Tigo Energy, Inc., a prominent supplier of energy software and intelligent solar solutions, released unaudited financial results for the second quarter that ended on June 30, 2025, financial guidance for the third quarter that ended on September 30, 2025, and higher financial guidance for the entire year 2025 ahead.
Recent Financial and Operational Highlights
- Revenue for the second quarter of 2025 of $24.1 million, up 89.4% compared to the second quarter of 2024.
- Net loss for the second quarter of 2025 of $4.4 million, compared to a net loss of $11.3 million in the second quarter of 2024.
- Adjusted EBITDA for the second quarter of 2025 of $1.1 million compared to an Adjusted EBITDA loss of $6.4 million in the second quarter of 2024.
- Cash, cash equivalents, and marketable securities of $28.0 million at June 30, 2025, a sequential increase of $7.7 million from the first quarter of 2025.
- During the second quarter of 2025, we shipped 646 thousand units, or 477 MW, of MLPE.
Management Commentary
“We are pleased to report a 27.7% sequential increase in quarterly revenues, our sixth in a row, which exceeded the high-end of our guidance,” stated Zvi Alon, Chairman and CEO of Tigo. “This performance underscores our ability to gain market share in this challenging environment, driven by strong demand for our innovative MLPE products. Looking ahead, the existing backlog and bookings that are expected to ship in the third quarter currently exceed our revenue results for the second quarter, and we are actively working to restock inventories and ramp capacity in response to increased demand.”
“During the second quarter, we saw strong sequential growth in the EMEA region, which comprised 76% of our total revenue in the quarter, along with flat but stable results from the US, which comprised 17% of our total revenue in the quarter. We expect that our geographical and manufacturing diversification will continue to minimize our exposure to current tariff headwinds in the industry, while continuing to perform at a competitive level in the U.S. market.”
“During the second quarter, our cash balance grew by $7.7 million, and we outperformed our guidance range for the second quarter, culminating in a return to adjusted EBITDA profitability,” stated Bill Roeschlein, Chief Financial Officer of Tigo. “Based on our current demand forecast, we are raising our 2025 financial outlook for full year revenue to be between $100 million and $105 million dollars.”
Second Quarter 2025 Financial Results
Results compare the 2025 fiscal second quarter ended June 30, 2025 to the 2024 fiscal second quarter ended June 30, 2024, unless otherwise indicated.
- Revenues totaled $24.1 million, an 89.4% increase from $12.7 million. On a sequential quarter basis, revenues increased by 27.7% compared to the first quarter of 2025.
- Gross profit totaled $10.8 million, or 44.7% of net revenue, compared to gross profit of $3.9 million, or 30.4% of net revenue.
- Operating expenses totaled $12.3 million, flat compared to the prior year comparable period.
- Net loss totaled $4.4 million, a 60.9% decrease compared to a net loss of $11.3 million.
- Adjusted EBITDA totaled $1.1 million, compared to an adjusted EBITDA loss of $6.4 million.
Third Quarter 2025 Financial Guidance and Full Year 2025 Outlook
The Company provides guidance for the third quarter ending September 30, 2025 as follows:
- Revenues are expected to be within the range of $29 million to $31 million.
- Adjusted EBITDA is expected to be within the range of $2.0 million to $4.0 million.
- GAAP operating profit at the high end of the Adjusted EBITDA guidance range.
For the full year 2025, the Company anticipates revenues to be between $100 million and $105 million.
Actual results may differ materially from the Company’s guidance as a result of, among other things, the factors described below under “Forward-Looking Statements”.
