$TYGO

TIGO ENERGY, INC.

CIK:0001855447|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenue	$ 25,406	$ 24,055	$ 50,603	$ 42,894
Cost of revenue	15,410	13,292	29,813	24,958
Gross profit	9,996	10,763	20,790	17,936
Operating expenses:
Research and development	2,507	2,267	5,151	4,431
Sales and marketing	4,048	4,412	8,528	8,328
General and administrative	5,121	5,588	11,201	10,658
Total operating expenses	11,676	12,267	24,880	23,417
Loss from operations	(1,680)	(1,504)	(4,090)	(5,481)
Other expenses (income), net:
Interest expense	26	2,868	27	5,739
Gain on sale of intangible assets	(355)		(355)
Other income, net	(331)	(100)	(828)	(243)
Total other (income) expenses, net	(660)	2,768	(1,156)	5,496
Loss before income tax expense	(1,020)	(4,272)	(2,934)	(10,977)
Income tax (benefit) expense	(3,194)	158	(3,358)	454
Net income (loss)	2,174	(4,430)	424	(11,431)
Other comprehensive income (loss):
Unrealized loss resulting from change in fair value of marketable securities	0	(3)	0	(5)
Total comprehensive income (loss)	$ 2,174	$ (4,433)	$ 424	$ (11,436)
Earnings (loss) per common share
Basic	$ 0.03	$ (0.07)	$ 0.01	$ (0.18)
Diluted	$ 0.03	$ (0.07)	$ 0.01	$ (0.18)
Weighted-average common shares outstanding
Basic	76,281,971	62,290,411	74,440,626	61,977,574
Diluted	80,551,007	62,290,411	78,795,730	61,977,574

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 424	$ (11,431)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	681	642
Provision to write down inventories to net realizable value	125	98
Non-cash interest expense	39	4,470
Stock-based compensation	2,987	3,876
Change in allowance for credit losses	1,405	(125)
Non-cash lease expense	410	508
Accretion of interest on marketable securities		(253)
Loss on disposal of property and equipment		11
Gain on sale of intangible assets	(355)
Payment of transaction costs related to sale of intangible assets	(2,395)
Deferred income tax (benefit) expense	(3,367)	(6)
Changes in operating assets and liabilities:
Accounts receivable	(1,094)	(2,294)
Inventory	10,600	2,972
Prepaid expenses and other assets	1,684	450
Accounts payable	(17,966)	6,149
Accrued expenses and other liabilities	(2,494)	(538)
Deferred revenue	(508)	453
Warranty liability	(23)	2,329
Operating lease liabilities	(403)	(341)
Other long-term liabilities	(42)	272
Net cash (used in) provided by operating activities	(10,292)	7,242
Cash flows from investing activities:
Purchase of marketable securities		(19,025)
Purchase of property and equipment	(500)	(243)
Sales and maturities of marketable securities		9,625
Proceeds from sale of intangible assets	2,750
Net cash provided by (used in) investing activities	2,250	(9,643)
Cash flows from financing activities:
Proceeds from exercise of stock options	343	97
Proceeds from issuance of common stock	14,250	773
Proceeds from borrowings under revolving credit facility	4,146
Payment of debt issuance costs	(465)
Payment of registered direct offering costs	(208)
Payment of tax withholdings on restricted and performance stock awards	(750)	(3)
Payment of tax withholdings on options exercised	(30)
Net cash provided by financing activities	17,286	867
Net increase (decrease) in cash and cash equivalents	9,244	(1,534)
Cash and cash equivalents at beginning of period	7,670	11,746
Cash and cash equivalents at end of period	16,914	10,212
Supplemental disclosure of cash flow information:
Cash paid for interest	17	1,267
Cash paid for income taxes, net	146	44
Supplemental schedule of non-cash investing and financing activities:
Operating lease right of use assets obtained in exchange for operating lease liabilities	65	1,633
Property and equipment in accounts payable	$ 238
Unrealized loss resulting from change in fair value of marketable securities		$ (5)

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 16,914,000	$ 7,670,000
Accounts receivable, net of allowance for credit losses of $1,807 and $356 at June 30, 2026, and December 31, 2025, respectively	13,584,000	13,895,000
Inventory	20,561,000	31,286,000
Prepaid expenses and other current assets	3,528,000	5,148,000
Total current assets	54,587,000	57,999,000
Property and equipment, net	2,639,000	2,652,000
Operating lease right of use assets	1,993,000	2,338,000
Intangible assets, net	1,516,000	1,652,000
Deferred tax assets	3,631,000	264,000
Other assets	1,285,000	923,000
Goodwill	12,209,000	12,209,000
Total assets	77,860,000	78,037,000
Current liabilities:
Accounts payable	11,262,000	29,196,000
Accrued expenses and other current liabilities	4,635,000	7,129,000
Deferred revenue, current portion	507,000	961,000
Warranty liability, current portion	640,000	626,000
Operating lease liabilities, current portion	897,000	856,000
Total current liabilities	17,941,000	38,768,000
Warranty liability, net of current portion	8,681,000	8,718,000
Deferred revenue, net of current portion	806,000	860,000
Borrowings under revolving credit facility	4,146,000	0
Operating lease liabilities, net of current portion	1,438,000	1,817,000
Other long-term liabilities	209,000	251,000
Total liabilities	33,221,000	50,414,000
Commitments and Contingencies (Note 8)
Stockholders' equity
Common stock, $0.0001 par value: 150,000,000 shares authorized; 76,769,103 and 70,424,566 shares issued and outstanding at June 30, 2026, and December 31, 2025, respectively	7,000	7,000
Additional paid-in capital	184,614,000	168,022,000
Accumulated deficit	(139,982,000)	(140,406,000)
Total stockholders' equity	44,639,000	27,623,000
Total liabilities and stockholders' equity	$ 77,860,000	$ 78,037,000