Tecnoglass Inc. Segments Disclosure
Note 5. Segment and Geographic Information
The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment. The segment comprises the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window products sold to residential and commercial markets. The following table presents geographical information about external customers. Geographical information is based on the location where the customer is located.
| Twelve months ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Colombia | $ | 31,691 | $ | 25,025 | $ | 25,103 | ||||||
| United States | 932,931 | 849,904 | 795,063 | |||||||||
| Panama | 760 | 1,158 | 1,382 | |||||||||
| Other | 18,228 | 14,094 | 11,717 | |||||||||
| Total revenues | $ | 983,610 | $ | 890,181 | $ | 833,265 | ||||||
The following table presents revenues from external customer by product groups.
| Years ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Glass and framing components | $ | 61,407 | $ | 80,179 | $ | 81,497 | ||||||
| Windows and architectural systems | 922,203 | 810,002 | 751,768 | |||||||||
| Total revenues | $ | 983,610 | $ | 890,181 | $ | 833,265 | ||||||
During the year ended December 31, 2025, 2024, and 2023, no single customer accounted for more than 10% of our revenues.
The accounting policies of the single segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker (“CODM”) assesses performance and decides how to allocate resources based on gross profit and net income that also is reported on the income statement as consolidated net income, cash flows from operations which are reported on the consolidated statement of cash flows, along with certain non-G.A.A.P metrics. These metrics are used to monitor budgeted versus actual results, and competitive analysis by benchmarking to the Company’s competitors. Significant segment expenses include cost of sales, selling expense, and general and administrative expenses. Other segment items included in consolidated net income are interest expense, other expense, net and the provision for income taxes, which are reflected in the consolidated statements of comprehensive income. The Company’s CODM are the CEO and COO together as a group.
The Company performs intra-entity sales and transfers within its single segment comprised of several vertically integrated processes including its main manufacturing operations in Colombia and distribution and installation in the United States. The Company considers its operations to be a single reporting segment because it only produces architectural glass and window systems to serve similar markets in a vertically integrated platform.
The measure of segment assets is reported on the balance sheet as total consolidated assets.
The Company’s long-lived assets are distributed geographically as follows:
| Year ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Colombia | $ | 432,942 | $ | 384,090 | ||||
| Panamá | 20 | |||||||
| United States | 172,635 | 72,243 | ||||||
| Total long-lived assets | $ | 605,577 | $ | 456,353 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Mar 16, 2022 | |
| 2020 | Mar 8, 2021 | |
| 2019 | Mar 6, 2020 | |
| 2018 | Mar 8, 2019 | |
| 2017 | Mar 14, 2018 | |
| 2016 | Mar 10, 2017 | |
| 2015 | May 31, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.