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Tigo Energy Q3 revenue misses on reduced subsidies

By Reuters News


Overview

  • US solar solutions provider's Q3 revenue fell 21.5% yr/yr, missing analyst expectations

  • Company posted GAAP net income of $0.4 mln versus a loss a year ago

  • Q3 revenue decline driven by slow Europe recovery and U.S. tax credit expiration


Outlook

  • Tigo sees Q4 revenue between $20 mln and $22 mln

  • Company expects Q4 adjusted EBITDA (loss) between $(3.0) mln and $(1.5) mln

  • Tigo updates 2026 revenue outlook to $95 mln to $97 mln


Result Drivers

  • EUROPEAN MARKET RECOVERY - Co said revenue in EMEA declined 14.8% yr/yr as market adjusts to reduced subsidies

  • US TAX CREDIT EXPIRATION - Co said US revenue fell 51.4% yr/yr as market adjusts to expiration of IRS Section 25D tax credit

  • GO ESS SALES SLOWDOWN - Co said GO ESS revenue declined 58.6% yr/yr due to lower sales volumes in U.S. and Italy


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$24 mln

$25.33 mln (3 Analysts)

Q3 Net Income

$400,000

Q3 Adjusted EBITDA

Beat

$1.50 mln

$50,000 (2 Analysts)

Q3 Gross Profit

$11.10 mln

Q3 Operating Expenses

$11.20 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the semiconductors peer group is "buy"

  • Wall Street's median 12-month price target for Tigo Energy, Inc. is $3.50, about 282.4% above its November 3 closing price of $0.92


Reuters Recommended Reads

  • Nov 4 - SolarEdge Q3 revenue slightly misses estimates on soft demand

  • Nov 4 - FTC Solar Q3 revenue slightly beats estimates on project wins

  • Nov 4 - Solstice Advanced Materials beats Q3 revenue estimates on segment growth, raises FY outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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