FTC Solar, Inc. - FTCI STOCK NEWS

FTC Solar, Inc. (Nasdaq: FTCI) announced that CEO Sean Hunkler and CFO Patrick Cook will meet with investors at upcoming conferences. Hunkler will present at the Nasdaq Investor Conference on December 1, 2021, at 11:00 a.m. ET, with a live webcast available on FTC Solar’s website. Additionally, they will attend the Capital One Securities Annual Energy Conference on December 7, 2021. Founded in 2017, FTC Solar specializes in solar tracker systems that enhance energy production by optimizing panel orientation.

FTC Solar reported third-quarter revenue of $53.0 million, reflecting a 5.8% increase quarter-over-quarter but a decrease of 11% year-over-year. Nine-month revenue surged by 18% year-over-year. The company added contracts totaling $752 million YTD and announced a significant 1.7GW supply transaction. CEO Sean Hunkler noted strong long-term prospects despite project delays impacting Q4 revenue outlook, which has adjusted to $70.0-$80.0 million. Adjusted EBITDA loss was $16.1 million, with improved operating expenses attributed to cost controls.

FTC Solar has been awarded a substantial project in Arizona to provide its Voyager tracker for a 504 megawatts DC solar plus storage facility. The project, contracted by Moss Solar and a Tier 1 U.S. Developer, will also include 260 megawatts AC of energy storage, representing a significant capital investment in the region. Scheduled to begin operations in 2023, this innovative project aims to optimize energy capture while reducing installation costs. FTC Solar continues to grow as a leader in solar technology.

FTC Solar, Inc. (NASDAQ: FTCI) has announced its first project in Africa, located at Botswana University of Agriculture and Natural Resources (BUAN). The agrivoltaic project, utilizing FTC's Voyager+ tracker, will generate approximately 1MW of solar power starting early 2022. Collaborating with AAAS Energy and Soventix, the initiative aims to address climate resilience and energy needs while supporting agricultural research. The African solar market is forecasted to grow significantly, with over 100 gigawatts expected by 2030, representing a substantial market opportunity for FTC Solar.

FTC Solar, Inc. (Nasdaq: FTCI) is set to report its third quarter 2021 financial results before market open on November 10, 2021. An investor conference call will follow at 8:30 a.m. E.T. to discuss results and outlook. The call will be available via webcast on the company's Investor Relations website, with a replay accessible for 30 days post-webcast. FTC Solar, founded in 2017, specializes in solar tracker systems that optimize solar panel orientation for increased energy production.

FTC Solar has launched the Voyager+, a new 2P-design solar tracker, enhancing energy capture and reducing installation equipment needs. This tracker supports large-format modules of 550 watts and higher and boasts 46% fewer foundation piles, increasing energy density by nearly 2% compared to 1P models. With over 1GW of Voyager+ systems installed or contracted in the South Central US, the company emphasizes its robust design validated through collaboration with RWDI and Engineered Power Solutions. This tracker withstands winds up to 120 mph, positioning FTC Solar as a key player in utility-scale solar projects.

FTC Solar, Inc. announces the appointment of Sean Hunkler as President and CEO, effective September 24, 2021, following the resignation of Tony Etnyre. Hunkler brings extensive experience from leadership roles at Western Digital and NXP Semiconductors. The transition occurs amid unprecedented growth for FTC Solar, driven by increased demand for its solar tracker systems. Hunkler aims to leverage FTC Solar's strong foundation for further scaling and operational excellence while Etnyre will support the company through the transition until 2022.

AUSTIN, Texas, Sept. 08, 2021 — FTC Solar, a global provider of solar tracker systems, announces its CEO Tony Etnyre and CFO Patrick Cook will meet with investors at two upcoming conferences. Barclays CEO Energy-Power Virtual Conference is on September 9, starting at 10:20 a.m. Eastern Time, with a live webcast available on FTC Solar's website. The UBS Global Energy Transition Virtual Conference will follow on September 14-15. Founded in 2017, FTC Solar specializes in optimizing solar energy production with innovative tracker systems.

FTC Solar (NASDAQ: FTCI) reported Q2 2021 revenue of $50.1 million, a slight decline of 2% year-over-year, but above guidance. Year-to-date revenue reached 39% growth. The company added $419 million in executed contracts and awarded orders. Despite challenges from logistics costs, FTC Solar’s non-GAAP net loss was within guidance, totaling $17 million. For H2 2021, FTCI anticipates revenue growth driven by strong demand and innovative shipping methods, targeting significant profitability progress in Q4.