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FTC Solar FTCI Gross margin

Gross margin at other companies

Array Technologies, Inc. logo
Array Technologies, Inc.ARRY
23.7%-6.3pp
Nextpower Inc.
 logo
Nextpower Inc. NXT
32.6%-1.5pp
Shoals Technologies Group, Inc. logo
Shoals Technologies Group, Inc.SHLS
33.5%-0.9pp
SolarEdge Technologies logo
SolarEdge TechnologiesSEDG
19.4%+10.6pp
Stem logo
StemSTEM
39.5%+23.8pp
First Solar logo
First SolarFSLR
41.7%-1.9pp

Other financials

Income statement

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Revenue$17.3M-17.0%
Gross profit-$1.2M+64.4%
Operating income-$12.1M-14.2%
Net income$32.6M+954%
EPS (diluted)-$0.72-24.1%

Balance sheet

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Cash & equivalents$5.6M-4.6%
Total debt$23.4M+110%
Total equity-$6.1M-140%
Total assets$97.8M+16.4%

Cash flow

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Operating cash flow-$12.8M-50.6%
CapEx$276.0K+233%
Free cash flow-$13.0M-52.3%

Valuation

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Market cap$81.31M+38.1%
Enterprise value$99.09M+47.5%
P/S0.9×-0.1×

Profitability

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Operating margin-38.4%-14.1pp
Net margin-44.9%-13.5pp
FCF margin-40.6%-9.6pp

Returns & leverage

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Return on equity-175.8%-1,003pp
Debt / equity1.3×+1.3×
Current ratio1.3×-0.1×

Where this comes from

Calculated from FTC Solar’s reported figures.

Based on trailing twelve months.

The official record: FTC Solar’s 10-Q, filed November 12, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is FTC Solar's gross margin?
FTC Solar (FTCI) reported gross margin of -12% in Q3 2025.
How has FTC Solar's gross margin changed year-over-year?
FTC Solar's gross margin increased by 14.6% year-over-year, from -14.1% to -12%.
What is the long-term trend for FTC Solar's gross margin?
Over 3 years (2021 to 2024), FTC Solar's gross margin has grown at a 30.3% compound annual growth rate (CAGR), from -12% to -26.6%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.