T1 Energy Inc. Files Q2 2025 10-Q

TL;DR

T1 Energy (fka FREYR Battery) filed its Q2 2025 10-Q. Financials updated.

AI Summary

T1 Energy Inc. filed its 10-Q for the period ending June 30, 2025. The company, formerly known as FREYR Battery, Inc. /DE/, is incorporated in Delaware and operates in the semiconductors & related devices sector. The filing covers the period from January 1, 2025, to June 30, 2025, and includes financial data as of June 30, 2025, and December 31, 2024.

Why It Matters

This filing provides investors with an update on T1 Energy Inc.'s financial performance and position for the second quarter of 2025, crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant performance changes or risks, but it does not inherently signal a high-risk event.

Key Numbers

• 20250630 — Period End Date (Financial reporting period)
• 20250819 — Filing Date (Date the report was submitted to the SEC)
• 2024-12-31 — Previous Year End Date (Comparison point for financial data)

Key Players & Entities

• T1 Energy Inc. (company) — Filer
• FREYR Battery, Inc. /DE/ (company) — Former company name
• 20250630 (date) — Period of report
• 20250819 (date) — Filing date
• 3674 (number) — Standard Industrial Classification (Semiconductors & Related Devices)

FAQ

Key Financial Figures

• $11.50 — of Common Stock at an exercise price of $11.50 TE WS The New York Stock Exchange I

Filing Documents

• t1-20250630.htm (10-Q) — 1038KB
• ex311-q22025.htm (EX-31.1) — 12KB
• ex312-q22025.htm (EX-31.2) — 12KB
• ex321-q22025.htm (EX-32.1) — 6KB
• ex322-q22025.htm (EX-32.2) — 6KB
• t1-20250630_g1.jpg (GRAPHIC) — 2KB
• 0001992243-25-000033.txt ( ) — 6575KB
• t1-20250630.xsd (EX-101.SCH) — 42KB
• t1-20250630_cal.xml (EX-101.CAL) — 95KB
• t1-20250630_def.xml (EX-101.DEF) — 292KB
• t1-20250630_lab.xml (EX-101.LAB) — 615KB
• t1-20250630_pre.xml (EX-101.PRE) — 461KB
• t1-20250630_htm.xml (XML) — 774KB

- Financial Information

Part I - Financial Information 1 Item 1.

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- Other Information

Part II - Other Information 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 27

Signatures

Signatures 28 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS We make forward-looking statements in this Quarterly Report on Form 10-Q (this "Report") and in documents incorporated herein by reference. All statements, other than statements of present or historical fact included in or incorporated by reference in this Report, regarding T1 Energy Inc.'s future financial performance, as well as our strategy, system of internal control over financial reporting (including any future effectiveness or related remediation plans thereof), future liquidity requirements, financial position, long-term operating plan, estimated revenues and losses, projected costs, expected cash spending, planned capital expenditures, prospects, plans, estimates and objectives of management are forward-looking statements. When used in this Report, the words "anticipate", "believe", "continue", "could", "estimate", "expect", "intends", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "will", "would", the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to our business. These forward-looking statements are based on information available as of the date of this Report, and current expectations, forecasts, and assumptions, and involve a number of risks and uncertainties. Accordingly, forward-looking statements in this Report and in any document incorporated herein by reference shou

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. T1 ENERGY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 8,451 $ 72,641 Restricted cash 31,054 4,004 Accounts receivable trade, net - related parties 34,584 — Government grants receivable, net 44,657 687 Inventory 326,222 274,549 Advances to suppliers 146,107 164,811 Other current assets 2,402 1,569 Current assets of discontinued operations 51,048 64,909 Total current assets 644,525 583,170 Restricted cash 7,159 — Property and equipment, net 296,729 285,187 Goodwill 60,923 74,527 Intangible assets, net 256,575 281,881 Right-of-use asset under operating leases 147,991 111,081 Total assets $ 1,413,902 $ 1,335,846 LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 73,167 $ 61,708 Accrued liabilities and other 63,354 91,346 Deferred revenue 90,943 48,155 Derivative liabilities 805 14,905 Current portion of long-term debt 46,758 42,867 Current portion of long-term debt - related party 66,500 51,500 Payables to related parties 130,654 52,534 Current liabilities of discontinued operations 39,616 51,009 Total current liabilities 511,797 414,024 Long-term deferred revenue 28,000 32,000 Convertible note - related party 80,698 80,698 Operating lease liability 139,624 101,787 Long-term debt 166,371 188,316 Long-term debt - related party 230,880 238,896 Deferred tax liability 14,233 21,227 Other long-term liabilities 8,236 21,761 Total liabilities 1,179,839 1,098,709 Commitments and contingencies Redeemable preferred stock Convertible series A preferred stock, $ 0.01 par value, 5,000 issued and outstanding as of both June 30, 2025 and December 31, 2024 (includes accrued dividends and accretion of $ 1,869 and $ 87 as of June 30, 2025 and December 31, 2024, respectively) 50,157 48,375 Stockholders' equity: Common st

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View this 10-Q filing on SEC EDGAR