FTCI - FTC Solar GAAP EPS of -$0.25 misses by $0.06 revenue of $16.57M misses by $0.65M
- FTC Solar press release ( NASDAQ: FTCI ): Q3 GAAP EPS of -$0.25 misses by $0.06 .
- Revenue of $16.57M (-68.7% Y/Y) misses by $0.65M .
- Contracted and awarded orders as of November 9 were $961 million with expected delivery dates in 2022 and beyond. This includes the addition of $203 million since the company's last update as of August 9, 2022.
- Fourth Quarter outlook : Revenue of $23M- $27M vs. consensus of $78.35M; Non-GAAP Gross Margin of (15%)-0%; Non-GAAP adjusted EBITDA of $(14.5) - $(10.0).
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"While we are still looking for incremental clarity on how much module supply will be available to customers, we expect to see continued sequential revenue improvement in the first quarter of 2023, along with continued margin improvement. Overall, we continue to believe the ingredients are in place for a strong year for the industry in 2023."
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FTC Solar GAAP EPS of -$0.25 misses by $0.06, revenue of $16.57M misses by $0.65M