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The company also announced a 5-GW supply arrangement with Recurrent Energy, a utility-scale solar developer. The projects are expected to be located in the U.S., Europe, and Australia and utilize a combination of the company’s 1P and 2P tracker technologies.
Shares of FTC Solar (FTC), a provider of solar tracker systems, technology, software, and engineering services, were in the spotlight on Monday morning after the company’s fourth-quarter revenue topped Wall Street estimates, but losses came in wider than estimated.
Revenue fell 43% year-over-year (YoY) to $13.20 million but topped a Street estimate of $11.61 million. The company had guided for revenue of $10 million to $14 million for the quarter.
FTC Solar reported a loss of $0.96 per share compared to an estimated loss of $0.84.
CEO Yann Brandt noted that during his first six months, the company has focused on shoring up its near-term backlog.
He said that FTC Solar has added multiples of its current annual revenue run rate to its backlog, signing several gigawatts (GW) of agreements with Tier 1 accounts.
“We believe our revenue bottomed in Q3, we saw growth in Q4, expect growth in Q1, and have been winning many new awards that we believe will help us ramp our revenue, achieve adjusted EBITDA breakeven, and become a strong and significant competitor in the industry,” Brandt said.
The company also announced a 5-GW supply arrangement with Recurrent Energy, a utility-scale solar developer. The projects are expected to be located in the U.S., Europe, and Australia and utilize a combination of the company’s 1P and 2P tracker technologies.
It also announced a 333-MW project award from GPG, the power generation subsidiary of Naturgy, which operates in more than 20 countries and has 16 million customers.
For the first quarter, FTC Solar expects revenue of $18 million to $20 million versus an analyst estimate of $23.47 million and a non-GAAP loss of $4.8 to $2.3 against an estimated loss of $0.55.
FTC Solar said it continues to expect to achieve adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) breakeven on a quarterly basis within 2025.
On Stocktwits, retail sentiment dipped marginally but continued to trend in the ‘bullish’ territory (58/100).
FTC Solar shares have lost over 56% in 2025 and are down over 52% in the past 12 months.
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