FTC Solar (FTCI) Stock Forecast & Price Target

FTC Solar Inc. has experienced significant growth, with bidding volume increasing approximately 60% year-over-year in Q1'25, indicating strong market demand for its solar tracker systems. The company's innovations in product offerings have led to heightened customer interest, as evidenced by a remarkable rise in customer visits to its demonstration facilities, which surged 100% and 240% over the past six and nine months, respectively. Additionally, financial projections for the company have been revised upward, with estimated revenues increasing by around 3% to $85 million and 4% to $102 million for 2025 and 2026, respectively, reflecting a positive long-term outlook.

FTC Solar Inc. has experienced an Adjusted EBITDA of -$12 million, which is approximately 9% lower than the prior consensus estimate of -$11 million, indicating persistent financial challenges. Although the company reported a 24% year-over-year decrease in non-GAAP operating expenses to $6.6 million in Q1 2025, this reduction has not been sufficient to achieve positive earnings before interest, taxes, depreciation, and amortization. Furthermore, as FTC Solar pursues international expansion, it faces risks associated with increased competition and potential trade policy challenges that could further compress margins and hinder growth prospects, contributing to a negative outlook for its stock.