Ftc solar announces third quarter 2023 financial results and leadership transition

Third quarter highlights and recent developments  revenue of $30.5 million up 84% y/y, down 5.6% q/q continue to improve cost structure, as evidenced by gross margin on sub-scale revenue levels project backlog of approximately $1.6 billion, with approximately $60 million added since august 9 leadership transition announced with sean hunkler and phelps morris departing austin, texas, nov. 08, 2023 (globe newswire) -- ftc solar, inc. (nasdaq: ftci), a leading provider of solar tracker systems, software and engineering services, today announced financial results for the third quarter ended september 30, 2023, as well as a leadership transition in which sean hunkler and phelps morris have departed their roles as ceo and cfo, respectively, and will be leaving the company in december 2023. leadership transition “much of the last two years has been about repositioning the company to be in the right markets with the right technology and cost structure to enable our profitable return to above-market growth rates,” said shaker sadasivam, chairman of the board of ftc solar.
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