Record Revenue Growth
Third quarter revenue was up 160% year-over-year, reaching the highest quarterly revenue level in eight quarters.
Improved Adjusted EBITDA
Adjusted EBITDA hit the highest levels in five years, reflecting recovery and growth in company performance.
Positive Gross Margin
For the first time since late 2023, FTC Solar achieved a positive non-GAAP gross margin of 7.7%.
Strategic Acquisition
FTC Solar acquired a 55% interest in Alpha Steel, enhancing their domestic content capability and expected to be accretive to adjusted EBITDA.
Innovative Product Development
Introduced new products such as the washerless tracker and 1P Pioneer tracker, which are designed for faster installation and efficiency.
Strong Outlook
Guidance for Q4 includes revenue between $30 million and $35 million, representing a 25% sequential growth.