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Jun 30, 2025
T1 Energy Inc. Q2 2025 Earnings Report
T1 Energy posted its first full quarter of solar module sales following the Trina acquisition and reported a net loss.
Key Takeaways
T1 Energy reported $132.8 million in revenue and a net loss of $31.9 million in Q2 2025. The results reflect initial traction from solar module operations, though high SG&A expenses and financing costs weighed on profitability.
Revenue reached $132.8 million, marking the company’s first quarter of solar module sales.
Net loss totaled $31.9 million, impacted by SG&A expenses and interest costs.
Cash and restricted cash declined to $46.7 million at quarter-end.
Trina-related sales accounted for a significant portion of revenue, indicating early execution of the acquisition strategy.
Revenue by Geographic Location
Forward Guidance
Management expects continued revenue growth from PV module sales and support from Section 45X tax credits but flagged risks from policy uncertainty and concentrated customer exposure.
Positive Outlook
- Trina integration supports module sales volume ramp-up.
- Expected monetization of 45X tax credits to improve liquidity.
- Agreements to defer payments reduce short-term cash pressure.
- Second tranche of $50M preferred stock financing secured.
- Operational facility in Texas continues ramping production.
Challenges Ahead
- OBBBA introduces risk to future tax credit eligibility.
- Customer concentration exposes business to contract risk.
- High SG&A continues to impact profitability.
- Uncertain trade environment could pressure input costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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