Tigo Energy (TYGO) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
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		60,477,864

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 14,943	$ 4,405
Restricted cash	200
Marketable securities, short-term	5,214	26,806
Accounts receivable, net of allowances for credit losses of $2,570 and $4,011 at June 30, 2024, and December 31, 2023, respectively	6,917	6,862
Inventory	51,311	61,401
Prepaid expenses and other current assets	4,509	5,236
Total current assets	83,094	104,710
Property and equipment, net	3,191	3,458
Operating right-of-use assets	2,010	2,503
Marketable securities, long-term		1,977
Intangible assets, net	2,057	2,192
Other assets	768	728
Goodwill	12,209	12,209
Total assets	103,329	127,777
Current liabilities:
Accounts payable	7,085	15,685
Accrued expenses and other current liabilities	6,639	8,681
Deferred revenue, current portion	275	335
Warranty liability, current portion	539	526
Operating lease liabilities, current portion	936	1,192
Total current liabilities	15,474	26,419
Warranty liability, net of current portion	5,238	5,106
Deferred revenue, net of current portion	704	466
Long-term debt, net of unamortized debt discount and issuance costs	36,040	31,570
Operating lease liabilities, net of current portion	1,133	1,392
Total liabilities	58,589	64,953
Commitments and Contingencies (see Note 10)
Stockholders' equity
Common stock, $0.0001 par value: 150,000,000 authorized; 60,371,987 and 58,751,666 shares issued and outstanding at June 30, 2024, and December 31, 2023, respectively	6	6
Additional paid-in capital	143,364	138,657
Accumulated deficit	(98,607)	(75,780)
Accumulated other comprehensive loss	(23)	(59)
Total stockholders' equity	44,740	62,824
Total liabilities and stockholders' equity	$ 103,329	$ 127,777

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jan. 25, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net for allowance of credit losses (in Dollars)	$ 2,570	$ 4,011		$ 76
Convertible preferred stock shares, authorized	10,000,000
Convertible preferred stock shares, outstanding	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	150,000,000	150,000,000
Common stock issued (in Shares)	60,371,987	58,751,666	5,598,751
Common stock, outstanding	60,371,987	58,751,666

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net revenue	$ 12,701,000	$ 68,826,000	$ 22,503,000	$ 118,884,000
Cost of revenue	8,834,000	42,920,000	15,870,000	74,609,000
Gross profit	3,867,000	25,906,000	6,633,000	44,275,000
Operating expenses:
Research and development	2,704,000	2,424,000	5,175,000	4,638,000
Sales and marketing	4,055,000	5,163,000	8,658,000	9,935,000
General and administrative	5,511,000	9,654,000	10,291,000	13,217,000
Total operating expenses	12,270,000	17,241,000	24,124,000	27,790,000
(Loss) income from operations	(8,403,000)	8,665,000	(17,491,000)	16,485,000
Other expenses (income):
Change in fair value of preferred stock warrant and contingent shares liability	41,000	2,608,000	(155,000)	3,120,000
Change in fair value of derivative liability		38,251,000		38,251,000
Loss on debt extinguishment				171,000
Interest expense	2,862,000	1,587,000	5,688,000	2,365,000
Other income, net	(1,000)	(672,000)	(213,000)	(1,223,000)
Total other expenses, net	2,902,000	41,774,000	5,320,000	42,684,000
Loss before income tax expense	(11,305,000)	(33,109,000)	(22,811,000)	(26,199,000)
Income tax expense (benefit)	16,000	(10,933,000)	16,000	(10,933,000)
Net loss	(11,321,000)	(22,176,000)	(22,827,000)	(15,266,000)
Unrealized gain (loss) resulting from change in fair value of marketable securities	24,000	(195,000)	36,000	(181,000)
Comprehensive loss	(11,297,000)	(22,371,000)	(22,791,000)	(15,447,000)
Cumulative dividends on convertible preferred stock		(1,248,000)		(3,399,000)
Net loss attributable to common stockholders	$ (11,321,000)	$ (23,424,000)	$ (22,827,000)	$ (18,665,000)
Loss per common share
Basic	$ (0.19)	$ (0.84)	$ (0.38)	$ (1.09)
Diluted	$ (0.19)	$ (0.84)	$ (0.38)	$ (1.09)
Weighted-average shares of common stock outstanding
Basic	60,363,680	27,750,374	59,874,991	17,174,936
Diluted	60,363,680	27,750,374	59,874,991	17,174,936

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands		Total	Convertible Preferred Stock	Preferred Stock Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive (loss) Income
Balance, before retroactive conversion		$ (55,692)		$ 87,140	$ 2	$ 6,521	$ (62,215)	$ 0
Retroactive application					$ (1)	1
Retroactive application, shares	[1]			(152,677,720)	(17,972,432)
Balance, before retroactive conversion, shares	[1]			199,145,285	23,442,353
Beginning balance at Dec. 31, 2022		(55,692)		$ 87,140	$ 1	6,522	(62,215)	0
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
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)	0
Beginning balance, shares at Dec. 31, 2022	[1]			46,467,565	5,469,921
Net income (loss)		(15,266)
Ending balance, shares at Jun. 30, 2023	[1]			0	58,144,543
Ending balance at Jun. 30, 2023		30,434		$ 0	$ 6	120,671	(90,062)	(181)
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
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
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					1,818,519
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]			0	58,144,543
Ending balance at Jun. 30, 2023		30,434		$ 0	$ 6	120,671	(90,062)	(181)
Beginning balance at Dec. 31, 2023		62,824			$ 6	138,657	(75,780)	(59)
Beginning balance, shares at Dec. 31, 2023					58,751,666
Issuance of common stock upon exercise of stock options		250				250
Issuance of common stock upon exercise of stock options, shares					755,016
Stock-based compensation expense		2,505				2,505
Issuance of common stock in connection with the acquisition of fSight, shares					166,271
Issuance of common stock in connection with the acquisition of fSight		239				239
Issuance of common stock in connection with employee incentive stock awards, shares					685,213
Unrealized gain (loss) resulting from change in fair value of marketable securities		12						12
Net income (loss)		(11,506)					(11,506)
Ending balance, shares at Mar. 31, 2024					60,358,166
Ending balance at Mar. 31, 2024		54,324			$ 6	141,651	(87,286)	(47)
Beginning balance at Dec. 31, 2023		$ 62,824			$ 6	138,657	(75,780)	(59)
Beginning balance, shares at Dec. 31, 2023					58,751,666
Issuance of common stock upon exercise of stock options, shares		768,837
Net income (loss)		$ (22,827)
Ending balance, shares at Jun. 30, 2024					60,371,987
Ending balance at Jun. 30, 2024		44,740			$ 6	143,364	(98,607)	(23)
Beginning balance at Mar. 31, 2024		54,324			$ 6	141,651	(87,286)	(47)
Beginning balance, shares at Mar. 31, 2024					60,358,166
Issuance of common stock upon exercise of stock options		10				10
Issuance of common stock upon exercise of stock options, shares					13,821
Stock-based compensation expense		1,703				1,703
Unrealized gain (loss) resulting from change in fair value of marketable securities		24						24
Net income (loss)		(11,321)					(11,321)
Ending balance, shares at Jun. 30, 2024					60,371,987
Ending balance at Jun. 30, 2024		$ 44,740			$ 6	$ 143,364	$ (98,607)	$ (23)
[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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business acquisition shares exchange ratio	23.3335%	23.3335%	23.3335%	23.3335%

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating activities:
Net loss	$ (22,827)	$ (15,266)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	612	536
Reserve for inventory obsolescence	458	410
Change in fair value of preferred stock warrant and contingent shares liability	(155)	3,120
Change in fair value of derivative liability		38,251
Deferred tax benefit		(11,147)
Non-cash interest expense	4,470	982
Stock-based compensation	4,208	863
Allowance for credit losses	(1,434)	170
Loss on debt extinguishment		171
Non-cash lease expense	619	415
Accretion of interest on marketable securities	(163)	(204)
Changes in operating assets and liabilities:
Accounts receivable	1,379	(30,057)
Inventory	9,632	(26,134)
Prepaid expenses and other assets	687	167
Accounts payable	(8,392)	30,254
Accrued expenses and other liabilities	(1,648)	2,267
Deferred revenue	178	(500)
Warranty liability	145	1,142
Operating lease liabilities	(641)	(374)
Net cash used in operating activities	(12,872)	(4,934)
Investing activities:
Purchase of marketable securities		(50,221)
Acquisition of fSight		(16)
Purchase of intangible assets		(450)
Purchase of property and equipment	(418)	(1,510)
Disposals of property and equipment		73
Sales and maturities of marketable securities	23,768
Net cash provided by (used in) investing activities	23,350	(52,124)
Financing activities:
Proceeds from Convertible Promissory Note		50,000
Repayment of from Series 2022-1 Notes		(20,833)
Payment of financing costs		(354)
Proceeds from Business Combination		2,238
Proceeds from exercise of stock options	260	106
Payment of tax withholdings on stock options		(91)
Net cash provided by financing activities	260	31,066
Net increase (decrease) in cash, cash equivalents and restricted cash	10,738	(25,992)
Cash, cash equivalents, and restricted cash at beginning of period	4,405	37,717
Cash, cash equivalents, and restricted cash at end of period	15,143	11,725
Supplemental disclosure of cash flow information:
Cash paid for interest	1,250	168
Cash paid for income taxes	373	53
Supplemental schedule of non-cash investing and financing activities:
Operating lease right of use assets obtained in exchange for operating lease liabilities	126	1,973
Property and equipment in accounts payable	31	297
Non-cash consideration paid for the acquisition of fSight	239	10,974
Contingent shares liability from fSight acquisition	132	2,167
Unrealized gain (loss) resulting from change in fair value of marketable securities	$ 36	(181)
Net assets acquired from ROCG		573
Fair value of derivative note liability at issuance		23,525
Convertible preferred stock dividends (Note 3)		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

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2024
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.) and subsidiaries (together, the “Company”) consists of Tigo Energy, Inc. (“Tigo”), its wholly-owned direct subsidiary: Tigo Energy MergeCo, Inc. (f/k/a Tigo Energy, Inc.) (“Legacy Tigo”), and its wholly-owned indirect subsidiaries: Tigo Energy Israel Ltd., Foresight Energy, Ltd. (“fSight”), Tigo Energy Italy SRL, Tigo Energy Systems Trading (Suzhou) and Tigo Energy Australia Pty Ltd. Prior to the consummation of the Business Combination (as defined below), the operations of the Company were conducted through Legacy Tigo. Legacy Tigo was incorporated in Delaware in 2007 and commenced operations in 2010. The Company provides solar and energy storage solutions, including module level power electronics (“MLPE”) designed to maximize the energy output of individual solar modules, delivering more energy, active management, and enhanced safety for utility, commercial, and residential solar arrays. The Company is headquartered in Campbell, California with offices in Europe, Asia and the Middle East. 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”). The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Pursuant to the Business Combination, the merger between ROCG and Legacy Tigo was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, ROCG was treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Legacy Tigo issuing stock for the net assets of ROCG, accompanied by a recapitalization. The net assets of ROCG are stated at historical cost, with no goodwill or other intangible assets recorded. The consolidated assets, liabilities and results of operations prior to the Reverse Recapitalization are those of Legacy Tigo. The shares and corresponding capital amounts and earnings per share available for common stockholders, prior to the Closing Date, have been retroactively recasted as shares reflecting the exchange ratio established in the Business Combination. Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination. The Company has determined the functional currency of the subsidiaries to be the U.S. dollar. The Company remeasures monetary assets and liabilities of its foreign operations at exchange rates in effect at the balance sheet date and nonmonetary assets and liabilities at their historical exchange rates. Expenses are remeasured at the weighted-average exchange rates during the relevant reporting period. These remeasurement gains and losses are recorded in other income, net in the condensed consolidated statements of operations and comprehensive loss and were not material for the three and six months ended June 30, 2024, and 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly Tigo’s condensed consolidated balance sheet as of June 30, 2024 and its condensed consolidated statements of operations and comprehensive loss, cash flows, and convertible preferred stock and changes stockholders’ equity (deficit) for the three and six months ended June 30, 2024, and 2023. Operating results for the three and six months ended June 30, 2024 , are not necessarily indicative of the results that may be expected for the full year ending December 31, 2024. The unaudited condensed consolidated financial statements, presented herein, do not contain all of the required disclosures under GAAP for annual consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2023, has been derived from the audited consolidated balance sheet as of that date. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 21, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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, 2023, which are included in the Company’s Annual Report on Form 10-K filed with the SEC on March 21, 2024. 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. 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, provisions for warranty and expected credit losses, inventory obsolescence, sales returns, future price concessions, valuation allowances and the estimated useful lives of plant and equipment and acquired intangible assets. Actual results may materially differ from these estimates. On an ongoing basis, the Company reviews its estimates to ensure that these estimates appropriately reflect changes in its business or new information as it becomes available. Recently Issued Accounting Pronouncements not yet Adopted In November 2023, the FASB issued ASU No. 2023-07 , Improvements to Reportable Segment Disclosures (Topic 280) . This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740) . This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024, although retrospective application is permitted. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2025. In March 2024, the SEC adopted final rules that would require registrants to provide certain climate-related information in their registration statements and annual reports. The new rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The rules also require disclosure of certain climate-related financial metrics in registrant’s audited financial statements, and, for certain registrants, disclosure regarding such registrant’s greenhouse gas emissions. In April 2024, the SEC voluntarily stayed the rules pending completion of a judicial review that is currently pending in the U.S. Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of these rules on the Company’s financial statements and related disclosures.

Merger with Roth CH Acquisition

Merger with Roth CH Acquisition IV Co.	6 Months Ended
	Jun. 30, 2024
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. 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. 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.	6 Months Ended
	Jun. 30, 2024
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 $ 13.2 million which consisted of 5,598,751 shares of Legacy Tigo’s common stock (which represents 1,306,385 shares of Common Stock on an as-converted basis as a result of the Business Combination) issued at closing with a fair value of approximately $ 11.0 million, 737,233 shares of Legacy Tigo’s common stock (which represents 172,022 shares of Common Stock on an as-converted basis as a result of the Business Combination) with a fair value of approximately $ 1.4 million to be issued 12 months from closing and 368,617 shares of Legacy Tigo’s common stock (which represents 86,011 shares of Common Stock on an as-converted basis as a result of the Business Combination) 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”). 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. 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. During the year ended December 31, 2023, there was an adjustment recorded against the Contingent Shares related to an unrecorded liability that was not present as of the opening balance sheet date of January 25, 2023, and the number of Contingent Shares was adjusted downward by 5,745 shares to reflect this change. As of December 31, 2023, there was a total of up to 252,288 Contingent Shares that may be issued pursuant to the terms of the purchase agreement. 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. On January 25, 2024, consistent with the terms of the purchase agreement, the Company issued the 12-month tranche of Contingent Shares, 166,271 shares of its Common Stock, to certain former equity holders of fSight. At January 25, 2024, the liability was revalued to $ 0.4 million based upon the Company’s Common Stock fair value per share at that date. A mark-to-market gain of $ 0.2 million was recorded upon the remeasurement at January 25, 2024. Upon issuance of the 12-month tranche of Contingent Shares on January 25, 2024, the Company reduced the liability by the fair value associated with the 12-month tranche of Contingent Shares by $ 0.2 million and subsequently recorded an increase to additional paid-in capital on the Company’s condensed consolidated balance sheet. As of June 30, 2024, there was a total of up to 86,017 Contingent Shares that may be issued pursuant to the terms of the purchase agreement. At June 30, 2024, the remaining liability was revalued to $ 0.1 million based upon the Company’s Common Stock fair value per share on June 28, 2024, the last trading day of the reporting period. For the three months ended June 30, 2024, and 2023, the Company recognized a $ 40,000 and $ 2.2 million mark-to-market expense, respectively. For the six months ended June 30, 2024, and 2023, the Company recognized a $ 0.2 million mark-to-market gain and $ 2.4 million mark-to-market expense, respectively. Mark-to-market expense and gains are recorded in the change in fair value of preferred stock warrant and contingent share liability financial statement line item within the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2024, and 2023. 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 six months ended June 30, 2023 . The Company did no t incur any expense associated with acquisition-related costs during the three and six months ended June 30, 2024. The acquisition-related costs, which were expensed as incurred, are recorded in general and administrative expenses on the condensed consolidated statement of operations and comprehensive loss. The assets acquired and liabilities assumed were recorded at fair value as follows (in thousands): Consideration transferred: 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 12,209 Total assets acquired $ 14,380 Liabilities assumed: Accounts payable $ 418 Accrued expenses 294 Net assets acquired $ 13,668 Supplemental Pro Forma Information (Unaudited) The following table presents supplemental pro-forma information for the three and six months ended June 30, 2023, 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. (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net revenue $ 68,894 $ 118,952 Net loss $ ( 22,322 ) $ ( 15,412 ) Supplemental Information of Operating Results The following table presents supplemental pro-forma information on the net revenue and net loss attributable to fSight included within the Company’s condensed consolidated statement of operations and comprehensive loss. (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net revenue $ 158 $ 242 Net loss $ ( 299 ) $ ( 556 )

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	5. Net Loss Per Share Basic net loss per share of common stock is computed by dividing net 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 loss per share of common stock is computed by dividing the net 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 loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Under the two-class method, net loss for the three and six months ended June 30, 2023, 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 are 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 loss per share to common stockholders: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Basic net loss per common share calculation: Net loss $ ( 11,321 ) $ ( 22,176 ) $ ( 22,827 ) $ ( 15,266 ) Undistributed earnings to preferred stock stockholders — ( 1,248 ) - ( 3,399 ) Net loss attributable to common stockholders – basic $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Weighted-average shares of common stock outstanding – basic 60,363,680 27,750,374 59,874,991 17,174,936 Net loss per share of common stock – basic $ ( 0.19 ) $ ( 0.84 ) $ ( 0.38 ) $ ( 1.09 ) Diluted net loss per common share calculation: Net loss attributable to common stockholders - basic $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Net loss attributable to common stockholders - diluted $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Weighted-average shares of common stock outstanding – basic 60,363,680 27,750,374 59,874,991 17,174,936 Weighted-average shares of common stock – diluted 60,363,680 27,750,374 59,874,991 17,174,936 Net loss per share of common stock – diluted $ ( 0.19 ) $ ( 0.84 ) $ ( 0.38 ) $ ( 1.09 ) The Company excluded the effect of the below elements from our calculation of diluted 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 June 30, 2024 2023 Common stock warrants — 5,768,750 Outstanding stock options and restricted stock units 3,267,452 4,649,864 Convertible promissory note 5,305,861 5,454,545 8,573,313 15,873,159

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
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 reporting date (in thousands) (Level 1) (Level 2) (Level 3) June 30, 2024 Assets: Cash equivalents: Money market accounts $ 11,849 $ — $ — Marketable securities: Corporate bonds $ — $ 4,565 $ — U.S. agency securities $ — $ 649 $ — Liabilities: Contingent shares liability from fSight acquisition $ 132 $ — $ — December 31, 2023 Assets: Cash equivalents: Money market accounts $ 1,646 $ — $ — Marketable securities: Corporate bonds $ — $ 19,489 $ — U.S. agency securities $ — $ 9,294 $ — Liabilities: Contingent shares liability from fSight acquisition $ 527 $ — $ — During the three and six months ended June 30, 2024 , there were no transfers between Level 1, Level 2 and Level 3. The following is a summary of the changes in fair value of the Company’s marketable securities as of June 30, 2024, and December 31, 2023, respectively: As of June 30, 2024 (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 4,586 $ — $ ( 21 ) $ 4,565 U.S. agency securities 651 — $ ( 2 ) 649 Total 5,237 — ( 23 ) 5,214 As of December 31, 2023 (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 17,561 $ 2 $ ( 52 ) $ 17,511 U.S. agency securities 9,300 2 $ ( 7 ) 9,295 Total 26,861 4 ( 59 ) 26,806 Long-term assets Corporate bonds 1,981 3 ( 7 ) 1,977 Total 1,981 3 ( 7 ) 1,977 Total available-for-sale marketable securities $ 28,842 $ 7 $ ( 66 ) $ 28,783 As of June 30, 2024, all available-for-sale marketable securities consisted of investments that mature within one year. 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 June 30, 2024, the fair value and carrying value of the Company’s Convertible Promissory Note (Note 9) was $ 35.8 million and $ 36.0 million, respectively. As of December 31, 2023, the fair value and carrying value of the Company’s Series 2022-1 Notes was $ 58.1 million and $ 31.6 million, respectively. The estimated fair value for the Company’s Convertible Promissory Note 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	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Revenue Recognition	7. Revenue Recognition Geographic Net Revenue 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 net revenue by major geographic region: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 EMEA $ 6,998 $ 55,096 $ 12,787 $ 95,355 Americas 2,835 11,167 5,572 18,199 APAC 2,868 2,563 4,144 5,330 Total net revenue $ 12,701 $ 68,826 $ 22,503 $ 118,884 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 June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Balance at the beginning of the period $ 1,051 $ 1,608 $ 801 $ 1,122 Deferral of revenue 2,949 10,971 4,615 23,169 Recognition of unearned revenue ( 3,021 ) ( 11,956 ) ( 4,437 ) ( 23,668 ) Balance at the end of the period $ 979 $ 623 $ 979 $ 623 As of June 30, 2024, the Company expects to recognize $ 1.0 million from remaining performance obligations over a weighted average term of 4.4 years. The Company recognized approximately $ 0.3 million and $ 0.5 million in revenue that was included in the beginning contract liabilities balance during the three and six months ended June 30, 2024, respectively. The Company recognized approximately $ 0.2 million and $ 0.9 million in revenue that was included in the beginning contract liabilities balance during the three and six months ended June 30, 2023, 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. Product warranty costs are recorded as expense to cost of revenue based on customer history, historical information and current trends. The following table summarizes the changes in product warranty liability: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Warranty liability, beginning of the period $ 5,479 $ 4,626 $ 5,632 $ 4,351 Provision for warranty issued during period 550 916 688 1,712 Changes in estimate ( 177 ) 63 ( 374 ) ( 361 ) Settlements ( 75 ) ( 112 ) ( 169 ) ( 209 ) Warranty liability, end of the period $ 5,777 $ 5,493 $ 5,777 $ 5,493

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	6 Months Ended
	Jun. 30, 2024
Disclosure Text Block Supplement [Abstract]
Supplementary Balance Sheet Information	8. Supplementary Balance Sheet Information Selected financial data as of the dates presented below is as follows (in thousands, except useful life data): Inventory June 30, December 31, Raw materials $ 820 $ 668 Finished goods 50,491 60,733 Inventory $ 51,311 $ 61,401 The inventory reserve was $ 1.4 million and $ 1.0 million as of June 30, 2024, and December 31, 2023, respectively. Property and equipment, net Estimated Useful Life June 30, December 31, Machinery and equipment 7 years $ 5,959 $ 5,810 Vehicles 5 years 31 31 Computer software 5 years 212 192 Computer equipment 5 years 606 574 Furniture and fixtures 5 years 215 216 Leasehold improvements 3 - 6 years 464 457 7,487 7,280 Less: Accumulated depreciation 4,296 3,822 Property and equipment, net $ 3,191 $ 3,458 For the three months ended June 30, 2024, and 2023 the Company recorded depreciation expense of $ 0.3 million and $ 0.2 million, respectively, in the condensed consolidated statements of operations and comprehensive loss. For the six months ended June 30, 2024, and 2023 the Company recorded depreciation expense of $ 0.5 million and $ 0.4 million, respectively, in the condensed consolidated statements of operations and comprehensive loss. Accrued expenses and other current liabilities June 30, December 31, Accrued vacation $ 1,133 $ 856 Accrued compensation 1,174 2,514 Accrued interest 1,187 1,222 Accrued professional fees 463 409 Accrued warehouse and freight 795 1,001 Accrued other (1) 1,674 1,974 Other current liabilities (2) 213 705 Accrued expenses and other current liabilities $ 6,639 $ 8,681 (1) Accrued other as of June 30, 2024, and December 31, 2023, primarily consist of accrued expenses related to legal expense, insurance expense and sales discounts. (2) Other current liabilities as of June 30, 2024, and December 31, 2023, primarily consist of the contingent shares’ liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information. Allowance for credit losses June 30, December 31, Allowance for credit losses, beginning balance $ 4,011 $ 76 Net charges to (recovery) or expense ( 1,301 ) 3,960 Write-offs, net of recoveries ( 140 ) ( 25 ) Allowance for credit losses, ending balance $ 2,570 $ 4,011

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities June 30, December 31, Accrued vacation $ 1,133 $ 856 Accrued compensation 1,174 2,514 Accrued interest 1,187 1,222 Accrued professional fees 463 409 Accrued warehouse and freight 795 1,001 Accrued other (1) 1,674 1,974 Other current liabilities (2) 213 705 Accrued expenses and other current liabilities $ 6,639 $ 8,681 (1) Accrued other as of June 30, 2024, and December 31, 2023, primarily consist of accrued expenses related to legal expense, insurance expense and sales discounts. (2) Other current liabilities as of June 30, 2024, and December 31, 2023, primarily consist of 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	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt Long-term debt consisted of the following (in thousands): June 30, December 31, Convertible Promissory Note $ 50,000 $ 50,000 Less: unamortized debt discount and issuance costs ( 13,960 ) ( 18,430 ) Long-term debt, net of unamortized debt discount and issuance costs $ 36,040 $ 31,570 During the three months ended June 30, 2024, and 2023, the Company recorded amortization of $ 2.2 million and $ 1.0 million, respectively, to interest expense pertaining to debt discount and issuance costs. During the six months ended June 30, 2024, and 2023, the Company recorded amortization of $ 4.5 million and $ 1.0 million, respectively, to interest expense pertaining to debt discount and issuance costs. The amortization associated with the Convertible Promissory Note, primarily consists of the debt discount that was recorded as a result of the bifurcation of the conversion option at the time of the Business Combination. See below in this note for further information on the conversion option bifurcation for the Convertible Promissory Note, as defined below. Convertible Promissory Notes On January 9, 2023, the Company entered into the Note Purchase Agreement (“Note Purchase Agreement”) with L1 Energy Capital Management S.a.r.l. (“L1 Energy”) pursuant to which the Company issued the Convertible Promissory Note in the aggregate principal amount of $ 50.0 million (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. As of June 30, 2024, there was $ 1.2 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 the Company’s common stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company’s capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date. The Company’s obligations under the Note Purchase Agreement may be accelerated, subject to customary grace and cure periods, upon the occurrence of an event of default. The Note Purchase Agreement defines events of default as the occurrence of any one of the following; 1) a default in payment of any part of principal or unpaid accrued interest on the Convertible Promissory Note when due and payable; 2) the Company issues a written statement that it is unable to pay its debts as they become due, or the Company files a voluntary petition for bankruptcy or insolvency proceeding, the Company, or its directors or majority shareholders take action looking to the dissolution or liquidation of the Company; 3) the involuntary bankruptcy of the Company defined as the commencement of any proceeding against the Company seeking any bankruptcy reorganization; 4) the Company defaults on any of its performance obligations under the Note Purchase Agreement; 5) any material portion of the assets of the Company or any subsidiary of the Company is seized or a levy is filed against such assets; 6) a default that remains uncured on any other agreement evidencing the indebtedness of the Company or its subsidiaries for an amount of $ 10 million or more whose terms allow for the acceleration of the repayment of such indebtedness due to the consummation of the transactions contemplated in this Note Purchase Agreement. 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. As of June 30, 2023, the fair value of the conversion options was remeasured to $ 61.8 million, and the Company recorded a $ 38.3 million change in fair value of derivative liability on the Company’s condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2023. 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 were reclassified to equity under ASC Topic 815, Derivatives and Hedging . Future aggregate principal maturities of long-term debt are as follows as of June 30, 2024 (in thousands): Remainder of 2024 $ — 2025 — 2026 50,000 2027 — 2028 — 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 issued in January 2022 with a principal amount of $ 25.0 million at a fixed interest rate of 5.5 % per year (“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 loss.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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 potential indemnification-related obligations at June 30, 2024 .

Common Stock, Preferred Stock a

Common Stock, Preferred Stock and Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Common Stock, Preferred Stock and Convertible Preferred Stock	11. Common Stock, Preferred Stock and Convertible Preferred Stock Common and Preferred 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. The Company is authorized to issue 10,000,000 shares of Preferred Stock. As of June 30, 2024 , there was no Preferred Stock outstanding. Common Stock Reserved for Future Issuance Shares of Common Stock reserved for future issuance were as follows: As of June 30, 2024 Stock options issued and outstanding 3,799,613 Restricted stock units issued and outstanding 1,527,132 Shares available for potential conversion of L1 Convertible Note 5,305,861 Shares available for fSight Contingent Shares 86,017 Shares available for grant under 2023 Equity Incentive Plan 5,286,929 16,005,552 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 year ended December 31, 2023, 1,915,372 Legacy Warrants were net exercised resulting in the issuance of 1,491,229 shares of Common Stock. As of December 31, 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. 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 30-day trading 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. 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 remained outstanding following 5:00 p.m. New York City time on September 8, 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. As of December 31, 2023, there were no Warrants outstanding. 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 December 31, 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. 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 December 31, 2023, there were no convertible preferred stock warrants outstanding.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
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. During the three and six months ended June 30, 2024, 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. During the three and six months ended June 30, 2024, there were no 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. The stock options 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. As of June 30, 2024, 77,039 stock options granted under the 2023 Plan had vested and were exercisable. There have been no stock options exercised under the 2023 Plan. The RSUs generally vest over a three-year period, following the date of grant, with a third of the award vesting on each year on the annual anniversary of the grant date. As of June 30, 2024, 739,282 RSUs that were granted under the 2023 Plan have vested into shares of Common Stock. Collectively, the 2008 Stock Plan, 2018 Stock Plan and the 2023 Equity Incentive Plan are referred to as “the Plans”. The Company has reserved 5,286,929 shares of common stock for future issuance under the 2023 Plan. 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 June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Research and development $ 223 $ 63 $ 679 $ 112 Sales and marketing 341 273 1,171 446 General and administrative 1,108 129 2,263 251 Cost of Sales 31 31 95 54 Total stock-based compensation $ 1,703 $ 496 $ 4,208 $ 863 Stock Options The following table summarizes stock option activity for the Plans for the six months ended June 30, 2024: Number Weighted Weighted Aggregate intrinsic value (in 000’s) Outstanding at December 31, 2023 4,872,527 $ 3.64 6.10 Granted — $ — Exercised ( 768,837 ) $ 0.34 Forfeited ( 232,276 ) $ 5.74 Expired ( 71,801 ) $ 2.33 Outstanding at June 30, 2024 3,799,613 $ 4.20 6.36 $ 1,565 Exercisable at June 30, 2024 2,282,733 $ 1.60 4.91 $ 1,473 Vested and expected to vest at June 30, 2024 3,799,613 $ 4.20 6.36 As of June 30, 2024, the total unrecognized compensation expense related to unvested stock option awards was $ 7.2 million, which the Company expects to recognize over a weighted-average period of 2.8 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. There were no options granted during the three and six months ended June 30, 2024. The fair value of each stock option granted during the six months ended June 30, 2023, was estimated on the date of grant using the weighted average assumptions in the table below: June 30, 2023 Expected volatility 69.1 % Risk-free interest rate 3.8 % Expected term (in years) 6.0 Expected dividend yield — % Restricted Stock Units The following table summarizes RSU activity for the Plans for the six months ended June 30, 2024: Number Weighted Outstanding at December 31, 2023 872,037 $ 11.27 Granted 1,424,412 $ 1.31 Vested ( 685,213 ) $ 1.35 Forfeited ( 84,104 ) $ 9.23 Outstanding at June 30, 2024 1,527,132 $ 6.55 As of June 30, 2024, the total unrecognized compensation expense related to unvested RSUs was $ 6.7 million, which the Company expects to recognize over a weighted-average period of 2.0 years.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	13. Leases As a lessee, the Company currently leases office space and vehicles in the United States, Italy, Israel, China, Philippines 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 five 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: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Operating lease costs $ 314 $ 283 $ 648 $ 477 Variable lease costs 148 73 240 135 Total lease cost $ 462 $ 356 $ 888 $ 612 Other information related to leases was as follows: Six Months Ended June 30, Supplemental Cash Flows Information (in thousands) 2024 2023 Operating lease right of use assets obtained in exchange for operating lease liabilities $ 126 $ 1,973 Cash paid for amounts included in the measurement of lease liabilities $ 686 $ 399 June 30, 2024 December 31, 2023 Weighted average remaining lease term (years) 2.7 2.9 Weighted average discount rate 4.9 % 8.5 % Future maturities of lease liabilities were as follows as of June 30, 2024: (in thousands) Operating Leases Remainder of 2024 $ 676 2025 611 2026 450 2027 343 2028 133 Thereafter 6 Total future minimum lease payments $ 2,219 Less: imputed interest 150 Present value of lease liabilities $ 2,069

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	14. Goodwill and Intangible Assets As of June 30, 2024, the Company had a goodwill balance of $ 12.2 million. The goodwill balance is related to the acquisition of fSight. Please refer to Note 4. “Acquisition of Foresight Energy, Ltd.” for further information. The Company's intangible assets by major asset class are as follows: June 30, 2024 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 101 ) $ 349 Customer relationships 10.0 170 ( 24 ) 146 Developed technology 10.0 1,820 ( 258 ) 1,562 Total intangible assets $ 2,440 $ ( 383 ) $ 2,057 December 31, 2023 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 65 ) $ 385 Customer relationships 10.0 170 ( 16 ) 154 Developed technology 10.0 1,820 ( 167 ) 1,653 Total intangible assets $ 2,440 $ ( 248 ) $ 2,192 The Company recognized amortization expense related to intangible assets of $ 0.1 million and $ 0.1 million for the three months ended June 30, 2024, and 2023, respectively. The Company recognized amortization expense related to acquired intangible assets of $ 0.1 million and $ 0.1 million for the six months ended June 30, 2024, and 2023, respectively. Amortization expense related to intangible assets at June 30, 2024, in each of the next five years and beyond is expected to be incurred as follows: (in thousands) Amount Remainder of 2024 $ 135 2025 270 2026 270 2027 262 2028 260 Thereafter 860 $ 2,057

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
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. 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 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 the third quarter of 2023, management considered 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. As a result, the Company recorded a tax expense and valuation allowance of $ 11.1 million on the basis of managements’ reassessment of the amount of its deferred tax assets that were more likely than not to be realized. As of June 30, 2024, the Company has maintained this position. Income tax expense was $ 16,000 for the three months and six months ended June 30, 2024. Income tax benefit was $ 10.9 million for the three months and six months ended June 30, 2023. The effective tax rates for the three months ended June 30, 2024, and 2023 were ( 0.1 )% and 32.8 % , respectively. The effective tax rates for the six months ended June 30, 2024, and 2023 were ( 0.1 )% and 41.5 % , respectively. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21.0 % and the effective tax rate for the three and six months ended June 30, 2024, was the 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 21.0 % and the effective tax rate for the three and six months ended June 30, 2023, was the discrete tax benefit of releasing valuation allowance against U.S. deferred tax assets.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	16. 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, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements. On July 25, 2024, consistent with the terms of the purchase agreement related to the acquisition of fSight, the Company issued 86,017 shares of its Common Stock as the second tranche of Contingent Shares to certain former equity holders of fSight. These shares were scheduled for release in two tranches, at 12 months and 18 months post-Acquisition Closing Date, subject to adjustment pursuant to the terms of the purchase agreement. This issuance represented the completion of the 18-month release condition. The fair value of these shares, at the time of release, was approximately $ 0.1 million, based on the prevailing market price of the Company’s Common Stock on July 25, 2024. As of July 25, 2024, there are no remaining contingent shares related to the acquisition of fSight. See Note 4, “Acquisition of Foresight Energy, Ltd.,” of the notes to the condensed consolidated financial statements for additional information.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
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.
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, provisions for warranty and expected credit losses, inventory obsolescence, sales returns, future price concessions, valuation allowances and the estimated useful lives of plant and equipment and acquired intangible assets. Actual results may materially differ from these estimates. On an ongoing basis, the Company reviews its estimates to ensure that these estimates appropriately reflect changes in its business or new information as it becomes available.
Recently Issued Accounting Pronouncements not yet Adopted	Recently Issued Accounting Pronouncements not yet Adopted In November 2023, the FASB issued ASU No. 2023-07 , Improvements to Reportable Segment Disclosures (Topic 280) . This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740) . This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024, although retrospective application is permitted. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2025. In March 2024, the SEC adopted final rules that would require registrants to provide certain climate-related information in their registration statements and annual reports. The new rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The rules also require disclosure of certain climate-related financial metrics in registrant’s audited financial statements, and, for certain registrants, disclosure regarding such registrant’s greenhouse gas emissions. In April 2024, the SEC voluntarily stayed the rules pending completion of a judicial review that is currently pending in the U.S. Court of Appeals for the Eighth Circuit. The Company is currently evaluating the impact of these rules on the Company’s financial statements and related disclosures.

Acquisition of Foresight Ener_2

Acquisition of Foresight Energy, Ltd. (Tables)	6 Months Ended
	Jun. 30, 2024
Business Acquisition [Line Items]
Supplemental Information of Operating Results	The following table presents supplemental pro-forma information on the net revenue and net loss attributable to fSight included within the Company’s condensed consolidated statement of operations and comprehensive loss. (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net revenue $ 158 $ 242 Net loss $ ( 299 ) $ ( 556 )
fSight [Member]
Business Acquisition [Line Items]
Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed	The assets acquired and liabilities assumed were recorded at fair value as follows (in thousands): Consideration transferred: 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 12,209 Total assets acquired $ 14,380 Liabilities assumed: Accounts payable $ 418 Accrued expenses 294 Net assets acquired $ 13,668
Summary of Supplemental Pro Forma Information	The following table presents supplemental pro-forma information for the three and six months ended June 30, 2023, 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. (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Net revenue $ 68,894 $ 118,952 Net loss $ ( 22,322 ) $ ( 15,412 )

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share to common stockholders: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Basic net loss per common share calculation: Net loss $ ( 11,321 ) $ ( 22,176 ) $ ( 22,827 ) $ ( 15,266 ) Undistributed earnings to preferred stock stockholders — ( 1,248 ) - ( 3,399 ) Net loss attributable to common stockholders – basic $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Weighted-average shares of common stock outstanding – basic 60,363,680 27,750,374 59,874,991 17,174,936 Net loss per share of common stock – basic $ ( 0.19 ) $ ( 0.84 ) $ ( 0.38 ) $ ( 1.09 ) Diluted net loss per common share calculation: Net loss attributable to common stockholders - basic $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Net loss attributable to common stockholders - diluted $ ( 11,321 ) $ ( 23,424 ) $ ( 22,827 ) $ ( 18,665 ) Weighted-average shares of common stock outstanding – basic 60,363,680 27,750,374 59,874,991 17,174,936 Weighted-average shares of common stock – diluted 60,363,680 27,750,374 59,874,991 17,174,936 Net loss per share of common stock – diluted $ ( 0.19 ) $ ( 0.84 ) $ ( 0.38 ) $ ( 1.09 )
Summary of Anti-dilutive Shares Outstanding	The Company excluded the effect of the below elements from our calculation of diluted 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 June 30, 2024 2023 Common stock warrants — 5,768,750 Outstanding stock options and restricted stock units 3,267,452 4,649,864 Convertible promissory note 5,305,861 5,454,545 8,573,313 15,873,159

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
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 reporting date (in thousands) (Level 1) (Level 2) (Level 3) June 30, 2024 Assets: Cash equivalents: Money market accounts $ 11,849 $ — $ — Marketable securities: Corporate bonds $ — $ 4,565 $ — U.S. agency securities $ — $ 649 $ — Liabilities: Contingent shares liability from fSight acquisition $ 132 $ — $ — December 31, 2023 Assets: Cash equivalents: Money market accounts $ 1,646 $ — $ — Marketable securities: Corporate bonds $ — $ 19,489 $ — U.S. agency securities $ — $ 9,294 $ — Liabilities: Contingent shares liability from fSight acquisition $ 527 $ — $ — During the three and six months ended June 30, 2024 , there were no transfers between Level 1, Level 2 and Level 3.
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 June 30, 2024, and December 31, 2023, respectively: As of June 30, 2024 (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 4,586 $ — $ ( 21 ) $ 4,565 U.S. agency securities 651 — $ ( 2 ) 649 Total 5,237 — ( 23 ) 5,214 As of December 31, 2023 (in thousands) Amortized cost Unrealized gain Unrealized loss Fair value Available-for-sale marketable securities: Current assets Corporate bonds $ 17,561 $ 2 $ ( 52 ) $ 17,511 U.S. agency securities 9,300 2 $ ( 7 ) 9,295 Total 26,861 4 ( 59 ) 26,806 Long-term assets Corporate bonds 1,981 3 ( 7 ) 1,977 Total 1,981 3 ( 7 ) 1,977 Total available-for-sale marketable securities $ 28,842 $ 7 $ ( 66 ) $ 28,783

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Summary of Net Revenue by Major Geographic Region	The following table summarizes net revenue by major geographic region: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 EMEA $ 6,998 $ 55,096 $ 12,787 $ 95,355 Americas 2,835 11,167 5,572 18,199 APAC 2,868 2,563 4,144 5,330 Total net revenue $ 12,701 $ 68,826 $ 22,503 $ 118,884
Schedule of Summarizes the Changes in Deferred Revenue	The following table summarizes the changes in deferred revenue: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Balance at the beginning of the period $ 1,051 $ 1,608 $ 801 $ 1,122 Deferral of revenue 2,949 10,971 4,615 23,169 Recognition of unearned revenue ( 3,021 ) ( 11,956 ) ( 4,437 ) ( 23,668 ) Balance at the end of the period $ 979 $ 623 $ 979 $ 623
Summary of Changes in Product Warranty Liability	The following table summarizes the changes in product warranty liability: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Warranty liability, beginning of the period $ 5,479 $ 4,626 $ 5,632 $ 4,351 Provision for warranty issued during period 550 916 688 1,712 Changes in estimate ( 177 ) 63 ( 374 ) ( 361 ) Settlements ( 75 ) ( 112 ) ( 169 ) ( 209 ) Warranty liability, end of the period $ 5,777 $ 5,493 $ 5,777 $ 5,493

Supplementary Balance Sheet I_2

Supplementary Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, December 31, Raw materials $ 820 $ 668 Finished goods 50,491 60,733 Inventory $ 51,311 $ 61,401 The inventory reserve was $ 1.4 million and $ 1.0 million as of June 30, 2024, and December 31, 2023, respectively.
Summary of Property and Equipment, Net	Property and equipment, net Estimated Useful Life June 30, December 31, Machinery and equipment 7 years $ 5,959 $ 5,810 Vehicles 5 years 31 31 Computer software 5 years 212 192 Computer equipment 5 years 606 574 Furniture and fixtures 5 years 215 216 Leasehold improvements 3 - 6 years 464 457 7,487 7,280 Less: Accumulated depreciation 4,296 3,822 Property and equipment, net $ 3,191 $ 3,458
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities June 30, December 31, Accrued vacation $ 1,133 $ 856 Accrued compensation 1,174 2,514 Accrued interest 1,187 1,222 Accrued professional fees 463 409 Accrued warehouse and freight 795 1,001 Accrued other (1) 1,674 1,974 Other current liabilities (2) 213 705 Accrued expenses and other current liabilities $ 6,639 $ 8,681 (1) Accrued other as of June 30, 2024, and December 31, 2023, primarily consist of accrued expenses related to legal expense, insurance expense and sales discounts. (2) Other current liabilities as of June 30, 2024, and December 31, 2023, primarily consist of the contingent shares’ liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.
Summary of Activity in Allowance for Credit losses	Allowance for credit losses June 30, December 31, Allowance for credit losses, beginning balance $ 4,011 $ 76 Net charges to (recovery) or expense ( 1,301 ) 3,960 Write-offs, net of recoveries ( 140 ) ( 25 ) Allowance for credit losses, ending balance $ 2,570 $ 4,011

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following (in thousands): June 30, December 31, Convertible Promissory Note $ 50,000 $ 50,000 Less: unamortized debt discount and issuance costs ( 13,960 ) ( 18,430 ) Long-term debt, net of unamortized debt discount and issuance costs $ 36,040 $ 31,570 During the three months ended June 30, 2024, and 2023, the Company recorded amortization of $ 2.2 million and $ 1.0 million, respectively, to interest expense pertaining to debt discount and issuance costs. During the six months ended June 30, 2024, and 2023, the Company recorded amortization of $ 4.5 million and $ 1.0 million, respectively, to interest expense pertaining to debt discount and issuance costs. The amortization associated with the Convertible Promissory Note, primarily consists of the debt discount that was recorded as a result of the bifurcation of the conversion option at the time of the Business Combination. See below in this note for further information on the conversion option bifurcation for the Convertible Promissory Note, as defined below.
Schedule of Future Aggregate Principal Maturities of Long-Term Debt	Future aggregate principal maturities of long-term debt are as follows as of June 30, 2024 (in thousands): Remainder of 2024 $ — 2025 — 2026 50,000 2027 — 2028 — Thereafter — $ 50,000

Common Stock, Preferred Stock_2

Common Stock, Preferred Stock and Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Shares of Common Stock Reserved for Future Issuance	Shares of Common Stock reserved for future issuance were as follows: As of June 30, 2024 Stock options issued and outstanding 3,799,613 Restricted stock units issued and outstanding 1,527,132 Shares available for potential conversion of L1 Convertible Note 5,305,861 Shares available for fSight Contingent Shares 86,017 Shares available for grant under 2023 Equity Incentive Plan 5,286,929 16,005,552

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Research and development $ 223 $ 63 $ 679 $ 112 Sales and marketing 341 273 1,171 446 General and administrative 1,108 129 2,263 251 Cost of Sales 31 31 95 54 Total stock-based compensation $ 1,703 $ 496 $ 4,208 $ 863
Schedule of Stock Option Activity	The following table summarizes stock option activity for the Plans for the six months ended June 30, 2024: Number Weighted Weighted Aggregate intrinsic value (in 000’s) Outstanding at December 31, 2023 4,872,527 $ 3.64 6.10 Granted — $ — Exercised ( 768,837 ) $ 0.34 Forfeited ( 232,276 ) $ 5.74 Expired ( 71,801 ) $ 2.33 Outstanding at June 30, 2024 3,799,613 $ 4.20 6.36 $ 1,565 Exercisable at June 30, 2024 2,282,733 $ 1.60 4.91 $ 1,473 Vested and expected to vest at June 30, 2024 3,799,613 $ 4.20 6.36
Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions	The fair value of each stock option granted during the six months ended June 30, 2023, was estimated on the date of grant using the weighted average assumptions in the table below: June 30, 2023 Expected volatility 69.1 % Risk-free interest rate 3.8 % Expected term (in years) 6.0 Expected dividend yield — %
Schedule of RSU Activity	The following table summarizes RSU activity for the Plans for the six months ended June 30, 2024: Number Weighted Outstanding at December 31, 2023 872,037 $ 11.27 Granted 1,424,412 $ 1.31 Vested ( 685,213 ) $ 1.35 Forfeited ( 84,104 ) $ 9.23 Outstanding at June 30, 2024 1,527,132 $ 6.55

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Summary of Components of Lease Expense	The components of lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Operating lease costs $ 314 $ 283 $ 648 $ 477 Variable lease costs 148 73 240 135 Total lease cost $ 462 $ 356 $ 888 $ 612
Schedule of Other Information	Other information related to leases was as follows: Six Months Ended June 30, Supplemental Cash Flows Information (in thousands) 2024 2023 Operating lease right of use assets obtained in exchange for operating lease liabilities $ 126 $ 1,973 Cash paid for amounts included in the measurement of lease liabilities $ 686 $ 399 June 30, 2024 December 31, 2023 Weighted average remaining lease term (years) 2.7 2.9 Weighted average discount rate 4.9 % 8.5 %
Schedule of Future Maturities of Lease Liabilities	Future maturities of lease liabilities were as follows as of June 30, 2024: (in thousands) Operating Leases Remainder of 2024 $ 676 2025 611 2026 450 2027 343 2028 133 Thereafter 6 Total future minimum lease payments $ 2,219 Less: imputed interest 150 Present value of lease liabilities $ 2,069

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 101 ) $ 349 Customer relationships 10.0 170 ( 24 ) 146 Developed technology 10.0 1,820 ( 258 ) 1,562 Total intangible assets $ 2,440 $ ( 383 ) $ 2,057 December 31, 2023 (in thousands, except for useful life amounts) Weighted Average Useful Life (Years) Gross Accumulated Amortization Net Book Value Amortizing: Patents 6.7 $ 450 $ ( 65 ) $ 385 Customer relationships 10.0 170 ( 16 ) 154 Developed technology 10.0 1,820 ( 167 ) 1,653 Total intangible assets $ 2,440 $ ( 248 ) $ 2,192
Schedule of Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets at June 30, 2024, in each of the next five years and beyond is expected to be incurred as follows: (in thousands) Amount Remainder of 2024 $ 135 2025 270 2026 270 2027 262 2028 260 Thereafter 860 $ 2,057

Merger with Roth CH Acquisiti_2

Merger with Roth CH Acquisition IV Co. - Additional Information (Details) - USD ($)				3 Months Ended		6 Months Ended
	May 24, 2023	May 23, 2023	May 22, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jan. 25, 2023
Business Acquisition [Line Items]
Business acquisition shares exchange ratio				23.3335%	23.3335%	23.3335%	23.3335%
Transaction costs				$ 0	$ 47,000	$ 0	$ 200,000
Common stock, shares issued				60,371,987		60,371,987		58,751,666	5,598,751
Common stock, shares outstanding				60,371,987		60,371,987		58,751,666
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
Former Stockholders of ROCG
Business Acquisition [Line Items]
Common stock, shares issued		1,700,498
Roth Capital Partners, LLC.
Business Acquisition [Line Items]
Common stock, shares issued		118,021

Acquisition of Foresight Ener_3

Acquisition of Foresight Energy, Ltd. - Additional Information (Details) - USD ($)			3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 25, 2024	Jan. 25, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock issued (in Shares)		5,598,751	60,371,987		60,371,987		58,751,666
Acquisition related costs			$ 0	$ 47,000	$ 0	$ 200,000
Liability at a fair value	$ 200,000		2,100,000		2,100,000
Liability revalued	400,000		100,000		100,000
Change in fair value business combination	$ 200,000		$ 40,000	2,200,000	$ 200,000	2,400,000
Fair value		$ 11,000,000					$ 700,000	$ 1,400,000
Total consideration excluding consideration on loan		$ 13,200,000
Increase decrease on contingent shares issuable		5,745			86,017		252,288
Fair Value Guarantee
Business Acquisition [Line Items]
Common stock issued (in Shares)		737,233					368,617
fSight
Business Acquisition [Line Items]
Equity interest percentage		100%
Common stock issued (in Shares)	166,271
Common stock as converted basis of business combination		1,306,385
Net assets acquired		$ 13,668,000
Revenues				158,000		242,000
Net loss in business				$ (299,000)		$ (556,000)
Deemed settlement of loan payable		527,000
Total consideration		$ 13,668,000
fSight | Fair Value Guarantee
Business Acquisition [Line Items]
Common stock as converted basis of business combination		172,022			86,011
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

Acquisition of Foresight Ener_4

Acquisition of Foresight Energy, Ltd. - Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Details) - fSight $ in Thousands	Jan. 25, 2023 USD ($)
Consideration transferred:
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
Assets acquired	13,668
Goodwill	12,209
Total assets acquired	14,380
Liabilities assumed:
Accounts payable	418
Accrued expenses	294
Net assets acquired	13,668
Developed Technology
Assets acquired:
Assets acquired	1,820
Liabilities assumed:
Net assets acquired	1,820
Customer Relationships
Assets acquired:
Assets acquired	170
Liabilities assumed:
Net assets acquired	$ 170

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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Net revenue	$ 68,894	$ 118,952
Net loss	$ (22,322)	$ (15,412)

Acquisition of Foresight Ener_6

Acquisition of Foresight Energy, Ltd. - Summary of Supplemental Information of Operating Results (Details) - fSight [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Net revenue	$ 158	$ 242
Net loss	$ (299)	$ (556)

Net Loss Per Share - Summary of

Net 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				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic net loss per common share calculation:
Net loss	$ (11,321)	$ (11,506)	$ (22,176)	$ 6,910	$ (22,827)	$ (15,266)
Undistributed earnings to preferred stock stockholders			(1,248)			(3,399)
Net loss attributable to common stockholders - basic	$ (11,321)		$ (23,424)		$ (22,827)	$ (18,665)
Weighted-average shares of common stock outstanding - basic	60,363,680		27,750,374		59,874,991	17,174,936
Net loss per share of common stock - basic	$ (0.19)		$ (0.84)		$ (0.38)	$ (1.09)
Diluted net loss per common share calculation:
Net loss attributable to common stockholders - basic	$ (11,321)		$ (23,424)		$ (22,827)	$ (18,665)
Net loss attributable to common stockholders - diluted	$ (11,321)		$ (23,424)		$ (22,827)	$ (18,665)
Weighted-average shares of common stock outstanding, basic	60,363,680		27,750,374		59,874,991	17,174,936
Weighted-average shares of common stock - diluted	60,363,680		27,750,374		59,874,991	17,174,936
Net loss per share of common stock - diluted	$ (0.19)		$ (0.84)		$ (0.38)	$ (1.09)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Anti-dilutive Shares Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Common stock warrants		5,768,750
Outstanding stock options and restricted stock units	3,267,452	4,649,864
Convertible promissory note	5,305,861	5,454,545
Total	8,573,313	15,873,159

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	Jun. 30, 2024	Dec. 31, 2023
Level 1 [Member]
Cash equivalents:
Money market accounts	$ 11,849	$ 1,646
Liabilities:
Contingent shares liability from fSight acquisition	132	527
Level 2 [Member] | Corporate bonds [Member]
Marketable securities:
Marketable securities	4,565	19,489
Level 2 [Member] | U.S. agency securities [Member]
Marketable securities:
Marketable securities	$ 649	$ 9,294

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of changes in fair value of the company's marketable securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Available-for-sale marketable securities:
Total Current Assets	$ 5,214	$ 26,806
Long-term assets
Total Long-term assets		1,977
Total Available for sale Marketable Securities, Total		28,783
Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	4,565	17,511
Long-term assets
Total Long-term assets		1,977
U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	649	9,295
Cost [Member]
Available-for-sale marketable securities:
Total Current Assets	5,237	26,861
Long-term assets
Total Long-term assets		1,981
Total Available for sale Marketable Securities, Total		28,842
Cost [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	4,586	17,561
Long-term assets
Total Long-term assets		1,981
Cost [Member] | U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	651	9,300
Unrealized gain [Member]
Available-for-sale marketable securities:
Total Current Assets		4
Long-term assets
Total Long-term assets		3
Total Available for sale Marketable Securities, Total		7
Unrealized gain [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets		2
Long-term assets
Total Long-term assets		3
Unrealized gain [Member] | U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets		2
Unrealized loss [Member]
Available-for-sale marketable securities:
Total Current Assets	(23)	(59)
Long-term assets
Total Long-term assets		(7)
Total Available for sale Marketable Securities, Total		(66)
Unrealized loss [Member] | Corporate bonds [Member]
Available-for-sale marketable securities:
Total Current Assets	(21)	(52)
Long-term assets
Total Long-term assets		(7)
Unrealized loss [Member] | U.S. agency securities [Member]
Available-for-sale marketable securities:
Total Current Assets	$ (2)	$ (7)

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair value	$ 35.8	$ 58.1
Carrying value	$ 36	$ 31.6

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Revenue by Major Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total net revenue	$ 12,701	$ 68,826	$ 22,503	$ 118,884
EMEA
Disaggregation of Revenue [Line Items]
Total net revenue	6,998	55,096	12,787	95,355
Americas
Disaggregation of Revenue [Line Items]
Total net revenue	2,835	11,167	5,572	18,199
APAC
Disaggregation of Revenue [Line Items]
Total net revenue	$ 2,868	$ 2,563	$ 4,144	$ 5,330

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deferred Revenue and Product Warranties Disclosures [Abstract]
Deferred revenue, beginning of the period	$ 1,051	$ 1,608	$ 801	$ 1,122
Deferral of revenue	2,949	10,971	4,615	23,169
Recognition of unearned revenue	(3,021)	(11,956)	(4,437)	(23,668)
Deferred revenue, end of the period	$ 979	$ 623	$ 979	$ 623

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deferred Revenue and Product Warranty [Line Items]
Recognized revenue, contract liabilities	$ 0.3	$ 0.2	$ 0.5	$ 0.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Deferred Revenue and Product Warranty [Line Items]
Remaining performance obligations	$ 1		$ 1
Remaining performance obligations over a weighted average term	4 years 4 months 24 days		4 years 4 months 24 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Product Warranties Disclosures [Abstract]
Balance at the beginning of the period	$ 5,479	$ 4,626	$ 5,632	$ 4,351
Provision for warranty issued during period	550	916	688	1,712
Changes in estimate	(177)	63	(374)	(361)
Settlements	(75)	(112)	(169)	(209)
Balance at the end of the period	$ 5,777	$ 5,493	$ 5,777	$ 5,493

Supplementary Balance Sheet I_3

Supplementary Balance Sheet Information - Summary of Selected Financial Data (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 820	$ 668
Finished goods	50,491	60,733
Inventory	$ 51,311	$ 61,401

Supplementary Balance Sheet I_4

Supplementary Balance Sheet Information - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,487	$ 7,280
Less: Accumulated depreciation	4,296	3,822
Property and equipment, net	3,191	3,458
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,959	5,810
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	$ 212	192
Estimated Useful Life	5 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 606	574
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 215	216
Estimated Useful Life	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 464	$ 457
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

Supplementary Balance Sheet I_5

Supplementary Balance Sheet Information - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Inventory reserve	$ 1.4		$ 1.4		$ 1
Depreciation	$ 0.3	$ 0.2	$ 0.5	$ 0.4

Supplementary Balance Sheet I_6

Supplementary Balance Sheet Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Accrued vacation		$ 1,133	$ 856
Accrued compensation		1,174	2,514
Accrued interest		1,187	1,222
Accrued professional fees		463	409
Accrued warehouse and freight		795	1,001
Accrued other	[1]	1,674	1,974
Other current liabilities	[2]	213	705
Accrued expenses and other current liabilities		$ 6,639	$ 8,681
[1] Accrued other as of June 30, 2024, and December 31, 2023, primarily consist of accrued expenses related to legal expense, insurance expense and sales discounts. Other current liabilities as of June 30, 2024, and December 31, 2023, primarily consist of the contingent shares’ liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Supplementary Balance Sheet I_7

Supplementary Balance Sheet Information - Summary of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Allowance for Credit Loss [Abstract]
Allowance for credit losses, beginning balance	$ 4,011	$ 76
Net charges to (recovery) or expense	(1,301)	3,960
Write-offs, net of recoveries	(140)	(25)
Allowance for credit losses, ending balance	$ 2,570	$ 4,011

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Convertible Promissory Note	$ 50,000	$ 50,000
Less: unamortized debt discount and issuance costs	(13,960)	(18,430)
Long-term debt, net of unamortized debt discount and issuance costs	$ 36,040	$ 31,570

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 09, 2023	Jan. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Cash received from promissory note purchase agreement	$ 50,000
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.
Convertible promissory note conversion, description					the Convertible Promissory Note may be converted at the option of the note holder into the Company’s common stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company’s capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date.
Note purchase agreement default description					The Note Purchase Agreement defines events of default as the occurrence of any one of the following; 1) a default in payment of any part of principal or unpaid accrued interest on the Convertible Promissory Note when due and payable; 2) the Company issues a written statement that it is unable to pay its debts as they become due, or the Company files a voluntary petition for bankruptcy or insolvency proceeding, the Company, or its directors or majority shareholders take action looking to the dissolution or liquidation of the Company; 3) the involuntary bankruptcy of the Company defined as the commencement of any proceeding against the Company seeking any bankruptcy reorganization; 4) the Company defaults on any of its performance obligations under the Note Purchase Agreement; 5) any material portion of the assets of the Company or any subsidiary of the Company is seized or a levy is filed against such assets; 6) a default that remains uncured on any other agreement evidencing the indebtedness of the Company or its subsidiaries for an amount of $10 million or more whose terms allow for the acceleration of the repayment of such indebtedness due to the consummation of the transactions contemplated in this Note Purchase Agreement.
Debt default amount uncured			$ 10,000		$ 10,000
Remeasurement of fair value of conversion options						$ 61,800
Change in fair value of derivative liability				$ 38,251		38,251
Accrued interest					1,200
Debt discount			23,500		23,500
Amortization of debt issuance cost interest expense			$ 2,200	$ 1,000	$ 4,500	1,000
Repayment of from Series 2022-1 Notes						$ (20,833)
Series 2022-1 Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 200
Repayment of from Series 2022-1 Notes		$ 25,000
Debt fixed interest rate		5.50%

Long-Term Debt - Schedule of Fu

Long-Term Debt - Schedule of Future Aggregate Principal Maturities of Long-Term Debt (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
2026	$ 50,000
Long-Term Debt, Total	$ 50,000

Common Stock, Preferred Stock_3

Common Stock, Preferred Stock and Convertible Preferred Stock - Additional Information (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Sep. 08, 2023

May 23, 2023

Sep. 08, 2023

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Sep. 30, 2023

Aug. 09, 2023

May 24, 2023

Jan. 25, 2023

Dec. 31, 2022

Class of Stock [Line Items]

Common stock issued (in Shares)

60,371,987

60,371,987

58,751,666

5,598,751

Common stock, outstanding

60,371,987

60,371,987

58,751,666

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

150,000,000

Preferred stock, authorized

10,000,000

10,000,000

Preferred stock, outstanding

0

0

Convertible preferred stock, shares outstanding

0

Business acquisition shares exchange ratio

23.3335%

23.3335%

23.3335%

23.3335%

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

1,915,372

Warrants exercised

1,915,372

Issuance of common stock from exercise of warrants

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 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

Roth Capital Partners, LLC.

Class of Stock [Line Items]

Common stock issued (in Shares)

118,021

Former Stockholders of ROCG

Class of Stock [Line Items]

Common stock issued (in Shares)

1,700,498

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%

Legacy Tigo Energy

Class of Stock [Line Items]

Shares of Common Stock issued to holders of convertible preferred stock

47,918,992

Common Stock, Preferred Stock_4

Common Stock, Preferred Stock and Convertible Preferred Stock - Schedule of Shares of Common Stock Reserved for Future Issuance (Details)	Jun. 30, 2024 shares
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	16,005,552
Stock Options Issued and Outstanding
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	3,799,613
Restricted Stock Units Issued and Outstanding
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	1,527,132
Shares Available for Potential Conversion of L1 Convertible Note
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	5,305,861
Shares Available for fSight Contingent Shares
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	86,017
Shares Available for Grant under 2023 Equity Incentive Plan
Class of Stock [Line Items]
Shares of common stock reserved for future issuance	5,286,929

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
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)	0		0
Shares reserved for future issuance	16,005,552		16,005,552
Aggregate intrinsic value (in Dollars)	$ 1,473		$ 1,473
Stock options, Options exercises			768,837
Unrecognized compensation expense (in Dollars)			$ 7,200
Weighted-average period			2 years 9 months 18 days
Aggregate intrinsic value of outstanding options	$ 1,565		$ 1,565
Stock options granted	0		0
Business acquisition shares exchange ratio	23.3335%	23.3335%	23.3335%	23.3335%
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance	1,527,132		1,527,132
Fair value options per share (in Dollars per share)	$ 6.55		$ 6.55		$ 11.27
Unrecognized compensation expense, total	$ 6,700		$ 6,700
Stock-based compensation expense, recognition period			2 years
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]
Shares reserved for future issuance	5,286,929		5,286,929
2023 Plan | Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options vesting period			4 years
Stock options vesting percentage			25%
Stock options, Options vested			77,039
Stock options, Options exercises			0
2023 Plan | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options vesting period			3 years
2023 Plan | Employees and Executives | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, Options vested			739,282

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 1,703	$ 496	$ 4,208	$ 863
Research and Development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	223	63	679	112
Sales and Marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	341	273	1,171	446
General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	1,108	129	2,263	251
Cost of Sales
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 31	$ 31	$ 95	$ 54

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of table summarizes stock option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Outstanding		4,872,527
Number of shares, Outstanding, Granted	0	0
Number of shares, Outstanding, Exercised		(768,837)
Number of shares, Outstanding, Forfeited		(232,276)
Number of shares, Outstanding, Expired		(71,801)
Number of shares, Outstanding	3,799,613	3,799,613
Number of shares, Exercisable	2,282,733	2,282,733
Number of shares, Vested and expected to vest	3,799,613	3,799,613
Weighted average exercise price per share, Outstanding		$ 3.64
Weighted average exercise price per share, Exercised		0.34
Weighted average exercise price per share, Forfeited		5.74
Weighted average exercise price per share, Expired		2.33
Weighted average exercise price per share, Outstanding	$ 4.2	4.2	$ 3.64
Weighted average exercise price per share, Exercisable	1.6	1.6
Weighted average exercise price per share, Vested and expected to vest	$ 4.2	$ 4.2
Weighted average remaining contractual term (years), Outstanding at ending		6 years 4 months 9 days	6 years 1 month 6 days
Weighted average remaining contractual term (years), Exercisable		4 years 10 months 28 days
Weighted average remaining contractual term (years), Vested and expected to vest		6 years 4 months 9 days
Aggregate intrinsic value, Outstanding	$ 1,565	$ 1,565
Aggregate intrinsic value, Exercisable	$ 1,473	$ 1,473

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions (Details)	6 Months Ended
	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	69.10%
Risk-free interest rate	3.80%
Expected term (in years)	6 years

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Outstanding at December 31, 2023 | shares	872,037
Number of shares, Granted | shares	1,424,412
Number of shares, vested | shares	(685,213)
Number of shares, Forfeited | shares	(84,104)
Number of shares, Outstanding at June 30, 2024 | shares	1,527,132
Weighted average grant date fair value, Outstanding at December 31, 2023 | $ / shares	$ 11.27
Weighted Average Grant Date Fair Value, Granted | $ / shares	1.31
Weighted Average Grant Date Fair Value, Vested | $ / shares	1.35
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	9.23
Weighted average grant date fair value, Outstanding at June 30, 2024 | $ / shares	$ 6.55

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 30, 2024
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	5 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 314	$ 283	$ 648	$ 477
Variable lease costs	148	73	240	135
Total lease cost	$ 462	$ 356	$ 888	$ 612

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease right of use assets obtained in exchange for operating lease liabilities	$ 126	$ 1,973
Cash paid for amounts included in the measurement of lease liabilities	$ 686	$ 399
Weighted average remaining lease term (years)	2 years 8 months 12 days		2 years 10 months 24 days
Weighted average discount rate	4.90%		8.50%

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 676
2025	611
2026	450
2027	343
2028	133
Thereafter	6
Total	2,219
Less: imputed interest	150
Present value of lease liabilities	$ 2,069

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill balance	$ 12,200		$ 12,200
Intangible assets	2,057		2,057		$ 2,192
Amortization of intangible assets	$ 100	$ 100
Acquired intangible assets			$ 100	$ 100

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets by Major Asset Class (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,440	$ 2,440
Accumulated Amortization	(383)	(248)
Net Book Value	$ 2,057	$ 2,192
Patents
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	6 years 8 months 12 days	6 years 8 months 12 days
Gross	$ 450	$ 450
Accumulated Amortization	(101)	(65)
Net Book Value	$ 349	$ 385
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years	10 years
Gross	$ 170	$ 170
Accumulated Amortization	(24)	(16)
Net Book Value	$ 146	$ 154
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years	10 years
Gross	$ 1,820	$ 1,820
Accumulated Amortization	(258)	(167)
Net Book Value	$ 1,562	$ 1,653

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 135
2025	270
2026	270
2027	262
2028	260
Thereafter	860
Total	$ 2,057	$ 2,192

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense and valuation allowances		$ 11,100,000
Income tax expense (benefit)	$ 16,000		$ (10,933,000)	$ 16,000	$ (10,933,000)
Effective tax rates	(0.10%)		32.80%	(0.10%)	41.50%
U.S. federal income tax rate	21%		21%	21%	21%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions			6 Months Ended	12 Months Ended
	Jul. 25, 2024	Jan. 25, 2023	Jun. 30, 2024	Dec. 31, 2023	Jan. 25, 2024	Dec. 31, 2022
Subsequent Event [Line Items]
Common stock, shares issued		5,598,751	60,371,987	58,751,666
Fair value		$ 11		$ 0.7		$ 1.4
Increase decrease on contingent shares issuable		5,745	86,017	252,288
fSight
Subsequent Event [Line Items]
Common stock, shares issued					166,271
Subsequent Event | fSight
Subsequent Event [Line Items]
Common stock, shares issued	86,017
Fair value	$ 0.1
Increase decrease on contingent shares issuable	0