Filing Flows › FTC Solar (FTCI) › Q1 2026
FTC Solar (FTCI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
FTC Solar (FTCI) reported revenue of $17.3M for the first quarter 2026 (Q1 2026), -17% from a year earlier and -47% from the quarter before. Operating margin was -69.8%, net earnings $32.6M (188.8% of revenue).
FTC Solar, Q1 2026: revenue $17.3M (-17% year over year), operating margin -69.8%, net earnings $32.6M, operating cash flow −$12.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.3M | -47% | -17% |
| Operating profit | −$12.1M | — | — |
| Net earnings | $32.6M | — | — |
| Operating cash flow | −$12.8M | — | — |
What changed
Revenue was $17.3M in Q1 2026, down 17% year over year and down 47% from the previous quarter. Product was the largest line at 68% of revenue. Product lost $6.4M year over year (down 35%), 182% of the total change.
Operating costs exceeded revenue by $12.1M, an operating margin of -69.8%. Total costs fell 7% while revenue fell 17%. The fastest-growing cost line was General & admin (+58%). Net earnings were $32.6M. The effective tax rate was 0.6%. Non-operating items added $44.9M, 137% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$12.8M. Non-cash charges added back $365K of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items used $49.1M. Capital expenditures of $276K exceeded it, leaving free cash flow of −$13.0M.
Questions
What was FTC Solar's revenue in the first quarter 2026?
FTC Solar (FTCI) reported revenue of $17.3M for the first quarter 2026 (Q1 2026), -17% from a year earlier and -47% from the quarter before.
Was FTC Solar profitable in the first quarter 2026?
Operating loss was $12.1M (-69.8% of revenue) and net earnings $32.6M.
Source: FTC Solar 10-Q on SEC EDGAR.