Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 305

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 305
---
 6,262

    (397
    )

    Cash flows from financing activities:

    Proceeds from borrowings

    14,550

    —

    Sale of common stock

    —

    34,007

    Stock offering costs paid

    —

    (283
    )

    Financing costs paid

    (60
    )

    —

    Proceeds from stock option exercises

    8

    226

    Net cash provided by financing activities

    14,498

    33,950

    Effect of exchange rate changes on cash and cash equivalents

    (49
    )

    (47
    )

    Decrease in cash and cash equivalents

    (13,988
    )

    (19,150
    )

    Cash and cash equivalents at beginning of period

    25,235

    44,385

    Cash and cash equivalents at end of period
     
    $
    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