FTCI - NASDAQ

FTC Solar, Inc.

FTCI·NASDAQ

$5.39

+3.1%

EnergySolar

FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites. Its customers include project developers; solar asset owners; and engineering, procurement, and construction contractors that design and build solar energy projects. FTC Solar, Inc. was incorporated in 2017 and is headquartered in Austin, Texas.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$86.27M

EPS-5.4900

P/E Ratio-0.98

Earnings Date08/04/2026

-33.44M

Operating Cash Flow

-4%

3Y-39.0%

5Y-5417.0%

10Y+13067.0%

2.80M

Investing Cash Flow

-55%

3Y-166.0%

5Y+50.0%

10Y-15661.0%

40.40M

Financing Cash Flow

179%

3Y+4374.0%

5Y+78.0%

10Y+477.0%

FTC Solar, Inc. Cash Conversion Engine

FTCI · NASDAQ

FCF Components

Net Income-76.92M

Depreciation & Amortization1.27M

Stock-Based Compensation4.96M

Change in Working Capital-10.96M

Others47.98M

Capital Expenditures-1.13M

Free Cash Flow-34.57M

Cash Flow Quality Analysis

FCF Conversion Rate

44.9%

Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.

CapEx Intensity

-3.4%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+4.9%

Flat FCF growth. Stable but not expanding—monitor for signs of business maturity or temporary headwinds.

Working Capital Impact

-$10.96M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.

FTC Solar, Inc. Cash Flow Statement

FTCI • NASDAQ

FTC Solar, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
OPERATING ACTIVITIES
Net Income	-76.9M	-48.6M	-50.3M	-99.6M	-106.6M	-15.9M	-13.5M
Depreciation & Amortization	1.3M	1.7M	1.4M	900K	232K	47K	412K
Change in Deferred Taxes	221K	83K	138K	-135K	-12.7M	-3K	-3K
Stock-Based Compensation	5M	0.0	8.3M	20.3M	61.8M	1.8M	906K
Other Non-Cash Items	48M	12.7M	12.6M	14.7M	-402K	5.3M	3M
Cash Taxes Paid	(0.0)	(0.0)	(177K)	(123K)	(76K)	(0.0)	(0.0)
Change in Working Capital	-11M	-530K	-24.7M	9.3M	-75.2M	9.4M	8.9M
Cash from Operating Activities	-33.4M	-34.7M	-52.7M	-54.5M	-132.9M	629K	-254K
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	-1.1M	-1.6M	-816K	-985K	-1M	-256K	-18K
Acquisitions, Net	(580K)	(0.0)	(419K)	-3.3M	(22.3M)	(2.1M)	(0.0)
Purchase of Investments	(0.0)	-1.8M	(0.0)	(0.0)	-44.7M	(0.0)	(0.0)
Sale/Maturity of Investments	0.0	8.8M	0.0	0.0	22.3M	0.0	0.0
Other Investing Items	3.4M	900K	0.0	86K	22.3M	0.0	0.0
Cash from Investing Activities	(2.8M)	(6.3M)	-397K	-4.2M	(21.3M)	(1.9M)	-18K
FINANCING ACTIVITIES
Net Issuance of Common Stock	4.6M	8K	34M	0.0	187M	30M	6M
Net Issuance of Debt	35.8M	14.5M	0.0	0.0	-1M	-6.2M	1M
Share Repurchases	(0.0)	(0.0)	(0.0)	(0.0)	-54.2M	(0.0)	(0.0)
Other Financing Items	0.0	0.0	-57K	903K	-5.6M	-1.1M	0.0
Cash from Financing Activities	40.4M	14.5M	34M	903K	180.4M	22.6M	7M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	102K	-49K	-47K	54K	-10K	-3K	0.0
Net Change in Cash	9.9M	-14M	-19.2M	-57.8M	68.8M	25.1M	6.7M
Cash at Beginning of Period	11.2M	25.2M	44.4M	102.2M	33.4M	8.2M	1.5M
Cash at End of Period	21.1M	11.2M	25.2M	44.4M	102.2M	33.4M	8.2M
Free Cash Flow	-34.6M	-36.3M	-53.5M	-55.5M	-133.9M	373K	-272K

SEC Filings

FTCI - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
10-Q 10-Q 2026 Q1 Q1	May 05, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 05, 2026	April 29, 2026	2026	View Filing
10-K/A 10-K/A 2025 FY (Amended) FY	April 28, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 24, 2026	March 23, 2026	2026	View Filing
10-K 10-K 2025 FY FY	March 24, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 05, 2026	March 05, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 15, 2025	December 15, 2025	2025	View Filing
8-K 8-K 2025 N/A	November 12, 2025	November 12, 2025	2025	View Filing
10-Q 10-Q 2025 Q3 Q3	November 12, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	September 04, 2025	September 04, 2025	2025	View Filing

Showing 1 to 10 of 96 filings

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