FTC Solar (FTCI) Research & Development (2020 - 2026)
FTC Solar's Research & Development was $930,000 in Q3 2026, down 24.3% from $1.23 million a year earlier and down 23.1% from the prior quarter.
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Analysis
FTC Solar (FTCI) Research & Development (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, FTC Solar's Research & Development was $4.36 million through Sep 30, 2026, down 8.2% year-over-year; for FY2025, it came in at $4.39 million, down 25.8% from FY2024.
- Research & Development has now declined for four consecutive years, with a five-year compound annual growth rate of -3.4% (FY2020 to FY2025).
- In earlier years, Research & Development was $5.92 million in FY2024 (-17.5%), $7.17 million in FY2023 (-28.0%), $9.95 million in FY2022 (-13.8%) and $11.54 million in FY2021 (+121.0%).
- The Q3 2026 figure marks the lowest quarterly Research & Development since Q1 2025.
- Compared with a year earlier, Research & Development was higher in three of the last eight quarters, with an average decline of 12.3%.
- The best year-over-year quarter for Research & Development over five years was Q4 2021 (growth of 60.6%); the worst was Q2 2022 (a decline of 51.4%).
- Per Business Quant data, FTCI's Research & Development in the three quarters before Q3 2026 was $1.21 million (Q2 2026), $1.12 million (Q1 2026) and $1.11 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 358.00 Mn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 64.15 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 67.22 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 45.57 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 3.83 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 63.83 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 32.20 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | - |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 10.30 Mn |
| 10 | FTC Solar | 19.06 Mn | -35.44 Mn | 1.90 Mn | 930,000.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 930,000.00 |
| Jun 30, 2026 | 1.21 Mn |
| Mar 31, 2026 | 1.12 Mn |
| Dec 31, 2025 | 1.11 Mn |
| Sep 30, 2025 | 1.23 Mn |
| Jun 30, 2025 | 1.13 Mn |
| Mar 31, 2025 | 924,000.00 |
| Dec 31, 2024 | 1.47 Mn |
| Sep 30, 2024 | 1.47 Mn |
| Jun 30, 2024 | 1.54 Mn |
| Mar 31, 2024 | 1.44 Mn |
| Dec 31, 2023 | 1.45 Mn |
| Sep 30, 2023 | 1.92 Mn |
| Jun 30, 2023 | 1.87 Mn |
| Mar 31, 2023 | 1.92 Mn |
| Dec 31, 2022 | 2.41 Mn |
| Sep 30, 2022 | 2.13 Mn |
| Jun 30, 2022 | 2.71 Mn |
| Mar 31, 2022 | 2.70 Mn |
| Dec 31, 2021 | 1.89 Mn |
API Access
FTC Solar Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=FTCI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "FTCI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=FTCI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();