FTC Solar Reports Q3 2026 Revenue Growth and Improved Gross Margins
FTC Solar (FTCI) reported third-quarter revenue of $32.8 million, representing a 25.4% sequential increase and a 26.1% rise compared to the previous year. While the company reported a GAAP diluted loss per share of $0.54, it showed significant improvement in non-GAAP gross profit, reaching $2.8 million with an 8.4% margin, up from a gross loss in the prior quarter. The company is focusing on international expansion and operational efficiency through its 'constructability' design philosophy, which aims to reduce installation labor hours. Despite strong momentum and a contracted backlog of $640 million, FTC Solar lowered its full-year 2026 revenue growth guidance from 40% to 25%. Management expects to reach positive adjusted EBITDA by the first quarter of 2027.
Topics: backlog EBITDA financial results guidance revenue growth