Financial Snapshot

Revenue
$57.35M
TTM
Gross Margin
-19.19%
TTM
Net Earnings
-$47.55M
TTM
Current Assets
Q3 2024
Current Liabilities
Q3 2024
Current Ratio
132.92%
Q3 2024
Total Assets
Q3 2024
Total Liabilities
Q3 2024
Book Value
$30.41M
Q3 2024
Cash
Q3 2024
P/E
-0.8142
Nov 29, 2024 EST
Free Cash Flow
-$25.99M
TTM

Revenues

Revenues

Revenue YoY Change

Revenues

Concept 2023 2022 2021 2020 2019
Revenue $127.0M $123.1M $270.5M $187.4M $53.12M
YoY Change 3.2% -54.51% 44.39% 252.67%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept 2023 2022 2021 2020 2019
Revenue $127.0M $123.1M $270.5M $187.4M $53.12M
Cost Of Revenue $118.7M $150.3M $303.1M $183.7M $55.08M
Gross Profit $8.307M -$27.23M -$32.55M $3.639M -$1.951M
Gross Profit Margin 6.54% -22.12% -12.03% 1.94% -3.67%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept 2023 2022 2021 2020 2019
Selling, General & Admin $51.92M $62.40M $82.72M $15.34M $6.460M
YoY Change -16.79% -24.57% 439.13% 137.51%
% of Gross Profit 624.99% 421.63%
Research & Development $7.166M $9.949M $11.54M $5.222M $3.960M
YoY Change -27.97% -13.79% 120.99% 31.87%
% of Gross Profit 86.26% 143.5%
Depreciation & Amortization $833.0K $631.0K $232.0K $14.00K $12.00K
YoY Change 32.01% 171.98% 1557.14% 16.67%
% of Gross Profit 10.03% 0.38%
Operating Expenses $59.08M $72.34M $94.26M $20.57M $10.42M
YoY Change -18.33% -23.25% 358.35% 97.36%
Operating Profit -$50.78M -$99.57M -$126.8M -$16.93M -$12.37M
YoY Change -49.0% -21.48% 649.17% 36.82%

Interest Expenses

Interest Expenses To Operating Income %

No data

Other Expense/Income

Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019
Interest Expense $1.066M $767.0K $20.02M -$400.0K -$500.0K
YoY Change 38.98% -96.17% -5103.75% -20.0%
% of Operating Profit
Other Income/Expense, Net -$257.0K -$373.0K -$67.00K $0.00
YoY Change -31.1% 456.72%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

No data

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept 2023 2022 2021 2020 2019
Pretax Income -$50.63M -$99.18M -$106.4M -$16.01M -$13.53M
YoY Change -48.95% -6.81% 564.83% 18.27%
Income Tax -$338.0K $435.0K $169.0K -$83.00K -$39.00K
% Of Pretax Income
Net Earnings -$50.29M -$99.61M -$106.6M -$15.92M -$13.50M
YoY Change -49.51% -6.54% 569.36% 18.0%
Net Earnings / Revenue -39.6% -80.94% -39.4% -8.5% -25.4%
Basic Earnings Per Share -$0.44 -$0.98 -$1.24 -$0.23 -$0.22
Diluted Earnings Per Share -$0.44 -$0.98 -$1.24 -$0.23 -$0.22

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

No data

Assets & Liabilities

Concept 2023 2022 2021 2020 2019
Cash & Short-Term Investments $25.24M $44.39M $102.2M $32.36M $7.220M
YoY Change -43.15% -56.56% 215.78% 348.2%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $14.09M $10.30M $17.19M $7.940M $4.860M
YoY Change 36.73% -40.04% 116.45% 63.37%
Inventory $3.905M $14.95M $8.860M $1.690M $4.510M
Prepaid Expenses
Receivables $65.28M $49.05M $107.5M $23.73M $14.05M
Other Receivables $0.00 $0.00 $0.00 $0.00 $0.00
Total Short-Term Assets $108.5M $118.7M $235.8M $65.72M $30.64M
YoY Change -8.58% -49.66% 258.76% 114.49%
Property, Plant & Equipment $3.642M $2.856M $3.315M $570.0K $40.00K
YoY Change 27.52% -13.85% 481.58% 1325.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $240.0K $0.00 $1.860M $2.580M
YoY Change -100.0% -27.91%
Other Assets $2.785M $4.201M $3.926M $3.250M $540.0K
YoY Change -33.71% 7.0% 20.8% 501.85%
Total Long-Term Assets $14.56M $15.71M $7.241M $5.670M $3.190M
YoY Change -7.3% 116.93% 27.71% 77.74%
Total Assets $123.1M $134.4M $243.0M $71.39M $33.83M
YoY Change
Accounts Payable $7.979M $15.80M $39.26M $17.13M $8.190M
YoY Change -49.5% -59.76% 129.21% 109.16%
Accrued Expenses $35.59M $24.31M $48.31M $18.00M $5.640M
YoY Change 46.37% -49.68% 168.4% 219.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.000M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $54.67M $60.34M $93.25M $59.81M $33.72M
YoY Change -9.41% -35.29% 55.91% 77.37%
Long-Term Debt $0.00 $0.00 $0.00 $780.0K $7.830M
YoY Change -100.0% -90.04%
Other Long-Term Liabilities $5.934M $7.608M $6.906M $3.350M $720.0K
YoY Change -22.0% 10.17% 106.15% 365.28%
Total Long-Term Liabilities $5.934M $7.608M $6.906M $4.130M $8.550M
YoY Change -22.0% 10.17% 67.22% -51.7%
Total Liabilities $60.60M $67.95M $100.2M $63.94M $42.28M
YoY Change -10.82% -32.16% 56.64% 51.23%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

No data

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept 2023 2022 2021 2020 2019
Basic Shares Outstanding 115.5M 101.4M 86.04M 68.81M 62.04M
Diluted Shares Outstanding 115.5M 101.4M 86.04M 68.81M 62.04M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Dividends

No data

Stock Price

Market Cap: $38.713 Million

About FTC Solar, Inc.

FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services. The company is headquartered in Austin, Texas and currently employs 213 full-time employees. The company went IPO on 2021-04-28. The company offers trackers and software solutions targeting the utility-scale solar energy markets to customers in the United States, Asia, Europe, the Middle East, North Africa, South Africa and Australia. The company is engaged in the sale of solar tracker systems and customized components for those systems, individual part sales for certain specific transactions and the sale of term-based software licenses. Its tracker system is marketed under the Voyager brand name (Voyager), which is built upon a self-powered, two-panel in- portrait (2P) single-axis tracker design utilizing a 60-meter independent row architecture. In addition, its Pioneer 1P solar tracker solution leverages the technological advantages of Voyager. The company also offers shipping and handling services, engineering consulting and pile testing services, subscription-based enterprise licensing and maintenance and support services.

Industry: Semiconductors & Related Devices Peers: ESS Tech, Inc. ALLIENT INC Heliogen, Inc. LSI INDUSTRIES INC POWELL INDUSTRIES INC PREFORMED LINE PRODUCTS CO SKYX Platforms Corp. Thermon Group Holdings, Inc.