FTC Solar, Inc. (FTCI)

From the record

FTC Solar, Inc.'s filings since 2021 show 6 warning events of 3 kinds: a debt default or acceleration notice (8-K item 2.04, 2 times, the latest 2026-08-05); a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2024-06-24); an auditor change (8-K item 4.01, the latest 2023-04-06) (its current reports).

From the record

FTC Solar, Inc.'s 7 filed years say what it did: revenue went from $53 million in fiscal 2019 to $100 million in fiscal 2025, up 11.1% a year; it rose in 4 of 6 years; the deepest fall was 82% from fiscal 2021 to fiscal 2024; net income was positive in 0 of 7 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, FTC Solar, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned less than nothing, about minus 1 cents per dollar of everything the company owns. Leverage: it owed about 138 cents per dollar of assets, and net share issuance: its share count grew 10.5% over the year (the filed statements).

From the record

FTC Solar, Inc.'s standing among 97 graded names in its industry family: revenue of $100 million in fiscal 2025 ranks in the bottom 28% by size; a net margin of -79.8% ranks in the bottom 14%; revenue growth of -6.8% a year over the last 3 filed years ranks in the bottom 30% (its annual reports).

From the record

FTC Solar, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Carroll, Anthony (Chief Executive Officer, as filed), filing under that title since 2026-05-06, 6 months (bottom 7% of its family); the 9 officers and directors filing in the last fifteen months have been on the record a median of 3.7 years (bottom 12%); 9 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (bottom 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

FTC Solar, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $21 million against debt of $10 million leaves 10% of its assets as net cash, bottom 48% of its family; cash from operations less capital spending is -34.7% of revenue (bottom 19%); a gross margin of -0.9% (bottom 6%); research spending of 4.4% of revenue (bottom 13%) (its annual report).

From the record

FTC Solar, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -6.8% a year over the last three filed years against 11.1% over all 7, slowing (bottom 18% of its family); the newest year grew 110.6% (top 8%); research spending grew -23.9% a year (bottom 6%); capital spending grew 4.7% a year (bottom 45%) (its annual reports). FTC Solar, Inc. reported 2 product lines in fiscal 2025: Product at $80 million (81%), Service at $19 million (19%); 2 of 2 grew against the year before (its annual report).

From the record

FTC Solar, Inc.'s newest year against its own record: revenue of $100 million in fiscal 2025 came in 239.2% above the $29 million its prior three years' pace pointed to (top 5% of its family); net income of $80 million against a prior three-year average of $66 million (bottom 45%); a net margin of -79.8% against -74.4% before (bottom 38%) (its annual reports).