FTC Solar Names New CEO and Reports Q1 Results

Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks FTC Solar ( (FTCI) ) has provided an announcement. FTC Solar reported first-quarter 2026 results on May 5, 2026, alongside a leadership change that saw board member Anthony Carroll appointed president and CEO on April 29, 2026, succeeding Yann Brandt, who also left the board. Carroll’s employment agreement includes a $700,000 base salary, a sizeable performance-based bonus opportunity, multi-year time- and performance-based RSU grants and robust severance protections, reinforcing the board’s bet on his renewables and energy storage track record to steer the company’s next growth phase. For the quarter ended March 31, 2026, FTC Solar posted revenue of $17.3 million, down 47.5% sequentially and 17% year over year, with a GAAP gross loss of 7.1% and an adjusted EBITDA loss of $8.2 million, even as GAAP net income was boosted by a large non-cash warrant-related gain. The solar-tracker specialist highlighted a contracted backlog of about $543 million and a new U.S. award for 1 GW of trackers from a private equity-backed customer with high-profile corporate offtakers, and said it expects first-quarter revenue to be the low point of 2026 with sequential growth and roughly 40% full-year revenue growth over 2025. The most recent analyst rating on (FTCI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on FTC Solar stock, see the FTCI Stock Forecast page. Spark’s Take on FTCI Stock According to Spark, TipRanks’ AI Analyst, FTCI is a Neutral. The score is held down primarily by weak financial performance (large losses, persistent cash burn, and negative equity). Technicals also remain broadly bearish versus key moving averages. Offsetting factors come from the earnings call, which points to improving operational momentum and a sizable backlog, but near-term guidance and financing/covenant risks keep the overall score in the mid-range. To see Spark’s full report on FTCI stock, click here. More about FTC Solar FTC Solar, Inc. is a global provider of solar tracker systems, related technology, software and engineering services for utility-scale solar power installations. Its trackers dynamically optimize panel orientation to increase energy production, and the company emphasizes innovative designs that target performance, reliability and an installation cost-per-watt advantage in competitive solar markets. Founded in 2017 by renewable energy industry veterans, FTC Solar focuses on large-scale solar projects worldwide and serves developers and offtakers seeking efficient, utility-scale solar generation. The company positions itself as a cost-competitive tracker supplier within the broader clean energy infrastructure ecosystem, leveraging its engineering capabilities and software to win multi-gigawatt contracts and build a sizable contracted backlog. Average Trading Volume: 146,611 Technical Sentiment Signal: Sell Current Market Cap: $82.49M