---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-040123"
form_type: "8-K"
ticker: "FTCI"
cik: "0001828161"
company_name: "FTC Solar, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T23:14:52.320560+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# FTC Solar Q2 revenue $32.4M, net loss $10.4M; backlog reaches $1.6B

## Summary
- GAAP net loss of $10.4M ($0.09 per share); Adjusted EBITDA loss $7.2M, flat QoQ.
- Gross margin expanded to 6.8% GAAP (8.2% non-GAAP) from 5.0% prior quarter.
- Backlog grew to $1.6B with $259M added since May; includes 1GW Cat Creek award.
- Q3 revenue guidance $24-34M, down QoQ; expects return to growth in Q4.
- New international awards: 300MW in Spain/Italy, 120MW in South Africa.

## SEC filing metadata
- accession: 0000950170-23-040123
- form_type: 8-K
- ticker: FTCI
- cik: 0001828161
- company_name: FTC Solar, Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828161/000095017023040123/0000950170-23-040123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828161/000095017023040123/ftci-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-040123
- JSON: https://secwatch.observer/filing/0000950170-23-040123.json
- Plain text: https://secwatch.observer/filing/0000950170-23-040123.txt

## Key facts
- Earnings Releases
  FTC Solar, Inc. reported the second quarter ended June 30, 2023 results: revenue $32.4 million, net income $10.4 million, EPS $0.09 per share. Guidance lowered.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $32.4 million
  - Net income: $10.4 million
  - EPS: $0.09 per share
  - Guidance: lowered
  - Result: reported results
  source text: Total second-quarter revenue was $32.4 million, coming in short of our target range, as customer project delays pushed revenue to future periods. This revenue level represents a decrease of 20.9% compared to the prior quarter, on lower product volume. Compared to the year-earlier quarter, revenue increased 5.3%, driven primarily by higher product volume. GAAP gross profit was $2.2 million, or 6.8% of revenue, compared to gross profit of $2.0 million, or 5.0% of revenue, in the prior quarter. Non-GAAP gross profit was $2.6 million or 8.2% of revenue. The result for this quarter compares to a non-GAAP gross loss of $5.4 million in the prior-year period, with the difference driven primarily by significantly improved product direct margins. GAAP operating expenses were $12.6 million. On a non-GAAP basis, excluding stock-based compensation and certain other costs, operating expenses were $9.7 million, compared to $12.4 million in the year-ago quarter. The year-over-year decrease was driven
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828161/000095017023040123/0000950170-23-040123-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.