Supply Chain and Supplier Diversification - FTC Solar reported a significant reduction in reliance on Chinese suppliers, decreasing from 90% in 2019 to less than 20% as of the date of the report[131]. - As of September 30, 2024, the company has qualified suppliers outside of China for certain commodities to mitigate tariff impacts[131]. - The company has invested in Alpha Steel to enhance its U.S.-based supply chain and reduce reliance on international suppliers[131]. - The company is focused on diversifying its manufacturing partnerships and optimizing transportation costs to address supply chain disruptions[134]. Product and Technology Development - The company introduced the SUNOPS cloud-based solar asset monitoring solution in August 2023 and plans to launch the Automated Hail Stow Solution in May 2024[137]. - The introduction of new products and technology is part of the company's strategy to attract and retain customers and enhance user experience[137]. Financial Performance - Total revenue for the three months ended September 30, 2024, was $10,136,000, a decrease of 66.8% compared to $30,548,000 for the same period in 2023[151]. - Product revenue decreased by 72.8% to $7,411,000, down from $27,274,000, primarily due to an 82% decrease in MW produced[153][154]. - Service revenue decreased by 16.8% to $2,725,000, down from $3,274,000, attributed to a 29% decrease in ASP and lower engineering consulting revenues[153][155]. - Total revenue for the nine months ended September 30, 2024, was $34,153,000, a decrease of 67.1% compared to $103,801,000 for the same period in 2023[168]. - Product revenue decreased by 66.5% to $27,092,000 in 2024 from $80,927,000 in 2023, primarily due to a 73% decrease in the amount of MW produced[169][170]. - Service revenue fell by 69.1% to $7,061,000 in 2024 from $22,874,000 in 2023, attributed to a 63% decrease in MW delivered and a 16% decrease in ASP[171]. - Total cost of revenue increased to $42,910,000 in 2024, a 55.4% decrease from $96,186,000 in 2023, leading to a gross loss of $8,757,000[172]. - Gross margin percentage for the nine months ended September 30, 2024, was negative 25.6%, compared to a positive 7.3% in 2023[173]. Expenses and Losses - Gross profit for the three months ended September 30, 2024, was a loss of $4,306,000, compared to a profit of $3,379,000 in 2023, resulting in a gross margin of -42.5%[151][158]. - Research and development expenses were $1,467,000, a decrease of 23.6% from $1,921,000, with R&D expenses as a percentage of revenue increasing to 14.5%[161]. - Selling and marketing expenses decreased by 62.0% to $2,406,000 from $6,324,000, with selling and marketing costs as a percentage of revenue at 23.7%[163]. - General and administrative expenses were $6,797,000, down 40.4% from $11,411,000, with G&A expenses as a percentage of revenue at 67.1%[165]. - The net loss for the three months ended September 30, 2024, was $15,359,000, compared to a net loss of $16,937,000 in 2023[151]. - The company reported a net loss of $36.371 million for the nine months ended September 30, 2024, compared to a net loss of $39.113 million for the same period in 2023, representing a 7% improvement[227]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $(33.280) million, compared to $(24.097) million for the same period in 2023, indicating a decline in performance[227]. Cash Flow and Liquidity - The company incurred net cash used in operations of $18.0 million for the nine months ended September 30, 2024, compared to $46.4 million for the same period in 2023[191]. - Working capital decreased by approximately $35.0 million from $53.8 million at December 31, 2023 to $18.9 million at September 30, 2024[194]. - The company plans to issue $15 million in long-term senior secured promissory notes to address liquidity needs[185]. - The company had $8.3 million in cash and cash equivalents as of September 30, 2024, with no debt outstanding[231]. - Cash equivalents included $1.8 million in money market fund deposits as of September 30, 2024, down from $13.9 million at December 31, 2023[232]. Market Risks and Customer Concentration - The company is exposed to market risks due to customer concentrations and fluctuations in steel and aluminum prices, which could impact financial performance[229]. - The company relies on a small number of customers that account for a significant portion of revenue, increasing credit risk exposure[235]. - The company regularly evaluates reserves for potential credit losses based on expected lifetime credit losses[235]. Stock and Equity - The company’s common stock was transferred to the Nasdaq Capital Market due to non-compliance with the minimum bid price requirement[184]. - The company has not issued any dividends in its history and does not expect to issue dividends over the life of option grants[212]. - The company utilized Monte Carlo simulations for certain awards granted with market conditions, estimating the average present value based on up to 250,000 simulation paths[213]. Other Financial Metrics - The diluted adjusted net loss per share for the nine months ended September 30, 2024, was $(0.27), compared to $(0.22) for the same period in 2023[227]. - Stock-based compensation for the three months ended September 30, 2024, was $1,319 thousand, up from $1,192 thousand in the same period of 2023[224]. - The company did not identify any impairments of long-lived assets, intangible assets, or goodwill during the nine months ended September 30, 2024, and 2023[218]. - The weighted-average common shares outstanding for diluted shares was 127,380,292 for the three months ended September 30, 2024, compared to 119,793,821 for the same period in 2023[225].

November 12, 2024 Third Quarter 2024 Earnings Results 2 Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "e ...

Core Viewpoint - FTC Solar reported a quarterly loss of $0.10 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.08, marking a 25% earnings surprise [1] - The company generated revenues of $10.14 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 2.66%, but down from $30.55 million year-over-year [2] Company Performance - Over the last four quarters, FTC Solar has consistently failed to meet consensus EPS estimates [2] - The stock has declined approximately 24.8% year-to-date, contrasting with the S&P 500's gain of 25.8% [3] Future Outlook - The company's earnings outlook is critical for investors, with current consensus EPS estimates at -$0.06 for the upcoming quarter and -$0.33 for the current fiscal year [7] - The estimate revisions trend for FTC Solar is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The solar industry is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [8] - Canadian Solar, a peer in the industry, is expected to report a quarterly loss of $0.44 per share, reflecting a significant year-over-year decline of 237.5% [9]

Exhibit 99.1 (b) FTC Solar Announces Third Quarter 2024 Financial Results Third Quarter Highlights and Recent Developments • Third quarter revenue of $10.1 million, in-line with prior target • Industry veteran Yann Brandt joined as CEO • Announced 1GW tracker supply agreement with Dunlieh Energy • Announced multi-year agreement with Strata Clean Energy for 500mw, expandable to 1GW+ • Provided incremental project detail on 1GW of projects with Sandhills Energy • Post quarter-end, received $4.7 million earn-o ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ...

FTC Solar, Inc. (NASDAQ:FTCI) Q2 2024 Results Conference Call August 8, 2024 8:30 AM ET Company Participants Bill Michalek - Vice President of Investor Relations Ahmad Chatila - Member of Board of Directors, Founder Yann Brandt - Chief Executive Officer Cathy Behnen - Chief Financial Officer Conference Call Participants Matt Ingraham - ROTH Capital Markets Pavel Molchanov - Raymond James Operator Thank you for standing by. At this time, I would like to welcome everyone to FTC Solar's Second Quarter 2024 Ear ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission File Number 001-40350 FTC SOLAR, INC. (Exact name of registrant as specified in its charter) Delaware 81-4816270 (State or other jurisdi ...

FTC Solar (FTCI) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this solar tracking systems maker would post a loss of $0.09 per share when it actually produced a loss of $0.09, delivering no surprise. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. FTC Solar, which belongs to ...

Exhibit 99.1 (b) FTC Solar Announces Second Quarter 2024 Financial Results Second Quarter Highlights and Recent Developments • Second quarter revenue of $11.4 million • Industry veteran Yann Brandt named new CEO, effective August 19 • Contracted portion of backlog now stands at $505 million • Company continues to identify operational efficiencies while investing strategically in sales resources AUSTIN, Texas—August 8, 2024–FTC Solar,Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software ...

On his appointment, Mr. Brandt commented, "I am thrilled to be selected to lead FTC Solar, a top brand in the tracking market. I have been familiar with FTC Solar since its inception and continue to be impressed with the reputation it has developed for innovation and ease of use. It is an exciting time to join FTC Solar and work with their customers and prospects, many of which I know well, and provide the best tracker solutions for their projects, while helping to take FTC's business to the next level. Tog ...