Filing Flows › FTC Solar (FTCI) › Q2 2025
FTC Solar (FTCI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
FTC Solar (FTCI) reported revenue of $20.0M for the second quarter 2025 (Q2 2025), +75% from a year earlier and -4% from the quarter before. Operating margin was -57.5%, net loss $15.4M (77.2% of revenue).
FTC Solar, Q2 2025: revenue $20.0M (+75% year over year), operating margin -57.5%, net loss $15.4M, operating cash flow −$2.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.0M | -4% | +75% |
| Operating profit | −$11.5M | — | — |
| Net earnings | −$15.4M | — | — |
| Operating cash flow | −$2.3M | — | — |
What changed
Revenue was $20.0M in Q2 2025, up 75% year over year and down 4% from the previous quarter. Product was the largest line at 79% of revenue. Product added $7.1M year over year (up 81%), 83% of the total change.
Operating costs exceeded revenue by $11.5M, an operating margin of -57.5%. Total costs grew 35% against revenue growth of 75%. The fastest-growing cost line was Cost of revenue (+74%). The quarter ended with a net loss of $15.4M, wider than the previous quarter's $3.8M loss.
Operating cash flow was −$2.3M. Non-cash charges added back $305K of depreciation and amortization and $936K of share-based compensation. Working capital and other items added $11.9M. Capital expenditures of $185K exceeded it, leaving free cash flow of −$2.5M.
Questions
What was FTC Solar's revenue in the second quarter 2025?
FTC Solar (FTCI) reported revenue of $20.0M for the second quarter 2025 (Q2 2025), +75% from a year earlier and -4% from the quarter before.
Was FTC Solar profitable in the second quarter 2025?
Operating loss was $11.5M (-57.5% of revenue) and net loss $15.4M.
Source: FTC Solar 10-Q on SEC EDGAR.