Ftc Solar, Inc. - FTCI STOCK NEWS

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.

FTC Solar, Inc. (Nasdaq: FTCI) has announced that a major shareholder and director will receive a limited waiver from their lock-up agreement, allowing them to pledge common stock as collateral for a margin loan. This waiver takes effect on August 10, 2021, but does not allow for the sale of shares until the lock-up period ends. FTC Solar, founded in 2017, specializes in solar tracker systems that optimize solar energy production, providing an installation cost advantage.

FTC Solar, Inc. (Nasdaq: FTCI) will announce its second quarter 2021 financial results on August 11, 2021, before market opening. A conference call is scheduled for 8:30 a.m. E.T. to discuss these results, along with the company's outlook and other business matters. The call will be webcast and can be accessed on FTC Solar's Investor Relations website. Founded in 2017, FTC Solar specializes in solar tracker systems, software, and engineering services, enhancing solar energy production through optimized panel orientation.

FTC Solar, Inc. (Nasdaq: FTCI) announced a net payout of approximately $22 million from selling its minority investment in Dimension Energy, LLC, with a potential additional $14 million based on performance milestones. FTC Solar invested $4 million in 2018 and received $2.1 million in dividends prior to the sale, which closed on June 24, 2021. This transaction strengthens FTC Solar's balance sheet and simplifies financial reporting, positioning the company for enhanced shareholder value.

FTC Solar reported a 103% increase in first quarter revenue to $65.7 million compared to Q1 2020. The company secured its first sales of the new SunPath software and added $280 million to its contract backlog. Despite revenue growth, FTC Solar reported a net loss of $7.4 million, or ($0.11) per share. The impact of rising costs for steel and shipping is a concern, with expected revenue for the second quarter between $41 million and $46 million. The company remains optimistic about growth in the second half of 2021.

FTC Solar (Nasdaq: FTCI) announced it will release its Q1 2021 financial results on June 8, 2021, before market opening. A conference call is scheduled for 8:30 a.m. E.T. on the same day to discuss these results and the business outlook. CEO Anthony Etnyre acknowledged rising commodity and logistics costs impacting the company, particularly steel, but noted manageable effects for Q1 2021. The company raised $181 million in its IPO and established a $100 million revolver, positioning itself for growth despite market challenges.