FTC Solar | 8-K: FY2025 Q3 Revenue Beats Estimate at USD 26.03 M

LB filings
2025.11.12 11:42
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Revenue: As of FY2025 Q3, the actual value is USD 26.03 M, beating the estimate of USD 21.12 M.

EPS: As of FY2025 Q3, the actual value is USD -1.61.

EBIT: As of FY2025 Q3, the actual value is USD -5.723 M.

Segment Revenue

  • Total Revenue: $26.0 million for Q3 2025, representing a 156.8% increase year-over-year and a 30.2% increase compared to the prior quarter.
  • Product Revenue: $20.061 million for Q3 2025, compared to $7.411 million in Q3 2024.
  • Service Revenue: $5.969 million for Q3 2025, compared to $2.725 million in Q3 2024.

Operational Metrics

  • Gross Profit: GAAP gross profit was $1.6 million, or 6.1% of revenue, compared to a gross loss of $3.9 million, or 19.6% of revenue, in the prior quarter.
  • Non-GAAP Gross Profit: $2.0 million, or 7.7% of revenue, compared to a Non-GAAP gross loss of $3.9 million in the prior-year period.
  • Operating Expenses: GAAP operating expenses were $9.3 million, and Non-GAAP operating expenses were $8.0 million, compared to $8.1 million in the year-ago quarter.
  • Loss from Operations: GAAP loss from operations was - $7.705 million, compared to - $14.976 million in Q3 2024.
  • Net Loss: GAAP net loss was - $23.938 million, compared to - $15.359 million in Q3 2024.

Cash Flow

  • Net Cash Used in Operations: - $25.416 million for the nine months ended September 30, 2025, compared to - $18.008 million for the same period in 2024.
  • Net Cash Provided by Investing Activities: $2.557 million for the nine months ended September 30, 2025, compared to $930 thousand for the same period in 2024.
  • Net Cash Provided by Financing Activities: $35.900 million for the nine months ended September 30, 2025, compared to $3 thousand for the same period in 2024.

Unique Metrics

  • Strategic Financing Facility: Secured a $75 million strategic financing facility during the quarter, with $37.5 million closed.
  • Tracker Supply Agreement: Announced a 1GW tracker supply agreement with Levona Renewables.

Outlook / Guidance

  • For the fourth quarter, FTC Solar expects revenue at the midpoint of its guidance range to be up approximately 25% compared to the third quarter.
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