Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 103

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 103
---
 8,295

    8,295

    Gain from disposal of investment in unconsolidated subsidiary(a)

    (8,807
    )

    (8,807
    )

    (1,319
    )

    (1,319
    )

    Loss from change in fair value of warrant liability(b)

    4,322

    4,322

    —

    —

    CEO transition(c)

    1,423

    1,423

    —

    —

    Non-routine legal fees(d)

    66

    66

    214

    214

    Reverse stock split(e)

    212

    212

    —

    —

    Severance costs(f)

    638

    638

    4,422

    4,422

    Other costs(g)

    —

    —

    3,241

    3,241

    Adjusted Non-GAAP amounts
     
    $
    (43,120
    )
     
    $
    (44,509
    )
     
    $
    (34,147
    )
     
    $
    (34,186
    )

    U.S. GAAP net loss per share:

    Diluted(g)
     
    N/A

    $
    (3.83
    )
     
    N/A

    $
    (4.35
    )

    Adjusted Non-GAAP net loss per share (Adjusted EPS):

    Diluted(h)
     
    N/A

    $
    (3.51
    )
     
    N/A

    $
    (2.96
    )

    Weighted-average common shares outstanding:

    Diluted(h)
     
    N/A

    12,675,923

    N/A

    11,554,615

    (a)
    We exclude the gain from collections of contingent contractual amounts arising from the sale in 2021 of our investment in an unconsolidated subsidiary as these amounts are not considered part of our normal ongoing operations.

    (b)
    We exclude non-cash changes in the fair value of our outstanding Warrants as we do not consider such changes to impact or reflect changes in our core operating performance.

    (c)
    We incurred one-time incremental recruitment fees in connection with hiring a new CEO in August 2024. In addition, we agreed to upfront and incremental sign-on bonuses (collect