--- title: "FTC Solar | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 17.27 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285189004.md" datetime: "2026-05-05T10:42:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285189004.md) - [en](https://longbridge.com/en/news/285189004.md) - [zh-HK](https://longbridge.com/zh-HK/news/285189004.md) --- # FTC Solar | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 17.27 M Revenue: As of FY2026 Q1, the actual value is USD 17.27 M, missing the estimate of USD 24.26 M. EPS: As of FY2026 Q1, the actual value is USD -0.72. EBIT: As of FY2026 Q1, the actual value is USD -8.167 M. ### Financial Highlights for FTC Solar, Inc. (Q1 2026) #### Revenue FTC Solar, Inc. reported total first-quarter revenue of $17.3 million, representing a 47.5% decrease compared to the prior quarter and a 17.0% decrease year-over-year (YoY) from $20.8 million in Q1 2025. Product revenue decreased to $11.762 million in Q1 2026 from $18.202 million in Q1 2025, while Service revenue increased to $5.503 million in Q1 2026 from $2.601 million in Q1 2025. #### Gross Profit/Loss and Margin GAAP gross loss was - $1.2 million, or -7.1% of revenue, in Q1 2026, compared to a gross loss of - $3.447 million, or -16.6% of revenue, in Q1 2025. Non-GAAP gross loss was - $0.4 million, or -2.2% of revenue, in Q1 2026, an improvement from a Non-GAAP gross loss of - $3.0 million, or -14.4% of revenue, in Q1 2025. #### Operating Expenses Total GAAP operating expenses increased to $10.831 million in Q1 2026 from $7.113 million in Q1 2025. Non-GAAP operating expenses were $7.843 million in Q1 2026, compared to $6.645 million in Q1 2025. #### Loss from Operations GAAP loss from operations was - $12.058 million in Q1 2026, an increase from - $10.560 million in Q1 2025. #### Net Income (Loss) GAAP net income was $32.599 million in Q1 2026, a significant improvement from a net loss of - $3.819 million in Q1 2025. Non-GAAP net loss was - $10.460 million in Q1 2026, compared to a Non-GAAP net loss of - $10.801 million in Q1 2025. #### Adjusted EBITDA Adjusted EBITDA loss was - $8.220 million in Q1 2026, an improvement from - $9.750 million in Q1 2025. #### Cash Flow Net cash used in operating activities was - $12.772 million in Q1 2026, compared to - $8.483 million in Q1 2025. Net cash used in investing activities was - $0.276 million in Q1 2026, compared to net cash provided by investing activities of $3.124 million in Q1 2025. Net cash used in financing activities was - $2.419 million in Q1 2026, compared to net cash provided by financing activities of $0.003 million in Q1 2025. Cash and cash equivalents at the end of Q1 2026 were $5.639 million, down from $21.105 million at December 31, 2025. #### Executive Compensation Anthony Carroll was appointed President and Chief Executive Officer of FTC Solar, Inc. on April 29, 2026, with an annual base salary of $700,000 and an annual target incentive award of 100% of his base salary, potentially reaching 200%. He will receive a sign-on cash payment of $900,000, paid in installments, and 400,000 Time-Based Restricted Stock Units (RSUs) vesting over three and four years, along with 200,000 Share Target RSUs tied to $10 and $20 price hurdles. #### Backlog and New Awards The contracted portion of the company’s backlog stands at approximately $543 million. FTC Solar, Inc. was awarded a 1GW agreement for 1P trackers from a new customer for multiple project sites in the U.S., with the first of three tranches already contracted. #### Outlook FTC Solar, Inc. anticipates Q1 2026 to be the low point for revenue, with sequential quarterly growth expected for the remainder of the year. The company projects full-year 2026 revenue to grow approximately 40% relative to 2025. For Q2 2026, revenue is guided to be between $22.0 million and $26.0 million, with Non-GAAP adjusted EBITDA expected to range from - $10.5 million to - $7.4 million. ### Related Stocks - [FTCI.US](https://longbridge.com/en/quote/FTCI.US.md) ## Related News & Research - [Hims & Hers Responds to FTC Lawsuit | HIMS Stock News](https://longbridge.com/en/news/294240928.md) - [Shein faces consumer protection probe by FTC](https://longbridge.com/en/news/294094612.md) - [Hims & Hers Stock Jumps on Vow to 'Vigorously' Defend Against FTC's 'Baseless Claims'](https://longbridge.com/en/news/294379271.md) - [TIMELINE-Shein faces probes, tariffs as it seeks Hong Kong IPO](https://longbridge.com/en/news/294811180.md) - [FTC Sues Hims & Hers Over Alleged Privacy And Billing Violation](https://longbridge.com/en/news/294419877.md)