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

Financial Performance - Revenue for Q1 2025 was $18.8 million, a 92.2% increase compared to $9.8 million in Q1 2024[5] - Net loss for Q1 2025 was $7.0 million, a 39.3% decrease from a net loss of $11.5 million in Q1 2024[6] - Adjusted EBITDA loss for Q1 2025 was $2.0 million, improved from a loss of $6.3 million in Q1 2024[6] - Gross profit for Q1 2025 was $7.2 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 $9,802 million in Q1 2024[26] - Gross profit for Q1 2025 reached $7,173 million, up from $2,766 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 $11,506 million in Q1 2024, indicating improved financial performance[26] - Adjusted EBITDA loss for Q1 2025 was $2,044 million, compared to a loss of $6,273 million in Q1 2024, showing a narrowing of losses[30] - Total operating expenses decreased to $11,150 million in Q1 2025 from $11,854 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 $0.19 per share in Q1 2024[26] Cash and Liquidity - Cash and cash equivalents increased to $20.3 million as of March 31, 2025, up $0.4 million from Q4 2024[5] - Cash used in operating activities was $530 million in Q1 2025, a significant improvement from $11,266 million in Q1 2024[28] - Cash and cash equivalents at the end of Q1 2025 were $8,501 million, down from $9,025 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 $11.9 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 $1,546 million in Q1 2024[28] Future Outlook - Second quarter 2025 revenue guidance is projected between $21 million and $23 million[13] - Full year 2025 revenue outlook remains between $85 million and $100 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]