FTC Solar, Inc.
FTCINasdaqTechnology · Semiconductors & Related Devices · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $99.7M | $47.4M | $127.0M | $123.1M | $270.5M | $187.4M |
| Operating income | −$35.4M | −$52.8M | −$50.8M | −$99.6M | −$126.8M | −$16.9M |
| Net income | −$79.6M | −$48.6M | −$50.3M | −$99.6M | −$106.6M | −$15.9M |
| Total assets | $111.8M | $89.9M | $123.1M | $134.4M | $243.0M | $71.4M |
| Total liabilities | $154.8M | $70.9M | $60.6M | $67.9M | $100.2M | $63.9M |
| Equity | −$43.0M | $19.0M | $62.5M | $66.5M | $142.9M | $7.5M |
| EPS (diluted) | $-5.68 | $-3.83 | $-4.35 | $-0.98 | $-1.24 | $-0.23 |
| Shares out. | 12.9M | 125.6M | 106.2M | 99.1M | 92.6M | 66.2M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −35.5%
- Net margin
- −79.8%
- Return on equity
- 185.2%
- Return on assets
- −71.2%
- Return on capital (ROCE)
- −81.3%
- Liabilities / assets
- 138.4%
- Debt / equity
- —
- Book value / share
- $-3.34
- Revenue growth (YoY)
- 110.5%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -13.15distress
- Accruals / assets
- −41.3%clean
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 4 warning● 3 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Strong return on equity (>15%)
- Revenue is growing year-over-year
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Springer DavidPassive (13G)Feb 13, 2026
- Arc Family TrustPassive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 997,926 | 3.0 | -0.2% |
| Apr 30, 2026 | 999,921 | 13.1 | +3.0% |
| Apr 15, 2026 | 971,197 | 5.2 | -3.5% |
| Mar 31, 2026 | 1.0M | 7.0 | -1.9% |
| Mar 13, 2026 | 1.0M | 4.3 | +14.1% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operations · Director / officer changeMay 5, 2026
- Entered a material agreement · Debt acceleration / triggering eventMar 24, 2026
- Results of operationsMar 5, 2026
- Director / officer changeDec 15, 2025
- Results of operationsNov 12, 2025
- Director / officer change · Shareholder voteSep 4, 2025
- Results of operations · Director / officer changeAug 5, 2025
- Entered a material agreement · New financial obligation · Unregistered equity sale · Regulation FD disclosureJul 7, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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