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FTC Solar Announces Second Quarter 2025 Financial Results
FTC SolarFTC Solar(US:FTCI) GlobeNewswire News Roomยท2025-08-05 10:30

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].