FTC Solar defers $5M repayment to March 2027, waives Q3/Q4 2026 credit covenants

FTC Solar, Inc.

Third Amendment to July 2, 2025 credit agreement defers a $5,000,000 ECF repayment from September 30, 2026 to March 31, 2027.
No financial covenants apply to Q3 or Q4 2026; minimum unrestricted cash of $15,000,000 is tested starting January 4, 2027.
Revenue covenant: LQ revenue of at least $60,000,000 for the quarter ending March 31, 2027, rising to $75,000,000 for each quarter thereafter.
EBITDA covenant: at least $2,000,000 for Q1 2027, then $25,000,000 for the 12 months ending December 31, 2027 and each fiscal year end after.
Direct tracker margin thresholds begin with the quarter ending March 31, 2027; the minimum Purchase Order Amount covenant is unchanged and applies that quarter.

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