FTC Solar (NASDAQ:FTCI) Posts Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Key Points

• FTC Solar reported Q1 EPS of ($0.67) versus consensus ($0.41), missing by $0.26, with revenue of $17.3M (vs. $24.3M expected) and a GAAP gross loss of $1.2M and Adjusted EBITDA loss of $8.2M.
• The board appointed Anthony Carroll as CEO while highlighting accelerating commercial momentum—on 9 of the top 10 EPC vendor lists, a ~$55M quarterly bookings run‑rate, a contracted 1 GW Safe Harbor award, and a contracted backlog of $543M, with Q2 revenue guidance of $22–26M and a 2026 growth outlook.
• Liquidity and market signals are mixed: quarter‑end cash was $5.6M (timing‑driven receipts arrived after the quarter), management will stop using the ATM program, insiders purchased shares, and analysts' ratings remain mixed with a consensus "Hold."

FTC Solar (NASDAQ:FTCI - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.26), FiscalAI reports. The firm had revenue of $17.27 million during the quarter, compared to analyst estimates of $24.26 million. FTC Solar had a negative net margin of 42.12% and a negative return on equity of 549.96%.

Here are the key takeaways from FTC Solar's conference call:

• The board appointed Anthony Carroll as CEO, citing his track record scaling billion‑dollar energy businesses and expecting his operational experience to accelerate FTC Solar's growth.
• Commercial momentum has accelerated — FTC is now on 9 of the top 10 EPC Approved Vendor Lists, reports a ~$55M quarterly bookings run‑rate, and won a 1 GW Safe Harbor award (first of three tranches contracted) expected to contribute meaningfully to 2026–2027 revenue.
• Q1 results missed expectations with revenue of $17.3M (down ~47.5% sequential) largely due to a delayed project (~$3–4M impact), producing a GAAP gross loss of $1.2M and an Adjusted EBITDA loss of $8.2M.
• Contracted backlog stands at $543M (net +$52M since March 5) and quarter‑end cash was $5.6M (timing‑driven receipts arrived after quarter), and management said it will stop using the ATM program.
• Guidance shows Q2 revenue of $22–26M and continued sequential recovery, with the company forecasting ~40% full‑year revenue growth in 2026 versus 2025 but still expecting near‑term Adjusted EBITDA losses.

FTC Solar Price Performance

Shares of FTCI stock traded up $0.27 during midday trading on Thursday, reaching $4.27. 286,994 shares of the company traded hands, compared to its average volume of 148,126. The firm's 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $8.13. FTC Solar has a 1-year low of $2.97 and a 1-year high of $12.75. The firm has a market cap of $66.57 million, a PE ratio of -0.74 and a beta of 1.81.

Insider Activity

In related news, Director Shaker Sadasivam purchased 27,025 shares of FTC Solar stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $3.70 per share, for a total transaction of $99,992.50. Following the transaction, the director owned 81,508 shares in the company, valued at approximately $301,579.60. The trade was a 49.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 36,775 shares of company stock worth $134,810. 21.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTC Solar

A number of hedge funds and other institutional investors have recently modified their holdings of FTCI. Walleye Capital LLC acquired a new stake in shares of FTC Solar during the 4th quarter valued at approximately $1,482,000. Informed Momentum Co LLC acquired a new stake in shares of FTC Solar during the 4th quarter valued at approximately $836,000. Marshall Wace LLP purchased a new position in shares of FTC Solar during the 4th quarter worth approximately $762,000. Captrust Financial Advisors purchased a new position in shares of FTC Solar during the 4th quarter worth approximately $745,000. Finally, Vanguard Group Inc. increased its stake in shares of FTC Solar by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 342,858 shares of the company's stock worth $2,417,000 after purchasing an additional 53,391 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FTCI. TD Cowen reduced their price objective on shares of FTC Solar from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen downgraded shares of FTC Solar from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. HC Wainwright restated a "buy" rating and issued a $20.00 price objective (up from $5.00) on shares of FTC Solar in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of FTC Solar in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.50.

FTC Solar Company Profile

FTC Solar, Inc NASDAQ: FTCI specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company's tracker solutions are engineered to follow the sun's path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.

Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.

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