Tigo Energy Reports First Quarter 2025 Financial Results

CAMPBELL, Calif.--(BUSINESS WIRE)--May 06, 2025-- 

Tigo Energy, Inc. ("Tigo", or the "Company") $(TYGO)$, a leading provider of intelligent solar and energy storage solutions, today reported unaudited financial results for the first quarter ended March 31, 2025, financial guidance for the second quarter ending June 30, 2025 and a full year 2025 outlook.

Recent Financial and Operational Highlights

   -- Revenue for the first quarter of 2025 of $18.8 million, up 92.2% compared 
      to the first quarter of 2024. 
 
   -- Net loss for the first quarter of 2025 of $7.0 million, compared to a net 
      loss of $11.5 million in the first quarter of 2024. 
 
   -- Adjusted EBITDA loss for the first quarter of 2025 of $2.0 million 
      compared to an Adjusted EBITDA loss of $6.3 million in the first quarter 
      of 2024. 
 
   -- Cash, cash equivalents, and marketable securities of $20.3 million at 
      March 31, 2025, a sequential increase of $0.4 million from the fourth 
      quarter of 2024. 
 
   -- During the first quarter of 2025, we shipped 502,000, or 351 MW, of MLPE. 
 
   -- Introduced an evolution of the TS4-A family (725W 22 amp), serving higher 
      wattage modules and bringing Multi-Factor Rapid Shutdown capability to 
      the MLPE product line. 

Management Commentary

"We are pleased to report our fifth sequential increase in quarterly revenues and a 92% revenue increase on a year over year basis," said Zvi Alon, Chairman and CEO of Tigo. "These results reflect both an expansion of our market share and an ongoing recovery in the solar market."

"During the quarter, we saw increased sequential growth in the EMEA, Americas and APAC regions, which comprised 61%, 25% and 14% of total revenues, respectively. We expect that our geographical and manufacturing diversification will mitigate a significant portion of the current tariff headwinds in the industry."

"For the first quarter, we increased our cash by $0.4 million to $20.3 million as we lowered our operating costs and further reduced our inventory," stated Bill Roeschlein, Chief Financial Officer of Tigo. "As a result of our continued improvement in financial performance, our second quarter guidance incorporates positive adjusted EBITDA at the higher end of the guided range."

First Quarter 2025 Financial Results

Results compare the 2025 fiscal first quarter ended March 31, 2025 to the 2024 fiscal first quarter ended March 31, 2024, unless otherwise indicated.

   -- Revenues totaled $18.8 million, a 92.2% increase from $9.8 million. On a 
      sequential quarter basis, revenues increased by 9.1% compared to the 
      fourth quarter of 2024. 
 
   -- Gross profit totaled $7.2 million, or 38.1% of net revenue, compared to 
      gross profit of $2.8 million, or 28.2% of net revenue. 
 
   -- Operating expenses totaled $11.2 million, a 5.9% decrease from $11.9 
      million. 
 
   -- Net loss totaled $7.0 million, a 39.3% decrease compared to a net loss of 
      $11.5 million. 
 
   -- Adjusted EBITDA loss totaled $2.0 million, compared to an adjusted EBITDA 
      loss of $6.3 million. 

Second Quarter 2025 Financial Guidance and Full Year 2025 Outlook

The Company provides guidance for the second quarter ending June 30, 2025 as follows:

   -- Revenues are expected to be within the range of $21 million to $23 
      million. 
 
   -- Adjusted EBITDA is expected to be within the range of $(1.5) million to 
      $0.5 million. 

For the full year 2025, the Company continues to anticipate revenues to be between $85 million and $100 million.

Actual results may differ materially from the Company's guidance as a result of, among other things, the factors described below under "Forward-Looking Statements."

Conference Call

Tigo management will hold a conference call today, May 6, 2025, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss these results. Company CEO Zvi Alon and CFO Bill Roeschlein will host the call, followed by a question-and-answer period.

Registration Link Conference Call: Click here to register

Webcast Link: Click here to join

Please register online at least 10 minutes prior to the start time. If you have any difficulty with registration or connecting to the conference call, please contact Gateway Group at (949) 574-3860.

The conference call will also be available for replay here and via the Investor Relations section of Tigo's website.

Upcoming Investor Conference Attendance

Aegis Capital Corp. Virtual Conference 2025

Date: Tuesday, May 20, 2025

Location: Virtual

Event Details: CFO Bill Roeschlein is scheduled to present at 2:30 p.m. ET on Tuesday, May 20.

Sidoti May 2025 Conference

Date: Wednesday and Thursday, May 21-22, 2025

Location: Virtual

Event Details: CFO Bill Roeschlein is scheduled to present at 12:15 p.m. ET on Wednesday, May 21, and will be available for 1-on-1 meetings throughout the conference.

Presentation Webcast Link: Here

About Tigo Energy, Inc.

Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The Company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our ability to increase our revenues and become profitable, our overall long-term growth prospects, expectations regarding a recovery in our industry, including the timing thereof, current and future inventory levels, charges and reserves and their impact on future financial results, inventory supply and its impact on our customer shipments, statements about our revenue and adjusted EBITDA for the second fiscal quarter 2025 and our revenue for the full fiscal year 2025, statements about demand for our products, our competitive position, the impact of tariffs, and our ability to penetrate new markets and expand our market share, including expansion in international markets, our continued expansion of and investments in our product portfolio, and future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "will allow us to" "is anticipated," "estimated," "expected", "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. These forward-looking statements are based upon the current beliefs and expectations of Tigo's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

In addition to factors previously disclosed, or that will be disclosed in, our reports filed with the SEC, factors which may cause actual results to differ materially from current expectations include, but are not limited to, our capital requirements and our ability to meet our future liquidity requirements and continue as a going concern; our indebtedness and liabilities and our ability to pay amounts when due under our existing indebtedness; our failure to satisfy certain listing requirements of Nasdaq which may result in our common stock being delisted from Nasdaq; our ability to effectively develop and sell our product offerings and services, our ability to compete in the highly-competitive and evolving solar industry; our ability to manage risks associated with U.S. and global geopolitical and macroeconomic conditions including the potential softening of the economy, seasonal trends and the cyclical nature of the solar industry, including the current prolonged downturn; whether we continue to grow our customer base; whether we continue to develop new products and innovations to meet constantly evolving customer demands; the timing and level of demand for our solar energy solutions; changes in government subsidies and economic incentives, including tax incentives, for solar energy solutions; trade tariffs and other trade barriers that could directly affect us, our customers and the solar industry; our ability to forecast our customer demand and manufacturing requirements, and manage our inventory; our ability to acquire or make investments in other businesses, patents, technologies, products or services to grow the business and realize the anticipated benefits therefrom; our ability to respond to fluctuations in foreign currency exchange rates and political unrest and regulatory changes in the U.S. and international markets into which we expand or otherwise operate in; our failure to attract, hire retain and train highly qualified personnel in the future; and if we are unable to maintain key strategic relationships with our partners and distributors.

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