Earnings Releases·Nov 4, 2026, 6:39 AM ET

FTC Solar — Third Quarter 2026 Earnings Summary

Revenue reached $32.8 million in Q3 2026, marking a 25.4% sequential and 26.1% year-over-year increase, while GAAP net income improved to $6.7 million (vs. a $23.9 million loss in the prior-year quarter).
The company guided Q4 revenue to $44.0–$52.0 million (approx. 46% sequential growth) and expects to achieve Adjusted EBITDA profitability in Q1 2027, with full-year profitability anticipated in 2027.
Strategic momentum is driven by a $640 million backlog and new wins including a 750 MW North American project, a 500 MW UK agreement with AGR Renewables, and partnerships in India and Australia.
Capital structure shifted with short-term debt rising to $24.8 million and long-term debt eliminated to $0, while cash and restricted cash totaled $16.7 million.
Risks remain regarding binding pricing on awarded orders within the backlog, and management noted a $19.5 million non-cash gain from warrant liability changes excluded from Adjusted EBITDA.