earnings
confidence high
sentiment negative
materiality 0.80
FTC Solar Q1 rev $49.6M (incl. $5M reserve), net loss $27.8M; withdraws FY22 guidance
FTC Solar, Inc.
2022-Q1 EPS reported
-$0.28
revenue$49,553,000
- GAAP net loss $27.8M ($0.28 diluted EPS); non-GAAP net loss $20.3M ($0.20 EPS).
- Revenue fell 25% YoY to $49.6M, including $5M customer credit reserve.
- Q2 rev guidance $30-35M; non-GAAP gross margin negative 29% to negative 19%.
- Executed contracts and awarded orders $664M, with $112M added since March 15.
- Pipeline reaches record 32+ GW; HX Tracker acquisition on track for Q2 close.