FTC Solar reported second-quarter revenue of $26.2 million, a 30.8% year-over-year increase and a 51.5% sequential jump, while reaffirming its full-year 2026 revenue growth target of at least 40%. The company posted a GAAP gross loss of $2.2 million and a non-GAAP gross loss of $1.3 million, with adjusted EBITDA loss of $9.8 million. Cash fell to $11.2 million, breaching a $15 million minimum covenant, though lenders provided waivers and the company established a $20 million equity line of credit with Lincoln Park Capital. CEO Anthony Carroll highlighted a 400-megawatt purchase order from a top-five EPC, entry into the Indian market with multiple project wins, and progress on a 330-plus megawatt Australian project now set for second-half deliveries. Third-quarter revenue is guided to $30 million to $35 million, with non-GAAP gross profit ranging from a loss of $0.9 million to a profit of $1.8 million.
FTC Solar IncReaffirms 40% growth, 400MW order, Indian wins, Australian project progress
Provides $20M equity line, potential returns from financing deal
