Overview

* FTC Solar ( FTCI ) Q3 revenue rises 156.8% y/y, beating analyst expectations

* Adjusted EPS beats estimates, reflecting improved operational performance

* Company secures $75 mln strategic financing facility, closes on $37.5 mln

Outlook

* FTC Solar ( FTCI ) expects Q4 revenue to rise approximately 25% at mid-point from Q3

* Company projects Q4 non-GAAP gross profit between $3.8 mln and $8.2 mln

* FTC Solar ( FTCI ) anticipates Q4 adjusted EBITDA between $(5.4) mln and $0.0 mln

Result Drivers

* REVENUE GROWTH - Co attributes 156.8% y/y revenue increase to enhanced product offerings and customer traction

* GROSS MARGIN IMPROVEMENT - Co reports significant q/q and y/y gross margin improvement, returning to positive territory

* STRATEGIC FINANCING - Co secured $75 mln financing facility, closed on $37.5 mln, supporting future growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $26.03 $21.10

Revenue mln mln (3

Analysts

)

Q3 Beat -$0.36 -$0.56

Adjusted (3

EPS Analysts

)

Q3 Beat -$5.32 -$7.25

Adjusted mln mln (3

Net Analysts

Income )

Q3 Beat -$3.96 -$9.51

Adjusted mln mln (2

Income Analysts

From )

Operatio

ns

Q3 7.70%

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 $5.50, about 35.3% below its November 11 closing price of $7.44

Press Release:

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(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.)