- Single-Family Residential Business and Multi-Family/Commercial Business Each Achieved Record Quarterly Revenues Through Market Share Gains and Geographic Expansion -

- Net Income of $47.2 Million, or $1.01 Per Diluted Share, Marking the Second Most Profitable Quarter in the History of the Company -

- Adjusted Net Income ¹ of $46.7 Million, or $1.00 Per Diluted Share -

- Adjusted EBITDA ¹ of $79.1 Million, Representing 30.4% of Total Revenues -

- Strong Balance Sheet for Disciplined Capital Deployment with Record Total Liquidity of $550 Million Through the Refinance and Expansion of Committed Credit Facility Plus Cash in Hand -

- Backlog Expanded 21.4% Year-Over-Year to a Record $1.3 Billion -

- Repurchased $30 Million in Shares and Paid $7 Million in Dividends, Returning a Significant Amount of Capital to Shareholders During the Quarter -

- Announces Expansion of Share Repurchase Program to $150 Million, Backed by Strong Balance Sheet for Disciplined Deployment and Value Creation -

- Updates Full Year 2025 Financial Guidance, Reinforcing Expectation to Broadly Outpace Industry Performance with Double-Digit Revenue Growth in 2025 and 2026 -

Miami, FL, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Tecnoglass, Inc. (NYSE: TGLS) (“Tecnoglass” or the“Company”), a leading producer of high-end aluminum and vinyl windows and architectural glass for the global residential and commercial end markets, today reported financial results for the third quarter ended September 30, 2025.

José Manuel Daes, Chief Executive Officer of Tecnoglass, commented,“We delivered exceptional third quarter results that showcase our team's operational excellence and strategic execution in a dynamic market environment. Record revenues and continued market share gains across both our residential and multi-family/commercial businesses underscore the strength of our business model and advantageous positioning. The early benefits from our residential pricing initiatives are materializing as planned, helping to offset elevated aluminum costs, certain tariffs and a stronger local currency while sustaining our industry-leading margins. Despite foreign exchange headwinds and an unfavorable revenue mix, we sustained very strong profitability and generated robust cash flow through disciplined operational execution. Our solid capital position enabled us to return significant value to shareholders and further expand our share repurchase program this quarter, demonstrating our commitment to balanced capital allocation that rewards shareholders while preserving strategic flexibility. With our record backlog providing strong visibility and multiple growth initiatives advancing, we are well-positioned to continue capturing market share and creating long-term value.”

Christian Daes, Chief Operating Officer of Tecnoglass, added,“Third quarter results remained healthy across our portfolio, with increased residential order activity given our dealership expansion and continued momentum in multi-family and commercial markets. Our expanding dealer network and geographic reach continue to drive market share gains in key regions. We are particularly pleased to report another record backlog of $1.3 billion, providing excellent visibility into our multi-family/commercial pipeline through 2026. The opening of our California showroom in the fourth quarter represents an important milestone in our West Coast expansion strategy, where we are already seeing encouraging order momentum, and we continue to advance our feasibility study for a new fully automated facility in Florida. Our vertically integrated platform and ongoing investments in product innovation, including our expanding vinyl product portfolio, position us to capitalize on growth opportunities while maintaining operational agility. As we progress through the remainder of the year, we remain focused on executing our growth strategy and delivering superior value to our customers.”

Third Quarter 2025 Results

Total revenues for the third quarter of 2025 increased 9.3% to a record $260.5 million, compared to $238.3 million in the prior year quarter. Multi-family/commercial revenues grew 14.3% year-over-year driven by strong organic activity within key markets and, to a lesser extent, from the Continental Glass asset acquisition in March 2025. Single-family residential revenues increased 3.4% year-over-year, attributable to previously implemented pricing initiatives, market share gains from geographic expansion, and broader product offerings. Changes in foreign currency exchange rates contributed $0.2 million to total revenues in the quarter.

Gross profit for the third quarter of 2025 was $111.3 million, representing a 42.7% gross margin, compared to gross profit of $109.2 million, representing a 45.8% gross margin, in the prior year quarter. The year-over-year change in gross margin reflected unfavorable revenue mix on a higher amount of installation revenue, higher raw material cost related to all-time high premiums for U.S. aluminum, and a revaluation of the Colombian Peso during the quarter.

Selling, general and administrative expense (“SG&A”) was $47.3 million for the third quarter of 2025 compared to $41.5 million in the prior year quarter, with the increase partly attributable to approximately $3.1 million in aluminum tariffs on standalone component sales. Additionally, we incurred higher transportation and commission expenses associated with the revenue growth in the quarter and higher personnel expenses associated with annual salary adjustments at the beginning of the year. As a percent of total revenues, SG&A was 18.2% for the third quarter of 2025 compared to 17.4% in the prior year quarter, primarily due to the aforementioned factors.

Net income was $47.2 million, or $1.01 per diluted share, in the third quarter of 2025 compared to net income of $49.5 million, or $1.05 per diluted share, in the prior year quarter, including a non-cash foreign exchange transaction gain of $1.9 million in the third quarter of 2025 and a gain of $0.9 million in the third quarter of 2024. These non-cash gains are related to the accounting re-measurement of U.S. Dollar denominated assets and liabilities against the Colombian Peso as functional currency.

Adjusted net income ¹ was $46.7 million, or $1.00 per diluted share, in the third quarter of 2025 compared to adjusted net income ¹ of $50.9 million, or $1.08 per diluted share, in the prior year quarter. Adjusted net income ¹, as reconciled in the table below, excludes the impact of non-cash foreign exchange transaction gains or losses and other non-core items, along with the tax impact of adjustments at statutory rates, to better reflect core financial performance.

Adjusted EBITDA ¹, as reconciled in the table below, was $79.1 million, or 30.4% of total revenues, in the third quarter of 2025, compared to $81.4 million, or 34.2% of total revenues, in the prior year quarter. The change was primarily attributable to the aforementioned factors impacting gross margin. Adjusted EBITDA ¹ in the third quarter of 2025 included a $0.6 million contribution from the Company's joint venture with Saint-Gobain, compared to $2.1 million in the prior year quarter.

Cash Generation, Capital Allocation and Liquidity

Cash provided by operating activities for the third quarter of 2025 was $40.0 million, primarily driven by increased profitability on higher revenues and efficient working capital management, which more than offset incremental inventory purchases of US aluminum. Capital expenditures of $18.8 million in the quarter included scheduled payments on previous investments.

During the third quarter, the Company returned capital to shareholders through an aggregate of $30.0 million in share repurchases and $7.0 million in cash dividends.

In November 2025, the Company's Board of Directors authorized the expansion of the Company's share repurchase authorization to $150.0 million to execute during opportunistic times. This further reflects the Board's confidence in continued cash flow generation capabilities, prudent balance sheet management, and a commitment to delivering superior returns to shareholders while maintaining ample financial flexibility to execute on our growth initiatives. Management will have discretion in the repurchase of common shares, including the timing and amount to be repurchased. Following the expansion, the Company had approximately $96.5 million remaining under its existing share repurchase program.

Given the Company's strong cash generation, it ended the third quarter of 2025 with total liquidity of approximately $550.0 million, including $124.0 million of cash and cash equivalents and $425.0 million of availability under its revolving credit facilities, and total debt of $111.9 million.

As previously announced, the Company continues to work through a feasibility study to build out a new state of the art facility in the US, narrowing its search to two potential locations in Florida. The plant will be fully automated and is expected to address all future growth needs beyond current installed capacity. In addition to diversifying the Company ́s operational footprint, the new plant is expected to yield advantages in lead-times, transportation costs and supply chain efficiencies.

Full Year 2025 Guidance

Santiago Giraldo, Chief Financial Officer of Tecnoglass, stated,“Based on our solid performance year-to-date and expectations for the fourth quarter, we are updating our expectations for the full year 2025. We now expect revenues to be in the range of $970 million to $990 million, reflecting growth of approximately 10% at the midpoint. We are also updating our Adjusted EBITDA1 guidance to a range of $294 million to $304 million, representing approximately 8% growth at the midpoint. We are reaping the benefit of our pricing initiatives and other cost mitigation efforts in response to elevated input costs and tariffs on select products. Our revised guides incorporates higher than previously anticipated aluminum costs and US aluminum premiums as well as the impact of the recent revaluation of the Colombian Peso. With an expanding multi-year backlog and sustained record of market outperformance, we continue to gain share and position our company to achieve double-digit revenue growth into 2026.”

Webcast and Conference Call

Management will host a webcast and conference call on November 6, 2025, at 10:00 a.m. Eastern time to review the Company's results. The conference call will be broadcast live over the Internet. Additionally, a slide presentation will accompany the conference call. To listen to the call and view the slides, please visit the Investor Relations section of Tecnoglass' website at Please go to the website at least 15 minutes early to register, download and install any necessary audio software. For those unable to access the webcast, the conference call will be accessible by dialing 1-844-676-5131 (domestic) or 1-412-634-6589 (international). Upon dialing in, please request to join the Tecnoglass Third Quarter 2025 Earnings Conference Call.

If you are unable to listen live, a replay of the webcast will be archived on the website. You may also access the conference call playback by dialing 1-844-512-2921 (Domestic) or 1-412-317-6671 (International) and entering passcode: 10203748.

About Tecnoglass
Tecnoglass Inc. is a leading producer of high-end aluminum and vinyl windows and architectural glass serving the multi-family, single-family, and commercial end markets. Tecnoglass is the second largest glass fabricator serving the U.S. and the #1 architectural glass transformation company in Latin America. Located in Barranquilla, Colombia, the Company's 5.8 million square foot, vertically integrated, and state-of-the-art manufacturing complex provide efficient access to nearly 1,000 customers in North, Central and South America, with the United States accounting for 95% of total revenues. Tecnoglass' tailored, high-end products are found on some of the world's most distinctive properties, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de Cristal (Barranquilla). For more information, please visit or view our corporate video at .

Forward Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass' business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass' filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Tecnoglass' financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events and changes in assumptions or otherwise, except as required by law.

¹ Adjusted net income (loss) and Adjusted EBITDA in both periods are reconciled in the table below.

Investor Relations:

Santiago Giraldo / CFO
305-503-9062
...

Tecnoglass Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share and per share data)

Tecnoglass Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
(In thousands, except share and per share data)
(Unaudited)

Tecnoglass Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(In thousands) / (Unaudited)

Revenues by Region
(Amounts in thousands)
(Unaudited)

Reconciliation of Non-GAAP Performance Measures to GAAP Performance Measures
( In thousands )
(Unaudited)

The Company believes that total revenues with foreign currency held neutral, which are not performance measures under generally accepted accounting principles (“GAAP”), may provide users of the Company's financial information with additional meaningful bases for comparing the Company's current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. Management uses such performance measures in managing and evaluating the Company's business. However, these non‐GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company's reported results under accounting principles generally accepted in the United States.

Currency impacts on total revenues for the current quarter have been derived by translating current quarter revenues at the prevailing average foreign currency rates during the prior year quarter, as applicable.

Reconciliation of Adjusted EBITDA and Adjusted net (loss) income to net (loss) income
(In thousands, except share and per share data) / (Unaudited)

Adjusted EBITDA and adjusted net (loss) income are non-GAAP performance measures. Management believes Adjusted EBITDA and adjusted net (loss) income, in addition to operating profit, net (loss) income and other GAAP measures, are useful to investors to evaluate the Company's results because they exclude certain items that are not directly related to the Company's core operating performance. Investors should recognize that Adjusted EBITDA and adjusted net (loss) income might not be comparable to similarly-titled measures of other companies. These measures should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with GAAP.

Reconciliations of the non-GAAP measures used in this press release are included in the tables attached to this press release, to the extent available without unreasonable effort. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures. Items excluded to arrive at forward-looking non-GAAP measures may have a significant, and potentially unpredictable, impact on our future GAAP results.

Reconciliation of Free Cash Flow to Cash Provided by Operating Activities
(In thousands, except share and per share data) / (Unaudited)

The Company believes that free cash flow, which is not a performance measures under generally accepted accounting principles (“GAAP”), may provide users of the Company's financial information with additional meaningful bases for comparing the Company's current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. Management uses such performance measures in managing and evaluating the Company's business. However, these non‐GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company's reported results under accounting principles generally accepted in the United States.

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