FTC Solar(US:FTCI)2022-03-15 14:15Financial Performance & Outlook - Fourth quarter revenue exceeded guidance, showing a 92% quarter-over-quarter (q/q) increase and a 130% year-over-year (y/y) increase[4] - The company is targeting approximately 62% revenue growth in 2022[4, 13] - First quarter 2022 revenue is projected to be between $55 million and $65 million[13] - Full year 2022 revenue is projected to be between $415 million and $460 million[13] - Non-GAAP gross margin for the first quarter of 2022 is expected to be between -7% and 0%, and for the full year 2022, between 11% and 14%[13] - Adjusted EBITDA for the first quarter of 2022 is projected to be between negative $175 million and negative $135 million, and for the full year 2022, between negative $4 million and $11 million[13] Acquisition of HX Tracker - The company announced the acquisition of HX Tracker, an international tracker company[4] - HX Tracker's pipeline is estimated at approximately 20 gigawatts[5, 6] - The upfront consideration for HX Tracker is $43 million in cash plus 14 million shares[9] - HX Tracker is projected to contribute $10 million in revenue in 2022, $59 million in 2023, and $67 million in 2024[7] - HX Tracker's adjusted EBITDA contribution is projected to be negative $1 million in 2022, $4 million in 2023, and $7 million in 2024[8]