---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-057437"
form_type: "8-K"
ticker: "FTCI"
cik: "0001828161"
company_name: "FTC Solar, Inc."
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T04:06:28.495435+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FTC Solar Q1 revenue $12.6M, down 69% YoY; net loss $0.07/share; backlog $1.8B

## Summary
- Revenue $12.6M, down 69% YoY vs $40.9M; GAAP gross margin negative 16.7%.
- GAAP net loss $8.8M ($0.07 EPS) vs $11.8M loss ($0.11 EPS) in Q1 2023.
- Backlog stands at $1.8B; company expects revenue weighted to H2 2024.
- Guidance: Q2 rev $10.5-15.5M; targeting positive adjusted EBITDA by Q4 2024.
- Non-GAAP adjusted EBITDA loss $10.7M; operating expenses $8.7M (non-GAAP).

## SEC filing metadata
- accession: 0000950170-24-057437
- form_type: 8-K
- ticker: FTCI
- cik: 0001828161
- company_name: FTC Solar, Inc.
- filed_at: 2024-05-10T23:59:59+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/1828161/000095017024057437/0000950170-24-057437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828161/000095017024057437/ftci-20240510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-057437
- JSON: https://secwatch.observer/filing/0000950170-24-057437.json
- Plain text: https://secwatch.observer/filing/0000950170-24-057437.txt

## Key facts
- Earnings Releases
  FTC Solar, Inc. reported the first quarter ended March 31, 2024 results: revenue $12.6 million, net income $8.8 million or $0.07 per share, EPS $0.07 per share.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $12.6 million
  - Net income: $8.8 million or $0.07 per share
  - EPS: $0.07 per share
  - Result: reported results
  source text: EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 FTC Solar Announces First Quarter 2024 Financial Results First Quarter Highlights and Recent Developments • First quarter revenue of $12.6 million • Company remains focused on purchase orders, operational efficiencies, quality and customer service • Total backlog now stands at $1.8 billion • Continue to expect to achieve
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828161/000095017024057437/0000950170-24-057437-index.htm

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