Tigo Energy | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 25.41 M

Revenue: As of FY2026 Q2, the actual value is USD 25.41 M, missing the estimate of USD 30.82 M.

EPS: As of FY2026 Q2, the actual value is USD 0.03.

EBIT: As of FY2026 Q2, the actual value is USD -994 K.

Second Quarter 2026 Financial Highlights

Tigo Energy, Inc. reported revenue of $25.4 million for the second quarter of 2026, an increase of 5.6% compared to $24.1 million in the second quarter of 2025. GAAP net income for the second quarter of 2026 was $2.2 million, which included a $3.2 million discrete income-tax benefit, compared to a GAAP net loss of - $4.4 million in the second quarter of 2025. Adjusted EBITDA for the second quarter of 2026 was $52 thousand, down from $1.1 million in the second quarter of 2025. Gross profit totaled $10.0 million, or 39.3% of net revenue, for the second quarter of 2026, compared to $10.8 million, or 44.7% of net revenue, in the prior year period. Operating expenses decreased to $11.7 million in the second quarter of 2026 from $12.3 million in the second quarter of 2025. Loss from operations was - $1.7 million for the second quarter of 2026, compared to - $1.5 million in the second quarter of 2025. Non-GAAP net income was $3.6 million for the second quarter of 2026, compared to a non-GAAP net loss of - $2.1 million in the second quarter of 2025.

Operational Metrics

During the second quarter of 2026, Tigo Energy, Inc. shipped 702 thousand units, or 527 MW, of Module Level Power Electronics (MLPE).

Geographic Revenue Breakdown (Q2 2026)

EMEA represented 73.1% of second-quarter revenue, with Germany being the largest market at 22.8% of revenue. APAC accounted for 10.1% of revenue, while the Americas and LATAM combined represented 16.8%. The GO Energy Storage Systems (GO ESS) contributed $2.2 million, or 8.6% of quarterly revenue.

Balance Sheet Highlights (as of June 30, 2026)

Cash and cash equivalents totaled $16.9 million, compared to $7.67 million at year-end 2025. Inventory was reduced to $20.6 million from $31.3 million at year-end 2025. Borrowings under the revolving credit facility amounted to $4.1 million.

Cash Flow Highlights (Six Months Ended June 30, 2026)

Net cash used in operating activities was - $10.3 million for the six months ended June 30, 2026, compared to net cash provided by operating activities of $7.2 million in the same period of 2025. Net cash provided by investing activities was $2.3 million for the six months ended June 30, 2026, compared to net cash used in investing activities of - $9.6 million in the prior year. Net cash provided by financing activities was $17.3 million for the six months ended June 30, 2026, compared to $0.9 million in the same period of 2025. The net increase in cash and cash equivalents was $9.2 million for the six months ended June 30, 2026, compared to a net decrease of - $1.5 million in the prior year.

Outlook / Guidance

For the third quarter ending September 30, 2026, Tigo Energy, Inc. expects revenue to be in the range of $24 million to $26 million, with Adjusted EBITDA (loss) projected between - $1 million and $0.5 million. The full-year 2026 revenue outlook has been updated to a range of $100 million to $110 million. This revision is attributed to a delayed go-to-market launch for a U.S. optimized inverter partner, a slower ramp-up of the new GO Battery, and a more gradual recovery in Europe.