FTC Solar, Inc. (FTCI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 194.68% of current shares
Recent Dilution: 22.5% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
16M
Potential Supply
30M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

FTCI currently has 15.6M outstanding shares. with significant dilution risk as 30.3M authorized shares could dilute existing holders by 194.7%. The company has diluted shareholders by 22.5% over the past 2 years through share issuances. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 15.6M shares outstanding

16M 30M
Aug 05, 2025

10-Q filing | 14.9M shares outstanding

15M 30M
May 16, 2025

S-3/A filing: FTC Solar, Inc. may offer and sell from time to time in one or more offerings common stock, preferred stock, debt securities, and warrants up to an aggregate offering price of $65,000,000.

13M 30M
May 01, 2025

S-3 filing: FTC Solar, Inc. is filing an S-3 to offer and sell common stock, preferred stock, debt securities, and warrants, with an aggregate offering price not exceeding $65,000,000. The company intends to use the net proceeds for general corporate purposes, including working capital, operating expenses, acquisitions, or investments.

13M 14M
May 01, 2025

10-Q filing | 12.9M shares outstanding

13M 14M
Mar 31, 2025

10-K filing | 12.7M shares outstanding

13M 14M
Dec 30, 2024

S-3 filing: This is an S-3 filing to register shares of common stock issuable upon exercise of warrants for resale by the Selling Stockholder.

13M 14M
Dec 04, 2024

8-K filing: FTC Solar, Inc. sold approximately $15,000,000 in principal amount of senior secured promissory notes and warrants to an institutional investor in a private placement that closed on December 4, 2024.

13M 14M
Nov 29, 2024
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 127,380,292 → 12,738,029

13M 14M
Nov 12, 2024

10-Q filing | 127.4M shares outstanding

130M 140M
Aug 08, 2024

10-Q filing | 126.2M shares outstanding

130M 140M
May 10, 2024

10-Q filing | 125.6M shares outstanding

130M 140M
Mar 15, 2024

10-K filing | 115.5M shares outstanding

120M 140M
Nov 08, 2023

10-Q filing | 119.8M shares outstanding

120M 140M
Aug 09, 2023

10-Q filing | 112.7M shares outstanding

110M 140M
May 10, 2023

10-Q filing | 106.8M shares outstanding

110M 140M
Feb 28, 2023

10-K filing | 101.4M shares outstanding

100M 140M
Dec 30, 2022

8-K filing: FTC Solar, Inc. settled a lawsuit with FCX Solar, LLC, agreeing to pay $1.5 million and issue 797,396 shares of common stock at $2.508163 per share, in exchange for a worldwide license under certain FCX patents.

100M 140M
Nov 09, 2022

10-Q filing | 102.2M shares outstanding

100M 140M
Aug 09, 2022

10-Q filing | 100.3M shares outstanding

100M 140M
Jun 27, 2022

S-3 filing: FTC Solar, Inc. files an S-3 to offer common stock, preferred stock, debt securities, and warrants up to $250,000,000, and selling stockholders offer 35,674,463 shares of common stock.

99M 140M
May 16, 2022

10-Q filing | 99.2M shares outstanding

99M 58M
Mar 21, 2022

S-1/A filing: This S-1/A filing relates to an offering of common stock by selling stockholders, with 37,277,987 shares being offered. The company will not receive any proceeds from the sale. As of March 11, 2022, there were 99,144,385 shares of common stock outstanding.

99M 58M
Mar 21, 2022

10-K filing | 99.1M shares outstanding

99M 58M
Feb 04, 2022

S-1 filing: This S-1 filing registers 37,277,987 shares of common stock offered by selling stockholders. The company will not receive any proceeds from the sale. Common stock outstanding is 96,751,102 shares as of February 4, 2022.

97M 58M
Nov 12, 2021

10-Q filing | 85.0M shares outstanding

85M 21M
Aug 11, 2021

10-Q filing | 84.3M shares outstanding

84M 21M
Jun 08, 2021

10-Q filing | 77.1M shares outstanding

77M 21M
May 03, 2021

8-K filing: FTC Solar, Inc. closed its initial public offering of 19,840,000 shares of common stock at $13.00 per share and entered into a $100 million senior secured revolving credit facility. ($257.92M proceeds)

67M 21M
Apr 27, 2021

S-1/A filing: S-1/A filing for FTC Solar, Inc. involving an option to purchase additional shares of common stock.

67M 21M
Apr 19, 2021

S-1/A filing: This S-1/A filing includes information on an offering of common stock by FTC Solar, Inc., with an option to purchase additional shares. It details the use of proceeds, dividend policy, directed share program, and other offering-related information.

67M 19M
Mar 26, 2021

S-1 filing: FTC Solar, Inc. is filing an S-1 form relating to an offering of common stock with an option to purchase additional shares.

N/A 0
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