A Business at a Glance
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SUMMARY OF RISK FACTORS We are subject to a number of risks that in some cases have and moving forward if realized could further adversely affect our business, strategies, prospects, financial condition, results of operations and cash flows. Some of the more significant risks and uncertainties we face include those summarized below. The summary below is not exhaustive and is qualified by reference to the full set of risk factors set forth in Item 1A. Risk Factors below. Please carefully consider all of the information in this Annual Report, including the full set of risks set forth in the "Risk Factors" section below, and in our other filings with the SEC before making an investment decision regarding us.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 114M | 47M | 127M | 123M | 271M | 187M |
| Net Income | -92M | -49M | -50M | -100M | -107M | -16M |
| EPS | $-7.00 | $-3.83 | $-4.35 | $-9.80 | $-12.40 | $-2.30 |
| Free Cash Flow | -63M | -36M | -53M | -55M | -134M | 373K |
| ROIC | -58.5% | -241.9% | -80.5% | -118.4% | -74.6% | -18.7% |
| Gross Margin | -16.1% | -26.6% | 6.5% | -22.1% | -12.0% | 1.9% |
| Debt/Equity | 0.00 | 0.50 | 0.00 | 1.02 | 0.70 | 0.24 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -83M | -53M | -51M | -100M | -127M | -17M |
| Operating Margin | -72.3% | -111.6% | -40.0% | -80.9% | -46.9% | -9.0% |
| ROE | 0.0% | -119.3% | -80.5% | -149.9% | -74.6% | -213.7% |
| Shares Outstanding | 15M | 13M | 12M | 10M | 9M | 7M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 187M | 271M | 123M | 127M | 47M | 114M |
| Gross Margin | 1.9% | -12.0% | -22.1% | 6.5% | -26.6% | -16.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -17M | -127M | -100M | -51M | -53M | -83M |
| Op. Margin | -9.0% | -46.9% | -80.9% | -40.0% | -111.6% | -72.3% |
| Net Income | -16M | -107M | -100M | -50M | -49M | -92M |
| Net Margin | -8.5% | -39.4% | -80.9% | -39.6% | -102.6% | -80.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -18.7% | -74.6% | -118.4% | -80.5% | N/M | -58.5% |
| ROE | -213.7% | -74.6% | -149.9% | -80.5% | -119.3% | 0.0% |
| ROA | -22.3% | -43.9% | -74.1% | -40.9% | -45.6% | -82.3% |
| Cash Flow | ||||||
| Op. Cash Flow | 629K | -133M | -55M | -53M | -35M | -60M |
| Free Cash Flow | 373K | -134M | -55M | -53M | -36M | -63M |
| Owner Earnings | -1.2M | -195M | -76M | -62M | -42M | -67M |
| CapEx | 256K | 1.0M | 985K | 816K | 1.6M | 2.4M |
| Maint. CapEx | 47K | 232K | 900K | 1.4M | 1.7M | 1.7M |
| Growth CapEx | 209K | 793K | 85K | 0 | 0 | 767K |
| D&A | 47K | 232K | 900K | 1.4M | 1.7M | 1.7M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 54M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 8.6% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.8M | 62M | 20M | 8.3M | 5.4M | 5.4M |
| Debt Repayment | 7.0M | 1.0M | 0 | 0 | 15M | 15M |
| Balance Sheet | ||||||
| Net Debt | -31M | N/A | N/A | -25M | -1.8M | -7.7M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 24M |
| Long-Term Debt | 784K | N/A | N/A | 0 | 9.5M | 9.5M |
| Debt/Equity | 0.24 | 0.70 | 1.02 | 0.00 | 0.50 | 0.00 |
| Interest Coverage | -145.9 | -160.5 | N/A | N/A | N/A | N/A |
| Equity | 7.5M | 143M | 66M | 62M | 19M | -14M |
| Total Assets | 71M | 243M | 134M | 123M | 90M | 112M |
| Total Liabilities | 64M | 100M | 68M | 61M | 71M | 125M |
| Intangibles | N/A | 0 | 8.7M | 7.9M | 7.1M | 7.1M |
| Retained Earnings | -43M | -149M | -249M | -299M | -348M | -348M |
| Working Capital | 5.9M | 143M | 58M | 54M | 27M | 27M |
| Current Assets | 66M | 236M | 119M | 109M | 76M | 76M |
| Current Liabilities | 60M | 93M | 60M | 55M | 49M | 49M |
| Per Share Data | ||||||
| EPS | -2.30 | -12.40 | -9.80 | -4.35 | -3.83 | -7.00 |
| Owner EPS | -0.18 | -22.67 | -7.45 | -5.39 | -3.29 | -4.50 |
| Book Value | 1.08 | 16.62 | 6.54 | 5.40 | 1.50 | -0.92 |
| Cash Flow/Share | 0.09 | -15.46 | -5.36 | -4.55 | -2.73 | -6.03 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 6.9M | 8.6M | 10.2M | 11.6M | 12.7M | 14.9M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -0.5 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 4.4 | 3.5 | 1.3 | 3.5 | N/A |
| Price/Sales | N/A | 3.1 | 3.3 | 2.0 | 1.2 | 0.5 |
| FCF Yield | N/A | -21.3% | -23.9% | -64.6% | -54.0% | -118.3% |
| Market Cap | N/A | 629M | 232M | 83M | 67M | 53M |
| Avg. Price | N/A | 97.18 | 39.37 | 21.90 | 4.56 | 3.54 |
| Year-End Price | N/A | 73.20 | 22.80 | 7.16 | 5.30 | 3.54 |
FTC Solar, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
FTC Solar, Inc. (FTCI) has a 5-year average return on invested capital (ROIC) of -73.1%. This is below average and may indicate limited pricing power.
FTC Solar, Inc. (FTCI) has a market capitalization of $53M. It is classified as a small-cap stock.
FTC Solar, Inc. (FTCI) does not currently pay a regular dividend.
FTC Solar, Inc. (FTCI) operates in the Semiconductors & Related Devices industry, within the Technology sector.
FTC Solar, Inc. (FTCI) reported annual revenue of $47 million in its most recent fiscal year, based on SEC EDGAR filings.
FTC Solar, Inc. (FTCI) has a net profit margin of -102.6%. The company is currently unprofitable.
FTC Solar, Inc. (FTCI) generated $-36 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
FTC Solar, Inc. (FTCI) has a debt-to-equity ratio of 0.50. This indicates a conservatively financed balance sheet.
FTC Solar, Inc. (FTCI) reported earnings per share (EPS) of $-3.83 in its most recent fiscal year.
FTC Solar, Inc. (FTCI) has a return on equity (ROE) of -119.3%. A negative ROE may indicate losses or negative equity.
FTC Solar, Inc. (FTCI) has a 5-year average gross margin of -10.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for FTC Solar, Inc. (FTCI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FTC Solar, Inc. (FTCI) has a book value per share of $1.50, based on its most recent annual SEC filing.