TIGO ENERGY, INC. TYGO
Our mission is to deliver smart system solutions, combining hardware and software, which enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. We believe we are a worldwide leader in the development and delivery of products and solutions that are flexible and dependable, increasing the energy generation of solar energy systems.
We have served the solar energy industry with advanced power electronics, including the manufacturing and development of our Module Level Power Electronics ("MLPEs"), since our inception in 2007. Our primary focus has been on MLPEs, which are devices that reside under the solar panel that increase energy production, enhance safety, and lower operating costs for the system owner. Our MLPEs are designed to be highly flexible solutions that work with other inverters and modules, providing the installer with an open-system solution and a variety of choices when designing a system for the consumer.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $103.54B | $54.01B | $145.23B | $81.32B | — | — | — |
| Cost of revenue | $59.2M | $58.2M | $93.9M | $56.6M | — | — | — |
| Gross profit | $44.4M | -$4.2M | $51.3M | $24.8M | — | — | — |
| R&D | $9.2M | $9.9M | $9.5M | $5.7M | — | — | — |
| SG&A | $22.2M | $21.1M | $28.8M | $9.0M | — | — | — |
| Total operating expenses | $48.9M | $47.8M | $59.6M | $25.7M | — | — | — |
| Operating income | -$4.5M | -$52.0M | -$8.3M | -$896.0K | -$415.9K | -$2.0K | — |
| Interest expense | $11.0M | $11.4M | $8.1M | $1.5M | — | — | — |
| Pre-tax income | -$1.3M | -$62.6M | -$846.0K | -$7.0M | -$402.5K | — | — |
| Income tax | $603.0K | $103.0K | $138.0K | $71.0K | — | — | — |
| Net income | -$1.9M | -$62.7M | -$984.0K | -$7.0M | -$402.5K | -$2.0K | — |
| EPS, basic | -0.03 | -1.04 | -0.08 | -2.71 | — | — | — |
| EPS, diluted | -0.03 | -1.04 | -0.14 | -2.71 | — | — | — |
| Shares, diluted (wtd. avg.) | 65.0M | 60.3M | 43.2M | 4.9M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.7M | $11.7M | $4.4M | $37.7M | $7.5M | $22.8K | $25.0K |
| Short-term investments | — | $8.2M | $26.8M | — | — | — | — |
| Receivables | $13.9M | $8.0M | $6.9M | $15.8M | — | — | — |
| Inventory | $31.3M | $22.0M | $61.4M | $24.9M | — | — | — |
| Total current assets | $58.0M | $53.4M | $104.7M | $85.1M | $991.2K | $22.8K | — |
| Property, plant and equipment | $2.7M | $2.8M | $3.5M | $1.7M | — | — | — |
| Goodwill | $12.2M | $12.2M | $12.2M | — | — | — | — |
| Other intangibles | $1.7M | $1.9M | $2.2M | $0 | — | — | — |
| Total assets | $78.0M | $72.9M | $127.8M | $88.1M | $117.8M | $23.3K | — |
| Accounts payable | $29.2M | $8.1M | $15.7M | $23.3M | $244.8K | $1.4K | — |
| Short-term debt | — | — | — | $10.0M | — | — | — |
| Total current liabilities | $38.8M | $17.1M | $26.4M | $39.6M | — | — | — |
| Long-term debt | $0 | $40.5M | $31.6M | $10.6M | — | — | — |
| Total liabilities | $50.4M | $64.5M | $65.0M | $56.6M | $244.8K | $1.4K | — |
| Retained earnings | -$140.4M | -$138.5M | -$75.8M | -$62.2M | -$405.7K | -$3.2K | — |
| Total equity | $27.6M | $8.4M | $62.8M | -$55.7M | -$49.9M | $21.8K | $23.8K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.3M | -$12.4M | -$37.2M | -$16.5M | -$464.0K | -$1.7K | — |
| Depreciation and amortisation | $1.3M | $1.2M | $1.1M | $562.0K | — | — | — |
| Stock-based compensation | $7.9M | $7.7M | $3.8M | $813.0K | — | — | — |
| Capital expenditure | $642.0K | $1.3M | $2.1M | $1.1M | — | — | — |
| Investing cash flow | $22.6M | $19.8M | -$30.9M | -$1.6M | -$116.7M | — | — |
| Financing cash flow | -$37.0M | -$61.0K | $34.8M | $48.3M | $118.0M | -$469 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-115952.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $81.32B | $145.23B | $54.01B | $103.54B |
| Gross profit | — | — | — | $24.8M | $51.3M | -$4.2M | $44.4M |
| Net income | — | -$2.0K | -$402.5K | -$7.0M | -$984.0K | -$62.7M | -$1.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed Item 1.01
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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