TIGO ENERGY, INC.

Listed Company

TYGOCIK 0001855447NasdaqEmerging GrowthSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$103.54M

Net Income

$-1.88M

Total Assets

$78.04M

Equity

$27.62M

Shares Out

75.60M

Op. Cash Flow

$10.30M

Business

TIGO ENERGY, INC. develops and delivers smart hardware and software system solutions that enhance safety, increase energy yield, and lower operating costs for residential, commercial, and utility-scale solar installations. Its primary offerings include module-level power electronics (MLPE) optimizers, the GO Energy Storage Solutions (GO ESS) suite (batteries, inverters, ATS, EV charger) and the Energy Intelligence (EI) software platform including Predict+ forecasting services. The company’s operations are organized around its MLPE product line, GO ESS residential storage products, and cloud-based EI monitoring and premium SaaS services. It sells globally across Asia, the Americas and EMEA primarily through distributors and solar installers, with selective direct sales and inverter partner integrations.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	104	54	145	81	—
Cost of revenue	59	58	94	57	—
Gross profit (loss)	44	−4	51	25	—
Research and development	9	10	9	6	—
Sales and marketing	17	17	21	11	—
General and administrative	22	21	29	9	—
Total operating expenses	49	48	60	26	—
Loss from operations	−4	−52	−8	−896,000	−415,858
Change in fair value of contingent shares liability	—	−152,000	—	—	—
Gain on sale of intangible assets	−15	—	—	—	—
Loss on extinguishment of Convertible Promissory Note	−1	—	171,000	4	—
Interest expense	11	11	8	—	—
Interest income	−919,000	−867,000	−2	−199,000	13,316
Other expense, net	192,000	245,000	−37,000	142,000	—
Total other (income) expenses, net	−3	11	−7	6	13,316
Loss before income tax expense	−1	−63	−846,000	−7	−402,542
Income tax expense	603,000	103,000	138,000	71,000	—
Net loss	−2	−63	−984,000	−7	−402,542
Unrealized (loss) gain resulting from change in fair value of marketable securities	−2,000	61,000	−59,000	—	—
Total comprehensive loss	−2	−63	−1	−7	—
Basic (per share)	−0.03	−1.04	−0.08	−2.71	—
Diluted (per share)	−0.03	−1.04	−0.14	−2.71	—
Basic (shares)	65	60	38	5	—
Diluted (shares)	65	60	43	5	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	8	12	4	36	802,606
Marketable securities, short-term	—	8	27	—	—
Accounts receivable, net of allowance for credit losses of $356 and $2,239 at December 31, 2025, and December 31, 2024, respectively	14	8	7	16	—
Inventory	31	22	61	25	—
Prepaid expenses and other current assets	5	4	5	4	—
Total current assets	58	53	105	85	991,223
Property and equipment, net	3	3	3	2	—
Operating lease right of use assets	2	2	3	1	—
Intangible assets, net	2	2	2	0	—
Other assets	1	984,000	728,000	82,000	102,849
Goodwill	12	12	12	—	—
Total assets	78	73	128	88	118
Accounts payable	29	8	16	23	—
Accrued expenses and other current liabilities	7	7	9	4	—
Deferred revenue, current portion	961,000	525,000	335,000	950,000	—
Warranty liability, current portion	626,000	496,000	526,000	392,000	—
Operating lease liabilities, current portion	856,000	649,000	1	578,000	—
Total current liabilities	39	17	26	40	—
Warranty liability, net of current portion	9	5	5	4	—
Deferred revenue, net of current portion	860,000	644,000	466,000	172,000	—
Long-term debt, net of unamortized debt discount and issuance costs	0	41	32	11	—
Operating lease liabilities, net of current portion	2	961,000	1	762,000	—
Other long-term liabilities	251,000	—	—	—	—
Total liabilities	50	65	65	57	244,793
Commitments and Contingencies (Note 8)	—	—	—	—	—
Common stock, $0.0001 par value: 150,000,000 shares authorized; 70,424,566 and 60,800,130 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively	7,000	6,000	6,000	1,000	334
Additional paid-in capital	168	147	139	7	1
Accumulated deficit	−140	−139	−76	−62	−405,732
Accumulated other comprehensive income	—	2,000	−59,000	—	—
Total stockholders' equity	28	8	63	−56	−50
Total liabilities and stockholders' equity	78	73	128	88	118

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	1	1	562,000	—
Provision to write down inventories to net realizable value	1	23	713,000	123,000	—
Change in fair value of contingent shares liability	—	−152,000	−1	1	—
Non-cash interest expense	9	9	5	256,000	—
Stock-based compensation	8	8	4	813,000	—
Change in allowance for credit losses	−17,000	−2	4	596,000	—
Non-cash lease expense	906,000	1	996,000	535,000	—
Accretion of interest on marketable securities	−467,000	−354,000	−508,000	—	—
Loss on disposal of property and equipment	12,000	—	17,000	—	—
Accounts receivable	−6	570,000	5	−13	—
Inventory	−11	16	−37	−15	—
Prepaid expenses and other assets	−2	2	−1	−2	—
Accounts payable	21	−7	−9	11	—
Accrued expenses and other liabilities	−232,000	−793,000	3	952,000	—
Deferred revenue	652,000	368,000	−321,000	673,000	—
Warranty liability	4	166,000	1	958,000	—
Operating lease liabilities	−605,000	−1	−1	−447,000	—
Other long-term liabilities	251,000	—	—	—	—
Net cash provided by (used in) operating activities	10	−12	−37	−16	−463,981
Purchase of marketable securities	−31	−11	−53	—	—
Purchase of property and equipment	−642,000	−1	−2	−1	—
Sales and maturities of marketable securities	40	32	25	—	—
Proceeds from sale of intangible assets	15	—	—	—	—
Net cash provided by investing activities	23	20	−31	−2	−117
Proceeds from exercise of stock options	157,000	272,000	215,000	325,000	—
Proceeds from at-the-market offering	13	16,000	—	—	—
Payment of offering costs related to at-the-market offering	—	−227,000	—	—	−496,204
Payment of tax withholdings on restricted stock awards	−367,000	−122,000	−91,000	—	—
Repayment of Convertible Note	−50	—	—	—	—
Net cash used in financing activities	−37	−61,000	35	48	118
Net (decrease) increase in cash	−4	7	−33	30	779,815
Cash paid for interest	4	3	1	1	—
Cash paid for income taxes, net	263,000	575,000	—	—	—
Operating lease right of use assets obtained in exchange for operating lease liabilities	2	195,000	2	2	—
Property and equipment in accounts payable	206,000	—	693,000	135,000	—
Non-cash consideration paid for fSight acquisition	—	375,000	11	—	—
Unrealized gain resulting from change in fair value of marketable securities	−2,000	61,000	−59,000	—	—

Filings

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