Tigo Energy, Inc.

Tigo Energy, Inc. (TYGO) reported strong FY 2025 results with net revenue of $103.5 million, a 91.7% increase from $54.0 million in 2024, driven by robust demand in EMEA ($69.5 million, +113% YoY) and Americas ($26.5 million, +102% YoY), partially offset by APAC decline. Gross profit improved dramatically to $44.4 million (42.8% margin) from a $4.2 million loss (-7.7% margin), reflecting better cost management and higher volumes amid inventory write-downs of $1.5 million. Operating loss narrowed to $4.5 million from $52.0 million, aided by controlled operating expenses at $48.9 million. A $14.6 million gain on sale of intangible assets offset $11.0 million interest expense and $1.1 million loss on extinguishment of $50.2 million Convertible Promissory Note, resulting in net loss of $1.9 million ($0.03 per share) versus $62.7 million ($1.04 per share) prior year. Operating cash flow turned positive at $10.3 million from -$12.4 million, boosted by $20.9 million accounts payable increase and working capital improvements. Balance sheet strengthened with total assets $78.0 million, no long-term debt, stockholders' equity $27.6 million up from $8.4 million. Cash ended at $7.7 million; post-period $15.0 million direct offering enhances liquidity for growth in solar optimization solutions.

Key Takeaways