FTC Solar slides after Q4 loss; Roth downgrades, delaying view to breakeven [Seeking Alpha]
FTC Solar, Inc. (FTCI)
Company Research
Source: Seeking Alpha
to downgrade shares to Neutral from Buy with a $0.45 price target, slashed from $2, "until we can truly see a path to the $50M-$60M of revenue required for breakeven and beyond," the firm says. Q4 GAAP net loss fell to $11.2M, or $0.09/share, from a net loss of $20.5M, or $0.20/share in the year-ago quarter, while revenues fell 11.5% Y/Y to $23.2M, driven by lower logistics volumes. The company said it expects Q1 revenues will fall from Q4 2023 and represent the trough for FY 2024, beyond Q1, it expects to see continued sequential revenue growth for the rest of the year, and forecasts reaching roughly breakeven on adjusted EBITDA in Q3 and becoming profitable in Q4. Management has charted a path to profitability in the past with limited success, making FTC Solar ( FTCI ) a "show me" story, Roth MKM analyst Philip Shen says, adding that cash also may become an issue if the path to breakeven takes longer than expected, which he now forecasts the company will approach in H2 2025 ra
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News
- Earnings Preview: FTC Solar (FTCI) Q1 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
- FTC Solar, Inc. (NASDAQ: FTCI) had its price target lowered by analysts at HC Wainwright from $2.50 to $1.50. They now have a "buy" rating on the stock.MarketBeat
- Bearish: Analysts Just Cut Their FTC Solar, Inc. (NASDAQ:FTCI) Revenue and EPS estimates [Yahoo! Finance]Yahoo! Finance
- FTC Solar, Inc. (NASDAQ:FTCI) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- FTC Solar, Inc. (NASDAQ:FTCI) Analysts Are Cutting Their Estimates: Here's What You Need To Know [Yahoo! Finance]Yahoo! Finance
FTCI
Earnings
- 3/13/24 - In-Line
FTCI
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- 4/26/24 - Form ARS
- FTCI's page on the SEC website