Trade FTC Solar, Inc. - FTCI CFD

FTC Solar, Inc. Company profile

About FTC Solar Inc

FTC Solar, Inc. is a provider of solar tracker systems, technology, software, and engineering services. The Company's tracker systems markets under the brand name Voyager. Voyager is a two-panel in-portrait single-axis tracker solution that offers performance and ease of installation. The Company offers a software solution, SunPath, which uses algorithms that take into consideration topography, meteorological conditions and other local site conditions to optimize tracking and help produce additional energy yield over base-model Voyager Trackers. It also offers Atlas and SunDAT software. Atlas software solution provides project developers and solar asset owners with a solution to manage all solar energy projects on a centralized platform. SunDAT software solution enables automated design and optimization of solar panel systems across residential, commercial and utility-scale sites.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, FTC Solar Inc revenues increased 44% to $270.5M. Net loss increased from $15.9M to $106.6M. Revenues reflect Product increase of 43% to $227.4M, Service increase of 52% to $43.1M. Higher net loss reflects Stock-based Compensation in General increase from $1.4M to $48M (expense), General and administrative - Balancing increase from $10.4M to $27.9M (expense).