Overview
- Shares rose 13% in premarket trading following Tuesday's earnings release that beat revenue and loss estimates.
- T1 reported $177.65 million in Q1 revenue, a net loss of $0.08 per share, and adjusted EBITDA of $9.13 million driven by stronger output and more fixed‑margin and cost‑plus contracts.
- The 2.1‑gigawatt G2_Austin cell plant remains on schedule for first production in the fourth quarter of 2026, with concrete work underway and steel installation starting in May.
- After raising about $174.7 million from April convertible notes, the company pegs a $225 million need to complete G2 Phase 1 and expects a comprehensive funding package in the second quarter.
- Management kept 2026 production guidance at 3.1–4.2 GW and said 2027–2028 customer interest exceeds expected capacity, while flagging risks from policy decisions and grid interconnection delays.