TPI Composites (TPIC) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Entity Addresses [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	TPIC
Entity Registrant Name	TPI Composites, Inc.
Entity Central Index Key	0001455684
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Address, State or Province	AZ
Entity File Number	001-37839
Entity Tax Identification Number	20-1590775
Entity Address, Address Line One	9200 E. Pima Center Parkway,
Entity Address, Address Line Two	Suite 250
Entity Address, Postal Zip Code	85258
City Area Code	480
Local Phone Number	305-8910
Entity Address, City or Town	Scottsdale
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $0.01
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		47,562,684

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents		$ 125,871	$ 161,059
Restricted cash		9,576	10,838
Accounts receivable		150,186	138,029
Contract assets		124,851	112,237
Prepaid expenses		19,940	17,621
Other current assets		26,775	34,564
Inventories		4,518	9,420
Assets held for sale		4,966	0
Current assets of discontinued operations		865	19,307
Total current assets		467,548	503,075
Property, plant and equipment, net		116,282	128,808
Operating lease right of use assets		130,739	136,124
Other noncurrent assets		38,076	36,073
Total assets		752,645	804,080
Current liabilities:
Accounts payable and accrued expenses		286,245	227,723
Accrued warranty		35,251	37,483
Current maturities of long-term debt	[1]	139,845	70,465
Current operating lease liabilities		26,100	22,017
Contract liabilities		2,768	24,021
Liabilities held for sale		1,073	0
Current liabilities of discontinued operations		1,782	4,712
Total current liabilities		493,064	386,421
Long-term debt, net of current maturities		465,989	414,728
Noncurrent operating lease liabilities		108,096	117,133
Other noncurrent liabilities		7,491	8,102
Total liabilities		1,074,640	926,384
Commitments and contingencies (Note 13)
Stockholders' deficit:
Common shares, $0.01 par value, 100,000 shares authorized, 48,618 shares issued and 47,563 shares outstanding at September 30, 2024 and 100,000 shares authorized, 46,990 shares issued and 46,471 shares outstanding at December 31, 2023		486	470
Paid-in capital		436,617	431,335
Accumulated other comprehensive loss		(18,311)	(7,627)
Accumulated deficit		(728,973)	(536,348)
Treasury stock, at cost, 1,055 shares at September 30, 2024 and 519 shares at December 31, 2023		(11,814)	(10,134)
Total stockholders' deficit		(321,995)	(122,304)
Total liabilities and stockholders' deficit		$ 752,645	$ 804,080
[1] Current maturities of long-term debt are primarily related to outstanding working capital facilities of $ 124.1 million and $ 14.9 million in Türkiye and India, respectively.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	48,618,000	46,990,000
Common stock, shares outstanding	47,563,000	46,471,000
Treasury stock	1,055,000	519,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 380,762	$ 370,242	$ 984,625	$ 1,138,068
Cost of sales	369,882	367,915	982,939	1,163,429
Startup and transition costs	8,113	4,817	51,020	10,174
Total cost of goods sold	377,995	372,732	1,033,959	1,173,603
Gross profit (loss)	2,767	(2,490)	(49,334)	(35,535)
General and administrative expenses	4,717	8,817	22,331	22,618
Loss on sale of assets and asset impairments	9,196	5,164	14,114	14,576
Restructuring charges, net	428	710	908	2,934
Loss from continuing operations	(11,574)	(17,181)	(86,687)	(75,663)
Other income (expense):
Interest expense, net	(24,194)	(1,625)	(68,005)	(6,026)
Foreign currency loss	(2,346)	(511)	(2,845)	(3,257)
Miscellaneous income	759	376	3,461	1,491
Total other expense	(25,781)	(1,760)	(67,389)	(7,792)
Loss from continuing operations before income taxes	(37,355)	(18,941)	(154,076)	(83,455)
Income tax provision	(1,241)	(8,007)	(6,895)	(12,123)
Net loss from continuing operations	(38,596)	(26,948)	(160,971)	(95,578)
Preferred stock dividends and accretion	0	(16,031)	0	(46,802)
Net loss from continuing operations attributable to common stockholders	(38,596)	(42,979)	(160,971)	(142,380)
Net loss from discontinued operations	(1,472)	(29,867)	(31,654)	(48,601)
Net loss attributable to common stockholders	$ (40,068)	$ (72,846)	$ (192,625)	$ (190,981)
Weighted-average shares of common stock outstanding:
Basic	47,556	42,570	47,422	42,448
Diluted	47,556	42,570	47,422	42,448
Net loss from continuing operations per common share:
Basic	$ (0.81)	$ (1.01)	$ (3.39)	$ (3.36)
Diluted	(0.81)	(1.01)	(3.39)	(3.36)
Net loss from discontinued operations per common share:
Basic	(0.03)	(0.7)	(0.67)	(1.14)
Diluted	(0.03)	(0.7)	(0.67)	(1.14)
Net loss per common share:
Basic	(0.84)	(1.71)	(4.06)	(4.5)
Diluted	$ (0.84)	$ (1.71)	$ (4.06)	$ (4.5)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss from continuing operations attributable to common stockholders	$ (38,596)	$ (42,979)	$ (160,971)	$ (142,380)
Net loss from discontinued operations	(1,472)	(29,867)	(31,654)	(48,601)
Net loss attributable to common stockholders	(40,068)	(72,846)	(192,625)	(190,981)
Other comprehensive income (loss):
Foreign currency translation adjustments	1,213	(3,052)	(192)	(1,858)
Unrecognized actuarial losses	(11,240)	0	(11,240)	0
Amortization of unrecognized actuarial losses	748	0	748	0
Reclassification of foreign currency translation adjustments from disposition and exit of business activities, net of tax of $0	0	901	0	901
Unrealized gain on hedging derivatives, net of taxes of $0 for each of the presented periods	0	318	0	2,261
Reclassification of loss on hedging derivatives, net of taxes of $0 for each of the presented periods	0	3,307	0	3,249
Comprehensive loss	$ (49,347)	$ (71,372)	$ (203,309)	$ (186,428)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Reclassification of foreign currency translation adjustments from disposition and exit of business activities, net of tax of $0	$ 0	$ 0	$ 0	$ 0
Unrealized gain on hedging derivatives, net of taxes of $0 for each of the presented periods	0	0	0	0
Reclassification of (gain) loss on hedging derivatives, net of taxes of $0 for each of the presented periods	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) $ in Thousands	Total	Series A Preferred Stock [Member]	Common Stock [Member]	Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Treasury stock at cost [Member]
Beginning balance at Dec. 31, 2022		$ 309,877
Beginning balance, shares at Dec. 31, 2022		350,000	42,369,000
Beginning balance at Dec. 31, 2022	$ 50,487		$ 424	$ 407,570	$ (15,387)	$ (334,569)	$ (7,551)
Net Income (Loss)	(22,127)					(22,127)
Preferred stock dividends	(10,706)	$ (10,706)		(10,706)
Other comprehensive income (loss)	2,010				2,010
Common stock repurchased for treasury	(2,549)						(2,549)
Issuances under share-based compensation plan	6		$ 6
Share-based compensation expense	2,720			2,720
Issuances under share-based compensation plan, shares			627,000
Accretion of Series A Preferred Stock	(4,467)	$ 4,467		(4,467)
Capped call transaction	(18,590)			(18,590)
Ending balance at Mar. 31, 2023	(3,216)		$ 430	376,527	(13,377)	(356,696)	(10,100)
Ending balance, shares at Mar. 31, 2023		350,000	42,996,000
Ending Balance at Mar. 31, 2023		$ 325,050
Net Income (Loss)	(65,237)					(65,237)
Preferred stock dividends	(11,118)	(11,118)		(11,118)
Other comprehensive income (loss)	1,069				1,069
Common stock repurchased for treasury	(34)						(34)
Issuances under share-based compensation plan	1		$ 1
Share-based compensation expense	3,926			3,926
Issuances under share-based compensation plan, shares			93,000
Accretion of Series A Preferred Stock	(4,480)	$ 4,480		(4,480)
Ending balance at Jun. 30, 2023	(79,089)		$ 431	364,855	(12,308)	(421,933)	(10,134)
Ending balance, shares at Jun. 30, 2023		350,000	43,089,000
Ending Balance at Jun. 30, 2023		$ 340,648
Net Income (Loss)	(56,815)					(56,815)
Preferred stock dividends	(11,549)	(11,549)		(11,549)
Other comprehensive income (loss)	1,474				1,474
Share-based compensation expense	2,624			2,624
Issuances under share-based compensation plan, shares			2,000
Accretion of Series A Preferred Stock	(4,482)	$ 4,482		(4,482)
Ending balance at Sep. 30, 2023	(147,837)		$ 431	351,448	(10,834)	(478,748)	(10,134)
Ending balance, shares at Sep. 30, 2023		350,000	43,091,000
Ending Balance at Sep. 30, 2023		$ 35,667
Beginning balance at Dec. 31, 2023		$ 0
Beginning balance, shares at Dec. 31, 2023		0	46,990,000
Beginning balance at Dec. 31, 2023	(122,304)		$ 470	431,335	(7,627)	(536,348)	(10,134)
Net Income (Loss)	(61,468)					(61,468)
Other comprehensive income (loss)	(1,258)				(1,258)
Common stock repurchased for treasury	(1,641)						(1,641)
Issuances under share-based compensation plan	15		$ 15
Share-based compensation expense	2,589			2,589
Issuances under share-based compensation plan, shares			1,524,000
Ending balance at Mar. 31, 2024	(184,067)		$ 485	433,924	(8,885)	(597,816)	(11,775)
Ending balance, shares at Mar. 31, 2024		0	48,514,000
Ending Balance at Mar. 31, 2024		$ 0
Net Income (Loss)	(91,089)					(91,089)
Other comprehensive income (loss)	(147)				(147)
Common stock repurchased for treasury	(8)						(8)
Issuances under share-based compensation plan	1		$ 1
Share-based compensation expense	1,051			1,051
Issuances under share-based compensation plan, shares			87,000
Ending balance at Jun. 30, 2024	(274,259)		$ 486	434,975	(9,032)	(688,905)	(11,783)
Ending balance, shares at Jun. 30, 2024		0	48,601,000
Ending Balance at Jun. 30, 2024		$ 0
Net Income (Loss)	(40,068)					(40,068)
Other comprehensive income (loss)	(9,279)				(9,279)
Common stock repurchased for treasury	(31)						(31)
Issuances under share-based compensation plan	0		$ 0
Share-based compensation expense	1,642			1,642
Issuances under share-based compensation plan, shares			17,000
Ending balance at Sep. 30, 2024	$ (321,995)		$ 486	$ 436,617	$ (18,311)	$ (728,973)	$ (11,814)
Ending balance, shares at Sep. 30, 2024		0	48,618,000
Ending Balance at Sep. 30, 2024		$ 0

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (192,625)	$ (144,179)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	23,526	29,798
Provision for credit losses	0	20,929
Loss on sale of discontinued operations	6,298	0
Loss on sale of assets and asset impairments	33,484	16,748
Share-based compensation expense	5,282	9,278
Amortization of debt issuance costs	23,886	552
Paid-in-kind interest	34,041	0
Deferred income taxes	(3,306)	(1,937)
Changes in assets and liabilities:
Accounts receivable	(27,030)	28,122
Contract assets and liabilities	(38,156)	3,179
Operating lease right of use assets and operating lease liabilities	431	(8,577)
Inventories	1,240	6,358
Prepaid expenses	(2,130)	3,637
Other current assets	7,074	(8,248)
Other noncurrent assets	1,331	5,824
Accounts payable and accrued expenses	54,653	(70,043)
Accrued warranty	(2,232)	20,608
Other noncurrent liabilities	(610)	2,043
Net cash used in operating activities	(74,843)	(85,908)
Cash flows from investing activities:
Purchases of property, plant and equipment	(22,079)	(15,846)
Proceeds from sale of business	0	12,836
Net cash used in investing activities	(22,079)	(3,010)
Cash flows from financing activities:
Proceeds from issuance of convertible notes	0	132,500
Purchase of capped calls	0	(18,590)
Payments of debt issuance costs	0	(4,810)
Proceeds from working capital loans	160,742	120,370
Repayments of working capital loans	(98,788)	(117,293)
Principal repayments of finance leases	(938)	(1,038)
Net proceeds from (repayments of) other debt	1,440	473
Repurchase of common stock including shares withheld in lieu of income taxes	(1,680)	(2,583)
Net cash provided by financing activities	60,776	109,029
Impact of foreign exchange rates on cash, cash equivalents and restricted cash	(485)	700
Net change in cash, cash equivalents and restricted cash	(36,631)	20,811
Cash, cash equivalents and restricted cash, beginning of year	172,813	153,069
Cash, cash equivalents and restricted cash, end of period	136,182	173,880
Supplemental cash flow information:
Cash paid for interest	12,863	8,151
Cash paid for income taxes, net of refunds	17,829	15,742
Noncash investing and financing activities:
Right of use assets obtained in exchange for new operating lease liabilities	11,376	2,344
Property, plant, and equipment obtained in exchange for new finance lease liabilities	258	197
Accrued capital expenditures in accounts payable	4,358	2,574
Paid-in-kind preferred stock dividends and accretion	0	46,802
Reconciliation of Cash, Cash Equivalents and Restricted Cash:
Cash and cash equivalents	161,059	133,546
Cash and cash equivalents	125,871	160,648
Restricted cash	10,838	9,854
Restricted cash	9,576	9,300
Cash and cash equivalents of discontinued operations	916	9,669
Cash and cash equivalents of discontinued operations	735	3,932
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	172,813	153,069
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 136,182	$ 173,880

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (40,068)	$ (91,089)	$ (61,468)	$ (56,815)	$ (65,237)	$ (22,127)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Note 1. B asis of Presentation The condensed consolidated financial statements included herein have been prepared by us without audit, pursuant to the rules and regulations of the SEC and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in our Annual Report on Form 10-K. Although we believe the disclosures that are made are adequate to make the information presented herein not misleading, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted, as permitted by the SEC. The accompanying condensed consolidated financial statements reflect, in the opinion of our management, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2024, and the results of our operations, comprehensive income (loss) and cash flows for the periods presented. Interim results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation. The preparation of these condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying condensed consolidated financial statements include the accounts of TPI Composites, Inc. and all of our majority owned subsidiaries. All significant intercompany transactions and balances have been eliminated. We are exploring alternatives for the divestiture of our tooling business as part of our continued prioritization of capital for growth in the wind blade business, and as of September 30, 2024, we met the criteria to classify $ 5.0 million of assets and $ 1.1 million of liabilities as held for sale in our condensed consolidated balance sheets. The assets held for sale primarily relate to net property, plant and equipment, inventory, and accounts receivable. The liabilities held for sale primarily relate to accounts payable and other accrued expenses. Upon classifying the assets as held for sale, we recognized $ 3.9 million of impairment charges during the three months ended September 30, 2024. References to TPI Composites, Inc, the “Company,” “we,” “us” or “our” in these notes refer to TPI Composites, Inc. and its consolidated subsidiaries. Recently Issued Accounting Pronouncements - Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments are intended to increase reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted the standard for annual disclosure requirements on January 1, 2024, and plans to adopt the standard for interim periods beginning January 1, 2025, with early adoption permitted. The Company is evaluating the potential impact of its adoption on the Company’s audited Consolidated Financial Statements but does not anticipate that such adoption will have a material impact. Recently Issued Accounting Pronouncements - Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU also includes certain other amendments intended to improve the effectiveness of income tax disclosures. This ASU is effective for the Company’s fiscal year beginning January 1, 2025 and allows the use of a prospective or retrospective approach. The Company plans to adopt the standard on January 1, 2025 and has not yet determined the potential impact of its adoption on the Company’s audited Consolidated Financial Statements.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note 2. Discontinued Operations On June 30, 2024, we completed the divestiture of our wholly-owned subsidiary, TPI, Inc. (the Automotive subsidiary). The Automotive subsidiary was engaged in the development, commercialization and implementation of the Company’s automotive industry related products. The Automotive subsidiary was previously classified as held for sale in the Company’s Consolidated Balance Sheets as of December 31, 2023 and March 31, 2024. As a result of the divestiture, the Company recorded a $ 19.7 million non-cash impairment charge related to property, plant and equipment, and a $ 6.3 million loss on sale of the discontinued operations for the nine months ended September 30, 2024. The divestiture constituted a strategic shift as the Company will focus entirely on executing on its core business in the wind industry going forward, and accordingly, the historical results of our Automotive subsidiary have been reclassified as discontinued operations for all periods presented in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets. In December 2022, we committed to a restructuring plan to rebalance our organization and optimize our global manufacturing footprint. Changing economic and geopolitical factors, including increased logistics costs and tariffs imposed on components of wind turbines from China, including wind blades, had an adverse impact on demand and profitability for our wind blades manufactured in our Chinese facilities. In connection with our restructuring plan, we ceased production at our Yangzhou, China manufacturing facility as of December 31, 2022 and are in the process of shutting down our business operations in China. Our business operations in China comprised the entirety of our "Asia" reporting segment. The shut down had a meaningful effect on our global manufacturing footprint and consolidated financial results. Accordingly, the historical results of our Asia reporting segment have been presented as discontinued operations in our Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets. The following tables present the carrying amounts of major classes of assets and liabilities that were included in discontinued operations: September 30, 2024 (in thousands) Automotive Asia Total Cash and cash equivalents $ — $ 735 $ 735 Other classes of assets — 130 130 Total assets of discontinued operations $ — $ 865 $ 865 Accounts payable and accrued expenses $ — $ 1,020 $ 1,020 Accrued restructuring — 762 762 Total liabilities of discontinued operations $ — $ 1,782 $ 1,782 December 31, 2023 (in thousands) Automotive Asia Total Cash and cash equivalents $ — $ 916 $ 916 Property, plant and equipment, net 14,204 — 14,204 Other classes of assets that are not major 3,583 604 4,187 Total assets of discontinued operations $ 17,787 $ 1,520 $ 19,307 Accounts payable and accrued expenses $ 1,897 $ 1,632 $ 3,529 Accrued restructuring — 1,183 1,183 Total liabilities of discontinued operations $ 1,897 $ 2,815 $ 4,712 A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Operations are as follows: Three Months Ended September 30, 2024 Automotive Asia Total (in thousands) Net sales $ — $ — $ — Cost of sales 321 18 339 Gross loss ( 321 ) ( 18 ) ( 339 ) Loss on sale of discontinued operations 738 — 738 Restructuring charges, net 191 — 191 Loss from discontinued operations ( 1,250 ) ( 18 ) ( 1,268 ) Total other income (expense) 19 ( 208 ) ( 189 ) Loss before income taxes ( 1,231 ) ( 226 ) ( 1,457 ) Income tax provision ( 15 ) — ( 15 ) Net loss from discontinued operations $ ( 1,246 ) $ ( 226 ) $ ( 1,472 ) Three Months Ended September 30, 2023 Automotive Asia Total (in thousands) Net sales $ 2,618 $ 749 $ 3,367 Cost of sales 11,304 1,197 12,501 Gross loss ( 8,686 ) ( 448 ) ( 9,134 ) General and administrative expenses 19,892 — 19,892 (Gain) loss on sale of assets and asset impairments 693 ( 442 ) 251 Restructuring charges, net 457 ( 57 ) 400 Gain (loss) from discontinued operations ( 29,728 ) 51 ( 29,677 ) Total other expense ( 54 ) ( 103 ) ( 157 ) Loss before income taxes ( 29,782 ) ( 52 ) ( 29,834 ) Income tax provision ( 33 ) — ( 33 ) Net loss from discontinued operations $ ( 29,815 ) $ ( 52 ) $ ( 29,867 ) Nine Months Ended September 30, 2024 Automotive Asia Total (in thousands) Net sales $ 12,286 $ — $ 12,286 Cost of sales 19,215 89 19,304 Gross loss ( 6,929 ) ( 89 ) ( 7,018 ) General and administrative expenses ( 1,704 ) — ( 1,704 ) (Gain) loss on sale of assets and asset impairments 19,707 ( 338 ) 19,369 Loss on sale of discontinued operations 6,298 — 6,298 Restructuring charges, net 656 — 656 Income (loss) from discontinued operations ( 31,886 ) 249 ( 31,637 ) Total other income (expense) 199 ( 109 ) 90 Income (loss) before income taxes ( 31,687 ) 140 ( 31,547 ) Income tax provision ( 107 ) — ( 107 ) Net income (loss) from discontinued operations $ ( 31,794 ) $ 140 $ ( 31,654 ) Nine Months Ended September 30, 2023 Automotive Asia Total (in thousands) Net sales $ 20,129 $ 2,950 $ 23,079 Cost of sales 40,438 8,600 49,038 Gross loss ( 20,309 ) ( 5,650 ) ( 25,959 ) General and administrative expenses 19,892 — 19,892 Loss on sale of assets and asset impairments 693 1,479 2,172 Restructuring charges, net 556 1,403 1,959 Loss from discontinued operations ( 41,450 ) ( 8,532 ) ( 49,982 ) Total other income 26 1,437 1,463 Loss before income taxes ( 41,424 ) ( 7,095 ) ( 48,519 ) Income tax provision ( 82 ) — ( 82 ) Loss from discontinued operations $ ( 41,506 ) $ ( 7,095 ) $ ( 48,601 ) The following table presents summarized cash flows from discontinued operations that are included in the Condensed Consolidated Statements of Cash Flows: Nine Months Ended September 30, 2024 2023 (in thousands) Net cash provided by (used in) operating activities from discontinued operations $ 2,634 $ ( 3,915 ) Net cash used in investing activities from discontinued operations ( 3,387 ) ( 1,987 ) Additional non-cash items related to operating activities from discontinued operations: Share-based compensation expense ( 74 ) 284 Depreciation and amortization — 349

Revenue From Contracts with Cus

Revenue From Contracts with Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue From Contracts with Customers	Note 3. Revenue From Contracts with Customers For a detailed discussion of our revenue recognition policy, refer to the discussion in Note 1, Summary of Operations and Summary of Significant Accounting Policies – (c) Revenue Recognition , to the Notes to Consolidated Financial Statements within our Annual Report on Form 10-K for the year ended December 31, 2023. The following tables represent the disaggregation of our net sales by product for each of our reportable segments: Three Months Ended September 30, 2024 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 205,523 $ 120,506 $ 43,053 $ 369,082 Field service, inspection and 7,417 819 3,444 — 11,680 Total net sales $ 7,417 $ 206,342 $ 123,950 $ 43,053 $ 380,762 Three Months Ended September 30, 2023 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 156,077 $ 146,593 $ 59,561 $ 362,231 Field service, inspection and 4,566 784 2,661 — 8,011 Total net sales $ 4,566 $ 156,861 $ 149,254 $ 59,561 $ 370,242 Nine Months Ended September 30, 2024 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 516,728 $ 318,667 $ 126,882 $ 962,277 Field service, inspection and 14,177 1,383 6,788 — 22,348 Total net sales $ 14,177 $ 518,111 $ 325,455 $ 126,882 $ 984,625 Nine Months Ended September 30, 2023 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 477,306 $ 446,044 $ 189,207 $ 1,112,557 Field service, inspection and 19,035 1,173 5,303 — 25,511 Total net sales $ 19,035 $ 478,479 $ 451,347 $ 189,207 $ 1,138,068 For a further discussion regarding our operating segments, see Note 15, Segment Reporting . Contract Assets and Liabilities Contract assets consist of the amount of revenue recognized over time for performance obligations in production where control has transferred to the customer, but the contract does not yet allow for the customer to be billed. Typically, customers are billed when the product finishes production and meets the technical specifications contained in the contract. The majority of the contract asset balance relates to materials procured based on customer specifications. The contract assets are recorded as current assets in the condensed consolidated balance sheets. Contract liabilities consist of advance payments in excess of revenue earned. The contract liabilities are recorded as current liabilities in the condensed consolidated balance sheets and are reduced as we record revenue over time. These contract assets and liabilities are reported on the condensed consolidated balance sheets net on a contract-by-contract basis at the end of each reporting period. Contract assets and contract liabilities consisted of the following: September 30, December 31, 2024 2023 $ Change (in thousands) Gross contract assets $ 153,150 $ 121,483 $ 31,667 Less: reclassification from contract liabilities ( 28,299 ) ( 9,246 ) ( 19,053 ) Contract assets $ 124,851 $ 112,237 $ 12,614 September 30, December 31, 2024 2023 $ Change (in thousands) Gross contract liabilities $ 31,067 $ 33,267 $ ( 2,200 ) Less: reclassification to contract assets ( 28,299 ) ( 9,246 ) ( 19,053 ) Contract liabilities $ 2,768 $ 24,021 $ ( 21,253 ) Gross contract assets increased by $ 31.7 million from December 31, 2023 to September 30, 2024, primarily due to an increase in customer specific material purchases and incremental unbilled production related to startups and transitions during the nine months ended September 30, 2024 . Gross contract liabilities decreased by $ 2.2 million from December 31, 2023 to September 30, 2024, primarily due to a decrease in customer advances during the nine months ended September 30, 2024. For the nine months ended September 30, 2024 , we recognized $ 21.3 million of revenue related to customer advances, which was included in the corresponding contract liability balance at the beginning of the period. Performance Obligations Remaining performance obligations represent the transaction price for which work has not been performed and excludes any unexercised contract options. The transaction price includes estimated variable consideration as determined based on the estimated production output within the range of the contractual guaranteed minimum volume obligations and production capacity. As of September 30, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations to be satisfied in future periods was approximately $ 0.8 billion. We estimate that we will recognize the remaining performance obligations as revenue as follows: $ % of Total (in thousands) Year Ending December 31, Remainder of 2024 $ 335,817 40.9 % 2025 484,354 59.1 Total remaining performance obligations $ 820,171 100.0 % For the three and nine months ended September 30, 2024 , net revenue recognized from our performance obligations satisfied in previous periods decreased by $ 4.7 million and $ 24.7 million, respectively. For the three and nine months ended September 30, 2023 , net revenue recognized from our performance obligations satisfied in previous periods decreased by $ 0.1 million and $ 15.6 million, respectively. The decrease for the three and nine months ended September 30, 2024 primarily relate to changes in certain of our estimated total contract values and related direct costs to complete the performance obligations.

Significant Risks and Uncertain

Significant Risks and Uncertainties	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Significant Risks and Uncertainties	Note 4. Significant Risks and Uncertainties Our revenues and receivables are earned from a small number of customers. As such, our production levels are dependent on these customers’ orders. See Note 14, Concentration of Customers . We maintain our U.S. cash in bank deposit and money market mutual fund accounts that, at times, exceed U.S. federally insured limits. U.S. bank accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) in an amount up to $ 250,000 during 2024 and 2023. U.S. money market mutual fund accounts are not guaranteed by the FDIC. At September 30, 2024 and December 31, 2023, we had $ 74.4 million and $ 116.0 million, respectively, of cash in bank deposit and money market mutual fund accounts in U.S. banks, which were in excess of FDIC limits. We have not experienced losses to date in any such accounts. We also maintain cash in bank deposit accounts outside the U.S. that are not subject to FDIC limits. At September 30, 2024, this included $ 45.0 million in Türkiye, $ 4.6 million in India, $ 1.3 million in Mexico and $ 0.6 million in other countries. As of December 31, 2023 , this included $ 40.6 million in Türkiye, $ 1.9 million in India, $ 1.2 million in Mexico and $ 1.3 million in other countries. We have not experienced losses to date in these accounts. In addition, at September 30, 2024 and December 31, 2023, we had short-term deposits in interest bearing accounts in the U.S. of $ 9.6 million and $ 10.8 million, respectively, which are reported as restricted cash in our condensed consolidated balance sheets. In addition, at September 30, 2024 and December 31, 2023, we had unrestricted cash and cash equivalents related to our discontinued operations of $ 0.7 million and $ 0.9 million, respectively.

Accrued Warranty

Accrued Warranty	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Accrued Warranty	Note 5. Accrued Warranty The warranty accrual activity for the periods noted consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Warranty accrual at beginning of period $ 34,000 $ 49,288 $ 37,483 $ 22,347 Accrual during the period 3,641 3,105 9,127 9,183 Cost of warranty services provided during the period ( 10,147 ) ( 22,500 ) ( 27,014 ) ( 36,334 ) Changes in estimate for pre-existing warranties, 7,757 13,062 15,655 47,759 Warranty accrual at end of period $ 35,251 $ 42,955 $ 35,251 $ 42,955

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 6. Debt Long-term debt, net of current maturities, consisted of the following: September 30, December 31, 2024 2023 (in thousands) 11 % Senior secured term loan—U.S. (1) $ 429,082 $ 395,041 5.25 % Convertible senior unsecured notes—U.S. (2) 132,500 132,500 Unsecured financing—EMEA 125,314 62,891 Secured and unsecured working capital—India 14,865 13,902 Equipment finance leases—Mexico 579 1,098 Equipment finance leases—EMEA 446 623 Other equipment finance leases 108 85 Total debt—principal 702,894 606,140 Less: Debt issuance costs ( 3,314 ) ( 4,023 ) Less: Debt discount (3) ( 93,746 ) ( 116,924 ) Total debt, net of debt issuance costs and debt discount 605,834 485,193 Less: Current maturities of long-term debt (4) ( 139,845 ) ( 70,465 ) Long-term debt, net of current maturities $ 465,989 $ 414,728 (1) As of September 30, 2024, includes principal balance of $ 393.0 million and $ 36.1 million of paid in kind interest. (2) The conversion requirements were not satisfied as of September 30, 2024 and as a result, the 5.25 % Convertible senior unsecured notes (the “Convertible Notes”) will not be eligible for optional conversion during the fourth quarter of 2024. (3) Unamortized debt discount is related to our 11 % senior secured term loan. The fair value of the senior secured term loan at issuance was $ 274.7 million, representing an initial $ 118.3 million discount. The debt discount is amortized to interest expense using the effective interest method over the term of the debt. (4) Current maturities of long-term debt are primarily related to outstanding working capital facilities of $ 124.1 million and $ 14.9 million in Türkiye and India, respectively.

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Plans	Note 7. Share-Based Compensation Plans During the nine months ended September 30, 2024 , we granted to certain employees an aggregate of 722,534 timed-based restricted stock units (RSUs), 151,795 performance-based restricted stock units (PSUs) that vest upon achievement of annual, adjusted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) targets measured from January 1, 2024 through December 31, 2026, 181,371 PSUs that vest upon achievement of certain cumulative total shareholder return (TSR) targets measured from January 1, 2024 through December 31, 2026 and 66,261 stock options. The RSUs that were granted during the period vest over a three-year period with 25 % of the RSUs vesting on the first and second anniversary of the grant date, and 50 % vesting on the third anniversary of the grant date. Each of the time-based and performance-based RSU awards are subject to the recipient’s continued service with us, the terms and conditions of our stock option and incentive plan and the applicable award agreement. Additionally, during the nine months ended September 30, 2024 , we issued 1,022,318 shares related to previous RSU awards with a guaranteed value. These additional shares were issued on the second anniversary of the grant date to maintain the original guaranteed award value. The share-based compensation expense recognized in the condensed consolidated statements of operations was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Cost of goods sold $ 266 $ 875 $ 1,156 $ 2,026 General and administrative expenses 1,368 1,593 4,165 6,967 Total share-based compensation expense $ 1,634 $ 2,468 $ 5,321 $ 8,993 The share-based compensation expense recognized by award type was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) RSUs $ 1,227 $ 2,124 $ 4,131 $ 7,234 Stock options 287 284 701 736 PSUs 120 60 489 1,023 Total share-based compensation expense $ 1,634 $ 2,468 $ 5,321 $ 8,993

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Note 8. Leases We have operating and finance leases for our manufacturing facilities, warehouses, offices, automobiles and certain of our machinery and equipment. Our leases have remaining lease terms of between one and ten years , some of which may include options to extend the leases up to ten years . The components of lease cost were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Total operating lease cost $ 9,742 $ 9,993 $ 29,165 $ 30,140 Finance lease cost Amortization of assets under finance leases $ 998 $ 987 $ 2,992 $ 3,035 Interest on finance leases 59 25 204 90 Total finance lease cost $ 1,057 $ 1,012 $ 3,196 $ 3,125 Total lease assets and liabilities were as follows: September 30, December 31, 2024 2023 (in thousands) Operating Leases Operating lease right of use assets $ 130,739 $ 136,124 Current operating lease liabilities $ 26,100 $ 22,017 Noncurrent operating lease liabilities 108,096 117,133 Total operating lease liabilities $ 134,196 $ 139,150 Finance Leases Property, plant and equipment, gross $ 37,287 $ 37,044 Less: accumulated depreciation ( 32,393 ) ( 29,316 ) Total property, plant and equipment, net $ 4,894 $ 7,728 Current maturities of long-term debt $ 862 $ 1,035 Long-term debt, net of current maturities 271 771 Total finance lease liabilities $ 1,133 $ 1,806 Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 28,260 $ 28,883 Operating cash flows from finance leases 204 82 Financing cash flows from finance leases 938 1,038

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2024
Defined Benefit Plan [Abstract]
Employee Benefit Plans	Note 9. Employee Benefit Plans Defined Contribution Plans We maintain a 401(k) plan for all of our U.S. employees. Under the 401(k) plan, eligible employees may contribute, subject to statutory limitations, a percentage of their salaries. We currently match 100 % of the participants’ contributions up to four percent of eligible compensation, and these employer matching contributions are 100 % vested immediately. In Mexico, we maintain an annual savings fund, which matches the employee contribution each week, based on the Mexican statutory maximum of 13 % of actual minimum salary rates. The savings fund period runs from November to October each year, and is distributed to employees in full, during the first week of November each year. Defined Benefit Plans In Türkiye we provide benefits for virtually all employee terminations, including retirements and voluntary and involuntary terminations, for employees who have completed at least one year of service. The annual net periodic benefit cost and projected benefit obligations related to this plan are determined annually on December 31, unless a remeasurement event occurs in an interim period. This determination requires assumptions to be made concerning general economic conditions (particularly interest rates), increases to compensation levels, and service period trends. Changes in the assumptions to reflect actual experience can result in a change in the net periodic benefit cost and projected benefit obligations. If actual experience differs from these assumptions, the difference is recorded as an actuarial gain or loss and amortized into earnings over a period of time based on the average future service period, which may cause the expense related to providing these benefits to increase or decrease.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes For the three and nine months ended September 30, 2024, we reported an income tax provision of $ 1.2 million and $ 6.9 million, respectively, as compared to an income tax provision of $ 8.0 million and $ 12.1 million, respectively, in the comparative prior year periods. The increased income tax provision during the three and nine months ended September 30, 2024, resulted primarily from the change in the mix of earnings of foreign jurisdictions. No changes in tax law occurred during the three and nine months ended September 30, 2024 , which had a material impact on our income tax provision. We do not record a deferred tax liability related to unremitted earnings as we maintain our assertion to indefinitely reinvest our unremitted foreign earnings.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Common Share	Note 11. Net Loss Per Common Share The following table sets forth the computation of basic and diluted net loss per common share: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands, except per share data) Numerator: Net loss from continuing operations $ ( 38,596 ) $ ( 26,948 ) $ ( 160,971 ) $ ( 95,578 ) Preferred stock dividends and accretion — ( 16,031 ) — ( 46,802 ) Net loss from continuing operations attributable ( 38,596 ) ( 42,979 ) ( 160,971 ) ( 142,380 ) Net loss from discontinued operations ( 1,472 ) ( 29,867 ) ( 31,654 ) ( 48,601 ) Net loss attributable to common stockholders $ ( 40,068 ) $ ( 72,846 ) $ ( 192,625 ) $ ( 190,981 ) Denominator: Basic weighted-average shares outstanding 47,556 42,570 47,422 42,448 Effect of dilutive awards — — — — Diluted weighted-average shares outstanding 47,556 42,570 47,422 42,448 Loss from continuing operations per common share: Basic $ ( 0.81 ) $ ( 1.01 ) $ ( 3.39 ) $ ( 3.36 ) Diluted $ ( 0.81 ) $ ( 1.01 ) $ ( 3.39 ) $ ( 3.36 ) Loss from discontinued operations per common share: Basic $ ( 0.03 ) $ ( 0.70 ) $ ( 0.67 ) $ ( 1.14 ) Diluted $ ( 0.03 ) $ ( 0.70 ) $ ( 0.67 ) $ ( 1.14 ) Loss per common share: Basic $ ( 0.84 ) $ ( 1.71 ) $ ( 4.06 ) $ ( 4.50 ) Diluted $ ( 0.84 ) $ ( 1.71 ) $ ( 4.06 ) $ ( 4.50 ) Dilutive shares excluded from the calculation 680 84 406 268 Anti-dilutive share-based compensation awards 222 762 627 147 We use the if-converted method for calculating any potential dilutive effect of the Convertible Notes on diluted net loss per common share. The Convertible Notes would have a diluted impact on net income per share when the average price of our Common Stock for a given period exceeds the respective conversion price of the Convertible Notes. During the nine months ended September 30, 2024 and 2023, we had 8,816,881 potentially issuable shares of Common Stock related to our Convertible Notes that were not included in the computation of diluted net loss per common share as the effect of including these shares in the calculation would have been anti-dilutive.

Stockholders' Deficit

Stockholders' Deficit	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Deficit	Note 12. Stockholders’ Deficit Accumulated Other Comprehensive Loss The following tables presents the changes in accumulated other comprehensive loss (AOCL) by component: Nine Months Ended September 30, 2024 Foreign Accrued Foreign currency post-retirement exchange translation benefit forward Total adjustments liability contracts AOCL (in thousands) Balance at December 31, 2023 $ ( 7,627 ) $ — $ — $ ( 7,627 ) Other comprehensive income before reclassifications ( 1,258 ) — — ( 1,258 ) Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income ( 1,258 ) — — ( 1,258 ) Balance at March 31, 2024 ( 8,885 ) — — ( 8,885 ) Other comprehensive income before reclassifications ( 147 ) — — ( 147 ) Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income ( 147 ) — — ( 147 ) Balance at June 30, 2024 ( 9,032 ) — — ( 9,032 ) Other comprehensive income before reclassifications 1,213 ( 11,240 ) — ( 10,027 ) Amounts reclassified from AOCL — 748 — 748 Net tax effect — — — — Net current period other comprehensive income 1,213 ( 10,492 ) — ( 9,279 ) Balance at September 30, 2024 $ ( 7,819 ) $ ( 10,492 ) $ — $ ( 18,311 ) Nine Months Ended September 30, 2023 Foreign Accrued Foreign currency post-retirement exchange translation benefit forward Total adjustments liability contracts AOCL (in thousands) Balance at December 31, 2022 $ ( 10,845 ) $ — $ ( 4,542 ) $ ( 15,387 ) Other comprehensive income before reclassifications 2,010 — — 2,010 Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income 2,010 — — 2,010 Balance at March 31, 2023 ( 8,835 ) — ( 4,542 ) ( 13,377 ) Other comprehensive income before reclassifications ( 816 ) — 1,943 1,127 Amounts reclassified from AOCL — — ( 58 ) ( 58 ) Net tax effect — — — — Net current period other comprehensive income ( 816 ) — 1,885 1,069 Balance at June 30, 2023 ( 9,651 ) — ( 2,657 ) ( 12,308 ) Other comprehensive income before reclassifications ( 3,052 ) — 318 ( 2,734 ) Amounts reclassified from AOCL 901 — 3,307 4,208 Net tax effect — — — — Net current period other comprehensive income ( 2,151 ) — 3,625 1,474 Balance at September 30, 2023 $ ( 11,802 ) $ — $ 968 $ ( 10,834 )

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Legal Proceedings From time to time, we are party to various lawsuits, claims, and other legal proceedings that arise in the ordinary course of business, some of which may not be covered by insurance. Upon resolution of any pending legal matters, we may incur charges in excess of presently established reserves. Our management does not believe that any such charges would, individually or in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows. In January 2021, we received a complaint that was filed by the administrator for the Senvion GmbH (Senvion) insolvency estate in the Hamburg District court. The complaint asserts voidance claims against us in the aggregate amount of $ 13.3 million. The alleged voidance claims relate to payments that Senvion made to us for wind blades that we produced prior to Senvion filing for insolvency protection. We filed a response to these alleged voidance claims in August 2021 and filed a supplemental response in April 2022. In November 2022, the court appointed an independent expert to assess whether Senvion was solvent at the time of the relevant payments. The independent expert has not yet submitted its assessment to the court. We believe we have meritorious defenses to the alleged voidance claims. Due to the current procedural posture of this claim, we have determined that the ultimate outcome cannot be reasonably estimated at this time.

Concentration of Customers

Concentration of Customers	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Concentration of Customers	Note 14. Concentration of Customers Net sales from certain customers (in thousands) in excess of 10 percent of our total consolidated net sales are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Customer Net sales % of T otal Net sales % of T otal Net sales % of T otal Net sales % of T otal GE $ 140,014 36.8 % $ 93,156 25.2 % $ 334,801 34.0 % $ 273,335 24.0 % Nordex 126,166 33.1 99,636 26.9 341,518 34.7 353,286 31.0 Vestas 96,162 25.3 152,537 41.2 246,496 25.0 429,924 37.8 Trade accounts receivable from certain customers in excess of 10 percent of our total consolidated trade accounts receivable are as follows: September 30, December 31, 2024 2023 Customer % of Total % of Total Nordex 61.0 % 61.5 % GE 15.1 11.5 Enercon 11.6 17.6 Vestas 10.0 7.5

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	Note 15. Segment Reporting Our operating segments are defined geographically into four geographic operating segments—(1) the U.S., (2) Mexico, (3) Europe, the Middle East and Africa (EMEA) and (4) India. For a detailed discussion of our operating segments, refer to the discussion in Note 22, Segment Reporting , to the Notes to Consolidated Financial Statements within our Annual Report on Form 10-K for the year ended December 31, 2023. Our U.S. and India segments operate in the U.S. dollar. Our Mexico segment operates in its local currency and includes a U.S. parent company that operates in the U.S. dollar. Our EMEA segment operates in the Euro. The following tables set forth certain information regarding each of our segments: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Net sales by segment: U.S. $ 7,417 $ 4,566 $ 14,177 $ 19,035 Mexico 206,342 156,861 518,111 478,479 EMEA 123,950 149,254 325,455 451,347 India 43,053 59,561 126,882 189,207 Total net sales $ 380,762 $ 370,242 $ 984,625 $ 1,138,068 Net sales by geographic location: United States $ 7,417 $ 4,566 $ 14,177 $ 19,035 Mexico 206,342 156,861 518,111 478,479 Türkiye 121,592 147,328 321,267 447,640 Spain 2,358 1,926 4,188 3,707 India 43,053 59,561 126,882 189,207 Total net sales $ 380,762 $ 370,242 $ 984,625 $ 1,138,068 Income (loss) from continuing operations: U.S. $ ( 3,657 ) $ ( 3,039 ) $ ( 19,318 ) $ ( 10,459 ) Mexico ( 20,555 ) ( 32,926 ) ( 72,513 ) ( 114,887 ) EMEA 10,952 11,570 823 32,504 India 1,686 7,214 4,321 17,179 Total loss from continuing operations $ ( 11,574 ) $ ( 17,181 ) $ ( 86,687 ) $ ( 75,663 ) September 30, December 31, 2024 2023 (in thousands) Property, plant and equipment, net: U.S. $ 9,737 $ 10,660 Mexico 42,525 49,921 EMEA 40,227 40,435 India 23,793 27,792 Total property, plant and equipment, net $ 116,282 $ 128,808 (1) The losses from operations in our U.S. segment includes corporate general and administrative costs of $ 4.7 million and $ 22.3 million, respectively, for the three and nine months ended September 30, 2024 , and $ 8.8 million and $ 22.6 million, respectively, in the comparative prior year periods.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Event In November 2024, we purchased a series of call option contracts to mitigate cash flow variability associated with forecasted expenses in Mexican Pesos against changes in the U.S. Dollar to Mexican Peso exchange rate. A premium of $ 7.6 million was paid in a single transaction at hedge initiation and will be amortized through cost of sales within our consolidated statements of operations through December 2025. The notional value associated with these foreign exchange call option contracts is approximately 4.3 billion Mexican Pesos (or approximately $ 215.9 million).

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The condensed consolidated financial statements included herein have been prepared by us without audit, pursuant to the rules and regulations of the SEC and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in our Annual Report on Form 10-K. Although we believe the disclosures that are made are adequate to make the information presented herein not misleading, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted, as permitted by the SEC. The accompanying condensed consolidated financial statements reflect, in the opinion of our management, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2024, and the results of our operations, comprehensive income (loss) and cash flows for the periods presented. Interim results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation. The preparation of these condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying condensed consolidated financial statements include the accounts of TPI Composites, Inc. and all of our majority owned subsidiaries. All significant intercompany transactions and balances have been eliminated. We are exploring alternatives for the divestiture of our tooling business as part of our continued prioritization of capital for growth in the wind blade business, and as of September 30, 2024, we met the criteria to classify $ 5.0 million of assets and $ 1.1 million of liabilities as held for sale in our condensed consolidated balance sheets. The assets held for sale primarily relate to net property, plant and equipment, inventory, and accounts receivable. The liabilities held for sale primarily relate to accounts payable and other accrued expenses. Upon classifying the assets as held for sale, we recognized $ 3.9 million of impairment charges during the three months ended September 30, 2024. References to TPI Composites, Inc, the “Company,” “we,” “us” or “our” in these notes refer to TPI Composites, Inc. and its consolidated subsidiaries.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements - Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments are intended to increase reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted the standard for annual disclosure requirements on January 1, 2024, and plans to adopt the standard for interim periods beginning January 1, 2025, with early adoption permitted. The Company is evaluating the potential impact of its adoption on the Company’s audited Consolidated Financial Statements but does not anticipate that such adoption will have a material impact. Recently Issued Accounting Pronouncements - Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which is intended to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU also includes certain other amendments intended to improve the effectiveness of income tax disclosures. This ASU is effective for the Company’s fiscal year beginning January 1, 2025 and allows the use of a prospective or retrospective approach. The Company plans to adopt the standard on January 1, 2025 and has not yet determined the potential impact of its adoption on the Company’s audited Consolidated Financial Statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of discontinued major classes of assets and liabilities	The following tables present the carrying amounts of major classes of assets and liabilities that were included in discontinued operations: September 30, 2024 (in thousands) Automotive Asia Total Cash and cash equivalents $ — $ 735 $ 735 Other classes of assets — 130 130 Total assets of discontinued operations $ — $ 865 $ 865 Accounts payable and accrued expenses $ — $ 1,020 $ 1,020 Accrued restructuring — 762 762 Total liabilities of discontinued operations $ — $ 1,782 $ 1,782 December 31, 2023 (in thousands) Automotive Asia Total Cash and cash equivalents $ — $ 916 $ 916 Property, plant and equipment, net 14,204 — 14,204 Other classes of assets that are not major 3,583 604 4,187 Total assets of discontinued operations $ 17,787 $ 1,520 $ 19,307 Accounts payable and accrued expenses $ 1,897 $ 1,632 $ 3,529 Accrued restructuring — 1,183 1,183 Total liabilities of discontinued operations $ 1,897 $ 2,815 $ 4,712
Schedule of discontinued operations income statement	A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Operations are as follows: Three Months Ended September 30, 2024 Automotive Asia Total (in thousands) Net sales $ — $ — $ — Cost of sales 321 18 339 Gross loss ( 321 ) ( 18 ) ( 339 ) Loss on sale of discontinued operations 738 — 738 Restructuring charges, net 191 — 191 Loss from discontinued operations ( 1,250 ) ( 18 ) ( 1,268 ) Total other income (expense) 19 ( 208 ) ( 189 ) Loss before income taxes ( 1,231 ) ( 226 ) ( 1,457 ) Income tax provision ( 15 ) — ( 15 ) Net loss from discontinued operations $ ( 1,246 ) $ ( 226 ) $ ( 1,472 ) Three Months Ended September 30, 2023 Automotive Asia Total (in thousands) Net sales $ 2,618 $ 749 $ 3,367 Cost of sales 11,304 1,197 12,501 Gross loss ( 8,686 ) ( 448 ) ( 9,134 ) General and administrative expenses 19,892 — 19,892 (Gain) loss on sale of assets and asset impairments 693 ( 442 ) 251 Restructuring charges, net 457 ( 57 ) 400 Gain (loss) from discontinued operations ( 29,728 ) 51 ( 29,677 ) Total other expense ( 54 ) ( 103 ) ( 157 ) Loss before income taxes ( 29,782 ) ( 52 ) ( 29,834 ) Income tax provision ( 33 ) — ( 33 ) Net loss from discontinued operations $ ( 29,815 ) $ ( 52 ) $ ( 29,867 ) Nine Months Ended September 30, 2024 Automotive Asia Total (in thousands) Net sales $ 12,286 $ — $ 12,286 Cost of sales 19,215 89 19,304 Gross loss ( 6,929 ) ( 89 ) ( 7,018 ) General and administrative expenses ( 1,704 ) — ( 1,704 ) (Gain) loss on sale of assets and asset impairments 19,707 ( 338 ) 19,369 Loss on sale of discontinued operations 6,298 — 6,298 Restructuring charges, net 656 — 656 Income (loss) from discontinued operations ( 31,886 ) 249 ( 31,637 ) Total other income (expense) 199 ( 109 ) 90 Income (loss) before income taxes ( 31,687 ) 140 ( 31,547 ) Income tax provision ( 107 ) — ( 107 ) Net income (loss) from discontinued operations $ ( 31,794 ) $ 140 $ ( 31,654 ) Nine Months Ended September 30, 2023 Automotive Asia Total (in thousands) Net sales $ 20,129 $ 2,950 $ 23,079 Cost of sales 40,438 8,600 49,038 Gross loss ( 20,309 ) ( 5,650 ) ( 25,959 ) General and administrative expenses 19,892 — 19,892 Loss on sale of assets and asset impairments 693 1,479 2,172 Restructuring charges, net 556 1,403 1,959 Loss from discontinued operations ( 41,450 ) ( 8,532 ) ( 49,982 ) Total other income 26 1,437 1,463 Loss before income taxes ( 41,424 ) ( 7,095 ) ( 48,519 ) Income tax provision ( 82 ) — ( 82 ) Loss from discontinued operations $ ( 41,506 ) $ ( 7,095 ) $ ( 48,601 )
Summary of cash flows from discontinued operations	The following table presents summarized cash flows from discontinued operations that are included in the Condensed Consolidated Statements of Cash Flows: Nine Months Ended September 30, 2024 2023 (in thousands) Net cash provided by (used in) operating activities from discontinued operations $ 2,634 $ ( 3,915 ) Net cash used in investing activities from discontinued operations ( 3,387 ) ( 1,987 ) Additional non-cash items related to operating activities from discontinued operations: Share-based compensation expense ( 74 ) 284 Depreciation and amortization — 349

Revenue From Contracts with C_2

Revenue From Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Net Sales Revenue by Product for Each of Reportable Segments	The following tables represent the disaggregation of our net sales by product for each of our reportable segments: Three Months Ended September 30, 2024 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 205,523 $ 120,506 $ 43,053 $ 369,082 Field service, inspection and 7,417 819 3,444 — 11,680 Total net sales $ 7,417 $ 206,342 $ 123,950 $ 43,053 $ 380,762 Three Months Ended September 30, 2023 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 156,077 $ 146,593 $ 59,561 $ 362,231 Field service, inspection and 4,566 784 2,661 — 8,011 Total net sales $ 4,566 $ 156,861 $ 149,254 $ 59,561 $ 370,242 Nine Months Ended September 30, 2024 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 516,728 $ 318,667 $ 126,882 $ 962,277 Field service, inspection and 14,177 1,383 6,788 — 22,348 Total net sales $ 14,177 $ 518,111 $ 325,455 $ 126,882 $ 984,625 Nine Months Ended September 30, 2023 U.S. Mexico EMEA India Total (in thousands) Wind blade, tooling and other wind $ — $ 477,306 $ 446,044 $ 189,207 $ 1,112,557 Field service, inspection and 19,035 1,173 5,303 — 25,511 Total net sales $ 19,035 $ 478,479 $ 451,347 $ 189,207 $ 1,138,068
Summary of Contract Assets and Contract Liabilities	Contract assets and contract liabilities consisted of the following: September 30, December 31, 2024 2023 $ Change (in thousands) Gross contract assets $ 153,150 $ 121,483 $ 31,667 Less: reclassification from contract liabilities ( 28,299 ) ( 9,246 ) ( 19,053 ) Contract assets $ 124,851 $ 112,237 $ 12,614 September 30, December 31, 2024 2023 $ Change (in thousands) Gross contract liabilities $ 31,067 $ 33,267 $ ( 2,200 ) Less: reclassification to contract assets ( 28,299 ) ( 9,246 ) ( 19,053 ) Contract liabilities $ 2,768 $ 24,021 $ ( 21,253 )
Schedule of Estimate to Recognize Remaining Performance Obligations as Revenue	We estimate that we will recognize the remaining performance obligations as revenue as follows: $ % of Total (in thousands) Year Ending December 31, Remainder of 2024 $ 335,817 40.9 % 2025 484,354 59.1 Total remaining performance obligations $ 820,171 100.0 %

Accrued Warranty (Tables)

Accrued Warranty (Tables)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Schedule of Warranty Accrual Activity	The warranty accrual activity for the periods noted consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Warranty accrual at beginning of period $ 34,000 $ 49,288 $ 37,483 $ 22,347 Accrual during the period 3,641 3,105 9,127 9,183 Cost of warranty services provided during the period ( 10,147 ) ( 22,500 ) ( 27,014 ) ( 36,334 ) Changes in estimate for pre-existing warranties, 7,757 13,062 15,655 47,759 Warranty accrual at end of period $ 35,251 $ 42,955 $ 35,251 $ 42,955

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt, Net of Debt Issuance Costs and Current Maturities	Long-term debt, net of current maturities, consisted of the following: September 30, December 31, 2024 2023 (in thousands) 11 % Senior secured term loan—U.S. (1) $ 429,082 $ 395,041 5.25 % Convertible senior unsecured notes—U.S. (2) 132,500 132,500 Unsecured financing—EMEA 125,314 62,891 Secured and unsecured working capital—India 14,865 13,902 Equipment finance leases—Mexico 579 1,098 Equipment finance leases—EMEA 446 623 Other equipment finance leases 108 85 Total debt—principal 702,894 606,140 Less: Debt issuance costs ( 3,314 ) ( 4,023 ) Less: Debt discount (3) ( 93,746 ) ( 116,924 ) Total debt, net of debt issuance costs and debt discount 605,834 485,193 Less: Current maturities of long-term debt (4) ( 139,845 ) ( 70,465 ) Long-term debt, net of current maturities $ 465,989 $ 414,728 (1) As of September 30, 2024, includes principal balance of $ 393.0 million and $ 36.1 million of paid in kind interest. (2) The conversion requirements were not satisfied as of September 30, 2024 and as a result, the 5.25 % Convertible senior unsecured notes (the “Convertible Notes”) will not be eligible for optional conversion during the fourth quarter of 2024. (3) Unamortized debt discount is related to our 11 % senior secured term loan. The fair value of the senior secured term loan at issuance was $ 274.7 million, representing an initial $ 118.3 million discount. The debt discount is amortized to interest expense using the effective interest method over the term of the debt. (4) Current maturities of long-term debt are primarily related to outstanding working capital facilities of $ 124.1 million and $ 14.9 million in Türkiye and India, respectively.

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense Recognized in Condensed Consolidated Statements of Operations	The share-based compensation expense recognized in the condensed consolidated statements of operations was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Cost of goods sold $ 266 $ 875 $ 1,156 $ 2,026 General and administrative expenses 1,368 1,593 4,165 6,967 Total share-based compensation expense $ 1,634 $ 2,468 $ 5,321 $ 8,993
Schedule of Share-based Compensation Arrangements by Share-based Payment Award	The share-based compensation expense recognized by award type was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) RSUs $ 1,227 $ 2,124 $ 4,131 $ 7,234 Stock options 287 284 701 736 PSUs 120 60 489 1,023 Total share-based compensation expense $ 1,634 $ 2,468 $ 5,321 $ 8,993

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Components of Lease Cost	The components of lease cost were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Total operating lease cost $ 9,742 $ 9,993 $ 29,165 $ 30,140 Finance lease cost Amortization of assets under finance leases $ 998 $ 987 $ 2,992 $ 3,035 Interest on finance leases 59 25 204 90 Total finance lease cost $ 1,057 $ 1,012 $ 3,196 $ 3,125
Schedule of Lease Assets and Liabilities	Total lease assets and liabilities were as follows: September 30, December 31, 2024 2023 (in thousands) Operating Leases Operating lease right of use assets $ 130,739 $ 136,124 Current operating lease liabilities $ 26,100 $ 22,017 Noncurrent operating lease liabilities 108,096 117,133 Total operating lease liabilities $ 134,196 $ 139,150 Finance Leases Property, plant and equipment, gross $ 37,287 $ 37,044 Less: accumulated depreciation ( 32,393 ) ( 29,316 ) Total property, plant and equipment, net $ 4,894 $ 7,728 Current maturities of long-term debt $ 862 $ 1,035 Long-term debt, net of current maturities 271 771 Total finance lease liabilities $ 1,133 $ 1,806
Other Information Related to Leases	Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 28,260 $ 28,883 Operating cash flows from finance leases 204 82 Financing cash flows from finance leases 938 1,038

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss per Common Share	The following table sets forth the computation of basic and diluted net loss per common share: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands, except per share data) Numerator: Net loss from continuing operations $ ( 38,596 ) $ ( 26,948 ) $ ( 160,971 ) $ ( 95,578 ) Preferred stock dividends and accretion — ( 16,031 ) — ( 46,802 ) Net loss from continuing operations attributable ( 38,596 ) ( 42,979 ) ( 160,971 ) ( 142,380 ) Net loss from discontinued operations ( 1,472 ) ( 29,867 ) ( 31,654 ) ( 48,601 ) Net loss attributable to common stockholders $ ( 40,068 ) $ ( 72,846 ) $ ( 192,625 ) $ ( 190,981 ) Denominator: Basic weighted-average shares outstanding 47,556 42,570 47,422 42,448 Effect of dilutive awards — — — — Diluted weighted-average shares outstanding 47,556 42,570 47,422 42,448 Loss from continuing operations per common share: Basic $ ( 0.81 ) $ ( 1.01 ) $ ( 3.39 ) $ ( 3.36 ) Diluted $ ( 0.81 ) $ ( 1.01 ) $ ( 3.39 ) $ ( 3.36 ) Loss from discontinued operations per common share: Basic $ ( 0.03 ) $ ( 0.70 ) $ ( 0.67 ) $ ( 1.14 ) Diluted $ ( 0.03 ) $ ( 0.70 ) $ ( 0.67 ) $ ( 1.14 ) Loss per common share: Basic $ ( 0.84 ) $ ( 1.71 ) $ ( 4.06 ) $ ( 4.50 ) Diluted $ ( 0.84 ) $ ( 1.71 ) $ ( 4.06 ) $ ( 4.50 ) Dilutive shares excluded from the calculation 680 84 406 268 Anti-dilutive share-based compensation awards 222 762 627 147

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following tables presents the changes in accumulated other comprehensive loss (AOCL) by component: Nine Months Ended September 30, 2024 Foreign Accrued Foreign currency post-retirement exchange translation benefit forward Total adjustments liability contracts AOCL (in thousands) Balance at December 31, 2023 $ ( 7,627 ) $ — $ — $ ( 7,627 ) Other comprehensive income before reclassifications ( 1,258 ) — — ( 1,258 ) Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income ( 1,258 ) — — ( 1,258 ) Balance at March 31, 2024 ( 8,885 ) — — ( 8,885 ) Other comprehensive income before reclassifications ( 147 ) — — ( 147 ) Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income ( 147 ) — — ( 147 ) Balance at June 30, 2024 ( 9,032 ) — — ( 9,032 ) Other comprehensive income before reclassifications 1,213 ( 11,240 ) — ( 10,027 ) Amounts reclassified from AOCL — 748 — 748 Net tax effect — — — — Net current period other comprehensive income 1,213 ( 10,492 ) — ( 9,279 ) Balance at September 30, 2024 $ ( 7,819 ) $ ( 10,492 ) $ — $ ( 18,311 ) Nine Months Ended September 30, 2023 Foreign Accrued Foreign currency post-retirement exchange translation benefit forward Total adjustments liability contracts AOCL (in thousands) Balance at December 31, 2022 $ ( 10,845 ) $ — $ ( 4,542 ) $ ( 15,387 ) Other comprehensive income before reclassifications 2,010 — — 2,010 Amounts reclassified from AOCL — — — — Net tax effect — — — — Net current period other comprehensive income 2,010 — — 2,010 Balance at March 31, 2023 ( 8,835 ) — ( 4,542 ) ( 13,377 ) Other comprehensive income before reclassifications ( 816 ) — 1,943 1,127 Amounts reclassified from AOCL — — ( 58 ) ( 58 ) Net tax effect — — — — Net current period other comprehensive income ( 816 ) — 1,885 1,069 Balance at June 30, 2023 ( 9,651 ) — ( 2,657 ) ( 12,308 ) Other comprehensive income before reclassifications ( 3,052 ) — 318 ( 2,734 ) Amounts reclassified from AOCL 901 — 3,307 4,208 Net tax effect — — — — Net current period other comprehensive income ( 2,151 ) — 3,625 1,474 Balance at September 30, 2023 $ ( 11,802 ) $ — $ 968 $ ( 10,834 )

Concentration of Customers (Tab

Concentration of Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Schedule of Revenues from Customers	Net sales from certain customers (in thousands) in excess of 10 percent of our total consolidated net sales are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Customer Net sales % of T otal Net sales % of T otal Net sales % of T otal Net sales % of T otal GE $ 140,014 36.8 % $ 93,156 25.2 % $ 334,801 34.0 % $ 273,335 24.0 % Nordex 126,166 33.1 99,636 26.9 341,518 34.7 353,286 31.0 Vestas 96,162 25.3 152,537 41.2 246,496 25.0 429,924 37.8
Schedule of Trade Accounts Receivable from Certain Customers	Trade accounts receivable from certain customers in excess of 10 percent of our total consolidated trade accounts receivable are as follows: September 30, December 31, 2024 2023 Customer % of Total % of Total Nordex 61.0 % 61.5 % GE 15.1 11.5 Enercon 11.6 17.6 Vestas 10.0 7.5

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables set forth certain information regarding each of our segments: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Net sales by segment: U.S. $ 7,417 $ 4,566 $ 14,177 $ 19,035 Mexico 206,342 156,861 518,111 478,479 EMEA 123,950 149,254 325,455 451,347 India 43,053 59,561 126,882 189,207 Total net sales $ 380,762 $ 370,242 $ 984,625 $ 1,138,068 Net sales by geographic location: United States $ 7,417 $ 4,566 $ 14,177 $ 19,035 Mexico 206,342 156,861 518,111 478,479 Türkiye 121,592 147,328 321,267 447,640 Spain 2,358 1,926 4,188 3,707 India 43,053 59,561 126,882 189,207 Total net sales $ 380,762 $ 370,242 $ 984,625 $ 1,138,068 Income (loss) from continuing operations: U.S. $ ( 3,657 ) $ ( 3,039 ) $ ( 19,318 ) $ ( 10,459 ) Mexico ( 20,555 ) ( 32,926 ) ( 72,513 ) ( 114,887 ) EMEA 10,952 11,570 823 32,504 India 1,686 7,214 4,321 17,179 Total loss from continuing operations $ ( 11,574 ) $ ( 17,181 ) $ ( 86,687 ) $ ( 75,663 ) September 30, December 31, 2024 2023 (in thousands) Property, plant and equipment, net: U.S. $ 9,737 $ 10,660 Mexico 42,525 49,921 EMEA 40,227 40,435 India 23,793 27,792 Total property, plant and equipment, net $ 116,282 $ 128,808 (1) The losses from operations in our U.S. segment includes corporate general and administrative costs of $ 4.7 million and $ 22.3 million, respectively, for the three and nine months ended September 30, 2024 , and $ 8.8 million and $ 22.6 million, respectively, in the comparative prior year periods.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Assets held for sale	$ 4,966	$ 0
Liabilities held for sale	1,073	$ 0
Impairment charges	$ 3,900

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charge of property and equipment	$ 19.7
Loss on sale of discontinued operations	$ 6.3

Discontinued Operations - Sched

Discontinued Operations - Schedule Of discontinued major classes of assets and liabilities (Details) - Segment Discontinued Operations - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	$ 735	$ 916
Property, plant and equipment, net		14,204
Other classes of assets	130	4,187
Total assets of discontinued operations	865	19,307
Accounts payable and accrued expenses	1,020	3,529
Accrued restructuring	762	1,183
Total liabilities of discontinued operations	1,782	4,712
APAC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	735	916
Property, plant and equipment, net		0
Other classes of assets	130	604
Total assets of discontinued operations	865	1,520
Accounts payable and accrued expenses	1,020	1,632
Accrued restructuring	762	1,183
Total liabilities of discontinued operations	1,782	2,815
Automotive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	0	0
Property, plant and equipment, net		14,204
Other classes of assets	0	3,583
Total assets of discontinued operations	0	17,787
Accounts payable and accrued expenses	0	1,897
Accrued restructuring	0	0
Total liabilities of discontinued operations	$ 0	$ 1,897

Discontinued Operations - Sch_2

Discontinued Operations - Schedule Of Components Of Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 380,762	$ 370,242	$ 984,625	$ 1,138,068
Cost of sales	369,882	367,915	982,939	1,163,429
Gross loss	2,767	(2,490)	(49,334)	(35,535)
General and administrative expenses	(4,717)	(8,817)	(22,331)	(22,618)
(Gain) loss on sale of assets and asset impairments	(9,196)	(5,164)	(14,114)	(14,576)
Loss on sale of discontinued operations			6,298	0
Restructuring charges, net	428	710	908	2,934
Income (loss) from discontinued operations	(11,574)	(17,181)	(86,687)	(75,663)
Total other income (expense)	(25,781)	(1,760)	(67,389)	(7,792)
Income (loss) before income taxes	(37,355)	(18,941)	(154,076)	(83,455)
Income tax provision	1,241	8,007	6,895	12,123
Net income (loss) from discontinued operations	(1,472)	(29,867)	(31,654)	(48,601)
Segment Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	3,367	12,286	23,079
Cost of sales	339	12,501	19,304	49,038
Gross loss	(339)	(9,134)	(7,018)	(25,959)
General and administrative expenses		(19,892)	(1,704)	(19,892)
(Gain) loss on sale of assets and asset impairments		251	19,369	2,172
Loss on sale of discontinued operations	738		6,298
Restructuring charges, net	191	400	656	1,959
Income (loss) from discontinued operations	(1,268)	(29,677)	(31,637)	(49,982)
Total other income (expense)	(189)	(157)	90	1,463
Income (loss) before income taxes	(1,457)	(29,834)	(31,547)	(48,519)
Income tax provision	(15)	(33)	(107)	(82)
Net income (loss) from discontinued operations	(1,472)	(29,867)	(31,654)	(48,601)
Segment Discontinued Operations | APAC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	749	0	2,950
Cost of sales	18	1,197	89	8,600
Gross loss	(18)	(448)	(89)	(5,650)
General and administrative expenses		0	0	0
(Gain) loss on sale of assets and asset impairments		(442)	(338)	1,479
Loss on sale of discontinued operations	0		0
Restructuring charges, net	0	(57)	0	1,403
Income (loss) from discontinued operations	(18)	51	249	(8,532)
Total other income (expense)	(208)	(103)	(109)	1,437
Income (loss) before income taxes	(226)	(52)	140	(7,095)
Income tax provision	0	0	0	0
Net income (loss) from discontinued operations	(226)	(52)	140	(7,095)
Segment Discontinued Operations | Automotive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	2,618	12,286	20,129
Cost of sales	321	11,304	19,215	40,438
Gross loss	(321)	(8,686)	(6,929)	(20,309)
General and administrative expenses		(19,892)	(1,704)	(19,892)
(Gain) loss on sale of assets and asset impairments		693	19,707	693
Loss on sale of discontinued operations	738		6,298
Restructuring charges, net	191	457	656	556
Income (loss) from discontinued operations	(1,250)	(29,728)	(31,886)	(41,450)
Total other income (expense)	19	(54)	199	26
Income (loss) before income taxes	(1,231)	(29,782)	(31,687)	(41,424)
Income tax provision	(15)	(33)	(107)	(82)
Net income (loss) from discontinued operations	$ (1,246)	$ (29,815)	$ (31,794)	$ (41,506)

Discontinued Operations - Sch_3

Discontinued Operations - Schedule of Discontinued Operations Cash Flow Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Additional non-cash items related to operating activities from discontinued operations:
Share-based compensation expense	$ 5,282	$ 9,278
Segment Discontinued Operations
Net cash provided by (used in) operating activities from discontinued operations	2,634	(3,915)
Net cash used in investing activities from discontinued operations	(3,387)	(1,987)
Additional non-cash items related to operating activities from discontinued operations:
Share-based compensation expense	(74)	284
Depreciation and amortization	$ 0	$ 349

Revenue From Contracts with C_3

Revenue From Contracts with Customers - Summary of Disaggregation of Net Sales Revenue by Product for Each of Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Net sales	$ 380,762	$ 370,242	$ 984,625	$ 1,138,068
U.S. Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	7,417	4,566	14,177	19,035
Mexico Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	206,342	156,861	518,111	478,479
EMEA Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	123,950	149,254	325,455	451,347
India Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	43,053	59,561	126,882	189,207
Wind Blade, Tooling and Other Wind Related Sales [Member]
Disaggregation Of Revenue [Line Items]
Net sales	369,082	362,231	962,277	1,112,557
Wind Blade, Tooling and Other Wind Related Sales [Member] | U.S. Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	0	0	0	0
Wind Blade, Tooling and Other Wind Related Sales [Member] | Mexico Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	205,523	156,077	516,728	477,306
Wind Blade, Tooling and Other Wind Related Sales [Member] | EMEA Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	120,506	146,593	318,667	446,044
Wind Blade, Tooling and Other Wind Related Sales [Member] | India Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	43,053	59,561	126,882	189,207
Field Service, Inspection and Repair Services Sales [Member]
Disaggregation Of Revenue [Line Items]
Net sales	11,680	8,011	22,348	25,511
Field Service, Inspection and Repair Services Sales [Member] | U.S. Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	7,417	4,566	14,177	19,035
Field Service, Inspection and Repair Services Sales [Member] | Mexico Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	819	784	1,383	1,173
Field Service, Inspection and Repair Services Sales [Member] | EMEA Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	3,444	2,661	6,788	5,303
Field Service, Inspection and Repair Services Sales [Member] | India Segment [Member]
Disaggregation Of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Revenue From Contracts with C_4

Revenue From Contracts with Customers - Summary of Contract Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Gross contract assets	$ 153,150	$ 121,483
Less: reclassification from contract liabilities	(28,299)	(9,246)
Contract assets	124,851	$ 112,237
Gross contract assets, Change	31,667
Less: reclassification from contract liabilities, Change	(19,053)
Contract assets, Change	$ 12,614

Revenue From Contracts with C_5

Revenue From Contracts with Customers - Summary of Contract Liabilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Gross contract liabilities	$ 31,067	$ 33,267
Less: reclassification to contract assets	(28,299)	(9,246)
Contract liabilities	2,768	$ 24,021
Gross contract liabilities, Change	(2,200)
Less: reclassification to contract assets, Change	(19,053)
Contract liabilities, Change	$ (21,253)

Revenue From Contracts with C_6

Revenue From Contracts with Customers - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contracts with Customers [Line Items]
Increase in contract assets			$ 31,700
Decrease in contract liabilities			2,200
Transaction price allocated to remaining performance obligations to be satisfied in future periods	$ 820,171		820,171
Net revenue recognized from performance obligations satisfied in previous periods, decrease amount	$ 4,700	$ 100	24,700	$ 15,600
Precision Molding And Assembly Systems And Wind Blades [Member]
Revenue from Contracts with Customers [Line Items]
Contract liability revenue recognized			$ 21,300

Revenue From Contracts with C_7

Revenue From Contracts with Customers - Schedule of Estimate to Recognize Remaining Performance Obligations as Revenue (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Total remaining performance obligations	$ 820,171
% of Total remaining performance obligations	100%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Total remaining performance obligations	$ 335,817
% of Total remaining performance obligations	40.90%
Remaining performance obligations, expected timing of satisfaction period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Total remaining performance obligations	$ 484,354
% of Total remaining performance obligations	59.10%
Remaining performance obligations, expected timing of satisfaction period	1 year

Revenue From Contracts with C_8

Revenue From Contracts with Customers - Schedule of Estimate to Recognize Remaining Performance Obligations as Revenue (Details1)	Sep. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Percentage	100%

Significant Risks and Uncerta_2

Significant Risks and Uncertainties - Additional Information (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Cash in short-term deposits in interest bearing accounts	$ 9,576,000	$ 10,838,000
Cash and Cash Equivalents, at Carrying Value, Total	125,871,000	161,059,000	$ 160,648,000	$ 133,546,000
U.S. [Member]
Concentration Risk [Line Items]
Cash in bank deposit and money market accounts	74,400,000	116,000,000
Cash in short-term deposits in interest bearing accounts	9,600,000	10,800,000
U.S. [Member] | Maximum [Member]
Concentration Risk [Line Items]
Cash deposit insured amount	250,000	250,000
Turkey [Member]
Concentration Risk [Line Items]
Cash in bank deposit and money market accounts	45,000,000	40,600,000
Mexico [Member]
Concentration Risk [Line Items]
Cash in bank deposit and money market accounts	1,300,000	1,200,000
India [Member]
Concentration Risk [Line Items]
Cash in bank deposit and money market accounts	4,600,000	1,900,000
Other Countries [Member]
Concentration Risk [Line Items]
Cash in bank deposit and money market accounts	600,000	1,300,000
Unrestricted Cash [Member] | Segment Discontinued Operations | Other Countries [Member]
Concentration Risk [Line Items]
Cash and Cash Equivalents, at Carrying Value, Total	$ 700,000	$ 900,000

Accrued Warranty - Schedule of

Accrued Warranty - Schedule of Warranty Accrual Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Warranty accrual at beginning of period	$ 34,000	$ 49,288	$ 37,483	$ 22,347
Accrual during the period	3,641	3,105	9,127	9,183
Cost of warranty services provided during the period	(10,147)	(22,500)	(27,014)	(36,334)
Changes in estimate for pre-existing warranties, including expirations during the period and foreign exchange impact	7,757	13,062	15,655	47,759
Warranty accrual at end of period	$ 35,251	$ 42,955	$ 35,251	$ 42,955

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt, Net of Current Maturities (Detail) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total long-term debt		$ 702,894	$ 606,140
Less: Debt issuance cost		(3,314)	(4,023)
Less: Debt discount	[1]	(93,746)	(116,924)
Total debt, net of debt issuance costs and debt discount		605,834	485,193
Less: Current maturities of long-term debt	[2]	(139,845)	(70,465)
Long-term debt, net of current maturities		465,989	414,728
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Less: Debt discount		(118,300)
Senior Secured Term Loan [Member] | U.S. [Member]
Debt Instrument [Line Items]
Total long-term debt	[3]	429,082	395,041
Convertible Senior Unsecured Notes [Member] | U.S. [Member]
Debt Instrument [Line Items]
Total long-term debt	[4]	132,500	132,500
Unsecured Financing [Member] | EMEA [Member]
Debt Instrument [Line Items]
Total long-term debt		125,314	62,891
Secured And Unsecured Working Capital Loans [Member] | India [Member]
Debt Instrument [Line Items]
Total long-term debt		14,865	13,902
Equipment Finance Lease [Member] | EMEA [Member]
Debt Instrument [Line Items]
Total long-term debt		446	623
Equipment Finance Lease [Member] | Mexico [Member]
Debt Instrument [Line Items]
Total long-term debt		579	1,098
Other Equipment Finance Lease [Member]
Debt Instrument [Line Items]
Total long-term debt		$ 108	$ 85
[1] Unamortized debt discount is related to our 11 % senior secured term loan. The fair value of the senior secured term loan at issuance was $ 274.7 million, representing an initial $ 118.3 million discount. The debt discount is amortized to interest expense using the effective interest method over the term of the debt. Current maturities of long-term debt are primarily related to outstanding working capital facilities of $ 124.1 million and $ 14.9 million in Türkiye and India, respectively. As of September 30, 2024, includes principal balance of $ 393.0 million and $ 36.1 million of paid in kind interest. The conversion requirements were not satisfied as of September 30, 2024 and as a result, the 5.25 % Convertible senior unsecured notes (the “Convertible Notes”) will not be eligible for optional conversion during the fourth quarter of 2024.

Debt - Schedule of Long-Term _2

Debt - Schedule of Long-Term Debt, Net of Debt Issuance Costs and Current Maturities (Parenthetical) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Convertible senior unsecured notes		5.25%
Paid in kind interest		$ 34,041	$ 0
Unamortized debt discount	[1]	93,746		$ 116,924
Turkiye [Member]
Debt Instrument [Line Items]
Working capital debt facilities		124,100
India [Member]
Debt Instrument [Line Items]
Working capital debt facilities		14,900
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Aggregate principal amount of commitments		393,000
Paid in kind interest		36,100
Senior secured term loan, fair value		274,700
Unamortized debt discount		$ 118,300
Interest rates		11%
[1] Unamortized debt discount is related to our 11 % senior secured term loan. The fair value of the senior secured term loan at issuance was $ 274.7 million, representing an initial $ 118.3 million discount. The debt discount is amortized to interest expense using the effective interest method over the term of the debt.

Share-Based Compensation Plan_2

Share-Based Compensation Plans - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 shares
First And Second Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25%
Timed-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation plans, shares issued	722,534
Timed-Based Restricted Stock Units [Member] | Third anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50%
Performance-Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation plans, shares issued	151,795
Performance-Based Restricted Stock Units [Member] | Certain Total Share Holder Return Targets
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation plans, shares issued	181,371
Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation plans, shares issued	66,261
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation plans, shares issued	1,022,318

Share-Based Compensation Plan_3

Share-Based Compensation Plans - Schedule of Share-based Compensation Expense Recognized in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 1,634	$ 2,468	$ 5,321	$ 8,993
Cost of Goods Sold [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	266	875	1,156	2,026
General and Administrative Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 1,368	$ 1,593	$ 4,165	$ 6,967

Share-Based Compensation Plan_4

Share-Based Compensation Plans - Schedule of Share-based Compensation Arrangements by Share-based Payment Award (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 1,634	$ 2,468	$ 5,321	$ 8,993
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	1,227	2,124	4,131	7,234
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	287	284	701	736
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 120	$ 60	$ 489	$ 1,023

Leases - Additional Information

Leases - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024
Lessee Lease Description [Line Items]
Lessee, operating lease, existence of option to extend [true false]	true
Lessee, finance lease, option to extend	include options to extend the leases up to ten years
Lessee, finance lease, existence of option to extend [true false]	true
Minimum [Member]
Lessee Lease Description [Line Items]
Operating and Finance leases, remaining lease terms	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating and Finance leases, remaining lease terms	10 years
Lessee, lease options to extend lease term	10 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Total operating lease cost	$ 9,742	$ 9,993	$ 29,165	$ 30,140
Finance lease cost
Amortization of assets under finance leases	998	987	2,992	3,035
Interest on finance leases	59	25	204	90
Total finance lease cost	$ 1,057	$ 1,012	$ 3,196	$ 3,125

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right of use assets	$ 130,739	$ 136,124
Current operating lease liabilities	26,100	22,017
Noncurrent operating lease liabilities	108,096	117,133
Total operating lease liabilities	134,196	139,150
Property, plant and equipment, gross	37,287	37,044
Less: accumulated depreciation	(32,393)	(29,316)
Total property, plant and equipment, net	$ 4,894	$ 7,728
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Current maturities of long-term debt	$ 862	$ 1,035
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Long-term debt, net of current maturities	$ 271	$ 771
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation
Total finance lease liabilities	$ 1,133	$ 1,806

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 28,260	$ 28,883
Operating cash flows from finance leases	204	82
Financing cash flows from finance leases	$ 938	$ 1,038

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic BenefitCost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan [Abstract]
Amortization of unrecognized actuarial losses	$ 748	$ 0	$ 748	$ 0

Employee Benefit Plans (Additio

Employee Benefit Plans (Additional Information) (Details)	9 Months Ended
	Sep. 30, 2024
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent for plan participant	100%
Employer matching contributtion vested percentage	100%
Maximum annual contribution by employer	4%
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution percent for plan participant	13%

Financial Instruments - Schedul

Financial Instruments - Schedule of Pretax Amounts Reclassified From Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 369,882	$ 367,915	$ 982,939	$ 1,163,429

Restructuring Charges, net - Sc

Restructuring Charges, net - Schedule of Restructuring Charges, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Total restructuring charges, net	$ 428	$ 710	$ 908	$ 2,934

Restructuring Charges, net - Ad

Restructuring Charges, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 428	$ 710	$ 908	$ 2,934

Restructuring Charges, net - Su

Restructuring Charges, net - Summary of Restructuring Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net	$ 428	$ 710	$ 908	$ 2,934

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Tax Credit Carryforward [Line Items]
Income tax provision	$ (1,241)	$ (8,007)	$ (6,895)	$ (12,123)

Net Loss Per Common Share - Com

Net Loss Per Common Share - Computation of Basic and Diluted Net Loss per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net loss from continuing operations	$ (38,596)	$ (26,948)	$ (160,971)	$ (95,578)
Preferred stock dividends and accretion	0	(16,031)	0	(46,802)
Net loss from continuing operations attributable to common stockholders	(38,596)	(42,979)	(160,971)	(142,380)
Net loss from discontinued operations	(1,472)	(29,867)	(31,654)	(48,601)
Net loss attributable to common stockholders	$ (40,068)	$ (72,846)	$ (192,625)	$ (190,981)
Basic weighted-average shares outstanding	47,556	42,570	47,422	42,448
Effect of dilutive awards	0	0	0	0
Diluted weighted-average shares outstanding	47,556	42,570	47,422	42,448
Loss from continuing operations per common share:
Basic	$ (0.81)	$ (1.01)	$ (3.39)	$ (3.36)
Diluted	(0.81)	(1.01)	(3.39)	(3.36)
Loss from discontinued operations per common share:
Basic	(0.03)	(0.7)	(0.67)	(1.14)
Diluted	(0.03)	(0.7)	(0.67)	(1.14)
Loss per common share:
Basic	(0.84)	(1.71)	(4.06)	(4.5)
Diluted	$ (0.84)	$ (1.71)	$ (4.06)	$ (4.5)
Dilutive shares excluded from the calculation due to net losses in the period	680	84	406	268
Anti dilutive share-based compensation awards that would be excluded from the calculation if income was reported in the period	222	762	627	147

Net Loss Per Common Share (Addi

Net Loss Per Common Share (Additional Information) (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Short-Term Debt [Line Items]
Convertible senior unsecured notes	5.25%
Convertible Notes
Short-Term Debt [Line Items]
Potentially issuable common shares	8,816,881,000	8,816,881,000

Stockholders' Deficit - Schedul

Stockholders' Deficit - Schedule of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ (274,259)	$ (184,067)	$ (122,304)	$ (79,089)	$ (3,216)	$ 50,487
Net current period other comprehensive income	(9,279)	(147)	(1,258)	1,474	1,069	2,010
Ending balance	(321,995)	(274,259)	(184,067)	(147,837)	(79,089)	(3,216)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(9,032)	(8,885)	(7,627)	(9,651)	(8,835)	(10,845)
Other comprehensive income before reclassifications	1,213	(147)	(1,258)	(3,052)	(816)	2,010
Amounts reclassified from AOCL	0	0		901	0	0
Net tax effect	0	0	0	0	0	0
Net current period other comprehensive income	1,213	(147)	(1,258)	(2,151)	(816)	2,010
Ending balance	(7,819)	(9,032)	(8,885)	(11,802)	(9,651)	(8,835)
Accrued post retirement benefit liability [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	0	0	0	0	0	0
Other comprehensive income before reclassifications	(11,240)	0	0	0	0	0
Amounts reclassified from AOCL	(748)	0		0	0	0
Net tax effect	0	0	0	0	0	0
Net current period other comprehensive income	(10,492)	0	0	0	0	0
Ending balance	(10,492)	0	0	0	0	0
Foreign Exchange Forward Contract [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	0	0	0	(2,657)	(4,542)	(4,542)
Other comprehensive income before reclassifications	0	0	0	318	1,943	0
Amounts reclassified from AOCL	0	0		3,307	(58)	0
Net tax effect	0	0	0	0	0	0
Net current period other comprehensive income	0	0	0	3,625	1,885	0
Ending balance	0	0	0	968	(2,657)	(4,542)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(9,032)	(8,885)	(7,627)	(12,308)	(13,377)	(15,387)
Other comprehensive income before reclassifications	(10,027)	(147)	(1,258)	(2,734)	1,127	2,010
Amounts reclassified from AOCL	(748)	0		4,208	(58)	0
Net tax effect	0	0	0	0	0	0
Net current period other comprehensive income	(9,279)	(147)	(1,258)	1,474	1,069	2,010
Ending balance	$ (18,311)	$ (9,032)	$ (8,885)	$ (10,834)	$ (12,308)	$ (13,377)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2021	Sep. 30, 2024
Complaint Asserts Voidance	$ 13.3
Impairment charge related to fixed assets		$ 3.9

Concentration of Customers - Ad

Concentration of Customers - Additional Information (Detail) - Customer Concentration Risk [Member] - Minimum [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Sales Revenues [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	10%	10%	10%	10%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			10%		10%

Concentration of Customers - Sc

Concentration of Customers - Schedule of Revenues from Certain Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Concentration Risk [Line Items]
Net sales	$ 380,762	$ 370,242	$ 984,625	$ 1,138,068
Sales Revenues [Member] | Vestas [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Net sales	$ 96,162	$ 152,537	$ 246,496	$ 429,924
Percentage of Total	25.30%	41.20%	25%	37.80%
Sales Revenues [Member] | GE [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Net sales	$ 140,014	$ 93,156	$ 334,801	$ 273,335
Percentage of Total	36.80%	25.20%	34%	24%
Sales Revenues [Member] | Nordex [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Net sales	$ 126,166	$ 99,636	$ 341,518	$ 353,286
Percentage of Total	33.10%	26.90%	34.70%	31%

Concentration of Customers - _2

Concentration of Customers - Schedule of Trade Accounts Receivable from Certain Customers (Detail) - Accounts Receivable [Member] - Customer Concentration Risk [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Nordex [Member]
Concentration Risk [Line Items]
Percentage of Total	61%	61.50%
Enercon [Member]
Concentration Risk [Line Items]
Percentage of Total	11.60%	17.60%
Vestas [Member]
Concentration Risk [Line Items]
Percentage of Total	10%	7.50%
GE [Member]
Concentration Risk [Line Items]
Percentage of Total	15.10%	11.50%

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 380,762	$ 370,242	$ 984,625	$ 1,138,068
Income (loss) from continuing operations:	(11,574)	(17,181)	(86,687)	(75,663)
Total property, plant and equipment, net	116,282		116,282		$ 128,808
U.S. [Member]
Segment Reporting Information [Line Items]
Net sales	7,417	4,566	14,177	19,035
Mexico [Member]
Segment Reporting Information [Line Items]
Net sales	206,342	156,861	518,111	478,479
Turkey [Member]
Segment Reporting Information [Line Items]
Net sales	121,592	147,328	321,267	447,640
Spain [Member]
Segment Reporting Information [Line Items]
Net sales	2,358	1,926	4,188	3,707
India [Member]
Segment Reporting Information [Line Items]
Net sales	43,053	59,561	126,882	189,207
U.S. Segment [Member]
Segment Reporting Information [Line Items]
Net sales	7,417	4,566	14,177	19,035
Income (loss) from continuing operations:	(3,657)	(3,039)	(19,318)	(10,459)
Total property, plant and equipment, net	9,737		9,737		10,660
Mexico Segment [Member]
Segment Reporting Information [Line Items]
Net sales	206,342	156,861	518,111	478,479
Income (loss) from continuing operations:	(20,555)	(32,926)	(72,513)	(114,887)
Total property, plant and equipment, net	42,525		42,525		49,921
EMEA Segment [Member]
Segment Reporting Information [Line Items]
Net sales	123,950	149,254	325,455	451,347
Income (loss) from continuing operations:	10,952	11,570	823	32,504
Total property, plant and equipment, net	40,227		40,227		40,435
India Segment [Member]
Segment Reporting Information [Line Items]
Net sales	43,053	59,561	126,882	189,207
Income (loss) from continuing operations:	1,686	$ 7,214	4,321	$ 17,179
Total property, plant and equipment, net	$ 23,793		$ 23,793		$ 27,792

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Segment Information (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
General and administrative costs	$ 4,717	$ 8,817	$ 22,331	$ 22,618
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
General and administrative costs		$ 19,892	$ 1,704	$ 19,892

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - Nov. 30, 2024 - Subsequent Event [Member] $ in Millions, $ in Billions	USD ($)	MXN ($)
Subsequent Event [Line Items]
Hedged asset, premium paid	$ 7.6
Foreign exchange call option contracts, notional value	$ 215.9	$ 4.3