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Stocks · Technology · Semiconductors & Related Devices

FTC Solar, Inc.

FTCI Clue Score29
United States Fiscal year ends December CIK 0001828161
$1.93 +0.00% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $1.93 −70.58% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 28 Apr 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue53.1Operating income−12.4Net income−13.5EPS, diluted−0.22Fiscal year 2020Revenue187.4 +252.7%Operating income−16.9Net income−15.9EPS, diluted−0.23Fiscal year 2021Revenue270.5 +44.4%Operating income−126.8Net income−106.6EPS, diluted−1.24Fiscal year 2022Revenue123.1 −54.5%Operating income−99.6Net income−99.6EPS, diluted−0.98Fiscal year 2023Revenue127.0 +3.2%Operating income−50.8Net income−50.3EPS, diluted−4.35Fiscal year 2024Revenue47.4 −62.7%Operating income−52.8Net income−48.6EPS, diluted−3.83Fiscal year 2025Revenue99.7 +110.5%Operating income−35.4Net income−79.6EPS, diluted−5.68
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 53.1 187.4 270.5 123.1 127.0 47.4 99.7
Growth +252.7% +44.4% −54.5% +3.2% −62.7% +110.5%
Operating income −12.4 −16.9 −126.8 −99.6 −50.8 −52.8 −35.4
Net income −13.5 −15.9 −106.6 −99.6 −50.3 −48.6 −79.6
Growth
EPS, diluted −0.22 −0.23 −1.24 −0.98 −4.35 −3.83 −5.68

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin−3.7%Operating margin−23.3%Net margin−25.4%Free cash flow margin−0.5%Fiscal year 2020Gross margin1.9%Operating margin−9.0%Net margin−8.5%Free cash flow margin0.2%Fiscal year 2021Gross margin−12.0%Operating margin−46.9%Net margin−39.4%Free cash flow margin−49.5%Fiscal year 2022Gross margin−22.1%Operating margin−80.9%Net margin−80.9%Free cash flow margin−45.1%Fiscal year 2023Gross margin6.5%Operating margin−40.0%Net margin−39.6%Free cash flow margin−42.1%Fiscal year 2024Gross margin−26.6%Operating margin−111.6%Net margin−102.6%Free cash flow margin−76.7%Fiscal year 2025Gross margin−0.9%Operating margin−35.5%Net margin−79.8%Free cash flow margin−34.7%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin −3.7% 1.9% −12.0% −22.1% 6.5% −26.6% −0.9%
Operating margin −23.3% −9.0% −46.9% −80.9% −40.0% −111.6% −35.5%
Net margin −25.4% −8.5% −39.4% −80.9% −39.6% −102.6% −79.8%
Free cash flow margin −0.5% 0.2% −49.5% −45.1% −42.1% −76.7% −34.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−0.3Capital expenditure−0.0Free cash flow−0.3Buybacks0.0Fiscal year 2020Operating cash flow0.6Capital expenditure−0.3Free cash flow0.4Buybacks0.0Fiscal year 2021Operating cash flow−132.9Capital expenditure−1.0Free cash flow−133.9 −35,992.5%Buybacks−54.2Fiscal year 2022Operating cash flow−54.5Capital expenditure−1.0Free cash flow−55.5Buybacks0.0Fiscal year 2023Operating cash flow−52.7Capital expenditure−0.8Free cash flow−53.5Buybacks0.0Fiscal year 2024Operating cash flow−34.7Capital expenditure−1.6Free cash flow−36.3Fiscal year 2025Operating cash flow−33.4Capital expenditure−1.1Free cash flow−34.6
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.3 0.6 −132.9 −54.5 −52.7 −34.7 −33.4
Capital expenditure −0.0 −0.3 −1.0 −1.0 −0.8 −1.6 −1.1
Free cash flow −0.3 0.4 −133.9 −55.5 −53.5 −36.3 −34.6
Growth −35,992.5%
Buybacks 0.0 0.0 −54.2 0.0 0.0 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash7.2Shareholders’ equity−8.4Fiscal year 2020Cash32.4Total debt0.8Net cash (debt)31.6Shareholders’ equity7.5Debt to equity0.11Fiscal year 2021Cash102.2Total debt0.0Net cash (debt)102.2Shareholders’ equity142.9Debt to equity0.00Fiscal year 2022Cash44.4Shareholders’ equity66.5Fiscal year 2023Cash25.2Total debt0.0Net cash (debt)25.2Shareholders’ equity62.5Debt to equity0.00Fiscal year 2024Cash11.2Total debt9.5Net cash (debt)1.8Shareholders’ equity19.0Debt to equity0.50Fiscal year 2025Cash21.1Total debt9.9Net cash (debt)11.2Shareholders’ equity−43.0
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 7.2 32.4 102.2 44.4 25.2 11.2 21.1
Total debt n/a 0.8 0.0 n/a 0.0 9.5 9.9
Net cash (debt) n/a 31.6 102.2 n/a 25.2 1.8 11.2
Shareholders’ equity −8.4 7.5 142.9 66.5 62.5 19.0 −43.0
Debt to equity n/a 0.11 0.00 n/a 0.00 0.50 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−3.7% 1.9% −12.0% −22.1% 6.5% −26.6% −0.9%
−23.3% −9.0% −46.9% −80.9% −40.0% −111.6% −35.5%
−25.5% −8.5% −39.3% −80.6% −39.9% −102.2% −79.3%
−25.4% −8.5% −39.4% −80.9% −39.6% −102.6% −79.8%
−0.5% 0.2% −49.5% −45.1% −42.1% −76.7% −34.7%
Spending
7.5% 2.8% 4.3% 8.1% 5.6% 12.5% 4.4%
8.6% 6.3% 28.1% 43.7% 29.2% 53.7% 24.0%
0.0% 0.1% 0.4% 0.8% 0.6% 3.5% 1.1%
Returns
n/a −213.7% −74.6% −149.9% −80.5% −255.3% n/a
n/a −22.3% −43.9% −74.1% −40.9% −54.0% −71.2%
Balance and payout
n/a 0.11 0.00 n/a 0.00 0.50 n/a
n/a 89.6% 41.2% 50.6% 49.2% 78.8% 138.4%
n/a 0.0% n/a n/a n/a n/a n/a