$TYGO
TIGO ENERGY, INC.

2024 Q3 Form 10-Q Financial Statement

#000095017024091765 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $14.24M $12.70M
YoY Change -16.76% -81.55%
Cost Of Revenue $12.46M $8.834M
YoY Change -3.73% -79.42%
Gross Profit $1.774M $3.867M
YoY Change -57.34% -85.07%
Gross Profit Margin 12.46% 30.45%
Selling, General & Admin $9.758M $9.566M
YoY Change -24.65% -35.44%
% of Gross Profit 550.06% 247.38%
Research & Development $2.433M $2.704M
YoY Change 0.33% 11.55%
% of Gross Profit 137.15% 69.93%
Depreciation & Amortization $200.0K $300.0K
YoY Change 0.0% 50.0%
% of Gross Profit 11.27% 7.76%
Operating Expenses $12.19M $12.27M
YoY Change -20.71% -28.83%
Operating Profit -$10.42M -$8.403M
YoY Change -7.14% -196.98%
Interest Expense -$2.861M $2.862M
YoY Change -0.49% -280.34%
% of Operating Profit
Other Income/Expense, Net -$2.700M -$2.902M
YoY Change -94.73% -106.95%
Pretax Income -$13.12M -$11.31M
YoY Change -132.78% -65.86%
Income Tax $0.00 $16.00K
% Of Pretax Income
Net Earnings -$13.12M -$11.32M
YoY Change -145.14% -48.95%
Net Earnings / Revenue -92.13% -89.13%
Basic Earnings Per Share -$0.22 -$0.19
Diluted Earnings Per Share -$0.22 -$0.19
COMMON SHARES
Basic Shares Outstanding 60.48M 60.36M
Diluted Shares Outstanding 60.61M 60.36M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.50M $20.16M
YoY Change 196.64% 11.61%
Cash & Equivalents $9.461M $14.94M
Short-Term Investments $10.04M $5.214M
Other Short-Term Assets $3.594M $4.709M
YoY Change 29.51% 24.51%
Inventory $46.79M $51.31M
Prepaid Expenses
Receivables $8.828M $6.917M
Other Receivables $0.00 $0.00
Total Short-Term Assets $78.72M $83.09M
YoY Change -32.87% -46.69%
LONG-TERM ASSETS
Property, Plant & Equipment $3.044M $3.191M
YoY Change 10.17% 12.48%
Goodwill $12.21M $12.21M
YoY Change -6.65% -6.65%
Intangibles $1.989M $2.057M
YoY Change -11.99% -11.6%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $772.0K $768.0K
YoY Change 6.48% 6.37%
Total Long-Term Assets $19.86M $20.24M
YoY Change -23.31% -48.46%
TOTAL ASSETS
Total Short-Term Assets $78.72M $83.09M
Total Long-Term Assets $19.86M $20.24M
Total Assets $98.57M $103.3M
YoY Change -31.14% -47.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.84M $7.085M
YoY Change -39.25% -86.91%
Accrued Expenses $5.429M $5.688M
YoY Change -15.24% -13.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.90M $15.47M
YoY Change -33.98% -76.74%
LONG-TERM LIABILITIES
Long-Term Debt $38.28M $36.04M
YoY Change 30.48% 33.07%
Other Long-Term Liabilities $6.925M $7.075M
YoY Change 869.89% 203.39%
Total Long-Term Liabilities $38.28M $36.04M
YoY Change 27.38% 22.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.90M $15.47M
Total Long-Term Liabilities $38.28M $36.04M
Total Liabilities $65.10M $58.59M
YoY Change -3.29% -64.43%
SHAREHOLDERS EQUITY
Retained Earnings -$111.7M -$98.61M
YoY Change 83.14% 9.49%
Common Stock $6.000K $6.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.47M $44.74M
YoY Change
Total Liabilities & Shareholders Equity $98.57M $103.3M
YoY Change -31.14% -47.05%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$13.12M -$11.32M
YoY Change -145.14% -48.95%
Depreciation, Depletion And Amortization $200.0K $300.0K
YoY Change 0.0% 50.0%
Cash From Operating Activities -$535.0K -$1.606M
YoY Change -97.81% -62.77%
INVESTING ACTIVITIES
Capital Expenditures $339.0K $51.00K
YoY Change -1.74% -97.4%
Acquisitions
YoY Change
Other Investing Activities -$4.706M $7.765M
YoY Change -140.74% -115.38%
Cash From Investing Activities -$5.045M $7.714M
YoY Change -145.02% -114.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -102.0K 10.00K
YoY Change -102.72% -99.97%
NET CHANGE
Cash From Operating Activities -535.0K -1.606M
Cash From Investing Activities -5.045M 7.714M
Cash From Financing Activities -102.0K 10.00K
Net Change In Cash -5.682M 6.118M
YoY Change -40.09% -123.5%
FREE CASH FLOW
Cash From Operating Activities -$535.0K -$1.606M
Capital Expenditures $339.0K $51.00K
Free Cash Flow -$874.0K -$1.657M
YoY Change -96.47% -73.59%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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InterestPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
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tygo Property Plant And Equipment In Accounts Payable
PropertyPlantAndEquipmentInAccountsPayable
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tygo Property Plant And Equipment In Accounts Payable
PropertyPlantAndEquipmentInAccountsPayable
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tygo Non Cash Consideration Paid For Acquisition
NonCashConsiderationPaidForAcquisition
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tygo Non Cash Consideration Paid For Acquisition
NonCashConsiderationPaidForAcquisition
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tygo Contingent Shares Liability From Acquisition
ContingentSharesLiabilityFromAcquisition
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tygo Contingent Shares Liability From Acquisition
ContingentSharesLiabilityFromAcquisition
2167000
tygo Unrealized Gain Resulting From Change In Fair Value Of Marketable Securities
UnrealizedGainResultingFromChangeInFairValueOfMarketableSecurities
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tygo Unrealized Gain Resulting From Change In Fair Value Of Marketable Securities
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us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
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tygo Fair Value Of Derivative Note Liability At Issuance
FairValueOfDerivativeNoteLiabilityAtIssuance
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tygo Convertible Preferred Stock Dividends Of Non Cash Investing And Financing Activities
ConvertiblePreferredStockDividendsOfNonCashInvestingAndFinancingActivities
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tygo Reclassification Of Deferred Issuance Costs To Additional Paid In Capital
ReclassificationOfDeferredIssuanceCostsToAdditionalPaidInCapital
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tygo Conversion Of Convertible Preferred Stock Into Common Stock In Connection With Business Combination
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tygo Issuance Of Preferred Stock Upon Exercise Of Preferred Warrants
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us-gaap Nature Of Operations
NatureOfOperations
<div class="item-list-element-wrapper" style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:4.537%;display:inline-flex;justify-content:flex-start;">1.</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Nature of Operations </span></div></div><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Tigo Energy, Inc. (f/k/a Roth CH Acquisition IV Co.) and subsidiaries (together, the “Company”) consists of Tigo Energy, Inc. (“Tigo”), its wholly-owned direct subsidiary: Tigo Energy MergeCo, Inc. (f/k/a Tigo Energy, Inc.) (“Legacy Tigo”), and its wholly-owned indirect subsidiaries: Tigo Energy Israel Ltd., Foresight Energy, Ltd. (“fSight”), Tigo Energy Italy SRL, Tigo Energy Systems Trading (Suzhou) and Tigo Energy Australia Pty Ltd. Prior to the consummation of the Business Combination (as defined below), the operations of the Company were conducted through Legacy Tigo. Legacy Tigo was incorporated in Delaware in 2007 and commenced operations in 2010.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company provides solar and energy storage solutions, including module level power electronics (“MLPE”) designed to maximize the energy output of individual solar modules, delivering more energy, active management, and enhanced safety for utility, commercial, and residential solar arrays. The Company is headquartered in Campbell, California with offices in Europe, Asia and the Middle East.</span></p><p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Entry into a Material Definitive Agreement</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On December 5, 2022, Roth CH Acquisition IV Co., a Delaware corporation (“ROCG”), Roth IV Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of ROCG (“Merger Sub”), and Legacy Tigo, entered into an Agreement and Plan of Merger, as amended on April 6, 2023 (the “Merger Agreement”), pursuant to which, among other transactions, on May 23, 2023 (the “Closing Date”), Merger Sub merged with and into Legacy Tigo (the “Merger”), with Legacy Tigo surviving the Merger as a wholly-owned subsidiary of ROCG (the Merger, together with the other transactions described in the Merger Agreement, the “Business Combination”). In connection with the closing of the Business Combination, ROCG changed its name to “Tigo Energy, Inc.”</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Basis of Presentation</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) promulgated by the Financial Accounting Standards Board (“FASB”). The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the Business Combination, the merger between ROCG and Legacy Tigo was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, ROCG was treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Legacy Tigo issuing stock for the net assets of ROCG, accompanied by a recapitalization. The net assets of ROCG are stated at historical cost, with no goodwill or other intangible assets recorded. The consolidated assets, liabilities and results of operations prior to the Reverse Recapitalization are those of Legacy Tigo. The shares and corresponding capital amounts and earnings per share available for common stockholders, prior to the Closing Date, have been retroactively recasted as shares reflecting the exchange ratio established in the Business Combination.</span><span style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has determined the functional currency of the subsidiaries to be the U.S. dollar. The Company remeasures monetary assets and liabilities of its foreign operations at exchange rates in effect at the balance sheet date and nonmonetary assets and liabilities at their historical exchange rates. Expenses are remeasured at the weighted-average exchange rates during the relevant reporting period. These remeasurement gains and losses are recorded in other income, net in the condensed consolidated statements of operations and comprehensive loss and were not material for the three and six months ended June 30, 2024, and 2023.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly Tigo’s condensed consolidated balance sheet as of June 30, 2024 and its condensed consolidated statements of operations and comprehensive loss, cash flows, and convertible preferred stock and changes stockholders’ equity (deficit) for the three and six months ended June 30, 2024, and 2023. Operating results for the three and six months</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ended June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024. The unaudited condensed consolidated financial statements, presented herein, do not contain all of the required disclosures under GAAP for annual consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2023, has been derived from the audited consolidated balance sheet as of that date. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 21, 2024.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical information and various other assumptions that are believed to be reasonable under the circumstances. Examples of such estimates include, among other things, the valuation of share-based awards, the recoverability of long-lived assets, the assessment of intangible assets and goodwill for impairment, provisions for warranty and expected credit losses, inventory obsolescence, sales returns, future price concessions, valuation allowances and the estimated useful lives of plant and equipment and acquired intangible assets. Actual results may materially differ from these estimates. On an ongoing basis, the Company reviews its estimates to ensure that these estimates appropriately reflect changes in its business or new information as it becomes available.</span></p>
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IncreaseDecreaseOnContingentSharesIssuable
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CY2023 tygo Increase Decrease On Contingent Shares Issuable
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252288
CY2024Q2 tygo Liability Fair Value
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CY2024Q1 us-gaap Business Combination Contingent Consideration Liability
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CY2024Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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CY2024Q1 tygo Liability Fair Value
LiabilityFairValue
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tygo Increase Decrease On Contingent Shares Issuable
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CY2024Q2 us-gaap Business Combination Contingent Consideration Liability
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BusinessCombinationAcquisitionRelatedCosts
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us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
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BusinessCombinationAcquisitionRelatedCosts
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us-gaap Business Combination Acquisition Related Costs
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CY2024Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2023Q2 us-gaap Undistributed Earnings Loss From Continuing Operations Available To Common Shareholders Basic
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us-gaap Undistributed Earnings Loss From Continuing Operations Available To Common Shareholders Basic
UndistributedEarningsLossFromContinuingOperationsAvailableToCommonShareholdersBasic
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59874991
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17174936
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.09
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11321000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23424000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22827000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18665000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-11321000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-23424000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-22827000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18665000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60363680
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27750374
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59874991
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17174936
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60363680
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27750374
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59874991
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17174936
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.09
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5768750
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3267452
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4649864
tygo Incremental Common Shares Attributable To Dilutive Effect Of Convertible Promissory Note
IncrementalCommonSharesAttributableToDilutiveEffectOfConvertiblePromissoryNote
5305861
tygo Incremental Common Shares Attributable To Dilutive Effect Of Convertible Promissory Note
IncrementalCommonSharesAttributableToDilutiveEffectOfConvertiblePromissoryNote
5454545
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8573313
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
15873159
CY2024Q2 tygo Total Current Assets Marketable Securities
TotalCurrentAssetsMarketableSecurities
5214000
CY2023Q4 tygo Total Current Assets Marketable Securities
TotalCurrentAssetsMarketableSecurities
26806000
CY2023Q4 tygo Total Longterm Assets Marketable Securities
TotalLongtermAssetsMarketableSecurities
1977000
CY2023Q4 tygo Total Available For Sale Marketable Securities
TotalAvailableForSaleMarketableSecurities
28783000
CY2024Q2 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
35800000
CY2024Q2 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
FairValueOptionIneligibleItemsAggregateCarryingAmount
36000000
CY2023Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
58100000
CY2023Q4 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
FairValueOptionIneligibleItemsAggregateCarryingAmount
31600000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12701000000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68826000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22503000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118884000000
CY2024Q1 us-gaap Deferred Revenue
DeferredRevenue
1051000
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
1608000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
801000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
1122000
CY2024Q2 tygo Contract With Customer Liability Deferral Of Revenue
ContractWithCustomerLiabilityDeferralOfRevenue
2949000
CY2023Q2 tygo Contract With Customer Liability Deferral Of Revenue
ContractWithCustomerLiabilityDeferralOfRevenue
10971000
tygo Contract With Customer Liability Deferral Of Revenue
ContractWithCustomerLiabilityDeferralOfRevenue
4615000
tygo Contract With Customer Liability Deferral Of Revenue
ContractWithCustomerLiabilityDeferralOfRevenue
23169000
CY2024Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3021000
CY2023Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
11956000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
4437000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
23668000
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
979000
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
623000
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
979000
CY2023Q2 us-gaap Deferred Revenue
DeferredRevenue
623000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1000000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P4Y4M24D
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
500000
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
900000
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5479000
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4626000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5632000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4351000
CY2024Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
550000
CY2023Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
916000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
688000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1712000
CY2024Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-177000
CY2023Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
63000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-374000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-361000
CY2024Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
75000
CY2023Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
112000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
169000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
209000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5777000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5493000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5777000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5493000
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
820000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
668000
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
50491000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
60733000
CY2024Q2 us-gaap Inventory Net
InventoryNet
51311000
CY2023Q4 us-gaap Inventory Net
InventoryNet
61401000
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1400000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1000000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7487000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7280000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4296000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3822000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3191000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3458000
CY2024Q2 us-gaap Depreciation
Depreciation
300000
CY2023Q2 us-gaap Depreciation
Depreciation
200000
us-gaap Depreciation
Depreciation
500000
us-gaap Depreciation
Depreciation
400000
CY2024Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1133000
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
856000
CY2024Q2 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
1174000
CY2023Q4 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
2514000
CY2024Q2 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
1187000
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
1222000
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
463000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
409000
CY2024Q2 tygo Accrued Warehouse And Freight
AccruedWarehouseAndFreight
795000
CY2023Q4 tygo Accrued Warehouse And Freight
AccruedWarehouseAndFreight
1001000
CY2024Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1674000
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1974000
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
213000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
705000
CY2024Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
6639000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
8681000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4011000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
76000
tygo Accounts Receivable Allowance For Credit Loss Net Charges To Expense Or Revenue
AccountsReceivableAllowanceForCreditLossNetChargesToExpenseOrRevenue
-1301000
CY2023 tygo Accounts Receivable Allowance For Credit Loss Net Charges To Expense Or Revenue
AccountsReceivableAllowanceForCreditLossNetChargesToExpenseOrRevenue
3960000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
140000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
25000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2570000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4011000
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
50000000
CY2023Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
50000000
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
13960000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
18430000
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
36040000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
31570000
CY2024Q2 tygo Amortization Of Debt Issuance Cost Interest Expense
AmortizationOfDebtIssuanceCostInterestExpense
2200000
CY2023Q2 tygo Amortization Of Debt Issuance Cost Interest Expense
AmortizationOfDebtIssuanceCostInterestExpense
1000000
tygo Amortization Of Debt Issuance Cost Interest Expense
AmortizationOfDebtIssuanceCostInterestExpense
4500000
tygo Amortization Of Debt Issuance Cost Interest Expense
AmortizationOfDebtIssuanceCostInterestExpense
1000000
CY2023Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
50000000
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.05
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2026-01-09
us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
interest is payable semiannually.
us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
1200000
us-gaap Debt Conversion Description
DebtConversionDescription
the Convertible Promissory Note may be converted at the option of the note holder into the Company’s common stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company’s capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date.
us-gaap Default Longterm Debt Description Of Violation Or Event Of Default
DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault
The Note Purchase Agreement defines events of default as the occurrence of any one of the following; 1) a default in payment of any part of principal or unpaid accrued interest on the Convertible Promissory Note when due and payable; 2) the Company issues a written statement that it is unable to pay its debts as they become due, or the Company files a voluntary petition for bankruptcy or insolvency proceeding, the Company, or its directors or majority shareholders take action looking to the dissolution or liquidation of the Company; 3) the involuntary bankruptcy of the Company defined as the commencement of any proceeding against the Company seeking any bankruptcy reorganization; 4) the Company defaults on any of its performance obligations under the Note Purchase Agreement; 5) any material portion of the assets of the Company or any subsidiary of the Company is seized or a levy is filed against such assets; 6) a default that remains uncured on any other agreement evidencing the indebtedness of the Company or its subsidiaries for an amount of $10 million or more whose terms allow for the acceleration of the repayment of such indebtedness due to the consummation of the transactions contemplated in this Note Purchase Agreement.
CY2024Q2 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
10000000
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
23500000
tygo Remeasurement Of Fair Value Of Conversion Options
RemeasurementOfFairValueOfConversionOptions
61800000
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
38300000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
38300000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
50000000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
50000000
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of Common Stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
16005552
CY2023Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2024Q2 tygo Common Stock Options Exercises Shares
CommonStockOptionsExercisesShares
0
tygo Common Stock Options Exercises Shares
CommonStockOptionsExercisesShares
0
tygo Stock Options Percentage
StockOptionsPercentage
1.10
CY2024Q2 tygo Common Stock Options Exercises Shares
CommonStockOptionsExercisesShares
0
tygo Common Stock Options Exercises Shares
CommonStockOptionsExercisesShares
0
CY2024Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1703000
CY2023Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
496000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
4208000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
863000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4872527
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.64
CY2023 tygo Sharebased Compensation Arrangement By Sharebased Payment Awards Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardsOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y1M6D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
768837
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
232276
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.74
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
71801
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
2.33
CY2024Q2 tygo Share Based Compensation Arrangement By Shares Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementBySharesBasedPaymentAwardOptionsOutstandingNumber
3799613
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.2
tygo Sharebased Compensation Arrangement By Sharebased Payment Awards Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardsOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y4M9D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1565000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2282733
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.6
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10M28D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1473000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3799613
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.2
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y4M9D
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
7200000
tygo Stock Based Compensation Weightedaverage Period
StockBasedCompensationWeightedaveragePeriod
P2Y9M18D
tygo Expected Dividend Yield Percentage
ExpectedDividendYieldPercentage
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.691
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2024Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P12M
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
314000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
283000
us-gaap Operating Lease Cost
OperatingLeaseCost
648000
us-gaap Operating Lease Cost
OperatingLeaseCost
477000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
148000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
73000
us-gaap Variable Lease Cost
VariableLeaseCost
240000
us-gaap Variable Lease Cost
VariableLeaseCost
135000
CY2024Q2 us-gaap Lease Cost
LeaseCost
462000
CY2023Q2 us-gaap Lease Cost
LeaseCost
356000
us-gaap Lease Cost
LeaseCost
888000
us-gaap Lease Cost
LeaseCost
612000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
126000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1973000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
686000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
399000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
676000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
611000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
450000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
343000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
133000
CY2024Q2 tygo Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
6000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2219000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
150000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2069000
CY2024Q2 us-gaap Goodwill Gross
GoodwillGross
12200000
CY2024Q2 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
2440000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-383000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2057000
CY2023Q4 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
2440000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-248000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2192000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
100000
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
100000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
135000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
270000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
270000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
262000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
260000
CY2024Q2 tygo Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
860000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2057000
CY2023Q3 tygo Income Tax Expense And Valuation Allowances
IncomeTaxExpenseAndValuationAllowances
11100000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10900000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10900000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.328
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.415
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21

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