Financial Performance - Revenue for Q3 2025 was $30.6 million, a 115% increase compared to Q3 2024[4] - Income from operations for Q3 2025 was $0.6 million, compared to an operating loss of $10.4 million in Q3 2024[4] - Net loss for Q3 2025 was $2.2 million, an 83.5% decrease from a net loss of $13.1 million in Q3 2024[11] - Adjusted EBITDA for Q3 2025 was $2.9 million, compared to an adjusted EBITDA loss of $8.3 million in Q3 2024[4] - The company reported a gross profit of $13.1 million, or 42.7% of net revenue, compared to $1.8 million, or 12.5% of net revenue in Q3 2024[11] - Net revenue for the three months ended September 30, 2025, was $30,613 million, a significant increase from $14,237 million in the same period of 2024, representing a growth of 115%[24] - Gross profit for the nine months ended September 30, 2025, reached $30,997 million, compared to $8,407 million in 2024, indicating a year-over-year increase of 268%[24] - Total operating expenses for the three months ended September 30, 2025, were $12,412 million, slightly up from $12,191 million in the same period of 2024[24] - The net loss for the three months ended September 30, 2025, was $2,166 million, a decrease from a net loss of $13,117 million in the same period of 2024[24] - Adjusted EBITDA (loss) for the nine months ended September 30, 2025, was $1,893 million, an improvement from a loss of $20,997 million in 2024[28] Cash and Cash Equivalents - Cash and cash equivalents at the end of Q3 2025 were $40.3 million, a sequential increase of $12.3 million from Q2 2025[4] - Cash and cash equivalents at the end of the period on September 30, 2025, were $24,468 million, up from $9,461 million at the end of September 30, 2024[26] - The company reported a net cash provided by operating activities of $8,674 million for the nine months ended September 30, 2025, compared to a net cash used of $13,407 million in 2024[26] Operational Metrics - The company shipped 795 thousand units, or 600 MW, of Module Level Power Electronics (MLPE) during Q3 2025[4] - Research and development expenses for the three months ended September 30, 2025, were $2,501 million, slightly higher than $2,433 million in the same period of 2024[24] - The weighted-average common shares outstanding for the three months ended September 30, 2025, were 65,683,332, compared to 60,608,934 in the same period of 2024[24] - The company experienced a significant change in accounts receivable, with a decrease of $7,696 million for the nine months ended September 30, 2025, compared to a decrease of $350 million in 2024[26] Future Outlook - The company expects Q4 2025 revenues to be between $29.0 million and $31.0 million[11] - For the full year 2025, the company anticipates revenues to be between $102.5 million and $104.5 million[6] Partnerships - The company announced a manufacturing and marketing partnership with EG4 Electronics to produce Tigo-optimized inverters and MLPE[4]
ROTH CH ACQUISIT(ROCG) - 2025 Q3 - Quarterly Results