Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 247

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 247
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 Priddy, Jr., a member of our Board of Directors and Chairman of the Audit Committee of the Board. These RSU grants vested upon the one-year anniversary of the date of grant.Information relating to acquisitions of shares from founders of the Company during 2020 and 2021 at no cost for inclusion in treasury stock may be found in Note 16 "Stockholders' equity" above.Related party receivables, deposits and payablesWe had related party receivables at December 31, 2024 and 2023, totaling $3.1 million and $0.9 million, respectively, for future material cost discounts contractually owed to us by Alpha Steel in connection with the expected receipt of manufacturing cost reductions due to incentives available to Alpha Steel under the IRA as costs are incurred by Alpha Steel to purchase raw materials and manufacture torque tubes and other products that will be used to fulfill purchase orders we issue to Alpha Steel.We also had related party liabilities to Alpha Steel at December 31, 2024 and 2023, totaling $1.7 million and $1.5 million, respectively, for the accrued cost of revenue recognized on certain of our customer projects associated with the cost of products that are being manufactured for us by Alpha Steel. Amounts included in our accounts payable balance at December 31, 2024 relating to Alpha Steel totaled $0.5 million (none at December 31, 2023).During the year ended December 31, 2024, we made total deposits of $2.8 million to Alpha Steel, of which $2.0 million remains in our balance of vendor deposits as of December 31, 2024, as shown in Note 7 "Prepaids and other current assets" above.OtherAs described in Note 14, "Debt", above, a member of our Board of Directors, Pablo Barahona, invested $500,000 in the entity that purchased $15.0 million principal amount of our Senior Notes.

89

Note 19. Net loss per share

        Year ended December 31,

        2024

        2023

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

        Weighted average shares outstanding for calculating basic and diluted loss per share(*)

        12,675,923

        11,554,615

        Basic and diluted loss per share(*)
         
        $
        (