FTC Solar (NASDAQ:FTCI) Posts Earnings Results, Misses Estimates By $0.32 EPS

Posted by Francis Steltz on Aug 5th, 2026

FTC Solar (NASDAQ:FTCI – Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.32), FiscalAI reports. The firm had revenue of $26.16 million during the quarter, compared to analyst estimates of $24.39 million.

Here are the key takeaways from FTC Solar’s conference call:

Q2 revenue reached $26.2 million, up 51.5% sequentially and 30.8% year over year, slightly exceeding the company’s target range. FTC Solar reaffirmed its expectation for at least 40% full-year 2026 revenue growth, with Q3 revenue projected at $30 million to $35 million.
Customer traction is expanding, including a new 400-megawatt 1P purchase order from a top-five EPC for a top-five U.S. developer and a roughly 100-megawatt 1P order from an existing 2P customer. FTC is now approved on the AVLs of nine of the top 10 EPCs and recently added five large EPCs and six large developers.
International expansion is gaining momentum, with a new approximately 90-megawatt Australian win, a previously announced 330-plus-megawatt Australian project moving forward, and multiple initial India projects ranging from pilots to more than 100 megawatts. Management also highlighted potential future productivity gains from AI, software, and construction robotics.
The company remains unprofitable, reporting a GAAP gross loss of $2.2 million and an adjusted EBITDA loss of $9.8 million in Q2, while non-GAAP gross margin was negative 5.1%. Management expects margins to improve with scale, supply-chain initiatives, and cost reductions, but profitability has not yet been achieved.
Liquidity and financing remain significant risks: FTC ended Q2 with only $11.2 million in cash, below its $15 million lender covenant, and also missed its minimum margin covenant. Although lenders waived the Q2 breaches and the company established a potential $20 million equity line, all credit-agreement borrowings were classified as current and future covenant waivers are not assured.

FTC Solar Price Performance

Shares of FTCI traded down $0.13 during midday trading on Wednesday, reaching $2.95. 425,402 shares of the stock were exchanged, compared to its average volume of 214,468. FTC Solar has a twelve month low of $2.57 and a twelve month high of $12.75. The company has a market capitalization of $47.20 million, a price-to-earnings ratio of -0.51 and a beta of 1.87. The business’s 50-day moving average price is $4.45 and its 200 day moving average price is $5.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FTCI. Vanguard Group Inc. lifted its stake in FTC Solar by 18.4% in the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock valued at $2,417,000 after buying an additional 53,391 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of FTC Solar in the 4th quarter valued at $1,482,000. Geode Capital Management LLC increased its holdings in shares of FTC Solar by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 112,308 shares of the company’s stock valued at $1,226,000 after acquiring an additional 8,518 shares during the period. Goldman Sachs Group Inc. raised its position in FTC Solar by 29.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 81,798 shares of the company’s stock valued at $892,000 after purchasing an additional 18,607 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in FTC Solar during the 4th quarter worth $836,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FTCI shares. Wall Street Zen raised FTC Solar from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. TD Cowen reduced their price objective on shares of FTC Solar from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FTC Solar in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

Read Our Latest Research Report on FTCI

About FTC Solar

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FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company’s tracker solutions are engineered to follow the sun’s path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.

Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.