[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) FTC Solar's Q2 results aligned with guidance, driven by cost controls and strategic financing, alongside product innovations and a 74.9% revenue increase to $20.0 million, despite a net loss of ($15.4) million [CEO Commentary & Strategic Overview](index=1&type=section&id=CEO%20Commentary%20%26%20Strategic%20Overview) CEO Yann Brandt reported Q2 results were in line with guidance, with Adjusted EBITDA at the high end due to continued cost controls, highlighting the company's stronger position, enhanced product, market, and financial standing, including securing multiple gigawatts of business with Tier 1 accounts and a significant $75 million strategic financing facility to support future profitability and customer confidence - Second quarter results were in-line with guidance ranges, with continued cost controls allowing for **Adjusted EBITDA** to come in at the high-end of the range[3](index=3&type=chunk) - The company is in a much stronger position than a year ago, making great strides in enhancing its product, market, and financial position, including adding multiple **gigawatts of business** with Tier 1 accounts[3](index=3&type=chunk) - Secured a **$75 million strategic financing facility**, providing ample runway to achieve profitability and incremental comfort to customers[3](index=3&type=chunk)[7](index=7&type=chunk) [Product Innovations](index=1&type=section&id=Product%20Innovations) FTC Solar is continuously enhancing its tracker products, introducing features like the widest range of stow (80-degree angle) for hail protection and an extra-long tracker built specifically for 2,000-volt systems to reduce eBOS and O&M costs while increasing power capacity by 33% - Introduced the widest range of stow in the industry, with an **80-degree angle**, to provide additional flexibility for owners and operators in meeting project requirements and mitigating hail damage[4](index=4&type=chunk) - Announced an extra-long tracker built for **2,000-volt systems**, designed to reduce eBOS and O&M costs while increasing power capacity by **33%**[5](index=5&type=chunk) [Summary Financial Performance: Q2 2025 compared to Q2 2024](index=1&type=section&id=Summary%20Financial%20Performance%3A%20Q2%202025%20compared%20to%20Q2%202024) FTC Solar reported Q2 2025 revenue of $20.0 million, a 74.9% year-over-year increase, which was within the target guidance, despite recording a GAAP gross margin percentage of (19.6%) and a net loss of ($15.4) million, with Adjusted EBITDA loss at ($10.4) million Summary Financial Data (in thousands, except per share data) | Metric (in thousands, except per share data) | Q2 2025 (GAAP) | Q2 2024 (GAAP) | Q2 2025 (Non-GAAP) | Q2 2024 (Non-GAAP) | | :----------------------------------- | :------------- | :------------- | :----------------- | :----------------- | | Revenue | $19,993 | $11,430 | $19,993 | $11,430 | | Gross margin percentage | (19.6%) | (20.5%) | (17.4%) | (16.8%) | | Total operating expenses | $7,580 | $9,581 | $6,544 | $8,278 | | Loss from operations | $(11,499) | $(11,924) | $(10,360) | $(10,451) | | Net loss | $(15,430) | $(12,241) | $(11,213) | $(10,730) | | Diluted loss per share | $(1.18) | $(0.97) | $(0.86) | $(0.85) | - Second quarter revenue of **$20.0 million**, up **74.9% year-over-year**, was within target guidance[7](index=7&type=chunk) - Cost efficiencies contributed to operating expenses reaching a **multi-year low**[7](index=7&type=chunk) [Second Quarter 2025 Financial Results](index=2&type=section&id=Second%20Quarter%20Results) FTC Solar's Q2 2025 financial results detail a $20.0 million revenue, GAAP gross loss of $3.9 million, operating expenses of $7.6 million, a net loss of $15.4 million, and a $470 million backlog [Revenue Performance](index=2&type=section&id=Revenue%20Performance) Total second-quarter revenue for FTC Solar was $20.0 million, marking a 74.9% increase compared to the year-earlier quarter due to higher product volumes, though it represented a 3.9% decrease from the prior quarter - Total second-quarter revenue was **$20.0 million**, representing a decrease of **3.9%** compared to the prior quarter and an increase of **74.9%** compared to the year-earlier quarter due to higher product volumes[9](index=9&type=chunk) [Gross Profit/Loss](index=2&type=section&id=Gross%20Profit%2FLoss) FTC Solar reported a GAAP gross loss of $3.9 million, or 19.6% of revenue, in Q2 2025, compared to $3.4 million (16.6% of revenue) in the prior quarter, with the Non-GAAP gross loss at $3.5 million, or 17.4% of revenue, compared to $1.9 million in the prior-year period - GAAP gross loss was **$3.9 million**, or **19.6% of revenue**, compared to gross loss of **$3.4 million**, or **16.6% of revenue**, in the prior quarter[10](index=10&type=chunk) - Non-GAAP gross loss was **$3.5 million** or **17.4% of revenue**, compared to Non-GAAP gross loss of **$1.9 million** in the prior-year period[10](index=10&type=chunk) [Operating Expenses](index=2&type=section&id=Operating%20Expenses) GAAP operating expenses for Q2 2025 were $7.6 million, while on a Non-GAAP basis, operating expenses were $6.5 million, a reduction compared to $8.3 million in the year-ago quarter, reflecting cost efficiencies - GAAP operating expenses were **$7.6 million**. On a Non-GAAP basis, operating expenses were **$6.5 million**, compared to Non-GAAP operating expenses of **$8.3 million** in the year-ago quarter[10](index=10&type=chunk) [Net Loss & Adjusted EBITDA](index=2&type=section&id=Net%20Loss%20%26%20Adjusted%20EBITDA) FTC Solar reported a GAAP net loss of $15.4 million, or $1.18 per diluted share, in Q2 2025, with the Adjusted EBITDA loss at $10.4 million, which was comparable to the $10.5 million loss in the year-ago quarter - 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 and a net loss of **$12.2 million** or **$0.97 per diluted share** (post-split) in the year-ago quarter[11](index=11&type=chunk) - Adjusted EBITDA loss was **$10.4 million**, compared to Adjusted EBITDA losses of **$9.8 million** in the prior quarter and **$10.5 million** in the year-ago quarter[11](index=11&type=chunk) [Backlog](index=2&type=section&id=Backlog) The contracted portion of FTC Solar's backlog currently stands at approximately $470 million, indicating future revenue potential - The contracted portion of the company's backlog now stands at approximately **$470 million**[12](index=12&type=chunk) [Subsequent Events](index=2&type=section&id=Subsequent%20Events) Subsequent events include securing a $75 million strategic financing facility and changes to the Board of Directors, with a new independent director appointed to the Audit Committee [Strategic Financing Facility](index=2&type=section&id=Strategic%20Financing%20Facility) On July 2, 2025, FTC Solar secured a new $75 million strategic financing facility with Cleanhill Partners and affiliates, including an initial term loan of up to $37.5 million, with $14.3 million already funded and the remaining $23.2 million expected to close in Q3 2025, subject to shareholder approval - On July 2, 2025, the company entered into a new **$75 million strategic financing facility** with Cleanhill Partners and affiliates, AV Securities and other long-term investors[13](index=13&type=chunk) - The Financing Facility provides for an initial term loan financing of up to **$37.5 million**, with **$14.3 million** closed and funded on July 2, 2025, and the balance of **$23.2 million** expected to close in the third quarter of 2025, subject to shareholder approval[14](index=14&type=chunk) [Board of Directors Changes](index=2&type=section&id=Board%20of%20Directors%20Changes) Dean Priddy retired from FTC Solar's Board of Directors after five years of service, effective August 4, while Tony Alvarez, previously a Board Observer, was appointed as an Independent Director and will assume the role of Chairman of the Audit Committee, bringing extensive solar industry and engineering experience to the board - Dean Priddy, a member of the Board of Directors for **five years**, stepped down from the Board effective **August 4, 2025**[15](index=15&type=chunk)[16](index=16&type=chunk) - Tony Alvarez, who has served as a Board Observer since **July 2023**, was appointed as an Independent Director and will replace Priddy as Chairman of the company's Audit Committee effective **August 5, 2025**[15](index=15&type=chunk) - Mr. Alvarez brings more than **35 years of solar and engineering experience**, having served as CEO of Solaria and EVP of Memory Solutions at Infineon, among other senior roles[18](index=18&type=chunk) [Outlook](index=3&type=section&id=Outlook) The company anticipates a 5% revenue increase in Q3 2025, with guidance for revenue between $18.0 million and $24.0 million and an Adjusted EBITDA loss between $(10.8) million and $(6.8) million [Third Quarter 2025 Guidance](index=3&type=section&id=Third%20Quarter%202025%20Guidance) FTC Solar expects third-quarter revenue to increase by approximately 5% compared to Q2 2025, with a more significant revenue ramp anticipated in the fourth quarter, providing specific guidance ranges for Q3 2025, including revenue between $18.0 million and $24.0 million, and Non-GAAP Adjusted EBITDA loss between $(10.8) million and $(6.8) million - For the third quarter, revenue at the midpoint of guidance range is expected to be up approximately **5%** compared to the second quarter, with a more significant ramp in revenue anticipated in the fourth quarter[20](index=20&type=chunk) Third Quarter 2025 Guidance (in millions) | Metric (in millions) | 2Q'25 Actual | 3Q'25 Guidance | | :------------------- | :----------- | :------------- | | Revenue | $20.0 | $18.0 – $24.0 | | Non-GAAP Gross Profit (Loss) | $(3.5) | $(2.4) – $0.6 | | Non-GAAP Gross Margin | (17.4%) | (13.4%) – 2.5% | | Non-GAAP operating expenses | $6.5 | $7.2 – $7.9 | | Non-GAAP adjusted EBITDA | $(10.4) | $(10.8) – $(6.8) | [Company Information](index=3&type=section&id=Company%20Information) FTC Solar, a global solar tracker provider, offers innovative systems to optimize energy production, with investor relations details and forward-looking statement disclaimers provided [About FTC Solar Inc.](index=3&type=section&id=About%20FTC%20Solar%20Inc.) Founded in 2017 by renewable energy industry veterans, FTC Solar is a global provider of solar tracker systems, technology, software, and engineering services, with innovative tracker designs engineered to significantly increase energy production at solar power installations by optimizing panel orientation, offering compelling performance, reliability, and an industry-leading installation cost-per-watt advantage - Founded in **2017**, FTC Solar is a global provider of solar tracker systems, technology, software, and engineering services[23](index=23&type=chunk) - FTC Solar's innovative tracker designs significantly increase energy production by dynamically optimizing solar panel orientation, providing compelling performance, reliability, and an **industry-leading installation cost-per-watt advantage**[23](index=23&type=chunk) [Investor Relations & Forward-Looking Statements](index=3&type=section&id=Investor%20Relations%20%26%20Forward-Looking%20Statements) This section provides details for the Second Quarter 2025 Earnings Conference Call, accessible via webcast, and includes a standard disclaimer regarding forward-looking statements, emphasizing that these are predictions based on current expectations and are subject to various risks and uncertainties detailed in SEC filings - FTC Solar's senior management will host a conference call for the investment community to discuss second quarter results and outlook, accessible via webcast on the Investor Relations section of their website[22](index=22&type=chunk) - The press release contains forward-looking statements that are predictions based on current expectations and projections, involving risks, uncertainties, and assumptions detailed in SEC filings, including Form 10-K and 10-Q[28](index=28&type=chunk) [Financial Statements (GAAP)](index=5&type=section&id=Financial%20Statements%20%28GAAP%29) This section presents FTC Solar's unaudited GAAP financial statements, including comprehensive loss, balance sheets, and cash flow statements for the specified periods [Condensed Consolidated Statements of Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) This statement presents FTC Solar's unaudited GAAP comprehensive loss for the three and six months ended June 30, 2025 and 2024, with key figures including total revenue, gross loss, operating expenses, and net loss, along with basic and diluted net loss per share Condensed Consolidated Statements of Comprehensive Loss (in thousands) | Metric (in thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Total revenue | $19,993 | $11,430 | $40,796 | $24,017 | | Gross loss | $(3,919) | $(2,343) | $(7,366) | $(4,451) | | Total operating expenses | $7,580 | $9,581 | $14,693 | $19,975 | | Loss from operations | $(11,499) | $(11,924) | $(22,059) | $(24,426) | | Net loss | $(15,430) | $(12,241) | $(19,249) | $(21,012) | | Basic and diluted net loss per share | $(1.18) | $(0.97) | $(1.49) | $(1.67) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This statement provides FTC Solar's unaudited GAAP financial position as of June 30, 2025, compared to December 31, 2024, detailing current and total assets, current and total liabilities, and stockholders' equity, showing changes in cash, accounts receivable, and overall financial structure Condensed Consolidated Balance Sheets (in thousands) | Metric (in thousands) | June 30, 2025 | December 31, 2024 | | :-------------------- | :------------ | :---------------- | | Cash and cash equivalents | $3,519 | $11,247 | | Total current assets | $70,296 | $76,128 | | Total assets | $82,955 | $89,928 | | Total current liabilities | $60,633 | $49,073 | | Total liabilities | $73,913 | $70,892 | | Total stockholders' equity | $9,042 | $19,036 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement outlines FTC Solar's unaudited GAAP cash flows for the six months ended June 30, 2025 and 2024, categorized into operating, investing, and financing activities, showing a net cash outflow from operations, a net cash inflow from investing activities, and a significant decrease in cash and cash equivalents by the end of the period Condensed Consolidated Statements of Cash Flows (in thousands) | Metric (in thousands) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | | Net cash used in operations | $(10,780) | $(15,635) | | Net cash provided by investing activities | $2,989 | $1,154 | | Net cash provided by financing activities | $3 | $3 | | Decrease in cash, cash equivalents and restricted cash | $(7,728) | $(14,456) | | Cash and cash equivalents at end of period | $3,519 | $10,779 | [Non-GAAP Financial Measures Reconciliation](index=8&type=section&id=Notes%20to%20Reconciliations%20of%20Non-GAAP%20Financial%20Measures%20to%20Nearest%20Comparable%20GAAP%20Measures) This section defines and reconciles FTC Solar's non-GAAP financial measures, including gross loss, operating expenses, and Adjusted EBITDA, to their nearest GAAP equivalents [Non-GAAP Definitions and Rationale](index=8&type=section&id=Non-GAAP%20Definitions%20and%20Rationale) This section defines FTC Solar's non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS, outlining the specific adjustments made to GAAP net loss, with these measures presented as supplemental performance indicators to help investors and analysts compare performance across periods by excluding items not indicative of core operating performance - **Adjusted EBITDA** is defined as net loss plus provision for income taxes, interest expense (less income), depreciation, amortization, stock-based compensation, loss from changes in fair value of warrant liability, CEO transition costs, non-routine legal fees, reverse stock split costs, severance, and certain other costs (credits), while deducting contingent gains and gains from changes in fair value of warrant liability[37](index=37&type=chunk) - Non-GAAP measures are intended as supplemental measures to assist investors and analysts in comparing performance across reporting periods on an ongoing basis by excluding items not indicative of core operating performance[38](index=38&type=chunk) [Non-GAAP Gross Loss Reconciliation](index=8&type=section&id=Non-GAAP%20Gross%20Loss%20Reconciliation) This reconciliation table details the adjustments from GAAP gross loss to Non-GAAP gross loss for the three and six months ended June 30, 2025 and 2024, primarily by adding back depreciation expense and stock-based compensation Non-GAAP Gross Loss Reconciliation (in thousands) | Metric (in thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | U.S. GAAP gross loss | $(3,919) | $(2,343) | $(7,366) | $(4,451) | | Depreciation expense | $185 | $183 | $358 | $351 | | Stock-based compensation | $248 | $240 | $491 | $456 | | Non-GAAP gross loss | $(3,486) | $(1,920) | $(6,483) | $(3,644) | | Non-GAAP gross margin percentage | (17.4%) | (16.8%) | (15.9%) | (15.2%) | [Non-GAAP Operating Expenses Reconciliation](index=9&type=section&id=Non-GAAP%20Operating%20Expenses%20Reconciliation) This table reconciles GAAP operating expenses to Non-GAAP operating expenses for the three and six months ended June 30, 2025 and 2024, by adjusting for items such as depreciation, amortization, stock-based compensation, CEO transition costs, and non-routine legal fees Non-GAAP Operating Expenses Reconciliation (in thousands) | Metric (in thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | U.S. GAAP operating expenses | $7,580 | $9,581 | $14,693 | $19,975 | | Depreciation expense | $(120) | $(91) | $(249) | $(193) | | Stock-based compensation | $(688) | $(1,045) | $(725) | $(2,468) | | CEO transition | $(228) | — | $(388) | — | | Non-GAAP operating expenses | $6,544 | $8,278 | $13,189 | $16,980 | [Non-GAAP Adjusted EBITDA and Net Loss Reconciliation](index=9&type=section&id=Non-GAAP%20Adjusted%20EBITDA%20and%20Net%20Loss%20Reconciliation) This section provides a detailed reconciliation of GAAP net loss to Non-GAAP Adjusted EBITDA and Adjusted Net Loss for the three months ended June 30, 2025 and 2024, with key adjustments including provision for income taxes, interest expense, stock-based compensation, gain from change in fair value of warrant liability, and CEO transition costs, leading to the calculation of Adjusted EPS Non-GAAP Adjusted EBITDA and Net Loss Reconciliation (in thousands) | Metric (in thousands) | 3 Months Ended June 30, 2025 (Adjusted EBITDA) | 3 Months Ended June 30, 2025 (Adjusted Net Loss) | 3 Months Ended June 30, 2024 (Adjusted EBITDA) | 3 Months Ended June 30, 2024 (Adjusted Net Loss) | | :-------------------- | :--------------------------------------------- | :----------------------------------------------- | :--------------------------------------------- | :----------------------------------------------- | | Net loss per U.S. GAAP | $(15,430) | $(15,430) | $(12,241) | $(12,241) | | Provision for income taxes | $39 | — | $65 | — | | Interest expense | $731 | — | $117 | — | | Stock-based compensation | $936 | $936 | $1,285 | $1,285 | | Gain from change in fair value of warrant liability | $2,836 | $2,836 | — | — | | CEO transition | $228 | $228 | — | — | | Adjusted Non-GAAP amounts | $(10,360) | $(11,213) | $(10,451) | $(10,730) | | Adjusted Non-GAAP net loss per share (Adjusted EPS) | N/A | $(0.86) | N/A | $(0.85) |

Core Insights - FTC Solar reported second-quarter revenue of $20.0 million, reflecting a 74.9% increase year-over-year and a 3.9% decrease from the previous quarter, attributed to higher product volumes [8][9] - The company secured a $75 million strategic financing facility to support future growth and enhance customer confidence [2][13] - Adjusted EBITDA loss for the quarter was $10.4 million, compared to losses of $9.8 million in the prior quarter and $10.5 million in the same quarter last year [11][19] Financial Performance - Total revenue for Q2 2025 was $20.0 million, up 74.9% from Q2 2024, with a gross margin percentage of -19.6% [5][8] - GAAP net loss was $15.4 million, or $1.18 per diluted share, compared to a net loss of $12.2 million or $0.97 per diluted share in the same quarter last year [11][29] - The company's backlog now stands at approximately $470 million, indicating strong future revenue potential [12] Product and Innovation - FTC Solar introduced an extra-long tracker designed for 2,000-volt systems, which can reduce balance of system (eBOS) and operations and maintenance (O&M) costs while increasing power capacity by 33% [4] - The company claims to have the most easily constructible tracker on the market, with features that enhance flexibility for customers, including high-wind and multiple terrain-following options [3] Management and Governance - Tony Alvarez was appointed as an Independent Director, replacing Dean Priddy, who retired from the Board [15][16] - The company continues to strengthen its sales team and enhance its market position, with multiple gigawatts of business added over the past year [2][7] Outlook - For Q3 2025, the company expects revenue to increase approximately 5% compared to Q2 2025, with a more significant ramp in revenue anticipated in Q4 2025 [18]

Core Insights - FTC Solar reported second-quarter financial results for 2025, showing a revenue of $20.0 million, which is a 74.9% increase year-over-year and within the target guidance range [8][9]. - The company secured a $75 million strategic financing facility to support future growth and enhance customer confidence [2][13]. - Innovations in product offerings include an extra-long tracker for 2,000-volt systems, which can increase power capacity by 33% while reducing costs [4][3]. Financial Performance - Total revenue for Q2 2025 was $20.0 million, a decrease of 3.9% from the previous quarter but a significant increase of 74.9% compared to Q2 2024 [8][9]. - The gross loss was $3.9 million, representing 19.6% of revenue, compared to a gross loss of $3.4 million or 16.6% of revenue in the prior quarter [10]. - The net loss for Q2 2025 was $15.4 million, or $1.18 per diluted share, compared to a net loss of $12.2 million or $0.97 per diluted share in the same quarter last year [11][11]. Operational Highlights - The company has made significant strides in enhancing its product and market position, adding multiple gigawatts of business with Tier 1 accounts [2][7]. - Cost efficiencies have driven operating expenses to a multi-year low, with total operating expenses at $7.6 million for Q2 2025 [10][11]. - The contracted portion of the company's backlog now stands at approximately $470 million, indicating strong future revenue potential [12]. Strategic Developments - The company appointed Tony Alvarez as an Independent Director following Dean Priddy's retirement from the Board, bringing significant solar industry expertise [15][16]. - The outlook for Q3 2025 anticipates a revenue increase of approximately 5% compared to Q2 2025, with expectations for a more significant ramp in revenue in Q4 2025 [18].

Core Insights - FTC Solar is positioned as a leading provider of solar tracker systems, offering solutions that enable utility-scale developers to secure full Investment Tax Credit (ITC) eligibility under recent policy changes [2][3][5] - The company emphasizes the importance of flexibility and adaptability in its products, particularly through the use of universal torque tubes and innovative designs that accommodate various module types [3][4][5] Product and Service Offerings - FTC Solar's tracker systems are designed to be module agnostic, allowing for late-stage modifications without compromising project timelines [4][5] - The company provides two paths for safe harbor qualification: Capex Safe Harbor through early procurement of tracker components and Physical Work Safe Harbor via early-stage foundation procurement [7][8] Market Position and Strategy - FTC Solar's products are optimized for safe harbor eligibility, with a focus on maximizing project flexibility and minimizing capital expenditures [5][6] - The company is actively booking safe harbor orders and has a dedicated engineering team to assist clients in meeting their safe harbor goals [6][8] Industry Context - The recent policy shifts under the "One Big Beautiful Bill" (OBBB) have created uncertainty for solar developers regarding tax credit eligibility, making FTC Solar's offerings particularly relevant [3][5] - The company's robust U.S. manufacturing capabilities and engineering services position it as a reliable partner for developers navigating the evolving regulatory landscape [2][5]

Core Insights - FTC Solar, Inc. is positioned to assist utility-scale developers in achieving "begin construction" status to secure full Investment Tax Credit (ITC) eligibility under the Inflation Reduction Act (IRA) and new "One Big Beautiful Bill" (OBBB) rules [1][2] Group 1: Safe Harbor Strategies - The company offers two viable paths for safe harbor qualification, addressing regulatory uncertainty and maximizing project returns for solar developers [2][7] - FTC Solar's 1P "Pioneer" trackers utilize universal torque tubes and innovative designs, allowing flexibility for module changes late in the design process [2][3] Group 2: Product Offerings - FTC Solar's products are optimized for safe harbor eligibility, with a robust offering across both 1P and 2P technologies, tailored for various project conditions [4][6] - The company emphasizes simplicity in design, enabling developers to optimize capital expenditures by procuring additional structural components adaptable to diverse project configurations [3][4] Group 3: Engineering and Support - A dedicated engineering team is available to identify site-specific installation opportunities and provide consultative support for tracker component procurement strategies [8] - FTC Solar is actively booking safe harbor orders and providing immediate support to meet customer goals [5][8] Group 4: Supply Chain and Capacity - The company is scaling its domestic supply chain, with 100% U.S.-sourced trackers available for orders starting in Q4 2025 [8]

AUSTIN, Texas, July 23, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its second quarter 2025 financial results before market open on Tuesday, August 5, 2025. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its second quarter 2025 results, its outlook and other business items. This call will be ...

Core Viewpoint - A group of legislators, led by Senator Elizabeth Warren, is introducing the Price Gouging Bill of 2025 to combat price gouging by large corporations amid rising inflation and increasing tariffs [1][2]. Group 1: Legislative Details - The Price Gouging Bill of 2025 aims to make price gouging illegal and empower the Federal Trade Commission (FTC) and state attorneys general to litigate against alleged market abuses [2][6]. - The bill requires companies with over $100 million in revenue to report any price changes exceeding the average price from the previous 120 days, along with details on product costs and margins [6]. - An additional $1 billion in funding will be allocated to the FTC to enforce the new price gouging law [7]. Group 2: Economic Context - The proposed legislation follows a resurgence of inflation as indicated by the June consumer price index and the ongoing impact of tariffs [2][4]. - Corporations, including Costco and Best Buy, have cited tariffs as a reason for price increases during their second-quarter earnings calls [9]. Group 3: Political Statements - Senator Warren criticized President Trump's tariff policies for enabling corporations to raise prices excessively, claiming that the bill is a chance for Congress to protect families from corporate abuse [4][8]. - Senator Baldwin emphasized that the bill aims to address corporate greed and the rising costs of everyday items affecting families [8]. Group 4: Support and Criticism - The bill has garnered support from labor organizations like the AFL-CIO and United Steelworkers, who believe it is overdue [10]. - There has been criticism of price gouging policies from both political sides, with some arguing that such measures may not be sound economics [11].

Core Viewpoint - FTC Solar, Inc. has secured a new $75 million strategic financing facility to support its growth and balance sheet, with an initial term loan of up to $37.5 million [2][3][4] Financing Details - The financing facility includes an initial term loan of $37.5 million, with $14.3 million already closed on July 2, 2025, and an additional $23.2 million expected to close in Q3 2025, pending shareholder approval [3][4] - The total potential financing available under the facility is $75 million, which can be accessed upon mutual agreement between the company and investors [4] Company Insights - FTC Solar is recognized as a leading provider of solar tracker systems, software, and engineering services, enhancing energy production at solar installations [8] - The company has recently added over 6.5 gigawatts of new business with Tier 1 customers, indicating strong demand for its innovative tracker technology [5] Strategic Importance - The financing is aimed at strengthening the company's balance sheet, accelerating growth, and ensuring continued product and service delivery to global customers [5] - Cleanhill Partners, a private equity firm, expressed confidence in FTC Solar's potential as an industry leader, highlighting the scalability of their investment [5][7]

Company Overview - FTC Solar, Inc. is a leading provider of solar tracker systems, software, and engineering services, founded in 2017 by renewable energy industry veterans [3] - The company specializes in solar trackers that enhance energy production by optimizing solar panel orientation, offering a competitive installation cost-per-watt advantage [3] Upcoming Investor Meetings - FTC Solar's management team, including CEO Yann Brandt, will participate in investor meetings at the CLEANPOWER 2025 conference on May 20, 2025, in Phoenix, alongside analysts from UBS, Guggenheim, and Roth Securities [1] - The company will host in-person investor meetings at the Bank of America Power, Utilities and Alternative Energy Conference on May 28, 2025, in New York [2] - FTC Solar will also hold in-person investor meetings at the Roth Securities London Conference on June 25, 2025, in London [2] Contact Information - For investor inquiries, FTC Solar's Vice President of Investor Relations, Bill Michalek, can be contacted at (737) 241-8618 or via email at IR@FTCSolar.com [4]

Financial Data and Key Metrics Changes - Revenue for the first quarter was $20.8 million, exceeding guidance and representing a 58% increase from the prior quarter and a 65% increase year-over-year due to higher product volumes [20][21] - GAAP gross loss was $3.4 million, or 16.6% of revenue, compared to a gross loss of $3.8 million, or 29.1% of revenue in the prior quarter [20] - Non-GAAP gross loss was $3 million, or 14.4% of revenue, an improvement from $3.4 million, or 25.6% of revenue in the prior quarter [21] - GAAP net loss was $3.8 million, or $0.58 per diluted share, compared to a loss of $12.2 million, or $0.96 per diluted share in the prior quarter [21] - Adjusted EBITDA loss was $9.8 million, slightly better than the top end of guidance, compared to losses of $9.8 million in the prior quarter [22] Business Line Data and Key Metrics Changes - The company has added over 6.5 gigawatts to its backlog, with agreements signed with tier one accounts [5] - The average project size of bids increased by 65% year-over-year, indicating a significant uptick in bidding activity [11] - 1P solutions now represent 90% of all bidding activity, reflecting a strategic shift in product focus [13] Market Data and Key Metrics Changes - Customer visits to product demonstration facilities increased by 100% and 240% over the past six and nine months, respectively [11] - Bidding volume in the first quarter was up 60% compared to the previous year, indicating heightened market activity [11] Company Strategy and Development Direction - The company is focused on converting backlog into sustainable growth and profitability, with a strong emphasis on expanding its 1P product line [5][6] - The strategic shift from 2P to 1P solutions is aimed at addressing market demand and expanding the served market [9][12] - The company is actively involved in advocating for the continuation of investment tax credits and manufacturing credits to support industry growth [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the solar market, noting high demand for solar generation and active involvement from corporate customers in project development [16] - The company anticipates continued growth in backlog and revenue, with expectations of achieving adjusted EBITDA breakeven on a quarterly basis within 2025 [23][25] - Management acknowledged uncertainties in the market due to tariffs and permitting processes but emphasized the importance of maintaining operational flexibility [14][39] Other Important Information - The contracted backlog now stands at $482 million, with cash at the end of the quarter reported at $5.9 million [22][18] - The company has reduced operating expenses for six consecutive quarters, achieving the lowest level since becoming public [21] Q&A Session Summary Question: Exposure to tariffs for components - Management acknowledged that there is some exposure to tariffs on imported items but emphasized a diversified supply chain to mitigate impacts [28] Question: Impact of module change configurations on backlog - Management indicated that while there is movement in module configurations, they have not seen significant project shifts due to module impacts [30][31] Question: Percentage of projects on hold due to tariff clarity - Management noted that while there is some resequencing of projects, the majority remain on track, with flexibility built into project timelines [38] Question: Development activity slowdown - Management clarified that development activity has not slowed, but negotiations between off-takers and project owners have paused due to tariff uncertainties [41] Question: Expectations for gross margin and adjusted EBITDA - Management highlighted that higher volumes and market share gains are driving expectations for improved gross margins and positive adjusted EBITDA [47]