Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 112

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 112
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 the Reverse Stock Split, effective November 29, 2024.

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

62

FTC Solar, Inc.

Consolidated Statements of Cash Flows

    Year ended December 31,

    (in thousands)
     
    2024

    2023

    Cash flows from operating activities

    Net loss
     
    $
    (48,606
    )
     
    $
    (50,290
    )

    Adjustments to reconcile net loss to cash used in operating activities:

    Stock-based compensation

    5,412

    8,295

    Depreciation and amortization

    1,671

    1,375

    Loss from change in fair value of warrant liability

    4,322

    —

    Gain from sale of property and equipment

    —

    (2
    )

    Amortization of debt discount and issue costs

    296

    709

    Paid-in-kind non-cash interest

    146

    —

    Provision for obsolete and slow-moving inventory

    177

    706

    Loss from unconsolidated subsidiary

    1,086

    660

    Gain from disposal of investment in unconsolidated subsidiary

    (8,807
    )

    (1,319
    )

    Gain on sale of Atlas

    (906
    )

    —

    Warranties issued and remediation added

    7,204

    4,310

    Warranty recoverable from manufacturer

    558

    90

    Credit loss provisions

    2,072

    7,373

    Deferred income taxes

    83

    138

    Lease expense and other

    1,123

    996

    Impact on cash from changes in operating assets and liabilities:

    Accounts receivable

    23,498

    (23,600
    )

    Inventories

    (6,416
    )

    10,338

    Prepaid and other current assets

    (934
    )

    (3,681
    )

    Other assets

    (376
    )

    383

    Accounts payable

    4,963

    (7,960
    )

    Accruals and other current liabilities

    (19,292
    )

    10