---
title: "FTC Solar, Inc. 1Q 2026: Revenue $17.3M, Net income $32.6M, EPS $(0.72) — 10-Q Summary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285215768.md"
description: "FTC Solar, Inc. reported Q1 2026 results with revenue of $17.3M, down 17% from $20.8M a year earlier. Net income was $32.6M, a turnaround from a net loss of $(3.8) M in Q1 2025, largely due to a $48.7M non-cash warrant fair-value gain. Diluted EPS was $(0.72). The revenue mix shifted, with product revenue down 35% and service revenue up 112%. The company also launched new products and reduced reliance on China for supply chain."
datetime: "2026-05-05T13:21:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285215768.md)
  - [en](https://longbridge.com/en/news/285215768.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285215768.md)
---

# FTC Solar, Inc. 1Q 2026: Revenue $17.3M, Net income $32.6M, EPS $(0.72) — 10-Q Summary

FTC Solar, Inc. reported first-quarter 2026 results with revenue of $17.3M, down from $20.8M a year earlier, and net income of $32.6M versus a net loss of $(3.8) M in Q1 2025, reflecting a significant non‑cash warrant fair‑value gain; diluted EPS was $(0.72) for the quarter.

**Financial Highlights**

-   Revenue was $17.3M for Q1 2026, compared with $20.8M in Q1 2025; YoY change (17.0%).
-   Net income was $32.6M for Q1 2026, versus a net loss of $(3.8) M in Q1 2025 (turnaround YoY), driven largely by a $48.7M non‑cash warrant fair‑value gain.
-   Diluted EPS was $(0.72) for Q1 2026, versus $(0.58) in Q1 2025 (both periods affected by warrant valuation and dilutive instruments).

**Business Highlights**

-   Revenue mix shifted: product revenue fell 35% quarter‑over‑quarter while service revenue rose 112%, attributed to project timing and higher logistics activity.
-   Production and pricing: megawatts produced were down about 52% QoQ, but average selling price rose roughly 34% as project mix boosted per‑watt pricing.
-   Product and technology development: launched Pioneer dual‑row, Pioneer+ High Wind and 80° stow to broaden tracker capabilities and market fit.
-   Supply‑chain strategy: reduced reliance on China, qualified non‑China suppliers and acquired Alpha Steel to support U.S. content and domestic manufacturing.
-   Operational investment: increased R&D, sales and marketing headcount and technology spending to support product development and software platforms (SUNPATH/SUNOPS) and international growth.

Original SEC Filing: FTC Solar, Inc. \[ FTCI \] - 10-Q - May. 05, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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