Overview
Compare with O2Micro International Limited, AXT INC or DSP Group, or pick any stock.
- TickerFTCI on Nasdaq2
- IndustrySemiconductors & Related Devices2
- HeadquartersAustin, United States2
- Incorporated inDE3
- Business address10900 Stonelake Blvd., Suite 100 Quarry Oaks Ii Building, Austin, Tx3
- Filer category, Emerging growth company3
- Legal formCorporation2
- LEI5493009MODNZ2HMPX7612
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O VCORP SERVICES, LLC, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 62690812
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-0.9%Gross margin5
-35.5%Operating margin5
-79.8%Net margin5
110.5%Revenue growth, 20255
-$34.6MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 81% of the revenue FTC Solar, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Product | $37.5M | $80.3M |
| Service | $9.8M | $19.4M |
Regions
United States brought in 99% of the revenue FTC Solar, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $42.3M | $98.2M |
| AUMember | $4.4M | $1.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue88¢$100.6M
- Research and development4¢$4.4M
- Interest7¢$8.2M
- Income tax0¢$525.0K
Out of $99.7M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $99.7M | $47.4M |
| Total cost of revenue | $100.6M | $59.9M |
| Gross loss | -$880.0K | -$12.6M |
| Research and development | $4.4M | $5.9M |
| Selling and marketing | $6.2M | $8.9M |
| General and administrative | $24.0M | $25.4M |
| Total Operating expenses | $34.5M | $40.2M |
| Loss from operations | -$35.4M | -$52.8M |
| Interest expense | -$8.2M | -$665.0K |
| Interest income | $23.0K | $346.0K |
| Gain from disposal of investment in unconsolidated subsidiary | $3.2M | $8.8M |
| Gain on sale of Atlas | $140.0K | $906.0K |
| Loss from change in fair value of warrant liability | -$40.7M | -$4.3M |
| Loss on extinguishment of debt | -$173.0K | $0 |
| Bargain purchase gain | $377.0K | $0 |
| Other income, net | $140.0K | $468.0K |
| Income (loss) from unconsolidated subsidiary | $1.6M | -$1.1M |
| Loss before income taxes | -$79.1M | -$48.4M |
| Provision for income taxes | -$525.0K | -$230.0K |
| Net loss | -$79.6M | -$48.6M |
| Foreign currency translation adjustments | $252.0K | -$249.0K |
| Comprehensive loss | -$79.3M | -$48.9M |
| Basic | -$5.68 | -$3.83 |
| Diluted | -$5.68 | -$3.83 |
| Basic weighted-average number of common shares outstanding | 14.0M shares | 12.7M shares |
| Diluted weighted-average number of common shares outstanding | 14.0M shares | 12.7M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $21.1M | $11.2M | $25.2M | ||
| Accounts receivable, net of allowance for credit losses of $3,069 and $1,717 at December 31, 2025 and December 31, 2024, respectively | $55.7M | $39.7M | |||
| Inventories | $9.6M | $10.1M | |||
| Prepaid and other current assets | $11.3M | $15.0M | |||
| Total current assets | $97.8M | $76.1M | |||
| Operating lease right-of-use assets | $983.0K | $1.1M | |||
| Property and equipment, net | $3.8M | $2.2M | |||
| Goodwill | $7.4M | $7.1M | $7.4M | ||
| Equity method investment | $0 | $954.0K | |||
| Other assets | $1.8M | $2.3M | |||
| Total assets at period end | $111.8M | $89.9M | |||
| Accounts payable | $13.2M | $13.0M | |||
| Short-term debt | $12.7M | $0 | |||
| Accrued expenses | $23.8M | $20.1M | |||
| Income taxes payable | $630.0K | $325.0K | |||
| Deferred revenue | $7.2M | $5.3M | |||
| Other current liabilities | $10.7M | $10.3M | |||
| Total current liabilities | $68.2M | $49.1M | |||
| Long-term debt | $9.9M | $9.5M | |||
| Operating lease liability, net of current portion | $553.0K | $411.0K | |||
| Warrant liability | $74.5M | $9.5M | $0 | ||
| Other non-current liabilities | $1.6M | $2.4M | |||
| Total liabilities | $154.8M | $70.9M | |||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2025 and December 31, 2024 | $0 | $0 | |||
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 15,537,344 and 12,853,823 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | $2.0K | $1.0K | |||
| Treasury stock, at cost; 1,076,257 shares as of December 31, 2025 and December 31, 2024 | $0 | $0 | $0 | $0 | |
| Additional paid-in capital | $384.6M | $367.3M | |||
| Accumulated other comprehensive loss | -$290.0K | -$542.0K | |||
| Accumulated deficit | -$427.3M | -$347.7M | |||
| Total stockholders' equity (deficit) | -$43.0M | $19.0M | $62.5M | ||
| Total liabilities and stockholders' equity (deficit) | $111.8M | $89.9M | |||
| Allowance for credit losses | $3.1M | $1.7M | $8.6M | ||
| Preferred stock, par value | $0.00 | $0.00 | |||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | |||
| Preferred stock, shares issued | 0 shares | 0 shares | |||
| Common stock, par value | $0.00 | $0.00 | |||
| Common stock, shares authorized | 850.0M shares | 850.0M shares | |||
| Common stock, shares issued | 15.5M shares | 12.9M shares | |||
| Common stock, shares outstanding | 15.5M shares | 12.9M shares | |||
| Treasury Stock, Common, Shares | 1.1M shares | 1.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2021-03-31 | 2020-12-31 | 2020-07-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | $21.1M | $11.2M | $25.2M | |||
| Accounts receivable, net of allowance for credit losses of $3,069 and $1,717 at December 31, 2025 and December 31, 2024, respectively | $55.7M | $39.7M | ||||
| Inventories | $9.6M | $10.1M | ||||
| Prepaid and other current assets | $11.3M | $15.0M | ||||
| Total current assets | $97.8M | $76.1M | ||||
| Operating lease right-of-use assets | $983.0K | $1.1M | ||||
| Property and equipment, net | $3.8M | $2.2M | ||||
| Goodwill | $7.4M | $7.1M | $7.4M | |||
| Equity method investment | $0 | $954.0K | ||||
| Other assets | $1.8M | $2.3M | ||||
| Total assets at period end | $111.8M | $89.9M | ||||
| Accounts payable | $13.2M | $13.0M | ||||
| Short-term debt | $12.7M | $0 | ||||
| Accrued expenses | $23.8M | $20.1M | ||||
| Income taxes payable | $630.0K | $325.0K | ||||
| Deferred revenue | $7.2M | $5.3M | ||||
| Other current liabilities | $10.7M | $10.3M | ||||
| Total current liabilities | $68.2M | $49.1M | ||||
| Long-term debt | $9.9M | $9.5M | ||||
| Operating lease liability, net of current portion | $553.0K | $411.0K | ||||
| Warrant liability | $74.5M | $9.5M | $0 | |||
| Other non-current liabilities | $1.6M | $2.4M | ||||
| Total liabilities | $154.8M | $70.9M | ||||
| Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2025 and December 31, 2024 | $0 | $0 | ||||
| Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 15,537,344 and 12,853,823 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | $2.0K | $1.0K | ||||
| Treasury stock, at cost; 1,076,257 shares as of December 31, 2025 and December 31, 2024 | $0 | $0 | $0 | $0 | $0 | |
| Additional paid-in capital | $384.6M | $367.3M | ||||
| Accumulated other comprehensive loss | -$290.0K | -$542.0K | ||||
| Accumulated deficit | -$427.3M | -$347.7M | ||||
| Total stockholders' equity (deficit) | -$43.0M | $19.0M | $62.5M | |||
| Total liabilities and stockholders' equity (deficit) | $111.8M | $89.9M | ||||
| Allowance for credit losses | $3.1M | $1.7M | $8.6M | |||
| Preferred stock, par value | $0.00 | $0.00 | ||||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | ||||
| Preferred stock, shares issued | 0 shares | 0 shares | ||||
| Common stock, par value | $0.00 | $0.00 | ||||
| Common stock, shares authorized | 850.0M shares | 850.0M shares | ||||
| Common stock, shares issued | 15.5M shares | 12.9M shares | ||||
| Common stock, shares outstanding | 15.5M shares | 12.9M shares | ||||
| Treasury Stock, Common, Shares | 1.1M shares | 1.1M shares |
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Income (Loss) | -$79.6M | -$48.6M |
| Stock-based compensation | $5.0M | $5.4M |
| Depreciation and amortization | $1.3M | $1.7M |
| Loss from change in fair value of warrant liability | $40.7M | $4.3M |
| Amortization of debt discount and issue costs | $3.8M | $296.0K |
| Paid-in-kind non-cash interest | $2.6M | $146.0K |
| Provision for obsolete and slow-moving inventory | $0 | $177.0K |
| (Income) loss from unconsolidated subsidiary | -$1.6M | $1.1M |
| Gain from disposal of investment in unconsolidated subsidiary | -$3.2M | -$8.8M |
| Gain on sale of Atlas | -$140.0K | -$906.0K |
| Loss on extinguishment of debt | $173.0K | $0 |
| Bargain purchase gain | -$377.0K | $0 |
| Warranties issued and remediation added | $3.1M | $7.2M |
| Warranty recoverable from manufacturer | $366.0K | $558.0K |
| Credit loss provisions | $1.4M | $2.1M |
| Deferred income taxes | $221.0K | $83.0K |
| Lease expense | $1.2M | $1.1M |
| Accounts receivable | -$10.2M | $23.5M |
| Inventories | $1.4M | -$6.4M |
| Prepaid and other current assets | $3.5M | -$934.0K |
| Other assets | $35.0K | -$376.0K |
| Accounts payable | -$4.5M | $5.0M |
| Accruals and other current liabilities | $2.6M | -$19.3M |
| Deferred revenue | $1.9M | $1.8M |
| Other non-current liabilities | -$1.6M | -$2.7M |
| Lease payments and other, net | -$1.4M | -$1.0M |
| Net cash used in operations | -$33.4M | -$34.7M |
| Purchases of property and equipment | -$1.1M | -$1.6M |
| Proceeds from sale of Atlas software platform | $140.0K | $900.0K |
| Proceeds from sale of property and equipment | $6.0K | $0 |
| Equity method investment in Alpha Steel | $0 | -$1.8M |
| Acquisitions, net of cash acquired | $580.0K | $0 |
| Proceeds from disposal of investment in unconsolidated subsidiary | $3.2M | $8.8M |
| Net cash provided by investing activities | $2.8M | $6.3M |
| Proceeds from borrowings | $36.0M | $14.6M |
| Sale of common stock | $4.7M | $0 |
| Stock Offering costs paid | -$122.0K | $0 |
| Financing costs paid | -$159.0K | -$60.0K |
| Proceeds from stock option exercises | $15.0K | $8.0K |
| Net cash provided by financing activities | $40.4M | $14.5M |
| Effect of exchange rate changes on cash and cash equivalents | $102.0K | -$49.0K |
| Increase (decrease) in cash and cash equivalents | $9.9M | -$14.0M |
| Purchases of property and equipment included in ending accounts payable and accruals | $17.0K | $51.0K |
| Fair value of common stock issued upon warrant exercise | $7.9M | $0 |
| Alpha Steel purchase price included in short-term debt | $2.6M | $0 |
| Right-of-use asset and lease liability recognition for new leases | $643.0K | $500.0K |
| Paid-in-kind non-cash interest added to term loan principal | $2.6M | $146.0K |
| Cash paid during the period for interest | $786.0K | $222.0K |
| Cash paid during the period for taxes, net of refunds | $12.0K | $133.0K |
No quarter-by-quarter statement was filed.
Corporate structure
FTC Solar, Inc. sits at the top of its group. 8 entities, 6 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of FTC Solar, Inc.
- David Springer Filed SCHEDULE 13G/A on FTC Solar, Inc., latest Feb 13, 2026 (5 filings since Feb 14, 2022)
- ARC Family Trust Filed SCHEDULE 13G/A on FTC Solar, Inc., latest Feb 14, 2025 (4 filings since Feb 14, 2022)
- South Lake One LLC Filed SC 13G/A on FTC Solar, Inc., latest Feb 1, 2023 (2 filings since Feb 14, 2022)
- FTC Solar, Inc. Austin, Texas, United States
- Alpha Steel LLC Subsidiary · Delaware, United States
- FTC Capital, LLC Subsidiary · Delaware, United States
- FTC Solar (China) Co., Ltd. Subsidiary · China
- FTC Solar Australia Pty Ltd. Subsidiary · Australia
- FTC Solar India Private Ltd. Subsidiary · India
- FTC Solar South Africa (PTY) Ltd. Subsidiary · South Africa
- FTC Solar Spain, S.L. Subsidiary · Spain
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What FTC Solar, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $7.8M5 Dec 31, 2025 | $5.0M5 Dec 31, 2024 | +57.6% |
| Accumulated depreciation | $4.0M5 Dec 31, 2025 | $2.7M5 Dec 31, 2024 | +46.6% |
| Property and equipment, net | $3.8M5 Dec 31, 2025 | $2.2M5 Dec 31, 2024 | +71.1% |
| Operating-lease assets (leased space) | $983.0K5 Dec 31, 2025 | $1.1M5 Dec 31, 2024 | −14.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $21.1M5 Dec 31, 2025 | $11.2M5 Dec 31, 2024 | +87.7% |
| Stakes in other companies (equity method) | $05 Dec 31, 2025 | $954.0K5 Dec 31, 2024 | −100.0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $7.4M5 Dec 31, 2025 | $7.1M5 Dec 31, 2024 | +4.3% |
| Intangible assets, net (excluding goodwill) | $09 Dec 31, 2024 | $542.0K9 Dec 31, 2023 | −100.0% |
| Finite-lived intangibles, gross | $2.0M9 Dec 31, 2024 | $2.6M9 Dec 31, 2023 | −21.2% |
| Accumulated amortization | -$2.0M9 Dec 31, 2024 | -$2.0M9 Dec 31, 2023 | 0% |
| Finite-lived intangibles, net | $09 Dec 31, 2024 | $542.0K9 Dec 31, 2023 | −100.0% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $9.6M5 Dec 31, 2025 | $10.1M5 Dec 31, 2024 | −5.1% |
| Raw materials | $452.0K5 Dec 31, 2025 | $05 Dec 31, 2024 | |
| Work in process | $227.0K5 Dec 31, 2025 | $05 Dec 31, 2024 | |
| Finished goods | $9.4M5 Dec 31, 2025 | $10.7M5 Dec 31, 2024 | −11.4% |
Properties, in its own words
Office and warehouse
We lease certain specified office space in a co-working building for our corporate headquarters staff located in Austin, Texas under an agreement that expires on April 30, 2026, subject to automatic one-month extensions until terminated by either party.
The rest of Item 2
Effective August 1, 2025, we entered into a lease, expiring October 31, 2027 for specified office space in a co-working building for our employees in Chennai, India.
Effective December 1, 2025, we entered into a sublease, expiring on May 15, 2028, for approximately 4,000 square feet of office space for certain members of the Executive Leadership Team currently located in Ft. Lauderdale, Florida.
We also lease approximately 5,300 square feet of warehouse space and 1,100 square feet of sales and support office space in Brendale, Australia.
We entered into a lease agreement, effective June 1 2025, for approximately 5.18 acres of land in India to allow us to conduct research and development activities on solar trackers and other connected activities. This lease expires May 31, 2030.
In February 2023, we entered into a five-year lease for a research facility in Sequin, Texas consisting of 261,360 square feet of space.
We also have a lease expiring in May 2026 for an applications laboratory located in Austin, Texas, consisting of 4,700 square feet.
Alpha Steel
We sublease certain space in a facility associated with the production line for Alpha Steel. Our sublease is scheduled to expire on April 30, 2026, unless the parties holding the original lease agree to an extension, after which our sublease would be eligible for extension.
Other
Apart from our acquisition of Alpha Steel, and the related sublease we have on the Alpha Steel facility, the remainder of our manufacturing is outsourced to contract manufacturing partners, and we currently do not own or lease any other manufacturing facilities.
We believe that our existing properties are in good condition and are sufficient and suitable for the conduct of our business for the foreseeable future. To the extent our needs change as our business grows, we expect that additional space and facilities will be available.
Additional information regarding our leases may be found in Note 8, "Leases" included in our consolidated financial statements in Part II, Item 8 of this Annual Report.
Item 2 of the 10-K filed Mar 24, 2026.12
Leadership
Who has led FTC Solar, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
2025
- Chief executive officerAnthony Carroll May 6, 2026 to now13
- Chief executive officerYann Brandt Aug 19, 2024 to May 6, 202614
- Chief executive officerAnthony Etnyre Apr 27, 2021 to Apr 27, 202115
- Chief executive officerSean Hunkler Oct 1, 2021 to Apr 17, 202316
- PresidentAnthony Etnyre Apr 27, 2021 to Apr 27, 202115
- PresidentSean Hunkler Oct 1, 2021 to Apr 17, 202316
- Chief financial officerCathy Behnen Nov 17, 2023 to now17
- Chief financial officerRobert Phelps Morris Apr 7, 2022 to Sep 18, 202318
- Chief operating officerSasan Aminpour Mar 1, 2023 to now19
Board members and other officers (22)
- EVP, Global Sales and MktngAli Mortazavi Apr 27, 2021 to Mar 10, 202220
- Chief Accounting OfficerCathy Behnen Apr 27, 2021 to Jun 8, 202321
- Chief Operations OfficerDeepak Navnith Apr 27, 2021 to Apr 27, 202122
- Vice President, Supply ChainJay Grover Apr 27, 2021 to May 4, 202123
- VP, Marketing and StrategyKristian Nolde Apr 27, 2021 to Sep 12, 202324
- Chief Technology OfficerNagendra Cherukupalli Apr 27, 2021 to Jun 8, 202325
- Board memberDarrell B. Jackson May 6, 2025 to now26
- Board memberMaximillian Sultan May 8, 2025 to now27
- Board memberAntonio R. Alvarez Aug 7, 2025 to now28
- Board memberAnthony Carroll Dec 17, 2025 to now29
- Board memberPablo Barahona Aug 19, 2024 to now30
- Board memberYann Brandt Dec 9, 2024 to now31
- Board memberTamara Mullings Jan 26, 2023 to Mar 22, 202432
- Board memberAhmad R. Chatila Apr 27, 2021 to now33
- Board memberAnthony Etnyre Apr 27, 2021 to Apr 27, 202115
- Board memberChandrasekhar Sadasivam Apr 27, 2021 to now34
- Board memberCortes Isidoro Alfonso Quiroga Apr 27, 2021 to Jun 10, 202435
- Board memberDavid Springer Apr 27, 2021 to now36
- Board memberLisan Hung Apr 27, 2021 to now37
- Board memberThurman J. Rodgers Apr 27, 2021 to Apr 3, 202338
- Board memberWilliam A. Priddy Apr 27, 2021 to now39
- Board memberSean Hunkler Oct 1, 2021 to Apr 17, 202316
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorShaker Sadasivam named Dec 9, 202440
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Alpha Steel LLC Delaware, United States4
- FTC Capital, LLC Delaware, United States4
- FTC Solar (China) Co., Ltd. China4
- FTC Solar Australia Pty Ltd. Australia4
- FTC Solar India Private Ltd. India4
- FTC Solar South Africa (PTY) Ltd. South Africa4
- FTC Solar Spain, S.L. Spain4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Oct 9, 20268-K Director nominations; Other events41
- Oct 5, 20268-K Entered a material agreement; Regulation FD disclosure42
- Aug 5, 20268-K Entered a material agreement; Results of operations; Debt or obligation accelerated43
- May 6, 2026New chief executive Anthony Carroll becomes CEO13
- May 5, 20268-K Results of operations; Executive or director change44
- Mar 24, 20268-K Entered a material agreement; Debt or obligation accelerated45
- Mar 5, 20268-K Results of operations46
- Dec 15, 20258-K Executive or director change47
- Nov 12, 20258-K Results of operations48
- Sep 4, 20258-K Executive or director change; Shareholder vote49
- Aug 5, 20258-K Results of operations; Executive or director change50
- Jul 7, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares51
- Jun 11, 20258-K Shareholder vote52
- Aug 19, 2024New chief executive Yann Brandt becomes CEO14
- Oct 1, 2021New chief executive Sean Hunkler becomes CEO16
- Apr 27, 2021New chief executive Anthony Etnyre becomes CEO15
- Jan 3, 2017Founded FTC Solar, Inc. is founded2
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.44) a share, on Nov 12, 2025.53
When it reported results
- Aug 5, 2026Reported quarterly or annual results43
- May 5, 2026Reported quarterly or annual results44
- Mar 5, 2026Reported quarterly or annual results46
- Nov 12, 2025Reported quarterly or annual results48
- Aug 5, 2025Reported quarterly or annual results50
- May 1, 2025Reported quarterly or annual results54
- Mar 31, 2025Reported quarterly or annual results55
- Nov 12, 2024Reported quarterly or annual results56
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
472 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 55 major events, 296 insider forms, 11 large holders, 1 private raises, 87 other. The latest 20:
- Oct 9, 20268-K EDGAR
- Oct 8, 2026PRE 14A EDGAR
- Oct 5, 20268-K CURRENT REPORT EDGAR
- Sep 1, 20264 EDGAR
- Aug 31, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 26, 20264 EDGAR
- Aug 18, 2026EFFECT EDGAR
- Aug 18, 2026424B3 PROSPECTUS EDGAR
- Aug 11, 2026S-8 REGISTRATION STATEMENT EDGAR
- Aug 11, 2026S-1 REGISTRATION STATEMENT EDGAR
- Aug 5, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 1, 2026144 EDGAR
- Jun 24, 2026144 EDGAR
- Jun 15, 202610-K/A AMENDMENT NO. 2 TO FORM 10-K EDGAR
- May 29, 2026SD EDGAR
- May 12, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
The 472 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
299 open-market trades by officers, directors and large owners since October 2021: 61 buys and 238 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 28, 2026 | SADASIVAM SHAKERDirector | Buy | 101,083 | $2.69 | $271.9K | Form 4 |
| Aug 27, 2026 | SADASIVAM SHAKERDirector | Buy | 39,583 | $2.35 | $93.0K | Form 4 |
| Aug 26, 2026 | SADASIVAM SHAKERDirector | Buy | 33,290 | $2.19 | $72.9K | Form 4 |
| Aug 25, 2026 | Carroll AnthonyChief Executive Officer | Buy | 24,745 | $2.08 | $51.5K | Form 4 |
| May 7, 2026 | ALVAREZ ANTONIO RDirector | Buy | 2,500 | $4.23 | $10.6K | Form 4 |
| May 6, 2026 | ALVAREZ ANTONIO RDirector | Buy | 2,500 | $3.98 | $9.9K | Form 4 |
| May 6, 2026 | Carroll AnthonyChief Executive Officer | Buy | 7,250 | $3.43 | $24.9K | Form 4 |
| May 6, 2026 | SADASIVAM SHAKERDirector | Buy | 27,025 | $3.70 | $100.0K | Form 4 |
| Dec 30, 2025 | Behnen CathyCHIEF FINANCIAL OFFICER | Sale | 1,646 | $10.93 | $18.0K | Form 4 |
| Dec 30, 2025 | Aminpour SasanChief Operating Officer | Sale | 3,239 | $10.93 | $35.4K | Form 4 |
| Dec 30, 2025 | Brandt YannChief Executive Officer | Sale | 37,775 | $10.84 | $409.4K | Form 4 |
| Dec 16, 2025 | Carroll AnthonyChief Executive Officer | Buy | 10,638 | $9.53 | $101.4K | Form 4 |
| Nov 18, 2025 | Springer DavidDirector | Sale | 100,000 | $8.98 | $898.0K | Form 4 |
| Apr 2, 2025 | Chatila Ahmad RDirector | Buy | 16,740 | $2.93 | $49.0K | Form 4 |
| Apr 2, 2025 | Chatila Ahmad RDirector | Buy | 16,740 | $2.93 | $49.0K | Form 4 |
| Apr 1, 2025 | Chatila Ahmad RDirector | Buy | 16,922 | $2.91 | $49.2K | Form 4 |
| Apr 1, 2025 | Chatila Ahmad RDirector | Buy | 16,922 | $2.91 | $49.2K | Form 4 |
| Apr 1, 2025 | Behnen CathyCHIEF FINANCIAL OFFICER | Sale | 2,640 | $2.63 | $6.9K | Form 4 |
| Dec 13, 2024 | Brandt YannChief Executive Officer | Buy | 31,450 | $3.12 | $98.1K | Form 4 |
| Dec 6, 2024 | Brandt YannChief Executive Officer | Buy | 10,250 | $2.98 | $30.6K | Form 4 |
All 299 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- David SpringerSCHEDULE 13G/A, 5 filings Feb 14, 2022 to Feb 13, 202657
- ARC Family TrustSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Feb 14, 202558
- South Lake One LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 1, 202359
Money raised
Private offerings the company reported to the SEC on Form D.
- Dec 4, 2024Raised $15 million in a private offering of debt Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 34. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 449,372 | $2.3M | 0.0% | +4,293 |
| Gilder Gagnon Howe & Co LLC | 250,785 | $1.3M | 0.0% | New |
| Geode Capital Management, LLC | 121,238 | $616.3K | 0.0% | −1,861 |
| BlackRock, Inc. | 114,347 | $580.9K | 0.0% | +12,299 |
| Vanguard Fiduciary Trust Co | 71,394 | $362.7K | 0.0% | +11,991 |
| Cerity Partners LLC | 49,031 | $249.1K | 0.0% | No change |
| Marshall Wace, Llp | 48,281 | $245.3K | 0.0% | −55,327 |
| State Street Corp | 45,471 | $231.0K | 0.0% | No change |
| Morgan Stanley | 41,460 | $210.6K | 0.0% | +25,675 |
| Bridgeway Capital Management, LLC | 29,034 | $147.5K | 0.0% | −10,000 |
| Squarepoint Ops LLC | 28,013 | $142.3K | 0.0% | −66,018 |
| Northern Trust Corp | 26,575 | $135.0K | 0.0% | +7,340 |
| UBS Group AG | 24,605 | $125.0K | 0.0% | +982 |
| XTX Topco Ltd | 19,763 | $100.4K | 0.0% | New |
| Citadel Advisors LLC | 16,959 | $86.2K | 0.0% | New |
| Laurel Oak Wealth Management, LLC | 16,000 | $81.3K | 0.0% | No change |
| Goldman Sachs Group Inc | 14,131 | $71.8K | 0.0% | −19,232 |
| Vanguard Global Advisers, LLC | 5,854 | $29.7K | 0.0% | No change |
| Richardson Capital Management LLC | 1,016 | $5.2K | 0.0% | No change |
| Wells Fargo & Company/mn | 597 | $3.0K | 0.0% | No change |
| Barclays PLC | 242 | $1.2K | 0.0% | +241 |
| Bnp Paribas Financial Markets | 219 | $1.1K | 0.0% | No change |
| Bogart Wealth, LLC | 216 | $1.1K | 0.0% | New |
| Group One Trading LLC | 200 | $1.0K | 0.0% | +100 |
| Fortitude Family Office, LLC | 112 | $569 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How FTC Solar, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFTC Solar, Inc.1
- CIK0001828161
- Employer ID (EIN)81-481627012
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company12
- Incorporated inDelaware12
- Fiscal year endsDecember 311
- Industry code (SIC)3674 Semiconductors & Related Devices1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address10900 Stonelake Blvd., Suite 100 Quarry Oaks Ii Building, Austin, TX1
- Phone(907) 312-07171
- Shares outstanding16,461,251 as of Jul 31, 202611
- Public float$38.1M as of Jun 30, 202512
- AuditorBDO USA, P.C., Austin, Texas PCAOB ID 243; no auditor attestation of internal control over financial reporting12
- On EDGAR sinceJan 22, 20211
- Filings536 in all: 4 (298), 8-K (62), 3 (27), 144 (26), 10-Q (17), CORRESP (10), S-8 (8), 424B3 (7)1
All 36 form types
DEF 14A (6), DEFA14A (6), EFFECT (6), UPLOAD (6), 10-K (5), 4/A (5), SC 13G (5), 424B5 (4), ARS (3), PRE 14A (3), S-1 (3), S-1/A (3), S-3 (3), SC 13G/A (3), SCHEDULE 13G/A (3), SD (3), 10-K/A (2), DRSLTR (2), 3/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DEFR14A (1), DRS (1), DRS/A (1), S-1MEF (1), S-3/A (1)
- Latest filingsAnnual report (10-K) Mar 24, 2026
Quarterly report (10-Q) Aug 5, 2026
Proxy statement (DEF 14A) Jul 25, 2025
Latest 8-K (8-K) Oct 9, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0001 par value | FTCI | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).12
Risk factors and legal proceedings
The risks FTC Solar, Inc. names in Item 1A of its 10-K filed Mar 24, 2026: 45 risks under these headings, as written.12
- Risks Related to Our Business and Our Industry
- We have a history of losses that may continue in the future and have determined there is substantial doubt about our ability to continue as a going concern; the demand for our products and related revenue depends on many factors beyond our control; we may not achieve profitability or generate positive cash flow; and we may not be able to obtain additional debt or equity financing on terms favorable to us.
- Our dependence on a limited number of customers, the payment terms we agree to with such customers and the expected timing of customer project development activity may impair our ability to operate profitably.
- We may invest in or acquire other companies or technologies, which could divert our management’s attention, result in dilution to our stockholders, reduce our available cash that could be used for other purposes and otherwise disrupt our operations and harm our results of operations.
- The market for our products and services is highly competitive and rapidly evolving, and we expect to face increased competition.
- Defects or quality or performance problems in our products could result in loss of customers, reputational damage and decreased revenue, and we may face warranty, indemnity and product liability claims arising from defective products.
- We invest significant time, resources and management attention to identifying and developing project leads that are subject to our sales and marketing focus, and if we are unsuccessful in converting such project leads (or awarded orders) into binding purchase orders, our business, financial condition or results of operations could be materially adversely affected.
- Due to the seasonality of construction in the United States, our results of operations may fluctuate significantly from quarter to quarter, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations, resulting in a decline in the price of our common stock.
- Our success in providing panel agnostic versions of our solar tracker systems will depend in part upon our ability to continue to work closely with leading solar panel manufacturers.
- We plan to continue expanding into additional international markets, which will expose us to additional regulatory, economic, political, reputational and competitive risks.
- If we fail to retain key personnel or if we fail to attract additional qualified personnel, we may not be able to achieve our anticipated level of growth, and our business could suffer.
- We may not have sufficient insurance coverage to cover business continuity and cybersecurity incidents.
The other 34 risks
- Risks Related to Our Capital Strategy, Our Credit Agreement and Ownership of Our Common Stock
- A substantial number of shares of our common stock are issuable under the New Warrants and, if the New Warrants are exercised, they will have a dilutive impact, which could cause the price of our common stock to decline.
- We do not intend to apply for any listing of the New Warrants on any exchange or nationally recognized trading system, and we do not expect a market to develop for the unregistered New Warrants.
- Certain provisions of the New Warrants could discourage an acquisition of us by a third party.
- There may be future issuances of new shares of our common stock under our ATM program or other dilution of our equity, which may adversely affect the market price of our common stock.
- Our stock price has been volatile and may continue to be volatile or may decline regardless of our operating performance, and you may not be able to resell your shares of common stock at or above the price you paid.
- The price of our common stock could decline if securities analysts do not publish research or if securities analysts or other third parties publish inaccurate or unfavorable research about us.
- An active, liquid trading market for our common stock may not be sustained.
- We do not intend to pay dividends on our common stock for the foreseeable future.
- Our directors, executive officers, principal stockholders and holders of our New Warrants will continue to have significant influence over our company, which could limit your ability to influence the outcome of key transactions, including a change of control.
- Anti-takeover provisions in our governing documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management and depress the market price of our common stock.
- Our governing documents also provide that the Delaware Court of Chancery will be the sole and exclusive forum for substantially all disputes between us and our stockholders and federal district courts will be the sole and exclusive forum for Securities Act claims, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- We are an “emerging growth company” as defined in the JOBS Act and a "smaller reporting company", based on regulations promulgated by the U.S. Securities and Exchange Commission, and have taken advantage of certain of the reduced disclosure requirements applicable to both which may make our common stock less attractive to investors.
- If we experience material weaknesses or otherwise fail to maintain effective internal controls over financial reporting in the future, our ability to timely and accurately report our financial condition and results of operations or comply with applicable laws and regulations could be impaired, which may adversely affect investor confidence in us and, as a result, the market price of our common stock.
- Risks Related to Government Regulations and Legal Compliance
- The reduction, elimination or expiration of government incentives for, or regulations mandating the use of, as well as corporate commitments to the use of, renewable energy and solar energy specifically could reduce demand for solar energy systems and harm our business.
- Changes in the U.S. trade environment, including the imposition of import tariffs, could adversely affect the amount or timing of our revenue, results of operations or cash flows.
- The concentration of our sales in a limited number of specific markets increases risks associated with the reduction, elimination or expiration of governmental subsidies and economic incentives for solar energy products.
- Actions addressing determinations of forced labor practices in China and legislation and policies adopted to address such practices may disrupt the global supply of solar panels and affect our business.
- Existing electric utility industry policies and regulations, and any subsequent changes, may present technical, regulatory and economic barriers to the purchase and use of solar energy systems that may significantly reduce demand for our products and services or harm our ability to compete.
- Changes in tax laws or regulations that are applied adversely to us, or our customers, could materially adversely affect our business, prospects, financial condition and results of operations.
- We could be adversely affected by any violations of the FCPA and other foreign anti-bribery laws, as well as of export controls and economic sanctions laws.
- Risks Related to Manufacturing and Our Supply Chain
- We depend upon a limited number of outside contract manufacturers, and our operations could be disrupted if our relationships with these contract manufacturers are compromised.
- We may experience delays, disruptions or quality control problems in our contract manufacturers’ manufacturing operations, which could result in reputational damage and other liabilities to our customers.
- We depend on a limited number of contract manufacturers for key components of our products to adequately meet anticipated demand. Due to the limited number of such contract manufacturers, any cessation of operations or production or any shortage, delay, price change, imposition of tariffs or duties or other limitation on our ability to obtain the components we use could result in sales delays, cancellations and loss of market share.
- The interruption of the flow of components from international contract manufacturers could disrupt our supply chain, including as a result of the imposition of additional laws, duties, tariffs and other charges on imports and exports.
- Failure by our contract manufacturers to use ethical business practices and comply with applicable laws and regulations may adversely affect our business.
- We and our contract manufacturers are dependent on domestic and international transportation and logistics markets to deliver our products. If we or our contract manufacturers experience disruptions, unavailability or escalated pricing in the transportation and logistics markets, which include trucking, vessels, ports and related infrastructure and logistics, our business, results of operations and financial condition could be materially and adversely impacted.
- Risks Related to Intellectual Property
- If we fail, in whole or in part, to obtain, maintain, protect, defend or enforce our intellectual property and other proprietary rights, our business and results of operations could be materially harmed.
- We may need to defend ourselves against third-party claims that we are infringing, misappropriating or otherwise violating third-party intellectual property rights, which could divert management’s attention, cause us to incur significant costs and prevent us from selling or using the products, services or technologies to which such rights relate.
- We use “open-source” software, and any failure to comply with the terms of one or more open-source licenses could negatively affect our business.
- Risks Related to Information Technology and Data Privacy
- A significant cybersecurity incident or other disruption to our technology infrastructure could disrupt our business operations and cause financial and reputational damage.
- Unauthorized disclosure of personal or sensitive data or confidential information, whether through our use of artificial intelligence ("AI"), a breach of our computer or information technology systems or otherwise, could severely hurt our business.
- Failure to comply with current or future federal, state, local and foreign laws and regulations and industry standards relating to privacy, data protection and consumer protection, or the expansion of current or the enactment of new laws or regulations relating to privacy, data protection and consumer protection, as well as our actual or perceived failure to comply with such laws and regulations could adversely affect our business, prospects, financial condition and results of operations.
- Risks Related to Climate Change and Health Epidemics
- We face risks related to extreme weather events caused by climate change and actual or threatened health epidemics, which could significantly disrupt our operations.
Legal proceedings
We may become involved in various claims, lawsuits, investigations, and other proceedings arising in the normal course of business.
United States Custom and Border Protection assessment
In March of 2023, United States Customs and Border Protection ("CBP") issued notices of tariff assessment that indicated an action taken at the Import Specialist (i.e., the port) level with respect to merchandise imported from Thailand under entry number 004-1058562-5 (the “625 Assessment”) and entry number 004-1063793-9 (the “Original 939 Assessment”, and collectively with the 625 Assessment, the “Original CBP Assessments”). The Original CBP Assessments related to certain torque beams that are used in our Voyager+ product that were imported in 2022. In the Original CBP Assessments, CBP asserted that Section 301 China tariffs, Section 232 steel and aluminum tariffs, and antidumping and countervailing duties applied to the merchandise. Based on correspondence received to date from CBP, including a recent partial acceptance by CBP of our protest on the 625 Assessment as described below, and our calculations based on applicable duty and tariff rates, the 625 Assessment is currently estimated at approximately $0.07 million. In September of 2023, CBP informed us that the amount owed under the Original 939 Assessment was being revised downward to approximately $2.01 million (the "Revised 939 Assessment", and together with the 625 Assessment, the "Revised CBP Assessments"). In particular, CBP accepted our position that the Section 301 tariffs of 25% or 7.5% of the value of the merchandise, depending on tariff classification, as well as the antidumping and countervailing duties, previously assessed under the Original 939 Assessment are not applicable as they are only applicable to articles that are products of China and that, in this case, the finished goods are products of Thailand.
The opening of Item 3, Legal Proceedings.12
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARFTC Solar, Inc. filings on SEC EDGAR
- 2
- 3SEC EDGARFTC Solar, Inc. filings on SEC EDGAR
- 4
- 5SEC EDGARFTC Solar, Inc. 10-K for fiscal 2025
- 6SEC EDGARFTC Solar, Inc. 10-K for fiscal 2019
- 7SEC EDGARFTC Solar, Inc. 10-K for fiscal 2020
- 8SEC EDGARFTC Solar, Inc. 10-K for fiscal 2021
- 9SEC EDGARFTC Solar, Inc. 10-K for fiscal 2023
- 10SEC EDGARFTC Solar, Inc. 10-Q for fiscal 2026
- 11SEC EDGARFTC Solar, Inc. 10-Q for fiscal 2026
- 12
- 13
- 14SEC EDGARYann Brandt, Chief executive officer
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26SEC EDGARDarrell B. Jackson, Board member
- 27SEC EDGARMaximillian Sultan, Board member
- 28SEC EDGARAntonio R. Alvarez, Board member
- 29SEC EDGARAnthony Carroll, Board member
- 30SEC EDGARPablo Barahona, Board member
- 31SEC EDGARYann Brandt, Board member
- 32SEC EDGARTamara Mullings, Board member
- 33SEC EDGARAhmad R. Chatila, Board member
- 34
- 35
- 36SEC EDGARDavid Springer, Board member
- 37SEC EDGARLisan Hung, Board member
- 38SEC EDGARThurman J. Rodgers, Board member
- 39SEC EDGARWilliam A. Priddy, Board member
- 40
- 41SEC EDGARDirector nominations; Other events
- 42
- 43
- 44
- 45
- 46SEC EDGARResults of operations
- 47SEC EDGARExecutive or director change
- 48SEC EDGARResults of operations
- 49
- 50
- 51
- 52SEC EDGARShareholder vote
- 53NasdaqNasdaq calendar
- 54
- 55
- 56
- 57
- 58
- 59