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FTC Solar, Inc.

Income Statement Business | Product

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-05-22Dec-31-21Dec-05-21Dec-31-20Dec-31-19
   10-K8-K10-K8-K10-K10-K
Revenues:  
    AUSTRALIA  24.8 0.4 0.2 
    UNITED STATES  98.0 270.1 187.2 
    Other  0.2     
Total revenues   [+]123.1123.1270.5270.5187.453.1
            Revenue growth   [+]-54.5%-54.5%44.4% 252.7% 
Cost of goods sold   [+]150.3150.3303.1303.1183.755.1
Gross profit  -27.2-27.2-32.5-32.53.6-2.0
            Gross margin  -22.1%-22.1%-12.0%-12.0%1.9%-3.7%
Selling, general and administrative   [+]62.462.482.782.715.36.5
Research and development  9.99.911.511.55.24.0
Equity in earnings    0.4 1.4-0.7
EBITDA   [+]-98.7-98.7-126.2-126.6-15.5-12.7
            EBITDA margin  -80.2%-80.2%-46.7%-46.8%-8.3%-23.8%
Depreciation  0.60.90.20.20.00.4
EBITA  -99.3-99.6-126.5-126.8-15.5-13.1
            EBITA margin  -80.7%-80.9%-46.7%-46.9%-8.3%-24.6%
Amortization of intangibles  0.3     
EBIT   [+]-99.6-99.6-126.5-126.8-15.5-13.1
            EBIT margin  -80.9%-80.9%-46.7%-46.9%-8.3%-24.6%
Interest expense  1.01.00.80.80.40.5
Other income (expense), net   [+]1.41.420.821.2-0.1 
Pre-tax income  -99.2-99.2-106.4-106.4-16.0-13.5
Income taxes  0.40.40.20.2-0.10.0
            Tax rate      0.5%0.3%
Net income  -99.6-99.6-106.6-106.6-15.9-13.5
            Net margin  -80.9%-80.9%-39.4%-39.4%-8.5%-25.4%
   
Basic EPS   [+]($0.98)($0.98)($1.24)($1.24)($0.23)($0.22)
Diluted EPS   [+]($0.98)($0.98)($1.24)($1.24)($0.23)($0.22)
   
Shares outstanding (basic)   [+]101.4101.486.086.068.862.0
Shares outstanding (diluted)   [+]101.4101.486.086.068.862.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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