Piotroski F-score
Failed
FTCI reported revenue of $99.69M and net income of −$79.58M in FY2025.
| Fiscal year | Revenue | Net income |
|---|---|---|
| 2025 | $99.69M | −$79.58M |
| 2024 | $47.36M | −$48.61M |
| 2023 | $127M | −$50.29M |
4 more years are on Measure
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Also filed under Solar, ranked by how closely they sit beside FTCI.
The assistant answers from what FTCI has actually filed: 7 annual reports filed with the SEC, 18 Form 4 filings from the last year and 1 fund that holds it. Every figure in a reply links to the filing it came from, so an answer can be checked rather than believed.
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Cash flow breakdown
What the business generated, and where it went
Operating cash flow
−$33.44M 2025
Cash generated by the business itself
Free cash flow
−$34.57M 2025
Operating cash flow minus capital expenditure
Capital expenditure
$1.13M 2025
Spending on property, plant and equipment
FTCI generated −$33.44M of operating cash flow. Each figure below is what it did with that, as reported on the same statement.
Reinvested in the business
A non-cash cost, added back above
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | −$33.44M | −$34.7M | −$52.66M | −$54.51M | −$132.85M | $629K | −$254K |
| Capital expenditure | $1.13M | $1.65M | $816K | $985K | $1.03M | $256K | $18K |
| Free cash flow | −$34.57M | −$36.34M | −$53.47M | −$55.5M | −$133.88M | $373K | −$272K |
| Stock-based compensation | $4.96M |
Financial statements
Every figure below is this company’s, as filed. Measure draws them: 7 years and 26 quarters plotted to scale, on the income statement, balance sheet and cash flow, plus the ratio and estimate sections this page does not carry.
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Revenue
Plotted to scale onMeasure
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $99.69M | $47.36M | $127M | $123.07M | $270.53M | $187.35M | $53.12M |
| Cost of revenue | $100.57M | $59.95M | $118.7M | $150.29M | $303.07M | $183.71M | $55.08M |
| Gross profit | −$880K | −$12.59M | $8.31M | −$27.23M | −$32.55M | $3.64M | −$1.95M |
| Research and development | $4.39M | $5.92M | $7.17M | $9.95M | $11.54M | $5.22M | $3.96M |
| Selling, general and administrative | $23.96M | $25.44M | $37.11M | $53.74M | $75.9M | $11.8M | $4.56M |
Cash
Plotted to scale onMeasure
As reported in the company's own annual filings.
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Total assets | $111.81M | $89.93M | $123.07M | $134.4M | $243.02M | $71.39M | - |
| Current assets | $97.77M | $76.13M | $108.51M | $118.69M | $235.78M | $65.72M | - |
| Cash | $21.11M | $11.25M | $25.24M | $44.39M | $102.19M | $32.36M | $7.22M |
| Total liabilities | $154.77M | $70.89M | $60.6M | $67.95M | $100.15M | $63.94M | - |
| Current liabilities | $68.23M | $49.07M | $54.67M | $60.34M | $93.25M | $59.81M | - |
| Total debt |
Derived from SEC XBRL filings. Not investment advice.
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The charts, to scaleMeasure
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Revenue, margins and cash flow quarter by quarter, where a change in direction shows up first.
Quarterly statementsMeasure
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Why a margin moved, where the cash went: answered from FTCI's own statements, not a guess.
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| $5.41M |
| $8.3M |
| $20.3M |
| $61.77M |
| $1.82M |
| $906K |
| Buybacks | - | - | $0 | $0 | $54.16M | $0 | $0 |
|---|
| Operating income |
|---|
| −$35.42M |
| −$52.83M |
| −$50.78M |
| −$99.57M |
| −$126.8M |
| −$16.93M |
| −$12.37M |
| Net income | −$79.58M | −$48.61M | −$50.29M | −$99.61M | −$106.59M | −$15.92M | −$13.5M |
|---|
| Diluted EPS | -$5.68 | -$3.83 | -$4.35 | -$0.98 | -$1.24 | -$0.23 | -$0.22 |
|---|
| Diluted shares | 14.01M | 12.68M | 11.55M | 101.41M | 86.04M | 68.81M | 62.04M |
|---|
| Gross margin | −0.88% | −26.59% | 6.54% | −22.12% | −12.03% | 1.94% | −3.67% |
|---|
| Operating margin | −35.53% | −111.56% | −39.98% | −80.91% | −46.87% | −9.03% | −23.29% |
|---|
| Net margin | −79.83% | −102.64% | −39.60% | −80.94% | −39.40% | −8.50% | −25.40% |
|---|
| $9.92M |
| $9.47M |
| $0 |
| - |
| $0 |
| $784K |
| - |
| Shareholder equity | −$42.96M | $19.04M | $62.47M | $66.45M | $142.87M | $7.45M | −$8.45M |
|---|