FTC Solar(US:FTCI)2025-11-12 13:30Financial Performance Highlights - Third quarter revenue reached $26.031 million, exceeding guidance and marking a 157% increase year-over-year, the highest level in 8 quarters[7] - Non-GAAP Gross Margin was 7.7%, surpassing guidance and representing the best level in 5 years[7] - Adjusted EBITDA was $(4.0) million, also exceeding guidance[7] - The company secured a $75 million facility and closed on $37.5 million, strengthening the balance sheet[7] Financial Metrics Improvement - Revenue increased by 30% quarter-over-quarter[17] - Non-GAAP Gross Margin increased by 2510 basis points quarter-over-quarter and 4600 basis points year-over-year[17] - U S GAAP gross margin improved from (42.5%) in Q3 2024 to 6.1% in Q3 2025[18] - Non-GAAP gross margin improved from (38.3%) in Q3 2024 to 7.7% in Q3 2025[18] Outlook - The company projects fourth quarter revenue between $30.0 million and $35.0 million[19] - The company projects Non-GAAP Gross Margin between 12.7% and 23.4% for the fourth quarter[19]