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Tigo Energy(TYGO) - 2025 Q1 - Quarterly Results
TYGOTigo Energy(TYGO)2025-05-06 20:17

Financial Performance - Revenue for Q1 2025 was 18.8million,a92.218.8 million, a 92.2% increase compared to 9.8 million in Q1 2024[5] - Net loss for Q1 2025 was 7.0million,a39.37.0 million, a 39.3% decrease from a net loss of 11.5 million in Q1 2024[6] - Adjusted EBITDA loss for Q1 2025 was 2.0million,improvedfromalossof2.0 million, improved from a loss of 6.3 million in Q1 2024[6] - Gross profit for Q1 2025 was 7.2million,representing38.17.2 million, representing 38.1% of net revenue, compared to 28.2% in Q1 2024[6] - Net revenue for Q1 2025 was 18,839 million, a significant increase of 92.5% compared to 9,802millioninQ12024[26]−GrossprofitforQ12025reached9,802 million in Q1 2024[26] - Gross profit for Q1 2025 reached 7,173 million, up from 2,766millioninQ12024,reflectingagrossmarginimprovement[26]−ThenetlossforQ12025was2,766 million in Q1 2024, reflecting a gross margin improvement[26] - The net loss for Q1 2025 was 7,001 million, a reduction from a net loss of 11,506millioninQ12024,indicatingimprovedfinancialperformance[26]−AdjustedEBITDAlossforQ12025was11,506 million in Q1 2024, indicating improved financial performance[26] - Adjusted EBITDA loss for Q1 2025 was 2,044 million, compared to a loss of 6,273millioninQ12024,showinganarrowingoflosses[30]−Totaloperatingexpensesdecreasedto6,273 million in Q1 2024, showing a narrowing of losses[30] - Total operating expenses decreased to 11,150 million in Q1 2025 from 11,854millioninQ12024,highlightingcostmanagementefforts[26]−Thecompanyreportedabasiclosspershareof11,854 million in Q1 2024, highlighting cost management efforts[26] - The company reported a basic loss per share of 0.11 for Q1 2025, an improvement from a loss of 0.19pershareinQ12024[26]CashandLiquidity−Cashandcashequivalentsincreasedto0.19 per share in Q1 2024[26] Cash and Liquidity - Cash and cash equivalents increased to 20.3 million as of March 31, 2025, up 0.4millionfromQ42024[5]−Cashusedinoperatingactivitieswas0.4 million from Q4 2024[5] - Cash used in operating activities was 530 million in Q1 2025, a significant improvement from 11,266millioninQ12024[28]−CashandcashequivalentsattheendofQ12025were11,266 million in Q1 2024[28] - Cash and cash equivalents at the end of Q1 2025 were 8,501 million, down from 9,025millionattheendofQ12024[28]OperationalMetrics−Thecompanyshipped502,000units,equivalentto351MWofMLPEduringQ12025[5]−Operatingexpensesdecreasedby5.99,025 million at the end of Q1 2024[28] Operational Metrics - The company shipped 502,000 units, equivalent to 351 MW of MLPE during Q1 2025[5] - Operating expenses decreased by 5.9% to 11.2 million in Q1 2025 compared to 11.9millioninQ42024[6]−Thecompanyexperiencedadecreaseinaccountsreceivableby11.9 million in Q4 2024[6] - The company experienced a decrease in accounts receivable by 2,303 million in Q1 2025, compared to an increase of 1,546millioninQ12024[28]FutureOutlook−Secondquarter2025revenueguidanceisprojectedbetween1,546 million in Q1 2024[28] Future Outlook - Second quarter 2025 revenue guidance is projected between 21 million and 23million[13]−Fullyear2025revenueoutlookremainsbetween23 million[13] - Full year 2025 revenue outlook remains between 85 million and 100million[7]ProductDevelopment−ThecompanyintroducedanewevolutionoftheTS4−Afamily,enhancingitsMLPEproductlinewithhigherwattagecapabilities[5]InvestmentActivities−Thecompanyisfocusingonmarketablesecurities,withpurchasestotaling100 million[7] Product Development - The company introduced a new evolution of the TS4-A family, enhancing its MLPE product line with higher wattage capabilities[5] Investment Activities - The company is focusing on marketable securities, with purchases totaling 7,957 million in Q1 2025, indicating strategic investment activities[28]