Tigo Energy Reports 89.4% Revenue Growth to $24.1 Million in Q2 2025

Tigo Energy, Inc. reported significant financial improvements in its latest quarterly results, with net revenue reaching $24.1 million for the three months ended June 30, 2025, a substantial increase of 89.4% compared to $12.7 million in the same period last year. For the first half of 2025, the company generated $42.9 million in revenue, up 90.6% from $22.5 million in the first half of 2024. The gross profit for the second quarter was $10.8 million, translating to a gross margin of 44.7%, compared to a gross margin of 30.4% in the prior year. Despite these gains, Tigo Energy reported a net loss of $4.4 million for the quarter, an improvement from a loss of $11.3 million in the same period last year.

The company’s financial performance reflects a recovery in the solar market, particularly in the EMEA region, where revenue surged by 160.9% year-over-year, driven by increased demand for its module-level power electronics (MLPE) products. The Americas region also saw a 62.1% increase in revenue, while the APAC region experienced a decline of 58.1%. The growth in revenue was attributed to heightened market acceptance of Tigo's products and increased promotional activities, particularly for its GO Energy Storage Systems (GO ESS).

Operationally, Tigo Energy has made strategic moves to enhance its market position, including the expansion of its product offerings and geographic reach. The company is actively working to grow its presence in the residential solar market in the U.S. and EMEA, with new offerings launched in Italy and Germany. As of June 30, 2025, Tigo Energy reported a total of 62.6 million shares outstanding, reflecting an increase from 60.8 million shares at the end of 2024. The company’s employee headcount has also been adjusted, following a 10% workforce reduction in April 2024, which was implemented in response to previous market conditions.

Despite the positive revenue trends, Tigo Energy faces challenges related to its liquidity and upcoming debt obligations. As of June 30, 2025, the company had cash and cash equivalents of $10.2 million, alongside a Convertible Promissory Note obligation of $50 million due in January 2026. The company has expressed substantial doubt about its ability to continue as a going concern, given its current cash position and the need to address the Convertible Note. Management is exploring refinancing options and other strategies to ensure sufficient liquidity.

Looking ahead, Tigo Energy anticipates continued growth driven by the recovery in demand for solar products and the expansion of its customer base. However, the company remains cautious about potential impacts from trade tariffs, macroeconomic conditions, and regulatory changes stemming from recent legislation affecting clean energy tax credits. The company is committed to enhancing its product offerings and market presence while navigating these challenges to achieve long-term growth and stability.