Tigo Energy

TYGO

Solar · Energy

Price

$1.09

+0.00 (+0.00%)

Market Cap

$83.7M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Strong

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Share count rising — dilution

+338.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 14.8M (2021) → 65.0M (2025)

Winston Score History

The full picture

Tigo Energy makes small electronic devices that attach to individual solar panels to make them work better and safer. Its main products are power optimizers and rapid shutdown systems, which are sold to solar installers, distributors, and homeowners through residential and commercial solar projects. The company competes in the solar hardware market alongside larger rivals like SolarEdge and Enphase.

Tigo earns revenue by selling hardware units, and it has been expanding into software and monitoring services that provide some recurring income. The company operates globally, with sales in North America, Europe, and other markets, but it is a small player with a market cap around $100 million. Its main competitive edge is its flexible, mix-and-match approach that works with many inverter brands, but the key risk is intense price competition from much larger, better-funded rivals, which has kept the company unprofitable at the operating level.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+5.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+142.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$9M/ year

↓ Declining (-6% vs prior year)

8.9% of revenue

8.9x the sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

52.6%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~3 years

$17M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$17M cash & investments at current burn rate

Growth context

Tigo Energy is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

39.3%

Modest — 39.3% gross margin

Profit after running costs

Operating Margin

-6.6%

Losing money on operations — -6.6%

Return on the money invested

ROCE

-6.4%

Weak — -6.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+49.5%

Fast-growing sales (+49.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

-73%

Weak — only -73% of profit becomes cash

Spare cash per sale

FCF Margin

-7.4%

Burning cash (-7.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.09

Conservative — low debt load (0.09)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

7.6x

Attractive valuation — P/E 7.6

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+0.4

GROWING

Earnings roughly flat

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Dividends

Not applicable for this business.

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