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TYGO

Tigo Energy, Inc.

TYGO

Tigo Energy, Inc. • NASDAQ
$1.90 ▲ 7.34% (+0.13)
Market Cap $118.87 M
52w High $4.50
52w Low $0.58
Dividend Yield 0%
P/E -2.88
Volume 276.98K
Outstanding Shares 62.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $30.613M ▲ $12.412M ▲ $-2.166M ▲ -7.075% ▲ $-0.033 ▲ $1.226M ▲
Q2-2025 $24.055M ▲ $12.267M ▲ $-4.43M ▲ -18.416% ▲ $-0.071 ▲ $-1.119M ▲
Q1-2025 $18.839M ▲ $11.15M ▼ $-7.001M ▲ -37.162% ▲ $-0.11 ▲ $-3.477M ▲
Q4-2024 $17.274M ▲ $11.526M ▼ $-26.802M ▼ -155.158% ▼ $-0.44 ▼ $-23.542M ▼
Q3-2024 $14.237M $12.191M $-13.117M -92.133% $-0.22 $-9.951M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $40.284M ▲ $107.839M ▲ $95.784M ▲ $12.055M ▲
Q2-2025 $28.016M ▲ $80.645M ▲ $78.953M ▲ $1.692M ▼
Q1-2025 $20.278M ▲ $70.639M ▼ $66.864M ▲ $3.775M ▼
Q4-2024 $19.902M ▲ $72.911M ▼ $64.526M ▼ $8.385M ▼
Q3-2024 $19.504M $98.571M $65.102M $33.469M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.166M ▲ $1.432M ▼ $2.209M ▲ $10.615M ▲ $14.256M ▲ $1.478M ▼
Q2-2025 $-4.43M ▲ $7.772M ▲ $-6.111M ▼ $50K ▼ $1.711M ▲ $7.529M ▲
Q1-2025 $-7.001M ▲ $-530K ▼ $-3.532M ▼ $817K ▲ $-3.245M ▼ $-530K ▼
Q4-2024 $-26.802M ▼ $1.053M ▲ $1.451M ▲ $-219K ▼ $2.285M ▲ $524K ▲
Q3-2024 $-13.117M $-535K $-5.045M $-102K $-5.682M $-874K

Five-Year Company Overview

Income Statement

Income Statement Tigo’s revenue has grown over the past few years but remains relatively small and has recently pulled back from its peak. The company has been able to generate a positive gross margin, meaning its products sell for more than they cost to make, but overhead and growth spending are high enough that operating results are consistently in the red. Profitability has been uneven, with years close to breakeven followed by a notably larger loss most recently. Overall, this looks like an early-stage, still-scaling business where growth investments and market volatility are weighing on earnings.

Balance Sheet

Balance Sheet The balance sheet is modest in size and somewhat fragile. Tigo carries a meaningful amount of debt for a company of its scale, while its equity base has swung from negative to positive and then shrunk again, which suggests a thin capital cushion. Cash levels have fluctuated and are not especially large relative to the company’s needs. This structure can work in a growth phase, but it leaves less room to absorb prolonged losses or shocks without additional financing or balance sheet repair.

Cash Flow

Cash Flow Cash flow from the core business has been negative in most recent years, and outflows have increased as the company has tried to grow. Capital spending on equipment and facilities appears light, so the main source of cash burn is operating losses, not heavy investment in physical assets. Free cash flow has therefore been consistently negative, implying ongoing reliance on outside capital or balance sheet resources to fund operations and expansion until the business can turn sustainably cash-flow positive.

Competitive Edge

Competitive Edge Tigo holds a differentiated position in the solar market through its focus on module-level power electronics and its flexible, “selective deployment” approach. Its technology can work with many different inverter brands, which is attractive to installers who dislike closed ecosystems. A sizable patent portfolio around rapid shutdown and MLPE, a growing network of inverter partners, and strong installer relationships all help create a meaningful, though not unassailable, moat. That said, the company operates in a highly competitive space with larger, well-funded rivals, and its relatively small scale and ongoing losses limit its ability to outspend competitors if the market tightens.

Innovation and R&D

Innovation and R&D Innovation is a clear strength. The Flex MLPE and TS4 platform, combined with the Energy Intelligence software, give Tigo a smart, modular solution that can be tailored panel by panel. The firm is also moving into integrated residential offerings, including inverters, storage (GO Battery), and broader energy management, and is targeting the repowering market for older solar systems. Its open-architecture approach and shift toward U.S. manufacturing suggest an R&D and operations strategy aimed at flexibility, compatibility, and supply chain resilience. Future value will depend on how well Tigo turns these innovations into scalable, profitable product lines and recurring software and services revenue.

Summary

Tigo Energy is an innovative, niche solar technology company with a strong focus on flexible module-level power electronics and intelligent software. Strategically, it has attractive features: meaningful intellectual property, broad compatibility with other manufacturers, and an expanding product suite that includes energy storage and whole-home solutions. Financially, however, it is still in a building phase, with small but volatile revenue, persistent operating losses, negative cash flow, and a relatively thin balance sheet. The key tension is straightforward: substantial technological and strategic promise on one side, and execution risk plus financial fragility on the other. How well Tigo can grow revenue, stabilize margins, and move toward sustainable positive cash flow will largely determine its long-term standing in the solar ecosystem.

NEWS

November 6, 2025 · 9:00 AM UTC

Tigo Energy Modernizes Installer Experience with All-Digital Installation Resources

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October 28, 2025 · 4:05 PM UTC

Tigo Energy Reports Third Quarter 2025 Financial Results

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October 15, 2025 · 1:00 AM UTC

Tigo Energy Kicks off UK Installer ESS Training Tour, Doubling Down on Optimizer Success

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October 14, 2025 · 4:05 PM UTC

Tigo Energy Inc. to Report Third Quarter 2025 Financial Results on Tuesday, October 28, 2025 at 4:30 p.m. ET

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October 9, 2025 · 4:05 PM UTC

Tigo Energy to Participate in Multitude of Investor Conferences During the Fourth Quarter 2025

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