Tigo Energy’s Q3 2025 revenue rose 115% YoY and 27% sequentially, led by strong EMEA and Americas sales
The company achieved GAAP operating profitability, with adjusted EBITDA at $2.9 million
Its net loss narrowed 83.5% YoY; US sales surged 68% on repower market growth
Solar and energy software solutions provider Tigo Energy improved its revenue in Q3 2025 by 115% year-on-year (YoY) to $30.6 million, also 27.3% higher on a sequential basis, driven by strong growth in the EMEA and Americas regions. These regions accounted for 70% and 26% of the company’s revenues for the quarter, respectively.
This is the company’s 7th sequential increase in a row, it said. In the US, especially, sales grew by around 68% sequentially as Tigo targets growth in the repower market.
The management shared that the company is geographically diversified, with 79% of Q3 2025 YTD revenues occurring outside of the US. Europe, representing 70% of the quarter’s YTD revenues, is expected to rebound from a 1% decline in 2024 and grow 3% in 2025. The US market, representing 21% of the quarterly YTD revenues, is expected to decline 1% in 2025 following a 19% decline in 2024.
“We are pleased to report a return to GAAP operating profitability this quarter, following our achievement of adjusted EBITDA profitability at the end of the second quarter,” said Tigo Energy’s CFO Bill Roeschlein. “Supported by a measured use of our at-the-market (ATM) program, which concluded this month, we increased cash on hand to $40.3 million at quarter-end.”
Its net loss totaled $2.2 million, narrowing 83.5% from $13.1 million in Q3 2024. Adjusted EBITDA totaled $2.9 million, compared to a loss of $8.3 million last year.
For Q4 2025, Tigo expects revenues to range within $29 million to $31 million and adjusted EBITDA in the range of $2.0 million to $4.0 million. For the full-year 2025, it projects revenue of $102.5 million to $104.5 million.
Tigo currently outsources contract manufacturing in Thailand and China. It expects to begin production at its US factory in H1 2026.
Analysts at ROTH observe, “Looking forward, TYGO's partnership with EG4 allows TYGO to tackle the domestic content market and share 45X benefits. US manufactured products are expected to ship in Q1'26. Despite the challenged US market ahead, TYGO could grow through strategic positioning in newer/untapped markets.”