Tigo Energy, Inc.

Good afternoon. Welcome to Tygo Energy's fiscal third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. Joining us today from Tygo are Zvi Alon, CEO, and Bill Roschlein, CFO. As a reminder, this call is being recorded. I would now like to turn the call over to Bill Roschlein, Chief Financial Officer. You may begin.

Thank you, Operator. It's a pleasure to join you today. Also with us is the Elaner CEO. I'd like to remind everyone that some of the matters we'll discuss on this call, including our expected business outlook, our ability to increase our revenues and become profitable, and our overall long-term growth prospects, expectations regarding recovery in our industry, including the timing thereof, statements about our demand for our products, our competitive position and market share, the impact of tariffs and our current and future inventory levels, charges and reserves, and their impact on future financial results, inventory supply and its impact on our customer shipments, statements about the recovery of the solar industry, statements about our revenue and adjusted EBITDA for the fourth quarter of fiscal 2025, and our revenue for the full fiscal year of 2025, as well as statements about our existing backlog and bookings, statements about the anticipated benefits of our manufacturing and marketing partnership with EG4, and our ability to realize such benefits, as well as our ability to expand market share in the U.S. through power market, our ability to refinance our convertible debt prior to maturity, our ability to obtain funding that's acceptable to fund our working capital needs, Our ability to penetrate new markets and expand our market share, including expansion in international markets, investments in our product portfolio are all forward-looking and as such are subject to known and unknown risks and uncertainties, including but not limited to those factors described in today's press release and discussed in the risk factors section of our most recent annual report on Form 10-K, a quarterly report on Form 10-Q for the fiscal quarter ended September 30, may file with the SEC from time to time. These risks and uncertainties may cause actual results to differ materially from those expressed on this call. These forward-looking statements are made only as of the date one made. During our call today, we will reference certain non-GAAP financial measures. We include non-GAAP to GAAP reconciliations in a press release furnished as an Exhibit 2 or Form 8K. the non-GAAP financial measures should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. Finally, I'd like to remind everyone that this conference call is being webcast and a recording will be made available for replay on Tygo's investor relations website at investors.tygoenergy.com. And with that, I'd like to now turn the call over to our CEO, Zvi Alon. Zvi?

Thank you, Bill. To begin today's discussion, I will highlight key areas in our recent financial and operational performance before turning the call over to our CFO, Bill Roschlein. He will discuss our financial results for the third quarter in more depth, as well as provide our guidance for the fourth quarter of 2025 and updated guidance for the full year of 2025. After that, I will share some closing remarks, tell you about our outlook, and then open the call for questions from the analysts. I'm pleased to report that we entered the third quarter of 2025 with our seventh increase on sequential quarterly revenue growth. Quarter to quarter, we grew more than 27%. And on a year-over-year basis, we grew 115%. We are pleased to see a return to growth similar to what we saw before the industry downturn and believe our top-line growth and market share gains are evidence of the value that Tygo brings to the marketplace. Now to the numbers. In the third quarter of 2025, we reported total revenue of $30.6 million and shipped 795,000 units or 600 megawatts of MLPE. Importantly, we have also returned to GAAP operating profitability for the quarter, which we had guided towards the high end of our estimates on our last quarter call. And for the second time in a row, We are reporting positive adjusted EBITDA. I'm exceptionally proud of what our team here at Tygo has accomplished. To give some geographical color to our results, we saw strong growth in the EMEA and Americas region, which comprise 70% and 26% of our revenue. Noteworthy We performed exceptionally well in the US, as sales grew by approximately 68% sequentially, making it our largest sales region this quarter on a country level. Contributing to this is our sustained effort in the US repower market, where we continue to make significant inroads in this area. During the third quarter, we also announced a domestic manufacturing marketing partnership with EG4 Electronics in the U.S. This partnership will allow Tygo and EG4 to offer an ITC and domestic content bonus tax credit Tygo optimized inverter for the U.S. customers along with the 45X tax credit for Tygo and EG4. Although Analyst expects weakness in the U.S. market next year, we believe this partnership combined with our re-power initiative may mitigate the macro headwinds in the U.S. market and potentially provide significant growth opportunities for us in 2026. And with that, I will turn it over to Bill.