FTC Solar Amends Credit Agreement for Flexibility

AUSTIN, Texas, Oct. 05, 2026 /CourierPR/ -- The credit agreement of FTC Solar, Inc., a leading provider of solar tracker systems, software, and engineering services, has undergone significant changes, as the company has entered into an amended agreement with its lenders. Key terms of the amended agreement include deferring a $5 million cash repayment requirement that was originally scheduled for September 30, 2026, to March 31, 2027. This adjustment provides the company with greater financial flexibility, allowing it to manage its cash flow more effectively.

Additionally, the financial covenants that would have applied during the remainder of 2026 have been lifted, allowing the company to operate without these constraints in the third and fourth quarters of the year. The future cash balance covenant has also been adjusted to $15 million, with the test beginning on January 4, 2027. Furthermore, the full-year 2026 adjusted EBITDA covenant has been removed, while a first quarter 2027 adjusted EBITDA covenant of $2 million has been introduced. The other financial covenants, including revenue, direct margin, and purchase order amounts, will begin to apply at the end of the first quarter of 2027.

These adjustments provide FTC Solar with greater flexibility to execute its business strategy and position the company for sustainable, long-term growth, while allowing that growth to develop organically. The CEO, Anthony Carroll, expressed satisfaction with the amendment, stating that it reflects the strength of the company's partnership with its lenders and the progress the company has made as an organization.

Founded in 2017 by a group of renewable energy industry veterans, FTC Solar, Inc., has established itself as a leading provider of solar tracker systems, software, and engineering services. The company's innovative tracker designs offer significant performance and reliability advantages, with an industry-leading installation cost-per-watt advantage. The company's commitment to sustainable, long-term growth and its innovative approach to solar technology have positioned it for continued success in the renewable energy sector.

FTC Solar, Inc., founded in 2017 by a group of renewable energy industry veterans, has benefited from these adjustments, which provide the company with greater flexibility to execute its business strategy and position itself for sustainable, long-term growth. The CEO, Anthony Carroll, expressed satisfaction with the amendment, stating that it reflects the strength of the company's partnership with its lenders and the progress the company has made as an organization.