FTC Solar (FTCI)
Supplies solar trackers, software, and engineering for utility-scale projects.
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Supplies tracker systems, software, and engineering services for utility-scale and distributed-generation solar projects. Product and service revenue span Voyager and Pioneer hardware, software licenses, and project support.
Tracker and software systems serve utility-scale solar and distributed-generation projects, sold mainly to EPC contractors and also to developers and owners. Voyager is its two-modules-in-portrait single-axis tracker, while Pioneer is its one-module-in-portrait system. A mounting solution also serves U.S.-manufactured thin-film modules.
SUNOPS helps operators identify and resolve tracker underperformance, while SUNPATH adjusts tracking angles for terrain, shading, and cloud conditions. Site layout, structural design, pile testing, and related engineering services accompany hardware and software sales.
Operating as one reportable segment, the business earns product revenue from tracker systems, components, parts, and term software licenses, plus service revenue from engineering, licensing, maintenance, and support. International subsidiaries include Australia, China, India, South Africa, and Spain, and manufacturing capacity still depends on partners despite domestic component capability added through Alpha Steel.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | UBS | Upgrade | Target: $10 | Target: $3.60 |
| Aug 12, 2026 | Roth Capital | Reiterate | Rating: —Target: $10 | Target: $7 |
| Mar 9, 2026 | Roth Capital | Target | Target: $15 | Target: $10 |
| Jan 7, 2026 | H.C. Wainwright | Target | Target: — | Target: $20 |
| Dec 2, 2025 | UBS | Reiterate | Rating: —Target: $0.50 | Target: $10 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $10.1M · Total debt $24.3M · Total assets $98.1M · Shareholders' equity −$30.3M
- Revenue
- $26.2M
- Operating income
- −$13.7M
- Net income
- −$27.1M
No dividends on record.
| Institutions | 8.70% | 1.43M shares | |
|---|---|---|---|
| 37 holders · as of Jun 30, 2026 | |||
| Insiders | 20.48% | 3.37M shares | |
| 12 holders · as of Sep 1, 2026 | |||
| Strategic holders | 7.13% | 1.17M shares | |
| 1 holder · as of Feb 14, 2025 | |||
| Other | 63.69% | 10.48M shares | |
| remainder | |||
16.46M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
ARC Family TrustStrategic10 percent owner | 7.13% | 1.17M | filed Feb 14, 2025 |
David SpringerInsiderdirector | 5.04% | 830,158 | filed Feb 13, 2026 |
Yann BrandtInsiderdirector, officer: Chief Executive Officer | 4.72% | 776,425 | filed Dec 31, 2025 |
Anthony CarrollInsiderdirector, officer: Chief Executive Officer | 4.05% | 666,200 | filed Aug 26, 2026 |
Vanguard Capital Management LLCInstitution | 2.73% | 449,372 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 28, 2026 | Shaker Sadasivam | director | +101,083 | $2.69 |
| Aug 27, 2026 | Shaker Sadasivam | director | +39,583 | $2.35 |
| Aug 26, 2026 | Shaker Sadasivam | director | +33,290 | $2.19 |
| Aug 25, 2026 | Anthony Carroll | director, officer: Chief Executive Officer | +24,745 | $2.08 |
| May 7, 2026 | Antonio R. Alvarez | director | +2,500 | $4.23 |
- Nextpower
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- Array Technologies
Solar tracker, fixed-tilt, foundation, software, and service supplier.
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| FTC Solar | $2.78 | +5.70% | $37.5M | — | — | 0.4 | +30.8% |
| Nextpower | $83.00 | +0.56% | $12.61B | 21.5 | 17.2 | 3.5 | +8.2% |
| Array Technologies | $3.99 | +0.63% | $626.1M | — | 5.0 | 0.5 | −5.6% |
| Median | 21.5 | 11.1 | 2.0 | +1.3% |