FTC Solar, Inc.

Halal Rating :
Comfortable
Last Price $3.4
Market Cap $43.31m
1D Change

-8.38 %

1 Year Change

570.76 %

Next Earnings Date

Yet to be announced

Company Overview

FTC Solar, Inc. is a technology company that designs, develops, manufactures, and sells solar tracking systems for utility-scale solar energy projects. The company's main product is the Voyager Tracker, a single-axis solar tracking solution that helps optimize solar panel performance throughout the day by following the sun's movement.

The company provides end-to-end engineering, construction, and support services to facilitate the deployment of its tracking systems, including site design optimization, project management, and installation support.

Revenue Sources

Pass

Based on the company's financial statements and business model, FTC Solar generates its revenue primarily from the sale and installation of solar tracking systems and related services. The company's core business activities are focused on renewable energy infrastructure, which is halal. There is no evidence of revenue from prohibited sources such as alcohol, gambling, or other haram activities.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
Sept. 30, 2024 $10.14m $25.09m - $-24,000.0 0.00% 0.10%
June 30, 2024 $11.43m $23.35m - $-1,000.0 0.00% 0.00%
March 31, 2024 $12.59m $25.23m - $136,000 0.00% 0.54%
Dec. 31, 2023 $23.2m $35.0m - $59,000 0.00% 0.17%

Analyzing the company's financial statements for the last four quarters shows minimal interest-related activity. The interest expense ratios are negligible relative to total expenses, consistently remaining well below the 5% threshold. The company's financing structure appears to be primarily equity-based rather than debt-based.

Operational Ethics

Pass

Based on available information from SEC filings and company documents, FTC Solar primarily operates in North America and has no documented ongoing relationships with entities involved in human rights violations. There is no evidence of current operations or R&D centers in Israel or significant ties to the Chinese Communist Party.

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