Tigo Energy reports Q1 EPS (19c), consensus (22c)

Reports Q1 revenue $9.8M, consensus $11.22M. “This quarter, we started seeing meaningful progress in the reduction of industry-wide inventory overhang challenges that have persisted since the second quarter of 2023,” said Zvi Alon, Chairman and CEO of Tigo. “We closed the quarter with $9.8 million in revenue and an adjusted EBITDA loss of $6.3 million, both sequential improvements and within or ahead of our stated outlook. In addition, we announced the introduction of our TS4-X product family, specifically geared to address the high-current and high-power panel requirements in the C&I and utility markets. The TS4-X product family incorporates a unique multi-factor rapid shutdown capability and allows for flexible solar panel system design for customers who require different combinations of optimization, monitoring, and rapid shut-down.”