FTC Solar, Inc. (NASDAQ:FTCI) Q4 2022 Earnings Call Transcript

Alex Figueroa: Got it. That’s, that’s super helpful. And then just one more I I wanted to ask just on the cash piece. congrats to gross margins trending back into positive or territory is a very welcome sign, but, but realize, you’re still going to be negative cash it looks like on an EBITDA base at least in the first quarter. When do you think about cash on balance sheet? and I know you have, I guess the, the debt covenant terms extended the first quarter. What, what do we think about there just as far as like your liquidity base anything that has to happen there? I know working capital looks like it’s relatively drawn. Just anything we should be watching on the debt covenant versus cash in one queue specifically, that would be double Thanks.

Sean Hunkler: No, I mean, so cash it had at 44.4 million. If you think about the cash usage for the year, most of that was actually in q1, right? We are pretty neutral in the last three quarters of the year. You are correct, the revolver covenant, we’ll go back to 1 25 at the end of q1. But overall, we’re, we’re thinking that cash should be relatively neutral for the quarter. There will, there will be some potential timing that we could pull some, pull some cash in that you have every quarter or push cash out. But overall we, we feel good from that perspective. And again, getting the, the turn in terms of getting an improved margin profile, et cetera we think that’s going to help alleviate some of the potential cash uses going forward.

Operator: Well, thanks. And that concludes the Q&A session for today. I would like to turn the call back over to management for any closing remarks.

Sean Hunkler: Thanks everyone for joining today. We believe we ended 2022 on an improving trajectory in that we’re well positioned for the future. We have a lowered cost structure, innovative product line or record pipeline, and very strong backlog at 1.2 billion. And we’re looking for good revenue growth in q1, along with continued margin improvement. Thanks again, and we look forward to speaking with you next quarter.

Operator: This concludes today’s conference call. Thank you all for joining. Enjoy the rest of your day.