Ftc Solar, Inc. · NASDAQ:FTCI
Ftc Solar — Q2 2021 Earnings Presentation
13 slides from Ftc Solar's earnings presentation, Aug 11, 2021
Slide 1: Second Quarter 2021 Earnings Results
August 11, 2021 Second 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: Second Quarter Highlights
Second Quarter Highlights 3 2Q revenue of $50.1 million, above high-end of guidance range. 1H revenue up 39% y/y Added $419 million to executed contracts and awarded orders YTD*, including $203 million since June 1 Continuing to win new customers, including another top 5 EPC firm Recognized first re
Slide 4: Solar Input Pricing
Solar Input Pricing 4 • Steel pricing remains elevated • Global logistics environment has continued to deteriorate Steel Freight Hot Rolled Coil by Export Port Baltic Index China/East Asia – NAMR East Coast $/Ton $/Container Last Update $2,000 $12,000 $1,800 FTC IPO Last Update $11,000 FTC IPO $1,60
Slide 5: FTC Solar's Positioning & Actions Taken
FTC Solar’s Positioning & Actions Taken 5 Balance Sheet Commodities & Logistics • Shared some logistics increase with customer • Added $181 million cash from IPO • Transitioning to alternative logistics methods in Q4 • Added $22 million from sale of minority investment • Provides customers with pric
Slide 6: Q2 Financial Performance
Q2 Financial Performance 6 (in thousands, except per share data and percentages) See reconciliations of all non-GAAP to GAAP measures in the appendix to this presentation.
Slide 7: Outlook
Outlook 7 Third Quarter $ mil. 2Q’21 Actual 3Q’21 Revenue $50.1 $56.0- $62.0 Non-GAAP Operating Expenses $8.3 $8.7 - $9.7 Adjusted EBITDA ($16.7) ($19.7 – $14.7) Fourth Quarter • Expect significant increase in revenue relative to third quarter. • With implementation of new logistics methods beginnin
Slide 8: Q&A
Q&A
Slide 9: Appendix
Appendix
Slide 10: Reconciliation of Non-GAAP Gross Margin and Operating Expense
Reconciliation of Non-GAAP Gross Margin and Operating Expense 10
Slide 11: Reconciliation of Non-GAAP Operating Income
Reconciliation of Non-GAAP Operating Income 11
Slide 12: Reconciliation of Non-GAAP Net Income
Reconciliation of Non-GAAP Net Income 12
Slide 13: Notes to Reconciliations of Non-GAAP Financial Measures
Notes to Reconciliations of Non-GAAP Financial Measures 13