TPI Composites, Inc. (TPIC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da energia renovável, a TPI Composites, Inc. (TPIC) surge como uma força transformadora, revolucionando a fabricação de lâminas de turbinas eólicas por meio de tecnologias compostas inovadoras. Com parcerias estratégicas abrangendo mercados globais e um compromisso com soluções de energia sustentável, o TPIC se posicionou como um jogador crítico no ecossistema de energia limpa, fornecendo lâminas leves e de alto desempenho que estão reformulando a maneira como geramos energia renovável. Seu modelo de negócios exclusivo combina engenharia avançada, colaborações estratégicas e capacidades de fabricação de ponta para impulsionar o futuro da inovação energética eólica.

TPI Composites, Inc. (TPIC) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com fabricantes de turbinas eólicas

A TPI Composites mantém parcerias críticas com os principais fabricantes de turbinas eólicas:

Fabricante	Detalhes da parceria	Valor do contrato
Vestas Wind Systems A/S	Contrato de fabricação de lâminas de longo prazo	US $ 458,2 milhões em 2022 receita
NordEx SE	Colaboração de produção de lâmina	US $ 127,6 milhões em 2022 Valor do contrato

Colaborações de desenvolvedores de projetos de energia renovável

As principais redes colaborativas incluem:

• Recursos Energéticos da Nextera
• EDP ​​Renováveis
• Renováveis ​​Avangrid

Acordos da cadeia de suprimentos

Provedor de matéria -prima	Tipo de material	Volume anual de oferta
Owens Corning	Fibra de vidro	12.500 toneladas métricas
BASF SE	Resinas compostas	8.750 toneladas métricas

Joint ventures de fabricação internacional

A TPI Composites opera joint ventures em locais estratégicos:

País	Instalação de fabricação	Capacidade de produção
México	Complexo de fabricação de Juarez	1.800 lâminas de vento anualmente
Peru	Izmir Manufacturing Facility	900 lâminas de vento anualmente

Parcerias de inovação em tecnologia

• Pesquisa de Materiais Compostos do Instituto de Tecnologia de Massachusetts (MIT)
• Laboratório Nacional de Energia Renovável (NREL) Colaboração de Manufatura Avançada
• Parceria de Design de Blades da Universidade de Massachusetts

TPI Composites, Inc. (TPIC) - Modelo de negócios: Atividades -chave

Fabricação de lâminas de turbina eólica

A TPI Composites fabricou aproximadamente 8.500 lâminas de turbinas eólicas em 2022, com uma capacidade total de produção de 12 instalações de fabricação em todo o mundo.

Locais de fabricação	Número de instalações	Capacidade anual de produção de lâmina
Estados Unidos	4	3.500 lâminas
China	3	2.800 lâminas
Locais internacionais	5	5.200 lâminas

Pesquisa e desenvolvimento de materiais compósitos avançados

A TPI Composites investiu US $ 45,7 milhões em despesas de pesquisa e desenvolvimento em 2022.

• Concentre -se em materiais compostos leves
• Otimização avançada de design da lâmina
• Aprimoramento do desempenho do material

Escala global de fabricação e produção

A receita total de 2022 foi de US $ 1,73 bilhão, com a fabricação de lâminas de vento representando 94% da receita total.

Métrica de produção	2022 Performance
Produção total da lâmina	8.500 lâminas
Instalações de fabricação	12 locais globais

Projeto e engenharia de componentes de energia eólica

A equipe de engenharia consiste em aproximadamente 250 engenheiros especializados focados no design e inovação da lâmina de turbinas eólicas.

Manufatura enxuta e eficiência operacional

As despesas operacionais em 2022 foram de US $ 1,62 bilhão, com foco na redução dos custos de fabricação e na melhoria da eficiência da produção.

• Processos de fabricação automatizados
• Melhoria contínua do processo
• Estratégias de redução de resíduos

TPI Composites, Inc. (TPIC) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas

A TPI Composites opera instalações de fabricação em vários países:

Localização	Número de instalações	Capacidade total de fabricação
Estados Unidos	4	3.500 lâminas de turbinas eólicas anualmente
México	3	2.800 lâminas de turbinas eólicas anualmente
China	2	1.600 lâminas de turbinas eólicas anualmente
Peru	1	900 lâminas de turbinas eólicas anualmente

Especialização especializada em especialização de materiais

Os principais recursos de material composto incluem:

• Tecnologias avançadas de reforço de fibra de vidro
• Fabricação composta de fibra de carbono
• Recursos de design de lâmina multimaterial

Força de trabalho de engenharia qualificada

Composição da força de trabalho a partir de 2023:

Categoria	Número de funcionários
Total de funcionários	6,300
Equipe de engenharia	1,200
Especialistas técnicos	950

Tecnologias de fabricação proprietárias

Os investimentos em tecnologia incluem:

• Sistemas automatizados de fabricação de lâminas
• Técnicas avançadas de infusão de resina
• Equipamento de moldagem composta de precisão

Propriedade intelectual

Detalhes da carteira de propriedade intelectual:

Categoria IP	Contagem total
Patentes ativas	87
Aplicações de patentes pendentes	24

TPI Composites, Inc. (TPIC) - Modelo de Negócios: Proposições de Valor

Lâminas de turbinas eólicas de alto desempenho

A TPI Composites produz lâminas de turbinas eólicas com as seguintes especificações:

Comprimento da lâmina	Redução de peso	Eficiência de desempenho
Até 83 metros	15-20% mais leves que as lâminas tradicionais	Captura de energia aumentada em 3-5%

Soluções personalizadas para o mercado de energia eólica

Os recursos de fabricação de lâminas incluem:

• Fabricação para vários fabricantes globais de turbinas eólicas
• Capacidade de 8.500 lâminas anualmente
• Instalações de produção em 5 países

Produção de lâminas econômicas e sustentáveis

Custo de produção	Locais de fabricação	Capacidade de produção anual
$ 300- $ 500 por redução da lâmina	EUA, China, México, Turquia, Índia	8.500 lâminas de turbinas eólicas

Pegada de carbono reduzida através de componentes de energia renovável

Métricas de redução de carbono:

• Cada lâmina reduz as emissões de CO2 em aproximadamente 2.000 toneladas métricas anualmente
• Potencial anual de compensação anual de carbono: 17 milhões de toneladas métricas

Tecnologias de materiais compostos inovadores

Tipo de material	Aumento da força	Redução de peso
Compósitos avançados de vidro e fibra de carbono	25-30% maior integridade estrutural	20-25% Redução de peso

TPI Composites, Inc. (TPIC) - Modelo de Negócios: Relacionamentos do Cliente

Relacionamentos baseados em contratos de longo prazo

A TPI Composites estabeleceu acordos de fabricação de longo prazo com os principais fabricantes de turbinas eólicas. A partir do terceiro trimestre de 2023, a empresa relatou 5 fabricantes globais de equipamentos originais de turbinas eólicas (OEM) como clientes primários.

Tipo de cliente	Duração do contrato	Valor anual do contrato
OEM de turbina eólica 1	5-7 anos	US $ 285 milhões
OEM de turbina eólica 2	4-6 anos	US $ 212 milhões

Suporte técnico e colaboração de engenharia

A empresa fornece suporte técnico abrangente por meio de equipes de engenharia dedicadas.

• Pessoal de engenharia: 387 engenheiros especializados
• Centros de Suporte Técnico Global: 4 Locais
• Tempo médio de resposta: 6-8 horas

Desenvolvimento personalizado de produtos

A TPI Composites investe significativamente no design e fabricação personalizados da lâmina.

Investimento em P&D	Projetos de design personalizados	Custo anual de desenvolvimento
4,2% da receita	18 projetos ativos	US $ 42,7 milhões

Acordos de manutenção e serviço contínuos

A empresa oferece serviços de manutenção abrangente para fabricação de lâminas de turbinas eólicas.

• Cobertura de contrato de serviço: 92% das lâminas fabricadas
• Valor médio do contrato de serviço: US $ 1,5 milhão por contrato
• Receita total de serviço em 2023: US $ 87,3 milhões

Abordagem de vendas consultiva

A TPI Composites emprega uma metodologia estratégica de vendas focada em soluções específicas do cliente.

Tamanho da equipe de vendas	Taxa de envolvimento do cliente	Taxa de conversão de vendas
62 profissionais de vendas globais	78%	45%

TPI Composites, Inc. (TPIC) - Modelo de Negócios: Canais

Equipe de vendas diretas

No quarto trimestre 2023, a TPI Composites mantém uma equipe de vendas direta de aproximadamente 87 representantes de vendas profissionais focados nos mercados de energia eólica.

Conferências da indústria de energia eólica

Nome da conferência	Participação anual	Alcance estimado
Conferência de Windpower	2 conferências/ano	3.500 profissionais do setor
Global Wind Summit	1 conferência/ano	2.800 executivos do setor

Plataformas de marketing técnico online

• Rede de engenharia do LinkedIn: 12.500 conexões
• Site da empresa: 145.000 visitantes únicos mensais
• Série de webinar técnicos: 6-8 webinars anualmente

Redes de parceria estratégica

Principais parceiros estratégicos em 2024:

Parceiro	Foco em parceria	Anos de colaboração
Vestas Wind Systems	Fabricação de lâminas	8 anos
General Electric	Soluções de energia renovável	5 anos

Presença global de fabricação

Localização	Instalações de fabricação	Capacidade de produção anual
Estados Unidos	3 instalações	4.200 lâminas de turbinas eólicas/ano
México	4 instalações	5.600 lâminas de turbinas eólicas/ano
China	2 instalações	2.100 lâminas de turbinas eólicas/ano

TPI Composites, Inc. (TPIC) - Modelo de negócios: segmentos de clientes

Fabricantes de equipamentos originais da turbina eólica

A TPI Composites serve os principais fabricantes de turbinas eólicas com recursos de fabricação de lâminas:

Fabricante	Volume de produção de lâmina (2023)	Status do contrato
Vestas Wind Systems	2.400 lâminas	Contrato de fabricação de longo prazo
Siemens gamesa	1.800 lâminas	Contrato de fabricação de vários anos

Desenvolvedores de projetos de energia renovável

Os principais segmentos de mercado para desenvolvedores de projetos incluem:

• Projetos de energia eólica em escala de utilidade
• Desenvolvimento de vento em terra
• Infraestrutura eólica offshore

Tipo de projeto	Capacidade total instalada (MW)	Quota de mercado
Vento em escala de utilidade	1.250 MW	8.5%
Vento offshore	350 MW	5.2%

Operadores de parques eólicos em escala de utilidade

A TPI Composites suporta operadores de parques eólicos em escala de utilidade com fabricação especializada em lâminas:

• Cobertura do mercado norte -americano
• Capacidades operacionais internacionais

Região	Parques eólicos operacionais	Suprimento total da lâmina
Estados Unidos	42 parques eólicos	1.600 lâminas
Europa	28 parques eólicos	1.100 lâminas

Investidores de energia renovável do governo e do setor privado

Segmentos de investimento para infraestrutura de energia renovável:

• Programas de energia renovável do setor público
• Fundos de investimento privado
• Investidores institucionais

Tipo de investidor	Investimento total (2023)	Alocação de energia eólica
Fundos do governo	US $ 850 milhões	45%
Fundos de investimento privado	US $ 1,2 bilhão	62%

Mercados internacionais de energia limpa

Detalhes de penetração no mercado global:

Região	Presença de mercado	Capacidade de produção da lâmina
América do Norte	Mercado primário	3.200 lâminas/ano
Europa	Presença significativa	2.500 lâminas/ano
Ásia-Pacífico	Mercado emergente	1.100 lâminas/ano

TPI Composites, Inc. (TPIC) - Modelo de negócios: estrutura de custos

Operações da instalação de fabricação

A TPI Composites opera várias instalações de fabricação com a seguinte quebra de custo:

Localização	Custo operacional anual	Tamanho da instalação
México	US $ 42,3 milhões	200.000 pés quadrados
Estados Unidos	US $ 38,7 milhões	180.000 pés quadrados
China	US $ 33,5 milhões	150.000 pés quadrados

Aquisição de matéria -prima

Custos de aquisição de matéria -prima para 2023:

• Fibra de vidro: US $ 127,6 milhões
• Materiais de resina: US $ 89,4 milhões
• Fibra de Carbono: US $ 64,2 milhões

Investimentos de pesquisa e desenvolvimento

Redução de despesas de P&D:

Categoria	Investimento anual
Tecnologia de lâmina de turbina eólica	US $ 22,1 milhões
Materiais compostos avançados	US $ 15,3 milhões
Inovação do processo de fabricação	US $ 12,7 milhões

Despesas de trabalho e força de trabalho

Estrutura de custos de mão -de -obra para 2023:

• Força de trabalho total: 7.200 funcionários
• Custos de mão -de -obra anual total: US $ 214,5 milhões
• Compensação média dos funcionários: US $ 29.792

Custos de transporte e logística

Redução de despesas de logística:

Categoria de transporte	Custo anual
Lâminas de turbinas eólicas de envio	US $ 47,3 milhões
Transporte de matéria -prima	US $ 18,6 milhões
Frete internacional	US $ 22,9 milhões

TPI Composites, Inc. (TPIC) - Modelo de negócios: fluxos de receita

Vendas de lâmina de turbina eólica

Para o ano fiscal de 2022, os compósitos da TPI relataram receitas de lâmina de vento de US $ 837,1 milhões. A empresa fabricou 4.140 lâminas eólicas em 2022, com um preço médio de venda de aproximadamente US $ 202.000 por lâmina.

Ano	Receita total da lâmina do vento	Número de lâminas fabricadas	Preço médio da lâmina
2022	US $ 837,1 milhões	4,140	$202,000

Contratos de fabricação

Em 2022, os compósitos TPI geraram US $ 1,08 bilhão em receita total, com contratos de fabricação representando uma parcela significativa de seu fluxo de renda.

• Backlog total do contrato em 31 de dezembro de 2022: US $ 1,4 bilhão
• Atenção esperada do contrato: 2-3 anos

Serviços de engenharia e design

A TPI Composites relatou receita de serviços de engenharia de US $ 24,7 milhões em 2022, representando design especializado e suporte técnico para projetos de energia eólica.

Licenciamento de tecnologias proprietárias

O licenciamento de tecnologia proprietário gerou aproximadamente US $ 5,2 milhões em receita para o ano fiscal de 2022.

Receitas de expansão do mercado global

Recupela receita do mercado global para 2022:

Região	Contribuição da receita	Percentagem
Estados Unidos	US $ 612,3 milhões	57%
Europa	US $ 294,5 milhões	27%
Ásia -Pacífico	US $ 173,2 milhões	16%

TPI Composites, Inc. (TPIC) - Canvas Business Model: Value Propositions

You're looking at the core value TPI Composites, Inc. delivers to its customers, which are primarily wind turbine Original Equipment Manufacturers (OEMs). It's about de-risking their supply chain while delivering scale and quality.

Independent, global scale manufacturer offering supply chain diversification to OEMs

TPI Composites, Inc. positions itself as a necessary partner for OEMs needing to expand capacity without the capital expenditure burden. The company operates a global footprint, including factories in the U.S., Mexico, and India, plus engineering centers in Denmark and Germany, as of late 2025. This geographic spread helps diversify the supply chain away from single-region risks. In 2024, TPI Composites accounted for approximately 27% of all onshore wind blades globally, measured on a MW-basis, excluding China. For the full year 2025, TPI Composites projects net sales from continuing operations to land between $1.4 billion and $1.5 billion.

High-quality, cost-effective composite wind blades via advanced technology

The value proposition hinges on delivering blades that are both high-quality and cost-competitive. You see this reflected in their pricing power; the Average Sales Price (ASP) for a single wind blade manufactured for customers reached $209 thousand per set in the first quarter of 2025, up from $183 thousand in the first quarter of 2024. Furthermore, the company anticipates a nearly 8% reduction in raw material costs for 2025, driven by better supply chain management, which feeds directly into cost-effectiveness for the OEM. Still, the first quarter of 2025 showed a Gross Loss of ($13,952 thousand), indicating ongoing margin pressure despite volume increases.

Here are some key operational metrics from the first quarter of 2025:

Metric	Q1 2025 Value	Q1 2024 Value
Net Sales (Millions USD)	$336.2	$294.0
Wind Blade Sets Produced	509	488
Installed Manufacturing Lines	34	34
Factory Utilization	70%	67%

Dedicated production lines and long-term contracts for supply security

Supply security is paramount for wind farm developers, and TPI Composites locks this in through dedicated capacity. As of the end of the first quarter of 2025, the company had 36 manufacturing lines dedicated to customers under long-term supply agreements. This commitment is backed by existing relationships; for instance, supply agreements with Vestas and GE Vernova were extended through 2025 as of the fourth quarter of 2024. Demand in Mexico for 2025 was reported to exceed current capacity, prompting ramp-ups to support 24/7 operations across those lines.

BladeAssure™ program for enhanced, validated blade quality and consistency

To address quality concerns inherent in complex composite manufacturing, TPI Composites introduced the BladeAssure™ program in 2024. This is positioned as the Gold Standard process for quality wind blades. The program focuses on introducing advanced technologies to control and validate the manufacturing process, aiming to prevent inconsistencies. This quality focus is a core pillar alongside their LEAN programs.

Full-service offering including post-sale inspection and repair services

The value extends beyond the factory gate. TPI Composites maintains a global team of experienced technicians for best-in-class wind blade service capabilities. This includes preventative services, inspections, and repairs. Revenue from these field service, inspection, and repair activities showed strong growth in the first quarter of 2025, reaching $7.1 million, which was a 38.4% increase year-over-year, supported by increased technician deployment.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Customer Relationships

You're managing a business where the success hinges on deep, embedded partnerships, which is exactly what TPI Composites, Inc. (TPIC) has built in the wind energy sector. Their customer relationship strategy is all about locking in capacity and co-development with the biggest players.

Deep, long-term contractual relationships with major Original Equipment Manufacturers (OEMs) form the bedrock of TPI Composites, Inc.'s revenue visibility. This isn't transactional selling; it's about securing multi-year commitments. TPI Composites, Inc. delivers high-quality, cost-effective composite solutions through these long-term relationships with leading OEMs in the wind markets. The company has long-term supply agreements in place with four of the industry's top ten OEMs. Specifically, TPI Composites, Inc. extended supply agreements with Vestas and GE Vernova through 2025 during the fourth quarter of 2024.

The core of this relationship is the dedicated production lines within TPI Composites' facilities for specific customers. TPI Composites, Inc. utilizes a collaborative dedicated supplier model, where they dedicate capacity at their facilities in exchange for customer commitments to purchase minimum annual volumes of wind blade sets. As of the first quarter of 2025, the company reported having 36 dedicated manufacturing lines under long-term supply agreements. This commitment to dedicated capacity is a key differentiator, ensuring critical capacity for their partners.

You see this commitment in action through enhanced customer collaboration on new blade model design and transition. TPI Composites, Inc. is actively working with customers on next-generation technology. For instance, demand for blades out of their Mexico factories exceeded current capacity for 2025, prompting them to ramp up lines for 24/7 operations to support these partners. Furthermore, the company is on schedule to reopen its Iowa plant in mid-2025 specifically to support GE Vernova. The Q1 2025 production increase was partly driven by the restart of a previously idled facility in Juarez, Mexico, supporting this collaborative ramp-up.

The management of these high-value relationships is handled through direct sales and service teams managing high-value, complex B2B contracts. TPI Composites, Inc. is headquartered in Scottsdale, Arizona, and operates factories across the U.S., Mexico, Türkiye, and India, with engineering development centers in Denmark and Germany, supporting a global OEM client base. The key OEM customers they serve include:

• General Electric International, Inc. and its affiliates (GE Wind)
• Vestas Wind Systems A/S (Vestas)
• Gamesa Wind US LLC (Gamesa)
• Nordex SE (or Nordex)

A constant focus is placed on operational excellence to improve customer productivity and competitiveness. This focus is critical, especially as the company navigates a strategic review. The goal is to reduce sourcing risk for customers through TPI Composites, Inc.'s quality, reliability, and total delivered cost. Here's a look at how operational metrics tied to capacity utilization, which directly impacts customer fulfillment, looked at the start of 2025:

Metric	Q1 2025	Q4 2024	Q1 2024
Utilization Percentage	70%	77%	67%
Dedicated Manufacturing Lines	36	34	N/A
Manufacturing Lines Installed	36	37	37
Wind Blade Sets Produced (Units)	509	N/A	488

For the full-year 2025 guidance, TPI Composites, Inc. projects line utilization to reach between 80% and 85% across 34 production lines. This planned utilization improvement is a direct measure of their commitment to serving contracted volumes efficiently. If onboarding takes 14+ days longer than planned, churn risk rises, so hitting that 80% target is defintely key for customer satisfaction this year.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Channels

You're looking at how TPI Composites, Inc. (TPIC) gets its product and services to the customer, which is all about long-term contracts and global logistics.

Direct sales force managing long-term, multi-year supply agreements with OEMs

The core of the channel strategy relies on locking in major Original Equipment Manufacturers (OEMs) for years. TPI Composites, Inc. extended supply agreements with Vestas and GE Vernova through 2025. As of the first quarter of 2025, the company had 36 dedicated manufacturing lines under long-term supply agreements. Demand from the U.S. market is expected to push the plants in Mexico to near capacity utilization in 2025. TPI Composites, Inc. serves customers with over 6 million square feet of manufacturing operations globally.

Here's a look at the commitment level:

• Supply agreements extended with Vestas through 2025.
• Supply agreements extended with GE Vernova through 2025.
• Dedicated manufacturing lines as of Q1 2025: 36.

Global manufacturing facilities delivering blades directly to customer assembly sites

The physical delivery channel involves a global footprint designed to serve regional markets efficiently. TPI Composites, Inc. is ramping up production lines in Mexico to support 24/7 operations because demand there exceeds current capacity for 2025. Also, the Iowa plant is scheduled to reopen in mid-2025 to support GE Vernova. For the full year ending December 31, 2025, TPI Composites, Inc. projects Net Sales from Continuing Operations between $1.4 billion and $1.5 billion. The company expects a utilization percentage of approximately 80% to 85% across the 34 installed production lines for 2025. TPI Composites, Inc. produced 6,525 wind blades in 2024.

The manufacturing and delivery network includes facilities in:

Location	Status/Activity
Mexico (Juarez, Matamoros)	Ramping up for 24/7 operations due to high demand
Newton, Iowa, U.S.	Scheduled to reopen mid-2025
Chennai, India	Part of the global hub

The estimated megawatts produced in the first quarter of 2025 was 1,933.

Field service technicians deployed directly to wind farms for repair and inspection

Beyond manufacturing, TPI Composites, Inc. uses its own technicians for aftermarket services, deploying them directly to sites. Field service, inspection, and repair services sales for the three months ended March 31, 2025, reached $7.1 million, up from $5.1 million in the same period of 2024. This represents a 38.4% increase year-over-year for the first quarter. For the full year 2025, Field Services Revenue is projected to increase by more than 50%. For the full year 2024, Field Services sales were $32.8 million.

Investor Relations and public disclosures for capital market access

Access to capital markets is managed through public disclosures, which recently included the initiation of a strategic review by the Board of Directors in May 2025. As of October 31, 2025, the stock price was $0.04. The market capitalization as of that date was $1.86M. Unrestricted cash was $171.9 million as of March 31, 2025.

Key financial disclosure points for capital access:

• Unrestricted Cash (as of 3/31/2025): $171.9 million.
• Stock Price (as of 10/31/2025): $0.04.
• Market Capitalization (as of 10/31/2025): $1.86M.
• 2025 Adjusted EBITDA Margin Guidance: 0% to 2%.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for TPI Composites, Inc. (TPIC) as of late 2025. The focus is almost entirely on the wind energy sector now, following a major strategic shift.

The primary customer base consists of Global Tier 1 Wind Turbine Original Equipment Manufacturers (OEMs). These are the giants you need to keep happy for volume and stability. For the first half of 2025 (H1 2025), the revenue concentration among the top three customers was quite clear:

Key Customer (H1 2025)	Percentage of Total Sales (H1 2025)
GE	41.7%
Vestas	35.7%
Nordex	19.1%

This concentration means that the strategic health of these three relationships dictates a large part of TPI Composites, Inc.'s financial performance. For instance, in Q2 2025, the EMEA segment sales dropped 54.9% year-over-year, mainly due to reductions in customer orders, which directly impacts the OEM segment.

The market context for these OEMs is the global onshore wind sector, excluding China. TPI Composites, Inc. has historically positioned itself as a major supplier in this space, with its market share based on TPI MW relative to global total onshore MW (excl. China) being cited from Wood Mackenzie's "Global Wind Power Market Outlook Q1 2025". The specific market share figure you noted for this segment is approximately 27% of the market share (excl. China).

Another critical segment is driven by product evolution. You have customers requiring next-generation, longer wind blade models. This drives higher pricing, as seen in Q1 2025 when the Average Selling Price (ASP) for wind blades increased to $209,000 per set from $183,000 in the prior year period. This shift in product mix is a key revenue driver, contributing to the 13.9% increase in Wind segment sales in Q1 2025.

Beyond manufacturing, there is a distinct segment of wind farm operators needing field service, inspection, and repair (Field Services). This service revenue is growing strongly, showing a 38.4% increase in Q1 2025, reaching $7.1 million, up from $5.1 million in Q1 2024. For the full year 2025 outlook, Field Services Revenue is projected to increase by over 50%.

Finally, you must account for the strategic exit from a former segment. Previously, the automotive industry, but this segment was divested in 2024. The divestiture of the automotive business to Clear Creek Investments, LLC (CCI) was expected to close on June 30, 2024, allowing TPI Composites, Inc. to focus solely on wind. To put that into perspective, in fiscal 2023, the Automotive business contributed 2% to TPI Composites, Inc.'s total revenues, while Field Service was 3%.

• Field Services sales for the full year 2024 were $32.8 million.
• The company's total net sales for Q1 2025 were $336.2 million.
• The company filed for Chapter 11 reorganization on August 11, 2025.

The next step for you is to review the Key Partners section to see which OEMs are driving the next-generation blade demand.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving TPI Composites, Inc. (TPIC) operations as of late 2025. The cost structure is heavily weighted toward production inputs and labor across its international footprint, which management is actively trying to mitigate through strategic reviews and operational execution.

High cost of goods sold remains a primary pressure point. TPI Composites has noted the ongoing challenge of absorbing or mitigating the impact of price increases in key raw materials. These materials defintely include resin and carbon reinforcements (or fiber) used in the composite wind blades. The company's ability to manage these commodity prices directly impacts its gross margin performance.

Labor costs are significant, especially given the manufacturing footprint. TPI Composites has explicitly cited higher labour costs in Türkiye and Mexico as a factor offsetting revenue improvements in early 2025. This reflects inflationary pressures and the costs associated with ramping up certain Mexican facilities to a 24/7 schedule to meet U.S. demand.

Manufacturing overhead includes facility costs and utilities. While specific dollar amounts for overhead aren't broken out in the latest guidance, these fixed and semi-variable costs are a constant drain, especially when line utilization is not at peak capacity. The 2025 utilization guidance suggests a focus on driving more volume through existing facilities to spread this overhead.

Capital expenditures projected for 2025 are set to support ongoing operations and transitions. TPI Composites has guided capital expenditures at $25 million to $30 million for the full year 2025. This level of investment is necessary for maintaining and optimizing the production lines, including the planned reopening of the Iowa plant mid-2025.

Financing costs are a major component of the overall expense base. As of the first quarter of 2025, TPI Composites reported total debt of approximately $616 million. The prompt specifically calls out interest expense on this debt; the Q1 2025 results confirmed that higher interest expenses were one of the factors offsetting operational improvements, though the exact interest expense dollar amount for the year isn't explicitly provided here, only the debt principal.

Here's a quick look at the key financial metrics and guidance that define the cost and investment side of the TPI Composites business model for 2025:

Cost/Investment Metric	Value/Guidance	Period/Context
Projected Capital Expenditures	$25 million to $30 million	Full Year 2025 Guidance
Total Debt	Approximately $616 million	As of Q1 2025
Net Sales Guidance	$1.4 billion to $1.5 billion	Full Year 2025 Guidance
Adjusted EBITDA Margin Guidance	0% to 2%	Full Year 2025 Guidance
Line Utilization Guidance	80% to 85%	Full Year 2025 Guidance (based on 34 lines)
Q1 2025 Net Sales	$336.2 million	Actual Results

The cost structure is further influenced by specific operational activities that hit the income statement:

• Increased pre-existing warranty charges were noted as a headwind in Q1 2025.
• Costs related to transitioning certain Mexican operations to a continuous schedule were a factor in Q1 2025 expenses.
• Startup and transition costs, while decreasing from prior periods, still weighed on profitability in early 2025.
• The company is actively managing costs through initiatives like 'Blade Assure' and focusing on operational excellence to drive cost-down.

Finance: draft 13-week cash view by Friday.

TPI Composites, Inc. (TPIC) - Canvas Business Model: Revenue Streams

You see the core of TPI Composites, Inc. (TPIC) revenue coming from the manufacturing and sale of wind turbine blades directly to Original Equipment Manufacturers (OEMs). This is the engine of the business, plain and simple. To be fair, this revenue is definitely concentrated among a few key OEM customers, which is a critical point you need to watch closely when assessing risk.

Here's a quick look at the numbers we have for the first quarter of 2025 and the full-year outlook:

Revenue Component/Guidance	Q1 2025 Amount	2025 Full-Year Guidance
Net Sales (Wind Blades, Tooling, Other Wind-Related)	$329.0 million	$1.4 billion to $1.5 billion
Field Service, Inspection, and Repair Sales	$7.1 million	Projected to increase by over 50%
Total Net Sales (Q1 2025 Actual)	$336.2 million	Midpoint of $1.45 billion mentioned by some analysts

The primary revenue stream, categorized as Wind sales which includes wind blades, tooling, and other wind-related sales, hit $329.0 million for the three months ended March 31, 2025. TPI Composites, Inc. has reaffirmed its full-year 2025 net sales guidance from continuing operations to be between $1.4 billion and $1.5 billion.

Also, don't overlook the service side of the business. Revenue from field service, inspection, and repair services is growing nicely, showing real traction. For the first quarter of 2025, this segment grew by 38.4%, reaching $7.1 million compared to $5.1 million in the same period in 2024. This growth was supported by deploying more technicians to revenue-generating projects.

You can break down the revenue sources like this:

• Primary revenue from wind blade manufacturing and sales to OEMs.
• Revenue from tooling and other wind-related sales, bundled with blade sales in Q1 2025 reporting.
• Field service, inspection, and repair services, which grew 38.4% in Q1 2025.
• Revenue is concentrated among a few key OEM customers, a defintely critical point.