Tecnoglass (TGLS) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-35436
Entity Registrant Name	TECNOGLASS INC.
Entity Central Index Key	0001534675
Entity Tax Identification Number	98-1271120
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Avenida Circunvalar a 100 mts de la Via 40
Entity Address, Address Line Two	Barrio Las Flores
Entity Address, City or Town	Barranquilla
Entity Address, Country	CO
Entity Address, Postal Zip Code	00000
City Area Code	(+57)(605)
Local Phone Number	373 4000
Title of 12(b) Security	Ordinary Shares
Trading Symbol	TGLS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,674,773

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 86,520	$ 66,899
Investments	2,038	2,387
Trade accounts receivable, net	100,039	88,368
Due from related parties	8,397	8,574
Inventories	80,142	80,742
Contract assets – current portion	21,927	26,288
Other current assets	18,308	13,545
Total current assets	317,371	286,803
Long-term assets:
Property, plant and equipment, net	156,864	152,266
Deferred income taxes	2,225	268
Contract assets – non-current	10,742	10,228
Due from related parties - long term		484
Long-term trade accounts receivable	4,387	2,985
Intangible assets	3,842	5,112
Goodwill	23,561	23,561
Long-term investments	50,705	47,535
Other long-term assets	4,545	2,783
Total long-term assets	256,871	245,222
Total assets	574,242	532,025
Current liabilities:
Short-term debt and current portion of long-term debt	13,047	1,764
Trade accounts payable and accrued expenses	74,176	42,178
Accrued interest expense	3	7,175
Due to related parties	2,903	4,750
Dividends payable	1,353	1,352
Contract liabilities – current portion	34,507	24,694
Other current liabilities	20,985	9,630
Total current liabilities	146,974	91,543
Long-term liabilities:
Deferred income taxes	158	3,170
Long-term liabilities from related parties	662	645
Contract liabilities – non-current	605	977
Long-term debt	189,340	222,722
Total long-term liabilities	190,765	227,514
Total liabilities	337,739	319,057
SHAREHOLDERS’ EQUITY
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 47,674,773 and 47,674,773 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	5	5
Legal Reserves	2,273	2,273
Additional paid-in capital	219,290	219,290
Retained earnings	78,711	34,326
Accumulated other comprehensive loss	(64,513)	(43,512)
Shareholders’ equity attributable to controlling interest	235,766	212,382
Shareholders’ equity attributable to non-controlling interest	737	586
Total shareholders’ equity	236,503	212,968
Total liabilities and shareholders’ equity	$ 574,242	$ 532,025

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred shares, par value	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred stock, shares outstanding	0	0
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, shares issued	47,674,773	47,674,773
Ordinary shares, shares outstanding	47,674,773	47,674,773

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating revenues:
Total operating revenues	$ 130,410	$ 103,309	$ 363,004	$ 272,549
Cost of sales	78,765	63,188	217,589	170,205
Gross profit	51,645	40,121	145,415	102,344
Operating expenses:
Selling expense	(13,310)	(10,534)	(36,421)	(29,163)
General and administrative expense	(8,181)	(9,381)	(25,050)	(24,601)
Total operating expenses	(21,491)	(19,915)	(61,471)	(53,764)
Operating income	30,154	20,206	83,944	48,580
Non-operating income (expenses), net	139	(138)	58	(232)
Equity method income	1,291	695	3,170	789
Foreign currency transactions gains (losses)	188	(3,066)	333	(22,223)
Gain (loss) on debt extinguishment	175		(10,803)
Interest expense and deferred cost of financing	(2,156)	(6,147)	(8,120)	(17,236)
Income before taxes	29,791	11,550	68,582	9,678
Income tax	(8,848)	(3,279)	(20,112)	(4,021)
Net income	20,943	8,271	48,470	5,657
(Income) loss attributable to non-controlling interest	(24)	52	(151)	97
Income attributable to parent	20,919	8,323	48,319	5,754
Comprehensive income:
Foreign currency translation adjustments	(4,023)	(4,024)	(20,843)	(18,945)
Change in fair value derivative contracts		506	(159)	(941)
Total comprehensive income (loss)	16,920	4,753	27,468	(14,229)
Comprehensive (income) loss attributable to non-controlling interest	(24)	52	(151)	97
Total comprehensive income (loss) attributable to parent	$ 16,896	$ 4,805	$ 27,317	$ (14,132)
Basic income per share	$ 0.44	$ 0.18	$ 1.02	$ 0.12
Diluted income per share	$ 0.44	$ 0.18	$ 1.02	$ 0.12
Basic weighted average common shares outstanding	47,674,773	46,117,631	47,674,773	46,117,631
Diluted weighted average common shares outstanding	47,674,773	46,117,631	47,674,773	46,117,631
External Customers [Member]
Operating revenues:
Total operating revenues	$ 129,738	$ 102,980	$ 360,133	$ 270,676
Related Parties [Member]
Operating revenues:
Total operating revenues	$ 672	$ 329	$ 2,871	$ 1,873

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 48,470	$ 5,657
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Allowance for bad debts	1,056	1,035
Depreciation and amortization	15,605	15,421
Deferred income taxes	398	(7,612)
Equity method income	(3,170)	(789)
Deferred cost of financing	994	1,306
Other non-cash adjustments	(25)	158
Loss on debt extinguishment	2,333
Unrealized currency translation losses	4,582	24,197
Changes in operating assets and liabilities:
Trade accounts receivables	(16,961)	6,353
Inventories	(8,761)	(5,127)
Prepaid expenses	(2,004)	(686)
Other assets	(10,210)	12,455
Trade accounts payable and accrued expenses	41,337	(14,612)
Accrued interest expense	(7,172)	(4,678)
Taxes payable	11,915	(569)
Labor liabilities	1,056	5
Contract assets and liabilities	15,583	18,851
Related parties	(1,604)	(341)
CASH PROVIDED BY OPERATING ACTIVITIES	93,422	51,024
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of investments	177	470
Purchase of investments	(63)	(189)
Acquisition of property and equipment	(32,064)	(13,732)
CASH USED IN INVESTING ACTIVITIES	(31,950)	(13,451)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividend	(3,932)	(2,533)
Loss on debt extinguishment - call premium	(8,610)
Deferred financing transaction costs	(91)
Proceeds from debt	221,135	17,747
Repayments of debt	(247,024)	(30,453)
CASH USED IN FINANCING ACTIVITIES	(38,522)	(15,239)
Effect of exchange rate changes on cash and cash equivalents	(3,329)	(765)
NET INCREASE IN CASH	19,621	21,569
CASH - Beginning of period	66,899	47,862
CASH - End of period	86,520	69,431
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	14,124	18,650
Income Tax	11,982	8,318
NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt	$ 1,641	$ 919

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Legal Reserves [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total Shareholders Equity Attributable To Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 5	$ 208,283	$ 1,367	$ 16,213	$ (39,264)	$ 186,604	$ 606	$ 187,210
Beginning balance, shares at Dec. 31, 2019	46,117,631
Foreign currency translation					(19,288)	(19,288)		(19,288)
Stock dividend		107		(1,344)		(1,237)		(1,237)
Financial instruments					(4,065)	(4,065)		(4,065)
Net income				(18,766)		(18,766)	98	(18,668)
Ending balance, value at Mar. 31, 2020	$ 5	208,390	1,367	(3,897)	(62,617)	143,248	704	143,952
Ending balance, shares at Mar. 31, 2020	46,117,631
Beginning balance, value at Dec. 31, 2019	$ 5	208,283	1,367	16,213	(39,264)	186,604	606	187,210
Beginning balance, shares at Dec. 31, 2019	46,117,631
Foreign currency translation								(18,945)
Net income								5,657
Ending balance, value at Sep. 30, 2020	$ 5	208,390	2,273	17,181	(59,150)	168,699	509	169,208
Ending balance, shares at Sep. 30, 2020	46,117,631
Beginning balance, value at Mar. 31, 2020	$ 5	208,390	1,367	(3,897)	(62,617)	143,248	704	143,952
Beginning balance, shares at Mar. 31, 2020	46,117,631
Foreign currency translation					4,367	4,367		4,367
Stock dividend				(1,267)		(1,267)		(1,267)
Financial instruments					2,618	2,618		2,618
Net income				16,197		16,197	(143)	16,054
Legal Reserve			906	(906)
Ending balance, value at Jun. 30, 2020	$ 5	208,390	2,273	10,127	(55,632)	165,163	561	165,724
Ending balance, shares at Jun. 30, 2020	46,117,631
Foreign currency translation					(4,024)	(4,024)		(4,024)
Stock dividend				(1,269)		(1,269)		(1,269)
Financial instruments					506	506		506
Net income				8,323		8,323	(52)	8,271
Ending balance, value at Sep. 30, 2020	$ 5	208,390	2,273	17,181	(59,150)	168,699	509	169,208
Ending balance, shares at Sep. 30, 2020	46,117,631
Beginning balance, value at Dec. 31, 2020	$ 5	219,290	2,273	34,326	(43,512)	212,382	586	212,968
Beginning balance, shares at Dec. 31, 2020	47,674,773
Dividend				(1,311)		(1,311)		(1,311)
Derivative financial instruments					(159)	(159)		(159)
Foreign currency translation					(15,635)	(15,635)		(15,635)
Net income				8,166		8,166	86	8,252
Ending balance, value at Mar. 31, 2021	$ 5	219,290	2,273	41,181	(59,305)	203,444	672	204,116
Ending balance, shares at Mar. 31, 2021	47,674,773
Beginning balance, value at Dec. 31, 2020	$ 5	219,290	2,273	34,326	(43,512)	212,382	586	212,968
Beginning balance, shares at Dec. 31, 2020	47,674,773
Foreign currency translation								(20,843)
Net income								48,470
Ending balance, value at Sep. 30, 2021	$ 5	219,290	2,273	78,711	(64,513)	235,766	737	236,503
Ending balance, shares at Sep. 30, 2021	47,674,773
Beginning balance, value at Mar. 31, 2021	$ 5	219,290	2,273	41,181	(59,305)	203,444	672	204,116
Beginning balance, shares at Mar. 31, 2021	47,674,773
Dividend				(1,311)		(1,311)		(1,311)
Foreign currency translation					(1,185)	(1,185)		(1,185)
Net income				19,234		19,234	41	19,275
Ending balance, value at Jun. 30, 2021	$ 5	219,290	2,273	59,104	(60,490)	220,182	713	220,895
Ending balance, shares at Jun. 30, 2021	47,674,773
Dividend				(1,312)		(1,312)		(1,312)
Foreign currency translation					(4,023)	(4,023)		(4,023)
Net income				20,919		20,919	24	20,943
Ending balance, value at Sep. 30, 2021	$ 5	$ 219,290	$ 2,273	$ 78,711	$ (64,513)	$ 235,766	$ 737	$ 236,503
Ending balance, shares at Sep. 30, 2021	47,674,773

General

General	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note 1. General Business Description Tecnoglass Inc., a Cayman Islands exempted company (the “Company”, “Tecnoglass,” “TGI,” “we, “us” or “our”), manufactures high-specification, architectural glass and windows for the global residential and commercial construction industries. Currently the Company offers design, production, marketing, and installation of architectural systems for buildings of high, medium and low elevation size. Products include windows and doors in glass and aluminum, office partitions and interior divisions, floating facades and commercial window showcases. The Company exports most of its production to foreign countries, selling to customers in North, Central and South America. The Company manufactures both glass and aluminum products. Its glass products include tempered glass, laminated glass, thermo-acoustic glass, curved glass, silk-screened glass, acoustic glass and digital print glass. Its Alutions plant produces mill finished, anodized, painted aluminum profiles and rods, tubes, bars and plates. Alutions’ operations include extrusion, smelting, painting and anodizing processes, and exporting, importing and marketing aluminum products. The Company also designs, manufactures, markets and installs architectural systems for high, medium and low-rise construction, glass and aluminum windows and doors, office dividers and interiors, floating facades and commercial display windows.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The year-end condensed balance sheet data included in this Quarterly Report was derived from the audited financial statements in the Form 10-K but does not include all disclosures required by US GAAP. The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates utilized in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature. The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry. Principles of Consolidation These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”), ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, if it is determined it is not, the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control. TGI and certain wholly owned subsidiaries with functional currency different than the U.S. dollar have long-term intercompany loan balances denominated in foreign currencies that are remeasured at the current exchange rate in effect at the balance sheet date. Such loan balances are not expected to be settled in the foreseeable future. Any gains and losses relating to these loans are included in the accumulated other comprehensive income (loss), which is reflected as a separate component of stockholders’ equity. Derivative Financial Instruments The Company recognizes all derivative financial instruments as either assets or liabilities at fair value on the condensed consolidated balance sheet. The unrealized gains or losses arising from changes in fair value of derivative instruments that are designated and qualify as cash flow hedges, are recorded in the condensed consolidated statement of comprehensive income. Amounts in accumulated other comprehensive loss on the condensed consolidated balance sheet are reclassified into the condensed consolidated statement of income in the same period or periods during which the hedged transactions are settled. Recently Issued Accounting Pronouncements In June 2016, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 (with early application permitted). The FASB issued ASU 2019-10 and ASU 2019-11 during the fourth quarter of 2019 that postponed the effective date to the year beginning after December 15, 2022. In February 2020, the FASB issued ASU 2020-02 “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842), which amends SEC Staff Accounting Bulletin No. 119 (SAB119) which contains interpretative guidance from the SEC aligned to the FASB’s ASC 326. The Company is currently evaluating the potential effect of these ASUs on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. The amendments in this ASU provide optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for the Company through December 31, 2022 with early adoption permitted. The Company is currently evaluating the potential effect of this ASU on its condensed consolidated financial statements.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories, net	Note 3. - Inventories, net Schedule of Inventories September 30,2021 December 31,2020 Raw materials $ 46,643 $ 47,282 Work in process 16,228 19,345 Finished goods 6,502 4,434 Spares and accessories 9,733 8,981 Packing material 1,157 783 Total Inventories, gross 80,263 80,825 Less: Inventory allowance (121 ) (83 ) Total inventories, net $ 80,142 $ 80,742

Revenues, Contract Assets and C

Revenues, Contract Assets and Contract Liabilities	9 Months Ended
	Sep. 30, 2021
Operating revenues:
Revenues, Contract Assets and Contract Liabilities	Note 4. – Revenues, Contract Assets and Contract Liabilities Disaggregation of Total Net Sales The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows. Schedule of Disaggregation of Revenue Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Fixed price contracts $ 15,169 $ 27,307 $ 56,662 $ 73,867 Product sales 115,241 76,002 306,342 198,682 Total Revenues $ 130,410 $ 103,309 $ 363,004 $ 272,549 The following table presents geographical information about revenues. Schedule of Segment Reporting Information By Segment Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Colombia $ 5,234 $ 5,650 $ 21,065 $ 13,942 United States 123,237 95,680 333,923 253,626 Panama 227 20 1,745 850 Other 1,712 1,959 6,271 4,131 Total Revenues $ 130,410 $ 103,309 $ 363,004 $ 272,549 Contract Assets and Liabilities Contract assets represent accumulated incurred costs and earned profits on contracts with customers that have been recorded as sales, but have not been billed to customers and are classified as current. In addition, a portion of the amounts billed on certain fixed price contracts that are withheld by the customer as a retainage until a final good receipt of the complete project to the customers satisfaction. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue, and represent amounts received in excess of sales recognized on contracts. The Company classifies advance payments and billings in excess of costs incurred as current, and deferred revenue as current or non-current based on the expected timing of sales recognition. Contract assets and contract liabilities are determined on a contract-by-contract basis at the end of each reporting period. The non-current portion of contract liabilities is included in long-term liabilities in the Company’s condensed consolidated balance sheets. The table below presents the components of net contract assets (liabilities). Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Contract assets — current $ 21,927 $ 26,288 Contract assets — non-current 10,742 10,228 Contract liabilities — current (34,507 ) (24,694 ) Contract liabilities — non-current (605 ) (977 ) Net contract assets $ (2,443 ) $ 10,845 The components of contract assets are presented in the table below. Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Unbilled contract receivables, gross $ 9,711 $ 13,534 Retainage 22,958 22,982 Total contract assets 32,669 36,516 Less: current portion 21,927 26,288 Contract Assets – non-current $ 10,742 $ 10,228 The components of contract liabilities are presented in the table below. Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Billings in excess of costs $ 11,254 7,191 Advances from customers on uncompleted contracts 23,858 18,480 Total contract liabilities 35,112 25,671 Less: current portion 34,507 24,694 Contract liabilities – non-current $ 605 977 During the three and nine months ended September 30, 2021, the Company recognized $ 359 4,123 330 1,979 Remaining Performance Obligations As of September 30, 2021, the Company had $ 270.4 100 92.5 171.2

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 5. Intangible Assets Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane-resistant glass in Florida. Also, it includes the intangibles acquired during the acquisition of GM&P. Schedule of Finite Lived Intangible Assets September 30, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (898 ) $ 82 Notice of Acceptances (NOAs), product designs and other intellectual property 9,455 (6,017 ) 3,438 Non-compete Agreement 165 (151 ) 14 Customer Relationships 4,140 (3,832 ) 308 Total $ 14,740 $ (10,898 ) $ 3,842 December 31, 2020 Gross Acc. Amort. Net Trade Names $ 980 $ (751 ) $ 229 Notice of Acceptances (NOAs), product designs and other intellectual property 9,236 (5,255 ) 3,981 Non-compete Agreement 165 (126 ) 39 Customer Relationships 4,140 (3,277 ) 863 Total $ 14,521 $ (9,409 ) $ 5,112 The weighted average amortization period is 5.33 During the three and nine months ended September 30, 2021, the amortization expense amounted to $ 546 1,645 536 1,635 The estimated aggregate amortization expense for each of the five succeeding years as of September 30, 2021 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2021 $ 560 2022 1,215 2023 903 2024 590 2025 274 Thereafter 300 Total $ 3,842

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Note 6. Debt The Company’s debt is comprised of the following: Schedule of Debt September 30, 2021 December 31, 2020 Revolving lines of credit $ 230 $ 377 Finance lease 172 350 Unsecured senior notes - 210,000 Other loans 497 31 Syndicated loan 206,757 22,835 Less: Deferred cost of financing (5,269 ) (9,107 ) Total obligations under borrowing arrangements 202,387 224,486 Less: Current portion of long-term debt and other current borrowings 13,047 1,764 Long-term debt $ 189,340 $ 222,722 In October 2020, the Company entered into a $ 300 250 50 0.75 2.50 3.50 3.97 23.1 220 210 8.2 matured in 2022 11.1 8.6 2.3 Subsequent to the end of the second quarter and based on Tecnoglass’ leverage ratio as of September 30, 2021, the interest rate spread on the Company’s $300 million Senior Secured Credit Facility continues to be at the lowest part of the grid, equivalent to a spread of 2.50%. As of September 30, 2021 and December 31, 2020, all assets of the company are pledged as collateral for the $ 300 The Company was obligated under various finance leases under which the aggregate present value of the minimum lease payments amounted to $ 172 350 142 321 1 Maturities of long-term debt and other current borrowings are as follows as of September 30, 2021: Schedule of Maturities of Long Term Debt 2022 $ 13,047 2023 12,164 2024 18,234 2025 18,234 2026 145,976 Thereafter - Total $ 207,656 The Company’s loans have maturities ranging from a few weeks to 4 years. 3.25

Hedging Activity and Fair Value

Hedging Activity and Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activity and Fair Value Measurements	Note 7. Hedging Activity and Fair Value Measurements Hedging Activity During the quarter ended September 30, 2019, we entered into several foreign currency non-delivery forward and collar contracts to hedge the fluctuations in the exchange rate between the Colombian Peso and the U.S. Dollar. Our contracts are designated as cash flow hedges since they are highly effective in offsetting changes in the cash flows attributable to forecasted Colombian Peso denominated costs and expenses. Guidance under the Financial Instruments Topic 825 of the Codification requires us to record our hedge contracts at fair value and consider our credit risk for contracts in a liability position, and our counter-party’s credit risk for contracts in an asset position, in determining fair value. We assess our counter-party’s risk of non-performance when measuring the fair value of financial instruments in an asset position by evaluating their financial position, including cash on hand, as well as their credit ratings. As of September 30, 2021, the fair value of foreign currency collar contracts was not measured since we currently do not have any open contracts, with the last settlements taking place in January and February 2021. We assess the effectiveness of our foreign currency collar contracts by comparing the change in the fair value of the collar contracts to the change in the expected cash to be paid for the hedged item. The effective portion of the gain or loss on our foreign currency collar contracts is reported as a component of accumulated other comprehensive income and is reclassified into earnings in the same line item in the income statement as the hedged item in the same period or periods during which the transaction affects earnings. The amount of gains, net, recognized in the “accumulated other comprehensive income” line item in the consolidated balance sheet as of December 31, 2020, were reclassified to earnings during the first quarter of 2021 for $ 185 The fair value of our foreign currency hedges classified in the consolidated balance sheets as of December 31, 2020, are as follows: Schedule of Fair Value of Foreign Currency Hedges Derivative Assets Derivative Liabilities December 31, 2020 December 31, 2020 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments: Non-Delivery Collar Contracts Other current assets $ 230 Accrued liabilities $ ( - Total derivative instruments Total derivative assets $ 230 Total derivative liabilities $ ( - The ending accumulated balance for the foreign currency collar contracts included in accumulated other comprehensive income, net of tax, was $ 159 230 71 The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying condensed consolidated financial statements, for the three and nine months ended September 2021: Schedule of Gains (Losses) on Derivative Financial Instruments Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or (Loss) Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) OCI (Loss) into Accumulated on Derivatives Income OCI (Loss) into Income Three Months Ended Three Months Ended September 30, September 30, September 30, September 30, 2021 2020 2021 2020 Non-delivery Forwards and Collar Contracts $ - $ (635 ) Operating Revenues $ - $ (610) Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) on OCI (Loss) into Accumulated Derivatives Income OCI (Loss) into Income Nine Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2021 2020 2021 2020 Non-delivery Collar Contracts $- $ (7,242 ) Operating Revenues $ 185 $ 1,397 Fair Value Measurements The Company accounts for financial assets and liabilities in accordance with accounting standards that define fair value and establish a framework for measuring fair value. The hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and advances from customers approximate their fair value due to their relatively short-term maturities. The Company bases its fair value estimate for long term debt obligations on its internal valuation that all debt is floating rate debt based on current interest rates in Colombia. As of September 30, 2021, financial instruments carried at amortized cost that do not approximate fair value consist of long-term debt. See Note 6 - Debt. The fair value of long-term debt was calculated based on an analysis of future cash flows discounted at current market rates, which are level 2 inputs. The following table summarizes the fair value and carrying amounts of our long-term debt: Summary of Fair Value and Carrying Amounts of Long Term Debt September 30, 2021 December 31, 2020 Fair Value 190,772 238,753 Carrying Value 189,340 222,722

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company files income tax returns for TG, ES and ES Metals in the Republic of Colombia. On September, 14 2021, the Colombian Government enacted Law 2155 (the Social Investment Act), which increases the corporate income tax to 35 31 30 GM&P, Componenti and ESW LLC are U.S. entities based in Florida subject to U.S. federal and state income taxes. Tecnoglass Inc. as well as all the other subsidiaries in the Cayman Islands do not currently have any tax obligations. The components of income tax expense are as follows: Schedule of Components of Income Tax Expense (Benefit) 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Current income tax United States $ (1,260 ) $ (338 ) $ (2,753 ) $ (682 ) Colombia (7,614 ) (4,069 ) (16,961 ) (10,945 ) Total current income tax (8,874 ) (4,407 ) (19,714 ) (11,627 ) Deferred income Tax United States 113 218 192 (38 ) Colombia (87 ) 910 (590 ) 7,644 Total deferred income tax 26 1,128 (398 ) 7,606 Total income tax provision $ (8,848 ) $ (3,279 ) $ (20,112 ) $ (4,021 ) Effective tax rate 29.7 % 28.4 % 29.3 % 41.5 % The weighted average statutory income tax rate for the three months ended September 30, 2021 and 2020, and the nine months ended September 2021 approximate the statutory rate of 29 41.5

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Note 9. Related Parties The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors, and managers: Schedule of Related parties 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Sales to related parties $ 672 $ 329 $ 2,871 $ 1,873 Fees paid to directors and officers $ 1,347 $ 1,010 $ 3,814 $ 3,189 Payments to other related parties $ 1,082 $ 1,114 $ 2,959 $ 2,831 September 30, 2021 December 31, 2020 Current Assets: Due from VS $ 6,666 $ 6,387 Due from other related parties 1,731 2,187 Due from related parties, current $ 8,397 $ 8,574 Long Term due from VS - 484 Liabilities: Due to related parties - current $ 2,903 $ 4,750 Due to related parties - Non current $ 662 $ 645 Ventana Solar S.A. (“VS”), a Panama S ociedad anonima, 100 214 16 1,682 810 Payments to other related parties during the three months ended September 30, 2021 and 2020 include the following: Schedule of Payments to Other Related Parties Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Charitable contributions $ 306 $ 255 $ 887 $ 817 Sales commissions $ 368 $ 364 $ 1,016 $ 911 Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.

Shareholders_ Equity

Shareholders’ Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Shareholders’ Equity	Note 10. Shareholders’ Equity Dividends On September 1, 2021, the Company declared a regular quarterly dividend of $ 0.0275 0.11 Earnings per Share The following table sets forth the computation of the basic and diluted earnings per share for the three and nine months ended September 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Numerator for basic and diluted earnings per share Net Income $ 20,943 $ 8,271 $ 48,470 $ 5,657 Denominator Denominator for basic earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Basic earnings per ordinary share $ 0.44 $ 0.18 $ 1.02 $ 0.12 Diluted earnings per ordinary share $ 0.44 $ 0.18 $ 1.02 $ 0.12

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Commitments As of September 30, 2021, the Company had an outstanding obligation to purchase an aggregate of at least $ 1,721 On May 3, 2019, we consummated a joint venture agreement with Saint-Gobain, a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8 45 34.1 10.9 1,557,142 7.00 33 The joint venture agreement includes plans to build a new plant in Galapa, Colombia that will be located approximately 20 miles from our primary manufacturing facility, in which we will also have a 25.8 12.5 General Legal Matters From time to time, the Company is involved in legal matters arising in the regular course of business. Some disputes are derived directly from our construction projects, related to supply and installation, and even though deemed ordinary, they may involve significant monetary damages. We are also subject to other type of litigations arising from employment practices, worker’s compensation, automobile claims and general liability. It is very difficult to predict precisely what the outcome of these litigations might be. However, with the information at our disposition as this time, there are no indications that such claims will result in a material adverse effect on the business, financial condition or results of operations of the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events On November __, 2021, ES, an indirect wholly-owned subsidiary of the Company entered into a purchase agreement with, and Ventanas Solar SA (“VS”), a Panama domiciled company that acts as an importer and distributor of the Company’s products in the Republic of Panama. VS is affiliated with family members of Jose M. Daes, the Company’s Chief Executive Officer, and Christian T. Daes, the Company’s Chief Operating Officer. Pursuant to the agreement, the Company and ES will acquire approximately 95 4.0 After eliminating intercompany sales, Ventana Solar had unaudited revenues and operating income of approximately $ 2.0 0.2

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The year-end condensed balance sheet data included in this Quarterly Report was derived from the audited financial statements in the Form 10-K but does not include all disclosures required by US GAAP. The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates utilized in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature. The Company has one operating segment, Architectural Glass and Windows, which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”), ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, if it is determined it is not, the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control. TGI and certain wholly owned subsidiaries with functional currency different than the U.S. dollar have long-term intercompany loan balances denominated in foreign currencies that are remeasured at the current exchange rate in effect at the balance sheet date. Such loan balances are not expected to be settled in the foreseeable future. Any gains and losses relating to these loans are included in the accumulated other comprehensive income (loss), which is reflected as a separate component of stockholders’ equity.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivative financial instruments as either assets or liabilities at fair value on the condensed consolidated balance sheet. The unrealized gains or losses arising from changes in fair value of derivative instruments that are designated and qualify as cash flow hedges, are recorded in the condensed consolidated statement of comprehensive income. Amounts in accumulated other comprehensive loss on the condensed consolidated balance sheet are reclassified into the condensed consolidated statement of income in the same period or periods during which the hedged transactions are settled.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 (with early application permitted). The FASB issued ASU 2019-10 and ASU 2019-11 during the fourth quarter of 2019 that postponed the effective date to the year beginning after December 15, 2022. In February 2020, the FASB issued ASU 2020-02 “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842), which amends SEC Staff Accounting Bulletin No. 119 (SAB119) which contains interpretative guidance from the SEC aligned to the FASB’s ASC 326. The Company is currently evaluating the potential effect of these ASUs on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. The amendments in this ASU provide optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for the Company through December 31, 2022 with early adoption permitted. The Company is currently evaluating the potential effect of this ASU on its condensed consolidated financial statements.

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Schedule of Inventories September 30,2021 December 31,2020 Raw materials $ 46,643 $ 47,282 Work in process 16,228 19,345 Finished goods 6,502 4,434 Spares and accessories 9,733 8,981 Packing material 1,157 783 Total Inventories, gross 80,263 80,825 Less: Inventory allowance (121 ) (83 ) Total inventories, net $ 80,142 $ 80,742

Revenues, Contract Assets and_2

Revenues, Contract Assets and Contract Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Impairment Effects on Earnings Per Share [Line Items]
Schedule of Disaggregation of Revenue	Schedule of Disaggregation of Revenue Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Fixed price contracts $ 15,169 $ 27,307 $ 56,662 $ 73,867 Product sales 115,241 76,002 306,342 198,682 Total Revenues $ 130,410 $ 103,309 $ 363,004 $ 272,549
Schedule of Segment Reporting Information By Segment	The following table presents geographical information about revenues. Schedule of Segment Reporting Information By Segment Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Colombia $ 5,234 $ 5,650 $ 21,065 $ 13,942 United States 123,237 95,680 333,923 253,626 Panama 227 20 1,745 850 Other 1,712 1,959 6,271 4,131 Total Revenues $ 130,410 $ 103,309 $ 363,004 $ 272,549
Schedule of Contract With Customer Asset And Liability	The table below presents the components of net contract assets (liabilities). Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Contract assets — current $ 21,927 $ 26,288 Contract assets — non-current 10,742 10,228 Contract liabilities — current (34,507 ) (24,694 ) Contract liabilities — non-current (605 ) (977 ) Net contract assets $ (2,443 ) $ 10,845
Contract Liabilities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Schedule of Contract With Customer Asset And Liability	The components of contract liabilities are presented in the table below. Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Billings in excess of costs $ 11,254 7,191 Advances from customers on uncompleted contracts 23,858 18,480 Total contract liabilities 35,112 25,671 Less: current portion 34,507 24,694 Contract liabilities – non-current $ 605 977
Contract Assets [Member]
Impairment Effects on Earnings Per Share [Line Items]
Schedule of Contract With Customer Asset And Liability	The components of contract assets are presented in the table below. Schedule of Contract With Customer Asset And Liability September 30, 2021 December 31, 2020 Unbilled contract receivables, gross $ 9,711 $ 13,534 Retainage 22,958 22,982 Total contract assets 32,669 36,516 Less: current portion 21,927 26,288 Contract Assets – non-current $ 10,742 $ 10,228

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	Schedule of Finite Lived Intangible Assets September 30, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (898 ) $ 82 Notice of Acceptances (NOAs), product designs and other intellectual property 9,455 (6,017 ) 3,438 Non-compete Agreement 165 (151 ) 14 Customer Relationships 4,140 (3,832 ) 308 Total $ 14,740 $ (10,898 ) $ 3,842 December 31, 2020 Gross Acc. Amort. Net Trade Names $ 980 $ (751 ) $ 229 Notice of Acceptances (NOAs), product designs and other intellectual property 9,236 (5,255 ) 3,981 Non-compete Agreement 165 (126 ) 39 Customer Relationships 4,140 (3,277 ) 863 Total $ 14,521 $ (9,409 ) $ 5,112
Schedule of Finite Lived Intangible Assets Future Amortization Expense	The estimated aggregate amortization expense for each of the five succeeding years as of September 30, 2021 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2021 $ 560 2022 1,215 2023 903 2024 590 2025 274 Thereafter 300 Total $ 3,842

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt is comprised of the following: Schedule of Debt September 30, 2021 December 31, 2020 Revolving lines of credit $ 230 $ 377 Finance lease 172 350 Unsecured senior notes - 210,000 Other loans 497 31 Syndicated loan 206,757 22,835 Less: Deferred cost of financing (5,269 ) (9,107 ) Total obligations under borrowing arrangements 202,387 224,486 Less: Current portion of long-term debt and other current borrowings 13,047 1,764 Long-term debt $ 189,340 $ 222,722
Schedule of Maturities of Long Term Debt	Maturities of long-term debt and other current borrowings are as follows as of September 30, 2021: Schedule of Maturities of Long Term Debt 2022 $ 13,047 2023 12,164 2024 18,234 2025 18,234 2026 145,976 Thereafter - Total $ 207,656

Hedging Activity and Fair Val_2

Hedging Activity and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Foreign Currency Hedges	The fair value of our foreign currency hedges classified in the consolidated balance sheets as of December 31, 2020, are as follows: Schedule of Fair Value of Foreign Currency Hedges Derivative Assets Derivative Liabilities December 31, 2020 December 31, 2020 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments: Non-Delivery Collar Contracts Other current assets $ 230 Accrued liabilities $ ( - Total derivative instruments Total derivative assets $ 230 Total derivative liabilities $ ( -
Schedule of Gains (Losses) on Derivative Financial Instruments	The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying condensed consolidated financial statements, for the three and nine months ended September 2021: Schedule of Gains (Losses) on Derivative Financial Instruments Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or (Loss) Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) OCI (Loss) into Accumulated on Derivatives Income OCI (Loss) into Income Three Months Ended Three Months Ended September 30, September 30, September 30, September 30, 2021 2020 2021 2020 Non-delivery Forwards and Collar Contracts $ - $ (635 ) Operating Revenues $ - $ (610) Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) on OCI (Loss) into Accumulated Derivatives Income OCI (Loss) into Income Nine Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2021 2020 2021 2020 Non-delivery Collar Contracts $- $ (7,242 ) Operating Revenues $ 185 $ 1,397
Summary of Fair Value and Carrying Amounts of Long Term Debt	The following table summarizes the fair value and carrying amounts of our long-term debt: Summary of Fair Value and Carrying Amounts of Long Term Debt September 30, 2021 December 31, 2020 Fair Value 190,772 238,753 Carrying Value 189,340 222,722

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense are as follows: Schedule of Components of Income Tax Expense (Benefit) 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Current income tax United States $ (1,260 ) $ (338 ) $ (2,753 ) $ (682 ) Colombia (7,614 ) (4,069 ) (16,961 ) (10,945 ) Total current income tax (8,874 ) (4,407 ) (19,714 ) (11,627 ) Deferred income Tax United States 113 218 192 (38 ) Colombia (87 ) 910 (590 ) 7,644 Total deferred income tax 26 1,128 (398 ) 7,606 Total income tax provision $ (8,848 ) $ (3,279 ) $ (20,112 ) $ (4,021 ) Effective tax rate 29.7 % 28.4 % 29.3 % 41.5 %

Related Parties (Tables)

Related Parties (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Schedule of Related parties	The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors, and managers: Schedule of Related parties 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Sales to related parties $ 672 $ 329 $ 2,871 $ 1,873 Fees paid to directors and officers $ 1,347 $ 1,010 $ 3,814 $ 3,189 Payments to other related parties $ 1,082 $ 1,114 $ 2,959 $ 2,831 September 30, 2021 December 31, 2020 Current Assets: Due from VS $ 6,666 $ 6,387 Due from other related parties 1,731 2,187 Due from related parties, current $ 8,397 $ 8,574 Long Term due from VS - 484 Liabilities: Due to related parties - current $ 2,903 $ 4,750 Due to related parties - Non current $ 662 $ 645
Schedule of Payments to Other Related Parties	Payments to other related parties during the three months ended September 30, 2021 and 2020 include the following: Schedule of Payments to Other Related Parties Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Charitable contributions $ 306 $ 255 $ 887 $ 817 Sales commissions $ 368 $ 364 $ 1,016 $ 911

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the basic and diluted earnings per share for the three and nine months ended September 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three months ended Nine months ended September 30, September 30, 2021 2020 2021 2020 Numerator for basic and diluted earnings per share Net Income $ 20,943 $ 8,271 $ 48,470 $ 5,657 Denominator Denominator for basic earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Basic earnings per ordinary share $ 0.44 $ 0.18 $ 1.02 $ 0.12 Diluted earnings per ordinary share $ 0.44 $ 0.18 $ 1.02 $ 0.12

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 46,643	$ 47,282
Work in process	16,228	19,345
Finished goods	6,502	4,434
Spares and accessories	9,733	8,981
Packing material	1,157	783
Total Inventories, gross	80,263	80,825
Less: Inventory allowance	(121)	(83)
Total inventories, net	$ 80,142	$ 80,742

Schedule of Disaggregation of R

Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenues	$ 130,410	$ 103,309	$ 363,004	$ 272,549
Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	15,169	27,307	56,662	73,867
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 115,241	$ 76,002	$ 306,342	$ 198,682

Schedule of Segment Reporting I

Schedule of Segment Reporting Information By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenues	$ 130,410	$ 103,309	$ 363,004	$ 272,549
COLOMBIA
Disaggregation of Revenue [Line Items]
Total Revenues	5,234	5,650	21,065	13,942
UNITED STATES
Disaggregation of Revenue [Line Items]
Total Revenues	123,237	95,680	333,923	253,626
PANAMA
Disaggregation of Revenue [Line Items]
Total Revenues	227	20	1,745	850
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 1,712	$ 1,959	$ 6,271	$ 4,131

Schedule of Contract With Custo

Schedule of Contract With Customer Asset And Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Operating revenues:
Less: current portion	$ 21,927	$ 26,288
Contract Assets – non-current	10,742	10,228
Less: current portion	(34,507)	(24,694)
Contract liabilities — non-current	(605)	(977)
Net contract assets	(2,443)	10,845
Unbilled contract receivables, gross	9,711	13,534
Retainage	22,958	22,982
Total contract assets	32,669	36,516
Billings in excess of costs	11,254	7,191
Advances from customers on uncompleted contracts	23,858	18,480
Total contract liabilities	35,112	25,671
Contract liabilities – non-current	$ 605	$ 977

Revenues, Contract Assets and_3

Revenues, Contract Assets and Contract Liabilities (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Contract with customer, liability, revenue recognized	$ 359	$ 330	$ 4,123	$ 1,979
Revenue, Remaining Performance Obligation, Amount	$ 270,400		$ 270,400
Revenue, Remaining Performance Obligation, Percentage	100.00%		100.00%
December 31, 2021 [Member]
Expected performance obligations revenue to be recognized	$ 92,500		$ 92,500
December 31, 2022 [Member]
Expected performance obligations revenue to be recognized	$ 171,200		$ 171,200

Schedule of Finite Lived Intang

Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 14,740	$ 14,521
Accumulated Amortization	(10,898)	(9,409)
Total	3,842	5,112
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	980	980
Accumulated Amortization	(898)	(751)
Total	82	229
Notice of Acceptances [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	9,455	9,236
Accumulated Amortization	(6,017)	(5,255)
Total	3,438	3,981
Non-compete Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	165	165
Accumulated Amortization	(151)	(126)
Total	14	39
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	4,140	4,140
Accumulated Amortization	(3,832)	(3,277)
Total	$ 308	$ 863

Schedule of Finite Lived Inta_2

Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 560
2022	1,215
2023	903
2024	590
2025	274
Thereafter	300
Total	$ 3,842

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period			5 years 3 months 29 days
Amortization expense	$ 546	$ 536	$ 1,645	$ 1,635

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Revolving lines of credit	$ 230	$ 377
Finance lease	172	350
Unsecured senior notes		210,000
Other loans	497	31
Syndicated loan	206,757	22,835
Less: Deferred cost of financing	(5,269)	(9,107)
Total obligations under borrowing arrangements	202,387	224,486
Less: Current portion of long-term debt and other current borrowings	13,047	1,764
Long-term debt	$ 189,340	$ 222,722

Schedule of Maturities of Long

Schedule of Maturities of Long Term Debt (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 13,047
2023	12,164
2024	18,234
2025	18,234
2026	145,976
Thereafter
Total	$ 207,656

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Thousands	1 Months Ended			9 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Oct. 30, 2020	Sep. 30, 2021
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			3.97%
Proceeds from Long-term Lines of Credit	$ 220,000	$ 23,100
Loan maturity period				The Company’s loans have maturities ranging from a few weeks to 4 years.
Noncash expenses	$ 2,300
Line of Credit Facility, Description				Subsequent to the end of the second quarter and based on Tecnoglass’ leverage ratio as of September 30, 2021, the interest rate spread on the Company’s $300 million Senior Secured Credit Facility continues to be at the lowest part of the grid, equivalent to a spread of 2.50%.
Collateral amount		300,000		$ 300,000
Present value of minimum lease payments		350		172
Right-of-use assets		$ 321		$ 142
Weighted average remaining lease term				1 year
Debt, weighted average interest rate				3.25%
UnSecured Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.20%
Debt Instrument, Face Amount	$ 210,000
Loan maturity period	matured in 2022
Debt extinguishment cost	$ 11,100
Debt extinguishment of call premium	$ 8,600
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			0.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.50%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.50%
Draw Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 250,000
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			300,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 50,000

Schedule of Fair Value of Forei

Schedule of Fair Value of Foreign Currency Hedges (Details) - Non-Delivery Collar Contracts [Member] $ in Thousands	Dec. 31, 2020USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	$ 230
Total derivative liabilities	0
Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	230
Accrued Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative liabilities	$ 0

Schedule of Gains (Losses) on D

Schedule of Gains (Losses) on Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (Loss) Reclassified from Accumulated OCI (Loss) into Income		$ (610)	$ 185	$ 1,397
Non-Delivery Collar Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives		$ (635)		$ (7,242)

Summary of Fair Value and Carry

Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value	$ 190,772	$ 238,753
Carrying Value	$ 189,340	$ 222,722

Hedging Activity and Fair Val_3

Hedging Activity and Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2021	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Accumulated other comprehensive income net of tax	$ (43,512)	$ (64,513)
Derivatives used in net investment hedge, tax (benefit)	71
Collar Contracts [Member]
Derivatives, Fair Value [Line Items]
Accumulated other comprehensive income net of tax	159
Foreign currency fair value hedge asset at fair value	$ 230
Accumulated Other Comprehensive Loss [Member]
Derivatives, Fair Value [Line Items]
Reclassified earnings, expected			$ 185

Schedule of Components of Incom

Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
United States	$ (1,260)	$ (338)	$ (2,753)	$ (682)
Colombia	(7,614)	(4,069)	(16,961)	(10,945)
Total current income tax	(8,874)	(4,407)	(19,714)	(11,627)
United States	113	218	192	(38)
Colombia	(87)	910	(590)	7,644
Total deferred income tax	26	1,128	(398)	7,606
Total income tax provision	$ (8,848)	$ (3,279)	$ (20,112)	$ (4,021)
Effective tax rate	29.70%	28.40%	29.30%	41.50%

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	Sep. 14, 2021	Sep. 30, 2021	Sep. 30, 2020
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate reconciliation, statutory rate	31.00%		41.50%
Weighted average statutory income tax rate		29.00%
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax percentage	35.00%
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax percentage	30.00%

Schedule of Related parties (De

Schedule of Related parties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transactions [Abstract]
Sales to related parties	$ 672	$ 329	$ 2,871	$ 1,873
Fees paid to directors and officers	1,347	1,010	3,814	3,189
Payments to other related parties	1,082	$ 1,114	2,959	$ 2,831
Due from VS	6,666		6,666		$ 6,387
Due from other related parties	1,731		1,731		2,187
Due from related parties, current	8,397		8,397		8,574
Long Term due from VS					484
Due to related parties - current	2,903		2,903		4,750
Due to related parties - Non current	$ 662		$ 662		$ 645

Schedule of Payments to Other R

Schedule of Payments to Other Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transaction [Line Items]
Payment to other related parties	$ 1,082	$ 1,114	$ 2,959	$ 2,831
Charitable Contributions [Member]
Related Party Transaction [Line Items]
Payment to other related parties	306	255	887	817
Sales Commissions [Member]
Related Party Transaction [Line Items]
Payment to other related parties	$ 368	$ 364	$ 1,016	$ 911

Related Parties (Details Narrat

Related Parties (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transaction [Line Items]
Sales revenue from related party	$ 672	$ 329	$ 2,871	$ 1,873
Ventanas Solar SA [Member]
Related Party Transaction [Line Items]
Sales revenue from related party	$ 214	$ 16	$ 1,682	$ 810
CEO, COO and Other Related Parties [Member]
Related Party Transaction [Line Items]
Equity percentage	100.00%		100.00%

Schedule of Earnings Per Share,

Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Net Income	$ 20,943	$ 19,275	$ 8,252	$ 8,271	$ 16,054	$ (18,668)	$ 48,470	$ 5,657
Denominator for basic earnings per ordinary share - weighted average shares outstanding	47,674,773			46,117,631			47,674,773	46,117,631
Effect of dilutive securities and stock dividend
Denominator for diluted earnings per ordinary share - weighted average shares outstanding	47,674,773			46,117,631			47,674,773	46,117,631
Basic earnings per ordinary share	$ 0.44			$ 0.18			$ 1.02	$ 0.12
Diluted earnings per ordinary share	$ 0.44			$ 0.18			$ 1.02	$ 0.12

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative)	Sep. 01, 2021$ / shares
Quarterly Rate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends Payable, Amount Per Share	$ 0.0275
Annual Basis [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends Payable, Amount Per Share	$ 0.11

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Oct. 28, 2020	Oct. 27, 2020	May 03, 2019	Sep. 30, 2021	Dec. 31, 2020
Purchase of aggregate raw material				$ 1,721
Issuance of ordinary per shares				$ 0.0001	$ 0.0001
Additional contribution paid				$ 12,500
Saint-Gobain Joint Venture Agreement [Member] | Common Stock [Member]
Issuance of ordinary shares	1,557,142
Issuance of ordinary per shares	$ 7
Premium percentage		33.00%
Saint-Gobain Joint Venture Agreement [Member] | Vidrio Andino Holdings S.A.S [Member]
Minority ownership interest			25.80%
Purchase price for acquiring minority interest			$ 45,000
Cash consideration paid for acquisition of minority interest			34,100
Saint-Gobain Joint Venture Agreement [Member] | Vidrio Andino Holdings S.A.S [Member] | Land [Member]
Recorded current liabilities in relation to acquisition			$ 10,900
Joint Venture Agreement [Member]
Ownership percentage				25.80%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Nov. 08, 2021
Subsequent Event [Line Items]
Revenues	$ 130,410	$ 103,309	$ 363,004	$ 272,549
Operating income	$ 30,154	$ 20,206	83,944	$ 48,580
Ventanas Solar SA [Member]
Subsequent Event [Line Items]
Revenues			2,000
Operating income			$ 200
Ventanas Solar SA [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Equity method investment, ownership percentage					95.00%
Contractual amount					$ 4,000