Tigo Energy (TYGO) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Transition Report	false
Entity File Number	001-40710
Entity Registrant Name	Tigo Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-3583873
Entity Address, Address Line One	655 Campbell Technology Parkway
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Campbell
Entity Address, State or Province	CA
Entity Central Index Key	0001855447
Entity Address, Postal Zip Code	95008
City Area Code	408
Local Phone Number	402-0802
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	TYGO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,735,987

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,240,000	$ 36,194,000
Restricted cash		1,523,000
Marketable securities, short-term	34,440,000
Accounts receivable, net allowance for credit losses of $2,018 and $76 at September 30, 2023 and December 31, 2022, respectively	20,358,000	15,816,000
Inventory, net	57,437,000	24,915,000
Deferred issuance costs		2,221,000
Notes receivable		456,000
Prepaid expenses and other current assets	2,775,000	3,967,000
Total current assets	117,250,000	85,092,000
Property and equipment, net	2,763,000	1,652,000
Operating right-of-use assets	2,729,000	1,252,000
Marketable securities, long-term	4,335,000
Intangible assets, net	2,260,000	0
Other assets	725,000	82,000
Goodwill	13,079,000
Total assets	143,141,000	88,078,000
Current liabilities:
Accounts payable	19,492,000	23,286,000
Accrued expenses and other current liabilities (see Note 8)	8,681,000	4,382,000
Deferred revenue, current portion	268,000	950,000
Warranty liability, current portion	542,000	392,000
Operating lease liabilities, current portion	1,162,000	578,000
Current maturities of long-term debt		10,000,000
Total current liabilities	30,145,000	39,588,000
Warranty liability, net of current portion	5,265,000	3,959,000
Deferred revenue, net of current portion	188,000	172,000
Long-term debt, net of current maturities and unamortized debt issuance costs	29,334,000	10,642,000
Operating lease liabilities, net of current portion	1,668,000	762,000
Preferred stock warrant liability		1,507,000
Other long-term liabilities	714,000
Total liabilities	67,314,000	56,630,000
Convertible preferred stock: 10,000,000 and 47,484,663 shares authorized; zero and 46,467,565 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively		87,140,000
Commitments and Contingencies (Note 10)
Stockholders' equity (deficit):
Common stock, $0.0001 par value: 150,000,000 and 60,667,100 shares authorized, respectively; 58,733,366 and 5,469,921 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	6,000	1,000
Additional paid-in capital	136,983,000	6,522,000
Accumulated deficit	(61,006,000)	(62,215,000)
Accumulated other comprehensive loss	(156,000)
Total stockholders' equity (deficit)	75,827,000	(55,692,000)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	$ 143,141,000	$ 88,078,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net for allowance of credit losses (in Dollars)	$ 2,018	$ 76
Convertible preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock shares, authorized	10,000,000	47,484,663
Convertible preferred stock shares issued	0	46,467,565
Convertible preferred stock shares, outstanding	0	46,467,565
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	150,000,000	60,667,100
Common stock issued (in Shares)	58,733,366	5,469,921
Common stock, outstanding	58,733,366	5,469,921

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations and Comprehensive Income (Loss) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue, net	$ 17,104,000	$ 22,824,000	$ 135,988,000	$ 50,382,000
Cost of revenue	12,946,000	16,236,000	87,555,000	35,579,000
Gross profit	4,158,000	6,588,000	48,433,000	14,803,000
Operating expenses:
Research and development	2,425,000	1,621,000	7,063,000	4,476,000
Sales and marketing	5,601,000	3,007,000	15,536,000	7,348,000
General and administrative	7,350,000	4,053,000	20,567,000	6,034,000
Total operating expenses	15,376,000	8,681,000	43,166,000	17,858,000
(Loss) income from operations	(11,218,000)	(2,093,000)	5,267,000	(3,055,000)
Other expenses (income):
Change in fair value of preferred stock warrant and contingent shares liability	(2,977,000)	(45,000)	143,000	(37,000)
Change in fair value of derivative liability	(50,498,000)		(12,247,000)
Loss on debt extinguishment			171,000	3,613,000
Interest expense	2,875,000	392,000	5,240,000	1,241,000
Other (income) expense, net	(636,000)	(19,000)	(1,859,000)	68,000
Total other (income) expenses, net	(51,236,000)	328,000	(8,552,000)	4,885,000
Income (loss) before income tax expense	40,018,000	(2,421,000)	13,819,000	(7,940,000)
Income tax expense	10,962,000	0	29,000	0
Net income (loss)	29,056,000	(2,421,000)	13,790,000	(7,940,000)
Cumulative dividends on convertible preferred stock		(2,102,000)	(3,399,000)	(4,242,000)
Net income (loss) attributable to common stockholders	29,056,000	(4,523,000)	10,391,000	(12,182,000)
Unrealized gain (loss) resulting from change in fair value of marketable securities	22,000		(159,000)
Comprehensive income (loss)	$ 29,078,000	$ (2,421,000)	$ 13,631,000	$ (7,940,000)
Earnings (loss) per common share
Basic	$ 0.5	$ (0.92)	$ 0.19	$ (2.51)
Diluted	$ (0.27)	$ (0.92)	$ 0.04	$ (2.51)
Weighted-average common shares outstanding
Basic	58,408,441	4,908,232	31,070,476	4,852,696
Diluted	68,368,758	4,908,232	40,487,517	4,852,696

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Changes In Stockholders' Equity (Deficit) - USD ($) $ in Thousands		Total	Convertible Preferred Stock	Preferred Stock Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Notes Receivable from Related Parties	Accumulated Deficit	Accumulated Comprehensive Income
Balance, before retroactive conversion		$ (49,896)		$ 46,370	$ 2	$ 5,383	$ (103)	$ (55,178)
Retroactive application					$ (1)	1
Retroactive application, shares	[1]			(126,942,949)	(15,778,049)
Balance, before retroactive conversion, shares	[1]			165,578,120	20,580,109
Beginning balance at Dec. 31, 2021		(49,896)		$ 46,370	$ 1	5,384	(103)	(55,178)
Beginning balance, shares at Dec. 31, 2021	[1]			38,635,171	4,802,060
Issuance of common stock upon exercise of stock options		17				17
Issuance of common stock upon exercise of stock options, shares	[1]				26,797
Stock-based compensation expense		26				26
Net income (loss)		(5,697)						(5,697)
Ending balance, shares at Mar. 31, 2022	[1]			38,635,171	4,828,857
Ending balance at Mar. 31, 2022		(55,550)		$ 46,370	$ 1	5,427	(103)	(60,875)
Beginning balance at Dec. 31, 2021		(49,896)		$ 46,370	$ 1	5,384	(103)	(55,178)
Beginning balance, shares at Dec. 31, 2021	[1]			38,635,171	4,802,060
Net income (loss)		(7,940)
Ending balance, shares at Sep. 30, 2022	[1]			46,467,565	5,046,444
Ending balance at Sep. 30, 2022		(57,324)		$ 87,210	$ 1	5,896	(103)	(63,118)
Beginning balance at Mar. 31, 2022		(55,550)		$ 46,370	$ 1	5,427	(103)	(60,875)
Beginning balance, shares at Mar. 31, 2022	[1]			38,635,171	4,828,857
Issuance of common stock upon exercise of stock options		6				6
Issuance of common stock upon exercise of stock options, shares	[1]				9,850
Stock-based compensation expense		26				26
Proceeds from sale of Series E, net of issuance costs				$ 21,712
Proceeds from sale of Series E, net of issuance costs, shares	[1]			4,175,321
Net income (loss)		178						178
Ending balance, shares at Jun. 30, 2022	[1]			42,810,492	4,838,707
Ending balance at Jun. 30, 2022		(55,340)		$ 68,082	$ 1	5,459	(103)	(60,697)
Issuance of common stock upon exercise of stock options		96				96
Issuance of common stock upon exercise of stock options, shares	[1]				207,738
Stock-based compensation expense		341				341
Proceeds from sale of Series E, net of issuance costs				$ 19,128
Proceeds from sale of Series E, net of issuance costs, shares	[1]			3,657,073
Net income (loss)		(2,421)						(2,421)
Ending balance, shares at Sep. 30, 2022	[1]			46,467,565	5,046,444
Ending balance at Sep. 30, 2022		(57,324)		$ 87,210	$ 1	5,896	$ (103)	(63,118)
Balance before retroactive application of recapitalization		(55,692)		$ 87,140	2	6,521		(62,215)
Retroactive application					$ (1)	1
Retroactive application, shares	[1]		(152,677,720)		(17,972,432)
Balance before retroactive application of recapitalization, shares	[1]			199,145,285	23,442,353
Beginning balance at Dec. 31, 2022		(55,692)		$ 87,140	$ 1	6,522		(62,215)
Beginning balance, shares at Dec. 31, 2022	[1]			46,467,565	5,469,921
Issuance of common stock upon exercise of stock options		92				92
Issuance of common stock upon exercise of stock options, shares	[1]				140,545
Stock-based compensation expense		366				366
Issuance of common stock in connection with the acquisition of fSight, shares	[1]				1,306,385
Issuance of common stock in connection with the acquisition of fSight		10,077				10,077
Unrealized gain (loss) resulting from change in fair value of marketable securities		14							$ 14
Stock Issued During Period, Shares, Acquisitions	[1]				1,306,385
Net income (loss)		6,910						6,910
Ending balance, shares at Mar. 31, 2023	[1]			46,467,565	6,916,851
Ending balance at Mar. 31, 2023		(38,233)		$ 87,140	$ 1	17,057		(55,305)	14
Beginning balance at Dec. 31, 2022		(55,692)		$ 87,140	$ 1	6,522		(62,215)
Beginning balance, shares at Dec. 31, 2022	[1]			46,467,565	5,469,921
Conversion of convertible preferred stock into common stock in connection with the Business Combination		87,140	$ (87,140)		$ 5	87,135
Conversion of convertible preferred stock into common stock in connection with the Business Combination, shares	[1]		(47,918,992)		47,918,992
Ending balance, shares at Jun. 30, 2023	[1]				58,144,543
Ending balance at Jun. 30, 2023		30,434			$ 6	120,671		(90,062)	(181)
Beginning balance at Dec. 31, 2022		$ (55,692)		$ 87,140	$ 1	6,522		(62,215)
Beginning balance, shares at Dec. 31, 2022	[1]			46,467,565	5,469,921
Issuance of common stock upon exercise of stock options, shares		415,615
Issuance of preferred stock upon exercise of preferred warrants		$ 2,008
Net income (loss)		13,790
Ending balance, shares at Sep. 30, 2023	[1]				58,733,366
Ending balance at Sep. 30, 2023		75,827			$ 6	136,983		(61,006)	(156)
Beginning balance at Mar. 31, 2023		(38,233)		$ 87,140	$ 1	17,057		(55,305)	14
Beginning balance, shares at Mar. 31, 2023	[1]			46,467,565	6,916,851
Issuance of common stock upon exercise of stock options		14				14
Issuance of common stock upon exercise of stock options, shares	[1]				10,784
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes		(91)				(91)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes, shares	[1]				(11,832)
Stock-based compensation expense		497				497
Unrealized gain (loss) resulting from change in fair value of marketable securities		(195)							(195)
Convertible preferred stock dividends, shares	[1]			1,258,055
Convertible preferred stock dividends						12,581		(12,581)
Issuance of preferred stock upon exercise of preferred warrants		2,008				2,008
Issuance of preferred stock upon exercise of preferred warrants, shares	[1]			193,372
Issuance of common stock upon exercise of common warrants, shares	[1]				1,491,229
Purchase price adjustment in connection with the fSight acquisition		897				897
Issuance of common stock upon Business Combination, shares	[1]				1,818,519
Issuance of common stock upon Business Combination, value		573				573
Net income (loss)		(22,176)						(22,176)
Ending balance, shares at Jun. 30, 2023	[1]				58,144,543
Ending balance at Jun. 30, 2023		30,434			$ 6	120,671		(90,062)	(181)
Issuance of common stock upon exercise of stock options		106				106
Issuance of common stock upon exercise of stock options, shares	[1]				264,277
Issuance of common stock upon exercise of common stock warrants, net of issuance costs and payments to warrant holders of non-redeemed warrants		3,653				3,653
Issuance of common stock upon exercise of common stock warrants, net of issuance costs and payments to warrant holders of non-redeemed warrants, shares	[1]				324,546
Reclassification of convertible note derivative liability to equity		11,279				11,279
Stock-based compensation expense		1,274				1,274
Unrealized gain (loss) resulting from change in fair value of marketable securities		25							25
Net income (loss)		29,056						29,056
Ending balance, shares at Sep. 30, 2023	[1]				58,733,366
Ending balance at Sep. 30, 2023		$ 75,827			$ 6	$ 136,983		$ (61,006)	$ (156)
[1] The shares of the Company’s common and redeemable convertible preferred stock prior to the Business Combination (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 0.233335 established in the Business Combination as described in Note 3.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock and Changes In Stockholders' Equity (Deficit) (Parenthetical)	3 Months Ended						9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Business acquisition shares exchange ratio	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating activities:
Net income (loss)	$ 13,790	$ (7,940)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	820	404
Reserve for inventory obsolescence	796
Change in fair value of preferred stock warrant and contingent shares liability	143	(37)
Change in fair value of derivative liability	(12,247)
Deferred tax benefit	(12)
Non-cash interest expense	3,237	206
Stock-based compensation	2,137	393
Allowance for credit losses	1,968	200
Loss on debt extinguishment	171	3,613
Non-cash lease expense	710
Accretion of interest on marketable securities	(333)
Loss on disposal of property and equipment	16
Changes in operating assets and liabilities:
Accounts receivable	(6,393)	(10,811)
Inventory	(33,318)	(1,965)
Prepaid expenses and other assets	1,183	(4,573)
Accounts payable	(4,115)	6,333
Accrued expenses and other liabilities	1,975	555
Deferred revenue	(666)	(15)
Warranty liability	1,456	524
Deferred rent		(135)
Operating lease liabilities	(697)
Net cash used in operating activities	(29,379)	(13,248)
Investing activities:
Purchase of marketable securities	(53,483)
Acquisition of fSight	(16)
Purchase of intangible assets	(450)
Purchase of property and equipment	(1,855)	(662)
Sales and maturities of marketable securities	14,885
Net cash used in investing activities	(40,919)	(662)
Financing activities:
Proceeds from Convertible Promissory Note	50,000	25,000
Repayment of Series 2022-1 Notes	(20,833)	(2,500)
Repayment of Senior Bonds		(10,000)
Payment of financing costs	(358)	(3,472)
Proceeds from sale of Series E convertible preferred stock		40,978
Proceeds from Business Combination	2,238
Proceeds from exercise of stock options	212	119
Payment of tax withholdings on stock options	(91)
Payment of Series E convertible preferred stock issuance costs		(138)
Proceeds from common stock warrant redemption, net of issuance costs and payments to warrant holders of non-redeemed warrants	3,653
Net cash provided by financing activities	34,821	49,987
Net (decrease) increase in cash and restricted cash	(35,477)	36,077
Cash, cash equivalents, and restricted cash at beginning of period	37,717	7,474
Cash, cash equivalents, and restricted cash at end of period	2,240	43,551
Supplemental disclosure of cash flow information:
Cash paid for interest	168	1,035
Cash paid for income taxes	48	51
Supplemental schedule of non-cash investing and financing activities:
Net assets acquired from ROCG	573
Operating lease right of use assets obtained in exchange for operating lease liabilities	2,187
Property plant and equipment in accounts payable	38	$ 436
Non-cash consideration paid for the acquisition of fSight	10,974
Contingent shares liability from fSight acquisition	2,167
Fair value of derivative note liability at issuance	23,525
Dividends on Series D and Series E convertible preferred stock	12,581
Reclassification of deferred issuance costs to additional paid in capital	2,221
Conversion of convertible preferred stock into common stock in connection with the Business Combination (Note 3)	87,140
Issuance of preferred stock upon exercise of preferred warrants	2,008
Unrealized loss resulting from change in fair value of marketable securities	(156)
Reclassification of convertible note derivative liability to equity	$ 11,278

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Tigo Energy, Inc. (f/k/a Roth CH Acquisition IV Co.) (the “Company” or “Tigo”) consists of Tigo Energy, Inc., 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) Company, Limited 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. 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, Australia, and the Middle East. Entry into a Material Definitive Agreement 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.” Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination. Basis of Presentation 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”). 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 Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination. Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination. 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 September 30, 2023 and its condensed consolidated statements of operations and comprehensive income (loss), cash flows, and convertible preferred stock and stockholders’ equity (deficit) for the three and nine months ended September 30, 2023 and 2022. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023. 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, 2022, has been derived from the audited consolidated balance sheet as of that date. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes thereto for the year ended December 31, 2022 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company's significant accounting policies are described in Note 2 to its audited consolidated financial statements for the year ended December 31, 2022, which are included in the Company's Form S-1 filed with the SEC on June 22, 2023. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (JOBS Act). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Basis of Consolidation The condensed consolidated financial statements include the accounts of Tigo and its wholly-owned subsidiaries: Tigo Energy Israel Ltd. and Foresight Energy, Ltd. (“fSight”), both of which are incorporated in Israel, in addition to Tigo Energy Italy SRL, Tigo Energy Systems Trading (Suzhou) Company, Limited and Tigo Energy Australia Pty Limited which are incorporated in Italy, China and Australia, respectively. All intercompany transactions and balances have been eliminated in consolidation. The Company has determined the functional currency of the subsidiaries to be the United States (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) expense, net in the condensed consolidated statements of operations and comprehensive income (loss) and were not material for the three and nine months ended September 30, 2023 . Use of Estimates 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, the determination of the incremental borrowing rate for operating leases, provisions for warranty and expected credit losses, inventory obsolescence, sales returns, future price concessions, fair value of the derivative liability and tax contingencies and valuation allowances as well 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. Reclassification Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period's presentation as follows. Customer deposits in previous periods were recorded in other accrued liabilities within the condensed consolidated balance sheet. Customer deposits are now recorded in deferred revenue, current portion and deferred revenue, net of current portion within the condensed consolidated balance sheet. Marketable Securities The Company’s marketable securities consist of investments in U.S. agency securities and corporate bonds that are classified as available-for-sale. The securities are carried at fair value with the unrealized gains and losses included in other comprehensive loss, a component of stockholders’ equity (deficit). Realized gains, losses, and declines in value determined to be other than temporary are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss). If any adjustment to fair value reflects a decline in the value of the investment that the Company considers to be “other than temporary,” the Company would reduce the investment to fair value through a charge to the condensed consolidated statements of operations and comprehensive income (loss). No such adjustments were necessary during the periods presented. Business Combinations The Company accounts for business combinations under ASC Topic 805, Business Combinations , using the acquisition method of accounting, and accordingly, the assets and liabilities of the acquired business are recorded at their fair values at the date of acquisition. The fair values assigned, defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants, are based on estimates and assumptions determined by management. These valuations require the Company to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired customer relationships and developed technology, royalty rates, and discount rates. The Company records the excess consideration over the aggregate fair value of tangible and intangible assets, net of liabilities assumed, as goodwill. All acquisition costs are expensed as incurred. Upon acquisition, the accounts and results of operations are included as of and subsequent to the acquisition date. If the initial accounting for a business combination is incomplete by the end of a reporting period that falls within the measurement period, the Company reports provisional amounts in the condensed consolidated financial statements. During the measurement period, the provisional amounts recognized at the acquisition date will be adjusted to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date and the Company records those adjustments in the condensed consolidated financial statements. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired in addition to liabilities assumed arising from the acquisition of fSight. Initially the Company measures goodwill based upon the value of the consideration paid plus or minus net assets assumed. The goodwill arising from the Company's acquisition is attributable to the value of the potential expanded market opportunity with new customers. Intangible assets have either an identifiable or indefinite useful life. Intangible assets are recorded at cost or when acquired as part of a business combination at estimated fair value. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, whichever is shorter. The Company's amortizable intangible assets consist primarily of patents, developed technology, and customer relationships. The useful life of these intangible assets ranges from 4 to 10 years. Goodwill is not amortized but is subject to annual impairment testing unless circumstances dictate more frequent assessments. The Company will perform an annual impairment assessment for goodwill and more frequently whenever events or changes in circumstances indicate that the fair value of the asset may be less than the carrying amount. Convertible Promissory Note On January 9, 2023, the Company entered into a convertible promissory note purchase agreement (the “Note Purchase Agreement”) with L1 Energy Capital Management S.a.r.l (“L1 Energy”) pursuant to which the Company issued a convertible promissory note in an aggregate principal amount of $ 50.0 million (the “Convertible Promissory Note”). The Company analyzes its convertible debt instruments for embedded attributes that may require bifurcation from the host and accounted for as derivatives. At the inception of each instrument, in the event of a modification of a debt agreement, and at each reporting date, the Company performs an analysis of the embedded features requiring bifurcation and may elect, if eligible, to account for the entire debt instrument at fair value. If the fair value option were to be elected, any changes in fair value would be recognized in the accompanying statements of operations until the instrument is settled. Under the terms of the Note Purchase Agreement, the Convertible Promissory Note may be converted at the option of the noteholder into shares of Common Stock or an equivalent equity instrument resulting from a public company event. As a result of the Business Combination, the conversion options were bifurcated and accounted for as derivatives. The derivative instrument was recorded at fair value upon recognition and was subject to remeasurement to fair value at each balance sheet date, with any changes in estimated fair value recognized in the accompanying consolidated statements of operations and comprehensive income (loss). On September 24, 2023, the Company and L1 Energy entered into an Amendment to Note Purchase Agreement and Convertible Promissory Note (the “Convertible Note Amendment”) which amended the conversion terms and, as a result of such amendment, the conversion options no longer met the requirements to be bifurcated in accordance with ASC Topic 815, Derivatives and Hedging . The carrying value of the convertible note derivative liability was remeasured to fair value immediately prior to the execution of the Convertible Note Amendment and the change in fair value was recorded to the Company's condensed consolidated statements of operations and comprehensive income (loss). The carrying value of the convertible note derivative liability was reclassified to equity and was recorded into additional paid-in capital on the Company’s condensed consolidated balance sheet. Please refer to Note 6 “Fair Value of Financial Instruments” for further details regarding the fair value of the derivative instrument. In addition, please refer Note 9 “Long-Term Debt” for additional details regarding the Convertible Promissory Note and derivative instrument. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (ASC 326). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. This standard is effective for fiscal years beginning after December 15, 2022. The Company adopted the guidance using the modified retrospective approach as of January 1, 2023, which resulted in no cumulative effect adjustment to accumulated deficit and did not have a material impact on the Company’s condensed consolidated financial statements as of the date of adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires a lessee to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The standard is effective for the Company for reporting periods beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted annual reporting the guidance using the modified retrospective approach to apply the standard as of January 1, 2022, with no retrospective adjustments to prior periods on the Company’s annual consolidated financial statements and related notes thereto for the year ended December 31, 2022. As permitted under the new guidance, the Company elected the package of practical expedients, which allowed the Company to retain prior conclusions regarding lease identification, classification and initial direct costs. For the Company’s lease agreements with lease and non-lease components, the Company elected the practical expedient to account for these as a single lease component for all underlying classes of assets. Additionally, for short-term leases with an initial lease term of 12 months or less and with purchase options the Company is not reasonably certain will be exercised, the Company elected to not record ROU assets or corresponding lease liabilities on the Company’s consolidated balance sheet. See Note 13, “ Leases ” for additional information on the Company's leases following the adoption of this standard. In August 2020, the FASB issued ASU No. 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06). The goal of the ASU 2020-06 is to simplify the complexity associated with applying GAAP for certain financial instruments with characteristics of liabilities and equity. More specifically, the amendments focus on the guidance for convertible instruments and derivative scope exception for contracts in an entity’s own equity. The new standard is effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021. For all other entities, the standard is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Entities may adopt the guidance through either a modified retrospective method or full retrospective method. The Company adopted ASU 2020-06 on January 1, 2023, and determined the impact upon adoption to the consolidated financial statements is immaterial. In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ” ASU 2019-12 removes specific exceptions to the general principles in ASC Topic 740, “Accounting for Income Taxes” (“Topic 740”) and simplifies certain GAAP requirements. ASU 2019-12 is effective for non-public business entities' interim periods within those fiscal years, beginning after December 15, 2022. Depending on the amendment, adoption may be applied on a retrospective, modified retrospective or prospective basis. The Company adopted ASU 2019-12 on January 1, 2022, and determined the impact upon adoption to the consolidated financial statements is immaterial.

Merger with Roth CH Acquisition

Merger with Roth CH Acquisition IV Co.	9 Months Ended
	Sep. 30, 2023
Roth CH Acquisition IV Co.
Business Acquisition [Line Items]
Merger with Roth CH Acquisition IV Co.	3. Merger with Roth CH Acquisition IV Co. The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, ROCG was treated as the “acquired” company and Legacy Tigo was considered the “acquirer” for financial reporting purposes. This determination was primarily based on Legacy Tigo stockholders comprising a majority of the voting power of the Company, Legacy Tigo’s senior management comprising substantially all of the senior management of the Company, Legacy Tigo’s relative size compared to ROCG, and Legacy Tigo’s operations prior to the acquisition comprising the only ongoing operations of the Company. Accordingly, for accounting purposes, the financial statements of the Company represent a continuation of the financial statements of Legacy Tigo with the Business Combination being 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 costs, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are presented as those of Legacy Tigo. All periods prior to the Business Combination have been retrospectively adjusted using the exchange ratio established in the Business Combination of 0.233335 (the “Exchange Ratio”) to affect the reverse recapitalization. As part of the reverse recapitalization, Legacy Tigo acquired $ 2.2 million of cash, $ 0.6 million of prepaid expenses and insurance and assumed $ 3,400 of accrued expenses and $ 61,000 of income tax payable. The Company incurred $ 6.1 million in transaction costs relating to the Business Combination, which were charged directly to additional paid-in capital to the extent of cash received. Transaction costs in excess of cash acquired of $ 3.9 million were charged to general and administrative expenses. Immediately prior to the closing of the Business Combination: • all shares of Legacy Tigo’s outstanding Series E, Series D, Series C-1, Series C, Series B-4, Series B-3, Series B-2, Series B-1, Series A-4, Series A-3, Series A-2, and Series A-1 convertible preferred stock were converted into an equivalent number of shares of Legacy Tigo common stock on a one-to-one basis and additional shares of Legacy Tigo common stock were issued to settle the accumulated dividend to the Series E and Series D convertible preferred stockholders of $ 12.6 million; • all common warrants net of exercise were converted into an equivalent number of shares of Legacy Tigo common stock on a one-to-one basis; and • all preferred warrants net of exercise were converted into an equivalent number of shares of Legacy Tigo preferred stock on a one-to-one basis, and subsequently converted into an equivalent number of shares of Legacy Tigo common stock on a one-to-one basis. At the effective time of the Business Combination, each share of Legacy Tigo common stock issued and outstanding immediately prior to the closing (including the shares of Legacy Tigo common stock issued in connection with the foregoing) were canceled and converted into the right to receive a pro rata portion of the merger consideration based on the Exchange Ratio. Immediately following the Business Combination, there were 58,144,543 shares of Common Stock issued and outstanding, options to purchase an aggregate of 4,358,301 shares of Common Stock and 5,768,750 warrants outstanding to purchase shares of Common Stock.

Acquisition of Foresight Energy

Acquisition of Foresight Energy, Ltd.	9 Months Ended
	Sep. 30, 2023
fSight
Business Acquisition [Line Items]
Acquisition of Foresight Energy, Ltd.	4. Acquisition of Foresight Energy, Ltd. On January 25, 2023 (“Acquisition Closing Date”), Legacy Tigo acquired 100 % of the equity interests of fSight. The results of fSight’s operations have been included in the condensed consolidated financial statements since the Acquisition Closing Date. fSight primarily focuses on developing and marketing a software as a service platform, based on artificial intelligence for the smart management of electrical energy. The acquisition expands the Company’s ability to leverage energy consumption and production data for solar energy producers, adding a prediction platform that provides actionable system performance data, from the grid down to the module level. Under the terms of the purchase agreement, total consideration amounted to $ 13.1 million which consisted of 5,598,751 shares of Legacy Tigo's common stock issued at closing with a fair value of approximately $ 11.0 million, 172,022 shares of Legacy Tigo's common stock with a fair value of approximately $ 1.4 million to be issued 12 months from closing and 86,011 shares of Legacy Tigo's common stock with a fair value of approximately $ 0.7 million to be issued 18 months from closing (collectively with the shares to be issued at 12 months “Contingent Shares”). Pursuant to the terms of the purchase agreement, the Contingent Shares are subject to adjustment based on certain indemnification obligations, liabilities or settlements that may arise during the contingency period, which ends 18 months following the Acquisition Closing Date. In addition to the consideration in the purchase agreement, there is an additional $ 0.5 million in consideration related to a loan that the Company issued to fSight prior to the Acquisition Closing Date, for a total consideration transferred of $ 13.7 million. The loan payable was deemed settled immediately following the Acquisition Closing Date. The contingent shares were recorded as a liability at a fair value of approximately $ 2.1 million on the Acquisition Closing Date based on the fair value of Legacy Tigo's common stock at the Acquisition Closing Date. The contingent shares liability is recorded in accrued expenses and other current liabilities within the condensed consolidated balance sheet. At September 30, 2023, the liability was revalued to $ 1.8 million based upon the Company's common stock fair value per share on September 30, 2023. The $ 3.0 million and $ 0.4 million gain on mark to market was recorded in the change in fair value of preferred stock warrant and contingent shares liability financial statement line item within the condensed consolidated statement of operation and comprehensive income (loss) for the three and nine months ended September 30, 2023, respectively. The transaction was accounted for as a business combination pursuant to ASC Topic 805, Business Combinations , using the acquisition method of accounting and in conjunction with the acquisition, Legacy Tigo recognized $ 47,000 and $ 0.2 million of acquisition-related costs during the three and nine months ended September 30, 2023, which were expensed as incurred and are recorded in general and administrative expenses on the condensed consolidated statement of operations and comprehensive income (loss). The following table summarizes the provisional fair values of the identifiable assets acquired and liabilities assumed at the date of the acquisition: (in thousands) At January 25, 2023 Consideration transferred (1) : Fair value of common stock issued $ 10,974 Fair value of contingent shares 2,167 Deemed settlement of loan payable 527 Total consideration $ 13,668 Assets Acquired Cash and cash equivalents $ 55 Accounts receivable 117 Property and equipment 9 Developed technology 1,820 Customer relationships 170 Goodwill 13,079 Total assets acquired $ 15,250 Liabilities Assumed Accounts payable $ 418 Accrued expenses 294 Other current liabilities 89 Other long-term liabilities 781 Net assets acquired $ 13,668 (1) The reported provisional amounts presented above have been updated from the Company's S-1 filed with the SEC on June 22, 2023. The Company recorded an out of period adjustment related to the adjustment of the provisional fair market value of the Legacy Tigo common stock that was used to develop the calculation of the purchase price consideration. The Company does not believe that the adjustment had a material impact on its condensed consolidated statements of operations and comprehensive income (loss), condensed consolidated balance sheets, or condensed consolidated statements of cash flows in any periods previously reported. The amounts above represent the Company’s provisional fair value estimates related to the acquisition as of January 25, 2023, and are subject to subsequent adjustments as additional information is obtained during the applicable measurement period. The primary areas of estimates that are not yet finalized include certain tangible assets acquired and liabilities assumed, as well as the identifiable intangible assets. The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based on their acquisition date estimated fair values. Accounts receivable and property and equipment acquired were not material in size or scope, and the carrying amounts of these assets represented their fair value. The identifiable intangible assets consist of developed technology and customer relationships which were assigned fair values of approximately $ 1.8 million and $ 0.2 million, respectively. The developed technology and customer relationships are both being amortized on a straight-line basis over 10 years. Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired in addition to liabilities assumed arising from the business combination. The Company believes the goodwill related to the acquisition was attributable to the expected synergies, value of the assembled workforce, and the collective experience of the management team with regards to its operations, customers, and industry. As a non-taxable stock acquisition, the value attributable to the acquired intangibles and goodwill are not tax deductible. Supplemental Pro Forma Information (Unaudited) The following table presents supplemental pro-forma information for the three and nine months ended September 30, 2023, and 2022 as if the merger with fSight had occurred on January 1, 2022. These amounts have been calculated after applying the Company's accounting policies and are based upon currently available information. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Revenue, net $ 17,104 $ 22,900 $ 136,056 $ 50,580 Net income (loss) $ 29,056 $ ( 2,466 ) $ 13,644 $ ( 8,154 ) Supplemental Information of Operating Results For the three months ended September 30, 2023, the Company’s condensed consolidated statement of operations included revenue, net of $ 0.2 million and a net loss of $ 0.4 million attributable to fSight. For the nine months ended September 30, 2023, the Company’s condensed consolidated statement of operations included revenue, net of $ 0.4 million and a net loss of $ 0.9 million attributable to fSight.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	5. Net Income (Loss) Per Share Basic net income (loss) per share of common stock is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during each period, without consideration for potential dilutive shares of common stock. Diluted net income (loss) per share of common stock is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method and if-converted method, as applicable. Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities, which include convertible preferred stock. Under the two-class method, net income (loss) is adjusted by the difference between the fair value of consideration transferred and the carrying amount of convertible preferred stock during periods where the Company redeems its convertible preferred stock. The remaining earnings (undistributed earnings) are allocated to common stock and each series of convertible preferred stock to the extent that each preferred security may share in earnings as if all of the earnings for the period had been distributed. The total earnings allocated to common stock is then divided by the number of outstanding shares to which the earnings are allocated to determine the earnings per share. The two-class method is not applicable during periods with a net loss, as the holders of the convertible preferred stock have no obligation to fund losses. In periods in which the Company reports a net loss, diluted net loss per share is the same as basic net loss per share since dilutive shares are not assumed to have been issued if their effect is antidilutive. As a result, for the periods in which the Company experienced a net loss, the weighted-average shares used to calculate both basic and diluted net loss per share are the same. The following table sets forth the computation of basic and diluted net income (loss) per share to common stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2023 2022 2023 2022 Basic net income (loss) per common share calculation: Net income (loss) attributable to common stockholders $ 29,056 $ ( 4,523 ) $ 10,391 $ ( 12,182 ) Undistributed earnings to preferred stock stockholders — — ( 4,574 ) — Net income (loss) attributable to common stockholders – basic $ 29,056 $ ( 4,523 ) $ 5,817 $ ( 12,182 ) Weighted-average shares of common stock outstanding – basic 58,408,441 4,908,232 31,070,476 4,852,696 Net income (loss) per share of common stock – basic $ 0.50 $ ( 0.92 ) $ 0.19 $ ( 2.51 ) Diluted net income (loss) per common share calculation: Net income (loss) attributable to common stockholders $ 29,056 $ ( 4,523 ) $ 10,391 $ ( 12,182 ) Reverse: interest expense and change in fair value on derivative liability ( 47,623 ) — ( 7,196 ) — Net (loss) income attributable to common stockholders ( 18,567 ) ( 4,523 ) 3,195 ( 12,182 ) Undistributed earnings to preferred stock stockholders — — ( 1,406 ) — Net (loss) income attributable to common stockholders – diluted $ ( 18,567 ) $ ( 4,523 ) $ 1,789 $ ( 12,182 ) Weighted-average shares of common stock outstanding – basic 58,408,441 4,908,232 31,070,476 4,852,696 Outstanding options and restricted stock units 3,727,831 — 3,472,940 — Legacy Tigo warrants and common stock warrants 927,049 — 813,569 — Convertible promissory note 5,305,437 — 5,130,532 — Weighted-average shares of common stock – diluted 68,368,758 4,908,232 40,487,517 4,852,696 Net (loss) income per share of common stock – diluted $ ( 0.27 ) $ ( 0.92 ) $ 0.04 $ ( 2.51 ) The Company excluded the effect of the below elements from our calculation of diluted income (loss) per share, as their inclusion would have been anti-dilutive. These amounts represent the number of instruments outstanding at the end of the period. As of September 30, 2023 2022 Convertible preferred stock — 46,467,565 Convertible preferred stock warrants — 248,372 Common stock warrants — 1,915,372 Stock options — 4,529,882 — 53,161,191

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments Fair Value Measurements The Company measures its financial assets and liabilities at fair value on a recurring basis using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Authoritative guidance establishes three levels of the fair value hierarchy as follows: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and Level 3: Fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: Fair value measurement at (in thousands) (Level 1) (Level 2) (Level 3) (1) September 30, 2023 Assets: Cash equivalents: Money market accounts $ 108 $ — $ — Marketable securities: Corporate bonds $ — $ 20,377 $ — U.S. agency securities $ — $ 18,398 $ — Liabilities: Contingent shares liability from fSight acquisition $ 1,809 $ — $ — December 31, 2022 Liabilities: Preferred stock warrant liability $ — $ — $ 1,507 (1) The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability. The following is a summary of the changes in fair value of the Company’s marketable securities as of September 30, 2023: (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 17,362 $ 3 $ ( 80 ) $ 17,285 U.S. agency securities 17,186 — $ ( 31 ) 17,155 Total 34,548 3 ( 111 ) 34,440 Long-term assets Corporate bonds 3,133 — ( 41 ) 3,092 U.S. agency securities 1,250 — ( 7 ) 1,243 Total 4,383 — ( 48 ) 4,335 Total available-for-sale marketable securities $ 38,931 $ 3 $ ( 159 ) $ 38,775 As of September 30, 2023, available-for-sale securities consisted of investments that mature within approximately one to two years. The fair value of the preferred stock warrants was calculated using the Black-Scholes option pricing model and is revalued to fair value at the end of each reporting period until the earlier of the exercise or expiration of the preferred stock warrants. As a part of the Business Combination, Legacy Tigo preferred stock warrants were converted into the Legacy Tigo common stock at the conversion rate in effect immediately prior to the consummation of the Business Combination. Please see Note 3, “Merger with Roth CH Acquisition IV Co.” for additional information. The fair value of the warrant liabilities was estimated using the Black-Scholes option pricing model using the following assumptions: May 23, 2023 As of December 31, Expected volatility 68 % - 70 % 70 % - 76 % Risk-free interest rate 4.10 % - 4.28 % 4.22 % - 4.34 % Expected term (in years) 2.0 - 2.6 2.4 - 3.0 Expected dividend yield — — Fair value of Series C convertible preferred stock $ 1.89 $ 1.82 The table presented below is a summary of the changes in fair value of the Company’s preferred stock warrant liability which was exercised immediately prior to the Business Combination into Legacy Tigo preferred stock and subsequently converted into Legacy Tigo common stock. Upon the consummation of the Business Combination, such shares of Legacy Tigo common stock were converted to shares of Common Stock. Please see Note 3, “Merger with Roth CH Acquisition IV Co.” for additional information. (in thousands) Fair value of Balance at January 1, 2022 $ 487 Change in fair value 1,020 Balance at December 31, 2022 1,507 Change in fair value 501 Exercise of warrants ( 2,008 ) Balance at September 30, 2023 $ — The table presented below is a summary of the changes in fair value of the Company’s Level 3 financial instruments. The contingent shares from the fSight acquisition (Note 4) were initially classified as a Level 3 measurement and upon the Merger were transferred out of Level 3 into Level 1, as they are now valued on the observable stock price of the Company. In addition, the Company bifurcated the conversion options associated with the convertible promissory notes and separately accounted for them as a derivative liability. On September 24, 2023, the Company and L1 Energy entered into the Convertible Note Amendment. As a result of the Convertible Note Amendment, the conversion options no longer meet the requirements to be bifurcated into a convertible note derivative liability in accordance with ASC 815, Derivatives and Hedging . The carrying value of the convertible note derivative liability was remeasured to fair value immediately prior to the execution of the Convertible Note Amendment and was reclassified to equity. The reclassification was recorded in additional paid-in capital on the Company’s condensed consolidated balance sheet. Please refer to Note 9 “Long-Term Debt” for additional details regarding the derivative instrument. (in thousands) Fair value of Fair value of Balance at December 31, 2022 $ — $ — Fair value at inception 2,167 23,525 Change in fair value 29 ( 12,247 ) Transfer out of level 3 ( 2,196 ) ( 11,278 ) Balance at September 30, 2023 $ — $ — The fair value of the convertible note derivative liability was estimated using the Black-Scholes option pricing model using the following assumptions: As of September 24, 2023 (1) Expected volatility 58.6 % Risk-free interest rate 4.9 % Expected term (in years) 2.3 Expected dividend yield — (1) The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment. During the three and nine months ended September 30, 2022, there were no transfers between Level 1, Level 2 and Level 3. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, restricted cash, marketable securities, accounts receivable, accounts payable, and customer deposits approximate fair value due to their short-term nature. As of September 30, 2023, the fair value and carrying value of the Company’s Convertible Promissory Note (Note 9) was $ 58.1 million and $ 29.3 million, respectively. As of December 31, 2022 , the fair value and carrying value of the Company’s Series 2022-1 Notes was $ 21.0 million and $ 20.6 million, respectively. The estimated fair value for the Company’s Convertible Promissory Note and Series 2022-1 Notes was based on discounted expected future cash flows using prevailing interest rates which are Level 3 inputs under the fair value hierarchy.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Revenue Recognition	7. Revenue Recognition Geographic Revenue, Net The Company sells its products in the Americas (North and South America), EMEA (Europe, Middle East, and Africa), and APAC (Asia-Pacific) regions. The following table summarizes revenue, net by major geographic region (in millions): Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 EMEA $ 10,241 $ 13,999 $ 105,595 $ 30,861 Americas 3,576 6,681 21,776 15,818 APAC 3,287 2,144 8,617 3,703 Total revenue, net $ 17,104 $ 22,824 $ 135,988 $ 50,382 Deferred Revenue Deferred revenue or contract liabilities consists of payments received from customers in advance of revenue recognition for the Company’s products and service. The current portion of deferred revenue represents the unearned revenue that will be earned within 12 months of the balance sheet date. Correspondingly, noncurrent deferred revenue represents the unearned revenue that will be earned after 12 months from the balance sheet date. The following table summarizes the changes in deferred revenue: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Balance at the beginning of the period $ 623 $ 1,102 $ 1,122 $ 451 Deferral of revenue 4,673 5,347 27,842 12,200 Recognition of unearned revenue ( 4,840 ) ( 5,770 ) ( 28,508 ) ( 11,972 ) Balance at the end of the period $ 456 $ 679 $ 456 $ 679 As of September 30, 2023, the Company expects to recognize $ 0.5 million from remaining performance obligations over a weighted average term of 3.2 years. The Company did no t recognize any revenue that was included in the beginning contract liabilities balance during the three months ended September 30, 2023, and 2022. The Company recognized approximately $ 0.9 million and $ 0.2 million in revenue that was included in the beginning contract liabilities balance during the nine months ended September 30, 2023, and 2022, respectively. Product Warranty The Company estimates the cost of its warranty obligations based on several key estimates: the warranty period (which vary from 5 to 25 years depending on the product), its historical experience of known product failure rates, use of materials to repair or replace defective products and parts, and service delivery costs incurred in correcting product failures. In addition, from time to time, specific warranty accruals may be made if unforeseen technical problems arise. Should the actual experience relative to these factors differ from the estimates, the Company may be required to record additional warranty reserves. The following table summarizes the changes in product warranty liability: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Balance at the beginning of the period $ 5,493 $ 3,662 $ 4,351 $ 3,393 Provision for warranty 460 321 1,810 629 Warranty usage ( 146 ) ( 66 ) ( 354 ) ( 105 ) Balance at the end of the period $ 5,807 $ 3,917 $ 5,807 $ 3,917

Selected Financial Data

Selected Financial Data	9 Months Ended
	Sep. 30, 2023
Disclosure Text Block Supplement [Abstract]
Selected Financial Data	8. Selected Financial Data Selected financial data as of the dates presented below is as follows (in thousands, except useful life data): Inventory, net September 30, December 31, Raw materials $ 1,063 $ 1,869 Work in process — 31 Finished goods 57,448 23,293 Inventory reserve ( 1,074 ) ( 278 ) Inventory, net $ 57,437 $ 24,915 Property and equipment, net Estimated Useful Life September 30, December 31, Machinery and equipment 7 years $ 5,297 $ 3,881 Vehicles 5 years 31 31 Computer software 5 years 201 185 Computer equipment 5 years 571 526 Furniture and fixtures 5 years 208 179 Leasehold improvements 3 - 6 years 236 42 Construction in progress 2 — 6,546 4,844 Less: Accumulated depreciation 3,783 3,192 Property and equipment, net $ 2,763 $ 1,652 For the three months ended September 30, 2023, and 2022 the Company recorded depreciation expense of $ 0.2 million and $ 0.2 million, respectively, in the condensed consolidated statements of operations and comprehensive income (loss). For the nine months ended September 30, 2023, and 2022 the Company recorded depreciation expense of $ 0.6 million and $ 0.4 million, respectively, in the condensed consolidated statements of operations and comprehensive income (loss). Accrued expenses and other current liabilities September 30, December 31, Accrued vacation $ 1,009 $ 829 Accrued compensation 1,647 624 Accrued interest 583 9 Accrued professional fees 911 2,502 Accrued warehouse and freight 1,093 143 Accrued other 1,443 275 Other current liabilities (1) 1,995 — Accrued expenses and other current liabilities $ 8,681 $ 4,382 (1) Other current liabilities of $ 2.0 million for the period ended September 30, 2023 , are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities September 30, December 31, Accrued vacation $ 1,009 $ 829 Accrued compensation 1,647 624 Accrued interest 583 9 Accrued professional fees 911 2,502 Accrued warehouse and freight 1,093 143 Accrued other 1,443 275 Other current liabilities (1) 1,995 — Accrued expenses and other current liabilities $ 8,681 $ 4,382 (1) Other current liabilities of $ 2.0 million for the period ended September 30, 2023 , are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt Long-term debt consisted of the following (in thousands): September 30, December 31, Convertible Promissory Note $ 50,000 $ — Series 2022-1 Notes — 20,833 Total 50,000 20,833 Less: unamortized debt discount and issuance costs ( 20,666 ) ( 191 ) Less: current portion — ( 10,000 ) Long-term debt, net of unamortized debt discount and current portion $ 29,334 $ 10,642 Convertible Promissory Notes On January 9, 2023, the Company entered into the Note Purchase Agreement with L1 Energy pursuant to which the Company issued the Convertible Promissory Note. Outstanding borrowings under the Convertible Promissory Note bears interest at a rate of 5.0 % per year. The principal amount of the Convertible Promissory Note is due at the maturity date of January 9, 2026 , and interest is payable semiannually beginning July 2023. As of September 30, 2023, there was $ 0.6 million of accrued interest in the condensed consolidated balance sheet. Under the terms of the Note Purchase Agreement, the Convertible Promissory Note may be converted at the option of the note holder into shares of 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. In addition, the note holder may accelerate the repayment of the Convertible Promissory Note upon an event of default and the maturity will automatically be accelerated in the event of the Company’s insolvency or bankruptcy. As a result of the Business Combination, the conversion options were bifurcated and accounted for as derivatives. Upon recognition, the Company recorded the conversion options at fair value and associated debt discount of $ 23.5 million. On September 24, 2023, the Company and L1 Energy entered into the Convertible Note Amendment which modified the conversion terms of the Convertible Promissory Notes. As a result, the conversion options no longer met the criteria to be bifurcated into a convertible note derivative liability; instead, the conversion options will now be reclassified to equity under ASC Topic 815, Derivatives and Hedging . Immediately prior to the execution of the Convertible Note Amendment, the Company fair valued the convertible note derivative liability at $ 11.3 million. Please refer to Note 6, “Fair Value of Financial Instruments”, for further detail on the inputs for the final fair value calculation. The resulting change in fair value was recorded in the Company’s condensed consolidated statement of operation and comprehensive income (loss). Subsequently, the convertible note derivative liability was reclassified to an equity classified derivative and was recorded into additional paid-in capital on the Company’s condensed consolidated balance sheet. Future aggregate principal maturities of long-term debt are as follows as of September 30, 2023 (in thousands): Remainder of 2023 $ — 2024 — 2025 — 2026 50,000 Thereafter — $ 50,000 Series 2022-1 Notes In January 2023, concurrently with the Convertible Promissory Note transaction, the Company repaid the Series 2022-1 Notes in full with the proceeds from the Convertible Promissory Note and wrote off $ 0.2 million of unamortized debt issuance costs related to the previously outstanding Series 2022-1 Notes, which are included in loss on debt extinguishment on the condensed consolidated statements of operations and comprehensive income (loss). Senior Bonds In January 2022, concurrently with the Series 2022-1 Notes transaction, the Company repaid the Senior Bonds in full with the proceeds from the Series 2022-1 Notes and wrote off $ 0.5 million of unamortized debt issuance costs related to the previously outstanding Senior Bonds and $ 3.1 million of expenses related to lender fees on the Series 2022-1 Notes, which are included in loss on debt extinguishment on the condensed consolidated statements of operations and comprehensive income (loss). Net debt issuance costs are presented as a direct reduction of the Company’s long-term debt in the condensed consolidated balance sheets and amount to $ 23.9 million and $ 0.2 million as of September 30, 2023, and December 31, 2022, respectively. During the three months ended September 30, 2023, and 2022, the Company recorded amortization of $ 2.2 and $ 0.1 million, respectively, to interest expense pertaining to debt issuance costs. During the nine months ended September 30, 2023, and 2022, the Company recorded amortization of $ 3.2 million and $ 0.2 million, respectively, to interest expense pertaining to debt issuance costs.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Employment Agreements The Company entered into employment agreements with key personnel providing compensation and severance in certain circumstances, as defined in the respective employment agreements. Legal In the normal course of business, the Company may become involved in litigation or legal disputes that are not covered by insurance. While the Company intends to vigorously defend itself with respect to such disputes, any potential outcomes resulting from such claims would be inherently difficult to quantify. Indemnification Agreements From time to time, in its normal course of business, the Company may indemnify other parties with which it enters into contractual relationships, including customers, lessors and parties to other transactions with the Company. The Company may agree to hold other parties harmless against specific losses, such as those that could arise from third-party claims or a breach of representation or covenant. It may not be possible to determine the maximum potential amount of liability under such indemnification agreements due to the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision. The Company has also indemnified its Directors and Executive Officers, to the extent legally permissible, against all liabilities reasonably incurred in connection with any action in which such individual may be involved by reason of such individual being or having been a Director or Executive Officer. The Company believes the current estimated fair value of any obligation from these indemnification agreements is minimal; therefore, these condensed consolidated financial statements do not include a liability for any potential obligations at September 30, 2023 .

Common Stock and Convertible Pr

Common Stock and Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Common Stock and Convertible Preferred Stock	11. Common Stock and Convertible Preferred Stock Common Stock The Company is authorized to issue 150,000,000 shares of Common Stock. Each share of Common Stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. In connection with the Business Combination, the Company issued 1,700,498 shares of Common Stock to former stockholders of ROCG and 118,021 shares of Common Stock to Roth Capital Partners, LLC. Common Stock Reserved for Future Issuance Shares of Common Stock reserved for future issuance, on an as-if converted basis, were as follows: As of September 30, 2023 Stock options issued and outstanding 5,145,445 Restricted stock units issued and outstanding 938,771 Shares available for potential conversion of L1 Convertible Note 5,305,437 Shares available for fSight Contingent Shares 258,033 Shares available for grant under 2023 Equity Incentive Plan 4,649,266 16,296,952 Common Stock Warrants Legacy Tigo had outstanding warrants to purchase 1,915,372 shares of Legacy Tigo common stock (“Legacy Warrants”), which (prior to the consummation of the Business Combination) represented rights to purchase Legacy Tigo common stock. During the three and nine months ended September 30, 2023, 1,915,372 Legacy Warrants were net exercised resulting in the issuance of 1,491,229 shares of Common Stock. As of September 30, 2023 , there were no Legacy Warrants outstanding. In connection with the Business Combination, the Company assumed 5,750,000 warrants originally issued as part of ROCG’s units in ROCG’s initial public offering (the “Public Warrants”) and 18,750 warrants issued to the initial stockholders of ROCG in a private placement in connection with ROCG’s initial public offering (the “Private Warrants” and, together with the Public Warrants, the “Warrants”), which, in each case, entitle the holder to purchase one share of Common Stock at an exercise price of $ 11.50 per share. Except with respect to certain registration rights and transfer restrictions, the Private Warrants are identical to the Public Warrants. The Company has analyzed the Warrants and determined they are freestanding instruments and do not exhibit any of the characteristics in ASC 480, Distinguishing Liabilities from Equity , and therefore are not classified as liabilities under ASC 480, Distinguishing Liabilities from Equity . On August 9, 2023, the Company announced the redemption of all of its outstanding Public Warrants and Private Warrants to purchase shares of Common Stock that were issued under the Warrant Agreement, dated as of August 5, 2021, by and among the Company and Continental Stock Transfer & Trust Company, as warrant agent, at a redemption price of $ 0.01 per Warrant for those Warrants that remain outstanding following 5:00 p.m. New York City time on September 8, 2023. Under the terms of the Warrant Agreement, the Company was entitled to redeem all of its outstanding Warrants for $ 0.01 per Warrant if the reported closing price of the Company’s Common Stock was at least $ 18.00 per share on each of twenty trading days within a thirty trading day period ending on the third trading day prior to the date on which a notice of redemption is given. This performance threshold was achieved following the market close on August 4, 2023. A total of 324,546 Warrants were exercised through September 8, 2023, resulting in proceeds, net of issuance costs, of $ 3.7 million. All other Warrants were redeemed on September 8, 2023. The Company paid $ 0.1 million for the remaining Warrants that were not exercised as of September 8, 2023, which was recorded as a reduction to additional paid-in capital on the Company's condensed consolidated balance sheet. During the three and nine months ended September 30, 2023, there were 324,546 exercises of Warrants. Convertible Preferred Stock In connection with the Business Combination, as discussed in Note 3, the Company issued 47,918,992 shares of Common Stock to holders of convertible preferred stock of Legacy Tigo. No convertible preferred securities were outstanding as of September 30, 2023. Prior to the Business Combination, Legacy Tigo's convertible preferred stock was classified outside of stockholders’ deficit because the shares contained deemed liquidation rights that were contingent redemption features not solely within the control of Legacy Tigo. As a result, all of Legacy Tigo's convertible preferred stock was classified as mezzanine equity. During the nine months ended September 30, 2022, Legacy Tigo sold an aggregate of 7,832,394 shares of its Series E convertible preferred stock (“Series E”) in exchange for gross proceeds of $ 41.0 million. Legacy Tigo incurred $ 0.1 million in issuance costs for the Series E sale. At December 31, 2022, convertible preferred stock consisted of the following. The Company has retroactively adjusted the shares issued and outstanding to reflect the exchange ratio of 0.233335 as described in Note 3. (in thousands, except for share data) Shares Shares Carrying Aggregate Series E 8,601,120 7,832,394 $ 40,770 $ 45,371 Series D 11,513,253 11,513,253 22,192 29,831 Series C-1 9,020,682 9,020,682 2,180 18,000 Series C 6,318,524 6,070,151 11,647 13,442 Series B-4 7,172,501 7,172,501 7,582 11,199 Series B-3 1,546,441 1,546,441 862 2,620 Series B-2 174,208 174,208 105 340 Series B-1 1,863,215 1,863,215 611 2,918 Series A-4 570,976 570,976 661 4,182 Series A-3 466,245 466,245 260 1,604 Series A-2 149,281 149,281 160 1,021 Series A-1 88,216 88,216 110 679 47,484,663 46,467,565 $ 87,140 $ 131,207 Convertible Preferred Stock Warrants Warrants to purchase a total of 1,064,446 shares of Series C convertible preferred stock of Legacy Tigo were initially recognized as a liability and recorded at fair value upon issuance and were subject to remeasurement to fair value at each balance sheet date. As part of the Business Combination, Legacy Tigo convertible preferred stock was remeasured immediately before the Merger date, and was subsequently converted into Legacy Tigo common stock pursuant to the conversion rate in effect immediately prior to the consummation of the Business Combination and all related Legacy Tigo convertible preferred stock warrants were converted into warrants exercisable for shares of Common Stock with terms consistent with the Legacy Tigo convertible preferred stock warrants except for the number of shares exercisable and the exercise price, each of which was adjusted using the Exchange Ratio. In connection with the Business Combination, as discussed in Note 3, all outstanding Series C convertible preferred stock warrants were exercised resulting in the net issuance of 828,733 shares of convertible preferred stock which were immediately converted into Common Stock in connection with the recapitalization. As of September 30, 2023 , there were no convertible preferred stock warrants outstanding.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation The Company adopted the 2008 Stock Plan (“2008 Plan”) under which it may issue stock options to purchase shares of common stock, and award restricted stock and stock appreciation rights to employees, Directors and consultants. The 2008 Plan expired in March 2018 and all award issuance therefore ceased. Options generally vest over a four-year period with a one-year cliff. The option term is no longer than five years for incentive stock options for which the grantee owns greater than 10 % of the Company’s capital stock and no longer than 10 years for all other options. The Company has a repurchase option on unvested restricted stock exercisable upon the voluntary or involuntary termination of the purchaser’s employment with the Company for any reason. The Company’s repurchase right lapses in accordance with the vesting terms. Through September 30, 2023, there have been no exercises of common stock options prior to the vesting of such options. Options outstanding under the 2008 Plan will remain outstanding until they are exercised, canceled or expire. In May 2018, the Company adopted the 2018 Stock Plan (“2018 Plan”) under which the Company may issue stock options to purchase shares of common stock, and award restricted stock and stock appreciation rights to employees, Directors and consultants. Under the 2018 Plan, the Board of Directors may grant incentive stock options or nonqualified stock options. Incentive stock options may only be granted to Company employees. The 2018 Plan expired in May 2023 and all award issuance therefore ceased. The exercise price of incentive stock options and non-qualified stock options cannot be less than 100 % of the fair value per share of the Company’s common stock on the grant date. If an individual owns more than 10 % of the Company’s outstanding capital stock, the price of each share incentive stock option will be at least 110 % of the fair value. Fair value is determined by the Board of Directors. Options generally vest over a four-year period with a one-year cliff. The option term is no longer than five years for incentive stock options for which the grantee owns greater than 10 % of the Company’s capital stock and no longer than 10 years for all other options. The Company has a repurchase option on unvested restricted stock exercisable upon the voluntary or involuntary termination of the purchaser’s employment with the Company for any reason. The Company’s repurchase right lapses in accordance with the vesting terms. Options outstanding under the 2018 Plan will remain outstanding until they are exercised, canceled or expire. Through September 30, 2023, there have been 1,458 exercises of common stock options prior to the vesting of such options. In May 2023, the Company adopted the 2023 Equity Incentive Plan (“2023 Plan”) under which the Company may issue stock options to purchase shares of common stock, award restricted stock, restricted stock units (”RSU”), dividend equivalents, stock appreciation rights, and other stock-based or cash-based awards to employees, Directors and consultants. Through September 30, 2023, the Company has granted 1,170,685 options to purchase shares of common stock and 938,771 RSU’s under the 2023 plan. The options and RSU’s generally vest over a four-year period following the date of grant, with 25 % vesting on the first anniversary of the grant date and the remaining vesting in equal monthly installments thereafter. Through September 30, 2023 , there have been no options or RSU’s under the 2023 plan that have vested and there have been no exercises of any options or RSU’s. Collectively, the 2008 Stock Plan, 2018 Stock Plan and the 2023 Equity Incentive Plan are referred to as “the Plans”. The Company has reserved 4,649,266 shares of common stock for future issuance under the Plans. The Company measures stock-based awards at their grant-date fair value and records compensation expense on a straight-line basis over the vesting period of the awards. The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Research and development $ 180 $ 67 $ 292 $ 79 Sales and marketing 455 97 901 106 Cost of sales 59 30 113 35 General and administrative 580 147 831 173 Total stock-based compensation $ 1,274 $ 341 $ 2,137 $ 393 Stock Options The following table summarizes stock option activity for the Plans for the nine months ended September 30, 2023: Number Weighted Weighted Aggregate intrinsic value (in 000's) Outstanding at December 31, 2022 4,269,402 $ 1.08 6.07 Granted 1,489,681 $ 10.54 Exercised ( 415,615 ) $ 0.46 Cancelled ( 198,023 ) $ 2.56 Outstanding at September 30, 2023 5,145,445 $ 3.81 6.61 $ 21,683 Exercisable at September 30, 2023 2,625,266 $ 0.80 4.29 $ 16,304 Vested and expected to vest at September 30, 2023 5,145,445 $ 3.81 6.61 The shares of the Company’s stock options prior to the Business Combination (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 0.233335 established in the Business Combination as described in Note 3. As of September 30, 2023, the total unrecognized compensation expense related to unvested stock option awards was $ 11.9 million, which the Company expects to recognize over a weighted-average period of 3.4 years. The fair value of options is estimated using the Black-Scholes option pricing model, which takes into account inputs such as the exercise price, the value of the underlying common stock at the grant date, expected term, expected volatility, risk-free interest rate and dividend yield. The fair value of each grant of options was determined using the methods and assumptions discussed below. • The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company's lack of sufficient historical data. The expected term of non-employee options is equal to the contractual term. • The expected volatility is based on historical volatilities of similar entities within the Company's industry which were commensurate with the expected term assumption as described in SAB No. 107. • The risk-free interest rate is based on the interest rate payable on U.S. Treasury securities in effect at the time of grant for a period that is commensurate with the assumed expected term. • The expected dividend yield is 0 % because the Company has not historically paid and does not expect in the foreseeable future to pay a dividend on its common stock. • As the Company's common stock has not historically been publicly traded, its Board of Directors periodically estimated the fair value of the Company's common stock considering, among other things, contemporaneous valuations of its common stock prepared by an unrelated third-party valuation firm in accordance with the guidance provided by the American Institute of Certified Public Accountants 2013 Practice Aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation. The fair value of each option was estimated on the date of grant using the weighted average assumptions in the table below: September 30, 2023 September 30, 2022 Expected volatility 68.1 % 55.0 % Risk-free interest rate 4.1 % 3.2 % Expected term (in years) 6.0 7.0 Expected dividend yield — % — % Restricted Stock Units The following table summarizes RSU activity for the Plans for the nine months ended September 30, 2023: Number Weighted Outstanding at December 31, 2022 — $ — Granted 938,771 $ 11.39 Vested — $ — Cancelled — $ — Outstanding at September 30, 2023 938,771 $ 11.39 As of September 30, 2023, the total unrecognized compensation expense related to unvested RSU's was $ 10.2 million, which the Company expects to recognize over a weighted-average period of 2.7 years.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	13. Leases As a lessee, the Company currently leases office space and vehicles in the United States, Italy, Israel, China, and Thailand. All of the Company leases are classified as operating leases. The Company has no leases classified as finance or sales-type leases. For leases with terms greater than 12 months , the Company records the related assets and obligations at the present value of lease payments over the term. Many of its leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The majority of the Company’s leases have remaining lease terms of one to seven years , some of which include options to extend the leases for up to eight years, and some of which include options to terminate the leases within one year . The components of lease expense are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2023 Operating lease costs $ 325 $ 802 Variable lease costs 99 234 Total lease cost $ 424 $ 1,036 Other information related to leases was as follows: Nine Months Ended September 30, Supplemental Cash Flows Information (in thousands) 2023 Cash paid for amounts included in the measurement of lease liabilities $ 2,187 September 30, 2023 December 31, 2022 Weighted average remaining lease term (years) 3.0 2.7 Weighted average discount rate 5.0 % 5.4 % Future maturities of lease liabilities were as follows as of September 30, 2023: (in thousands) Operating Leases Remainder of 2023 $ 328 2024 1,300 2025 549 2026 385 2027 335 Thereafter 64 Total future minimum lease payments $ 2,961 Less: imputed interest 230 Present value of lease liabilities $ 2,731

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	14. Goodwill and Intangible Assets As of September 30, 2023, the Company had a goodwill balance of $ 13.1 million. The goodwill balance is primarily related to the acquisition of fSight, refer to “Note 4” for further information. The Company's intangible assets by major asset class are as follows: September 30, 2023 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 48 ) $ 402 Customer relationships 10.0 170 ( 11 ) 159 Developed technology 10.0 1,820 ( 121 ) 1,699 Total intangible assets $ 2,440 $ ( 180 ) $ 2,260 As of December 31, 2022, the Company did no t have any intangible assets. The Company recognized amortization expense related to intangible assets of $ 0.1 million for the three months ended September 30, 2023 , and none for the three months ended September 30, 2022. The Company recognized amortization expense related to acquired intangible assets of $ 0.2 million for the nine months ended September 30, 2023 , and none for the nine months ended September 30, 2022. Amortization expense is included in general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). Amortization expense related to intangible assets at September 30, 2023 in each of the next five years and beyond is expected to be incurred as follows (in thousands): (in thousands) Amount Remainder of 2023 $ 70 2024 270 2025 270 2026 270 2027 262 Thereafter 1,118 $ 2,260

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The Company’s income tax expense, deferred tax assets and liabilities, and reserves for unrecognized tax benefits reflect management’s best assessment of estimated current and future taxes to be paid. The Company is subject to income taxes in both the United States and foreign jurisdictions. Significant judgment and estimates are required in determining the consolidated income tax expense. In the second quarter of 2023, the Company assessed all available positive and negative evidence placing the most weight on objectively verifiable information. As such, the Company’s cumulative profit position was given the most weight and, based on estimated future sources of taxable income, the Company determined that the future benefits were more likely than not to be realized and released the valuation allowance against U.S. federal net deferred tax assets. The Company continued to record a valuation allowance against its state net deferred tax assets which is primarily the state of California deferred tax assets. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. In the third quarter of 2023, the Company and its industry overall experienced a significant change in outlook. As a result of the significant number of bankruptcies by installers, higher than expected order cancellations and pushouts, slower than expected installation rates, higher inventory levels in the channel and a general slowdown in the macroeconomic environment in the third quarter of 2023, the Company assessed all available positive and negative evidence and determined that its U.S. federal net deferred tax asset is no longer more likely than not realizable and recorded a valuation allowance against its U.S. federal net deferred tax assets. In making this determination, the Company placed the most weight on objectively verifiable information which was the Company’s cumulative loss position. During interim periods, the Company generally utilizes the estimated annual effective tax rate method which involves the use of forecasted information. The discrete method of calculating the estimated effective tax rate involves the use of actual year-to-date information. The Company applied the discrete effective tax rate method for the period ended September 30, 2023. The Company determined that since nominal changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate, the discrete effective tax rate method would provide a more reliable estimate of income tax expense for the three and nine months ended September 30, 2023. For the three months ended September 30, 2023, the Company recorded a tax expense and valuation allowance of $ 11.1 million on the basis of management’s reassessment of the amount of its deferred tax assets that are more likely than not to be realized. Income tax expense was $ 11.0 million and $ 29,000 for the three and nine months ended September 30, 2023, respectively. The Company did no t have income tax expense or income tax benefit for the three and nine months ended September 30, 2022. The effective tax rates for the three months ended September 30, 2023, and 2022 were 27.4 % and 0.0 %, respectively. The effective tax rates for the nine months ended September 30, 2023, and 2022 were 0.0 % and 0.0 %, respectively. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21 % and the effective tax rate for the three months ended September 30, 2023, was the discrete tax expense of recording valuation allowance against U.S. net deferred tax assets. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21 % and the effective tax rate of 0.0 % for the nine months ended September 30, 2023, was the change in valuation allowance which offset the tax benefit of book losses. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21 % and the effective tax rate of 0.0 % for the three and nine months ended September 30, 2022, was the change in valuation allowance which offset the tax benefit of book losses. As of September 30, 2023, the Company’s U.S. federal and certain state tax returns remain subject to examination, beginning with those filed for the year ended December 31, 2013.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	16. Related Party Transactions Series C-1 Convertible Preferred Stock The Series C-1 convertible preferred stock (Note 8) was issued to certain existing stockholders. Note Receivable from Related Parties and Related Party Payable As of September 30, 2022 , there was $ 0.1 million of full recourse promissory notes from the Company’s Chief Executive Officer and former Directors. The full recourse promissory notes were forgiven in December 2022.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed consolidated financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Emerging Growth Company Status	Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (JOBS Act). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.
Basis of Consolidation	Basis of Consolidation The condensed consolidated financial statements include the accounts of Tigo and its wholly-owned subsidiaries: Tigo Energy Israel Ltd. and Foresight Energy, Ltd. (“fSight”), both of which are incorporated in Israel, in addition to Tigo Energy Italy SRL, Tigo Energy Systems Trading (Suzhou) Company, Limited and Tigo Energy Australia Pty Limited which are incorporated in Italy, China and Australia, respectively. All intercompany transactions and balances have been eliminated in consolidation. The Company has determined the functional currency of the subsidiaries to be the United States (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) expense, net in the condensed consolidated statements of operations and comprehensive income (loss) and were not material for the three and nine months ended September 30, 2023 .
Use of Estimates	Use of Estimates 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, the determination of the incremental borrowing rate for operating leases, provisions for warranty and expected credit losses, inventory obsolescence, sales returns, future price concessions, fair value of the derivative liability and tax contingencies and valuation allowances as well 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.
Reclassification	Reclassification Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period's presentation as follows. Customer deposits in previous periods were recorded in other accrued liabilities within the condensed consolidated balance sheet. Customer deposits are now recorded in deferred revenue, current portion and deferred revenue, net of current portion within the condensed consolidated balance sheet.
Marketable Securities	Marketable Securities The Company’s marketable securities consist of investments in U.S. agency securities and corporate bonds that are classified as available-for-sale. The securities are carried at fair value with the unrealized gains and losses included in other comprehensive loss, a component of stockholders’ equity (deficit). Realized gains, losses, and declines in value determined to be other than temporary are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss). If any adjustment to fair value reflects a decline in the value of the investment that the Company considers to be “other than temporary,” the Company would reduce the investment to fair value through a charge to the condensed consolidated statements of operations and comprehensive income (loss). No such adjustments were necessary during the periods presented.
Business Combinations	Business Combinations The Company accounts for business combinations under ASC Topic 805, Business Combinations , using the acquisition method of accounting, and accordingly, the assets and liabilities of the acquired business are recorded at their fair values at the date of acquisition. The fair values assigned, defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants, are based on estimates and assumptions determined by management. These valuations require the Company to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired customer relationships and developed technology, royalty rates, and discount rates. The Company records the excess consideration over the aggregate fair value of tangible and intangible assets, net of liabilities assumed, as goodwill. All acquisition costs are expensed as incurred. Upon acquisition, the accounts and results of operations are included as of and subsequent to the acquisition date. If the initial accounting for a business combination is incomplete by the end of a reporting period that falls within the measurement period, the Company reports provisional amounts in the condensed consolidated financial statements. During the measurement period, the provisional amounts recognized at the acquisition date will be adjusted to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date and the Company records those adjustments in the condensed consolidated financial statements.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired in addition to liabilities assumed arising from the acquisition of fSight. Initially the Company measures goodwill based upon the value of the consideration paid plus or minus net assets assumed. The goodwill arising from the Company's acquisition is attributable to the value of the potential expanded market opportunity with new customers. Intangible assets have either an identifiable or indefinite useful life. Intangible assets are recorded at cost or when acquired as part of a business combination at estimated fair value. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, whichever is shorter. The Company's amortizable intangible assets consist primarily of patents, developed technology, and customer relationships. The useful life of these intangible assets ranges from 4 to 10 years. Goodwill is not amortized but is subject to annual impairment testing unless circumstances dictate more frequent assessments. The Company will perform an annual impairment assessment for goodwill and more frequently whenever events or changes in circumstances indicate that the fair value of the asset may be less than the carrying amount.
Convertible Promissory Note	Convertible Promissory Note On January 9, 2023, the Company entered into a convertible promissory note purchase agreement (the “Note Purchase Agreement”) with L1 Energy Capital Management S.a.r.l (“L1 Energy”) pursuant to which the Company issued a convertible promissory note in an aggregate principal amount of $ 50.0 million (the “Convertible Promissory Note”). The Company analyzes its convertible debt instruments for embedded attributes that may require bifurcation from the host and accounted for as derivatives. At the inception of each instrument, in the event of a modification of a debt agreement, and at each reporting date, the Company performs an analysis of the embedded features requiring bifurcation and may elect, if eligible, to account for the entire debt instrument at fair value. If the fair value option were to be elected, any changes in fair value would be recognized in the accompanying statements of operations until the instrument is settled. Under the terms of the Note Purchase Agreement, the Convertible Promissory Note may be converted at the option of the noteholder into shares of Common Stock or an equivalent equity instrument resulting from a public company event. As a result of the Business Combination, the conversion options were bifurcated and accounted for as derivatives. The derivative instrument was recorded at fair value upon recognition and was subject to remeasurement to fair value at each balance sheet date, with any changes in estimated fair value recognized in the accompanying consolidated statements of operations and comprehensive income (loss). On September 24, 2023, the Company and L1 Energy entered into an Amendment to Note Purchase Agreement and Convertible Promissory Note (the “Convertible Note Amendment”) which amended the conversion terms and, as a result of such amendment, the conversion options no longer met the requirements to be bifurcated in accordance with ASC Topic 815, Derivatives and Hedging . The carrying value of the convertible note derivative liability was remeasured to fair value immediately prior to the execution of the Convertible Note Amendment and the change in fair value was recorded to the Company's condensed consolidated statements of operations and comprehensive income (loss). The carrying value of the convertible note derivative liability was reclassified to equity and was recorded into additional paid-in capital on the Company’s condensed consolidated balance sheet. Please refer to Note 6 “Fair Value of Financial Instruments” for further details regarding the fair value of the derivative instrument. In addition, please refer Note 9 “Long-Term Debt” for additional details regarding the Convertible Promissory Note and derivative instrument.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (ASC 326). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. This standard is effective for fiscal years beginning after December 15, 2022. The Company adopted the guidance using the modified retrospective approach as of January 1, 2023, which resulted in no cumulative effect adjustment to accumulated deficit and did not have a material impact on the Company’s condensed consolidated financial statements as of the date of adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires a lessee to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The standard is effective for the Company for reporting periods beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company adopted annual reporting the guidance using the modified retrospective approach to apply the standard as of January 1, 2022, with no retrospective adjustments to prior periods on the Company’s annual consolidated financial statements and related notes thereto for the year ended December 31, 2022. As permitted under the new guidance, the Company elected the package of practical expedients, which allowed the Company to retain prior conclusions regarding lease identification, classification and initial direct costs. For the Company’s lease agreements with lease and non-lease components, the Company elected the practical expedient to account for these as a single lease component for all underlying classes of assets. Additionally, for short-term leases with an initial lease term of 12 months or less and with purchase options the Company is not reasonably certain will be exercised, the Company elected to not record ROU assets or corresponding lease liabilities on the Company’s consolidated balance sheet. See Note 13, “ Leases ” for additional information on the Company's leases following the adoption of this standard. In August 2020, the FASB issued ASU No. 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06). The goal of the ASU 2020-06 is to simplify the complexity associated with applying GAAP for certain financial instruments with characteristics of liabilities and equity. More specifically, the amendments focus on the guidance for convertible instruments and derivative scope exception for contracts in an entity’s own equity. The new standard is effective for public business entities, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021. For all other entities, the standard is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Entities may adopt the guidance through either a modified retrospective method or full retrospective method. The Company adopted ASU 2020-06 on January 1, 2023, and determined the impact upon adoption to the consolidated financial statements is immaterial. In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ” ASU 2019-12 removes specific exceptions to the general principles in ASC Topic 740, “Accounting for Income Taxes” (“Topic 740”) and simplifies certain GAAP requirements. ASU 2019-12 is effective for non-public business entities' interim periods within those fiscal years, beginning after December 15, 2022. Depending on the amendment, adoption may be applied on a retrospective, modified retrospective or prospective basis. The Company adopted ASU 2019-12 on January 1, 2022, and determined the impact upon adoption to the consolidated financial statements is immaterial.

Acquisition of Foresight Ener_2

Acquisition of Foresight Energy, Ltd. (Tables) - fSight [Member]	9 Months Ended
	Sep. 30, 2023
Schedule of Business Acquisitions, by Acquisition [Table]
Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed	The following table summarizes the provisional fair values of the identifiable assets acquired and liabilities assumed at the date of the acquisition: (in thousands) At January 25, 2023 Consideration transferred (1) : Fair value of common stock issued $ 10,974 Fair value of contingent shares 2,167 Deemed settlement of loan payable 527 Total consideration $ 13,668 Assets Acquired Cash and cash equivalents $ 55 Accounts receivable 117 Property and equipment 9 Developed technology 1,820 Customer relationships 170 Goodwill 13,079 Total assets acquired $ 15,250 Liabilities Assumed Accounts payable $ 418 Accrued expenses 294 Other current liabilities 89 Other long-term liabilities 781 Net assets acquired $ 13,668 (1) The reported provisional amounts presented above have been updated from the Company's S-1 filed with the SEC on June 22, 2023. The Company recorded an out of period adjustment related to the adjustment of the provisional fair market value of the Legacy Tigo common stock that was used to develop the calculation of the purchase price consideration. The Company does not believe that the adjustment had a material impact on its condensed consolidated statements of operations and comprehensive income (loss), condensed consolidated balance sheets, or condensed consolidated statements of cash flows in any periods previously reported.
Summary of Supplemental Pro Forma Information	The following table presents supplemental pro-forma information for the three and nine months ended September 30, 2023, and 2022 as if the merger with fSight had occurred on January 1, 2022. These amounts have been calculated after applying the Company's accounting policies and are based upon currently available information. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Revenue, net $ 17,104 $ 22,900 $ 136,056 $ 50,580 Net income (loss) $ 29,056 $ ( 2,466 ) $ 13,644 $ ( 8,154 )

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income (Loss) Per Share	The following table sets forth the computation of basic and diluted net income (loss) per share to common stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2023 2022 2023 2022 Basic net income (loss) per common share calculation: Net income (loss) attributable to common stockholders $ 29,056 $ ( 4,523 ) $ 10,391 $ ( 12,182 ) Undistributed earnings to preferred stock stockholders — — ( 4,574 ) — Net income (loss) attributable to common stockholders – basic $ 29,056 $ ( 4,523 ) $ 5,817 $ ( 12,182 ) Weighted-average shares of common stock outstanding – basic 58,408,441 4,908,232 31,070,476 4,852,696 Net income (loss) per share of common stock – basic $ 0.50 $ ( 0.92 ) $ 0.19 $ ( 2.51 ) Diluted net income (loss) per common share calculation: Net income (loss) attributable to common stockholders $ 29,056 $ ( 4,523 ) $ 10,391 $ ( 12,182 ) Reverse: interest expense and change in fair value on derivative liability ( 47,623 ) — ( 7,196 ) — Net (loss) income attributable to common stockholders ( 18,567 ) ( 4,523 ) 3,195 ( 12,182 ) Undistributed earnings to preferred stock stockholders — — ( 1,406 ) — Net (loss) income attributable to common stockholders – diluted $ ( 18,567 ) $ ( 4,523 ) $ 1,789 $ ( 12,182 ) Weighted-average shares of common stock outstanding – basic 58,408,441 4,908,232 31,070,476 4,852,696 Outstanding options and restricted stock units 3,727,831 — 3,472,940 — Legacy Tigo warrants and common stock warrants 927,049 — 813,569 — Convertible promissory note 5,305,437 — 5,130,532 — Weighted-average shares of common stock – diluted 68,368,758 4,908,232 40,487,517 4,852,696 Net (loss) income per share of common stock – diluted $ ( 0.27 ) $ ( 0.92 ) $ 0.04 $ ( 2.51 )
Summary of Anti-dilutive Shares Outstanding	The Company excluded the effect of the below elements from our calculation of diluted income (loss) per share, as their inclusion would have been anti-dilutive. These amounts represent the number of instruments outstanding at the end of the period. As of September 30, 2023 2022 Convertible preferred stock — 46,467,565 Convertible preferred stock warrants — 248,372 Common stock warrants — 1,915,372 Stock options — 4,529,882 — 53,161,191

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Schedule of company's assets that are measured at fair value on a recurring basis	The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: Fair value measurement at (in thousands) (Level 1) (Level 2) (Level 3) (1) September 30, 2023 Assets: Cash equivalents: Money market accounts $ 108 $ — $ — Marketable securities: Corporate bonds $ — $ 20,377 $ — U.S. agency securities $ — $ 18,398 $ — Liabilities: Contingent shares liability from fSight acquisition $ 1,809 $ — $ — December 31, 2022 Liabilities: Preferred stock warrant liability $ — $ — $ 1,507 (1) The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability.
Schedule of changes in fair value of the company's marketable securities	The following is a summary of the changes in fair value of the Company’s marketable securities as of September 30, 2023: (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 17,362 $ 3 $ ( 80 ) $ 17,285 U.S. agency securities 17,186 — $ ( 31 ) 17,155 Total 34,548 3 ( 111 ) 34,440 Long-term assets Corporate bonds 3,133 — ( 41 ) 3,092 U.S. agency securities 1,250 — ( 7 ) 1,243 Total 4,383 — ( 48 ) 4,335 Total available-for-sale marketable securities $ 38,931 $ 3 $ ( 159 ) $ 38,775
Schedule of changes in fair value of the company's preferred stock warrant liability	The table presented below is a summary of the changes in fair value of the Company’s preferred stock warrant liability which was exercised immediately prior to the Business Combination into Legacy Tigo preferred stock and subsequently converted into Legacy Tigo common stock. Upon the consummation of the Business Combination, such shares of Legacy Tigo common stock were converted to shares of Common Stock. Please see Note 3, “Merger with Roth CH Acquisition IV Co.” for additional information. (in thousands) Fair value of Balance at January 1, 2022 $ 487 Change in fair value 1,020 Balance at December 31, 2022 1,507 Change in fair value 501 Exercise of warrants ( 2,008 ) Balance at September 30, 2023 $ —
Schedule of changes in fair value of Level 3 financial instruments	The table presented below is a summary of the changes in fair value of the Company’s Level 3 financial instruments. (in thousands) Fair value of Fair value of Balance at December 31, 2022 $ — $ — Fair value at inception 2,167 23,525 Change in fair value 29 ( 12,247 ) Transfer out of level 3 ( 2,196 ) ( 11,278 ) Balance at September 30, 2023 $ — $ —
Warrant Liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Schedule of fair value of the warrant and derivative liabilities is estimated using the Black-Scholes option pricing model	The fair value of the warrant liabilities was estimated using the Black-Scholes option pricing model using the following assumptions: May 23, 2023 As of December 31, Expected volatility 68 % - 70 % 70 % - 76 % Risk-free interest rate 4.10 % - 4.28 % 4.22 % - 4.34 % Expected term (in years) 2.0 - 2.6 2.4 - 3.0 Expected dividend yield — — Fair value of Series C convertible preferred stock $ 1.89 $ 1.82
Derivative Liability
Fair Value, Option, Quantitative Disclosures [Line Items]
Schedule of fair value of the warrant and derivative liabilities is estimated using the Black-Scholes option pricing model	The fair value of the convertible note derivative liability was estimated using the Black-Scholes option pricing model using the following assumptions: As of September 24, 2023 (1) Expected volatility 58.6 % Risk-free interest rate 4.9 % Expected term (in years) 2.3 Expected dividend yield — (1) The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Summary of Revenue Net by Major Geographic Region	The following table summarizes revenue, net by major geographic region (in millions): Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 EMEA $ 10,241 $ 13,999 $ 105,595 $ 30,861 Americas 3,576 6,681 21,776 15,818 APAC 3,287 2,144 8,617 3,703 Total revenue, net $ 17,104 $ 22,824 $ 135,988 $ 50,382
Schedule of Summarizes the Changes in Deferred Revenue	The following table summarizes the changes in deferred revenue: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Balance at the beginning of the period $ 623 $ 1,102 $ 1,122 $ 451 Deferral of revenue 4,673 5,347 27,842 12,200 Recognition of unearned revenue ( 4,840 ) ( 5,770 ) ( 28,508 ) ( 11,972 ) Balance at the end of the period $ 456 $ 679 $ 456 $ 679
Summary of Changes in Product Warranty Liability	The following table summarizes the changes in product warranty liability: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Balance at the beginning of the period $ 5,493 $ 3,662 $ 4,351 $ 3,393 Provision for warranty 460 321 1,810 629 Warranty usage ( 146 ) ( 66 ) ( 354 ) ( 105 ) Balance at the end of the period $ 5,807 $ 3,917 $ 5,807 $ 3,917

Selected Financial Data (Tables

Selected Financial Data (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Selected Financial Data	Selected financial data as of the dates presented below is as follows (in thousands, except useful life data): Inventory, net September 30, December 31, Raw materials $ 1,063 $ 1,869 Work in process — 31 Finished goods 57,448 23,293 Inventory reserve ( 1,074 ) ( 278 ) Inventory, net $ 57,437 $ 24,915
Summary of Property and Equipment, Net	Property and equipment, net Estimated Useful Life September 30, December 31, Machinery and equipment 7 years $ 5,297 $ 3,881 Vehicles 5 years 31 31 Computer software 5 years 201 185 Computer equipment 5 years 571 526 Furniture and fixtures 5 years 208 179 Leasehold improvements 3 - 6 years 236 42 Construction in progress 2 — 6,546 4,844 Less: Accumulated depreciation 3,783 3,192 Property and equipment, net $ 2,763 $ 1,652
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities September 30, December 31, Accrued vacation $ 1,009 $ 829 Accrued compensation 1,647 624 Accrued interest 583 9 Accrued professional fees 911 2,502 Accrued warehouse and freight 1,093 143 Accrued other 1,443 275 Other current liabilities (1) 1,995 — Accrued expenses and other current liabilities $ 8,681 $ 4,382 (1) Other current liabilities of $ 2.0 million for the period ended September 30, 2023 , are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following (in thousands): September 30, December 31, Convertible Promissory Note $ 50,000 $ — Series 2022-1 Notes — 20,833 Total 50,000 20,833 Less: unamortized debt discount and issuance costs ( 20,666 ) ( 191 ) Less: current portion — ( 10,000 ) Long-term debt, net of unamortized debt discount and current portion $ 29,334 $ 10,642
Schedule of Future Aggregate Principal Maturities of Long-Term Debt	Future aggregate principal maturities of long-term debt are as follows as of September 30, 2023 (in thousands): Remainder of 2023 $ — 2024 — 2025 — 2026 50,000 Thereafter — $ 50,000

Common Stock and Convertible _2

Common Stock and Convertible Preferred Stock (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Shares of Common Stock Reserved for Future Issuance	Shares of Common Stock reserved for future issuance, on an as-if converted basis, were as follows: As of September 30, 2023 Stock options issued and outstanding 5,145,445 Restricted stock units issued and outstanding 938,771 Shares available for potential conversion of L1 Convertible Note 5,305,437 Shares available for fSight Contingent Shares 258,033 Shares available for grant under 2023 Equity Incentive Plan 4,649,266 16,296,952
Schedule of Convertible Preferred Stock	At December 31, 2022, convertible preferred stock consisted of the following. The Company has retroactively adjusted the shares issued and outstanding to reflect the exchange ratio of 0.233335 as described in Note 3. (in thousands, except for share data) Shares Shares Carrying Aggregate Series E 8,601,120 7,832,394 $ 40,770 $ 45,371 Series D 11,513,253 11,513,253 22,192 29,831 Series C-1 9,020,682 9,020,682 2,180 18,000 Series C 6,318,524 6,070,151 11,647 13,442 Series B-4 7,172,501 7,172,501 7,582 11,199 Series B-3 1,546,441 1,546,441 862 2,620 Series B-2 174,208 174,208 105 340 Series B-1 1,863,215 1,863,215 611 2,918 Series A-4 570,976 570,976 661 4,182 Series A-3 466,245 466,245 260 1,604 Series A-2 149,281 149,281 160 1,021 Series A-1 88,216 88,216 110 679 47,484,663 46,467,565 $ 87,140 $ 131,207

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Research and development $ 180 $ 67 $ 292 $ 79 Sales and marketing 455 97 901 106 Cost of sales 59 30 113 35 General and administrative 580 147 831 173 Total stock-based compensation $ 1,274 $ 341 $ 2,137 $ 393
Schedule of Stock Option Activity	The following table summarizes stock option activity for the Plans for the nine months ended September 30, 2023: Number Weighted Weighted Aggregate intrinsic value (in 000's) Outstanding at December 31, 2022 4,269,402 $ 1.08 6.07 Granted 1,489,681 $ 10.54 Exercised ( 415,615 ) $ 0.46 Cancelled ( 198,023 ) $ 2.56 Outstanding at September 30, 2023 5,145,445 $ 3.81 6.61 $ 21,683 Exercisable at September 30, 2023 2,625,266 $ 0.80 4.29 $ 16,304 Vested and expected to vest at September 30, 2023 5,145,445 $ 3.81 6.61
Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions	The fair value of each option was estimated on the date of grant using the weighted average assumptions in the table below: September 30, 2023 September 30, 2022 Expected volatility 68.1 % 55.0 % Risk-free interest rate 4.1 % 3.2 % Expected term (in years) 6.0 7.0 Expected dividend yield — % — %
Schedule of RSU Activity	The following table summarizes RSU activity for the Plans for the nine months ended September 30, 2023: Number Weighted Outstanding at December 31, 2022 — $ — Granted 938,771 $ 11.39 Vested — $ — Cancelled — $ — Outstanding at September 30, 2023 938,771 $ 11.39

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary of Components of Lease Expense	The components of lease expense are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2023 Operating lease costs $ 325 $ 802 Variable lease costs 99 234 Total lease cost $ 424 $ 1,036
Schedule of Other Information	Other information related to leases was as follows: Nine Months Ended September 30, Supplemental Cash Flows Information (in thousands) 2023 Cash paid for amounts included in the measurement of lease liabilities $ 2,187 September 30, 2023 December 31, 2022 Weighted average remaining lease term (years) 3.0 2.7 Weighted average discount rate 5.0 % 5.4 %
Schedule of Future Maturities of Lease Liabilities	Future maturities of lease liabilities were as follows as of September 30, 2023: (in thousands) Operating Leases Remainder of 2023 $ 328 2024 1,300 2025 549 2026 385 2027 335 Thereafter 64 Total future minimum lease payments $ 2,961 Less: imputed interest 230 Present value of lease liabilities $ 2,731

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets by Major Asset Class	The Company's intangible assets by major asset class are as follows: September 30, 2023 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 48 ) $ 402 Customer relationships 10.0 170 ( 11 ) 159 Developed technology 10.0 1,820 ( 121 ) 1,699 Total intangible assets $ 2,440 $ ( 180 ) $ 2,260
Schedule of Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets at September 30, 2023 in each of the next five years and beyond is expected to be incurred as follows (in thousands): (in thousands) Amount Remainder of 2023 $ 70 2024 270 2025 270 2026 270 2027 262 Thereafter 1,118 $ 2,260

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 08, 2023	Jan. 09, 2023	Sep. 08, 2023	Sep. 30, 2023	Sep. 30, 2023	Aug. 09, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Common stock, par value				$ 0.0001	$ 0.0001		$ 0.0001
Accumulated deficit				$ (61,006,000)	$ (61,006,000)		$ (62,215,000)
Warrants exercised				324,546	324,546
Cash received from promissory note purchase agreement		$ 50,000,000
Warrant Agreement
Significant Accounting Policies [Line Items]
Redemption price per share						$ 0.01
Warrants exercised			324,546
Payments for remaining warrants	$ 100,000		$ 3,700,000
Maximum
Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets					10 years
Minimum [Member]
Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets					4 years

Merger with Roth CH Acquisiti_2

Merger with Roth CH Acquisition IV Co. - Additional Information (Details) - USD ($)				3 Months Ended						9 Months Ended	12 Months Ended
	May 24, 2023	May 23, 2023	May 22, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022	Jan. 25, 2023
Business Acquisition [Line Items]
Business acquisition shares exchange ratio				0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%
Transaction costs				$ 47,000						$ 200,000
Common stock, shares issued				58,733,366						58,733,366	5,469,921	5,598,751
Common stock, shares outstanding				58,733,366						58,733,366	5,469,921
Roth CH Acquisition IV Co.
Business Acquisition [Line Items]
Business acquisition shares exchange ratio		0.23334%
Cash acquired		$ 2,200,000
Prepaid expenses and insurance acquired		600,000
Accrued expenses assumed		$ 3,400
Income tax payables assumed			$ 61,000
Transaction costs										$ 6,100,000
Transaction costs in excess of cash acquired										$ 3,900,000
Common stock conversion basis			one-to-one
Accumulated dividend to redeemable convertible preferred stockholders			$ 12,600,000
Common stock, shares issued	58,144,543
Common stock, shares outstanding	58,144,543
Options to purchase common stock shares	4,358,301
Number of warrants outstanding	5,768,750

Acquisition of Foresight Ener_3

Acquisition of Foresight Energy, Ltd. - Additional Information (Details) - USD ($)			3 Months Ended	9 Months Ended
		Jan. 25, 2023	Sep. 30, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock issued (in Shares)		5,598,751	58,733,366	58,733,366		5,469,921
Acquisition related costs			$ 47,000	$ 200,000
Liability at a fair value			2,100,000	2,100,000
Liability revalued			1,800,000	1,800,000
Change in fair value business combination			3,000,000	400,000
Fair value		$ 11,000,000			$ 700,000	$ 1,400,000
Revenues			200,000	400,000
Net loss in business			$ 400,000	$ 900,000
Total consideration excluding consideration on loan		$ 13,100,000
Fair Value Guarantee
Business Acquisition [Line Items]
Common stock issued (in Shares)		172,022	86,011	86,011
Developed Technology
Business Acquisition [Line Items]
Useful Life (Years)		10 years
Net assets acquired		$ 1,800,000
Customer Relationships
Business Acquisition [Line Items]
Useful Life (Years)		10 years
Net assets acquired		$ 200,000
fSight
Business Acquisition [Line Items]
Equity interest percentage		100%
Net assets acquired		$ 13,668,000
Deemed settlement of loan payable	[1]	527,000
Total consideration	[1]	13,668,000
fSight | Developed Technology
Business Acquisition [Line Items]
Net assets acquired		1,820,000
fSight | Customer Relationships
Business Acquisition [Line Items]
Net assets acquired		$ 170,000
[1] The reported provisional amounts presented above have been updated from the Company's S-1 filed with the SEC on June 22, 2023. The Company recorded an out of period adjustment related to the adjustment of the provisional fair market value of the Legacy Tigo common stock that was used to develop the calculation of the purchase price consideration. The Company does not believe that the adjustment had a material impact on its condensed consolidated statements of operations and comprehensive income (loss), condensed consolidated balance sheets, or condensed consolidated statements of cash flows in any periods previously reported.

Acquisition of Foresight Ener_4

Acquisition of Foresight Energy, Ltd. - Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		Jan. 25, 2023	Sep. 30, 2023
Liabilities Assumed
Other long-term liabilities			$ 714
Developed Technology
Assets Acquired
Assets acquired		$ 1,800
Liabilities Assumed
Net assets acquired		1,800
Customer Relationships
Assets Acquired
Assets acquired		200
Liabilities Assumed
Net assets acquired		200
fSight
Consideration transferred:
Fair value of common stock issued	[1]	10,974
Fair value of contingent shares	[1]	2,167
Deemed settlement of loan payable	[1]	527
Total consideration	[1]	13,668
Assets Acquired
Cash and cash equivalents		55
Accounts receivable		117
Property and equipment		9
Assets acquired		13,668
Goodwill		13,079
Total assets acquired		15,250
Liabilities Assumed
Accounts payable		418
Accrued expenses		294
Other current liabilities		89
Other long-term liabilities		781
Net assets acquired		13,668
fSight | Developed Technology
Assets Acquired
Assets acquired		1,820
Liabilities Assumed
Net assets acquired		1,820
fSight | Customer Relationships
Assets Acquired
Assets acquired		170
Liabilities Assumed
Net assets acquired		$ 170
[1] The reported provisional amounts presented above have been updated from the Company's S-1 filed with the SEC on June 22, 2023. The Company recorded an out of period adjustment related to the adjustment of the provisional fair market value of the Legacy Tigo common stock that was used to develop the calculation of the purchase price consideration. The Company does not believe that the adjustment had a material impact on its condensed consolidated statements of operations and comprehensive income (loss), condensed consolidated balance sheets, or condensed consolidated statements of cash flows in any periods previously reported.

Acquisition of Foresight Ener_5

Acquisition of Foresight Energy, Ltd. - Summary of Supplemental Pro Forma Information (Details) - fSight [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Revenue, net	$ 17,104	$ 22,900	$ 136,056	$ 50,580
Net income (loss)	$ 29,056	$ (2,466)	$ 13,644	$ (8,154)

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic net income (loss) per common share calculation:
Net income (loss) attributable to common stockholders	$ 29,056	$ (4,523)	$ 10,391	$ (12,182)
Undistributed earnings to preferred stock stockholders			(4,574)
Net income (loss) attributable to common stockholders - basic	$ 29,056	$ (4,523)	$ 5,817	$ (12,182)
Weighted-average shares of common stock outstanding - basic	58,408,441	4,908,232	31,070,476	4,852,696
Net income (loss) per share of common stock, basic	$ 0.5	$ (0.92)	$ 0.19	$ (2.51)
Diluted net income (loss) per common share calculation:
Net income (loss) attributable to common stockholders	$ 29,056	$ (4,523)	$ 10,391	$ (12,182)
Reverse: interest expense and change in fair value on derivative liability	(47,623)		(7,196)
Net (loss) income attributable to common stockholders	(18,567)	(4,523)	3,195	(12,182)
Undistributed earnings to preferred stock stockholders			(1,406)
Net (loss) income attributable to common stockholders - diluted	$ (18,567)	$ (4,523)	$ 1,789	$ (12,182)
Weighted-average shares of common stock outstanding, basic	58,408,441	4,908,232	31,070,476	4,852,696
Outstanding options and restricted stock units	3,727,831		3,472,940
Legacy Tigo warrants and common stock warrants	927,049		813,569
Convertible promissory note	5,305,437		5,130,532
Weighted-average shares of common stock, diluted	68,368,758	4,908,232	40,487,517	4,852,696
Net (loss) income per share of common stock - diluted	$ (0.27)	$ (0.92)	$ 0.04	$ (2.51)

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Summary of Anti-dilutive Shares Outstanding (Details)	9 Months Ended
	Sep. 30, 2022 shares
Earnings Per Share [Abstract]
Convertible preferred stock	46,467,565
Convertible preferred stock warrants	248,372
Common stock warrants	1,915,372
Stock options	4,529,882
Total	53,161,191

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of company's assets that are measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Sep. 24, 2023	Dec. 31, 2022
Marketable securities:
Marketable securities		$ 4,335
Liabilities:
Convertible note derivative liability			$ 11,300
Level 1 [Member]
Cash equivalents:
Money market accounts		108
Liabilities:
Contingent shares liability from fSight acquisition		1,809
Level 2 [Member] | Corporate bonds [Member]
Marketable securities:
Marketable securities		20,377
Level 2 [Member] | U.S. agency securities [Member]
Marketable securities:
Marketable securities		$ 18,398
Level 3 [Member]
Liabilities:
Preferred stock warrant liability	[1]			$ 1,507
[1] The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of changes in fair value of the company's marketable securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Available-for-sale marketable securities:
Total Current Assets	$ 34,440
Long-term assets
Total Long-term assets	4,335
Total Available for sale Marketable Securities, Total	38,775
Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	17,285
Long-term assets
Total Long-term assets	3,092
U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	17,155
Long-term assets
Total Long-term assets	1,243
Cost [Member]
Available-for-sale marketable securities:
Total Current Assets	34,548
Long-term assets
Total Long-term assets	4,383
Total Available for sale Marketable Securities, Total	38,931
Cost [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	17,362
Long-term assets
Total Long-term assets	3,133
Cost [Member] | U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	17,186
Long-term assets
Total Long-term assets	1,250
Unrealized gain [Member]
Available-for-sale marketable securities:
Total Current Assets	3
Long-term assets
Total Available for sale Marketable Securities, Total	3
Unrealized gain [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	3
Unrealized loss [Member]
Available-for-sale marketable securities:
Total Current Assets	(111)
Long-term assets
Total Long-term assets	(48)
Total Available for sale Marketable Securities, Total	(159)
Unrealized loss [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	(80)
Long-term assets
Total Long-term assets	(41)
Unrealized loss [Member] | U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	(31)
Long-term assets
Total Long-term assets	$ (7)

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of fair value of the warrant liabilities is estimated using the Black-Scholes option pricing model (Details) - USD ($)		9 Months Ended		12 Months Ended
	May 23, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected volatility		68.10%	55%
Risk-free interest rate		4.10%	3.20%
Expected term (in years)		6 years	7 years
Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected volatility, minimum	68%			70%
Expected volatility, maximum	70%			76%
Risk-free interest rate, minimum	4.10%			4.22%
Risk-free interest rate, maximum	4.28%			4.34%
Fair value of Series C convertible preferred stock	$ 1,890			$ 1,820
Minimum [Member] | Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected term (in years)	2 years			2 years 4 months 24 days
Maximum [Member] | Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected term (in years)	2 years 7 months 6 days			3 years

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of changes in fair value of preferred stock warrant liability (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Changes In Fair Value Of The Company S Preferred Stock Warrant Liability Abstract
Balance at beginning		$ 1,507	$ 487
Change in fair value		501	1,020
Exercise of warrants	$ (2,008)	$ (2,008)
Balance at ending			$ 1,507

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Summary of the changes in fair value of the Company's Level 3 financial instruments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
fSight
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at inception	$ 2,167
Change in fair value	29
Transfer out of level 3	(2,196)
Derivative Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at inception	23,525
Change in fair value	(12,247)
Transfer out of level 3	$ (11,278)

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Schedule of fair value of the derivative liabilities is estimated using the Black-Scholes option pricing model (Details)			9 Months Ended
		Sep. 24, 2023	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected volatility			68.10%	55%
Risk-free interest rate			4.10%	3.20%
Expected term (in years)			6 years	7 years
Derivative Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected volatility	[1]	58.60%
Risk-free interest rate	[1]	4.90%
Expected term (in years)	[1]	2 years 3 months 18 days
[1] The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment.

Fair Value of Financial Instr_9

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value	$ 58.1	$ 21
Carrying value	$ 29.3	$ 20.6

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenue Net by Major Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 17,104	$ 22,824	$ 135,988	$ 50,382
EMEA
Disaggregation of Revenue [Line Items]
Total revenue, net	10,241	13,999	105,595	30,861
Americas
Disaggregation of Revenue [Line Items]
Total revenue, net	3,576	6,681	21,776	15,818
APAC
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 3,287	$ 2,144	$ 8,617	$ 3,703

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Deferred Revenue and Product Warranties Disclosures [Abstract]
Balance at the beginning of the period	$ 623	$ 1,102	$ 1,122	$ 451
Deferral of revenue	4,673	5,347	27,842	12,200
Recognition of unearned revenue	(4,840)	(5,770)	(28,508)	(11,972)
Balance at the end of the period	$ 456	$ 679	$ 456	$ 679

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Deferred Revenue and Product Warranty [Line Items]
Recognized revenue, contract liabilities	$ 0	$ 0	$ 900,000	$ 200,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Deferred Revenue and Product Warranty [Line Items]
Remaining performance obligations	$ 500,000		$ 500,000
Remaining performance obligations over a weighted average term	3 years 2 months 12 days		3 years 2 months 12 days
Maximum
Deferred Revenue and Product Warranty [Line Items]
Warranty period			25 years
Minimum [Member]
Deferred Revenue and Product Warranty [Line Items]
Warranty period			5 years

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Changes in Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Deferred Revenue and Product Warranties Disclosures [Abstract]
Balance at the beginning of the period	$ 5,493	$ 3,662	$ 4,351	$ 3,393
Provision for warranty	460	321	1,810	629
Warranty usage	(146)	(66)	(354)	(105)
Balance at the end of the period	$ 5,807	$ 3,917	$ 5,807	$ 3,917

Selected Financial Data - Summa

Selected Financial Data - Summary of Selected Financial Data (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 1,063	$ 1,869
Work in process		31
Finished goods	57,448	23,293
Inventory reserve	(1,074)	(278)
Inventory, net	$ 57,437	$ 24,915

Selected Financial Data - Sum_2

Selected Financial Data - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,546	$ 4,844
Less: Accumulated depreciation	3,783	3,192
Property and equipment, net	2,763	1,652
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,297	3,881
Estimated Useful Life	7 years
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 31	31
Estimated Useful Life	5 years
Computer Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 201	185
Estimated Useful Life	5 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 571	526
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 208	179
Estimated Useful Life	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 236	$ 42
Leasehold Improvements | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Leasehold Improvements | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	6 years
Construction in Progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2

Selected Financial Data - Addit

Selected Financial Data - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 0.2	$ 0.2	$ 0.6	$ 0.4

Selected Financial Data - Sched

Selected Financial Data - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Accrued vacation		$ 1,009	$ 829
Accrued compensation		1,647	624
Accrued interest		583	9
Accrued professional fees		911	2,502
Accrued warehouse and freight		1,093	143
Accrued other		1,443	275
Other current liabilities	[1]	1,995
Accrued expenses and other current liabilities		$ 8,681	$ 4,382
[1] Other current liabilities of $ 2.0 million for the period ended September 30, 2023 , are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Selected Financial Data - Sch_2

Selected Financial Data - Schedule of Accrued Expenses and Other Current Liabilities (Details) (Parenthetical) $ in Thousands	Sep. 30, 2023 USD ($)
Accrued Liabilities and Other Liabilities [Abstract]
Other current liabilities	$ 1,995	[1]
[1] Other current liabilities of $ 2.0 million for the period ended September 30, 2023 , are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2023
Debt Instrument [Line Items]
Convertible Promissory Note		$ 50,000
Series 2022-1 Notes	$ 20,833
Total	20,833	50,000
Less: unamortized debt discount and issuance costs	(191)	(20,666)
Less: current portion	(10,000)
Long-term debt, net of unamortized debt discount and current portion	$ 10,642	$ 29,334

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 09, 2023	Jan. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 24, 2023	Jan. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Cash received from promissory note purchase agreement	$ 50,000,000
Convertible promissory note, interest rate	5%
Convertible promissory note, maturity date					Jan. 09, 2026
Convertible promissory note, frequency of periodic payment					interest is payable semiannually beginning July 2023.
Convertible promissory note conversion, description					the Convertible Promissory Note may be converted at the option of the note holder into shares of 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.
Accrued interest					$ 600,000
Debt discount			$ 23,500,000		23,500,000
Convertible note derivative liability							$ 11,300,000
Other Long-Term Debt			23,900,000		23,900,000				$ 200,000
Amortization of debt issuance cost interest expense			$ 2.2	$ 100,000	$ 3,200,000	$ 200,000
Series 2022-1 Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs								$ 200,000
Senior Bonds
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 500,000
Lender fees		$ 3,100,000

Long-Term Debt - Schedule of Fu

Long-Term Debt - Schedule of Future Aggregate Principal Maturities of Long-Term Debt (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
2026	$ 50,000
Long-Term Debt, Total	$ 50,000

Common Stock and Convertible _3

Common Stock and Convertible Preferred Stock - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 08, 2023	May 23, 2023	Sep. 08, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Aug. 09, 2023	May 24, 2023	Jan. 25, 2023
Class of Stock [Line Items]
Common stock issued (in Shares)				58,733,366						58,733,366		5,469,921			5,598,751
Common stock, outstanding				58,733,366						58,733,366		5,469,921
Common stock, par value				$ 0.0001						$ 0.0001		$ 0.0001
Common stock voting right										Each share of Common Stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.
Common stock, authorized				150,000,000						150,000,000		60,667,100
Warrants exercised				324,546						324,546
Convertible preferred stock, shares outstanding				0						0
Gross proceeds											$ 40,978,000
Business acquisition shares exchange ratio				0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%		0.23334%
Warrant Agreement
Class of Stock [Line Items]
Warrants exercised			324,546
Payments for remaining warrants	$ 100,000		$ 3,700,000
Redemption price per share													$ 0.01
Common stock price per share													$ 18
Convertible Preferred Stock
Class of Stock [Line Items]
Warrants to purchase shares		828,733
Legacy Warrants
Class of Stock [Line Items]
Number of warrants outstanding				0						0		1,915,372
Warrants exercised				1,915,372						1,915,372
Issuance of common stock from exercise of warrants				1,491,229						1,491,229
Public Warrants
Class of Stock [Line Items]
Number of warrants outstanding		5,750,000
Warrants to purchase shares		1
Exercise price		$ 11.5
Public Warrants | Private Placement
Class of Stock [Line Items]
Number of warrants outstanding		18,750
Private Warrants
Class of Stock [Line Items]
Warrants to purchase shares		1
Exercise price		$ 11.5
Series E Convertible Preferred Stock
Class of Stock [Line Items]
Convertible preferred stock sold							7,832,394				7,832,394
Gross proceeds											$ 41,000,000
Issuance costs										$ 100,000
Series C Convertible Preferred Stock of Legacy Tigo
Class of Stock [Line Items]
Warrants to purchase shares		1,064,446
Convertible Preferred Stock Warrants
Class of Stock [Line Items]
Number of warrants outstanding				0						0
Legacy Tigo Energy
Class of Stock [Line Items]
Shares of Common Stock issued to holders of convertible preferred stock		$ 47,918,992
Roth CH Acquisition IV Co.
Class of Stock [Line Items]
Common stock issued (in Shares)														58,144,543
Common stock, outstanding														58,144,543
Number of warrants outstanding														5,768,750
Business acquisition shares exchange ratio		0.23334%
Former Stockholders of ROCG
Class of Stock [Line Items]
Common stock issued (in Shares)				1,700,498						1,700,498
Roth Capital Partners, LLC.
Class of Stock [Line Items]
Common stock issued (in Shares)				118,021						118,021

Common Stock and Convertible _4

Common Stock and Convertible Preferred Stock - Schedule of Shares of Common Stock Reserved for Future Issuance (Details)	Sep. 30, 2023 shares
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	16,296,952
Stock Options Issued and Outstanding
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	5,145,445
Restricted Stock Units Issued and Outstanding
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	938,771
Shares Available for Potential Conversion of L1 Convertible Note
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	5,305,437
Shares Available for fSight Contingent Shares
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	258,033
Shares Available for Grant under 2023 Equity Incentive Plan
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	4,649,266

Common Stock and Convertible _5

Common Stock and Convertible Preferred Stock - Schedule of convertible preferred stock (Details) $ in Thousands	Dec. 31, 2022 USD ($) shares
Class of Stock [Line Items]
Shares Authorized | shares	47,484,663
Shares Issued and Outstanding | shares	46,467,565
Carrying Value | $	$ 87,140
Aggregate Liquidation Preference | $	$ 131,207
Series E
Class of Stock [Line Items]
Shares Authorized | shares	8,601,120
Shares Issued and Outstanding | shares	7,832,394
Carrying Value | $	$ 40,770
Aggregate Liquidation Preference | $	$ 45,371
Series D
Class of Stock [Line Items]
Shares Authorized | shares	11,513,253
Shares Issued and Outstanding | shares	11,513,253
Carrying Value | $	$ 22,192
Aggregate Liquidation Preference | $	$ 29,831
Series C-1
Class of Stock [Line Items]
Shares Authorized | shares	9,020,682
Shares Issued and Outstanding | shares	9,020,682
Carrying Value | $	$ 2,180
Aggregate Liquidation Preference | $	$ 18,000
Series C
Class of Stock [Line Items]
Shares Authorized | shares	6,318,524
Shares Issued and Outstanding | shares	6,070,151
Carrying Value | $	$ 11,647
Aggregate Liquidation Preference | $	$ 13,442
Series B-4
Class of Stock [Line Items]
Shares Authorized | shares	7,172,501
Shares Issued and Outstanding | shares	7,172,501
Carrying Value | $	$ 7,582
Aggregate Liquidation Preference | $	$ 11,199
Series B-3
Class of Stock [Line Items]
Shares Authorized | shares	1,546,441
Shares Issued and Outstanding | shares	1,546,441
Carrying Value | $	$ 862
Aggregate Liquidation Preference | $	$ 2,620
Series B-2
Class of Stock [Line Items]
Shares Authorized | shares	174,208
Shares Issued and Outstanding | shares	174,208
Carrying Value | $	$ 105
Aggregate Liquidation Preference | $	$ 340
Series B-1
Class of Stock [Line Items]
Shares Authorized | shares	1,863,215
Shares Issued and Outstanding | shares	1,863,215
Carrying Value | $	$ 611
Aggregate Liquidation Preference | $	$ 2,918
Series A-4
Class of Stock [Line Items]
Shares Authorized | shares	570,976
Shares Issued and Outstanding | shares	570,976
Carrying Value | $	$ 661
Aggregate Liquidation Preference | $	$ 4,182
Series A-3
Class of Stock [Line Items]
Shares Authorized | shares	466,245
Shares Issued and Outstanding | shares	466,245
Carrying Value | $	$ 260
Aggregate Liquidation Preference | $	$ 1,604
Series A-2
Class of Stock [Line Items]
Shares Authorized | shares	149,281
Shares Issued and Outstanding | shares	149,281
Carrying Value | $	$ 160
Aggregate Liquidation Preference | $	$ 1,021
Series A-1
Class of Stock [Line Items]
Shares Authorized | shares	88,216
Shares Issued and Outstanding | shares	88,216
Carrying Value | $	$ 110
Aggregate Liquidation Preference | $	$ 679

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield percentage							0%
Stock options percentage							110%
Common stock options exercises shares (in Shares)							1,458
Shares reserved for future issuance	16,296,952						16,296,952
Aggregate intrinsic value (in Dollars)	$ 16,304						$ 16,304
Stock options, Options exercises							415,615
Unrecognized compensation expense (in Dollars)							$ 11,900
Weighted-average period							3 years 4 months 24 days
Aggregate intrinsic value of outstanding options	$ 21,683						$ 21,683
Business acquisition shares exchange ratio	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance	938,771						938,771
Fair value options per share (in Dollars per share)	$ 11.39						$ 11.39
Unrecognized compensation expense, total	$ 10,200						$ 10,200
Stock-based compensation expense, recognition period							2 years 8 months 12 days
2008 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Capital stock percentage							10%
Capital stock duration							10 years
2018 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Capital stock percentage							10%
Capital stock duration							10 years
Stock options percentage							100%
2023 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted shares (in Shares)							1,170,685
Stock options vesting period							4 years
Stock options vesting percentage							25%
Stock options, Options vested							0
Stock options, Options exercises							0
2023 Plan | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted shares (in Shares)							938,771
Stock options vesting period							4 years
Stock options vesting percentage							25%
Stock options, Options vested							0
Stock options, Options exercises							0
2008, 2018 Stock Plan and the 2023 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance	4,649,266						4,649,266

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of condensed consolidated statements of operations and comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 1,274	$ 341	$ 2,137	$ 393
Research and Development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	180	67	292	79
Sales and Marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	455	97	901	106
Cost of Sales
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	59	30	113	35
General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 580	$ 147	$ 831	$ 173

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of table summarizes stock option activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Outstanding | shares	4,269,402
Number of shares, Outstanding, Granted | shares	1,489,681
Number of shares, Outstanding, Exercised | shares	(415,615)
Number of shares, Outstanding, Cancelled | shares	(198,023)
Number of shares, Outstanding | shares	5,145,445
Number of shares, Exercisable | shares	2,625,266
Number of shares, Vested and expected to vest | shares	5,145,445
Weighted average exercise price per share, Outstanding | $ / shares	$ 1.08
Weighted average exercise price per share, Granted | $ / shares	10.54
Weighted average exercise price per share, Exercised | $ / shares	0.46
Weighted average exercise price per share, Cancelled | $ / shares	2.56
Weighted average exercise price per share, Outstanding | $ / shares	3.81	$ 1.08
Weighted average exercise price per share, Exercisable | $ / shares	0.8
Weighted average exercise price per share, Vested and expected to vest | $ / shares	$ 3.81
Weighted average remaining contractual term (years), Outstanding at ending	6 years 7 months 9 days	6 years 25 days
Weighted average remaining contractual term (years), Exercisable	4 years 3 months 14 days
Weighted average remaining contractual term (years), Vested and expected to vest	6 years 7 months 9 days
Aggregate intrinsic value, Outstanding | $	$ 21,683
Aggregate intrinsic value, Exercisable | $	$ 16,304

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions (Details)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	68.10%	55%
Risk-free interest rate	4.10%	3.20%
Expected term (in years)	6 years	7 years

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Granted | shares	938,771
Number of shares, Outstanding at September 30, 2023 | shares	938,771
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 11.39
Weighted average grant date fair value, Outstanding at September 30, 2022 | $ / shares	$ 11.39

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Lease term	12 months
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term	7 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 325	$ 802
Variable lease costs	99	234
Total lease cost	$ 424	$ 1,036

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in the measurement of lease liabilities	$ 2,187
Weighted average remaining lease term (years)	3 years	2 years 8 months 12 days
Weighted average discount rate	5%	5.40%

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 328
2024	1,300
2025	549
2026	385
2027	335
Thereafter	64
Total	2,961
Less: imputed interest	230
Present value of lease liabilities	$ 2,731

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill balance	$ 13,100,000		$ 13,100,000
Intangible assets	2,260,000		2,260,000		$ 0
Amortization of intangible assets	$ 100,000	$ 0
Acquired intangible assets			$ 200,000	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets by Major Asset Class (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,440
Accumulated Amortization	(180)
Net Book Value	$ 2,260
Patents
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	6 years 8 months 12 days
Gross	$ 450
Accumulated Amortization	(48)
Net Book Value	$ 402
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Gross	$ 170
Accumulated Amortization	(11)
Net Book Value	$ 159
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Gross	$ 1,820
Accumulated Amortization	(121)
Net Book Value	$ 1,699

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Amortization Expense Related to Intangible Assets (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 70
2024	270
2025	270
2026	270
2027	262
Thereafter	1,118
Total	$ 2,260

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense and valuation allowances	$ 11,100,000
Income tax expense benefit	$ 10,962,000	$ 0	$ 29,000	$ 0
Effective tax rates	27.40%	0%	0%	0%
U.S. federal income tax rate	21%	21%	21%	21%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Related Party Transaction [Line Items]
Repaid amount	$ 0.1