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FTC Solar (FTCI)
NASDAQ:FTCI
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.78Last Year’s EPS
-$0.8Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -40.33%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted FTC Solar's strong position in the 1P market, new supply agreements, and improved capital position, reflecting potential for future growth. However, the call also revealed significant revenue decline, high gross loss, and financial challenges, indicating current operational difficulties.Company Guidance
During the FTC Solar Third Quarter 2024 Earnings Conference Call, several key metrics were discussed, highlighting the company's current position and future outlook. Yann Brandt, the CEO, emphasized that 70% of the company's current purchase orders are for their new 1P Pioneer product, reflecting a significant shift from previous quarters where 1P revenues were only 16% and 30% in Q2 and Q3, respectively. The company aims to capitalize on this momentum to increase its total addressable market by approximately 85%. Despite a revenue drop to $10.1 million, a 66.8% decrease from the previous year, FTC Solar is aiming for profitability by 2025, supported by a new $15 million promissory note and a $4.7 million cash earn-out from a previous investment. The company also reported a non-GAAP gross loss of $3.9 million, equating to 38.3% of revenue, and aims to achieve a breakeven revenue level between $50 million and $60 million. Looking ahead, FTC Solar expects a revenue range of $10 million to $14 million in Q4, continuing to build upon its expanded product offerings and strategic agreements, such as the multi-year supply deal with Strata Clean Energy for at least 500 megawatts of 2P trackers.Strong Position in the 1P Market
Over 70% of bookings are now for the 1P Pioneer product, compared to 16% in Q2 and 30% in Q3, indicating a strong position in the 1P market and potential for growth in 2025.
New Supply Agreements
FTC Solar signed a multiyear supply agreement with Strata Clean Energy for at least 500 megawatts of 2P trackers, and a 1 gigawatt supply agreement with Dunlieh Energy, highlighting new business opportunities.
Improved Capital Position
FTC Solar entered into a binding term sheet for a $15 million note placement and received $4.7 million cash from an earn-out, improving its capital position.
Product Innovations
The company introduced high wind solutions and compatibility for all module types, enhancing its product offerings and competitive edge.
Successful Investment Outcome
FTC Solar's $4 million investment in Dimension Energy has yielded $31 million with potential for an additional $5 million, demonstrating successful strategic investments.
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FTCI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FTCI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $5.21 | $4.55 | -12.67% |
| Aug 08, 2024 | $3.80 | $2.53 | -33.42% |
| May 10, 2024 | $5.50 | $4.66 | -15.27% |
| Mar 13, 2024 | $4.75 | $4.45 | -6.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does FTC Solar (FTCI) report earnings?
FTC Solar (FTCI) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is FTC Solar (FTCI) earnings time?
FTC Solar (FTCI) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FTCI EPS forecast?
FTCI EPS forecast for the fiscal quarter 2024 (Q4) is -$0.78.
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