Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 299

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 299
---
INDEX TO FINANCIAL STATEMENTS

    Page

    Audited Consolidated Financial Statements

    Report of Independent Registered Public Accounting Firm (PCAOB ID 243)
    59

    Consolidated Balance Sheets
    60

    Consolidated Statements of Comprehensive Loss
    61

    Consolidated Statements of Changes in Stockholders' Equity
    62

    Consolidated Statements of Cash Flows
    63

    Notes to Consolidated Financial Statements
    64

    Note 1.   Description of business
    64

    Note 2.   Summary of significant accounting policies
    64

    Note 3.   Sale of Atlas software platform
    74

    Note 4.   Reductions in force
    74

    Note 5.   Accounts receivable, net
    75

    Note 6.   Inventories, 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

Table of Contents

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