FTC Solar, Inc. (FTCI) quarterly income statement — complete revenue, gross profit & net income history
FTC Solar, Inc. (FTCI) annual income statement — 7-year revenue, gross profit & net income history
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Sales/Revenue | 32.81M | 26.16M | 17.27M | 32.86M | 26.03M | 19.99M | 20.8M | 13.2M | 10.14M | 11.43M | 12.59M | 23.2M | 30.55M | 32.36M | 40.89M | 26.22M | 16.57M | 30.72M | 49.55M | 101.72M |
| Revenue Growth % | 26.06% | 30.83% | -17.01% | 148.91% | 156.81% | 74.92% | 65.27% | -43.1% | -66.82% | -64.68% | -69.22% | -11.51% | 84.34% | 5.33% | -17.47% | -74.22% | -68.73% | -38.69% | -24.58% | 130.25% |
| Cost of Goods Sold | 30.91M | 28.39M | 18.49M | 25.96M | 24.44M | 23.91M | 24.25M | 17.04M | 14.44M | 13.77M | 14.7M | 22.51M | 27.17M | 30.16M | 38.86M | 28.13M | 26.09M | 37.23M | 58.84M | 110.3M |
| COGS % of Revenue | 94.21% | 108.54% | 107.11% | 79% | 93.88% | 119.6% | 116.57% | 129.06% | 142.48% | 120.5% | 116.75% | 97.02% | 88.94% | 93.2% | 95.02% | 107.3% | 157.42% | 121.2% | 118.74% | 108.43% |
| Gross Profit | 1.9M | -2.23M | -1.23M | 6.9M | 1.59M | -3.92M | -3.45M | -3.84M | -4.31M | -2.34M | -2.11M | 692K | 3.38M | 2.2M | 2.04M | -1.91M | -9.52M | -6.51M | -9.29M | -8.57M |
| Gross Margin % | 5.79% | -8.54% | -7.11% | 21% | 6.12% | -19.6% | -16.57% | -29.06% | -42.48% | -20.5% | -16.75% | 2.98% | 11.06% | 6.8% | 4.98% | -7.3% | -57.42% | -21.2% | -18.74% | -8.43% |
| Gross Profit Growth % | 19.26% | 43% | 64.4% | 279.83% | 137.02% | -67.26% | -63.52% | -654.48% | -227.43% | -206.45% | -203.59% | 136.15% | 135.51% | 133.8% | 121.91% | 77.68% | -18.36% | 59.44% | -7904.2% | -77.72% |
| Operating Expenses | 10.44M | 11.49M | 10.83M | 10.55M | 9.3M | 7.58M | 7.11M | 9.59M | 10.67M | 9.58M | 10.39M | 12.43M | 19.66M | 12.57M | 14.43M | 17.95M | 17.18M | 18.73M | 18.49M | 14.97M |
| OpEx % of Revenue | 31.82% | 43.94% | 62.73% | 32.11% | 35.72% | 37.91% | 34.19% | 72.65% | 105.27% | 83.82% | 82.58% | 53.57% | 64.34% | 38.84% | 35.29% | 68.45% | 103.66% | 60.96% | 37.32% | 14.71% |
| Selling, General & Admin | 9.51M | 10.28M | 9.71M | 9.45M | 8.07M | 6.45M | 6.19M | 8.12M | 9.2M | 8.05M | 8.96M | 10.98M | 17.73M | 10.7M | 12.51M | 15.54M | 15.05M | 16.02M | 15.79M | 13.08M |
| SG&A % of Revenue | 28.99% | 39.32% | 56.26% | 28.74% | 31.01% | 32.27% | 29.75% | 61.48% | 90.8% | 70.39% | 71.14% | 47.32% | 58.06% | 33.05% | 30.59% | 59.25% | 90.83% | 52.13% | 31.86% | 12.86% |
| Research & Development | 930K | 1.21M | 1.12M | 1.11M | 1.23M | 1.13M | 924K | 1.47M | 1.47M | 1.53M | 1.44M | 1.45M | 1.92M | 1.87M | 1.92M | 2.41M | 2.13M | 2.71M | 2.7M | 1.89M |
| R&D % of Revenue | 2.83% | 4.62% | 6.48% | 3.37% | 4.72% | 5.65% | 4.44% | 11.16% | 14.47% | 13.43% | 11.43% | 6.25% | 6.29% | 5.79% | 4.7% | 9.2% | 12.83% | 8.82% | 5.45% | 1.86% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8K | -50K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -8.54M | -13.73M | -12.06M | -3.65M | -7.71M | -11.5M | -10.56M | -13.43M | -14.98M | -11.92M | -12.5M | -11.74M | -16.28M | -10.37M | -12.4M | -19.86M | -26.69M | -25.24M | -27.78M | -23.54M |
| Operating Margin % | -26.03% | -52.48% | -69.84% | -11.11% | -29.6% | -57.52% | -50.76% | -101.71% | -147.75% | -104.32% | -99.32% | -50.58% | -53.28% | -32.04% | -30.31% | -75.75% | -161.08% | -82.16% | -56.06% | -23.14% |
| Operating Income Growth % | -10.84% | -19.38% | -14.19% | 72.81% | 48.55% | 3.56% | 15.53% | -14.42% | 7.99% | -15.02% | -0.85% | 40.91% | 39.02% | 58.92% | 55.37% | 15.64% | -17.23% | 66.77% | -246.4% | -107.63% |
| EBITDA | -8.09M | -13.3M | -11.69M | -3.27M | -7.42M | -11.19M | -10.26M | -12.99M | -14.56M | -11.52M | -12.1M | -11.37M | -15.94M | -10.04M | -12.06M | -19.54M | -26.38M | -25.09M | -27.66M | -23.41M |
| EBITDA Margin % | -24.64% | -50.84% | -67.73% | -9.96% | -28.49% | -55.99% | -49.31% | -98.36% | -143.64% | -100.75% | -96.11% | -48.98% | -52.18% | -31.01% | -29.5% | -74.53% | -159.17% | -81.69% | -55.81% | -23.01% |
| EBITDA Growth % | -9.05% | -18.79% | -13.99% | 74.8% | 49.07% | 2.8% | 15.21% | -14.26% | 8.66% | -14.76% | -0.29% | 41.85% | 39.57% | 60.01% | 56.38% | 16.5% | -16.11% | 66.95% | -245.28% | -106.49% |
| D&A (Non-Cash Add-back) | 454K | 430K | 365K | 378K | 290K | 305K | 302K | 442K | 417K | 408K | 404K | 371K | 338K | 332K | 334K | 318K | 317K | 144K | 121K | 137K |
| EBIT | 11.2M | -4.88M | 36.69M | -29.42M | -21.91M | -14.66M | -4.28M | -12.1M | -15.12M | -12.18M | -8.65M | -11.63M | -16.66M | -10.51M | -11.57M | -20.18M | -25.63M | -25.17M | -27.42M | -23.55M |
| Net Interest Income | -4.29M | -4.33M | -3.89M | -4.12M | -1.98M | -726K | -705K | -208K | 24K | 1K | -136K | -59K | -108K | -28K | -58K | -96K | -160K | -427K | -295K | -299K |
| Interest Income | 99K | 5K | 5K | 6K | 6K | 5K | 6K | 0 | 38K | 118K | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 0 | 0 | 0 |
| Interest Expense | 4.29M | 4.33M | 3.9M | 4.13M | 1.99M | 731K | 711K | 208K | 14K | 117K | 136K | 59K | 108K | 28K | 58K | 96K | 260K | 427K | 295K | 299K |
| Other Income/Expense | 15.45M | -13.18M | 44.85M | -29.89M | -16.19M | -3.89M | 7M | 1.13M | -139K | -252K | 3.72M | 46K | -494K | -169K | 766K | -220K | 907K | -354K | 61K | -307K |
| Pretax Income | 6.91M | -26.91M | 32.79M | -33.55M | -23.89M | -15.39M | -3.56M | -12.3M | -15.12M | -12.18M | -8.78M | -11.69M | -16.77M | -10.54M | -11.63M | -20.08M | -25.79M | -25.59M | -27.72M | -23.85M |
| Pretax Margin % | 21.06% | -102.87% | 189.95% | -102.08% | -91.79% | -76.98% | -17.14% | -93.19% | -149.12% | -106.53% | -69.77% | -50.39% | -54.9% | -32.56% | -28.44% | -76.59% | -155.61% | -83.31% | -55.93% | -23.45% |
| Income Tax | 210K | 217K | 195K | 188K | 44K | 39K | 254K | -68K | 244K | 65K | -11K | -513K | 166K | -122K | 131K | 420K | -151K | 90K | 76K | 32K |
| Effective Tax Rate % | 3.04% | -0.81% | 0.59% | -0.56% | -0.18% | -0.25% | -7.12% | 0.55% | -1.61% | -0.53% | 0.13% | 4.39% | -0.99% | 1.16% | -1.13% | -2.09% | 0.59% | -0.35% | -0.27% | -0.13% |
| Net Income | 6.7M | -27.12M | 32.6M | -33.73M | -23.94M | -15.43M | -3.82M | -12.23M | -15.36M | -12.24M | -8.77M | -11.18M | -16.94M | -10.41M | -11.76M | -20.5M | -25.64M | -25.68M | -27.79M | -23.88M |
| Net Margin % | 20.42% | -103.7% | 188.82% | -102.66% | -91.96% | -77.18% | -18.36% | -92.68% | -151.53% | -107.1% | -69.68% | -48.17% | -55.44% | -32.18% | -28.76% | -78.19% | -154.69% | -83.6% | -56.09% | -23.48% |
| Net Income Growth % | 128% | -75.79% | 953.6% | -175.72% | -55.86% | -26.05% | 56.46% | -9.47% | 9.32% | -17.54% | 25.43% | 45.48% | 33.93% | 59.45% | 57.68% | 14.16% | -11.87% | 54.01% | -273.46% | -145.5% |
| Net Income (Continuing) | 6.7M | -27.12M | 32.6M | -33.73M | -23.94M | -15.43M | -3.82M | -12.23M | -15.36M | -12.24M | -8.77M | -11.18M | -16.94M | -10.41M | -11.76M | -20.5M | -25.64M | -25.68M | -27.79M | -23.88M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.54 | -1.69 | -0.72 | -2.23 | -1.61 | -1.18 | -0.58 | -0.96 | -1.20 | -0.97 | -0.70 | -0.09 | -0.14 | -0.09 | -0.11 | -0.20 | -0.25 | -0.26 | -0.28 | -0.25 |
| EPS Growth % | 66.46% | -43.22% | -24.14% | -132.29% | -34.17% | -21.65% | 17.14% | -975.03% | -757.14% | -949.78% | -536.36% | 55.35% | 44% | 64.46% | 60.71% | 20% | -4.17% | 62.86% | -209.05% | -78.57% |
| EPS (Basic) | 0.39 | -1.69 | -0.72 | -2.23 | -1.61 | -1.18 | -0.30 | -0.96 | -1.20 | -0.97 | -0.70 | -0.09 | -0.14 | -0.09 | -0.11 | -0.20 | -0.25 | -0.26 | -0.28 | -0.25 |
| Diluted Shares Outstanding | 23.47M | 16.05M | 15.14M | 15.14M | 14.9M | 13.1M | 14.59M | 12.79M | 12.74M | 12.62M | 12.56M | 12.51M | 11.98M | 11.27M | 10.68M | 10.39M | 10.22M | 10.03M | 9.92M | 9.6M |
| Basic Shares Outstanding | 17.08M | 16.05M | 15.14M | 15.14M | 14.9M | 13.1M | 12.89M | 12.79M | 12.74M | 12.62M | 12.56M | 12.51M | 11.98M | 11.27M | 10.68M | 10.39M | 10.22M | 10.03M | 9.92M | 9.55M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |