FTC Solar, Inc. provides solar tracker systems, and software and engineering services in the United States and internationally. The company markets its two-panel in-portrait single-axis tracker systems under the Voyager brand name. Its software solutions include SunPath, a solution to enhance energy production; SunDAT, an online 3D solar PV design solution; and Atlas, a solar portfolio management solution. The company serves customers through a sales and support network. Its customers include solar asset owners and project developers; and engineering, procurement, and construction contractors that design and build solar energy projects. The company was incorporated in 2017 and is headquartered in Austin, Texas.
IPO Year: 2021
Exchange: NASDAQ
Website: ftcsolar.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/14/2024 | Buy → Neutral | ROTH MKM | |
| 11/9/2023 | $0.65 | Outperform → Market Perform | Northland Capital |
| 8/15/2023 | $4.00 → $2.50 | Buy → Neutral | UBS |
| 4/13/2023 | $5.00 | Buy | H.C. Wainwright |
| 3/15/2023 | $2.00 → $3.50 | Underperform → Buy | BofA Securities |
| 7/19/2022 | $2.00 → $3.50 | Underweight → Neutral | Piper Sandler |
| 6/6/2022 | Neutral → Buy | ROTH Capital | |
| 5/23/2022 | $7.00 | Outperform | Northland Capital |
| 4/21/2022 | $4.00 → $3.00 | Neutral → Underweight | Piper Sandler |
| 4/8/2022 | $9.00 → $4.00 | Overweight → Neutral | Piper Sandler |
First quarter revenue of $20.8 million, up 58% q/q, above targetCost efficiencies drive operating expenses to multi-year lowSeeing increased customer interest and activity including bid activity up 60% y/yUpsized promissory note offering expected to close in Q2Strengthened Board of Directors with addition of two new members AUSTIN, Texas, May 01, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financial results for the first quarter that ended March 31, 2025. "We're pleased to report first quarter results which were ahead of target mid-points on all metrics," said Yann Brandt, Pre
AUSTIN, Texas, April 24, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its first quarter 2025 financial results before market open on Thursday, May 1, 2025. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its first quarter 2025 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the
Fourth quarter revenue of $13.2 million, at the high end of our prior targetEntered into 5-gigawatt supply arrangement with Recurrent EnergyAwarded 330+ megawatt project in Australia from GPG NaturgyAwarded 280-megawatt project in U.S. from RosendinAppointed industry veteran Kent James as U.S. Chief Commercial OfficerReceived additional $3.2 million earn-out on prior investment post quarter endAnnounced upsizing of promissory note offering for up to additional $10-$15 mil. to close in Q2 AUSTIN, Texas, March 31, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financial results for the fourth quarte
AUSTIN, Texas, March 24, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its fourth quarter and full year 2024 financial results before market open on Monday, March 31, 2025. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its fourth quarter and full year 2024 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference cal
Third Quarter Highlights and Recent Developments Third quarter revenue of $10.1 million, in-line with prior targetIndustry veteran Yann Brandt joined as CEOAnnounced 1GW tracker supply agreement with Dunlieh EnergyAnnounced multi-year agreement with Strata Clean Energy for 500mw, expandable to 1GW+Provided incremental project detail on 1GW of projects with Sandhills EnergyPost quarter-end, received $4.7 million earn-out on prior investmentEntered into binding term sheet for $15 million promissory note to strengthen balance sheet AUSTIN, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financia
AUSTIN, Texas, Nov. 05, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its third quarter financial results before market open on Tuesday, November 12, 2024. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its third quarter 2024 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the
Second quarter revenue of $11.4 millionIndustry veteran Yann Brandt named new CEO, effective August 19Contracted portion of backlog now stands at $505 millionCompany continues to identify operational efficiencies while investing strategically in sales resources AUSTIN, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software and engineering services, today announced financial results for the second quarter ended June 30, 2024. Second Quarter Results"Results for the second quarter were in line with our targets," said Shaker Sadasivam, Chairman of the Board of FTC Solar. "The company continues to drive key initiatives
AUSTIN, Texas, Aug. 01, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its second quarter financial results before market open on Thursday, August 8, 2024. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its second quarter 2024 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the
First quarter revenue of $12.6 millionCompany remains focused on purchase orders, operational efficiencies, quality and customer serviceTotal backlog now stands at $1.8 billionContinue to expect to achieve quarterly profitability in 2024 AUSTIN, Texas, May 10, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software and engineering services, today announced financial results for the first quarter ended March 31, 2024. First Quarter Results"The company's first-quarter results were in line with our targets," said Shaker Sadasivam, Chairman of the Board of FTC Solar. "During the quarter, the company remained focused on advancing key initi
AUSTIN, Texas, May 06, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its first quarter financial results before market open on Friday, May 10, 2024. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its first quarter 2024 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the website
AUSTIN, Texas, Jan. 14, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has appointed solar industry veteran Kent James as Chief Commercial Officer for North America, effective January 6, 2025. Mr. James will spearhead FTC's North American commercial strategy and execution and will report directly to Yann Brandt, FTC's CEO. "Kent is an accomplished solar executive with a demonstrated history of driving sales growth across several businesses, including solar EPC and development companies," said Yann Brandt, CEO. "His strategic, relationship-driven approach, along with his st
AUSTIN, Texas, Aug. 16, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading global provider of solar tracker systems, software, and engineering services, today announced the appointment of Pablo Barahona to its Board of Directors, effective August 12, 2024. Mr. Barahona replaces Isidoro Quiroga Cortes, who resigned from the Board effective August 11, 2024, after more than four years of service to the Board. "We're pleased to welcome Pablo to the FTC Solar Board of Directors," said Shaker Sadasivam, Chairman of the Board, FTC Solar. "Pablo's vast knowledge of different economic sectors across global markets particularly in Latin America and Europe and significant experience i
AUSTIN, Texas, Aug. 15, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading global provider of solar tracker systems, software, and engineering services, announced today that Isidoro Quiroga Cortes has resigned from the company's Board of Directors, effective August 11, 2024, after more than four years of service to the Board. During his time with FTC Solar, Mr. Quiroga Cortes provided guidance and valuable insights into such areas as corporate strategy, governance, and organizational structure. "I'd like to sincerely thank Isidoro for his service to the Board and continued support of FTC Solar," said Shaker Sadasivam, Chairman of the Board, FTC Solar. "He has made many
AUSTIN, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software and engineering services, today announced that its Board of Directors has appointed Yann Brandt, a longtime solar executive, as the company's new President and Chief Executive Officer and a member of the Board, effective August 19, 2024. His appointment has been made following a robust and competitive search process carried out by the Board with support from external resources. Shaker Sadasivam, Chairman of the Board of FTC Solar, said, "FTC has built a strong industry brand and foundation as a company, with a robust catalog of single-axis trackers for both
AUSTIN, Texas, Dec. 07, 2023 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has formed a Customer Advisory Board to support growth and a world-class customer experience, and has named renewables expert Anthony Carroll as its inaugural Chairman. The advisory board will serve as a valuable resource to support company growth from pipeline development through purchase order. Consistent feedback will also ensure the company provides increasingly valuable solutions for customers with a product strategy and roadmap that best aligns with evolving needs in the marketplace. The formation of
AUSTIN, Texas, July 06, 2023 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading global provider of solar tracker systems, software, and engineering services, today announced the appointment of Tony Alvarez, a veteran of the solar and semiconductor industries, as Board Observer. The appointment was effective as of July 5, 2023. Mr. Alvarez brings over 35 years of solar and engineering experience to FTC Solar. He currently serves as EVP of Memory Solutions at Infineon, where he is responsible for all aspects of the company's memory business. Prior to that, he was CEO of Solaria, a leading residential solar company. Mr. Alvarez's experience also includes CEO or other senior-lev
T.J. Rodgers to step down from Board after 5 yearsShaker Sadasivam named Chairman of the BoardTamara Mullings to join the Board AUSTIN, Texas, Jan. 23, 2023 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading global provider of solar tracker systems, software, and engineering services, today announced that Thurman John "T.J." Rodgers, Chairman of the Board of Directors of FTC Solar, has informed the Board that he is stepping down after five years in the role. He will remain a shareholder and continue to be available as an independent advisor. Shaker Sadasivam, an FTC Solar director since 2017, will succeed Rodgers as Chairman. Mr. Rodgers is a founding investor in FTC Solar and
AUSTIN, Texas, Sept. 14, 2021 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a fast-growing global provider of solar tracker systems, software and engineering services, today announced that Tony Etnyre will step down as CEO and member of the Board of Directors. The Board has appointed Sean Hunkler as his successor effective Sept. 24, 2021. Etnyre will continue to support the company on strategic matters and business development through a transition period reaching into 2022. T.J. Rodgers, Chairman of the FTC Solar Board of Directors, said, "This transition comes at a time when Tony's customer adoption efforts at FTC Solar are delivering unprecedented growth, but we are being challenge
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AUSTIN, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software and engineering services, today announced that members of its management team, including CEO Yann Brandt, are scheduled to participate in meetings with investors at the following upcoming conferences: CLEANPOWER 2025 – May 20, 2025, Phoenix. The company will participate in group investor meetings with analysts from UBS, Guggenheim, and Roth Securities. Bank of America Power, Utilities and Alternative Energy Conference – May 28, 2025, New York. The company will host in-person investor meetings. Interested investors should contact their BofA sales representat
First quarter revenue of $20.8 million, up 58% q/q, above targetCost efficiencies drive operating expenses to multi-year lowSeeing increased customer interest and activity including bid activity up 60% y/yUpsized promissory note offering expected to close in Q2Strengthened Board of Directors with addition of two new members AUSTIN, Texas, May 01, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financial results for the first quarter that ended March 31, 2025. "We're pleased to report first quarter results which were ahead of target mid-points on all metrics," said Yann Brandt, Pre
AUSTIN, Texas, April 24, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its first quarter 2025 financial results before market open on Thursday, May 1, 2025. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its first quarter 2025 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the
AUSTIN, Texas, April 08, 2025 (GLOBE NEWSWIRE) -- FTC Solar, a leading provider of cutting-edge solar tracker technology, is excited to unveil its latest innovation with the dual-row configuration for the 1P Pioneer Tracker™, setting a new standard in efficiency and adaptability for solar installations. Designed to meet the demands of challenging terrain, FTC's dual-row system significantly enhances project yield, reduces costs, and maximizes land utilization. With unmatched East-West slope tolerance and customizable options, the dual-row configuration of the 1P Pioneer Tracker™ provides developers and EPCs with a versatile solution for navigating complex project landscapes. Key Features
Fourth quarter revenue of $13.2 million, at the high end of our prior targetEntered into 5-gigawatt supply arrangement with Recurrent EnergyAwarded 330+ megawatt project in Australia from GPG NaturgyAwarded 280-megawatt project in U.S. from RosendinAppointed industry veteran Kent James as U.S. Chief Commercial OfficerReceived additional $3.2 million earn-out on prior investment post quarter endAnnounced upsizing of promissory note offering for up to additional $10-$15 mil. to close in Q2 AUSTIN, Texas, March 31, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financial results for the fourth quarte
AUSTIN, Texas, March 24, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, today announced it will report its fourth quarter and full year 2024 financial results before market open on Monday, March 31, 2025. A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its fourth quarter and full year 2024 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference cal
AUSTIN, Texas, Jan. 14, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has appointed solar industry veteran Kent James as Chief Commercial Officer for North America, effective January 6, 2025. Mr. James will spearhead FTC's North American commercial strategy and execution and will report directly to Yann Brandt, FTC's CEO. "Kent is an accomplished solar executive with a demonstrated history of driving sales growth across several businesses, including solar EPC and development companies," said Yann Brandt, CEO. "His strategic, relationship-driven approach, along with his st
AUSTIN, Texas, Dec. 04, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced that it has closed a previously announced private placement of senior secured promissory notes (the "Notes") in an aggregate principal amount of fifteen million dollars ($15,000,000) and warrants (the "Warrants"). The offering closed on December 4, 2024. The Notes bear interest at a rate of 11% per annum if payable in cash or, at the Company's option, 13% per annum if paid-in-kind and will mature on December 4, 2029. The Warrants are exercisable for five (5) years to purchase an aggregate of 1,750,000 shares of Common Stock at an exercise price of $0
AUSTIN, Texas, Nov. 27, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI) ("FTC Solar"), a leading provider of solar tracker systems, today announced that it will implement a reverse stock split of its issued and outstanding Common Stock at a ratio of 1-for-10, effective at 5:00 PM Eastern Time on November 29, 2024, to satisfy the Nasdaq Capital Market's minimum $1.00 bid price per share requirement. The reverse stock split will be effected simultaneously for all outstanding shares of the Company's Common Stock and will affect all of the Company's stockholders uniformly. FTC Solar's Common Stock will continue to trade on the Nasdaq Capital Market under the Company's existing trading
Third Quarter Highlights and Recent Developments Third quarter revenue of $10.1 million, in-line with prior targetIndustry veteran Yann Brandt joined as CEOAnnounced 1GW tracker supply agreement with Dunlieh EnergyAnnounced multi-year agreement with Strata Clean Energy for 500mw, expandable to 1GW+Provided incremental project detail on 1GW of projects with Sandhills EnergyPost quarter-end, received $4.7 million earn-out on prior investmentEntered into binding term sheet for $15 million promissory note to strengthen balance sheet AUSTIN, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, today announced financia
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ROTH MKM downgraded FTC Solar from Buy to Neutral
Northland Capital downgraded FTC Solar from Outperform to Market Perform and set a new price target of $0.65
UBS downgraded FTC Solar from Buy to Neutral and set a new price target of $2.50 from $4.00 previously
H.C. Wainwright initiated coverage of FTC Solar with a rating of Buy and set a new price target of $5.00
BofA Securities upgraded FTC Solar from Underperform to Buy and set a new price target of $3.50 from $2.00 previously
Piper Sandler upgraded FTC Solar from Underweight to Neutral and set a new price target of $3.50 from $2.00 previously
ROTH Capital upgraded FTC Solar from Neutral to Buy
Northland Capital initiated coverage of FTC Solar with a rating of Outperform and set a new price target of $7.00
Piper Sandler downgraded FTC Solar from Neutral to Underweight and set a new price target of $3.00 from $4.00 previously
Piper Sandler downgraded FTC Solar from Overweight to Neutral and set a new price target of $4.00 from $9.00 previously