FTC Solar appoints Anthony Carroll CEO; Q1 revenue falls 47% to $17.3M

FTC Solar, Inc.

Anthony Carroll appointed President/CEO effective April 29, replacing Yann Brandt; Carroll previously CEO of Veev (Lennar) and President of Powin.
Q1 revenue $17.3M, down 47% QoQ and 17% YoY; GAAP net income $32.6M included warrant gain; non-GAAP net loss $10.5M ($0.67 loss per share).
Non-GAAP gross loss improved to $0.4M (2.2% margin) from $3.0M in Q1 2025; GAAP gross loss $1.2M (7.1% margin).
New CEO receives $700k base salary, $900k sign-on bonus (three annual installments), 400k time-based RSUs, and 200k performance RSUs with $10/$20 price hurdles.
Awarded 1GW 1P tracker agreement with a new leading global offtaker customer.

item 2.02 item 5.02 item 9.01

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