FTC Solar, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 06:41 am EST
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FTC Solar, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 30.55 million compared to USD 16.57 million a year ago. Net loss was USD 16.94 million compared to USD 25.64 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to USD 0.25 a year ago.
For the nine months, revenue was USD 103.8 million compared to USD 96.85 million a year ago. Net loss was USD 39.11 million compared to USD 79.11 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.79 a year ago.
FTC Solar, Inc. is a provider of solar tracker systems, technology, software, and engineering services. It offers trackers and software solutions targeting the utility-scale solar energy markets to customers in the United States, Asia, Europe, the Middle East, North Africa, South Africa and Australia. It is engaged in the sale of solar tracker systems and customized components for those systems, individual part sales for certain specific transactions and the sale of term-based software licenses. Its tracker system is marketed under the Voyager brand name (Voyager), which is built upon a self-powered, two-panel in- portrait (2P) single-axis tracker design utilizing a 60-meter independent row architecture. In addition, its Pioneer 1P solar tracker solution leverages the technological advantages of Voyager. It also offers shipping and handling services, engineering consulting and pile testing services, subscription-based enterprise licensing and maintenance and support services.
FTC SOLAR, INC. 
