Tecnoglass Holdings Inc.

investors.tecnoglass.com

What Do They Do?

Manufactures and installs architectural glass and aluminum and vinyl windows for developers, contractors and installers serving commercial and residential construction.

How Do They Make Money?

The company sells glass and window products in one-time sales; real estate general contractors are invoiced as specified supply-and-installation work progresses.

revenue

Segment	Share	Revenue	How money arrives
Fixed Price Contracts Recurring	27% FY2022: 14%		Recurring
Product Sales Sold outright	73% FY2022: 86%		Sold outright

Who Are Their Customers?

Architects, building owners, general contractors and glazing contractors buy for commercial construction projects; developers and installers also serve residential construction. Company and independent sales representatives market products, and Tecnoglass also sells directly to distributors.

Do Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.

Operating income, FY2025

23% of revenue

▲ +2% vs FY2024 ($227M, 26%)

Net income, FY2025

16% of revenue

▼ −1% vs FY2024 ($161.3M, 18%)

Free cash flow, FY2025

4% of revenue

▼ −62% vs FY2024 ($91M, 10%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +16%; vs $255.5M in Q2 FY2025
Net income: ▼ −44%; vs $44.1M in Q2 FY2025

Product Sales share of revenue vs 76.0% in Q2 FY2025

Jul 7, 2026 Moved its incorporation from the Cayman Islands to Florida The company moved from the Cayman Islands to Florida; its common stock continued trading on the New York Stock Exchange as TGLS.

Growing. Revenue grew 98% in 4 years, from $496.8M in FY2021 to $983.6M in FY2025, about 19% a year.

Vinyl windows added The older report describes architectural glass, windows and aluminum products; the latest report says the company entered the vinyl window market, adding vinyl windows to its range.

Revenue over time

Fixed Price Contracts Product Sales

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Viracon, PGT, Cardinal Glass, Oldcastle Glass, Vitro, and Vitelco

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