FTC Solar Q2 revenue $11.4M (down 65% YoY), net loss $12.2M; names Yann Brandt CEO

FTC Solar, Inc.

2024-Q2 EPS reported -$0.17 revenue$24,017,000

Q2 revenue $11.4M, down 65% from $32.4M in Q2 2023.
GAAP net loss $12.2M ($0.10 per diluted share) vs $10.4M loss ($0.09) prior year.
GAAP gross margin -20.5% vs 6.8% in Q2 2023; operating expenses $9.6M.
Contracted backlog $505M as of June 30, 2024.
Yann Brandt named CEO effective Aug 19; brings deep solar industry experience.

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