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Tigo Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.9M in Q3 2026 · −$7.7M over twelve months

Operating cash flow$2.0M
Capital spending−$100K
Free cash flow+$1.9M
Cash / net income5.5×
Cash conversion cycle113 days

Analysis

In Q3 2026, Tigo Energy generated $2.0M of operating cash flow and spent $100K on capital projects, leaving free cash flow of $1.9M. That is $414K more than in Q3 2025 ($1.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$6.7M; the largest uses were other financing ($32.1M), operating cash flow ($6.7M), taxes on employees’ shares ($1.5M); besides operations, cash came from other investing ($33.2M), shares issued ($393K); the cash balance fell by $7.7M.

Operating cash flow was $2.0M against net income of $361K — 5.5× profit, cash ran ahead of reported earnings. The largest differences: inventory +$2.4M, receivables −$1.8M, stock-based pay +$1.2M.

Its cash conversion cycle was 113 days (receivables 55 + inventory 137 − payables 79).

Free cash flow

Tigo Energy: free cash flow by quarterTigo Energy: free cash flow by quarter$524KQ4 2024−$530KQ1 2025$7.8MQ2 2025$1.5MQ3 2025$1.2MQ4 2025−$9.5MQ1 2026−$1.3MQ2 2026$1.9MQ3 2026
Operating cash flow less capital spending.
Tigo Energy: operating cash flow against capital spendingTigo Energy: operating cash flow against capital spendingOperating cash flowCapital spending$1.1M$529KQ4 2024−$530K$0Q1 2025$7.8M$0Q2 2025$1.4M−$46KQ3 2025$1.6M$445KQ4 2025−$9.3M$209KQ1 2026−$1.0M$291KQ2 2026$2.0M$100KQ3 2026
Latest (Q3 2026): Operating cash flow $2.0M, Capital spending $100K.

Capital allocation, year by year

Tigo Energy: where the cash came from (up) and went (down), by fiscal yearTigo Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$464KFY2021FY2022: Operating cash flow −$16.5MFY2022: Net borrowing $15.0MFY2022: Shares issued $41.3MFY2022: Capital spending −$1.1M$56.3MFY2022FY2023: Operating cash flow −$37.2MFY2023: Net borrowing $50.0MFY2023: Shares issued $215KFY2023: Capital spending −$2.1MFY2023: Acquisitions −$16K$50.2MFY2023FY2024: Operating cash flow −$12.4MFY2024: Shares issued $272KFY2024: Capital spending −$1.3M$272KFY2024FY2025: Operating cash flow $10.3MFY2025: Net borrowing −$50.2MFY2025: Shares issued $157KFY2025: Capital spending −$642K$10.5MFY2025
Over these 5 years operating cash flow totalled −$56.2M; the largest uses were operating cash flow ($66.5M) and net borrowing ($50.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$32.6M
Debt$97.2M
Net debt$64.6M
Cash runway4.2 years

Tigo Energy is burning cash: its operations consume cash, a free cash flow of −$7.7M a year at the current rate against $32.6M of cash and investments: a runway of about 4.2 years before any new financing.

Where the cash came from and went

Tigo Energy: sources (+) and uses (−) of cash, Q3 2026Tigo Energy: sources (+) and uses (−) of cash, Q3 2026Other financing−$4.2MNet borrowing (+) / repaid (−)$2.5MOperating cash flow$2.0MTaxes on employees’ shares−$436KCash drawn (+) / kept (−)$161KCapital spending−$100KShares issued$14K
Tigo Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Tigo Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$33.2MOther financing−$32.1MCash drawn (+) / kept (−)$7.7MOperating cash flow−$6.7MTaxes on employees’ shares−$1.5MCapital spending−$1.0MShares issued$393K

From profit to cash

Tigo Energy: net income to operating cash flow, Q3 2026Tigo Energy: net income to operating cash flow, Q3 2026Net income$361KDepreciation & amortization$353KStock-based pay$1.2MDeferred taxes−$393KReceivables−$1.8MInventory$2.4MPayables−$126KAccrued liabilities$1.0MDeferred revenue$181KOperating cash flow$2.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265513779113
Q2 20265013475109
Q1 20265017513590
Q4 20254516515952
Q3 20253912411252
Q2 2025391307693
Q1 20254415862140
Q4 20244510631120

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$2.0M−$100K$2.5M$14K$161K$1.9M
Q2 2026−$1.0M−$291K—$240K−$5.3M−$1.3M
Q1 2026−$9.3M−$209K—$28.6M−$3.9M−$9.5M
Q4 2025$1.6M−$445K—$36K$16.8M$1.2M
Q3 2025$1.4M$46K—$10.6M−$14.3M$1.5M
Q2 2025$7.8M——$95K−$1.7M$7.8M
Q1 2025−$530K——$2K$3.2M−$530K
Q4 2024$1.1M−$529K——−$2.3M$524K

Tigo Energy: income statement and cash flow

Tigo Energy, Q3 2026: revenue $24.0M (-22% year over year), operating margin -0.3%. The chart follows the revenue to costs, profit and cash.

Tigo Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.