Tigo Energy Files 2023 Annual Report on Form 10-K

TL;DR

<b>Tigo Energy, Inc. has submitted its 2023 annual 10-K filing, providing a detailed financial overview.</b>

AI Summary

TIGO ENERGY, INC. (TYGO) filed a Annual Report (10-K) with the SEC on March 21, 2024. Tigo Energy, Inc. filed its annual report for the fiscal year ended December 31, 2023. The filing is a 10-K, indicating a comprehensive overview of the company's financial performance and condition. The company's SIC code is 3674, Semiconductors & Related Devices. The report covers financial data and events throughout 2023, including specific dates like 2023-12-31 and 2023-05-23. Key financial elements such as Additional Paid-In Capital and various asset types (e.g., Leasehold Improvements, Vehicles) are detailed.

Why It Matters

For investors and stakeholders tracking TIGO ENERGY, INC., this filing contains several important signals. The 10-K filing is a mandatory annual report for publicly traded companies, offering investors a deep dive into the company's financial health, risks, and strategic direction. This filing provides crucial data points for analysts and investors to assess Tigo Energy's performance, compare it against industry peers, and make informed investment decisions.

Risk Assessment

Risk Level: medium — TIGO ENERGY, INC. shows moderate risk based on this filing. The company's financial disclosures in the 10-K, while comprehensive, often contain forward-looking statements and risk factors that require careful interpretation by investors.

Analyst Insight

Investors should carefully review the 'Risk Factors' section of the 10-K to understand potential challenges and uncertainties facing Tigo Energy.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-21 — Filing Date (FILED AS OF DATE)
• 3674 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 001-40710 — SEC File Number (SEC FILE NUMBER)
• 24771834 — Film Number (FILM NUMBER)
• 20210406 — Date of Name Change (FORMER COMPANY)
• 2023-05-23 — Specific Date Mentioned (us-gaap:WarrantMember srt:MaximumMember)
• 2022-01-01 — Reporting Period Start (us-gaap:AdditionalPaidInCapitalMember)

Key Players & Entities

• TIGO ENERGY, INC. (company) — COMPANY CONFORMED NAME
• TYGO (company) — tk
• 10-K (filing) — FORM TYPE
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240321 (date) — FILED AS OF DATE
• 0000950170-24-034765 (filing) — ACCESSION NUMBER
• 3674 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION

FAQ

Risk Factors

• Financial Performance [medium — financial]: The 10-K filing provides a comprehensive overview of Tigo Energy's financial performance for the fiscal year ended December 31, 2023.

Industry Context

Tigo Energy operates within the Semiconductors & Related Devices industry (SIC 3674). This sector is characterized by rapid technological advancements and global supply chain dynamics.

Regulatory Implications

As a publicly traded company in the US, Tigo Energy is subject to the regulations of the Securities and Exchange Commission (SEC), requiring regular filings like the 10-K.

What Investors Should Do

1. Review the detailed financial statements in the 10-K for the fiscal year ended December 31, 2023.
2. Analyze the 'Risk Factors' section to understand potential business challenges and their impact.
3. Compare Tigo Energy's reported metrics against industry benchmarks and previous fiscal years.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-21: Filing Date — Date the 10-K was officially submitted to the SEC.
• 2021-04-06: Date of Name Change — Indicates a past corporate restructuring or rebranding.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share TYGO The Nasdaq Stock Mar
• $18.55 — date on the Nasdaq Stock Market LLC of $18.55. The number of shares of Registrant's

Filing Documents

• tygo-20231231.htm (10-K) — 3074KB
• tygo-ex4_2.htm (EX-4.2) — 39KB
• tygo-ex10_3.htm (EX-10.3) — 44KB
• tygo-ex10_22.htm (EX-10.22) — 22KB
• tygo-ex21_1.htm (EX-21.1) — 9KB
• tygo-ex23_1.htm (EX-23.1) — 4KB
• tygo-ex23_2.htm (EX-23.2) — 3KB
• tygo-ex31_1.htm (EX-31.1) — 14KB
• tygo-ex31_2.htm (EX-31.2) — 14KB
• tygo-ex32_1.htm (EX-32.1) — 7KB
• tygo-ex32_2.htm (EX-32.2) — 7KB
• tygo-ex97_1.htm (EX-97.1) — 41KB
• img113177238_0.jpg (GRAPHIC) — 2KB
• 0000950170-24-034765.txt (&nbsp;) — 14354KB
• tygo-20231231.xsd (EX-101.SCH) — 2099KB
• tygo-20231231_htm.xml (XML) — 2661KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 55 Item 1C. Cybersecurity 55 Item 2.

Properties

Properties 57 Item 3.

Legal Proceedings

Legal Proceedings 57 Item 4. Mine Safety Disclosures 57 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 58 Item 6. Reserved 58 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 59 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 73 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 73 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 112 Item 9A.

Controls and Procedures

Controls and Procedures 112 Item 9B. Other Information 113 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 113 PART III Item 10. Directors, Executive Officers and Corporate Governance 114 Item 11.

Executive Compensation

Executive Compensation 114 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114 Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accounting Fees and Services 114 PART IV Item 15. Exhibits and Financial Statement Schedules 115 Item 16. Form 10-K Summary 117 v PART I It em 1. Business. Overview Our mission is to deliver smart system solutions, combining hardware and software, which enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. We believe we are a worldwide leader in the development and delivery of products and solutions that are flexible and dependable, increasing the energy generation of solar energy systems. We have served the solar energy industry with advanced power electronics, including the manufacturing and development of our Module Level Power Electronics ("MLPEs"), since our inception in 2007. Until 2021, we primarily focused on our MLPEs, which are devices that reside under the solar panel and improve safety features and energy production for the installer and system owner. Our MLPEs are designed to be highly flexible solutions that work with other inverters and modules, providing the installer with an open system solution and a variety of choices when designing a system for the consumer. Although the solar optimizer and inverter space has been historically served by two major suppliers, we expect to attract new customers and gain market share by expanding sales of our MLPEs, which provide solar panel power optimization and rapid shutdown, our GO Energy Storage Systems ("GO ESS"), (formerly referred to as the Tigo EI Solution), which provides solar energy storage management capabilities, and our Energy Intelligence ("EI") platform which provides monitoring and energy demand forecasting capabilities. We began to offer our GO ESS to residential customers in the Unit

View Full Filing

View this 10-K filing on SEC EDGAR