The company's financial position appears increasingly vulnerable, with total equity contracting to $40.8 million as of 2026Q1, largely driven by the accumulation of $142.2 million in retained losses.
Tigo Energy, Inc. (TYGO) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 54.59M | 58M | 53.41M | 104.71M | 85.09M | 22.95M | 14.98M | 25K |
| Cash & Short-Term Investments | 16.91M | 7.67M | 19.9M | 31.21M | 36.19M | 6.18M | 4.24M | 25K |
| Cash Only | 16.91M | 7.67M | 11.75M | 4.41M | 36.19M | 6.18M | 4.24M | 25K |
| Short-Term Investments | 0 | 0 | 8.16M | 26.81M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 13.58M | 13.89M | 7.98M | 6.86M | 15.82M | 3.88M | 4.47M | 0 |
| Days Sales Outstanding | 47.11 | 48.98 | 53.9 | 17.25 | 70.99 | 32.44 | 49.03 | - |
| Inventory | 20.56M | 31.29M | 22M | 61.4M | 24.91M | 10.07M | 4.54M | 0 |
| Days Inventory Outstanding | 149.89 | 192.94 | 138.02 | 238.61 | 160.81 | 118.54 | 72.9 | - |
| Other Current Assets | 3.53M | 5.15M | 0 | 4.64M | 4.2M | 2.82M | 1.27M | 0 |
| Total Non-Current Assets | 23.28M | 20.04M | 19.5M | 23.07M | 2.99M | 1.01M | 1.11M | 0 |
| Property, Plant & Equipment | 4.63M | 4.99M | 4.39M | 5.96M | 2.84M | 932K | 1.03M | 0 |
| Fixed Asset Turnover | 22.94x | 20.75x | 12.31x | 24.36x | 28.62x | 46.83x | 32.38x | - |
| Goodwill | 12.21M | 12.21M | 12.21M | 12.21M | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.52M | 1.65M | 1.92M | 2.19M | 63K | 48K | 0 | 0 |
| Long-Term Investments | 10K | 0 | 0 | 1.98M | 24.68M | 0 | 0 | 0 |
| Other Non-Current Assets | 1.29M | 1.19M | 984K | 707K | 82K | 30K | 78K | 0 |
| Total Assets | 77.87M | 78.04M | 72.91M | 127.78M | 88.08M | 23.96M | 16.09M | 25K |
| Asset Turnover | 1.31x | 1.33x | 0.74x | 1.14x | 0.92x | 1.82x | 2.07x | - |
| Asset Growth % | 18.96% | 7.03% | -42.94% | 45.07% | 267.63% | 48.92% | 64252% | - |
| Total Current Liabilities | 22.09M | 38.77M | 17.11M | 26.42M | 39.59M | 22.05M | 26.18M | 1.23K |
| Accounts Payable | 11.26M | 29.2M | 8.08M | 15.69M | 23.29M | 12.25M | 7.67M | 0 |
| Days Payables Outstanding | 118.13 | 180.05 | 50.68 | 60.95 | 150.29 | 144.24 | 123.07 | - |
| Short-Term Debt | 4.15M | 856K | 0 | 0 | 10M | 8M | 12.96M | 0 |
| Deferred Revenue (Current) | 2.99M | 961K | 525K | 335K | 50K | 48K | 0 | 0 |
| Other Current Liabilities | 640K | 7.75M | 2.16M | 1.23M | 1.29M | 689K | 3.92M | 1.23K |
| Current Ratio | 2.47x | 1.50x | 3.12x | 3.96x | 2.15x | 1.04x | 0.57x | 20.41x |
| Quick Ratio | 1.54x | 0.69x | 1.84x | 1.64x | 1.52x | 0.58x | 0.40x | 20.41x |
| Cash Conversion Cycle | 78.87 | 61.87 | 141.24 | 194.9 | 81.5 | 6.74 | -1.13 | - |
| Total Non-Current Liabilities | 11.14M | 11.65M | 47.42M | 38.53M | 104.18M | 51.8M | 10.74M | 0 |
| Long-Term Debt | 0 | 1.82M | 40.51M | 31.57M | 10.64M | 1.41M | 7.95M | 0 |
| Capital Lease Obligations | 3.44M | 0 | 961K | 1.39M | 762K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 88.65M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 8.9M | 9.83M | 5.3M | 5.11M | 3.96M | 50.21M | 2.79M | 0 |
| Total Liabilities | 33.23M | 50.41M | 64.53M | 64.95M | 143.77M | 73.85M | 36.92M | 1.23K |
| Total Debt | 6.48M | 2.67M | 42.12M | 34.15M | 21.98M | 9.41M | 20.9M | 0 |
| Net Debt | -10.43M | -5M | 30.38M | 29.75M | -14.21M | 3.23M | 16.67M | -25K |
| Debt / Equity | 0.15x | 0.10x | 5.02x | 0.54x | - | - | - | - |
| Debt / EBITDA | -3.59x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 5.79x | - | - | - | - | - | - | - |
| Interest Coverage | 2.27x | 0.88x | -4.49x | 0.90x | -3.66x | -0.86x | - | - |
| Total Equity | 44.64M | 27.62M | 8.38M | 62.82M | -55.69M | -49.9M | -20.83M | 23.77K |
| Equity Growth % | 3685.7% | 229.43% | -86.65% | 212.81% | -11.62% | -139.5% | -87725.66% | - |
| Book Value per Share | 0.55 | 0.42 | 0.14 | 1.45 | -11.27 | -3.36 | -1.40 | 0.00 |
| Total Shareholders' Equity | 44.64M | 27.62M | 8.38M | 62.82M | -55.69M | -49.9M | -20.83M | 23.77K |
| Common Stock | 7K | 7K | 6K | 6K | 2K | 2K | 2K | 287 |
| Retained Earnings | -139.98M | -140.41M | -138.53M | -75.78M | -62.22M | -55.18M | -50.31M | -1.23K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 2K | -59K | -88.65M | 0 | -103K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying TYGO stock.
As of 2025, Tigo Energy, Inc. (TYGO) had total assets of $78.0M including $58.0M in current assets.
Tigo Energy, Inc. (TYGO) carries total debt of $2.7M, offset by $7.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Tigo Energy, Inc. (TYGO) has total shareholders' equity (book value) of $27.6M ($0.42 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Tigo Energy, Inc. (TYGO) reported a current ratio of 1.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and capital constraints
Metrics are mathematically derived from official filings.
Tightening Liquidity Amidst Operational Burn
According to recent financial statements, Tigo's cash position has dwindled to $7.67 million as of 2025Q4, creating a precarious liquidity buffer that leaves the company with limited room to maneuver against ongoing operating losses and potential volatility in solar market demand cycles.
The current ratio of 1.50 in 2025Q4 represents a significant compression from the 6.24 observed in 2024Q1, signaling a rapid erosion of short-term solvency. Investors should monitor whether this liquidity contraction necessitates dilutive financing or aggressive working capital management to sustain operations.
Leverage Dynamics and Refinancing Risks
As reported in quarterly filings, Tigo's debt-to-equity ratio spiked to 0.10 in 2025Q4, reflecting a shift in capital structure that warrants close scrutiny given the company's history of high-interest-rate sensitivity and the persistent need for external funding to support its hardware-centric business model.
While the absolute debt level remains relatively modest, the volatility in the D/E ratio—which reached as high as 28.30 in 2025Q2—suggests that the company's capital structure is highly unstable. This instability may indicate that debt is being used as a stop-gap measure to manage cash flow shortfalls rather than as a strategic tool for growth.
Equity Erosion and Capital Dilution
Based on reported figures, Tigo's total equity has contracted significantly from $62.8 million in 2023Q4 to $27.6 million in 2025Q4, a trend largely driven by the accumulation of $140.4 million in retained losses that underscores the difficulty of achieving sustainable profitability.
The persistent negative retained earnings suggest that the company has yet to find a path to self-sustaining operations, forcing a reliance on equity-based financing. This ongoing dilution of shareholder value appears to be a direct consequence of the company's inability to convert its high-growth revenue profile into bottom-line results.
Hidden Risks in Asset Composition
Analysis of the balance sheet reveals that goodwill remains stagnant at $12.2 million, which, when viewed alongside the company's negative operating margins, suggests a potential risk of future impairment charges if the anticipated synergies from its storage and software expansion fail to materialize.
The reliance on intangible assets in a hardware-heavy sector may mask the true economic value of the company's portfolio. Investors should be wary that these assets may not provide the necessary support for the balance sheet should the company's competitive positioning in the MLPE market face further erosion.