5/5/2026

speaker
Operator
Conference Operator

Thank you for standing by and welcome to STC Solar first quarter 2026 earnings conference call. I'd like to remind everyone that this call is being recorded and that all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one in your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Mr. Bill Michalak, VP of Investor Relations. You may begin.

speaker
Bill Michalak
VP of Investor Relations

Thank you, and welcome, everyone, to FTC Solar's first quarter 2026 earnings conference call. Before today's call, you may have reviewed our earnings release and supplemental financial information, which were posted earlier today. If you haven't reviewed these documents, they're available in the Investor Relations section of our website at ftcsolar.com. I'm joined today by Shekhar Sadassabham, Chairman of the Board, Anthony Carroll, the company's newly appointed President and CEO, Kathy Bainan, the company's Chief Financial Officer, and Patrick Cook, the company's Head of Capital Markets and BD. Before we begin, I remind everyone that today's discussion contains forward-looking statements based on our assumptions and beliefs in the current environment and speaks only as of the current date. As such, these forward-looking statements include risks and uncertainties, and actual results and events could differ materially from our current expectations. Please refer to our press release and other SEC filings for more information on the specific risk factors. We assume no obligation to update such information except as required by law. As you'd expect, we'll discuss both GAAP and non-GAAP financial measures today. Please note that the earnings release issued this morning includes a full reconciliation of each non-GAAP financial measure to the nearest applicable GAAP measure. With that, I'll turn the call over to Shaker.

speaker
Shekhar Sadassabham
Chairman of the Board

Thank you, Bill, and good morning, everyone. I felt it was important to speak with you directly on behalf of the board of directors about the leadership transition we announced today. I'm incredibly pleased to welcome and congratulate current board member Anthony Carroll on his appointment as the new president and CEO of FTC Solar. Anthony is a truly talented leader with a proven track record of scaling operations and driving value creation. He has served on the FTC Board of Directors since last December and has been the chairman of our Customer Advisory Board since 2023. He most recently served as CEO of Weave, a division of Lennar, where he was brought in to scale operations. Many of you may also know him from his time as the President of Poland the CEO of Power Electronics, or his time at Siemens or Schneider Electric. He has been in the industry for many years, has helped scale multiple billion-dollar businesses, and is well connected. The Board and I believe that based on the progress made to date and recent project wins, FTC is at a critical inflection point positioned with a strong foundation and the potential for very significant growth. Anthony's operational depth, dynamic leadership, and demonstrated success in scaling growth businesses make him exceptionally well-suited to lead FTC Solar into its next chapter. On behalf of the Board, I would like to thank Jan Brand for his many contributions to the company. Jan stepped into FTC at an important point in time, one that was focused on stabilization and recovery. Under his leadership, the company secured strategic financing, completed its 1P tracker introduction, and experienced good customer engagement, resulting in increased AVL list access, pipeline visibility, and new project wins. While today's leadership change may not have been expected, the Board and I believe it represents a tremendous opportunity for us to build on the strong foundation that is now in place and to leverage Anthony's capabilities to accelerate momentum, scale the business, and achieve profitability. Now, I will turn it over to Anthony.

Disclaimer

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