FTC Solar Announces Waiver and Amendment to Credit Agreement

AUSTIN, Texas, Oct. 05, 2026 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has entered into an amended credit agreement with its lenders, relating primarily to the principal prepayment terms and the financial covenants that would have applied during the remainder of 2026.

Key terms of the amendment include the following: * Deferral of $5 million cash repayment requirement that was otherwise due September, 30, 2026 to March 31, 2027 * No financial covenants apply to the third quarter of 2026 and will not apply to the fourth quarter of 2026 * Future cash balance covenant adjusted to $15 million and will be tested starting January 4, 2027 * Removal of full-year 2026 adjusted EBITDA covenant * Introduction of first quarter 2027 adjusted EBITDA covenant of $2 million * Other financial covenants (revenue, direct margin, purchase order amounts) begin to apply at the end of the first quarter of 2027 “We’re pleased to announce this amendment, which reflects the strength of our partnership with our lenders, and the progress we continue to make as a company,” said Anthony Carroll, CEO of FTC Solar. “These adjustments provide us with greater flexibility to execute our business strategy and position the company for sustainable, long-term growth, while allowing that growth to develop organically.”