---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-030775"
form_type: "8-K"
ticker: "FTCI"
cik: "0001828161"
company_name: "FTC Solar, Inc."
filed_at: "2024-03-13T23:59:59+00:00"
generated_at: "2026-06-04T22:29:45.360753+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FTC Solar Q4 revenue $23.2M, net loss $11.2M; backlog $1.7B; expects Q1 trough, profitability by Q4

## Summary
- Revenue $23.2M, down 24.1% QoQ and 11.5% YoY; GAAP net loss $0.09/share vs $0.20 loss in Q4 2022.
- Non-GAAP adjusted EBITDA loss $10.1M; Non-GAAP gross margin improved to 4.8% vs -3.4% YoY.
- Added $213M to backlog since Nov 8, total backlog ~$1.7B; Q1 2024 revenue guidance $10M-$15M.
- Expects breakeven Adj. EBITDA by Q3 2024 and profitability in Q4 2024; CEO search underway.
- Operating expenses reduced; Anthony Carroll appointed Chairman of Customer Advisory Board.

## SEC filing metadata
- accession: 0000950170-24-030775
- form_type: 8-K
- ticker: FTCI
- cik: 0001828161
- company_name: FTC Solar, Inc.
- filed_at: 2024-03-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828161/000095017024030775/0000950170-24-030775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828161/000095017024030775/ftci-20240313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-030775
- JSON: https://secwatch.observer/filing/0000950170-24-030775.json
- Plain text: https://secwatch.observer/filing/0000950170-24-030775.txt

## Key facts
- Earnings Releases
  FTC Solar, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $23.2 million, net income $11.2 million, EPS $0.09 per share. Guidance initiated.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $23.2 million
  - Net income: $11.2 million
  - EPS: $0.09 per share
  - Guidance: initiated
  - Result: reported results
  source text: (EX-99.1) --- EX-99.1 Exhibit 99.1 FTC Solar Announces Fourth Quarter 2023 Financial Results Fourth Quarter Highlights and Recent Developments • Fourth quarter revenue of $23.2 million • Continue to improve cost structure to lower break-even revenue level • Added approximately $213 million to backlog 1 since Nov. 8; acceleration in contracted projects • Anthony
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828161/000095017024030775/0000950170-24-030775-index.htm

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