Filing Flows › FTC Solar (FTCI) › Q1 2025
FTC Solar (FTCI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
FTC Solar (FTCI) reported revenue of $20.8M for the first quarter 2025 (Q1 2025), +65% from a year earlier and +58% from the quarter before. Operating margin was -50.8%, net loss $3.8M (18.4% of revenue).
FTC Solar, Q1 2025: revenue $20.8M (+65% year over year), operating margin -50.8%, net loss $3.8M, operating cash flow −$8.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.8M | +58% | +65% |
| Operating profit | −$10.6M | — | — |
| Net earnings | −$3.8M | — | — |
| Operating cash flow | −$8.5M | — | — |
What changed
Revenue was $20.8M in Q1 2025, up 65% year over year and up 58% from the previous quarter. Product was the largest line at 87% of revenue. Product added $7.3M year over year (up 67%), 89% of the total change.
Operating costs exceeded revenue by $10.6M, an operating margin of -50.8%. Total costs grew 25% against revenue growth of 65%. The fastest-growing cost line was Cost of revenue (+65%). The quarter ended with a net loss of $3.8M, narrower than the previous quarter's $12.2M loss. Non-operating items added $7.0M, -196% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$8.5M. Non-cash charges added back $302K of depreciation and amortization and $280K of share-based compensation. Working capital and other items used $5.2M. Capital expenditures of $83K exceeded it, leaving free cash flow of −$8.6M.
Questions
What was FTC Solar's revenue in the first quarter 2025?
FTC Solar (FTCI) reported revenue of $20.8M for the first quarter 2025 (Q1 2025), +65% from a year earlier and +58% from the quarter before.
Was FTC Solar profitable in the first quarter 2025?
Operating loss was $10.6M (-50.8% of revenue) and net loss $3.8M.
Source: FTC Solar 10-Q on SEC EDGAR.