FTC Solar (NASDAQ:FTCI) shares dropped sharply in premarket trading Thursday after the company issued a first-quarter revenue forecast that came in well below market expectations.
The solar tracker manufacturer said it expects Q1 revenue of $20 million to $25 million, far short of analysts’ projections of about $35.1 million, according to LSEG data.
FTC Solar also guided for a first-quarter adjusted core loss of between $5.9 million and $9.6 million, wider than the $3.82 million loss analysts had anticipated.
The company said the outlook reflects seasonal softness at the start of the year as well as lingering regulatory uncertainty tied to project delays that occurred in mid-2025.
For the fourth quarter, FTC Solar reported an adjusted loss per share of $0.17, beating expectations for a loss of $0.22 per share.