Tigo Energy Inc. Stock Price, News & Analysis

Tigo Energy, Inc. (NASDAQ: TYGO) has announced that MidNite Solar Inc. has licensed Tigo's rapid shutdown technology for its module-level products. This licensing agreement allows MidNite Solar to use Tigo's patented technologies in rapid shutdown and optimization. Tigo, a leader in rapid shutdown technology and Module Level Power Electronics (MLPE), has over 150 patents granted or pending. Their technology complies with key safety standards and requirements, including UL 1741, IEC 63257, and the U.S. National Electric Code.

Tigo's MLPE products are installed worldwide, providing optimized, monitored, and safe solar solutions. The company continues to invest in R&D and offers reasonable licensing terms to industry partners. This collaboration aims to drive innovation and deliver safe, reliable solutions for the solar industry.

Tigo Energy has launched EI Professional, an advanced toolset for solar installers aimed at managing rising operations and maintenance (O&M) costs associated with growing solar portfolios. The new features of the Tigo Energy Intelligence (EI) Platform offer scalable, customizable monitoring and insights, supporting small to mid-sized installation companies. Key features include a centralized dashboard displaying critical health and performance data, one-click enrollment for unlimited subscription access, and advanced filtering tools. The EI Platform also offers free basic monitoring and premium options for more detailed analytics. Tigo aims to help installers enhance efficiency, reduce costs, and improve system performance.

Tigo Energy, a leader in intelligent solar and energy storage solutions, has announced its schedule for June 2024. The company will participate in three major events: the J.P. Morgan Energy, Power & Renewables Conference in New York on June 17-18, Intersolar Europe in Munich on June 19-21, and the ROTH 10th Annual London Conference on June 26. CFO Bill Roeschlein and CEO Zvi Alon will represent Tigo at these events, participating in fireside chats, 1-on-1 meetings, and hosting a company booth. Investors and industry partners can contact event representatives to schedule meetings or visit the respective event websites for more details.

Tigo Energy (NASDAQ: TYGO) will introduce a new Installer Loyalty Program for residential PV installers at Intersolar Europe 2024, emphasizing the growth and development of the solar industry in the EMEA region.

The program includes three tiers with benefits like co-branding, homeowner sales leads, customized collateral, and promotional opportunities. Participants also gain early access to new product developments and feedback sessions with Tigo. The initiative aims to support installers and enhance solar industry performance.

New products such as the TS4-X family of Flex MLPE solutions and the GO EV Charger will also be showcased. Training sessions and Technical Coffee Breaks will provide attendees with in-depth product insights.

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.