FTC Solar, Inc. (FTCI) Earnings
FTC Solar, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $-0.39. FTCI has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -204.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.41 | $-0.67 | -63.4% | $17M | -28.8% |
| Mar 5, 2026 | $-0.26 | $-2.23 | -755.8% | $33M | +0.2% |
| Nov 12, 2025 | $-0.50 | $-0.36 | +28.0% | $26M | -20.2% |
| May 1, 2025 | $-0.67 | $-0.84 | -25.4% | $21M | +6.1% |
| Mar 31, 2025 | $-0.83 | $-0.80 | +3.6% | $13M | -43.8% |
| Aug 8, 2024 | $-0.90 | $-0.90 | +0.0% | $11M | -12.3% |
| May 10, 2024 | $-0.90 | $-0.90 | +0.0% | $13M | -2.5% |
| Mar 13, 2024 | $-0.70 | $-0.80 | -14.3% | $23M | +0.4% |
| Feb 28, 2023 | $-1.20 | $-1.10 | +8.3% | $26M | +5.8% |
| Nov 9, 2022 | $-1.90 | $-1.70 | +10.5% | $17M | -3.8% |
| Mar 15, 2022 | $-1.20 | $-1.70 | -41.7% | $102M | +40.2% |
| Nov 10, 2021 | $-2.00 | $-1.70 | +15.0% | $53M | +17.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Leadership transition: Anthony Carroll appointed as new President and CEO. Jan Brand's contributions included securing strategic financing, completing 1P tracker introduction, etc. • Q1 operational takeaways: Revenue lower than expected due to a delayed project, but operating expenses better than expected. Customer momentum and new business bookings exceptional. Added to 9 of the top 10 EPCs' approved vendor lists. Won a new one gigawatt award with the first tranche contracted, expected to add meaningfully to 2026 revenue. Bookings running at about a $55 million quarterly run rate. Team working well across R&D, engineering, sales support, etc., with trackers receiving excellent feedback and aim for 20% labor savings.
Guidance
• Second quarter targets: Revenue between $22 million and $26 million. Non-GAAP gross profit between negative $1.4 million and positive $1 million. Non-GAAP operating expenses between $8.4 million and $9 million. Adjusted EBITDA loss between $10.5 million and $7.4 million. • Full-year outlook: First quarter expected to be low point in revenue for the year with sequential growth remaining. Confident full-year revenue will outpace market in 2026, representing ~40% growth relative to 2025. • Liquidity: Ended Q1 with about $5.6 million in cash, but new cash and expected cash from new business mean no intention to utilize ATM going forward and will terminate the program.
Segment performance
Revenue was $17.3 million in Q1, below target range due to a delayed key project. GAAP gross loss was $1.2 million (7.1% of revenue), non-GAAP gross loss was $0.4 million (2.2% of revenue). GAAP operating expenses were $10.8 million, non-GAAP operating expenses were $7.8 million. Contracted backlog stands at $543 million, with about $52 million added since March 5th.
Risks & headwinds
• Forward-looking statements include risks and uncertainties, actual results could differ materially from expectations. • Tax equity pause creates ambiguity on tax capacity and timing, which may impact business, though near-term projects have secured tax equity financing and international business is growing.
Analyst Q&A
Q: Philip Shen asked about CEO change timing and Anthony's vision.
A: Shekhar said company made progress, board saw need for CEO with scaling experience, Anthony has relevant background. Anthony talked about global experience, scaling business, building on company's foundations.
Q: Philip Shen asked about one gigawatt award and delayed project.
A: Patrick said first tranche of one gigawatt award expected to create meaningful revenue in back half of 2026 and early 2027, won due to constructability, ease of install, customer service. Delayed project in Q1 was due to project scheduling delays, expected to move forward soon.
Q: Philip Shen asked about tax equity pause impact.
A: Patrick said too early to tell, near-term projects have secured tax equity financing, international business growing, watching ITC progress.
Q: Samir Joshi asked about geographical distribution of revenues, DLED project delay impact, and bookings run rate.
A: Anthony said currently U.S.-centric but international sector expected to gain momentum. DLED project delay expected to hit soon and drive revenue in 2026. Bookings run rate due to engaging early with customers, getting on AVLs, partnering in designs.