FTC Solar Appoints Anthony Carroll as New CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy FTCI?
Board Member Anthony Carroll has been appointed President and CEO of FTC Solar, effective April 29. Carroll brings strong renewables experience with a proven track record of scaling operations and driving value creation. He most recently served as CEO of Veev, a subsidiary of Lennar focused on efficient and sustainable homebuilding. Prior to joining Veev in early 2024, he was the President of Powin, a global leader in energy storage systems. He has also served as Managing Director at Siemens Gamesa Electric, leading the Power Conversion and Energy Storage business in North America, as well as in leadership roles for Schneider Electric and Power Electronics.
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Analyst Views on FTCI
Wall Street analysts forecast FTCI stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 4.390
Low
10.00
Averages
14.38
High
20.00
Current: 4.390
Low
10.00
Averages
14.38
High
20.00
About FTCI
FTC Solar, Inc. is a global provider of solar tracker systems, technology, software, and engineering services. Its original two modules-in-portrait (2P) solar tracker system is marketed under the Voyager brand name (Voyager) and its one module-in-portrait (1P) solar tracker system is marketed under the Pioneer brand name (Pioneer). It also has a mounting solution to support the installation and use of U.S.-manufactured thin-film modules. Its primary software offerings include SUNPATH, which helps customers optimize solar tracking for increased energy production, and SUNOPS real-time operations management platform. It assists its U.S. and worldwide clients in site layout, structural design, pile testing and other needs across the solar project development and construction cycle. Its products and services provide tracker solutions for large utility-scale solar and distributed generation projects around the world. It has operations in Australia, China, India, South Africa and Spain.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
FTC Solar Q1 2026 Earnings Call Insights
- Leadership Transition: Newly appointed CEO Anthony Carroll emphasized that FTC Solar is at a critical inflection point, aiming for significant growth by expanding internationally and pursuing a leadership position in the tracker industry, indicating a positive outlook for the company's future.
- Financial Performance: Although Q1 revenue was $17.3 million, falling short of expectations, management highlighted exceptional customer momentum and new business bookings, particularly a new 1 gigawatt contract expected to contribute significantly to 2026 revenue, reflecting the company's competitive position in the market.
- Future Outlook: Management guided Q2 revenue to be between $22 million and $26 million, with full-year revenue projected to grow approximately 40% compared to 2025, demonstrating confidence in future growth potential despite facing some policy and financing uncertainties.
- Operational Risks: Management acknowledged that a delay in a key project caused Q1 performance to fall below targets; however, they plan to cease using the ATM financing and take actions to terminate the program to improve liquidity conditions.
See More
FTC Solar Reports Q1 Losses Amid Revenue Decline
- Poor Financial Performance: FTC Solar reported a Q1 GAAP EPS of -$0.72 with revenue of $17.3 million, a 17% year-over-year decline, indicating ongoing pressure in market competition and deteriorating profitability.
- Revenue Guidance Discrepancy: While the company guided for Q2 revenue between $22 million and $26 million, the actual Q1 revenue of $17.3 million fell significantly short of expectations, reflecting weak market demand and sales challenges.
- Deteriorating Non-GAAP Metrics: The Q1 non-GAAP gross profit loss was $0.4 million with a gross margin of -2.2%, while the company anticipates a gross margin range of -6.4% to 4.0% for Q2, highlighting significant challenges in cost control and profitability.
- Operating Expense Management: Despite Q1 non-GAAP operating expenses of $7.8 million being below the upper guidance limit, the company still faces pressure from expenses potentially reaching $8.9 million, which could impact future financial flexibility and investment capacity.
See More
FTC Solar Reports Q1 Results and Leadership Transition
- Significant Revenue Decline: FTC Solar reported first-quarter revenue of $17.3 million, representing a 47.5% decrease from the previous quarter and a 17.0% decline year-over-year, indicating pressure in market competition that could affect investor confidence moving forward.
- Gross Loss Worsens: The GAAP gross loss for Q1 was $1.2 million, or 7.1% of revenue, compared to a gross profit of $4.9 million in the prior quarter, reflecting challenges in cost control and market demand that may lead to greater financial strain in the short term.
- Leadership Transition: Board member Anthony Carroll was appointed CEO on April 29, bringing extensive experience in renewables, which is seen as critical for the company's transformation and may provide new growth momentum for FTC Solar.
- Backlog Increases: The company's current backlog stands at approximately $543 million, indicating future revenue potential despite a poor first quarter; if effectively converted into actual revenue, this could positively impact the company's long-term growth trajectory.
See More
FTC Solar Signs 1 GW Tracker Supply Expansion with Strata Clean Energy
- Long-Term Partnership: FTC Solar has signed a five-year, 1 GW expansion agreement with Strata Clean Energy, set to take effect in H2 2027, which will further solidify FTC Solar's position in the U.S. market amid rapid growth in the renewable energy sector.
- Supply Agreement Context: Previously, FTC Solar entered a three-year, 500 MW supply agreement with Strata, becoming their preferred supplier of 2P solar trackers, showcasing FTC Solar's advantages in technology and customer support, thereby enhancing its market competitiveness.
- Positive Customer Feedback: Strata CEO Markus Wilhelm noted that using FTC trackers has resulted in significant labor efficiencies and cost savings, and their products are easy to install, reflecting FTC Solar's ongoing commitment to innovation and customer support, which boosts customer satisfaction.
- International Market Expansion: FTC Solar has also signed an 840 MW supply agreement with South African firm Lubanzi Inala, set to commence in mid-2026, indicating the company's strategy to expand in global markets and capitalize on the growing demand for renewable energy internationally.
See More
FTC Solar Expands Supply Agreement with Strata Clean Energy
- Agreement Expansion: FTC Solar has signed a five-year, 1,000MW solar tracker supply agreement with Strata Clean Energy, marking a deepening of their partnership after completing the initial 500MW project ahead of schedule, with the first project expected to commence in the second half of 2027, enhancing FTC Solar's competitive edge in the clean energy market.
- Innovative Product Advantage: CEO Yann Brandt emphasized that FTC Solar's product portfolio includes the fastest and easiest-to-install trackers in the market, and the ongoing focus on innovation and customer support is expected to enhance customer satisfaction, driving the success of future projects.
- Significant Cost Efficiency: Strata's CEO Markus Wilhelm noted that using FTC trackers has resulted in meaningful labor efficiencies and cost savings, indicating that FTC Solar's products provide high economic value in practical applications, further solidifying its market position.
- Market Reaction Analysis: Although FTC Solar's stock fell 1.33% to $4.45 in premarket trading on Tuesday, analysts generally maintain a 'Buy' rating, reflecting a cautiously optimistic outlook on the company's future growth potential.
See More
FTC Solar Reports Strong Q4 2025 Earnings Growth and Strategic Developments
- Significant Revenue Growth: FTC Solar reported Q4 2025 revenue of $32.9 million, exceeding the midpoint of its guidance range of $30 million to $35 million, reflecting a robust 26% sequential growth that underscores the company's strong market performance and ongoing growth potential.
- Record Gross Margins: The company achieved a GAAP gross profit of $6.9 million, representing 21% of revenue, while non-GAAP gross profit reached $7.7 million or 23.4%, marking a significant improvement in profitability that enhances FTC Solar's competitive position in the industry.
- Increased Contract Backlog: FTC Solar's contracted backlog now stands at $491 million, with an increase of $60 million since November 12, indicating strong confidence in customer demand and market opportunities that are expected to drive future revenue growth.
- Clear Strategic Goals: Management reaffirmed its aim to become a top three tracker provider, highlighting a 1 GW supply agreement with a leading U.S. developer and an 840 MW multi-year MSA with Lubanzi in South Africa, demonstrating the company's expansion and diversification strategy in the global market.
See More
FTC Solar Q1 2026 Earnings Call Insights
- Leadership Transition: Newly appointed CEO Anthony Carroll emphasized that FTC Solar is at a critical inflection point, aiming for significant growth by expanding internationally and pursuing a leadership position in the tracker industry, indicating a positive outlook for the company's future.
- Financial Performance: Although Q1 revenue was $17.3 million, falling short of expectations, management highlighted exceptional customer momentum and new business bookings, particularly a new 1 gigawatt contract expected to contribute significantly to 2026 revenue, reflecting the company's competitive position in the market.
- Future Outlook: Management guided Q2 revenue to be between $22 million and $26 million, with full-year revenue projected to grow approximately 40% compared to 2025, demonstrating confidence in future growth potential despite facing some policy and financing uncertainties.
- Operational Risks: Management acknowledged that a delay in a key project caused Q1 performance to fall below targets; however, they plan to cease using the ATM financing and take actions to terminate the program to improve liquidity conditions.
See More
FTC Solar Reports Q1 Losses Amid Revenue Decline
- Poor Financial Performance: FTC Solar reported a Q1 GAAP EPS of -$0.72 with revenue of $17.3 million, a 17% year-over-year decline, indicating ongoing pressure in market competition and deteriorating profitability.
- Revenue Guidance Discrepancy: While the company guided for Q2 revenue between $22 million and $26 million, the actual Q1 revenue of $17.3 million fell significantly short of expectations, reflecting weak market demand and sales challenges.
- Deteriorating Non-GAAP Metrics: The Q1 non-GAAP gross profit loss was $0.4 million with a gross margin of -2.2%, while the company anticipates a gross margin range of -6.4% to 4.0% for Q2, highlighting significant challenges in cost control and profitability.
- Operating Expense Management: Despite Q1 non-GAAP operating expenses of $7.8 million being below the upper guidance limit, the company still faces pressure from expenses potentially reaching $8.9 million, which could impact future financial flexibility and investment capacity.
See More
FTC Solar Reports Q1 Results and Leadership Transition
- Significant Revenue Decline: FTC Solar reported first-quarter revenue of $17.3 million, representing a 47.5% decrease from the previous quarter and a 17.0% decline year-over-year, indicating pressure in market competition that could affect investor confidence moving forward.
- Gross Loss Worsens: The GAAP gross loss for Q1 was $1.2 million, or 7.1% of revenue, compared to a gross profit of $4.9 million in the prior quarter, reflecting challenges in cost control and market demand that may lead to greater financial strain in the short term.
- Leadership Transition: Board member Anthony Carroll was appointed CEO on April 29, bringing extensive experience in renewables, which is seen as critical for the company's transformation and may provide new growth momentum for FTC Solar.
- Backlog Increases: The company's current backlog stands at approximately $543 million, indicating future revenue potential despite a poor first quarter; if effectively converted into actual revenue, this could positively impact the company's long-term growth trajectory.
See More
FTC Solar Signs 1 GW Tracker Supply Expansion with Strata Clean Energy
- Long-Term Partnership: FTC Solar has signed a five-year, 1 GW expansion agreement with Strata Clean Energy, set to take effect in H2 2027, which will further solidify FTC Solar's position in the U.S. market amid rapid growth in the renewable energy sector.
- Supply Agreement Context: Previously, FTC Solar entered a three-year, 500 MW supply agreement with Strata, becoming their preferred supplier of 2P solar trackers, showcasing FTC Solar's advantages in technology and customer support, thereby enhancing its market competitiveness.
- Positive Customer Feedback: Strata CEO Markus Wilhelm noted that using FTC trackers has resulted in significant labor efficiencies and cost savings, and their products are easy to install, reflecting FTC Solar's ongoing commitment to innovation and customer support, which boosts customer satisfaction.
- International Market Expansion: FTC Solar has also signed an 840 MW supply agreement with South African firm Lubanzi Inala, set to commence in mid-2026, indicating the company's strategy to expand in global markets and capitalize on the growing demand for renewable energy internationally.
See More
FTC Solar Expands Supply Agreement with Strata Clean Energy
- Agreement Expansion: FTC Solar has signed a five-year, 1,000MW solar tracker supply agreement with Strata Clean Energy, marking a deepening of their partnership after completing the initial 500MW project ahead of schedule, with the first project expected to commence in the second half of 2027, enhancing FTC Solar's competitive edge in the clean energy market.
- Innovative Product Advantage: CEO Yann Brandt emphasized that FTC Solar's product portfolio includes the fastest and easiest-to-install trackers in the market, and the ongoing focus on innovation and customer support is expected to enhance customer satisfaction, driving the success of future projects.
- Significant Cost Efficiency: Strata's CEO Markus Wilhelm noted that using FTC trackers has resulted in meaningful labor efficiencies and cost savings, indicating that FTC Solar's products provide high economic value in practical applications, further solidifying its market position.
- Market Reaction Analysis: Although FTC Solar's stock fell 1.33% to $4.45 in premarket trading on Tuesday, analysts generally maintain a 'Buy' rating, reflecting a cautiously optimistic outlook on the company's future growth potential.
See More
FTC Solar Reports Strong Q4 2025 Earnings Growth and Strategic Developments
- Significant Revenue Growth: FTC Solar reported Q4 2025 revenue of $32.9 million, exceeding the midpoint of its guidance range of $30 million to $35 million, reflecting a robust 26% sequential growth that underscores the company's strong market performance and ongoing growth potential.
- Record Gross Margins: The company achieved a GAAP gross profit of $6.9 million, representing 21% of revenue, while non-GAAP gross profit reached $7.7 million or 23.4%, marking a significant improvement in profitability that enhances FTC Solar's competitive position in the industry.
- Increased Contract Backlog: FTC Solar's contracted backlog now stands at $491 million, with an increase of $60 million since November 12, indicating strong confidence in customer demand and market opportunities that are expected to drive future revenue growth.
- Clear Strategic Goals: Management reaffirmed its aim to become a top three tracker provider, highlighting a 1 GW supply agreement with a leading U.S. developer and an 840 MW multi-year MSA with Lubanzi in South Africa, demonstrating the company's expansion and diversification strategy in the global market.
See More
