Tigo Energy reported fourth‑quarter revenue of $30.0 million, up 73.8% from $17.3 million a year earlier, and a diluted earnings per share of $0.16, a turnaround from the $0.44 loss reported in Q4 2024. The revenue figure was slightly below the consensus estimate of $30.6 million, indicating a modest miss, but the company still delivered a positive EPS beat of roughly $0.20 per share, driven by disciplined cost management and a favorable product mix that shifted toward higher‑margin module‑level power electronics.
Full‑year 2025 revenue rose 91.7% to $103.5 million, with gross profit of $13.4 million (gross margin 44.5%). The margin improvement reflects the elimination of the inventory charge that had produced a gross loss in 2024, as well as pricing power in the U.S. and EMEA markets. Net income of $11.7 million supports the positive EPS and underscores the company’s return to profitability after a challenging 2024.
Tigo also completed the repayment of its $50 million convertible note ahead of the January 2026 maturity, removing a potential equity overhang and strengthening the balance sheet. The early repayment reduces dilution risk and frees capital for future growth initiatives, a move that management highlighted as a key milestone for the company’s financial health.
Segment data show that module‑level power electronics (MLPE) revenue accounted for $26.9 million of the quarter’s $30.0 million, while U.S. sales grew 24.4% sequentially from Q3, EMEA contributed 60.3% of revenue, and APAC more than doubled sequentially. The strong U.S. performance was driven by increased demand for ITC‑qualified products, while EMEA growth reflected a rebound in commercial installations.
Management guided 2026 revenue growth of 26%–30%, targeting $130 million to $135 million for the full year. The guidance reflects confidence in a continued market recovery, the company’s open‑architecture strategy, and the expectation that the debt repayment will improve financial flexibility. Management cautioned that tariff headwinds and ongoing refinancing needs could temper growth, but the overall outlook remains optimistic.
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