Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 209

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 209
---
 $
    11,247

    $
    25,235

    Supplemental disclosures of cash flow information:

    Purchases of property and equipment included in ending accounts payable and accruals
     
    $
    51

    $
    166

    Stock issued for accrued legal settlement
     
    $
    —

    $
    2,000

    Right-of-use asset and lease liability recognition for new leases
     
    $
    500

    $
    1,417

    Paid-in-kind non-cash interest added to Senior Notes principal
     
    $
    146

    $
    —

    Cash paid during the period for interest
     
    $
    222

    $
    576

    Cash paid during the period for taxes, net of refunds
     
    $
    133

    $
    177

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

63

FTC Solar, Inc.

Notes to Consolidated Financial Statements

December 31, 2024

Note 1. Description of businessFTC Solar, Inc. (the “Company”, “we”, “our”, or “us”) was founded in 2017 and is incorporated in the state of Delaware. In April 2021, we completed an initial public offering ("IPO"), and our common stock currently trades on the Nasdaq Capital Market ("Nasdaq") under the symbol “FTCI”.We are a global provider of solar tracker systems, supported by proprietary software and value-added engineering services. Solar tracker systems move solar panels throughout the day to maintain an optimal orientation relative to the sun, thereby increasing the amount of solar energy produced at a solar installation. Our original two modules-in-portrait ("2P") solar tracker system is marketed under the Voyager brand name (“Voyager”) and our one module-in-portrait ("1P") solar tracker system is marketed under the Pioneer brand name ("Pioneer"). We also have a mounting solution to support the installation and use of U.S.-manufactured thin-film modules. Our primary software offerings include SUNPATH which helps customers optimize solar tracking for increased energy production and our SUNOPS real-time operations management platform. In addition, we have a team of renewable energy professionals available to assist our U.S. and worldwide clients in site layout, structural design, pile testing and other needs across the solar project development and construction cycle. Our products and services provide tracker solutions for large utility-scale solar and distributed generation projects