Filing Flows › Technology › FTC Solar (FTCI)
FTC Solar (FTCI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · FTC Solar (FTCI) Q3 2026 earnings results →
Q3 2026 Revenue up 26% year over year to $32.8M · 20¢ of every $1 of revenue kept as net profit · operating margin -26.0%
FTC Solar made $32.8M in Q3 2026 (+26% Y/Y): Product $32.2M, Service $628K. Operating margin -26.0%, net earnings $6.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $32.8M in Q3 2026, up 26% year over year and up 25% from the previous quarter. Product was the largest line at 98% of revenue. Product added $12.1M year over year (up 60%), 179% of the total change. Service declined 89%.
Gross margin was 5.8%, down 0.3 points from Q3 2025. Operating costs exceeded revenue by $8.5M, an operating margin of -26.0%. Operating expenses grew 12% against revenue growth of 26%. The fastest-growing cost line was Sales & marketing (+34%). Net earnings were $6.7M. The effective tax rate was 3.0%. Non-operating items added $15.5M, 224% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.6M, 83% of net earnings. Non-cash charges added back $430K of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $3.7M. Capital expenditures of $14K left free cash flow of $5.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $32.8M | +26% | -26.0% | $6.7M | $5.6M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $26.2M | +31% | -52.5% | −$27.1M | $8.3M |
| Q1 2026 | 10-Q | May 5, 2026 | $17.3M | -17% | -69.8% | $32.6M | −$12.8M |
| Q4 2025 | 10-K | Mar 24, 2026 | $32.9M | +149% | -17.2% | −$36.4M | −$8.0M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $26.0M | +157% | -29.6% | −$23.9M | −$14.6M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $20.0M | +75% | -57.5% | −$15.4M | −$2.3M |
| Q1 2025 | 10-Q | May 1, 2025 | $20.8M | +65% | -50.8% | −$3.8M | −$8.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About FTC Solar
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a global provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.
In its own words, from its 8-K, filed Aug 5, 2026.
FTC Solar against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +40%. Operating margin: -26.0% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FTCI FTC Solar | Q3 2026 | $32.8M | +26% | -26.0% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: FTC Solar 10-Q on SEC EDGAR · CIK 1828161 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns FTCI and who is buying
More on FTCI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results