FTC Solar Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $32.8 million, up 25.4% sequentially and 26.1% year over year
- ➤Q4 revenue guidance $44.0-$52.0 million, implying approximately 46% sequential growth midpoint
- ➤Contracted backlog approximately $640 million
- ➤Adjusted EBITDA loss narrowed to $5.2 million from $9.8 million sequentially
- ➤New awards include 750MW North American project and 118MW Tata Power Solar project
Expert Statements
Anthony Carroll, CEO of FTC Solar
“We delivered a strong quarter with revenue up 25% sequentially and margins ahead of our targets.”
Anthony Carroll, CEO of FTC Solar
“We expect continued significant growth in the fourth quarter with a path to EBITDA profitability in the first quarter of next year.”
Anthony Carroll, CEO of FTC Solar
“With significant new awards and growing momentum across North America, India, Australia, and Europe and with AI and robotics enhancing our current and future productivity, we’re well positioned for a strong 2027.”
Anthony Carroll, CEO of FTC Solar
“Additionally, we obtained independent validation from DNV that our tracker installs in an industry-leading 81 labor hours per megawatt, confirming what customers are telling us: speed in the field is a winning competitive advantage.”
* Third quarter revenue up 25% q/q; profitability metrics within, or better than, target ranges * Significant new project wins across multiple geographies with several new customers, including Tata Power Solar and Evren, platform backed by Brookfield * Targeting 46% sequential revenue growth in fourth quarter at mid-point * Expect continued strong growth and Adjusted EBITDA profitability in 2027 on strength of pipeline AUSTIN, Texas, Nov. 04, 2026 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, today announced financial results for the third quarter ended September 30, 2026.
“We delivered a strong quarter with revenue up 25% sequentially and margins ahead of our targets,” said Anthony Carroll, CEO of FTC Solar. “We expect continued significant growth in the fourth quarter with a path to EBITDA profitability in the first quarter of next year. With significant new awards and growing momentum across North America, India, Australia, and Europe and with AI and robotics enhancing our current and future productivity, we’re well positioned for a strong 2027. Additionally, we obtained independent validation from DNV that our tracker installs in an industry-leading 81 labor hours per megawatt, confirming what customers are telling us: speed in the field is a winning competitive advantage.”
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