7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $100M | -$80M | -0.9% | -35.5% | -$35M | $23M | $21M |
| 2024 | $47M | -$49M | -26.6% | -111.6% | -$36M | $9M | $11M |
| 2023 | $127M | -$50M | 6.5% | -40.0% | -$53M | $0 | $25M |
| 2022 | $123M | -$100M | -22.1% | -80.9% | -$55M | — | $44M |
| 2021 | $271M | -$107M | -12.0% | -46.9% | -$134M | $0 | $102M |
| 2020 | $187M | -$16M | 1.9% | -9.0% | $373000 | $2M | $32M |
| 2019 | $53M | -$13M | -3.7% | -23.3% | -$272000 | — | $7M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $17M | $33M | -7.1% | -69.8% | -$13M | $23M | $6M |
| Dec '25 | $33M | -$36M | 14.9% | -17.2% | -$8M | $23M | $21M |
| Sep '25 | $26M | -$24M | 6.1% | -29.6% | -$15M | $17M | $24M |
| Jun '25 | $20M | -$15M | -19.6% | -57.5% | -$2M | $11M | $4M |
| Mar '25 | $21M | -$4M | -16.6% | -50.8% | -$9M | $10M | $6M |
| Dec '24 | $13M | -$12M | -29.1% | -101.7% | -$17M | $9M | $11M |
| Sep '24 | $10M | -$15M | -42.5% | -147.8% | -$3M | — | $8M |
| Jun '24 | $11M | -$12M | -20.5% | -104.3% | -$4M | — | $11M |
| Mar '24 | $13M | -$9M | -16.7% | -99.3% | -$12M | — | $14M |
| Dec '23 | $23M | -$11M | 3.0% | -50.6% | -$7M | $0 | $25M |
| Sep '23 | $31M | -$17M | 11.1% | -53.3% | -$16M | — | $32M |
| Jun '23 | $32M | -$10M | 6.8% | -32.0% | -$23M | — | $34M |
| Mar '23 | $41M | -$12M | 5.0% | -30.3% | -$8M | — | $41M |
| Dec '22 | $26M | -$21M | -7.3% | -75.7% | $103M | — | $44M |
| Sep '22 | $17M | -$26M | -57.4% | -161.1% | -$13M | — | $50M |
| Jun '22 | $31M | -$26M | -21.2% | -82.2% | $17M | — | $66M |
| Mar '22 | $50M | -$28M | -18.7% | -56.1% | -$54M | — | $49M |
| Dec '21 | $102M | -$24M | -8.4% | -23.1% | -$41M | $0 | $102M |
| Sep '21 | $53M | -$23M | -15.2% | -43.0% | -$9M | $0 | $141M |
| Jun '21 | $50M | -$52M | 32.0% | -144.6% | -$59M | $0 | $150M |
How the market has priced FTCI against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, FTC Solar, Inc.'s revenue has declined 11.9% per year. These are computed facts, not advice.
As of FY2025, FTC Solar, Inc. reported $23M of total debt against $21M of cash; operating income covered interest expense -4.3×.
In FY2025, gross margin was -0.9%, operating margin -35.5%, and net margin -79.8%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.