FTC Solar Reaffirms 2022 Financial Outlook; Announces Earnings Date and Upcoming Conference Participation
03 March 2022 - 12:15AM
FTC Solar, Inc. (Nasdaq: FTCI), a fast-growing global provider of
solar tracker systems, software and engineering services, today
announced that it will release fourth quarter and full year 2021
financial results before market open on Tuesday, March 15, 2022.
The company also reaffirmed its financial outlook for 2022 and
announced its participation in upcoming investor conferences.
2022 OutlookFTC Solar’s targets for full year
2022 remain unchanged from its prior guidance of January 18, 2022.
The company believes this outlook would result in revenue growth
that is faster than the overall market, while transitioning into
profitability during the year. As discussed previously,
the company’s 2022 outlook assumes an improvement in regulatory
pressures on module availability as well as no significant supply
chain disruptions due to COVID-19, and the company continues to
closely monitor these impacts.
(in millions) |
FY 2022 Guidance |
Revenue |
$415 - $460 |
Non-GAAP Gross Margin |
11%-14% |
Non-GAAP operating expenses |
$49 - $54 |
Non-GAAP adjusted EBITDA |
$(4) - $11 |
Fourth Quarter Earnings Call FTC Solar will
release fourth quarter and full year 2021 earnings results before
market open on Tuesday, March 15, 2022. The live webcast of the
conference call will be available on the investor relations section
of the FTC Solar website at investor.ftcsolar.com. Following
completion of the call, a recording of the webcast will be
available on the website for 30 days.
Upcoming Investor Conferences FTC Solar’s Chief
Executive Officer Sean Hunkler and Chief Financial Officer Patrick
Cook are scheduled to participate in meetings with investors at the
following upcoming conferences:
Bank of America Power, Utilities & Clean Energy
Leaders Conference – March 3, 2022, virtual.
Raymond James Institutional Investors
Conference – March 8, 2022 in Orlando. Mr. Hunkler is
scheduled to present at the conference beginning at 4:00 p.m.
Eastern Time. A live webcast and replay of this presentation will
be accessible from the Events section of FTC Solar’s website at
www.ftcsolar.com.
Piper Sandler Energy Conference – March 22,
2022 in Las Vegas.
About FTC Solar Inc.Founded in 2017 by a group
of renewable energy industry veterans, FTC Solar is a fast-growing,
global provider of solar tracker systems, technology, software, and
engineering services. Solar trackers significantly increase energy
production at solar power installations by dynamically optimizing
solar panel orientation to the sun. FTC Solar’s innovative tracker
designs provide compelling performance and reliability, with an
industry-leading installation cost-per-watt advantage.
Forward-Looking StatementsThis
press release contains forward looking statements. These statements
are not historical facts but rather are based on our current
expectations and projections regarding our business, operations and
other factors relating thereto. Words such as “may,” “will,”
“could,” “would,” “should,” “anticipate,” “predict,” “potential,”
“continue,” “expects,” “intends,” “plans,” “projects,” “believes,”
“estimates” and similar expressions are used to identify these
forward-looking statements. These statements are only predictions
and as such are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
You should not rely on our forward-looking statements as
predictions of future events, as actual results may differ
materially from those in the forward-looking statements because of
several factors, including those described in more detail in our
filings with the U.S. Securities and Exchange Commission, including
the section entitled “Risk Factors” contained therein. FTC Solar
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or changes in its expectations, except
as required by law.
Source: FTC Solar, Inc.
FTC Solar Investor Contact:Bill
Michalek Vice President, Investor Relations FTC SolarT:
(737) 241-8618 E: IR@FTCSolar.com
FTC Solar Media Contact:Scott DeitzOn behalf of
FTC SolarT: (336) 908-7759
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