Every 10-K that FTC Solar, Inc. (FTCI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FTCI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FTCI filings page.
FTC Solar, Inc. filed a second amendment to its annual report for the year ended December 31, 2025. The amendment is narrowly focused on revising the beneficial ownership table in Item 12 to delete AV Securities, Inc. based on its certification that it does not beneficially own the company’s securities.
The amendment also restates equity compensation plan data, showing 3,925,871 shares subject to options and restricted stock units and 660,993 shares remaining available for future issuance as of December 31, 2025. It adds updated principal executive and financial officer certifications under Section 302 of the Sarbanes-Oxley Act, while leaving all other disclosures from the original and prior amended reports unchanged.
FTC Solar, Inc. filed an amendment to its annual report to add detailed Part III disclosures on directors, executive compensation, ownership and auditor matters, instead of incorporating this information from a later proxy statement.
The filing describes a classified board with three-year terms and confirms that a majority of directors, including the chair, are independent under Nasdaq rules. It outlines committee structures, risk oversight responsibilities and attendance, and notes adoption of a Code of Business Conduct, Insider Trading Policy and a clawback policy.
Compensation data show 2025 total pay of $4.63 million for CEO Yann Brandt, heavily weighted to restricted stock units tied to time- and market-based vesting, and sizable RSU grants for other named executives. The 2021 Stock Incentive Plan authorizes up to 5,071,068 shares, with extensive use of RSUs and performance-based awards.
The amendment also discloses beneficial ownership, including several holders above 5%, related-party arrangements such as supply and financing relationships, and audit fees of $905,000 paid to BDO in 2025.
FTC Solar’s annual report outlines significant financial strain and going concern risk while detailing its solar tracker business and strategy. The company reports $33.4 million of cash used in operations in 2025, year-end cash of $21.1 million, working capital of $29.5 million and a stockholders’ deficit of $43.0 million. Management states there is substantial doubt about its ability to continue as a going concern, given covenant and principal repayment obligations under its Credit Agreement, including extra repayments of $2.5 million in May 2026 and $5.0 million in September 2026. FTC Solar describes a $75 million senior secured term loan facility, issuance of New Warrants for 6,836,237 shares at $0.01 per share, a subordinated $15.0 million promissory note maturing in 2030, and capacity to sell additional equity under an ATM program. It also highlights the 2025 acquisition of Alpha Steel to expand U.S. manufacturing, new product enhancements to its Pioneer and Voyager tracker lines, and detailed risk factors around customer concentration, tariffs, supply chain disruptions, competition and regulatory uncertainty.