Financial Data and Key Metrics Changes - Revenue for Q2 2025 increased by 89.4% year-over-year to $24.1 million from $12.7 million in the prior year period, and sequentially increased by 27.7% [10][12] - Adjusted EBITDA for Q2 2025 was $1.1 million compared to an adjusted EBITDA loss of $6.4 million in the prior year period [12] - GAAP net loss for Q2 2025 was $4.4 million, a significant improvement from a net loss of $11.3 million in the prior year period [12] Business Line Data and Key Metrics Changes - MLPE revenue represented $20.6 million or 85.7% of total revenues, while Go ESS contributed $2.3 million or 9.4%, and PREDICT plus and licensing revenue accounted for $1.2 million or 4.9% [11] - Gross profit for Q2 2025 was $10.8 million, representing 44.7% of revenue, compared to a gross profit of $3.9 million or 30.4% in the comparable year-ago period [11][12] Market Data and Key Metrics Changes - EMEA region revenue was $18.3 million, accounting for 75.9% of total revenues, while Americas revenue was $4.6 million (19.1%) and APAC revenue was $1.2 million (5%) [10][11] - The company reported increased market share gains in key markets such as Germany, the Czech Republic, and Poland [6][40] Company Strategy and Development Direction - The company aims to maintain its growth trajectory and believes its value proposition remains strong despite market challenges [6][18] - Tigo Energy plans to increase capacity and replenish inventories in response to rising demand, with expectations for several new product announcements in the future [9][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, citing a backlog and bookings that exceed Q2 revenue results [7][18] - The company anticipates a positive EBITDA for the year and expects revenues for Q3 2025 to range between $29 million and $31 million [17][30] Other Important Information - The company has largely resolved its excess inventory balance and is ramping up capacity with contract manufacturers [14] - Cash, cash equivalents, and marketable securities totaled $28 million at the end of Q2 2025, with a sequential increase of $7.7 million [14] Q&A Session Summary Question: Margin trends for Q3 and Q4, and outlook for 2026 - Management expects gross margins to remain in the low 40s for the remainder of the year, with a target model of 40% [21][22] Question: International and U.S. revenue split for Q2 and expectations for Q3 - U.S. revenue was 17% of total revenues for Q2, with 80% coming from international markets, primarily EMEA [24][25] Question: EBITDA outlook and potential for positive EBITDA by year-end - Management indicated that a positive EBITDA for the year is expected [30] Question: Strength in demand to offset potential U.S. market slowdown - Management believes there is enough strength in international markets to compensate for any U.S. market gaps [31][32] Question: Operating cost increases with improving revenues - Management plans to maintain operating expense discipline, with cash operating expenses expected to remain relatively flat [35] Question: Market share gains in key European markets - Management highlighted strong performance in Germany, the Czech Republic, and Poland, with significant market share gains [39][40]

Financial Data and Key Metrics Changes - The company reported total revenue of $18.8 million for Q1 2025, representing a 92.2% increase year-over-year and a 9.1% increase sequentially [6][8] - Gross profit for Q1 2025 was $7.2 million, or 38.1% of revenue, compared to $2.8 million, or 28.2% of revenue in the prior year [10] - Operating loss decreased by 56.2% to $4 million compared to $9.1 million in the prior year [10] - GAAP net loss for Q1 was $7 million, down from $11.5 million in the prior year [10] - Adjusted EBITDA loss decreased 67.4% to $2 million compared to $6.3 million in the prior year [10] Business Line Data and Key Metrics Changes - MLPE revenue represented $16 million, or 84.8% of total revenues, while OESF contributed $2 million, or 10.7% [9] - The company introduced a new product, the 22 amp TS4A series, which serves panels up to 725 watts, enhancing its product portfolio [7] Market Data and Key Metrics Changes - Revenue from the EMEA region was $11.5 million, accounting for 61.3% of total revenues, with strong growth noted in Italy and The Netherlands [8][9] - The Americas region generated $4.7 million, while APAC contributed $2.6 million, representing 13.6% of total revenues [9] Company Strategy and Development Direction - The company aims to continue its growth trajectory, expecting to maintain top-line growth for the remainder of 2025 due to increasing demand for its solutions [15] - Management is focused on mitigating the impact of tariffs and expanding market share, particularly in international markets [7][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate economic uncertainties and highlighted a strong track record of revenue growth over the past five quarters [15] - The company is actively working with supply chain partners to address tariff impacts and is optimistic about future revenue guidance [7][40] Other Important Information - The company has a cash position of $20.3 million as of March 31, 2025, with a slight increase in cash sequentially [12] - The company reiterated its revenue guidance for the full year of 2025, expecting revenues between $85 million and $100 million [13][14] Q&A Session Summary Question: How do you break down the growth between improving conditions with current distributors and market share gains? - Management indicated that most growth is attributed to increased market share, with existing distributors expanding their footprint [20][21] Question: What factors are contributing to market share gains? - Management noted that a broad product offering, backward compatibility, and ease of installation are key factors driving market share growth [25][26] Question: What is the expected impact of tariffs on revenue? - Management estimated that approximately 5% of Q1 revenue was affected by the China reciprocal tariff and 15% by other tariffs, but they do not foresee a substantial impact moving forward [7][40] Question: How confident is the company in its second-half revenue outlook? - Management expressed confidence based on market behavior and distributor expectations, noting a growing backlog [45][46] Question: Can you discuss the situation regarding the $50 million convertible note due in January 2026? - Management stated that the counterparty is flexible and cooperative, and they are actively working on refinancing options [50][51] Question: What is the company's strategy regarding inventory and cash flow? - Management indicated that cash flow generation is expected to be stable, with some consumption for working capital needs [53][54]

Financial Data and Key Metrics Changes - The company reported total revenue of $18.8 million for Q1 2025, representing a 92.2% increase year-over-year and a 9.1% increase sequentially [5][8] - Gross profit for Q1 2025 was $7.2 million, or 38.1% of revenue, compared to $2.8 million, or 28.2% of revenue in the prior year [10] - Operating loss decreased by 56.2% to $4 million compared to $9.1 million in the prior year [10] - GAAP net loss for Q1 was $7 million, down from $11.5 million in the prior year [10] - Adjusted EBITDA loss decreased 67.4% to $2 million compared to $6.3 million in the prior year [10] Business Line Data and Key Metrics Changes - MLPE revenue represented $16 million, or 84.8% of total revenues, while OESF contributed $2 million, or 10.7% [9] - The company introduced the new 22 amp TS4A series, which serves panels up to 725 watts, enhancing its product portfolio [6] Market Data and Key Metrics Changes - EMEA revenue was $11.5 million, accounting for 61.3% of total revenues, with strong growth from Italy and The Netherlands [8][9] - The Americas region generated $4.7 million, while APAC revenue was $2.6 million, or 13.6% of total revenues [9] Company Strategy and Development Direction - The company aims to continue its growth trajectory, expecting to maintain top-line growth for the remainder of 2025 [14] - The management is focused on mitigating the impact of tariffs and expanding market share, particularly in international markets [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of demand for their solutions despite economic uncertainties [14] - The company is actively working with supply chain partners to address the challenges posed by tariffs [7] Other Important Information - Cash, cash equivalents, and marketable securities totaled $20.3 million as of March 31, 2025, with a slight sequential increase [12] - The company expects Q2 2025 revenues to range between $21 million and $23 million, with adjusted EBITDA projected to be between negative $1.5 million and positive $0.5 million [13] Q&A Session Summary Question: How do you break down the growth between improving conditions with current distributors and market share gains? - Management noted that most growth is attributed to increased market share, with existing distributors expanding their footprint [19][20] Question: What factors are contributing to market share gains? - The company highlighted a broad product offering, backward compatibility, and ease of installation as key factors driving market share [22][24] Question: Can you provide insight into the impact of tariffs on revenue? - Management indicated that approximately 5% of Q1 revenue was affected by the China tariff, with efforts underway to mitigate this impact [7][36] Question: What is the outlook for the second half of 2025? - Management expressed confidence in their guidance, supported by a growing backlog and positive market expectations [42][43] Question: How is the company managing the $50 million convertible due in January 2026? - The counterparty is being flexible, and the company is actively working on refinancing options [46][47] Question: What is the demand for off-grid products? - Management noted growing demand for off-grid solutions, particularly in the Midwest and South regions [40] Question: How is the company addressing inventory and sourcing challenges? - The company has sufficient inventory to mitigate tariff impacts in the short term and is exploring alternative sourcing options in Korea and Japan [60][61]