T1 Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), T1 Energy Inc reported revenue of $755.3M and net income of ($380.8M) (+15.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY |
|---|---|---|---|
| Total net sales | $755.3M | — | — |
| Cost of sales | $699.7M | $1.7M | — |
| Gross profit | $55.6M | $1.2M | — |
| Selling, general and administrative | $235.3M | — | — |
| Impairment of intangible assets | $54.8M | — | — |
| Total operating expenses | $290.1M | — | $143.0M |
| Loss from discontinued operations | ($234.6M) | ($74.3M) | ($143.0M) |
| Warrant liability fair value adjustment | ($8.4M) | ($1.3M) | $31.8M |
| Derivative liabilities fair value adjustment | ($31.2M) | ($14.9M) | — |
| Loss on settlement of derivative liability | ($5.8M) | — | — |
| Loss on debt extinguishment | ($8.8M) | — | — |
| Impairment of assets previously classified as held for sale | ($16.1M) | — | — |
| Interest (expense) income, net | ($37.1M) | $3.4M | $9.9M |
| Foreign currency transaction (loss) gain | ($200.0K) | $563.0K | $20.9M |
| Other income, net | $1.4M | $6.1M | $6.9M |
| Total other expense | ($106.2M) | ($6.1M) | $70.6M |
| Loss from continuing operations before income taxes | ($340.7M) | ($80.4M) | ($72.4M) |
| Income tax benefit | $19.4M | $15.8M | ($670.0K) |
| Net loss from continuing operations | ($321.4M) | ($64.6M) | — |
| Net loss from discontinued operations, net of tax | ($46.5M) | ($385.9M) | — |
| Net loss attributable to non-controlling interests | $0 | $402.0K | $1.2M |
| Preferred deemed dividend | ($7.8M) | ($87.0K) | — |
| Tranche right deemed dividend | ($1.7M) | — | — |
| Net loss attributable to common stockholders | ($380.8M) | ($450.2M) | — |
| Weighted average shares of common stock outstanding - basic (in shares) | 173.6M | 140.5M | 139.7M |
| Weighted average shares of common stock outstanding - diluted (in shares) | 173.6M | 140.5M | 139.7M |
| Net loss per share from continuing operations - basic (in USD per share) | -$1.93 | -$0.46 | — |
| Net loss per share from continuing operations - diluted (in USD per share) | -$1.93 | -$0.46 | — |
| Net loss per share from discontinued operations - basic (in USD per share) | -$0.26 | -$2.75 | — |
| Net loss per share from discontinued operations - diluted (in USD per share) | -$0.26 | -$2.75 | — |
| Net loss attributable to stockholders per share - basic (in USD per share) | -$2.19 | -$3.20 | -$0.51 |
| Net loss attributable to stockholders per share - diluted (in USD per share) | -$2.19 | -$3.20 | -$0.51 |
| Net loss | ($367.8M) | ($450.6M) | ($73.1M) |
| Foreign currency translation adjustments | $40.8M | ($40.1M) | ($27.9M) |
| Total comprehensive loss | ($327.1M) | ($490.7M) | ($101.0M) |
| Comprehensive loss attributable to non-controlling interests | $0 | $402.0K | $1.2M |
| Preferred dividends and accretion | ($3.5M) | ($87.0K) | — |
| Comprehensive loss attributable to common stockholders | ($340.0M) | ($490.4M) | ($99.9M) |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total net sales | $250.1M | $177.6M | $210.5M | $132.8M |
| Cost of sales | $201.0M | $148.6M | $189.4M | $100.0M |
| Gross profit | $49.1M | $29.1M | $21.1M | $32.8M |
| Selling, general and administrative | $71.9M | $51.6M | $62.7M | $62.0M |
| Impairment of intangible assets | $0 | — | $53.2M | — |
| Total operating expenses | $71.9M | $51.6M | $115.9M | — |
| Operating loss from continuing operations | ($22.8M) | ($22.5M) | ($94.7M) | ($29.2M) |
| Warrant liability fair value adjustment | ($2.8M) | $10.4M | $1.5M | ($220.0K) |
| Derivative liabilities fair value adjustment | ($5.5M) | $20.0M | ($30.9M) | $1.0M |
| Impairment of assets previously classified as held for sale | $0 | $0 | — | — |
| Interest expense, net | ($6.7M) | ($6.2M) | ($9.4M) | ($8.0M) |
| Other income, net | $1.7M | $2.0M | ($377.0K) | ($1.4M) |
| Total other (expense) income | ($13.4M) | $26.2M | ($45.0M) | ($8.6M) |
| Loss from continuing operations before income taxes | ($36.1M) | $3.7M | ($139.7M) | ($37.8M) |
| Income tax (expense) benefit | ($781.0K) | $222.0K | $12.1M | $6.0M |
| Net loss from continuing operations | ($36.9M) | $3.9M | ($127.6M) | ($31.8M) |
| Net loss from discontinued operations, net of tax | ($6.6M) | ($24.3M) | ($3.0M) | ($61.0K) |
| Net loss attributable to common stockholders | ($44.5M) | ($21.4M) | ($140.8M) | ($32.8M) |
| Weighted average shares of common stock outstanding - basic (in shares) | 280.1M | 278.5M | 161.0M | 155.9M |
| Weighted average shares of common stock outstanding - diluted (in shares) | 280.1M | 285.3M | 161.0M | 155.9M |
| Net loss per share from continuing operations - basic (in USD per share) | -$0.14 | $0.01 | -$0.85 | -$0.20 |
| Net loss per share from continuing operations - diluted (in USD per share) | -$0.14 | $0.01 | -$0.85 | -$0.20 |
| Net loss per share from discontinued operations - basic (in USD per share) | -$0.02 | -$0.09 | -$0.02 | $0.00 |
| Net loss per share from discontinued operations - diluted (in USD per share) | -$0.02 | -$0.09 | -$0.02 | $0.00 |
| Net loss per share - basic (in USD per share) | -$0.16 | -$0.08 | -$0.87 | -$0.21 |
| Net loss per share - diluted (in USD per share) | -$0.16 | -$0.08 | -$0.87 | -$0.21 |
| Net loss | ($43.5M) | ($20.4M) | ($130.6M) | ($31.9M) |
| Foreign currency translation adjustments | ($4.3M) | $7.3M | $3.6M | $13.5M |
| Total comprehensive loss | ($47.9M) | ($13.1M) | ($126.9M) | ($18.4M) |
| Preferred dividends and accretion | ($990.0K) | ($990.0K) | ($819.0K) | ($891.0K) |
| Comprehensive loss attributable to common stockholders | ($48.9M) | ($14.1M) | ($137.2M) | ($19.3M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY |
|---|---|---|---|
| Cash and cash equivalents | $182.4M | $72.6M | $253.3M |
| Restricted cash | $81.2M | $4.0M | $22.4M |
| Accounts receivable | $84.5M | — | — |
| Government grants receivable, net | $36.4M | — | — |
| Inventory | $116.0M | $274.5M | — |
| Advances to suppliers | $137.5M | $164.8M | — |
| Other current assets | $6.0M | $2.3M | $34.0M |
| Current assets of discontinued operations | $19.4M | $64.9M | — |
| Total current assets | $663.5M | $583.2M | $312.0M |
| Restricted cash | $7.1M | — | — |
| Property and equipment, net | $302.3M | $285.2M | $366.4M |
| Goodwill | $57.4M | $74.5M | — |
| Intangible assets, net | $180.5M | $281.9M | $2.8M |
| Right-of-use asset under operating leases | $151.2M | $111.1M | $24.5M |
| Other assets | $10.1M | — | $4.3M |
| Total assets | $1.4B | $1.3B | $732.2M |
| Accounts payable | $91.3M | $114.2M | $18.1M |
| Accrued liabilities and other | $47.2M | $91.3M | $30.8M |
| Deferred revenue | $56.7M | $48.2M | — |
| Derivative liabilities | $11.7M | $14.9M | — |
| Current portion of long-term debt | $46.4M | $94.4M | — |
| Accounts payable and accrued liabilities - related parties | $162.8M | — | — |
| Current liabilities of discontinued operations | $47.5M | $51.0M | — |
| Total current liabilities | $463.6M | $414.0M | $49.2M |
| Long-term deferred revenue | $48.2M | $32.0M | — |
| Convertible note - related party | $153.0M | $80.7M | — |
| Operating lease liability | $143.5M | $101.8M | $18.8M |
| Long-term debt | $190.8M | $427.2M | — |
| Deferred tax liability | $3.8M | $21.2M | — |
| Other long-term liabilities | $47.4M | $21.8M | $27.4M |
| Total liabilities | $1.1B | $1.1B | $97.5M |
| Redeemable preferred stock | $71.5M | — | — |
| Common stock, $0.01 par value, 266,267 and 155,928 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 2.7M | 1.6M | 1.4M |
| Additional paid-in capital | $1.4B | $971.4M | $925.6M |
| Accumulated other comprehensive loss | ($18.2M) | ($59.0M) | ($18.8M) |
| Accumulated deficit | ($1.1B) | ($725.2M) | ($275.0M) |
| Total equity | $250.4M | $188.8M | $634.7M |
| Total liabilities, redeemable preferred stock and equity | $1.4B | $1.3B | $732.2M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $79.1M | $46.4M | $34.1M | $8.5M |
| Restricted cash | $70.2M | $70.2M | $45.4M | $31.1M |
| Accounts receivable trade, net - related parties | $98.6M | $100.0M | $78.9M | $34.6M |
| Government grants receivable, net | $95.4M | $77.8M | $93.1M | $44.7M |
| Inventory | $228.8M | $128.9M | $252.0M | $326.2M |
| Advances to suppliers | $133.2M | $139.1M | $140.0M | $146.1M |
| Other current assets | $38.6M | $10.5M | $204.0K | $2.4M |
| Current assets of discontinued operations | $7.2M | $11.8M | $51.6M | $51.0M |
| Total current assets | $751.2M | $584.7M | $695.2M | $644.5M |
| Restricted cash | $7.1M | $7.1M | $7.2M | $7.2M |
| Property and equipment, net | $430.4M | $346.0M | $289.8M | $296.7M |
| Goodwill | $57.4M | $57.4M | $60.9M | $60.9M |
| Intangible assets, net | $157.8M | $169.1M | $191.9M | $256.6M |
| Right-of-use asset under operating leases | $218.3M | $162.8M | $151.0M | $148.0M |
| Other assets | $20.0M | $9.9M | — | — |
| Total assets | $1.6B | $1.3B | $1.4B | $1.4B |
| Accounts payable | $102.3M | $96.5M | $69.1M | $203.8M |
| Accrued liabilities and other | $86.1M | $64.7M | $31.1M | $63.4M |
| Deferred revenue | $150.4M | $90.0M | $77.4M | $90.9M |
| Derivative liabilities | $1.4M | $1.1M | $0 | $805.0K |
| Current portion of long-term debt | $49.6M | $48.2M | $120.1M | $113.3M |
| Accounts payable and accrued liabilities - related parties | $125.7M | $109.0M | $277.5M | — |
| Current liabilities of discontinued operations | $62.0M | $56.4M | $40.4M | $39.6M |
| Total current liabilities | $577.5M | $465.9M | $615.6M | $511.8M |
| Long-term deferred revenue | $48.2M | $48.2M | $28.0M | $28.0M |
| Convertible notes | $329.0M | $153.4M | $47.3M | $80.7M |
| Operating lease liability | $206.2M | $154.1M | $141.5M | $139.6M |
| Long-term debt | $171.4M | $176.8M | $379.9M | $397.3M |
| Deferred tax liability | $3.5M | $3.2M | $1.8M | $14.2M |
| Other long-term liabilities | $31.3M | $26.3M | $26.2M | $8.2M |
| Total liabilities | $1.4B | $1.0B | $1.2B | $1.2B |
| Redeemable preferred stock | $73.5M | $72.5M | $58.8M | $50.2M |
| Common stock, $0.01 par value, 280,604 and 266,267 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 2.8M | 2.8M | 1.7M | 1.6M |
| Additional paid-in capital | $1.4B | $1.4B | $1.0B | $975.2M |
| Accumulated other comprehensive loss | ($15.2M) | ($10.9M) | ($15.8M) | ($19.4M) |
| Accumulated deficit | ($1.2B) | ($1.1B) | ($903.9M) | ($773.4M) |
| Total equity | $201.8M | $236.7M | $96.9M | $183.9M |
| Total liabilities, redeemable preferred stock and equity | $1.6B | $1.3B | $1.4B | $1.4B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY |
|---|---|---|---|
| Net loss | ($367.8M) | ($450.6M) | ($73.1M) |
| Share-based compensation expense | $11.4M | $7.8M | $11.6M |
| Depreciation and amortization | $93.3M | $10.5M | $3.3M |
| Impairment of intangible assets | $54.8M | — | — |
| Impairment of assets previously classified as held for sale | $16.1M | — | — |
| Change in valuation allowance | $8.2M | — | — |
| Reduction in the carrying amount of long-term investments due to license termination | $0 | $21.0M | — |
| Change in fair value of derivative liabilities | $31.2M | $14.9M | — |
| Loss on debt extinguishment | $8.8M | — | — |
| Loss on settlement of derivative liability | $5.8M | — | — |
| Gain on sale of property and equipment | ($5.7M) | — | — |
| Amortization of debt issuance costs, premium and discount | $14.6M | — | — |
| Reduction in the carrying amount of right-of-use assets | $6.4M | $2.0M | $1.4M |
| Warrant liability fair value adjustment | $8.4M | $1.3M | ($31.8M) |
| Deferred income taxes | ($14.0M) | ($22.2M) | — |
| Foreign currency transaction net unrealized loss (gain) | ($303.0K) | — | — |
| Other | $4.3M | $838.0K | $469.0K |
| Accounts receivable trade, net - related parties | ($77.2M) | — | — |
| Government grants receivable, net | ($35.7M) | — | — |
| Inventory | $158.5M | — | — |
| Other assets | ($5.1M) | — | — |
| Advances to suppliers and other current assets | $19.5M | — | — |
| Accounts payable, accrued liabilities and other | $135.1M | $10.0M | $20.0M |
| Deferred revenue | $24.8M | — | — |
| Net cash provided by (used in) operating activities | $95.5M | ($102.8M) | ($87.9M) |
| Proceeds from the return of property and equipment deposits | $1.2M | $22.7M | — |
| Purchases of property and equipment | ($78.8M) | ($50.8M) | ($187.8M) |
| Proceeds from the sale of property and equipment | $50.0M | — | — |
| Purchase of equity investment | ($5.0M) | — | — |
| Business acquisition, net of cash acquired | $0 | ($109.6M) | — |
| Net cash used in investing activities | ($32.6M) | ($137.7M) | ($187.0M) |
| Proceeds from issuance of redeemable preferred shares, net of issuance costs | 49.8M | 50.0M | 0 |
| Repayment of Senior Secured Credit Facility | ($42.9M) | — | — |
| Extinguishment of long-term debt - related party | ($240.9M) | — | — |
| Proceeds from issuance of Convertible Notes, net of underwriting fees | $154.2M | — | — |
| Payment of debt issuance costs | ($8.1M) | — | — |
| Payment for non-controlling interest | $0 | ($4.1M) | — |
| Equity-based compensation tax withholding | ($101.0K) | — | — |
| Proceeds from Common Stock Offering, net of underwriting fees | $219.8M | — | $0 |
| Payment of costs related to equity offerings | ($1.9M) | — | — |
| Net cash provided by financing activities | $129.9M | $45.9M | $0 |
| Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash | $1.3M | ($4.4M) | ($12.4M) |
| Net decrease in cash, cash equivalents, and restricted cash | $194.1M | ($199.1M) | ($287.3M) |
| Cash, cash equivalents, and restricted cash at beginning of period | $76.6M | $275.7M | $563.0M |
| Cash, cash equivalents, and restricted cash at end of period | $270.8M | $76.6M | $275.7M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($64.0M) | ($20.4M) | ($178.7M) | ($48.1M) |
| Share-based compensation expense | $8.5M | $2.7M | $7.1M | $5.2M |
| Depreciation and amortization | $50.1M | $25.1M | $68.6M | $43.6M |
| Impairment of intangible assets | $0 | — | $53.2M | — |
| Impairment of assets previously classified as held for sale | $0 | $0 | — | — |
| Change in valuation allowance | $15.4M | $15.4M | — | — |
| Change in fair value of derivative liabilities | ($14.5M) | ($20.0M) | $4.6M | ($26.3M) |
| Gain on sale of property and equipment | $0 | $0 | ($5.7M) | ($5.7M) |
| Amortization of debt issuance costs, premium and discount | $3.7M | $1.9M | — | — |
| Reduction in the carrying amount of right-of-use assets | $4.7M | $2.1M | $5.0M | $3.3M |
| Warrant liability fair value adjustment | ($7.6M) | ($10.4M) | ($2.9M) | ($1.3M) |
| Deferred income taxes | ($234.0K) | ($536.0K) | ($19.4M) | ($7.0M) |
| Other | ($89.0K) | ($20.0K) | $1.7M | $2.9M |
| Accounts receivable trade | ($14.2M) | ($15.5M) | ($78.9M) | ($34.6M) |
| Government grants receivable, net | ($59.0M) | ($41.4M) | ($92.4M) | ($44.0M) |
| Inventory | ($112.7M) | ($12.9M) | $22.6M | ($51.7M) |
| Other assets | ($1.3M) | $183.0K | — | — |
| Advances to suppliers and other current assets | ($31.2M) | ($10.0M) | ($25.1M) | $29.9M |
| Accounts payable, accrued liabilities and other | $25.6M | ($22.3M) | $194.6M | $75.0M |
| Deferred revenue | $93.7M | $33.3M | $25.2M | $38.8M |
| Net cash used in operating activities | ($103.0M) | ($72.9M) | $52.5M | ($11.4M) |
| Issuance of notes receivable | ($8.6M) | — | — | — |
| Proceeds from the return of property and equipment deposits | $0 | $0 | $1.2M | $1.2M |
| Purchases of property and equipment | ($161.8M) | ($60.7M) | ($60.8M) | ($51.9M) |
| Proceeds from the sale of property and equipment | $0 | $0 | $50.0M | $50.0M |
| Net cash used in investing activities | ($170.4M) | ($60.7M) | ($9.6M) | ($741.0K) |
| Repayment of Senior Secured Credit Facility | ($18.8M) | ($13.6M) | — | — |
| Proceeds from issuance of Convertible Notes, net of underwriting fees | $175.7M | — | — | — |
| Exercise of Penny Warrants | $70.0K | $70.0K | — | — |
| Payment of debt issuance costs | ($912.0K) | $0 | ($3.8M) | ($3.8M) |
| Exercise of stock options | $6.8M | — | — | — |
| Cash paid for equity repurchases for equity-based compensation tax withholding | ($3.8M) | — | — | — |
| Net cash (used in) provided by financing activities | $159.1M | ($13.6M) | ($33.6M) | ($18.6M) |
| Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash | ($72.0K) | $45.0K | $783.0K | $777.0K |
| Net decrease in cash, cash equivalents, and restricted cash | ($114.3M) | ($147.1M) | $10.1M | ($30.0M) |
| Cash, cash equivalents, and restricted cash at beginning of period | $270.8M | $270.8M | $76.6M | $76.6M |
| Cash, cash equivalents, and restricted cash at end of period | $156.4M | $123.7M | $86.7M | $46.7M |
| Cash and cash equivalents | $79.1M | $46.4M | $34.1M | $8.5M |
| Restricted cash | $77.3M | $77.3M | $52.6M | $38.2M |
| Cash, cash equivalents, and restricted cash | $156.4M | $123.7M | $86.7M | $46.7M |
T1 Energy Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.