TIGO ENERGY, INC.

For the period ended Sep 30, 2026. Filed Nov 4, 2026.

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.

Sep 30, 2026 · Filed Nov 4, 2026

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 September 30, 2026, and December 31, 2025

CONDENSED CONSOLI DATED BALANCE SHEETS

(In thousands, except share and per share data)

	September 30, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$16,753	$7,670
Accounts receivable, net of allowance for credit losses of $2,212 and $356 at September 30, 2026, and December 31, 2025, respectively	14,960	13,895
Inventory	18,102	31,286
Prepaid expenses and other current assets	5,191	5,148
Total current assets	55,006	57,999
Property and equipment, net	2,414	2,652
Operating lease right of use assets	1,919	2,338
Goodwill	12,209	12,209
Intangible assets, net	1,449	1,652
Deferred tax assets	4,024	264
Other assets	1,240	923
Total assets	$78,261	$78,037
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$11,097	$29,196
Accrued expenses and other current liabilities	5,674	7,129
Deferred revenue, current portion	724	961
Warranty liability, current portion	576	626
Operating lease liabilities, current portion	904	856
Total current liabilities	18,975	38,768
Warranty liability, net of current portion	8,667	8,718
Deferred revenue, net of current portion	770	860
Operating lease liabilities, net of current portion	1,329	1,817
Borrowings under revolving credit facility	2,516	—
Other long-term liabilities	190	251
Total liabilities	32,447	50,414
Commitments and Contingencies (Note 8)
Stockholders’ equity:
Common stock, $0.0001 par value: 150,000,000 shares authorized; 77,563,845 and 70,424,566 shares issued and outstanding at September 30, 2026, and December 31, 2025, respectively	7	7
Additional paid-in capital	185,428	168,022
Accumulated deficit	(139,621)	(140,406)
Total stockholders’ equity	45,814	27,623
Total liabilities and stockholders’ equity	$78,261	$78,037

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(In thousands, except share and per share data)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net revenue	$24,039	$30,613	$74,642	$73,507
Cost of revenue	12,942	17,552	42,755	42,510
Gross profit	11,097	13,061	31,887	30,997
Operating expenses:
Research and development	2,201	2,501	7,352	6,932
Sales and marketing	3,917	4,515	12,445	12,843
General and administrative	5,056	5,396	16,257	16,054
Total operating expenses	11,174	12,412	36,054	35,829
(Loss) income from operations	(77)	649	(4,167)	(4,832)
Other (income) expenses, net:
Interest expense	101	2,861	128	8,600
Gain on sale of intangible assets	—	—	(355)	—
Other income, net	(233)	(276)	(1,061)	(519)
Total other (income) expenses, net	(132)	2,585	(1,288)	8,081
Income (loss) before income tax (benefit) expense	55	(1,936)	(2,879)	(12,913)
Income tax (benefit) expense	(306)	230	(3,664)	684
Net income (loss)	361	(2,166)	785	(13,597)
Other comprehensive income (loss):
Unrealized gain resulting from change in fair value of marketable securities	—	8	—	3
Total comprehensive income (loss)	$361	$(2,158)	$785	$(13,594)
Earnings (loss) per common share
Basic	$0.00	$(0.03)	$0.01	$(0.22)
Diluted	$0.00	$(0.03)	$0.01	$(0.22)
Weighted-average common shares outstanding
Basic	77,045,771	65,683,332	75,318,550	63,226,401
Diluted	78,041,788	65,683,332	78,553,959	63,226,401

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except share data)

	Stockholders’ equity
	Common stock
	Shares	Amount	Additionalpaid-incapital	Accumulateddeficit	Total stockholders’ equity
Balance at December 31, 2025	70,424,566	$7	$168,022	$(140,406)	$27,623
Issuance of common stock upon exercise of stock options	235,359	—	103	—	103
Stock-based compensation expense	—	—	1,608	—	1,608
Issuance of common stock in connection with employee incentive restricted stock awards	6,200	—	—	—	—
Issuance of common stock in connection with employee incentive performance stock awards	432,851	—	—	—	—
Issuance of common stock in connection with registered direct offering, net of issuance costs	5,000,000	—	14,042	—	14,042
Shares withheld for taxes upon restricted and performance stock awards vesting	(176,819)	—	(750)	—	(750)
Shares withheld for taxes upon options exercised	(62,329)	—	(30)	—	(30)
Net loss	—	—	—	(1,750)	(1,750)
Balance at March 31, 2026	75,859,828	7	182,995	(142,156)	40,846
Issuance of common stock upon exercise of stock options	246,534	—	240	—	240
Stock-based compensation expense	—	—	1,379	—	1,379
Issuance of common stock in connection with employee incentive restricted stock awards	662,741	—	—	—	—
Net income	—	—	—	2,174	2,174
Balance at June 30, 2026	76,769,103	7	184,614	(139,982)	44,639
Issuance of common stock upon exercise of stock options	25,000	—	14	—	14
Stock-based compensation expense	—	—	1,236	—	1,236
Issuance of common stock in connection with employee incentive restricted stock awards	1,067,929	—	—	—	—
Shares withheld for taxes upon restricted stock awards vesting	(298,187)	—	(436)	—	(436)
Net income	—	—	—	361	361
Balance at September 30, 2026	77,563,845	$7	$185,428	$(139,621)	$45,814

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except share data)

	Stockholders’ equity
	Common stock
	Shares	Amount	Additionalpaid-incapital	Accumulateddeficit	Accumulated other comprehensive income (loss)	Total stockholders’ equity
Balance at December 31, 2024	60,800,130	$6	$146,903	$(138,526)	$2	$8,385
Issuance of common stock upon exercise of stock options	2,334	—	2	—	—	2
Stock-based compensation expense	—	—	1,576	—	—	1,576
Issuance of common stock in connection with employee incentive restricted stock awards	127,500	—	—	—	—	—
Issuance of common stock in connection with at-the-market offering, net of offering costs	984,966	—	815	—	—	815
Shares withheld for taxes upon restricted stock awards vesting	(411)	—	—	—	—	—
Unrealized loss resulting from change in fair value of marketable securities	—	—	—	—	(2)	(2)
Net loss	—	—	—	(7,001)	—	(7,001)
Balance at March 31, 2025	61,914,519	6	149,296	(145,527)	—	3,775
Issuance of common stock upon exercise of stock options	160,019	—	95	—	—	95
Stock-based compensation expense	—	—	2,300	—	—	2,300
Issuance of common stock in connection with employee incentive restricted stock awards	554,938	—	—	—	—	—
Issuance of common stock in connection with at-the-market offering, net of offering costs	2,243	—	(42)	—	—	(42)
Shares withheld for taxes upon restricted stock awards vesting	(2,929)	—	(3)	—	—	(3)
Unrealized loss resulting from change in fair value of marketable securities	—	—	—	—	(3)	(3)
Net loss	—	—	—	(4,430)	—	(4,430)
Balance at June 30, 2025	62,628,790	6	151,646	(149,957)	(3)	1,692
Issuance of common stock upon exercise of stock options	130,454	—	24	—	—	24
Stock-based compensation expense	—	—	1,906	—	—	1,906
Issuance of common stock in connection with employee incentive restricted stock awards	494,627	—	1	—	—	1
Issuance of common stock in connection with at-the-market offering, net of offering costs	6,485,219	1	10,591	—	—	10,592
Shares withheld for taxes upon restricted stock awards vesting	(211,350)	—	(2)	—	—	(2)
Shares withheld for taxes upon options exercised	(43,077)	—	—	—	—	—
Unrealized gain resulting from change in fair value of marketable securities	—	—	—	—	8	8
Net loss	—	—	—	(2,166)	—	(2,166)
Balance at September 30, 2025	69,484,663	$7	$164,166	$(152,123)	$5	$12,055

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