FTC Solar reported second quarter revenue of $20.0 million, a 74.9% increase year-over-year, meeting target guidance. The company achieved cost efficiencies, driving operating expenses to a multi-year low. Additionally, a $75 million strategic financing facility was secured, effective July 2, 2025. Tony Alvarez was appointed as an Independent Director as Dean Priddy retired from the Board.

Innovations in product design include an extra-long tracker for 2,000-volt systems, reducing eBOS and O&M costs while increasing power capacity by 33%. Second quarter financial performance showed revenue within target range, with a gross loss of $3.9 million, or 19.6% of revenue. GAAP net loss was $15.4 million, or $1.18 per diluted share.

FTC Solar’s contracted backlog stands at approximately $470 million. The company secured a $75 million strategic financing facility with Cleanhill Partners and affiliates. Dean Priddy retired from the Board, with Tony Alvarez appointed as an Independent Director. The company expects third-quarter revenue to be up approximately 5% compared to the second quarter.

Read more at GlobeNewswire: FTC Solar Announces Second Quarter 2025 Financial Results