Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 110

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 110
---
 89,928

    $
    123,070

___________

    * -
    Prior year shares and amounts, as applicable, have been revised to reflect the Reverse Stock Split, effective November 29, 2024.

The accompanying notes are an integral part of these consolidated financial statements.

60

FTC Solar, Inc.

Consolidated Statements of Comprehensive Loss

    Year ended December 31,

    (in thousands, except shares and per share data)
     
    2024

    2023

    Revenue:

    Product
     
    $
    37,520

    $
    101,872

    Service

    9,835

    25,130

    Total revenue

    47,355

    127,002

    Cost of revenue:

    Product

    48,185

    93,314

    Service

    11,764

    25,381

    Total cost of revenue

    59,949

    118,695

    Gross profit (loss)

    (12,594
    )

    8,307

    Operating expenses

    Research and development

    5,915

    7,166

    Selling and marketing

    8,881

    14,811

    General and administrative

    25,440

    37,107

    Total operating expenses

    40,236

    59,084

    Loss from operations

    (52,830
    )

    (50,777
    )

    Interest expense, net

    (319
    )

    (253
    )

    Gain from disposal of investment in unconsolidated subsidiary

    8,807

    1,319

    Gain on sale of Atlas

    906

    —

    Loss from change in fair value of warrant liability

    (4,322
    )

    —

    Other income (expense), net

    468

    (257
    )

    Loss from unconsolidated subsidiary

    (1,086
    )

    (660
    )

    Loss before income taxes

    (48,376
    )

    (50,628
    )

    (Provision for) benefit from income taxes

    (230
    )

    338

    Net loss

    (48,606
    )

    (50,290
    )

    Other comprehensive