FTC Solar, Inc. reported third-quarter revenue of $26.0 million, a 156.8% increase year-over-year, surpassing guidance. Gross margin improved significantly, and the company achieved its lowest loss from operations and best Adjusted EBITDA since 2020. They secured a $75 million strategic financing facility and closed on $37.5 million. A 1GW tracker supply agreement with Levona Renewables was also announced. The company is on a growth trajectory with strong financial performance.

The company announced a one-gigawatt tracker supply agreement with Levona Renewables, with the first project, CT Solar One, a 140-megawatt solar facility in Texas. This project, utilizing FTC Solar’s innovative tracker technology, is set to begin construction in early 2026. The company’s backlog, excluding the Levona agreement, stands at approximately $462 million.

FTC Solar closed a $75 million strategic financing facility during the quarter and acquired the remaining 55% interest in Alpha Steel, LLC. This acquisition gives the company full control over a key contributor to its domestic content capability. For the fourth quarter, the company expects revenue to be up approximately 25% compared to the third quarter, with a positive outlook for continued growth.

Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS are used as supplemental performance measures. Non-GAAP gross profit, Non-GAAP operating expenses, Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS help investors and analysts evaluate the company’s performance across reporting periods. These measures provide insights into the company’s core operating performance and effectiveness of business strategies.

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