The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Phillip Shin - Roth Capital Partners - Analyst
: Hey guys, thanks for taking the questions and congrats on the strong bookings momentum in this difficult environment. So wanted to talk through
some of that specifically on recurrence. That's a big, five gigawatt agreement there. Was wondering if you could share what the mix of 1P versus
2p is, the mix of the geographies.
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MARCH 31, 2025 / 12:30PM, FTCI.OQ - Q4 2024 FTC Solar Inc Earnings Call
So is it more dominated outside of the US or is it a US centric agreement? And then also you talked about the first project being put in place in the
back half of this year. Which geography would that be? And then if you can just speak more about the basis for the win beyond what you said in
the prepared remarks, that would be great. Thanks.
Question: Phillip Shin - Roth Capital Partners - Analyst
: Okay, thanks John. I appreciate that shifting over to the outlook for revenue, you gave an official guide for Q1, and that's sequentially higher, versus
Q4. I know you don't have an official outlook for Q2 or Q3, but can you talk about that trajectory, maybe loosely speak through, should we expect
Q2 to be flat versus Q1, or should we see a ramp as we go through the year and if so what needs to happen and what are the -- what needs to
happen in order to hit those expectations and then, what are some lines of, potential risk? Thanks.
Question: Phillip Shin - Roth Capital Partners - Analyst
: Okay, and then that would suggest Q2 might be more flat versus Q1.
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MARCH 31, 2025 / 12:30PM, FTCI.OQ - Q4 2024 FTC Solar Inc Earnings Call
Question: Phillip Shin - Roth Capital Partners - Analyst
: Got it thank you. And then one more and then I'll pass it on in terms of your bookings momentum, you have had a bunch of these, agreements
since you've joined so I was wondering if we should expect this train of agreements to continue as we get through the first half of the year.
Question: Phillip Shin - Roth Capital Partners - Analyst
: Great, okay, thanks, Yann. I'll pass it on.
Question: Jeff Osborne - TD Cowen - Analyst
: Thank you. Good morning. Just a couple of quick ones on my side, Yann, I was wondering if you could quantify the 1P and how much faster you're
seeing, some of the partners that you've announced today, what the anticipated experience is. I think in the past you guys have talked about 30%
to 40% faster if my memory is right, but that was under a prior management team. What the pitch these days?
Question: Jeff Osborne - TD Cowen - Analyst
: That's helpful. And just given you, you're now announcing five-year sort of framework agreements and broad strokes across multiple geographies,
how should investors think about the broader lens of target gross margins for the business?
I know you're not giving revenue guidance, but 35 years ago, people in the industry would say they're a low 20s gross margin prior to the IRA. What
do you think FTC's gross margin entitlement is, longer term?
Question: Jeff Osborne - TD Cowen - Analyst
: Perfect. And my last question is just in recent weeks you've seen quite a bit of steel price volatility. How should we think about, what transpired
for Q1, but also for the next quarter to what your supply chain management, is in light of the tariff environment and just price volatility in general,
what your exposure is, etc.
Question: Jeff Osborne - TD Cowen - Analyst
: Perfect, that's all I have. Thank you.
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