FTC Solar, Inc. (FTCI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
9020 N CAPITAL OF TEXAS HWY, SUITE I-260 AUSTIN, TX 78759 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3674 - Semiconductors and Related Devices (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 11,247 | 25,235 | 44,385 | 102,185 | |||
| Cash and cash equivalent | 11,247 | 25,235 | 44,385 | 102,185 | |||
| Receivables | 39,709 | 73,836 | 50,236 | 111,420 | |||
| Inventory, net of allowances, customer advances and progress billings | 10,144 | 3,905 | 14,949 | 8,860 | |||
| Inventory | 10,144 | 3,905 | 14,949 | 8,860 | |||
| Prepaid expense | 842 | 1,251 | 3,544 | 2,301 | |||
| Other current assets | 3,969 | 5,538 | 1,405 | 1,058 | |||
| Other undisclosed current assets | 10,217 | (1,257) | 4,171 | 9,955 | |||
| Total current assets: | 76,128 | 108,508 | 118,690 | 235,779 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 1,149 | 1,819 | 1,154 | 1,733 | |||
| Property, plant and equipment | 2,217 | 1,823 | 1,702 | 1,582 | |||
| Long-term investments and receivables | 954 | 240 | |||||
| Long-term investments | 954 | 240 | |||||
| Intangible assets, net (including goodwill) | 7,139 | 7,895 | 8,651 | ||||
| Goodwill | 7,139 | 7,353 | 7,538 | ||||
| Intangible assets, net (excluding goodwill) | 542 | 1,113 | |||||
| Other noncurrent assets | 2,341 | 2,785 | 4,201 | 3,926 | |||
| Total noncurrent assets: | 13,800 | 14,562 | 15,708 | 7,241 | |||
| TOTAL ASSETS: | 89,928 | 123,070 | 134,398 | 243,020 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 33,129 | 42,827 | 39,697 | 87,171 | |||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 47 | ||
| Accounts payable | 12,995 | 7,979 | 15,801 | 39,264 | |||
| Accrued liabilities | 20,134 | 34,848 | 23,896 | 47,860 | |||
| Deferred revenue | 5,306 | 3,612 | 11,316 | 1,421 | |||
| Other liabilities | 10,313 | 8,138 | 8,884 | 4,656 | |||
| Other undisclosed current liabilities | 325 | 88 | 443 | ||||
| Total current liabilities: | 49,073 | 54,665 | 60,340 | 93,248 | |||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation: | 1,340 | ||||||
| Liabilities, other than long-term debt | 5,255 | 5,934 | 7,608 | 5,566 | |||
| Accounts payable and accrued liabilities | 2,422 | ||||||
| Other liabilities | 2,422 | 4,810 | 6,822 | 5,566 | |||
| Operating lease, liability | 411 | 1,124 | 786 | 1,340 | |||
| Other undisclosed noncurrent liabilities | 16,564 | ||||||
| Total noncurrent liabilities: | 21,819 | 5,934 | 7,608 | 6,906 | |||
| Total liabilities: | 70,892 | 60,599 | 67,948 | 100,154 | |||
| Equity | |||||||
| Equity, attributable to parent | 19,036 | 62,471 | 66,450 | 142,866 | |||
| Common stock | 1 | 13 | 11 | 9 | |||
| Additional paid in capital | 367,318 | 361,886 | 315,345 | 292,082 | |||
| Accumulated other comprehensive income (loss) | (542) | (293) | (61) | 7 | |||
| Accumulated deficit | (347,741) | (299,135) | (248,845) | (149,232) | |||
| Total equity: | 19,036 | 62,471 | 66,450 | 142,866 | |||
| TOTAL LIABILITIES AND EQUITY: | 89,928 | 123,070 | 134,398 | 243,020 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|---|
| Revenues | 47,355 | 127,002 | 123,066 | 270,525 | ||
| Cost of revenue (Cost of Product and Service Sold) | (59,949) | (118,695) | (150,294) | (303,070) | ||
| Gross profit: | (12,594) | 8,307 | (27,228) | (32,545) | ||
| Operating expenses | (40,236) | (59,084) | (72,344) | (94,259) | ||
| Operating loss: | (52,830) | (50,777) | (99,572) | (126,804) | ||
| Nonoperating income | 9,275 | 1,062 | 1,372 | 20,762 | ||
| Investment income, nonoperating | 8,807 | 1,319 | 1,745 | 20,829 | ||
| Other nonoperating income (expense) | 468 | (257) | (373) | (67) | ||
| Interest and debt expense | (500) | 790 | ||||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | ||||||
| Loss from continuing operations before equity method investments, income taxes: | (44,055) | (49,715) | (98,200) | (105,252) | ||
| Loss from equity method investments | (660) | (354) | ||||
| Other undisclosed loss from continuing operations before income taxes | (4,321) | (253) | (978) | (814) | ||
| Loss from continuing operations before income taxes: | (48,376) | (50,628) | (99,178) | (106,420) | ||
| Income tax expense (benefit) | (230) | 338 | (435) | (169) | ||
| Loss from continuing operations: | (48,606) | (50,290) | (99,613) | (106,589) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (106,589) | |
| Net loss available to common stockholders, diluted: | (48,606) | (50,290) | (99,613) | (106,589) | ||
Comprehensive Income ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|---|
| Net loss: | (48,606) | (50,290) | (99,613) | (106,589) | ||
| Other comprehensive income (loss) | (249) | (232) | (68) | 10 | ||
| Other undisclosed comprehensive loss | ||||||
| Comprehensive loss: | (48,855) | (50,522) | (99,681) | (106,579) | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | ||||||
| Comprehensive loss, net of tax, attributable to parent: | (48,855) | (50,522) | (99,681) | (106,579) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.