Ftc Solar, Inc. · NASDAQ:FTCI
Ftc Solar — Q2 2025 Earnings Presentation
12 slides from Ftc Solar's earnings presentation, Aug 5, 2025
Slide 1: Second Quarter 2025 Earnings Results
August 5, 2025 Second Quarter 2025 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. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words
Slide 3: Introduction
Introduction 3 • Highly constructible tracker. Fewer parts, better features, no special tools, installs faster. Video: www.ftcsolar.com/safe-harbor/ • 2Q results in-line with targets, adjusted EBITDA at high-end • $75 million financing facility announced July 2 • Active regulatory environment slowed
Slide 4: 1P Product Line Enhancements
1P Product Line Enhancements 4 • High wind offerings extend up to 150mph SunPath • Module compatibility across module vendors and types • Late-stage module flexibility, ‘universal’ TT, Python Clips • Up to 80 degree stow angle, integration with SunOps • 2,000-volt tracker Before After • Terrain foll
Slide 5: Q2 Financial Performance
Q2 Financial Performance 5 Revenue growth and margin Non-GAAP Operating Expense 8.3 8.1 Q/Q Y/Y 7.4 6.6 6.5 Non-GAAP Non-GAAP Revenue Gross Margin Revenue Gross Lo Margin down 4% down 300bps up 75% down 60bps Or up 1,700bps excluding Or up 1,940bps excluding $4 million accrual $4 million accrual 2Q'
Slide 6: Outlook
Outlook 6 3Q’25 Guidance Revenue ($M) $18.0-$24.0 Non-GAAP Gross Profit ($M) $(2.4)-$0.6 Non-GAAP Gross Margin (%) (13.4%)-2.5% Non-GAAP OpEx ($M) $7.2-$7.9 Adjusted EBITDA ($M) $(10.8)-$(6.8) • Revenue up 5% sequentially from 2Q at midpoint • Continue to expect a significant ramp in revenue in the
Slide 7: Q&A
Q&A
Slide 8: Appendix
Appendix
Slide 9: Reconciliation of Non-GAAP Gross Margin and Operating Expenses
Reconciliation of Non-GAAP Gross Margin and Operating Expenses 9 The following table reconciles U.S. GAAP gross margin to Non-GAAP gross margin for the three months ended June 30, 2025, and 2024, respectively: Thre e months e nde d June 30, (in thousands, e xce pt pe rce ntage s) 2025 2024 U.S. GAAP
Slide 10: Reconciliation of Non-GAAP Loss from Operations
Reconciliation of Non-GAAP Loss from Operations 10 The following table reconciles U.S. GAAP loss from operations to Adjusted EBITDA for the three months ended June 30, 2025, and 2024, respectively: Thre e months e nde d June 30, (in thousands) 2025 2024 U.S. GAAP loss from operations $ (11,499) $ (1
Slide 11: Reconciliation of Net Loss to Adjusted EBITDA and Adjusted Net Loss
Reconciliation of Net Loss to Adjusted EBITDA and Adjusted Net Loss 11 The following table reconciles U.S. GAAP Net loss to Adjusted EBITDA and Adjusted Net Loss for the three months ended June 30, 2025, and 2024, respectively: Thre e months e nde d June 30, 2025 2024 (in thousands, e xce pt share s
Slide 12: Notes to Reconciliations of Non-GAAP Financial Measures
Notes to Reconciliations of Non-GAAP Financial Measures 12 Notes to Reconciliations of Non-GAAP Financial Measures to Nearest Comparable GAAP Measures We utilize Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS as supplemental measures of our performance. We define Adjusted EBITDA as net loss pl