Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 202

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 202
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ories, net
    76

    Note 7.   Prepaid and other current assets
    76

    Note 8.   Leases
    76

    Note 9.   Property and equipment, net
    77

    Note 10. Intangible assets, net and goodwill
    78

    Note 11. Equity method investment
    78

    Note 12. Accrued expenses and other current liabilities
    79

    Note 13. Income taxes
    80

    Note 14. Debt
    82

    Note 15. Commitments and contingencies
    83

    Note 16. Stockholders' equity
    84

    Note 17. Stock compensation and other employee benefit plans
    85

    Note 18. Related party transactions
    88

    Note 19. Net loss per share
    90

    Note 20. Fair value measurements
    90

    Note 21. Sale of investment in unconsolidated subsidiary
    90

    Note 22. Segment information and certain concentrations
    91

    Note 23. Subsequent events
    93

58

Report of Independent Registered Public Accounting Firm

Shareholders and Board of Directors

FTC Solar, Inc.

Austin, Texas

Opinion on the Consolidated Financial StatementsWe have audited the accompanying consolidated balance sheets of FTC Solar, Inc. (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of comprehensive loss, changes in stockholders' equity, and cash flows for each of the years then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.Going Concern UncertaintyThe accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has suffered recurring losses from operations and has cash outflows from operations that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in