FTC Solar, Inc. (NASDAQ:FTCI) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET
Company Participants
Bill Michalek - Vice President-Investor Relations
Sean Hunkler - President and Chief Executive Officer
Phelps Morris - Chief Financial Officer
Patrick Cook - Chief Commercial Officer
Conference Call Participants
Philip Shen - ROTH Capital Partners
Donovan Schafer - Northland Capital Markets
Jeff Osborne - Cowen
Pavel Molchanov - Raymond James & Associates
Kashy Harrison - Piper Sandler
Maheep Mandloi - Credit Suisse
Alex Figueroa - Bank of America
Operator
Good day and thank you for standing by. Welcome to the FTC Solar Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference maybe recorded.
I would like to turn the conference over now to your speaker for today, Bill Michalek, You may go ahead.
Bill Michalek
Thank you, and welcome, everyone, to FTC Solar’s fourth quarter 2022 earnings conference call. Before today's call, you’d likely had opportunity to review our earnings release, supplemental financial information and slide presentation, which were posted earlier today. If you’ve not yet reviewed these documents, they are available on the Investor Relations section of our website@ftcsolar.com.
I’m joined today by Sean Hunkler, FTC Solar’s President and Chief Executive Officer; Phelps Morris, the Company’s Chief Financial Officer; and Patrick Cook, the Company’s Chief Commercial Officer.
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 speak 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 will be discussing 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. In addition, we’ll discuss our executed contract and awarded orders collectively referred to as backlog, and our definition of this metric is also included in our press release.
With that, I'll turn it over to Sean.
Sean Hunkler
Thanks, Bill, and good morning everyone. As I reflect on my first full calendar year as CEO in 2022, I am proud of how the team navigated many external challenges. The year began with historically high logistics and steel costs followed by a rather challenging regulatory market in the U.S., which as you know has historically represented the primary source of our revenue. The team has responded well to the challenges, utilizing the downturn to focus on what we can control, improve our competitive positioning, and emerge as a stronger company.