FTC Solar Inc
NASDAQ:FTCI
Income Statement
Earnings Waterfall
FTC Solar Inc
Revenue
|
127m
USD
|
Cost of Revenue
|
-118.7m
USD
|
Gross Profit
|
8.3m
USD
|
Operating Expenses
|
-59.1m
USD
|
Operating Income
|
-50.8m
USD
|
Other Expenses
|
487k
USD
|
Net Income
|
-50.3m
USD
|
Income Statement
FTC Solar Inc
Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||
Revenue |
187
N/A
|
221
+18%
|
220
0%
|
213
-3%
|
271
+27%
|
254
-6%
|
235
-8%
|
199
-15%
|
123
-38%
|
114
-7%
|
116
+1%
|
130
+12%
|
127
-2%
|
|
Gross Profit | ||||||||||||||
Cost of Revenue |
(184)
|
(224)
|
(238)
|
(242)
|
(303)
|
(296)
|
(267)
|
(232)
|
(150)
|
(130)
|
(123)
|
(124)
|
(119)
|
|
Gross Profit |
4
N/A
|
(3)
N/A
|
(18)
-459%
|
(29)
-61%
|
(33)
-13%
|
(42)
-29%
|
(32)
+23%
|
(34)
-5%
|
(27)
+20%
|
(16)
+42%
|
(7)
+55%
|
6
N/A
|
8
+46%
|
|
Operating Income | ||||||||||||||
Operating Expenses |
(21)
|
(25)
|
(77)
|
(86)
|
(94)
|
(105)
|
(67)
|
(70)
|
(72)
|
(68)
|
(62)
|
(65)
|
(59)
|
|
Selling, General & Administrative |
(15)
|
(19)
|
(66)
|
(75)
|
(83)
|
(92)
|
(58)
|
(60)
|
(62)
|
(59)
|
(54)
|
(56)
|
(52)
|
|
Research & Development |
(5)
|
(6)
|
(10)
|
(11)
|
(12)
|
(12)
|
(9)
|
(9)
|
(10)
|
(9)
|
(8)
|
(8)
|
(7)
|
|
Operating Income |
(17)
N/A
|
(28)
-66%
|
(95)
-238%
|
(115)
-21%
|
(127)
-11%
|
(147)
-16%
|
(99)
+32%
|
(103)
-4%
|
(100)
+3%
|
(84)
+15%
|
(69)
+18%
|
(59)
+15%
|
(51)
+14%
|
|
Pre-Tax Income | ||||||||||||||
Interest Income Expense |
(0)
|
(0)
|
20
|
20
|
20
|
20
|
(1)
|
1
|
1
|
2
|
2
|
1
|
1
|
|
Non-Reccuring Items |
(0)
|
1
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
|
Pre-Tax Income |
(17)
N/A
|
(27)
-57%
|
(73)
-168%
|
(94)
-28%
|
(106)
-13%
|
(127)
-19%
|
(100)
+21%
|
(103)
-3%
|
(99)
+4%
|
(83)
+16%
|
(68)
+18%
|
(59)
+14%
|
(50)
+15%
|
|
Net Income | ||||||||||||||
Tax Provision |
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(1)
|
0
|
|
Income from Continuing Operations |
(17)
|
(28)
|
(74)
|
(94)
|
(106)
|
(127)
|
(100)
|
(103)
|
(100)
|
(84)
|
(68)
|
(59)
|
(50)
|
|
Equity Earnings Affiliates |
1
|
1
|
1
|
1
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
|
Net Income (Common) |
(16)
N/A
|
(27)
-68%
|
(72)
-170%
|
(92)
-28%
|
(107)
-15%
|
(127)
-19%
|
(100)
+21%
|
(103)
-3%
|
(100)
+3%
|
(84)
+16%
|
(68)
+18%
|
(60)
+13%
|
(50)
+16%
|
|
EPS (Diluted) |
-0.23
N/A
|
-0.31
-35%
|
-0.77
-148%
|
-0.97
-26%
|
-1.24
-28%
|
-1.27
-2%
|
-1
+21%
|
-1
N/A
|
-0.98
+2%
|
-0.78
+20%
|
-0.6
+23%
|
-0.49
+18%
|
-0.44
+10%
|