Tigo Energy, Inc. - TYGO STOCK NEWS

Tigo Energy announced that Constructora San Jose has chosen its rapid shutdown technology for a 142MWp solar installation in Spain. This project will use over 107,000 Tigo TS4-A-2F MLPE devices and 550 Tigo RSS Transmitters to ensure safety and communication efficiency. The installation will produce clean energy, support local industry, and feed surplus power back to the grid. The project will begin in late 2024 and complete by early 2025. Tigo's Green Glove program will provide support throughout the installation process.

Tigo Energy reported its first quarter 2024 financial results, showing a revenue of $9.8 million, a GAAP gross margin of 28.2%, and a net loss of $11.5 million. The company experienced an 80.4% decrease in revenue compared to the same period last year but saw a sequential increase of 6.0%. Operating expenses rose by 12.4%, leading to an adjusted EBITDA loss of $6.3 million. Tigo shipped 249,000 MLPE units and introduced new products, including the TS4-X Family and the Tigo GO EV Charger for the Italian market. Looking ahead, Tigo expects second quarter revenues between $12.0 million and $16.0 million, with an adjusted EBITDA loss ranging from $5.5 million to $8.0 million.

Tigo Energy, Inc. (NASDAQ: TYGO) announced the release of the Tigo TS4-X line, offering high-power solar modules up to 800W with Multi-Factor Rapid Shutdown for critical applications. The products provide safety, monitoring, and optimization features, supporting compatibility with Pure Signal™ technology and third-party inverters. Designed for C&I and utility solar markets, the TS4-X line enhances design flexibility, reduces labor costs, and ensures global compliance with industry standards.

Tigo Energy, Inc. introduced the first Tigo EI Residential Solar Solution with whole-home backup in Puerto Rico. The system was deployed by CEnergyS Solar Solutions in Arecibo, consisting of Tigo TS4 Flex MLPE products, an EI Inverter, and a modular DC-coupled EI Battery. The installation aims to provide reliable renewable energy options on the island in alignment with Puerto Rico's goal of achieving a 100% renewable energy future by 2050.

Tigo Energy Inc. (Nasdaq: TYGO) will report its first-quarter 2024 financial results on May 14, 2024, at 4:30 p.m. ET. The company is a leading provider of intelligent solar and energy software solutions. A conference call will be held to discuss the results, followed by a Q&A session. Registration link and contact details are provided for participation.

Tigo Energy, Inc. partners with Laibach Solar to optimize solar system at its headquarters in California, overcoming shading challenges and maximizing energy gain with Reclaimed Energy. The installation features 180 Tigo TS4-A-O MLPE devices and the Tigo Access Point, contributing to U.S. corporate solar adoption growth. Laibach Solar's high-quality installation design ensures minimal shading impact and module-level monitoring for peak efficiency.

Tigo Energy, Inc. (NASDAQ: TYGO) emphasizes its commitment to Total Quality Solar (TQS) at the NABCEP conference, showcasing real-world examples, software training, and Green Glove customer support. The company aims to improve solar ecosystem efficiency through error reduction and optimization.

Tigo Energy, Inc. (NASDAQ: TYGO) launches GO EV Charger in Italy, offering solar installers a seamless e-mobility solution. The charger integrates with Tigo EI Residential Solar Solution, providing high flexibility, multiple charging modes, and remote management through the Tigo Energy Intelligence app.

Tigo Energy, Inc. reported fourth quarter and full year 2023 revenue of $9.2 million and $145.2 million, respectively, showing significant growth. Gross profit increased by 107.1% to $51.3 million. However, the company experienced a net loss of $1.0 million for the full year 2023. Tigo deployed its 10 millionth TS4 device and expanded its product line, software platform, and licensee base.