Energy · Solar
Price
$4.79
Market Cap
$76.7M
Employees
202
Beta
1.80
Avg Volume
159,314
CEO
Yann Brandt
Business Description
FTC Solar, Inc. operates internationally, with a significant presence in the United States and Vietnam, specializing in advanced solar energy solutions. The company provides cutting-edge solar tracker systems, supporting technology, specialized software, and expert engineering services. Among its core offerings is the Voyager single-axis tracker, designed to orient two solar panels in a portrait configuration. Beyond hardware, FTC Solar develops crucial software platforms, including SunPath for optimizing energy production; Atlas, an enterprise-level, web-based database for managing extensive project portfolios; and SunDAT, a sophisticated tool for automated design and optimization of solar panel systems tailored for residential, commercial, and large-scale utility installations. FTC Solar's client base is diverse, comprising solar project developers, owners of solar assets, and engineering, procurement, and construction (EPC) contractors who are responsible for conceptualizing and executing solar energy ventures. The company was founded in 2017 and is based in Austin, Texas.
Business History
Price Overview
Last updated: Jun 28, 2026 5:28am (just now)$4.79
+0.23 (+5.04%)
Day Range
$4.43 – $4.81
52-Week Range
$3.21 – $12.75
50-Day MA
$4.79
200-Day MA
$7.40
Volume
198,729.00
Analyst Price Targets
Low
$10.00
Consensus
$15.00
High
$20.00
(14 analysts)
Share Structure
Outstanding
16,005,294.00
Float
10,578,219.00
Free Float
66.1%
Normal free float
— 66.1% of shares trade freely, ~33.9% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.87
Stock Price: $4.79
EPS (Diluted): -5.49
EPS (Diluted): -5.49
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-3.79
Stock Price: $4.79
Total Equity: -$40.30M
Shares: 14,012,298
Total Equity: -$40.30M
Shares: 14,012,298
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-3.38
Market Cap: $76.67M
Total Debt: $33.33M
Cash: $21.11M
EBITDA: -$67.55M
Total Debt: $33.33M
Cash: $21.11M
EBITDA: -$67.55M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$165.6M
Market Cap: $76.67M
Total Debt: $33.33M
Cash: $21.11M
Total Debt: $33.33M
Cash: $21.11M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
1.53
Stock Price: $4.79
Revenue: $99.69M
Shares: 14,012,298
Revenue: $99.69M
Shares: 14,012,298
EV/Sales (Total value vs revenue — works when P/E can't)
API1.66
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
1.1%
Gross Profit: $1.13M
Revenue: $99.69M
Revenue: $99.69M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-33.5%
Operating Income: -$33.42M
Revenue: $99.69M
Revenue: $99.69M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-77.2%
Net Income: -$76.92M
Revenue: $99.69M
Revenue: $99.69M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
316.8%
Net Income: -$76.92M
Total Equity: -$40.30M
Total Equity: -$40.30M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-78.5%
Operating Income: -$33.42M
Tax Rate: -0.7%
Equity: -$40.30M
Total Debt: $33.33M
Cash: $21.11M
Tax Rate: -0.7%
Equity: -$40.30M
Total Debt: $33.33M
Cash: $21.11M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.30
Current Assets: $97.77M
Current Liabilities: $75.49M
Current Liabilities: $75.49M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-0.83
Short-Term Debt: $33.33M
Long-Term Debt: $0.00
Total Debt: $33.33M
Total Equity: -$40.30M
Long-Term Debt: $0.00
Total Debt: $33.33M
Total Equity: -$40.30M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$7.11
Revenue: $99.69M
Shares: 14,012,298
Shares: 14,012,298
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-2.88
Total Equity: -$40.30M
Shares: 14,012,298
Shares: 14,012,298
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.47
Operating CF: -$33.44M
CapEx: -$1.13M
Shares: 14,012,298
CapEx: -$1.13M
Shares: 14,012,298
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.79
Stock Price: $4.79
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$76.92M
Net Income: -$76.92M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FTCI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 5:26am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $270.5M | $123.1M | $127.0M | $47.4M | $99.7M |
| Cost of Revenue | $303.1M | $150.3M | $118.7M | $59.9M | $98.6M |
| Gross Profit | -$32.5M | -$27.2M | $8.3M | -$12.6M | $1.1M |
| Operating Expenses | $94.3M | $72.3M | $59.1M | $40.2M | $34.5M |
| Operating Income | -$126.8M | -$99.6M | -$50.8M | -$52.8M | -$33.4M |
| Net Income | -$106.6M | -$99.6M | -$50.3M | -$48.6M | -$76.9M |
| EBITDA | -$105.4M | -$97.3M | -$49.0M | -$46.4M | -$67.6M |
| EPS | $-12.39 | $-9.82 | $-4.35 | $-3.83 | $-5.49 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 5:26am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $102.2M | $44.4M | $25.2M | $11.2M | $21.1M |
| Total Current Assets | $235.8M | $118.7M | $108.5M | $76.1M | $97.8M |
| Total Assets | $243.0M | $134.4M | $123.1M | $89.9M | $111.8M |
| Current Liabilities | $93.2M | $60.3M | $54.7M | $49.1M | $75.5M |
| Long-Term Debt | $0 | $0 | $0 | $9.5M | $0 |
| Total Liabilities | $100.2M | $67.9M | $60.6M | $70.9M | $152.1M |
| Total Equity | $142.9M | $66.5M | $62.5M | $19.0M | -$40.3M |
| Retained Earnings | -$149.2M | -$248.8M | -$299.1M | -$347.7M | -$424.7M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 5:26am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$132.9M | -$54.5M | -$52.7M | -$34.7M | -$33.4M |
| Capital Expenditure | -$1.0M | $-985,000 | $-816,000 | -$1.6M | -$1.1M |
| Free Cash Flow | -$133.9M | -$55.5M | -$53.5M | -$36.3M | -$34.6M |
| Acquisitions (net) | $22.3M | -$3.3M | $419,000 | $0 | $580,000 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$54.2M | $0 | $0 | $0 | $0 |
| Net Change in Cash | $68.8M | -$57.8M | -$19.2M | -$14.0M | $9.9M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 3:09pm (14h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$173.3M $158.7M – $188.0M
|
$217.6M $191.4M – $262.2M
|
$356.2M $313.3M – $429.1M
|
$459.1M $403.9M – $553.2M
|
| EBITDA |
-$111.7M -$121.2M – -$102.3M
|
-$140.3M -$169.0M – -$123.4M
|
-$229.6M -$276.6M – -$202.0M
|
-$296.0M -$356.6M – -$260.3M
|
| Net Income |
-$4.8M -$9.9M – $210,184
|
-$3.5M -$62.2M – $89.5M
|
$9.1M $7.7M – $11.5M
|
$17.8M $15.0M – $22.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 5:26am (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -54.5% | +3.2% | -62.7% | +110.5% |
| Gross Profit Growth | +16.3% | +130.5% | -251.6% | +109.0% |
| Operating Income Growth | +21.5% | +49.0% | -4.0% | +36.7% |
| Net Income Growth | +6.5% | +49.5% | +3.3% | -58.3% |
| EBITDA Growth | +7.7% | +49.6% | +5.3% | -45.6% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-07 | ALVAREZ ANTONIO R | P-Purchase | 2,500.00 | $4.23 | $10,575 |
| 2026-05-06 | ALVAREZ ANTONIO R | P-Purchase | 2,500.00 | $3.98 | $9,950 |
| 2026-05-06 | Carroll Anthony | P-Purchase | 7,250.00 | $3.43 | $24,868 |
| 2026-05-06 | SADASIVAM SHAKER | P-Purchase | 27,025.00 | $3.70 | $99,993 |
| 2026-05-04 | Carroll Anthony | A-Award | 200,000.00 | $0.00 | $0 |
| 2026-05-04 | Carroll Anthony | A-Award | 400,000.00 | $0.00 | $0 |
| 2026-01-15 | Aminpour Sasan | A-Award | 25,000.00 | $0.00 | $0 |
| 2025-12-30 | Behnen Cathy | S-Sale | 1,646.00 | $10.93 | $17,991 |
| 2025-12-30 | Aminpour Sasan | S-Sale | 3,239.00 | $10.93 | $35,402 |
| 2025-12-30 | Brandt Yann | S-Sale | 37,450.00 | $10.83 | $405,584 |
| 2025-12-30 | Brandt Yann | S-Sale | 325.00 | $11.67 | $3,793 |
| 2025-12-16 | Carroll Anthony | P-Purchase | 10,638.00 | $9.53 | $101,380 |
| 2025-12-15 | Carroll Anthony | A-Award | 13,567.00 | $0.00 | $0 |
| 2025-12-15 | Carroll Anthony | 45,000.00 | $6.70 | $301,500 | |
| 2025-12-02 | Brandt Yann | G-Gift | 2,500.00 | $0.00 | $0 |
| 2025-11-18 | Springer David | S-Sale | 100,000.00 | $8.98 | $898,000 |
| 2025-10-20 | Aminpour Sasan | A-Award | 125,000.00 | $0.00 | $0 |
| 2025-10-20 | Behnen Cathy | A-Award | 150,000.00 | $0.00 | $0 |
| 2025-10-20 | Brandt Yann | A-Award | 400,000.00 | $0.00 | $0 |
| 2025-08-05 | ALVAREZ ANTONIO R | A-Award | 7,707.00 | $0.00 | $0 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for FTCI — it's generated by the pipeline (
market-narrative step).
No community reviews yet for FTCI.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30