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How FTC Solar (FTCI) makes money

FTC Solar (FTCI) made $32.8M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Product brought in $32.2M (98%); Service brought in $628K (2%).

Drawing the Sankey…

FTC Solar revenue by segment, Q3 2026FTC Solar revenue by segment, Q3 2026Product$32.2MService$628K
FTC Solar: revenue by line, Q1 2025 to Q3 2026FTC Solar: revenue by line, Q1 2025 to Q3 2026ProductServiceProduct: $32.2M latest$32.2MService: $628K latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Product went from 87% of revenue in Q1 2025 to 98% in Q3 2026, the largest shift in the mix.
FTC Solar revenue by quarterFTC Solar revenue by quarter$20.8MQ1 2025$20.0MQ2 2025$26.0MQ3 2025$32.9MQ4 2025$17.3MQ1 2026$26.2MQ2 2026$32.8MQ3 2026
FTC Solar: where each dollar of revenue goesFTC Solar: where each dollar of revenue goesIncome tax1¢Operating cash flow17¢Free cash flow17¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Product$32.2M98.1%+44%+60%
Service$628K1.9%-83%-89%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$32.8M100.0%
Income tax$210K0.6%
Operating cash flow$5.6M16.9%
Free cash flow$5.5M16.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$32.8M+26%
Q2 2026$26.2M+31%
Q1 2026$17.3M-17%
Q4 2025$32.9M+149%
Q3 2025$26.0M+157%
Q2 2025$20.0M+75%
Q1 2025$20.8M+65%

From FTC Solar's 10-Q filed Nov 4, 2026 (on EDGAR).

Questions

How does FTC Solar make money?

FTC Solar (FTCI) made $32.8M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Product brought in $32.2M (98%); Service brought in $628K (2%).

What is FTC Solar's biggest business?

Product: $32.2M in the third quarter 2026, 98% of revenue, +60% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.