Saturday 17 October 2026 Export FTCI’s income statement to Excel — free account

FTC Solar, Inc.

FTC Solar, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $99.7 million, up 110.5% from fiscal 2024. In the quarter to June 2026, revenue grew 30.8%, EPS fell 43.2%, free cash flow grew 429.0% and total debt rose 107.8%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.

1.61 0.05 −3.01%

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Market cap: $30.3M
P/E: 0.0×
Fwd P/E: 5.1×
Dividend yield: —
F-score: 3/9
Altman Z: −4.59
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.74

Total sells 1.36

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	1	—	—	—	—	4	—	—	4	—	—
Sell	1	3	—	—	—	—	—	—	—	—	—	—

Insider Ownership 20.24%

Capital & Financial Ratios $m

Market Cap 30.33

Revenue 102.31

Net Income (54.85)

Free Cash Flow (28.48)

Net Debt 11.57

Current Ratio 0.91

Debt/Equity (0.75)

P/E ratio 0.00

Fwd P/E 5.08

P/S ratio 0.25

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 69.27%

Next Y EPS Growth 57.62%

Next Y revenue growth 33.72%

Next 5Y EPS Growth 60.63%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.07%

10-year low 10-year high

EV/Sales against its own 10 years 12.00%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	25	11	21	11
Receivables	65	40	56	49
Inventory	4	10	10	10
Other	—	—	—	—
	109	76	98	83

	2023	2024	2025	Q'26
Payables	8	13	13	11
ST’ Debt	—	—	13	23
Other	8	10	11	11
	55	49	68	91

Compound Annual Growth %

	10y	5y	3y
Sales	—	(11.86%)	(6.78%)
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	0.00%	0.00%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	17	26	—	—	—
’25	21	20	26	33	100
’24	13	11	10	13	47
’23	41	32	31	23	127
’22	50	31	17	26	123
’21	66	50	53	102	271
’20	32	51	60	44	187

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(13)	8	—	—	—
’25	(8)	(2)	(15)	(8)	(33)
’24	(12)	(4)	(2)	(17)	(35)
’23	(8)	(22)	(16)	(6)	(53)
’22	(53)	17	(13)	(5)	(55)
’21	(26)	(58)	(8)	(40)	(133)
’20	(6)	(17)	8	14	1

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(13)	8	—	—	—
’25	(9)	(2)	(15)	(8)	(34)
’24	(12)	(4)	(3)	(16)	(35)
’23	(8)	(23)	(16)	(7)	(53)
’22	(54)	17	(13)	(6)	(55)
’21	(26)	(59)	(9)	(41)	(134)
’20	(6)	(17)	8	14	0

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.46	(1.69)	—	—	—
’25	(0.26)	(1.18)	(1.61)	(2.23)	(5.49)
’24	(0.70)	(1.00)	(1.20)	(0.96)	(3.83)
’23	(1.10)	(0.90)	(1.40)	(0.90)	(4.40)
’22	(2.80)	(2.60)	(2.50)	(2.00)	(9.80)
’21	(1.10)	(7.00)	(2.40)	(2.50)	(12.40)
’20	0.44	(0.91)	(0.42)	(1.43)	(2.31)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	62.20	17.80	2.82	1.76	2.13	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	154.60	77.50	38.70	7.50	12.00
People
People	Employees	—	—	—	—	178	223	221	213	202	232
	Revenue/emp, $m	—	—	—	0.00	1.05	1.21	0.56	0.60	0.23	0.43
Income, $m
Income, $m	Revenue	—	—	—	53	187	271	123	127	47	100
	Gross margin, %	—	—	—	(3.67)	1.94	(12.03)	(22.12)	6.54	(26.59)	(0.88)
	EBT	—	—	—	(14)	(16)	(106)	(99)	(51)	(48)	(79)
	EBT margin, %	—	—	—	(25.48)	(8.54)	(39.34)	(80.59)	(39.86)	(102.16)	(79.30)
	Net income	—	—	—	(13)	(16)	(107)	(100)	(50)	(49)	(80)
	Depreciation	—	—	—	0	0	1	2	2	2	5
Per share, $
Per share, $	Revenue	—	—	—	8.56	27.23	31.44	12.14	10.99	3.74	7.11
	Earnings	—	—	—	(2.18)	(2.31)	(12.40)	(9.80)	(4.40)	(3.83)	(5.49)
	Cash flow	—	—	—	(0.04)	0.09	(15.44)	(5.38)	(4.56)	(2.74)	(2.39)
	Capex	—	—	—	0.00	(0.04)	(0.12)	(0.09)	(0.07)	(0.06)	(0.07)
	Free cash flow	—	—	—	(0.04)	0.05	(15.56)	(5.46)	(4.63)	(2.80)	(2.46)
	Book value	—	—	—	(1.36)	1.08	16.60	6.55	5.41	1.50	(3.07)
	Shares, m	—	—	—	6	7	9	10	12	13	14
Valuation, ×
Valuation, ×	P/E	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	—	—	4.32	4.32	2.40	2.13	0.63	1.47	1.53
	P/B	—	—	—	1,922.66	1,922.66	4.55	3.95	1.29	3.67	0.00
	EV/Sales	—	—	—	4.31	4.31	2.03	1.78	0.45	1.45	1.55
	EV/FCF	—	—	—	(47.23)	(47.23)	(4.11)	(3.96)	(1.07)	(1.94)	(4.48)
Cash, $m
Cash, $m	Operating cash flow	—	—	—	0	1	(133)	(55)	(53)	(35)	(33)
	Capex	—	—	—	0	0	(1)	(1)	(1)	(1)	(1)
	Free cash flow	—	—	—	0	0	(134)	(55)	(53)	(35)	(34)
Balance, $m
Balance, $m	Working capital	—	—	—	(3)	6	143	58	54	27	30
	Total debt	—	—	—	8	2	2	1	—	9	23
	Net debt	—	—	—	0	(32)	(100)	(43)	(25)	(2)	1
	Shareholders’ equity	—	—	—	(8)	7	143	66	62	19	(43)
Returns, %
Returns, %	ROA	—	—	—	(25.65)	(30.27)	(67.80)	(52.79)	(39.07)	(45.64)	(78.89)
	ROIC	—	—	—	0.00	0.00	(186.60)	(267.46)	(85.23)	(191.36)	0.00
	ROE	—	—	—	2,715.29	3,204.02	(141.82)	(95.18)	(78.02)	(119.27)	665.30

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TYGO Tigo Energy, Inc.	$64.2M	5.5×	75.9×	+5.62% (above 0%: growing)	n/m	−81.15% (below 0%: shrinking)	39.35%	(6.61%)	Compare
PN PN Smart Energy Limited	$32.9M	—	—	—	—	—	—	—	Compare
FTCI FTC Solar, Inc.	$30.3M	— (loss-making)	5.1×	+30.83% (above 0%: growing)	n/m	+428.99% (above 0%: growing)	(8.54%)	(52.48%)
SPRU Spruce Power Holding Corporation	$28.1M	— (loss-making)	— (loss-making)	−8.75% (below 0%: shrinking)	n/m	−43.41% (below 0%: shrinking)	67.84%	32.21%	Compare
SMXT Solarmax Technology, Inc.	$24.5M	— (loss-making)	—	+48.82% (above 0%: growing)	n/m	−539.19% (below 0%: shrinking)	23.56%	(43.53%)	Compare
SPIEQ SPI Energy Co., Ltd.	$24.2M	— (loss-making)	— (loss-making)	+30.66% (above 0%: growing)	n/m	+270.79% (above 0%: growing)	13.35%	1.72%	Compare
BEEM Beam Global	$21.7M	— (loss-making)	— (loss-making)	+21.02% (above 0%: growing)	n/m	−141.34% (below 0%: shrinking)	17.83%	(34.99%)	Compare
ASTI Ascent Solar Technologies Inc.	$18.6M	— (loss-making)	— (loss-making)	+460.00% (above 0%: growing)	n/m	+1.36% (above 0%: growing)	(68.91%)	(2,043.59%)	Compare
ZEO Zeo Energy Corp.	$18.2M	— (loss-making)	—	−10.68% (below 0%: shrinking)	n/m	+75.65% (above 0%: growing)	47.15%	(18.49%)	Compare
Median of peers	$24.3M	—	—	+21.02%	—	−43.41%	23.56%	(18.49%)

All 26 Solar stocks →

FTC Solar, Inc. (FTCI) key facts

Strength: FTC Solar, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $99.7 million, up 110.5% from fiscal 2024.
FTC Solar, Inc. (FTCI) is a Solar company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, FTCI traded at $1.61, a market capitalization of $30.3 million.
Return on equity was 665.3% and debt-to-equity -0.75.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −4.59 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.