Overview

* FTC Solar ( FTCI ) Q2 revenue rises 74.9% y/y but misses analyst expectations

* Adjusted EPS for Q2 misses estimates, reflecting ongoing financial challenges

* Co secures $75 mln strategic financing facility, enhancing financial stability

Outlook

* Company expects Q3 revenue to rise approximately 5% from Q2

* FTC Solar ( FTCI ) anticipates significant revenue ramp in Q4

* Company sees Q3 revenue between $18 mln and $24 mln

* Introduction of extra-long tracker for 2,000-volt systems to reduce costs

Result Drivers

* COST EFFICIENCIES - Operating expenses reduced to multi-year low, contributing to improved financial position

* HIGHER PRODUCT VOLUMES - Revenue growth of 74.9% y/y driven by increased product volumes

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $19.99 $21.10

Revenue mln mln (3

Analysts

)

Q2 Miss -$0.86 -$0.72

Adjusted (3

EPS Analysts

)

Q2 Miss -$11.21 -$9.76

Adjusted mln mln (3

Net Analysts

Income )

Q2 Beat -$10.36 -$11.90

Adjusted mln mln (2

Income Analysts

From )

Operatio

ns

Q2 -17.4%

Adjusted

Gross

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electrical components & equipment peer group is "buy"

* Wall Street's median 12-month price target for FTC Solar Inc ( FTCI ) is $4.40, about 50.2% below its August 4 closing price of $6.61

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)