TYGO

MKT CAP:$378M

Tigo Energy, Inc.

Market Cap

$378M

Energy·Solar·🇺🇸 United States·NASDAQ

Energy·Solar·🇺🇸·NASDAQ

Stock Price

$4.99+$3.48 (+230.28%)

Apr 24, 2026

Company Details

Tigo Energy, Inc. provides intelligent solar and energy storage solutions. It develops and manufactures smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, ...

CEO

Zvi Alon

IPO Date

Sep 3, 2021

Website

www.tigoenergy.com

Key Metrics TTM

Revenue

$104M

+91.7% YoY

Net Income

-$2M

EPS (Diluted)

-$0.05

Free Cash Flow

$10M

Revenue / Share

$1.43

Gross Margin

42.8%

Operating Margin

-4.3%

Net Margin

-1.8%

FCF Margin

9.3%

P/S

3.6x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Mar 19, 2026

$104M+91.7%EPS -$0.03

Q4 2025

Mar 19, 2026

$30M+73.8%EPS $0.16

Q3 2025

Nov 4, 2025

$31M+115.0%EPS -$0.03

Q2 2025

Aug 5, 2025

$24M+89.4%EPS -$0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$10M	$3M	-$2M
Q2 22	$18M	$6M	$610.0K
Q3 22	$23M	$7M	-$2M
Q4 22	$31M	$10M	$2M
Q1 23	$50M	$18M	$8M
Q2 23	$69M	$26M	$9M
Q3 23	$17M	$4M	-$11M
Q4 23	$9M	$3M	-$14M
Q1 24	$10M	$3M	-$9M
Q2 24	$13M	$4M	-$8M
Q3 24	$14M	$2M	-$10M
Q4 24	$17M	-$13M	-$24M
Q1 25	$19M	$7M	-$4M
Q2 25	$24M	$11M	-$2M
Q3 25	$31M	$13M	$649.0K
Q4 25	$30M	$13M	$333.0K

Valuation

Quarter	P/S	P/E
Q1 22	38.1x	—
Q2 22	13.7x	—
Q3 22	7.5x	—
Q4 22	4.6x	—
Q1 23	3.1x	67.8x
Q2 23	2.2x	—
Q3 23	2.3x	25.7x
Q4 23	2.6x	—
Q1 24	3.6x	—
Q2 24	7.7x	—
Q3 24	8.2x	—
Q4 24	7.0x	—
Q1 25	6.0x	—
Q2 25	5.1x	—
Q3 25	4.2x	—
Q4 25	3.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$5M	-$5M
Q2 22	-$6M	-$6M
Q3 22	-$7M	-$7M
Q4 22	-$3M	-$4M
Q1 23	-$5M	-$6M
Q2 23	-$4M	-$6M
Q3 23	-$24M	-$25M
Q4 23	-$8M	-$8M
Q1 24	-$11M	-$12M
Q2 24	-$2M	-$2M
Q3 24	-$535.0K	-$874.0K
Q4 24	$1M	$524.0K
Q1 25	-$530.0K	-$530.0K
Q2 25	$8M	$8M
Q3 25	$1M	$1M
Q4 25	$2M	$1M

Capital Expenditures

Quarter	CapEx
Q1 22	$250.0K
Q2 22	$308.0K
Q3 22	$354.0K
Q4 22	$485.0K
Q1 23	$642.0K
Q2 23	$2M
Q3 23	$345.0K
Q4 23	$259.0K
Q1 24	$367.0K
Q2 24	$51.0K
Q3 24	$339.0K
Q4 24	$529.0K
Q1 25	$0
Q2 25	$243.0K
Q3 25	$46.0K
Q4 25	$445.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	—	+17028900.0%
Q3 22	—	+27685455.6%
Q4 22	—	+21575.3%
Q1 23	+404.7%	+267.6%
Q2 23	+290.2%	+253.3%
Q3 23	-25.1%	+13.7%
Q4 23	-70.1%	-20.8%
Q1 24	-80.4%	-55.3%
Q2 24	-81.5%	-64.9%
Q3 24	-16.8%	-13.0%
Q4 24	+86.8%	+81.5%
Q1 25	+92.2%	+20.8%
Q2 25	+89.4%	+21.1%
Q3 25	+115.0%	+21.5%
Q4 25	+73.8%	-28.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$26.0K	0.3%
Q2 22	$0	0.0%
Q3 22	$341.0K	1.5%
Q4 22	$420.0K	1.4%
Q1 23	$367.0K	0.7%
Q2 23	$0	0.0%
Q3 23	$1M	7.4%
Q4 23	$2M	18.1%
Q1 24	$3M	25.6%
Q2 24	$2M	13.4%
Q3 24	$2M	12.5%
Q4 24	$464.0K	2.7%
Q1 25	$2M	8.4%
Q2 25	$2M	9.6%
Q3 25	$2M	6.2%
Q4 25	$2M	6.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$1M	$750.0K	$2M
Q2 22	$1M	$1M	$2M
Q3 22	$2M	$4M	$3M
Q4 22	$1M	$3M	$4M
Q1 23	$2M	$4M	$5M
Q2 23	$2M	$10M	$5M
Q3 23	$2M	$7M	$6M
Q4 23	$2M	$8M	$6M
Q1 24	$2M	$5M	$5M
Q2 24	$3M	$6M	$4M
Q3 24	$2M	$5M	$4M
Q4 24	$2M	$5M	$4M
Q1 25	$2M	$5M	$4M
Q2 25	$2M	$6M	$4M
Q3 25	$3M	$5M	$5M
Q4 25	$2M	$6M	$5M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q1 25	$5M	$3M	$12M
Q2 25	$5M	$1M	$18M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$533.0K	$0	$533.0K
Q2 22	$401.7K	$0	$401.7K
Q3 22	$42M	$0	$42M
Q4 22	$38M	$0	$38M
Q1 23	$51M	$5M	$56M
Q2 23	$12M	$44M	$56M
Q3 23	$2M	$34M	$37M
Q4 23	$4M	$27M	$31M
Q1 24	$9M	$13M	$22M
Q2 24	$15M	$5M	$20M
Q3 24	$9M	$10M	$20M
Q4 24	$12M	$8M	$20M
Q1 25	$9M	$12M	$20M
Q2 25	$10M	$18M	$28M
Q3 25	$24M	$16M	$40M
Q4 25	$8M	$0	$8M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	15M	0.0%	—
Q2 22	58M	+291.9%	+291.9%
Q3 22	58M	0.0%	+291.9%
Q4 22	15M	-74.6%	-0.4%
Q1 23	6M	-61.3%	-61.5%
Q2 23	28M	+385.6%	-52.3%
Q3 23	68M	+146.4%	+17.6%
Q4 23	59M	-14.1%	+297.5%
Q1 24	59M	+1.1%	+939.0%
Q2 24	60M	+1.7%	+117.5%
Q3 24	61M	+0.4%	-11.3%
Q4 24	61M	+0.2%	+3.4%
Q1 25	62M	+1.5%	+3.8%
Q2 25	60M	-2.1%	0.0%
Q3 25	63M	+4.7%	+4.3%
Q4 25	73M	+14.8%	+19.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$1M	7
Q2 22	$3M	7
Q3 22	$3M	7
Q4 22	$4M	7
Q1 23	$7M	7
Q2 23	$10M	7
Q3 23	$2M	7
Q4 23	$52.5K	176
Q1 24	$55.7K	176
Q2 24	$72.2K	176
Q3 24	$80.9K	176
Q4 24	$123.4K	140
Q1 25	$134.6K	140
Q2 25	$171.8K	140
Q3 25	$218.7K	140
Q4 25	$217.6K	138

Revenue / Employee