FTC Solar Reaffirms 2022 Financial Outlook; Announces Earnings Date and Upcoming Conference Participation
FTC Solar (NASDAQ: FTCI) announced it will release its fourth quarter and full year 2021 financial results on March 15, 2022. The company reaffirmed its 2022 financial outlook, projecting revenue growth exceeding market averages and a move towards profitability. The expected 2022 revenue is estimated between $415 million and $460 million, with a non-GAAP gross margin of 11%-14%. The outlook hinges on improved module availability and minimal supply chain disruptions.
- Projected 2022 revenue growth exceeding market averages.
- Estimates range for revenue in 2022: $415 to $460 million.
- Non-GAAP gross margin expectations of 11%-14%.
- Profitability transition for 2022 not guaranteed, dependent on external factors.
AUSTIN, Texas, March 02, 2022 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a fast-growing global provider of solar tracker systems, software and engineering services, today announced that it will release fourth quarter and full year 2021 financial results before market open on Tuesday, March 15, 2022. The company also reaffirmed its financial outlook for 2022 and announced its participation in upcoming investor conferences.
2022 Outlook
FTC Solar’s targets for full year 2022 remain unchanged from its prior guidance of January 18, 2022. The company believes this outlook would result in revenue growth that is faster than the overall market, while transitioning into profitability during the year. As discussed previously, the company’s 2022 outlook assumes an improvement in regulatory pressures on module availability as well as no significant supply chain disruptions due to COVID-19, and the company continues to closely monitor these impacts.
| (in millions) | FY 2022 Guidance |
| Revenue | |
| Non-GAAP Gross Margin | |
| Non-GAAP operating expenses | |
| Non-GAAP adjusted EBITDA |
Fourth Quarter Earnings Call
FTC Solar will release fourth quarter and full year 2021 earnings results before market open on Tuesday, March 15, 2022. The live webcast of the conference call will be available on the investor relations section of the FTC Solar website at investor.ftcsolar.com. Following completion of the call, a recording of the webcast will be available on the website for 30 days.
Upcoming Investor Conferences
FTC Solar’s Chief Executive Officer Sean Hunkler and Chief Financial Officer Patrick Cook are scheduled to participate in meetings with investors at the following upcoming conferences:
Bank of America Power, Utilities & Clean Energy Leaders Conference – March 3, 2022, virtual.
Raymond James Institutional Investors Conference – March 8, 2022 in Orlando.
Mr. Hunkler is scheduled to present at the conference beginning at 4:00 p.m. Eastern Time. A live webcast and replay of this presentation will be accessible from the Events section of FTC Solar’s website at www.ftcsolar.com.
Piper Sandler Energy Conference – March 22, 2022 in Las Vegas.
About FTC Solar Inc.
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a fast-growing, global provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.
Forward-Looking Statements
This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. You should not rely on our forward-looking statements as predictions of future events, as actual results may differ materially from those in the forward-looking statements because of several factors, including those described in more detail in our filings with the U.S. Securities and Exchange Commission, including the section entitled “Risk Factors” contained therein. FTC Solar undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.
Source: FTC Solar, Inc.
FTC Solar Investor Contact:
Bill Michalek
Vice President, Investor Relations
FTC Solar
T: (737) 241-8618
E: IR@FTCSolar.com
FTC Solar Media Contact:
Scott Deitz
On behalf of FTC Solar
T: (336) 908-7759
FAQ
When will FTC Solar announce its fourth-quarter earnings for 2021?
What is FTC Solar's revenue guidance for 2022?
What is the expected gross margin for FTC Solar in 2022?
What external factors could impact FTC Solar's 2022 financial outlook?
