Ftc Solar, Inc. · NASDAQ:FTCI
Ftc Solar — Q3 2021 Earnings Presentation
13 slides from Ftc Solar's earnings presentation, Nov 10, 2021
Slide 1: Third Quarter 2021 Earnings Results
November 10, 2021 Third Quarter 2021 Earnings Results
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures 2 This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this presentation, including statements regarding the Company’s
Slide 3: Third Quarter & Recent Highlights
Third Quarter & Recent Highlights 3 3Q revenue growth 6% q/q, 9mo. revenue up 18% y/y; Adjusted EBITDA toward high-end of guidance range Added $752 million to executed contracts and awarded orders YTD*, including $267 million since August 1 Announced 1.7GW tracker supply agreement with leading proje
Slide 4: Solar Input Pricing
Solar Input Pricing 4 • Steel pricing remains elevated • Global logistics environment has worsened, with freight near record levels • Module pricing and availability concerns Steel Freight Hot Rolled Coil by Export Port Baltic Index China/East Asia – NAMR East Coast $/Ton Chart Title $/Container Rea
Slide 5: Q3 Financial Performance
Q3 Financial Performance 5 (in thousands, except per share data and percentages) See reconciliations of all non-GAAP to GAAP measures in the appendix to this presentation.
Slide 6: Outlook
Outlook 6 Fourth Quarter $ mil. 3Q’21 Actual 4Q’21 Guidance Revenue $53.0 $70.0- $80.0 Non-GAAP Operating Expenses $8.4 $9.0 - $10.0 Adjusted EBITDA ($16.1) ($12.5 – $16.5) Fourth Quarter • Expect significant increase in revenue relative to third quarter ~30%-50%. • Anticipated logistics impact to f
Slide 7: Q&A
Q&A
Slide 8: Appendix
Appendix
Slide 9: Reconciliation of Non-GAAP Gross Margin and Operating Expense
Reconciliation of Non-GAAP Gross Margin and Operating Expense 9
Slide 10: Reconciliation of Non-GAAP Operating Loss
Reconciliation of Non-GAAP Operating Loss 10
Slide 11: Reconciliation of Net Loss to Adjusted EBITDA
Reconciliation of Net Loss to Adjusted EBITDA 11
Slide 12: Reconciliation of Non-GAAP Net Loss
Reconciliation of Non-GAAP Net Loss 12
Slide 13: Notes to Reconciliations of Non-GAAP Financial Measures
Notes to Reconciliations of Non-GAAP Financial Measures 13 Notes to Reconciliations of Non-GAAP Financial Measures to Nearest Comparable GAAP Measures We present Adjusted EBITDA, Adjusted Non-GAAP Net Loss and Adjusted EPS as supplemental measures of our performance. We define Adjusted EBITDA as net