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AUSTIN, Texas, Sept. 09, 2025 (GLOBE NEWSWIRE) -- FTC Solar today launched its 1P Pioneer+ Terrain Following (TF) tracker, designed to minimize site grading while accelerating construction timelines. Engineered for complex terrain, Pioneer+ TF adapts to natural site contours-reducing civil work, preserving site integrity, and maintaining high performance and reliability. Key differentiators of FTC Solar’s Pioneer+ TF are: Mechanical Articulation:Offers +/- 10 degrees of mechanical adjustability at the cente ...

AUSTIN, Texas, Sept. 03, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading innovator in solar tracking systems and software, today announced the launch of automated 80° high angle stow capability for its flagship 1P Pioneer tracker. This advanced hail mitigation feature, powered by FTC Solar’s intelligent SUNOPS™ software, delivers unmatched protection for solar assets in hail-prone regions. Every year, hailstorms cause millions of dollars in damage to solar projects, threatening project re ...

Core Insights - FTC Solar, Inc. has entered into an agreement with Levona Renewables to supply solar trackers and software for one gigawatt of solar projects starting in early 2026 [1][2] - The first project under this agreement, CT Solar One, will be a 140-megawatt facility in Snyder, Texas, with construction expected to begin in early 2026 [2] - The overall site development will include additional projects, CT Solar Two and CT Solar Three, adding approximately 650 megawatts [2] Company Overview - FTC Solar, founded in 2017, specializes in solar tracker systems, technology, software, and engineering services, enhancing energy production by optimizing solar panel orientation [4] - The company offers a robust product lineup, including high-wind and terrain-following trackers, along with performance-enhancing software [3][4] Partnership Dynamics - Levona Renewables has praised FTC Solar for its collaborative approach and expertise, which has added significant value to their development projects [3] - The partnership aims to optimize site layout, energy yield, and construction efficiency, minimizing civil costs [3]

Core Insights - FTC Solar, Inc. is actively engaging with investors through multiple upcoming conferences and events, indicating a focus on investor relations and market presence [1][2]. Company Overview - FTC Solar, founded in 2017, specializes in solar tracker systems, technology, software, and engineering services, aimed at enhancing energy production in solar installations [4]. - The company's solar trackers optimize panel orientation to the sun, significantly increasing energy output and offering a competitive installation cost-per-watt advantage [4]. Upcoming Events - The company will participate in the H.C. Wainwright Global Investment Conference on September 8, 2025, hosting virtual investor meetings [1]. - FTC Solar will also be present at the Roth Solar & Storage Symposium and RE+ 2025 in Las Vegas on September 9-10, 2025, conducting in-person and group investor meetings [2]. - Interested parties are encouraged to visit FTC Solar's booth V7655 at the events to learn more about their innovative solutions [3].

Core Viewpoint - FTC Solar has launched the Pioneer+ High Wind tracker, designed for extreme wind conditions, enhancing the capabilities of its existing 1P Pioneer single-axis tracker [1][2]. Group 1: Product Features - The Pioneer+ High Wind tracker can withstand wind speeds up to 150 mph, making it suitable for coastal, hurricane-prone, and high-altitude regions [1]. - It incorporates advanced analytical modeling and third-party validated engineering to ensure reliable performance under increased wind loads [3]. - The system features a wind direction-agnostic safety stow position, reducing wind loads and foundation depth requirements while maximizing energy production during wind stow [7]. Group 2: Market Adaptation - The tracker addresses the growing need for resilient solar solutions as projects move into more climate-sensitive environments [3]. - It is designed to meet evolving industry standards, with over 100 projects in the Southeastern U.S. reclassified from Risk Category I to II, raising wind design thresholds from 113 mph to 130 mph or more [4]. - The Pioneer+ High Wind tracker is a response to market feedback, aiming to solve real challenges for developers with fast, easy, and safe installation [6]. Group 3: Structural Enhancements - Key enhancements include reinforced torque tubes, drive posts, and damper assemblies for added structural rigidity [7]. - The tracker is compatible with various module form factors, providing broad design flexibility [7]. - Preassembled module-agnostic rails simplify onsite logistics and reduce installation errors [8]. Group 4: Company Background - FTC Solar, founded in 2017, specializes in solar tracker systems and technology, aiming to increase energy production at solar installations [9]. - The company emphasizes delivering innovative tracker designs that offer performance and reliability with a competitive installation cost-per-watt advantage [9].

Core Insights - FTC Solar reported a strong revenue growth of 74.9% year over year, reaching $20.0 million, but this fell short of analyst expectations of $21.1 million [1][5] - Non-GAAP EPS was $(0.86), missing the consensus estimate of $(0.80), indicating ongoing profitability challenges despite revenue growth [1][2] - The company continues to face negative gross margins and deep net losses, highlighting struggles to achieve profitability [1][6] Financial Performance - Revenue (GAAP) for Q2 2025 was $20.0 million, a 75.4% increase from $11.4 million in Q2 2024 [2][5] - Non-GAAP gross margin was reported at (17.4%), slightly worse than (16.8%) in Q2 2024 [2][6] - Operating expenses decreased by 21% year over year to $6.5 million, marking a multi-year low [6] Business Overview and Strategy - FTC Solar designs and supplies solar tracking systems and software, focusing on technological upgrades and customer requirements [3][4] - Recent product launches include a solar tracker for 2,000-volt systems and enhancements to the SunOps software platform [8] - The company aims to manage operational efficiency and navigate regulatory changes to maintain competitiveness [4] Operational Developments - The contracted backlog decreased by approximately 2.5% to around $470 million, attributed to regulatory uncertainties affecting project timelines [7] - Cash and equivalents dropped to $3.5 million from $11.2 million at the end of 2024, prompting a new $75 million strategic financing facility [9][10] - Inventory balances decreased to $7.3 million, indicating improved inventory management despite ongoing profitability challenges [10] Future Outlook - For Q3 2025, revenue guidance is set between $18.0 million and $24.0 million, with expectations of reaching break-even for non-GAAP gross margin at the high end [11] - A significant revenue ramp is anticipated in Q4 2025, with close monitoring of revenue growth and backlog evolution necessary due to regulatory headwinds [12]

Financial Data and Key Metrics Changes - Revenue for the second quarter was $20 million, a decrease of 4% compared to the prior quarter but an increase of 75% year-over-year due to higher product volume [23] - GAAP gross loss was $3.9 million, or 19.6% of revenue, compared to a gross loss of $3.4 million, or 16.6% of revenue in the prior quarter [23] - GAAP net loss was $15.4 million, or $1.18 per diluted share, compared to a loss of $3.8 million, or $0.58 per diluted share in the prior quarter [25] - Adjusted EBITDA loss was $10.4 million, at the top end of the guidance range, driven by lower operating expenses [25] Business Line Data and Key Metrics Changes - The company reported a non-GAAP gross loss of $3.5 million, or 17.4% of revenue, which included a $4 million accrual related to a joint venture facility [24] - Operating expenses were $7.6 million on a GAAP basis, with non-GAAP operating expenses at $6.5 million, marking the lowest level since 2020 [24] Market Data and Key Metrics Changes - The company noted a slow decision-making process among customers due to regulatory uncertainties, impacting project planning [12] - There is optimism for a significant ramp in revenue in the fourth quarter, despite current market uncertainties [27] Company Strategy and Development Direction - The company aims to position itself as a leading single access tracker provider, emphasizing faster installation times and lower capital expenditures for customers [6][8] - A $75 million financing facility was secured to support growth and enhance the balance sheet, which is expected to open new business opportunities [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future bookings and the potential for acceleration in project decisions once regulatory clarity is achieved [34] - The company is well-positioned for growth in 2026, with foundational pieces in place, including a strong balance sheet and a robust product offering [38] Other Important Information - The company has made significant advancements in its product offerings, including features for high wind zones and enhanced hail solutions [14][15] - The introduction of a new tracker designed for 2,000 volt systems is expected to reduce operational costs and increase power capacity [16] Q&A Session Summary Question: Outlook for bookings amid regulatory uncertainty - Management indicated that the transition to a 1P marketplace is ongoing, and while some peers are more established, FTC is making progress in positioning itself for success [31] Question: Timing for acceleration of bookings - Management is optimistic about bookings accelerating significantly, particularly as regulatory uncertainties are resolved [34] Question: Voice of smaller IPPs and EPCs regarding project financing - Confidence in moving projects forward comes from close collaboration with smaller project developers, despite challenges in securing financing [42] Question: Clarification on the $4 million charge - The $4 million charge was related to minimum purchase commitments with a joint venture partner, not directly tied to new regulations [45] Question: Rationale behind the recent capital raise - The capital raise was seen as opportunistic, providing a strong partnership with Clean Hill and enhancing the company's balance sheet to support future growth [49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the transition period from __________to__________ Commission File Number 001-40350 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FTC SOLAR, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

FTC Solar (FTCI) came out with a quarterly loss of $0.86 per share versus the Zacks Consensus Estimate of a loss of $0.64. This compares to a loss of $0.9 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -34.38%. A quarter ago, it was expected that this solar tracking systems maker would post a loss of $0.67 per share when it actually produced a loss of $0.84, delivering a surprise of -25.37%. Over the last four quarters, the ...