FTC Solar (NASDAQ:FTCI) Issues Quarterly Earnings Results

FTC Solar (NASDAQ:FTCI) released its quarterly earnings data on Wednesday. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05, FiscalAI reports. The business had revenue of $32.81 million during the quarter, compared to the consensus estimate of $32.76 million.

Here are the key takeaways from FTC Solar’s conference call:

• Third-quarter revenue rose 25.4% sequentially to $32.8 million, while non-GAAP gross margin improved to 8.4% from a loss in the prior quarter. Adjusted EBITDA loss narrowed to $5.2 million, better than the company’s target range.
• FTC expects fourth-quarter revenue of $44 million to $52 million and adjusted EBITDA between a $3.9 million loss and break-even; management expects adjusted EBITDA profitability in Q1 2027 and significant revenue growth for 2027.
• The company reported more than $100 million in new awards since its last call and highlighted business across North America, the U.K., Australia, and India, including a 500 MW U.K. MSA and two Indian contracts totaling 239 MW. These awards and pipeline opportunities support its growth plans, though timing of project execution will affect revenue.
• FTC said independent DNV testing found its tracker installation took just over five hours per tracker, which it described as 30%–50% less labor than competing product trials. Management views constructability and automation readiness as differentiators that can help win projects and protect margins.
• Management said full-year 2026 revenue growth will be about 25%, below its earlier 40% target. It also said liquidity improvement will depend partly on better project cash flows and vendor/customer terms, while noting that financing or a capital raise remains among the available options.

FTC Solar Price Performance

NASDAQ FTCI traded up $0.01 during trading hours on Wednesday, reaching $1.47. The company’s stock had a trading volume of 95,147,056 shares, compared to its average volume of 646,561. The company’s 50-day moving average is $2.02 and its two-hundred day moving average is $4.54. FTC Solar has a 1-year low of $1.27 and a 1-year high of $12.75. The firm has a market capitalization of $26.77 million, a price-to-earnings ratio of -0.23 and a beta of 1.75.

Insider Activity

In related news, Director Shaker Sadasivam acquired 101,083 shares of the stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $2.69 per share, with a total value of $271,913.27. Following the completion of the transaction, the director owned 255,464 shares in the company, valued at $687,198.16. This represents a 65.48% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Carroll purchased 24,745 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average price of $2.08 per share, for a total transaction of $51,469.60. Following the purchase, the chief executive officer directly owned 666,200 shares in the company, valued at $1,385,696. The trade was a 3.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 198,701 shares of company stock worth $489,308. Insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FTC Solar in a research note on Monday, September 21st. UBS Group upgraded FTC Solar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $3.50 to $3.60 in a research note on Friday, September 18th. Roth Capital set a $7.00 price objective on FTC Solar and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen cut shares of FTC Solar from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Finally, Zacks Research upgraded shares of FTC Solar to a “hold” rating in a research report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, FTC Solar has an average rating of “Moderate Buy” and an average price target of $8.90.

About FTC Solar

FTC Solar, Inc (NASDAQ: FTCI) provides solar tracker systems, software, and engineering services for utility-scale photovoltaic projects. Its technology is designed to help solar panels follow the sun throughout the day, increasing energy production and supporting more efficient project development and operation.

The company’s offerings include single-axis tracker systems, proprietary tracker-control and optimization software, and related engineering, technical, and installation support.