FTC Solar revenue rises & reports gross loss and global deals

FTC Solar, headquartered in the United States and specializing in solar tracker systems, has reported Q1 2025 revenue of $20.8 million, up 58% quarter-over-quarter. FTC Solar has said it recorded a $3.4 million gross loss, reflecting a gross margin of -16.6% under GAAP. According to FTC Solar, operating expenses were $7.1 million GAAP and $6.6 million Non-GAAP, marking its lowest level in years. FTC Solar reported its net loss was $3.8 million, while bid activity has increased by 60% year-over-year. FTC Solar has signed over 6.5 GW in agreements with Tier 1 customers, expanding its global footprint. As per FTC Solar, its contracted backlog is approximately $482 million, and it has projected Q2 2025 revenue between $30 million and $35 million.