Tigo Energy reports Q2 EPS (7c), consensus (8c)

Reports Q2 revenue $24.1M, consensus $21.48M. “We are pleased to report a 27.7% sequential increase in quarterly revenues, our sixth in a row, which exceeded the high-end of our guidance,” said Zvi Alon, Chairman and CEO of Tigo. “This performance underscores our ability to gain market share in this challenging environment, driven by strong demand for our innovative MLPE products. Looking ahead, the existing backlog and bookings that are expected to ship in the third quarter currently exceeds our revenue results for the second quarter and we are actively working to restock inventories and ramp capacity in response to increased demand.”