First Solar, Inc. (NASDAQ:FSLR) had a difficult Q1 2025 as its EPS of $1.95 missed expectations by a hefty $0.6. The company's revenue of $844.57 million, though in-line with market estimates, was down sharply from $1.5 billion in Q4 2024, primarily due to 'an anticipated seasonal reduction in the volume of modules sold.' That said, FSLR maintains one of the strongest balance sheets in the solar industry, with $0.4 billion in net cash at the end of Q1. The company expects to close 2025 with $700 million – $1.2 billion in net cash, giving it flexibility to continue innovating its thin-film solar modules and expand its manufacturing capacity.