| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 17.27 | 17.0% |
| Total Income | 17.27 | 17.0% |
| Expenditure | 29.32 | 6.5% |
| PBT | 32.79 | 1018.5% |
| Net Profit | 32.60 | 953.4% |
| OPM | -69.84% | 19.08pp |
| NPM | 100.00% | 118.36pp |
| EPS | 2.09 | 796.7% |
FTC Solar Announces Q1 2026 Revenue of $17.3 Million
05 May 2026 · 5 May, 4:12 pm
Summary
FTC Solar, Inc. announced its financial results for the first quarter ended March 31, 2026. The company reported total first-quarter revenue of $17.3 million, a decrease of 17.0% compared to the year-ago quarter. GAAP gross loss was $1.2 million, or 7.1% of revenue, while Non-GAAP gross loss was $0.4 million, or 2.2% of revenue. The company's contracted backlog is approximately $543 million, and they anticipate revenue growth of approximately 40% relative to 2025.
Key Highlights
- 1
FTC Solar was awarded a 1GW agreement for 1P trackers from a new customer.
- 2
First quarter revenue totaled $17.3 million.
- 3
GAAP gross loss was $1.2 million, representing 7.1% of revenue.
- 4
Non-GAAP gross loss was $0.4 million, or 2.2% of revenue.
- 5
The contracted portion of the company's backlog stands at approximately $543 million.
- 6
The company received a new award for 1 gigawatt of trackers for multiple project sites in the U.S.
- 7
FTC Solar expects first quarter to represent the low point in revenue for the year, with sequential quarterly growth for the remainder of 2026.
Management Comments
Shaker Sadasivam
"We are excited to welcome Anthony in this new capacity, at what we believe is a critical inflection point for the business," said Shaker Sadasivam, Chairman of the Board, FTC Solar. "His operational depth, dynamic leadership, and demonstrated success in scaling growth businesses make him exceptionally well-suited to lead FTC Solar into its next chapter. We have a strong foundation now, and we believe the best is ahead for this business, our customers, and our team." “Yann Brandt stepped into FTC at an important inflection point and delivered what was needed to position the company for its next stage of growth,” Sadasivam continued. “We are grateful for his contributions to FTC Solar and wish him well in his future endeavors."
Informational and educational content only. Not investment advice.