FTC Solar Q3 revenue $10.1M (-67% YoY); net loss $15.4M; new CEO, tracker deals

FTC Solar, Inc.

2024-Q3 EPS reported -$0.29 revenue$34,153,000

Q3 revenue $10.1M, down 67% YoY from $30.5M; GAAP net loss $15.4M ($0.12 EPS).
GAAP gross margin -42.5%, vs 11.1% a year ago; adjusted gross margin -38.3%.
Backlog contracted portion $513M; added $18M in new purchase orders since Aug 8.
Yann Brandt appointed CEO; 1GW tracker supply agreement with Dunlieh Energy.
Entered $15M promissory note term sheet; received $4.7M earn-out post-quarter.

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