FTCI on Nasdaq

FTC Solar, Inc.

American semiconductors and related devices company based in Austin. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • 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

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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 margin4
-35.5%Operating margin4
-79.8%Net margin4
110.5%Revenue growth, 20254
-$34.6MFree cash flow4

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.

  1. Product$80.3M481%up 114% from 2024
  2. Service$19.4M419%up 97% from 2024
Products and services by year
Products and services20242025
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.

  1. United States$98.2M499%up 132% from 2024
  2. AUMember$1.4M41%down 67% from 2024
Regions by year
Regions20242025
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.4 The company lost money this year.

Financial statements

Revenue56784$99.7M in 2025+88% since 2019
0$100.0M$200.0M$300.0M2019: $53.1M$53.1M20192020: $187.4M$187.4M2020+253%2021: $270.5M$270.5M2021+44%2022: $123.1M$123.1M2022−55%2023: $127.0M$127.0M2023+3%2024: $47.4M$47.4M2024−63%2025: $99.7M$99.7M2025+111%
Gross profit56784-$880.0K in 2025−55% since 2019
-$40.0M-$20.0M0$20.0M2019: -$2.0M-$2.0M20192020: $3.6M$3.6M20202021: -$32.5M-$32.5M20212022: -$27.2M-$27.2M2022−16%2023: $8.3M$8.3M20232024: -$12.6M-$12.6M20242025: -$880.0K-$880.0K2025−93%
Operating income56784-$35.4M in 2025+186% since 2019
-$150.0M-$100.0M-$50.0M02019: -$12.4M-$12.4M20192020: -$16.9M-$16.9M2020+37%2021: -$126.8M-$126.8M2021+649%2022: -$99.6M-$99.6M2022−21%2023: -$50.8M-$50.8M2023−49%2024: -$52.8M-$52.8M2024+4%2025: -$35.4M-$35.4M2025−33%
Net income56784-$79.6M in 2025+490% since 2019
-$150.0M-$100.0M-$50.0M02019: -$13.5M-$13.5M20192020: -$15.9M-$15.9M2020+18%2021: -$106.6M-$106.6M2021+569%2022: -$99.6M-$99.6M2022−7%2023: -$50.3M-$50.3M2023−50%2024: -$48.6M-$48.6M2024−3%2025: -$79.6M-$79.6M2025+64%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
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 outstanding14.0M shares12.7M shares
Diluted weighted-average number of common shares outstanding14.0M shares12.7M shares

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Leadership

Who has led FTC Solar, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Anthony Etnyre2021
  2. Sean Hunkler2021–2023
  3. Yann Brandt2024–2026
  4. Anthony Carroll2026–now

President

  1. Anthony Etnyre2021
  2. Sean Hunkler2021–2023

Chief financial officer

  1. Robert Phelps Morris2022–2023
  2. Cathy Behnen2023–now

Chief operating officer

  1. Sasan Aminpour2023–now
2025
Board members and other officers (22)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorShaker Sadasivam named Dec 9, 202438

Timeline

  1. May 6, 2026New chief executive Anthony Carroll becomes CEO11
  2. Aug 19, 2024New chief executive Yann Brandt becomes CEO12
  3. Oct 1, 2021New chief executive Sean Hunkler becomes CEO14
  4. Apr 27, 2021New chief executive Anthony Etnyre becomes CEO13
  5. Jan 3, 2017Founded FTC Solar, Inc. is founded2

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:

  1. Oct 9, 20268-K EDGAR
  2. Oct 8, 2026PRE 14A EDGAR
  3. Oct 5, 20268-K CURRENT REPORT EDGAR
  4. Sep 1, 20264 EDGAR
  5. Aug 31, 20264 EDGAR
  6. Aug 28, 20264 EDGAR
  7. Aug 26, 20264 EDGAR
  8. Aug 18, 2026EFFECT EDGAR
  9. Aug 18, 2026424B3 PROSPECTUS EDGAR
  10. Aug 11, 2026S-8 REGISTRATION STATEMENT EDGAR
  11. Aug 11, 2026S-1 REGISTRATION STATEMENT EDGAR
  12. Aug 5, 202610-Q EDGAR
  13. Aug 5, 20268-K EDGAR
  14. Jul 1, 2026144 EDGAR
  15. Jun 24, 2026144 EDGAR
  16. Jun 15, 202610-K/A AMENDMENT NO. 2 TO FORM 10-K EDGAR
  17. May 29, 2026SD EDGAR
  18. May 12, 20264 EDGAR
  19. May 7, 20264 EDGAR
  20. 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.

DateWhoTradeSharesPriceValueFiling
Aug 28, 2026SADASIVAM SHAKERDirectorBuy101,083$2.69$271.9KForm 4
Aug 27, 2026SADASIVAM SHAKERDirectorBuy39,583$2.35$93.0KForm 4
Aug 26, 2026SADASIVAM SHAKERDirectorBuy33,290$2.19$72.9KForm 4
Aug 25, 2026Carroll AnthonyChief Executive OfficerBuy24,745$2.08$51.5KForm 4
May 7, 2026ALVAREZ ANTONIO RDirectorBuy2,500$4.23$10.6KForm 4
May 6, 2026ALVAREZ ANTONIO RDirectorBuy2,500$3.98$9.9KForm 4
May 6, 2026Carroll AnthonyChief Executive OfficerBuy7,250$3.43$24.9KForm 4
May 6, 2026SADASIVAM SHAKERDirectorBuy27,025$3.70$100.0KForm 4
Dec 30, 2025Behnen CathyCHIEF FINANCIAL OFFICERSale1,646$10.93$18.0KForm 4
Dec 30, 2025Aminpour SasanChief Operating OfficerSale3,239$10.93$35.4KForm 4
Dec 30, 2025Brandt YannChief Executive OfficerSale37,775$10.84$409.4KForm 4
Dec 16, 2025Carroll AnthonyChief Executive OfficerBuy10,638$9.53$101.4KForm 4
Nov 18, 2025Springer DavidDirectorSale100,000$8.98$898.0KForm 4
Apr 2, 2025Chatila Ahmad RDirectorBuy16,740$2.93$49.0KForm 4
Apr 2, 2025Chatila Ahmad RDirectorBuy16,740$2.93$49.0KForm 4
Apr 1, 2025Chatila Ahmad RDirectorBuy16,922$2.91$49.2KForm 4
Apr 1, 2025Chatila Ahmad RDirectorBuy16,922$2.91$49.2KForm 4
Apr 1, 2025Behnen CathyCHIEF FINANCIAL OFFICERSale2,640$2.63$6.9KForm 4
Dec 13, 2024Brandt YannChief Executive OfficerBuy31,450$3.12$98.1KForm 4
Dec 6, 2024Brandt YannChief Executive OfficerBuy10,250$2.98$30.6KForm 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.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. 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.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC449,372$2.3M0.0%+4,293
Gilder Gagnon Howe & Co LLC250,785$1.3M0.0%New
Geode Capital Management, LLC121,238$616.3K0.0%−1,861
BlackRock, Inc.114,347$580.9K0.0%+12,299
Vanguard Fiduciary Trust Co71,394$362.7K0.0%+11,991
Cerity Partners LLC49,031$249.1K0.0%No change
Marshall Wace, Llp48,281$245.3K0.0%−55,327
State Street Corp45,471$231.0K0.0%No change
Morgan Stanley41,460$210.6K0.0%+25,675
Bridgeway Capital Management, LLC29,034$147.5K0.0%−10,000
Squarepoint Ops LLC28,013$142.3K0.0%−66,018
Northern Trust Corp26,575$135.0K0.0%+7,340
UBS Group AG24,605$125.0K0.0%+982
XTX Topco Ltd19,763$100.4K0.0%New
Citadel Advisors LLC16,959$86.2K0.0%New
Laurel Oak Wealth Management, LLC16,000$81.3K0.0%No change
Goldman Sachs Group Inc14,131$71.8K0.0%−19,232
Vanguard Global Advisers, LLC5,854$29.7K0.0%No change
Richardson Capital Management LLC1,016$5.2K0.0%No change
Wells Fargo & Company/mn597$3.0K0.0%No change
Barclays PLC242$1.2K0.0%+241
Bnp Paribas Financial Markets219$1.1K0.0%No change
Bogart Wealth, LLC216$1.1K0.0%New
Group One Trading LLC200$1.0K0.0%+100
Fortitude Family Office, LLC112$5690.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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