FTC Solar (FTCI) Stock Forecast & Price Target

FTC Solar Inc has experienced a robust increase in bidding volume, rising approximately 60% year-over-year in Q1 2025, indicative of heightened demand for its solar tracker systems. Management has noted significant enhancements in customer engagement, evidenced by a 100% and 240% increase in visits to its product demonstration facilities over the past six and nine months, respectively. Additionally, the company anticipates revenue growth projections for 2025 and 2026 to rise by around 3% and 4%, reaching $85 million and $102 million, respectively, reflecting a positive upward trend in financial performance.

FTC Solar Inc. reported an Adjusted EBITDA of -$12 million, which is approximately 9% lower than the previous consensus estimate, signaling ongoing financial challenges. Although the company's non-GAAP operating expenses decreased by 24% year-over-year to $6.6 million in Q1'25, marking the sixth consecutive quarter of expense reduction, these cost control measures may not sufficiently offset the significant negative EBITDA. Furthermore, the company's strategy for international expansion faces risks related to increased competition and challenges that could further erode profit margins and slow growth, potentially negatively impacting shareholder value.