Every 10-Q 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-Q covers the quarterly report filed between annual reports, 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. designs and services solar tracker systems and reported Q2 2026 revenue of $26.2 million, up from $20.0 million a year earlier, but still generated a gross loss and a net loss of $27.1 million, or $1.69 per basic share.
For the first six months of 2026, revenue was $43.4 million and a large non‑cash $39.9 million gain from revaluing warrant liabilities produced net income of $5.5 million, while the core business recorded an operating loss of $25.8 million.
Liquidity is tight: cash was $10.1 million at June 30 2026, with a working capital deficit of $7.9 million, stockholders’ deficit of $30.3 million, and significant debt, including $52.1 million of term loans and an A&R promissory note plus $1.1 million of acquisition notes. The company breached minimum cash and direct tracker margin covenants but obtained a limited waiver for Q2, reclassified all credit‑agreement debt as current, and concluded there is substantial doubt about its ability to continue as a going concern. Management is depending on expected project activity, possible lender‑approved delayed‑draw term loans, cost reductions, and a new $20.0 million equity line of credit with Lincoln Park to support near‑term liquidity.
FTC Solar, Inc. reported Q1 2026 revenue of $17.3M, down from $20.8M a year earlier, and a gross loss of $1.2M. The company generated net income of $32.6M, driven almost entirely by a non‑cash $48.7M gain from the change in fair value of its warrant liability, while loss from operations was $12.1M.
Cash used in operations was $12.8M, leaving cash and equivalents at $5.6M and a stockholders’ deficit of $6.1M as of March 31, 2026. Total debt, net of discounts, was $22.6M, and the warrant liability was $25.8M. Management discloses that recurring losses, significant required 2026 principal repayments under its Credit Agreement, minimum unrestricted cash covenants, and acquisition‑related notes create substantial doubt about the company’s ability to continue as a going concern.
The company has an at‑the‑market equity program with about $8.2M of remaining capacity and amended its Credit Agreement in March 2026 to obtain covenant relief in exchange for additional scheduled principal repayments. FTC Solar continues to focus on cost reductions, expanded non‑China supply chains, and leveraging its Alpha Steel subsidiary and software offerings to support utility‑scale solar tracker projects.
FTC Solar (FTCI) filed its Q3 2025 10‑Q, showing higher revenue but continued losses and new financing obligations. Revenue for the quarter was $26.0 million (up from $10.1 million a year ago), producing gross profit of $1.6 million after prior-year gross loss. The quarter’s net loss was $23.9 million, driven in part by a $16.1 million loss from revaluing warrant liabilities and higher interest expense.
Cash and cash equivalents were $24.4 million and total assets $111.5 million. Stockholders’ equity turned to a deficit of $13.7 million from positive $19.0 million at year‑end 2024, reflecting cumulative losses and warrant liability increases, which rose to $48.1 million from $9.5 million. The company drew on a new senior secured term loan facility (up to $75 million), with $14.3 million funded on July 2 and $23.2 million on September 19, bearing 12% interest (7% paid-in-kind) and an estimated ~29% effective rate, plus potential exit fees.
Management states there is substantial doubt about the company’s ability to continue as a going concern, citing recurring losses, covenant requirements (including a $20.0 million minimum cash starting Q4 2025), and reliance on lender discretion for additional draws, with about $13.75 million remaining capacity under its ATM program.