Tigo Energy Reports Q4 & Full Year 2024 Results

Campbell, Calif. – February 11, 2025 – Tigo Energy, Inc. (NASDAQ: TYGO) reported its unaudited financial results for Q4 and the full year 2024. Q4 revenue was $17.3 million, a 21.3% sequential increase and an 86.8% year-over-year increase. However, full-year 2024 revenue was down 62.8% year-over-year to $54 million. The company attributed this to inventory charges of $19.5 million in Q4 and $23.5 million for the full year, primarily for excess GO ESS energy storage solutions inventory. Q4 net loss was $26.8 million (including inventory charges), while the full-year net loss was $62.7 million. Adjusted EBITDA loss was $22.1 million for Q4 and $43.1 million for the full year. Despite the losses, the company ended Q4 with $19.9 million in cash, cash equivalents, and marketable securities.

Management highlighted sequential revenue growth in the Americas and EMEA regions and an increase in market share. They also noted cost reductions and a reduction in inventory. Guidance for Q1 2025 includes revenue of $17 million to $19 million and an adjusted EBITDA loss of $2.5 million to $4.5 million. Full-year 2025 revenue is projected to be between $85 million and $100 million.