T1 Energy Narrows Q3 2026 Loss, Sets Preliminary 2027 G1 Production Plan

The Tip Desk · November 12, 2026 · 4 min read

The solar maker reported $196.6 million in third-quarter 2026 net sales and a $16.4 million Adjusted EBITDA loss after building 326 MW of module inventory for 2027 offtakes.

T1 Energy Inc. (TE) reported third-quarter 2026 net sales of $196.6 million and a net loss from continuing operations of $34.7 million, compared with a $130.8 million loss a year earlier. The company said it is planning 5.3 GW of G1_Dallas module production in 2027, a preliminary target the company said assumes the Dallas plant is sold out of capacity for the full year.

The energy solutions provider tightened full-year 2026 G1_Dallas production guidance to 4.0–4.2 GW, at the high end of its prior 3.1–4.2 GW range, and said the update is consistent with contracted fourth-quarter customer demand and imported cell availability.

In the third quarter of 2026, T1 produced 1,056 MW of modules at G1_Dallas, the second-highest quarterly run-rate in the company’s history, and built 326 MW of module inventory to facilitate 2027 deliveries under recently signed offtake contracts. Total net sales were $196.6 million.

The company reported a net loss from continuing operations of $34.7 million, or $(0.12) a share, compared with $130.8 million, or $(0.87) a share, a year earlier. Net loss attributable to common stockholders was $41.6 million, or $(0.14) a share. Gross profit was $16.7 million and gross margin was 8.5%. Adjusted EBITDA was a loss of $16.4 million. T1 said the quarter’s results reflect higher facilities-related costs from increased inventory production and higher SG&A. SG&A expense was $71.2 million, which the company attributed to growth in technical and operational headcount and higher financing, transaction and legal expenses.

Net sales to related parties were $189.9 million.

Following the Commerce Department’s Section 232 proclamation supporting domestic polysilicon, T1 said it signed new offtake contracts totaling more than 1.58 GW of advanced solar modules, including a 641 MW deal with Clearway Energy Group announced in August to supply modules built with domestic cells from G2_Austin. Through its latest offtake contracts, including with independent power producer Avantus, the company expects to supply TOPCon modules from G1_Dallas in 2027 and 2028 using a blend of imported cells and domestically produced cells from G2_Austin. T1 now has more than 3.5 GW of its 2027 manufacturing capacity under contract for scheduled 2027 deliveries.

Based on conversations with Tier 1 customers, indicative demand, and the newly signed offtakes, T1 said it believes it may sell out of its 5 GW capacity at G1_Dallas for 2027 at attractive prices and terms, subject to contract execution and continued demand. Chief Executive Officer Dan Barcelo said pricing and demand for G1_Dallas modules has improved meaningfully after the proclamation.

On October 22, 2026, T1 said it received a Commerce Department waiver to import up to 1.725 GW of solar cells to support uninterrupted manufacturing at G1_Dallas while construction continues on the 2.1 GW Phase 1 of the G2_Austin cell fab in Rockdale, Texas.

During the third quarter, T1 completed the primary steel structure at G2_Austin and took delivery of all remaining Phase 1 production line equipment at U.S. ports. MEP installation began in September. The company said it intends to temporarily match the pace of capital spending at G2_Austin with the expected timeline to close a comprehensive financing solution. T1 is in negotiations with certain institutional investors under exclusivity to finalize that financing, which may include additional equity or equity-linked securities. Closing the package remains the company’s top priority, with no assurance definitive documents will be agreed or the financing completed on acceptable terms.

On September 30, 2026, T1 completed a private placement of $50 million of 4.75% convertible senior notes due 2031, generating $50.4 million of gross proceeds as a bridge to the G2_Austin financing. Convertible notes outstanding were $495.1 million as of September 30, 2026. Cash, cash equivalents and restricted cash were $137.0 million as of September 30, 2026, of which $59.5 million was unrestricted. Inventory was $335.4 million.

T1 said it has generated $155.3 million of Section 45X production tax credits through the third quarter of 2026 and is advancing conversations to monetize them. The company also signed a non-binding letter of intent to explore repurposing its Nordic Giga Arctic asset as a data center, under which a partner would finance capital expenditures and secure a tenant or compute offtaker.