FTC Solar Inc
NASDAQ:FTCI
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 223 full-time employees. The company went IPO on 2021-04-28. The firm operates through the manufacturing and servicing of the Voyager Tracker segment. Its tracker systems markets under the brand name Voyager. Voyager is a two-panel in-portrait single-axis tracker solution that offers performance and ease of installation. The Company’s solar solutions span a range of applications, including ground mount, tracker, canopy and rooftop. The company is focused on the sale of Voyager Tracker and customized components of Voyager Tracker, individual parts of Voyager Tracker for certain specific transactions, shipping and handling services, term-based software licenses, maintenance and support services for the term-based software licenses, and subscription services. The Company’s customers include project developers, solar asset owners, and engineering, procurement and construction (EPC) contractors that design and build solar energy projects.
FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services. The company is headquartered in Austin, Texas and currently employs 223 full-time employees. The company went IPO on 2021-04-28. The firm operates through the manufacturing and servicing of the Voyager Tracker segment. Its tracker systems markets under the brand name Voyager. Voyager is a two-panel in-portrait single-axis tracker solution that offers performance and ease of installation. The Company’s solar solutions span a range of applications, including ground mount, tracker, canopy and rooftop. The company is focused on the sale of Voyager Tracker and customized components of Voyager Tracker, individual parts of Voyager Tracker for certain specific transactions, shipping and handling services, term-based software licenses, maintenance and support services for the term-based software licenses, and subscription services. The Company’s customers include project developers, solar asset owners, and engineering, procurement and construction (EPC) contractors that design and build solar energy projects.
Revenue Growth: Q3 revenue reached $26 million, up 157% year-over-year and above guidance, marking the highest level in 8 quarters.
Profit Improvement: Company returned to positive gross margin for the first time since late 2023, with gross profit of $1.6 million (6.1% margin).
Adjusted EBITDA: Adjusted EBITDA loss improved to $4 million, the best result since Q3 2020 and a significant improvement from prior quarters.
Guidance Raised: Q4 revenue guidance set at $30–$35 million, with gross margins expected to reach new highs.
Strategic Acquisition: FTC Solar acquired full ownership of Alpha Steel, expected to enhance margins and provide better control over domestic content.
Market Traction: Over 7.5 GW in master supply agreements (MSAs) now signed; pipeline and customer base expanding both in the U.S. and internationally.
2026 Outlook: Management expects to be adjusted EBITDA positive for full-year 2026.
