TIGO ENERGY, INC.

For the period ended Mar 31, 2025. Filed May 6, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 6, 2025

TYGO$0.74+1.8%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024

CONDENSED CONSOLI DATED BALANCE SHEETS

(In thousands, except per share data)

	March 31, 2025	December 31, 2024
ASSETS
Current assets
Cash and cash equivalents	$8,501	$11,746
Marketable securities, short-term	11,777	8,156
Accounts receivable, net of allowance for credit losses of $2,133 and $2,239 at March 31, 2025, and December 31, 2024, respectively	10,373	7,976
Inventory	18,906	21,997
Prepaid expenses and other current assets	2,225	3,533
Total current assets	51,782	53,408
Property and equipment, net	2,530	2,812
Operating right of use assets	1,275	1,576
Intangible assets, net	1,854	1,922
Other assets	989	984
Goodwill	12,209	12,209
Total assets	$70,639	$72,911
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$7,968	$8,077
Accrued expenses and other current liabilities	5,875	7,361
Short-term debt, net of unamortized debt discount and issuance costs	42,746	—
Deferred revenue, current portion	687	525
Warranty liability, current portion	611	496
Operating lease liabilities, current portion	438	649
Total current liabilities	58,325	17,108
Warranty liability, net of current portion	6,713	5,302
Deferred revenue, net of current portion	691	644
Long-term debt, net of unamortized debt discount and issuance costs	—	40,511
Operating lease liabilities, net of current portion	843	961
Other long-term liabilities	292	—
Total liabilities	66,864	64,526
Commitments and Contingencies (Note 8)
Stockholders’ equity
Common stock, $0.0001 par value: 150,000,000 shares authorized; 61,914,519 and 60,800,130 shares issued and outstanding at March 31, 2025, and December 31, 2024, respectively	6	6
Additional paid-in capital	149,296	146,903
Accumulated deficit	(145,527)	(138,526)
Accumulated other comprehensive income	—	2
Total stockholders’ equity	3,775	8,385
Total liabilities and stockholders’ equity	$70,639	$72,911

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

	Three Months Ended March 31,
	2025	2024
Net revenue	$18,839	$9,802
Cost of revenue	11,666	7,036
Gross profit	7,173	2,766
Operating expenses:
Research and development	2,164	2,471
Sales and marketing	3,916	4,603
General and administrative	5,070	4,780
Total operating expenses	11,150	11,854
Loss from operations	(3,977)	(9,088)
Other (income) expenses, net:
Change in fair value of contingent shares liability	—	(196)
Interest expense	2,871	2,826
Other income, net	(143)	(212)
Total other expenses, net	2,728	2,418
Loss before income tax expense	(6,705)	(11,506)
Income tax expense	296	—
Net loss	$(7,001)	$(11,506)
Other comprehensive loss:
Unrealized (loss) gain resulting from change in fair value of marketable securities	$(2)	$12
Total comprehensive loss	$(7,003)	$(11,494)
Loss per common share
Basic	$(0.11)	$(0.19)
Diluted	$(0.11)	$(0.19)
Weighted-average common shares outstanding
Basic	61,657,718	59,374,019
Diluted	61,657,718	59,374,019

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except share data)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.