FTC Solar(US:FTCI)2021-06-08 15:48Financial Performance - First quarter revenue doubled year-over-year to $65.7 million[4] - GAAP gross profit was $0.119 million, while non-GAAP gross profit was $0.182 million[13, 20] - GAAP operating loss was $8.019 million, while non-GAAP operating loss was $6.664 million[13] - GAAP net loss was $7.442 million, while non-GAAP net loss was $6.676 million[13] - Diluted EPS was $(0.11) on a GAAP basis and $(0.10) on a non-GAAP basis[13] - The company expects second quarter revenue to be between $41.0 million and $46.0 million[16] Business Highlights - Secured first sales of new SunPath performance enhancement software product[4] - Awarded two international projects in Australia[4] - Added over $280 million to executed contracts and awarded orders year-to-date, including $55 million since IPO[4] - Closed IPO adding $181 million to the company's debt-free balance sheet[4] Market and Product - Steel costs have increased 19% since the IPO[11] - Polysilicon costs have increased 49% since the IPO[11] - Freight costs have increased 18% since the IPO[11] - Module costs have increased 18% since the IPO[11]