0000950170-23-060233 | 10-Q | XBRL Viewer

Common stock issued (in Shares)

5,598,751

58,733,366

5,469,921

Acquisition related costs

$ 47,000

$ 200,000

Liability at a fair value

2,100,000

Liability revalued

1,800,000

Change in fair value business combination

3,000,000

400,000

Fair value

$ 11,000,000

$ 700,000

$ 1,400,000

Revenues

200,000

400,000

Net loss in business

$ 400,000

$ 900,000

Total consideration excluding consideration on loan

$ 13,100,000

Fair Value Guarantee

Common stock issued (in Shares)

172,022

86,011

Developed Technology

Useful Life (Years)

10 years

$ 1,800,000

Customer Relationships

Useful Life (Years)

10 years

$ 200,000

fSight

Equity interest percentage

100.00%

Deemed settlement of loan payable

$ 13,668,000

^[1]

527,000

Total consideration

^[1]

13,668,000

fSight | Developed Technology

fSight | Customer Relationships

1,820,000

$ 170,000

[1]

The reported provisional amounts presented above have been updated from the Company's S-1 filed with the SEC on June 22, 2023. The Company recorded an out of period adjustment related to the adjustment of the provisional fair market value of the Legacy Tigo common stock that was used to develop the calculation of the purchase price consideration. The Company does not believe that the adjustment had a material impact on its condensed consolidated statements of operations and comprehensive income (loss), condensed consolidated balance sheets, or condensed consolidated statements of cash flows in any periods previously reported.

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

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

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

Acquisition of Foresight Energy, Ltd.

9 Months Ended

Sep. 30, 2023

fSight

Acquisition of Foresight Energy, Ltd.

On January 25, 2023 (“Acquisition Closing Date”), Legacy Tigo acquired 100% of the equity interests of fSight. The results of fSight’s operations have been included in the condensed consolidated financial statements since the Acquisition Closing Date. fSight primarily focuses on developing and marketing a software as a service platform, based on artificial intelligence for the smart management of electrical energy. The acquisition expands the Company’s ability to leverage energy consumption and production data for solar energy producers, adding a prediction platform that provides actionable system performance data, from the grid down to the module level.

Under the terms of the purchase agreement, total consideration amounted to $13.1 million which consisted of 5,598,751 shares of Legacy Tigo's common stock issued at closing with a fair value of approximately $11.0 million, 172,022 shares of Legacy Tigo's common stock with a fair value of approximately $1.4 million to be issued 12 months from closing and 86,011 shares of Legacy Tigo's common stock with a fair value of approximately $0.7 million to be issued 18 months from closing (collectively with the shares to be issued at 12 months “Contingent Shares”). Pursuant to the terms of the purchase agreement, the Contingent Shares are subject to adjustment based on certain indemnification obligations, liabilities or settlements that may arise during the contingency period, which ends 18 months following the Acquisition Closing Date. In addition to the consideration in the purchase agreement, there is an additional $0.5 million in consideration related to a loan that the Company issued to fSight prior to the Acquisition Closing Date, for a total consideration transferred of $13.7 million. The loan payable was deemed settled immediately following the Acquisition Closing Date.

The contingent shares were recorded as a liability at a fair value of approximately $2.1 million on the Acquisition Closing Date based on the fair value of Legacy Tigo's common stock at the Acquisition Closing Date. The contingent shares liability is recorded in accrued expenses and other current liabilities within the condensed consolidated balance sheet. At September 30, 2023, the liability was revalued to $1.8 million based upon the Company's common stock fair value per share on September 30, 2023. The $3.0 million and $0.4 million gain on mark to market was recorded in the change in fair value of preferred stock warrant and contingent shares liability financial statement line item within the condensed consolidated statement of operation and comprehensive income (loss) for the three and nine months ended September 30, 2023, respectively.

The transaction was accounted for as a business combination pursuant to ASC Topic 805, Business Combinations, using the acquisition method of accounting and in conjunction with the acquisition, Legacy Tigo recognized $47,000 and $0.2 million of acquisition-related costs during the three and nine months ended September 30, 2023, which were expensed as incurred and are recorded in general and administrative expenses on the condensed consolidated statement of operations and comprehensive income (loss).

The following table summarizes the provisional fair values of the identifiable assets acquired and liabilities assumed at the date of the acquisition:


(in thousands)	At January 25, 2023
Consideration transferred (1):
Fair value of common stock issued	$	10,974
Fair value of contingent shares		2,167
Deemed settlement of loan payable		527
Total consideration	$	13,668

Assets Acquired
Cash and cash equivalents	$	55
Accounts receivable		117
Property and equipment		9
Developed technology		1,820
Customer relationships		170
Goodwill		13,079
Total assets acquired	$	15,250
Liabilities Assumed
Accounts payable	$	418
Accrued expenses		294
Other current liabilities		89
Other long-term liabilities		781
Net assets acquired	$	13,668

(1)

The amounts above represent the Company’s provisional fair value estimates related to the acquisition as of January 25, 2023, and are subject to subsequent adjustments as additional information is obtained during the applicable measurement period. The primary areas of estimates that are not yet finalized include certain tangible assets acquired and liabilities assumed, as well as the identifiable intangible assets. The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based on their acquisition date estimated fair values. Accounts receivable and property and equipment acquired were not material in size or scope, and the carrying amounts of these assets represented their fair value. The identifiable intangible assets consist of developed technology and customer relationships which were assigned fair values of approximately $1.8 million and $0.2 million, respectively. The developed technology and customer relationships are both being amortized on a straight-line basis over 10 years.

Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired in addition to liabilities assumed arising from the business combination. The Company believes the goodwill related to the acquisition was attributable to the expected synergies, value of the assembled workforce, and the collective experience of the management team with regards to its operations, customers, and industry. As a non-taxable stock acquisition, the value attributable to the acquired intangibles and goodwill are not tax deductible.

Supplemental Pro Forma Information (Unaudited)

The following table presents supplemental pro-forma information for the three and nine months ended September 30, 2023, and 2022 as if the merger with fSight had occurred on January 1, 2022. These amounts have been calculated after applying the Company's accounting policies and are based upon currently available information.


	Three Months Ended September 30,					Nine Months Ended September 30,
(in thousands)	2023		2022			2023		2022
Revenue, net	$	17,104	$	22,900		$	136,056	$	50,580
Net income (loss)	$	29,056	$	(2,466	)	$	13,644	$	(8,154	)

Supplemental Information of Operating Results

For the three months ended September 30, 2023, the Company’s condensed consolidated statement of operations included revenue, net of $0.2 million and a net loss of $0.4 million attributable to fSight. For the nine months ended September 30, 2023, the

Company’s condensed consolidated statement of operations included revenue, net of $0.4 million and a net loss of $0.9 million attributable to fSight.

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

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 using
(in thousands)	(Level 1)		(Level 2)		(Level 3)(1)
September 30, 2023
Assets:
Cash equivalents:
Money market accounts	$	108	$	—	$	—
Marketable securities:
Corporate bonds	$	—	$	20,377	$	—
U.S. agency securities	$	—	$	18,398	$	—
Liabilities:
Contingent shares liability from fSight acquisition	$	1,809	$	—	$	—
December 31, 2022
Liabilities:
Preferred stock warrant liability	$	—	$	—	$	1,507

(1)

The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability.

The following is a summary of the changes in fair value of the Company’s marketable securities as of September 30, 2023:


(in thousands)	Amortized cost		Unrealized gain		Unrealized loss			Fair value
Available-for-sale marketable securities:
Current assets
Corporate bonds	$	17,362	$	3	$	(80	)	$	17,285
U.S. agency securities		17,186		—	$	(31	)		17,155
Total		34,548		3		(111	)		34,440
Long-term assets
Corporate bonds		3,133		—		(41	)		3,092
U.S. agency securities		1,250		—		(7	)		1,243
Total		4,383		—		(48	)		4,335

Total available-for-sale marketable securities	$	38,931	$	3	$	(159	)	$	38,775

As of September 30, 2023, available-for-sale securities consisted of investments that mature within approximately one to two years.

The fair value of the preferred stock warrants was calculated using the Black-Scholes option pricing model and is revalued to fair value at the end of each reporting period until the earlier of the exercise or expiration of the preferred stock warrants. As a part of the Business Combination, Legacy Tigo preferred stock warrants were converted into the Legacy Tigo common stock at the conversion rate in effect immediately prior to the consummation of the Business Combination. Please see Note 3, “Merger with Roth CH Acquisition IV Co.” for additional information. The fair value of the warrant liabilities was estimated using the Black-Scholes option pricing model using the following assumptions:


	May 23, 2023 (Merger Date)		As of December 31, 2022
Expected volatility	68% - 70%		70% - 76%
Risk-free interest rate	4.10% - 4.28%		4.22% - 4.34%
Expected term (in years)	2.0 - 2.6		2.4 - 3.0
Expected dividend yield		—		—
Fair value of Series C convertible preferred stock	$	1.89	$	1.82

The table presented below is a summary of the changes in fair value of the Company’s preferred stock warrant liability which was exercised immediately prior to the Business Combination into Legacy Tigo preferred stock and subsequently converted into Legacy Tigo common stock. Upon the consummation of the Business Combination, such shares of Legacy Tigo common stock were converted to shares of Common Stock. Please see Note 3, “Merger with Roth CH Acquisition IV Co.” for additional information.


(in thousands)	Fair value of preferred stock warrant liability
Balance at January 1, 2022	$	487
Change in fair value		1,020
Balance at December 31, 2022		1,507
Change in fair value		501
Exercise of warrants		(2,008	)
Balance at September 30, 2023	$	—

The table presented below is a summary of the changes in fair value of the Company’s Level 3 financial instruments. The contingent shares from the fSight acquisition (Note 4) were initially classified as a Level 3 measurement and upon the Merger were transferred out of Level 3 into Level 1, as they are now valued on the observable stock price of the Company. In addition, the Company bifurcated the conversion options associated with the convertible promissory notes and separately accounted for them as a derivative liability. On September 24, 2023, the Company and L1 Energy entered into the Convertible Note Amendment. As a result of the Convertible Note Amendment, the conversion options no longer meet the requirements to be bifurcated into a convertible note derivative liability in accordance with ASC 815, Derivatives and Hedging. The carrying value of the convertible note derivative liability was remeasured to fair value immediately prior to the execution of the Convertible Note Amendment and was reclassified to equity. The

reclassification was recorded in additional paid-in capital on the Company’s condensed consolidated balance sheet. Please refer to Note 9 “Long-Term Debt” for additional details regarding the derivative instrument.


(in thousands)	Fair value of contingent shares from fSight acquisition			Fair value of derivative liability
Balance at December 31, 2022	$	—		$	—
Fair value at inception		2,167			23,525
Change in fair value		29			(12,247	)
Transfer out of level 3		(2,196	)		(11,278	)
Balance at September 30, 2023	$	—		$	—

The fair value of the convertible note derivative liability was estimated using the Black-Scholes option pricing model using the following assumptions:


	As of September 24, 2023 (1)
Expected volatility		58.6	%
Risk-free interest rate		4.9	%
Expected term (in years)		2.3
Expected dividend yield		—

(1)

The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment.

During the three and nine months ended September 30, 2022, there were no transfers between Level 1, Level 2 and Level 3.

Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, restricted cash, marketable securities, accounts receivable, accounts payable, and customer deposits approximate fair value due to their short-term nature. As of September 30, 2023, the fair value and carrying value of the Company’s Convertible Promissory Note (Note 9) was $58.1 million and $29.3 million, respectively. As of December 31, 2022, the fair value and carrying value of the Company’s Series 2022-1 Notes was $21.0 million and $20.6 million, respectively. The estimated fair value for the Company’s Convertible Promissory Note and Series 2022-1 Notes was based on discounted expected future cash flows using prevailing interest rates which are Level 3 inputs under the fair value hierarchy.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Summary of Revenue Net by Major Geographic Region

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

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

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2023

Revenues [Abstract]

The following table summarizes revenue, net by major geographic region (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
EMEA	$	10,241	$	13,999	$	105,595	$	30,861
Americas		3,576		6,681		21,776		15,818
APAC		3,287		2,144		8,617		3,703
Total revenue, net	$	17,104	$	22,824	$	135,988	$	50,382

Schedule of Summarizes the Changes in Deferred Revenue

The following table summarizes the changes in deferred revenue:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2023			2022			2023			2022
Balance at the beginning of the period	$	623		$	1,102		$	1,122		$	451
Deferral of revenue		4,673			5,347			27,842			12,200
Recognition of unearned revenue		(4,840	)		(5,770	)		(28,508	)		(11,972	)
Balance at the end of the period	$	456		$	679		$	456		$	679

Summary of Changes in Product Warranty Liability

The following table summarizes the changes in product warranty liability:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2023			2022			2023			2022
Balance at the beginning of the period	$	5,493		$	3,662		$	4,351		$	3,393
Provision for warranty		460			321			1,810			629
Warranty usage		(146	)		(66	)		(354	)		(105	)
Balance at the end of the period	$	5,807		$	3,917		$	5,807		$	3,917

Common Stock and Convertible Preferred Stock (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Shares of Common Stock Reserved for Future Issuance

Shares of Common Stock reserved for future issuance, on an as-if converted basis, were as follows:


	As of September 30, 2023
Stock options issued and outstanding		5,145,445
Restricted stock units issued and outstanding		938,771
Shares available for potential conversion of L1 Convertible Note		5,305,437
Shares available for fSight Contingent Shares		258,033
Shares available for grant under 2023 Equity Incentive Plan		4,649,266
		16,296,952

Schedule of Convertible Preferred Stock

At December 31, 2022, convertible preferred stock consisted of the following. The Company has retroactively adjusted the shares issued and outstanding to reflect the exchange ratio of 0.233335 as described in Note 3.


(in thousands, except for share data)	Shares Authorized		Shares Issued and Outstanding		Carrying Value		Aggregate Liquidation Preference
Series E		8,601,120		7,832,394	$	40,770	$	45,371
Series D		11,513,253		11,513,253		22,192		29,831
Series C-1		9,020,682		9,020,682		2,180		18,000
Series C		6,318,524		6,070,151		11,647		13,442
Series B-4		7,172,501		7,172,501		7,582		11,199
Series B-3		1,546,441		1,546,441		862		2,620
Series B-2		174,208		174,208		105		340
Series B-1		1,863,215		1,863,215		611		2,918
Series A-4		570,976		570,976		661		4,182
Series A-3		466,245		466,245		260		1,604
Series A-2		149,281		149,281		160		1,021
Series A-1		88,216		88,216		110		679
		47,484,663		46,467,565	$	87,140	$	131,207

Stock-Based Compensation - Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions (Details)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	68.10%	55.00%
Risk-free interest rate	4.10%	3.20%
Expected term (in years)	6 years	7 years

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Accrued Liabilities and Other Liabilities [Abstract]

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

Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2023

Accrued Expenses and Other Current Liabilities


Accrued expenses and other current liabilities	September 30, 2023		December 31, 2022
Accrued vacation	$	1,009	$	829
Accrued compensation		1,647		624
Accrued interest		583		9
Accrued professional fees		911		2,502
Accrued warehouse and freight		1,093		143
Accrued other		1,443		275
Other current liabilities(1)		1,995		—
Accrued expenses and other current liabilities	$	8,681	$	4,382

(1)

Other current liabilities of $2.0 million for the period ended September 30, 2023, are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

Selected Financial Data (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Selected Financial Data

Selected financial data as of the dates presented below is as follows (in thousands, except useful life data):


Inventory, net	September 30, 2023			December 31, 2022
Raw materials	$	1,063		$	1,869
Work in process		—			31
Finished goods		57,448			23,293
Inventory reserve		(1,074	)		(278	)
Inventory, net	$	57,437		$	24,915

Summary of Property and Equipment, Net


Property and equipment, net	Estimated Useful Life	September 30, 2023		December 31, 2022
Machinery and equipment	7 years	$	5,297	$	3,881
Vehicles	5 years		31		31
Computer software	5 years		201		185
Computer equipment	5 years		571		526
Furniture and fixtures	5 years		208		179
Leasehold improvements	3 - 6 years		236		42
Construction in progress			2		—
			6,546		4,844
Less: Accumulated depreciation			3,783		3,192
Property and equipment, net		$	2,763	$	1,652

Accrued Expenses and Other Current Liabilities


Accrued expenses and other current liabilities	September 30, 2023		December 31, 2022
Accrued vacation	$	1,009	$	829
Accrued compensation		1,647		624
Accrued interest		583		9
Accrued professional fees		911		2,502
Accrued warehouse and freight		1,093		143
Accrued other		1,443		275
Other current liabilities(1)		1,995		—
Accrued expenses and other current liabilities	$	8,681	$	4,382

(1)

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Research and development	$	180	$	67	$	292	$	79
Sales and marketing		455		97		901		106
Cost of sales		59		30		113		35
General and administrative		580		147		831		173
Total stock-based compensation	$	1,274	$	341	$	2,137	$	393

Schedule of Stock Option Activity

The following table summarizes stock option activity for the Plans for the nine months ended September 30, 2023:


	Number of shares			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in 000's)
Outstanding at December 31, 2022		4,269,402		$	1.08		6.07
Granted		1,489,681		$	10.54
Exercised		(415,615	)	$	0.46
Cancelled		(198,023	)	$	2.56
Outstanding at September 30, 2023		5,145,445		$	3.81		6.61	$	21,683
Exercisable at September 30, 2023		2,625,266		$	0.80		4.29	$	16,304
Vested and expected to vest at September 30, 2023		5,145,445		$	3.81		6.61

Schedule of Fair Value of Each Option Estimated Using Weighted Average Assumptions

The fair value of each option was estimated on the date of grant using the weighted average assumptions in the table below:


	September 30, 2023			September 30, 2022
Expected volatility		68.1	%		55.0	%
Risk-free interest rate		4.1	%		3.2	%
Expected term (in years)		6.0			7.0
Expected dividend yield		—	%		—	%

Schedule of RSU Activity

The following table summarizes RSU activity for the Plans for the nine months ended September 30, 2023:


	Number of shares		Weighted average grant date fair value per share
Outstanding at December 31, 2022		—	$	—
Granted		938,771	$	11.39
Vested		—	$	—
Cancelled		—	$	—
Outstanding at September 30, 2023		938,771	$	11.39

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

Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

15.

Income Taxes

The Company’s income tax expense, deferred tax assets and liabilities, and reserves for unrecognized tax benefits reflect management’s best assessment of estimated current and future taxes to be paid. The Company is subject to income taxes in both the United States and foreign jurisdictions. Significant judgment and estimates are required in determining the consolidated income tax expense.

In the second quarter of 2023, the Company assessed all available positive and negative evidence placing the most weight on objectively verifiable information. As such, the Company’s cumulative profit position was given the most weight and, based on estimated future sources of taxable income, the Company determined that the future benefits were more likely than not to be realized and released the valuation allowance against U.S. federal net deferred tax assets. The Company continued to record a valuation allowance against its state net deferred tax assets which is primarily the state of California deferred tax assets.

As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. In the third quarter of 2023, the Company and its industry overall experienced a significant change in outlook. As a result of the significant number of bankruptcies by installers, higher than expected order cancellations and pushouts, slower than expected installation rates, higher inventory levels in the channel and a general slowdown in the macroeconomic environment in the third quarter of 2023, the Company assessed all available positive and negative evidence and determined that its U.S. federal net deferred tax asset is no longer more likely than not realizable and recorded a valuation allowance against its U.S. federal net deferred tax assets. In making this determination, the Company placed the most weight on objectively verifiable information which was the Company’s cumulative loss position.

During interim periods, the Company generally utilizes the estimated annual effective tax rate method which involves the use of forecasted information. The discrete method of calculating the estimated effective tax rate involves the use of actual year-to-date information. The Company applied the discrete effective tax rate method for the period ended September 30, 2023. The Company determined that since nominal changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate, the discrete effective tax rate method would provide a more reliable estimate of income tax expense for the three and nine months ended September 30, 2023.

For the three months ended September 30, 2023, the Company recorded a tax expense and valuation allowance of $11.1 million on the basis of management’s reassessment of the amount of its deferred tax assets that are more likely than not to be realized. Income tax expense was $11.0 million and $29,000 for the three and nine months ended September 30, 2023, respectively. The Company did not have income tax expense or income tax benefit for the three and nine months ended September 30, 2022.

The effective tax rates for the three months ended September 30, 2023, and 2022 were 27.4% and 0.0%, respectively. The effective tax rates for the nine months ended September 30, 2023, and 2022 were 0.0% and 0.0%, respectively. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate for the three months ended September 30, 2023, was the discrete tax expense of recording valuation allowance against U.S. net deferred tax assets. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21% and the

effective tax rate of 0.0% for the nine months ended September 30, 2023, was the change in valuation allowance which offset the tax benefit of book losses. The item that had the most significant impact on the difference between the statutory U.S. federal income tax rate of 21% and the effective tax rate of 0.0% for the three and nine months ended September 30, 2022, was the change in valuation allowance which offset the tax benefit of book losses.

As of September 30, 2023, the Company’s U.S. federal and certain state tax returns remain subject to examination, beginning with those filed for the year ended December 31, 2013.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Common Stock and Convertible Preferred Stock

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

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

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield percentage							0.00%
Stock options percentage							110.00%
Common stock options exercises shares (in Shares)							1,458
Shares reserved for future issuance	16,296,952						16,296,952
Aggregate intrinsic value (in Dollars)	$ 16,304						$ 16,304
Stock options, Options exercises							415,615
Unrecognized compensation expense (in Dollars)							$ 11,900
Weighted-average period							3 years 4 months 24 days
Aggregate intrinsic value of outstanding options	$ 21,683						$ 21,683
Business acquisition shares exchange ratio	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%	0.23334%
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance	938,771						938,771
Fair value options per share (in Dollars per share)	$ 11.39						$ 11.39
Unrecognized compensation expense, total	$ 10,200						$ 10,200
Stock-based compensation expense, recognition period							2 years 8 months 12 days
2008 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Capital stock percentage							10.00%
Capital stock duration							10 years
2018 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Capital stock percentage							10.00%
Capital stock duration							10 years
Stock options percentage							100.00%
2023 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted shares (in Shares)							1,170,685
Stock options vesting period							4 years
Stock options vesting percentage							25.00%
Stock options, Options vested							0
Stock options, Options exercises							0
2023 Plan \| Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted shares (in Shares)							938,771
Stock options vesting period							4 years
Stock options vesting percentage							25.00%
Stock options, Options vested							0
Stock options, Options exercises							0
2008, 2018 Stock Plan and the 2023 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance	4,649,266						4,649,266

Long-Term Debt

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consisted of the following (in thousands):


	September 30, 2023			December 31, 2022
Convertible Promissory Note	$	50,000		$	—
Series 2022-1 Notes		—			20,833
Total		50,000			20,833
Less: unamortized debt discount and issuance costs		(20,666	)		(191	)
Less: current portion		—			(10,000	)
Long-term debt, net of unamortized debt discount and current portion	$	29,334		$	10,642

Convertible Promissory Notes

On January 9, 2023, the Company entered into the Note Purchase Agreement with L1 Energy pursuant to which the Company issued the Convertible Promissory Note. Outstanding borrowings under the Convertible Promissory Note bears interest at a rate of 5.0% per year. The principal amount of the Convertible Promissory Note is due at the maturity date of January 9, 2026, and interest is payable semiannually beginning July 2023. As of September 30, 2023, there was $0.6 million of accrued interest in the condensed consolidated balance sheet.

Under the terms of the Note Purchase Agreement, the Convertible Promissory Note may be converted at the option of the note holder into shares of Common Stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company's capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date. In addition, the note holder may accelerate the repayment of the Convertible Promissory Note upon an event of default and the maturity will automatically be accelerated in the event of the Company’s insolvency or bankruptcy.

As a result of the Business Combination, the conversion options were bifurcated and accounted for as derivatives. Upon recognition, the Company recorded the conversion options at fair value and associated debt discount of $23.5 million. On September 24, 2023, the Company and L1 Energy entered into the Convertible Note Amendment which modified the conversion terms of the Convertible Promissory Notes. As a result, the conversion options no longer met the criteria to be bifurcated into a convertible note derivative liability; instead, the conversion options will now be reclassified to equity under ASC Topic 815, Derivatives and Hedging.

Immediately prior to the execution of the Convertible Note Amendment, the Company fair valued the convertible note derivative liability at $11.3 million. Please refer to Note 6, “Fair Value of Financial Instruments”, for further detail on the inputs for the final fair value calculation. The resulting change in fair value was recorded in the Company’s condensed consolidated statement of operation and

comprehensive income (loss). Subsequently, the convertible note derivative liability was reclassified to an equity classified derivative and was recorded into additional paid-in capital on the Company’s condensed consolidated balance sheet.

Future aggregate principal maturities of long-term debt are as follows as of September 30, 2023 (in thousands):


Remainder of 2023	$	—
2024		—
2025		—
2026		50,000
Thereafter		—
	$	50,000

Series 2022-1 Notes

In January 2023, concurrently with the Convertible Promissory Note transaction, the Company repaid the Series 2022-1 Notes in full with the proceeds from the Convertible Promissory Note and wrote off $0.2 million of unamortized debt issuance costs related to the previously outstanding Series 2022-1 Notes, which are included in loss on debt extinguishment on the condensed consolidated statements of operations and comprehensive income (loss).

Senior Bonds

In January 2022, concurrently with the Series 2022-1 Notes transaction, the Company repaid the Senior Bonds in full with the proceeds from the Series 2022-1 Notes and wrote off $0.5 million of unamortized debt issuance costs related to the previously outstanding Senior Bonds and $3.1 million of expenses related to lender fees on the Series 2022-1 Notes, which are included in loss on debt extinguishment on the condensed consolidated statements of operations and comprehensive income (loss).

Net debt issuance costs are presented as a direct reduction of the Company’s long-term debt in the condensed consolidated balance sheets and amount to $23.9 million and $0.2 million as of September 30, 2023, and December 31, 2022, respectively. During the three months ended September 30, 2023, and 2022, the Company recorded amortization of $2.2 and $0.1 million, respectively, to interest expense pertaining to debt issuance costs. During the nine months ended September 30, 2023, and 2022, the Company recorded amortization of $3.2 million and $0.2 million, respectively, to interest expense pertaining to debt issuance costs.

Long-Term Debt - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 09, 2023	Jan. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 24, 2023	Jan. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Cash received from promissory note purchase agreement	$ 50,000,000
Convertible promissory note, interest rate	5.00%
Convertible promissory note, maturity date					Jan. 09, 2026
Convertible promissory note, frequency of periodic payment					interest is payable semiannually beginning July 2023.
Convertible promissory note conversion, description					the Convertible Promissory Note may be converted at the option of the note holder into shares of Common Stock or an equivalent equity instrument resulting from a public company event. The conversion price is based on a pre-money valuation divided by the aggregate number of the Company’s outstanding shares at the issuance date and adjusted for any cash dividends paid on the Company's capital stock. The conversion price and number of conversion shares are subject to standard anti-dilution adjustments. Upon a change of control event the note holder may (i) convert the Convertible Promissory Note immediately prior to the event into the Company’s common stock at a conversion price equal to the lesser of the Convertible Promissory Note’s original conversion price or the price per share of the Company’s common stock implied by the change of control event transaction agreement or (ii) require the redemption of the Convertible Promissory Note in cash, including the payment of a make-whole amount of all unpaid interest that would have otherwise been payable had the Convertible Promissory Note remained outstanding through the maturity date.
Accrued interest					$ 600,000
Debt discount			$ 23,500,000		23,500,000
Convertible note derivative liability							$ 11,300,000
Other Long-Term Debt			23,900,000		23,900,000				$ 200,000
Amortization of debt issuance cost interest expense			$ 2.2	$ 100,000	$ 3,200,000	$ 200,000
Series 2022-1 Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs								$ 200,000
Senior Bonds
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 500,000
Lender fees		$ 3,100,000

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

Common Stock and Convertible Preferred Stock

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

11.

Common Stock and Convertible Preferred Stock

Common Stock

The Company is authorized to issue 150,000,000 shares of Common Stock. Each share of Common Stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders.

In connection with the Business Combination, the Company issued 1,700,498 shares of Common Stock to former stockholders of ROCG and 118,021 shares of Common Stock to Roth Capital Partners, LLC.

Common Stock Reserved for Future Issuance

Shares of Common Stock reserved for future issuance, on an as-if converted basis, were as follows:


	As of September 30, 2023
Stock options issued and outstanding		5,145,445
Restricted stock units issued and outstanding		938,771
Shares available for potential conversion of L1 Convertible Note		5,305,437
Shares available for fSight Contingent Shares		258,033
Shares available for grant under 2023 Equity Incentive Plan		4,649,266
		16,296,952

Common Stock Warrants

Legacy Tigo had outstanding warrants to purchase 1,915,372 shares of Legacy Tigo common stock (“Legacy Warrants”), which (prior to the consummation of the Business Combination) represented rights to purchase Legacy Tigo common stock. During the three and nine months ended September 30, 2023, 1,915,372 Legacy Warrants were net exercised resulting in the issuance of 1,491,229 shares of Common Stock. As of September 30, 2023, there were no Legacy Warrants outstanding.

In connection with the Business Combination, the Company assumed 5,750,000 warrants originally issued as part of ROCG’s units in ROCG’s initial public offering (the “Public Warrants”) and 18,750 warrants issued to the initial stockholders of ROCG in a private placement in connection with ROCG’s initial public offering (the “Private Warrants” and, together with the Public Warrants, the “Warrants”), which, in each case, entitle the holder to purchase one share of Common Stock at an exercise price of $11.50 per share. Except with respect to certain registration rights and transfer restrictions, the Private Warrants are identical to the Public Warrants. The Company has analyzed the Warrants and determined they are freestanding instruments and do not exhibit any of the characteristics in ASC 480, Distinguishing Liabilities from Equity, and therefore are not classified as liabilities under ASC 480, Distinguishing Liabilities from Equity.

On August 9, 2023, the Company announced the redemption of all of its outstanding Public Warrants and Private Warrants to purchase shares of Common Stock that were issued under the Warrant Agreement, dated as of August 5, 2021, by and among the Company and Continental Stock Transfer & Trust Company, as warrant agent, at a redemption price of $0.01 per Warrant for those Warrants that remain outstanding following 5:00 p.m. New York City time on September 8, 2023.

Under the terms of the Warrant Agreement, the Company was entitled to redeem all of its outstanding Warrants for $0.01 per Warrant if the reported closing price of the Company’s Common Stock was at least $18.00 per share on each of twenty trading days within a thirty trading day period ending on the third trading day prior to the date on which a notice of redemption is given. This performance threshold was achieved following the market close on August 4, 2023.

A total of 324,546 Warrants were exercised through September 8, 2023, resulting in proceeds, net of issuance costs, of $3.7 million. All other Warrants were redeemed on September 8, 2023.

The Company paid $0.1 million for the remaining Warrants that were not exercised as of September 8, 2023, which was recorded as a reduction to additional paid-in capital on the Company's condensed consolidated balance sheet. During the three and nine months ended September 30, 2023, there were 324,546 exercises of Warrants.

Convertible Preferred Stock

In connection with the Business Combination, as discussed in Note 3, the Company issued 47,918,992 shares of Common Stock to holders of convertible preferred stock of Legacy Tigo. No convertible preferred securities were outstanding as of September 30, 2023. Prior to the Business Combination, Legacy Tigo's convertible preferred stock was classified outside of stockholders’ deficit because the shares contained deemed liquidation rights that were contingent redemption features not solely within the control of Legacy Tigo. As a result, all of Legacy Tigo's convertible preferred stock was classified as mezzanine equity.

During the nine months ended September 30, 2022, Legacy Tigo sold an aggregate of 7,832,394 shares of its Series E convertible preferred stock (“Series E”) in exchange for gross proceeds of $41.0 million. Legacy Tigo incurred $0.1 million in issuance costs for the Series E sale.


(in thousands, except for share data)	Shares Authorized		Shares Issued and Outstanding		Carrying Value		Aggregate Liquidation Preference
Series E		8,601,120		7,832,394	$	40,770	$	45,371
Series D		11,513,253		11,513,253		22,192		29,831
Series C-1		9,020,682		9,020,682		2,180		18,000
Series C		6,318,524		6,070,151		11,647		13,442
Series B-4		7,172,501		7,172,501		7,582		11,199
Series B-3		1,546,441		1,546,441		862		2,620
Series B-2		174,208		174,208		105		340
Series B-1		1,863,215		1,863,215		611		2,918
Series A-4		570,976		570,976		661		4,182
Series A-3		466,245		466,245		260		1,604
Series A-2		149,281		149,281		160		1,021
Series A-1		88,216		88,216		110		679
		47,484,663		46,467,565	$	87,140	$	131,207

Convertible Preferred Stock Warrants

Warrants to purchase a total of 1,064,446 shares of Series C convertible preferred stock of Legacy Tigo were initially recognized as a liability and recorded at fair value upon issuance and were subject to remeasurement to fair value at each balance sheet date. As part of the Business Combination, Legacy Tigo convertible preferred stock was remeasured immediately before the Merger date, and was subsequently converted into Legacy Tigo common stock pursuant to the conversion rate in effect immediately prior to the consummation of the Business Combination and all related Legacy Tigo convertible preferred stock warrants were converted into warrants exercisable for shares of Common Stock with terms consistent with the Legacy Tigo convertible preferred stock warrants except for the number of shares exercisable and the exercise price, each of which was adjusted using the Exchange Ratio. In connection with the Business Combination, as discussed in Note 3, all outstanding Series C convertible preferred stock warrants were exercised resulting in the net issuance of 828,733 shares of convertible preferred stock which were immediately converted into Common Stock in connection with the recapitalization. As of September 30, 2023, there were no convertible preferred stock warrants outstanding.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Schedule of long-term debt

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-term debt consisted of the following (in thousands):


	September 30, 2023			December 31, 2022
Convertible Promissory Note	$	50,000		$	—
Series 2022-1 Notes		—			20,833
Total		50,000			20,833
Less: unamortized debt discount and issuance costs		(20,666	)		(191	)
Less: current portion		—			(10,000	)
Long-term debt, net of unamortized debt discount and current portion	$	29,334		$	10,642

Schedule of Future Aggregate Principal Maturities of Long-Term Debt

Future aggregate principal maturities of long-term debt are as follows as of September 30, 2023 (in thousands):


Remainder of 2023	$	—
2024		—
2025		—
2026		50,000
Thereafter		—
	$	50,000

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

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

Selected Financial Data

9 Months Ended

Sep. 30, 2023

Disclosure Text Block Supplement [Abstract]

Selected Financial Data

Selected financial data as of the dates presented below is as follows (in thousands, except useful life data):


Inventory, net	September 30, 2023			December 31, 2022
Raw materials	$	1,063		$	1,869
Work in process		—			31
Finished goods		57,448			23,293
Inventory reserve		(1,074	)		(278	)
Inventory, net	$	57,437		$	24,915


Property and equipment, net	Estimated Useful Life	September 30, 2023		December 31, 2022
Machinery and equipment	7 years	$	5,297	$	3,881
Vehicles	5 years		31		31
Computer software	5 years		201		185
Computer equipment	5 years		571		526
Furniture and fixtures	5 years		208		179
Leasehold improvements	3 - 6 years		236		42
Construction in progress			2		—
			6,546		4,844
Less: Accumulated depreciation			3,783		3,192
Property and equipment, net		$	2,763	$	1,652

For the three months ended September 30, 2023, and 2022 the Company recorded depreciation expense of $0.2 million and $0.2 million, respectively, in the condensed consolidated statements of operations and comprehensive income (loss). For the nine months

ended September 30, 2023, and 2022 the Company recorded depreciation expense of $0.6 million and $0.4 million, respectively, in the condensed consolidated statements of operations and comprehensive income (loss).


Accrued expenses and other current liabilities	September 30, 2023		December 31, 2022
Accrued vacation	$	1,009	$	829
Accrued compensation		1,647		624
Accrued interest		583		9
Accrued professional fees		911		2,502
Accrued warehouse and freight		1,093		143
Accrued other		1,443		275
Other current liabilities(1)		1,995		—
Accrued expenses and other current liabilities	$	8,681	$	4,382

(1)

Nature of Operations

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

Tigo Energy, Inc. (f/k/a Roth CH Acquisition IV Co.) (the “Company” or “Tigo”) consists of Tigo Energy, Inc., its wholly-owned direct subsidiary: Tigo Energy MergeCo, Inc. (f/k/a Tigo Energy, Inc.) (“Legacy Tigo”), and its wholly-owned indirect subsidiaries: Tigo Energy Israel Ltd., Foresight Energy, Ltd. (“fSight”), Tigo Energy Italy SRL, Tigo Energy Systems Trading (Suzhou) Company, Limited and Tigo Energy Australia Pty Ltd. Prior to the consummation of the Business Combination (as defined below), the operations of the Company were conducted through Legacy Tigo. Legacy Tigo was incorporated in Delaware in 2007 and commenced operations in 2010.

The Company provides solar and energy storage solutions, including Module Level Power Electronics (“MLPE”) designed to maximize the energy output of individual solar modules, delivering more energy, active management, and enhanced safety for utility, commercial, and residential solar arrays. The Company is headquartered in Campbell, California with offices in Europe, Asia, Australia, and the Middle East.

Entry into a Material Definitive Agreement

On December 5, 2022, Roth CH Acquisition IV Co., a Delaware corporation (“ROCG”), Roth IV Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of ROCG (“Merger Sub”), and Legacy Tigo, entered into an Agreement and Plan of Merger, as amended on April 6, 2023 (the “Merger Agreement”), pursuant to which, among other transactions, on May 23, 2023 (the “Closing Date”), Merger Sub merged with and into Legacy Tigo (the “Merger”), with Legacy Tigo surviving the Merger as a wholly-owned subsidiary of ROCG (the Merger, together with the other transactions described in the Merger Agreement, the “Business Combination”). In connection with the closing of the Business Combination, ROCG changed its name to “Tigo Energy, Inc.”

Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) promulgated by the Financial Accounting Standards Board (“FASB”).

Pursuant to the Business Combination, the merger between ROCG and Legacy Tigo was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, ROCG was treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Legacy Tigo issuing stock for the net assets of ROCG, accompanied by a recapitalization. The net assets of ROCG are stated at historical cost, with no goodwill or other intangible assets recorded. The consolidated assets, liabilities and results of operations prior to the Reverse Recapitalization are those of Legacy Tigo. The shares and corresponding capital amounts and earnings per share available for common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination. Please refer to Note 3 “Merger with Roth CH Acquisition IV Co.” for additional details regarding the Business Combination.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly Tigo’s condensed consolidated balance sheet as of September 30, 2023 and its condensed consolidated statements of operations and comprehensive income (loss), cash flows, and convertible preferred stock and stockholders’ equity (deficit) for the three and nine months ended September 30, 2023 and 2022. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023. The unaudited condensed consolidated financial statements, presented herein, do not contain all of the required disclosures under GAAP for annual consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2022, has been derived from the audited consolidated balance sheet as of that date. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes thereto for the year ended December 31, 2022.

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

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

Acquisition of Foresight Energy, Ltd. - Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands

Jan. 25, 2023

Sep. 30, 2023

Other long-term liabilities

$ 714

Developed Technology

$ 1,800

1,800

Customer Relationships

200

Fair value of common stock issued

200

fSight

Consideration transferred:

^[1]

10,974

Fair value of contingent shares

^[1]

2,167

Deemed settlement of loan payable

^[1]

527

Total consideration

^[1]

13,668

Cash and cash equivalents

Accounts receivable

117

Property and equipment

13,668

Goodwill

13,079

Total assets acquired

15,250

Other current liabilities

Accounts payable

418

Accrued expenses

294

Other long-term liabilities

781

fSight | Developed Technology

13,668

1,820

fSight | Customer Relationships

1,820

170

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

$ 170

[1]

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

Fair Value of Financial Instruments - Schedule of fair value of the derivative liabilities is estimated using the Black-Scholes option pricing model (Details)

9 Months Ended

Sep. 24, 2023

Sep. 30, 2023

Sep. 30, 2022

Expected volatility

68.10%

55.00%

Risk-free interest rate

4.10%

3.20%

Expected term (in years)

6 years

7 years

Derivative Liability

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Expected volatility

^[1]

58.60%

Risk-free interest rate

^[1]

4.90%

Expected term (in years)

^[1]

2 years 3 months 18 days

[1]	The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment.

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

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

Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

13.

Leases

As a lessee, the Company currently leases office space and vehicles in the United States, Italy, Israel, China, and Thailand. All of the Company leases are classified as operating leases. The Company has no leases classified as finance or sales-type leases. For leases with terms greater than 12 months, the Company records the related assets and obligations at the present value of lease payments over the term. Many of its leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments.

When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The majority of the Company’s leases have remaining lease terms of one to seven years, some of which include options to extend the leases for up to eight years, and some of which include options to terminate the leases within one year.

The components of lease expense are as follows (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2023		2023
Operating lease costs	$	325	$	802
Variable lease costs		99		234
Total lease cost	$	424	$	1,036

Other information related to leases was as follows:


	Nine Months Ended September 30,
Supplemental Cash Flows Information (in thousands)	2023
Cash paid for amounts included in the measurement of lease liabilities	$	2,187


	September 30, 2023			December 31, 2022
Weighted average remaining lease term (years)		3.0			2.7
Weighted average discount rate		5.0	%		5.4	%

Future maturities of lease liabilities were as follows as of September 30, 2023:


(in thousands)	Operating Leases
Remainder of 2023	$	328
2024		1,300
2025		549
2026		385
2027		335
Thereafter		64
Total future minimum lease payments	$	2,961
Less: imputed interest		230
Present value of lease liabilities	$	2,731

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

Condensed Consolidated Statements of Convertible Preferred Stock and Changes In Stockholders' Equity (Deficit) - USD ($)
$ in Thousands

Total

Convertible Preferred Stock

Preferred Stock

Convertible Preferred Stock

Common Stock

Additional Paid-in Capital

Notes Receivable from Related Parties

Accumulated Deficit

Accumulated Comprehensive Income

Balance, before retroactive conversion

$ (49,896)

$ 46,370

$ 2

$ 5,383

$ (103)

$ (55,178)

Retroactive application

$ (1)

Retroactive application, shares

^[1]

(126,942,949)

(15,778,049)

Balance, before retroactive conversion, shares

^[1]

165,578,120

20,580,109

Beginning balance at Dec. 31, 2021

(49,896)

$ 46,370

$ 1

5,384

(103)

(55,178)

Beginning balance, shares at Dec. 31, 2021

^[1]

38,635,171

4,802,060

Issuance of common stock upon exercise of stock options

Issuance of common stock upon exercise of stock options, shares

^[1]

26,797

Ending balance, shares at Mar. 31, 2022

(5,697)

^[1]

38,635,171

4,828,857

Ending balance at Mar. 31, 2022

(55,550)

$ 46,370

$ 1

5,427

(103)

(60,875)

Beginning balance at Dec. 31, 2021

(49,896)

$ 46,370

$ 1

5,384

(103)

(55,178)

Beginning balance, shares at Dec. 31, 2021

^[1]

38,635,171

4,802,060

Ending balance, shares at Sep. 30, 2022

(7,940)

^[1]

46,467,565

5,046,444

Ending balance at Sep. 30, 2022

(57,324)

$ 87,210

$ 1

5,896

(103)

(63,118)

Beginning balance at Mar. 31, 2022

(55,550)

$ 46,370

$ 1

5,427

(103)

(60,875)

Beginning balance, shares at Mar. 31, 2022

^[1]

38,635,171

4,828,857

Issuance of common stock upon exercise of stock options

Issuance of common stock upon exercise of stock options, shares

^[1]

9,850

Proceeds from sale of Series E, net of issuance costs

$ 21,712

Proceeds from sale of Series E, net of issuance costs, shares

^[1]

4,175,321

Ending balance, shares at Jun. 30, 2022

178

^[1]

42,810,492

4,838,707

Ending balance at Jun. 30, 2022

(55,340)

$ 68,082

$ 1

5,459

(103)

(60,697)

Issuance of common stock upon exercise of stock options

Issuance of common stock upon exercise of stock options, shares

^[1]

207,738

Proceeds from sale of Series E, net of issuance costs

341

$ 19,128

Proceeds from sale of Series E, net of issuance costs, shares

^[1]

3,657,073

Ending balance, shares at Sep. 30, 2022

(2,421)

^[1]

46,467,565

5,046,444

Ending balance at Sep. 30, 2022

(57,324)

$ 87,210

$ 1

5,896

$ (103)

(63,118)

Balance before retroactive application of recapitalization

(55,692)

$ 87,140

6,521

(62,215)

Retroactive application

$ (1)

Retroactive application, shares

^[1]

(152,677,720)

(17,972,432)

Balance before retroactive application of recapitalization, shares

^[1]

199,145,285

23,442,353

Beginning balance at Dec. 31, 2022

(55,692)

$ 87,140

$ 1

6,522

(62,215)

Beginning balance, shares at Dec. 31, 2022

^[1]

46,467,565

5,469,921

Issuance of common stock upon exercise of stock options

Issuance of common stock upon exercise of stock options, shares

^[1]

140,545

Issuance of common stock in connection with the acquisition of fSight, shares

366

^[1]

1,306,385

Issuance of common stock in connection with the acquisition of fSight

10,077

Unrealized gain (loss) resulting from change in fair value of marketable securities

$ 14

Stock Issued During Period, Shares, Acquisitions

^[1]

1,306,385

Ending balance, shares at Mar. 31, 2023

6,910

^[1]

46,467,565

6,916,851

Ending balance at Mar. 31, 2023

(38,233)

$ 87,140

$ 1

17,057

(55,305)

Beginning balance at Dec. 31, 2022

(55,692)

$ 87,140

$ 1

6,522

(62,215)

Beginning balance, shares at Dec. 31, 2022

^[1]

46,467,565

5,469,921

Conversion of convertible preferred stock into common stock in connection with the Business Combination

87,140

$ (87,140)

$ 5

87,135

Conversion of convertible preferred stock into common stock in connection with the Business Combination, shares

^[1]

(47,918,992)

47,918,992

Ending balance, shares at Jun. 30, 2023

^[1]

58,144,543

Ending balance at Jun. 30, 2023

30,434

$ 6

120,671

(90,062)

(181)

Beginning balance at Dec. 31, 2022

$ (55,692)

$ 87,140

$ 1

6,522

(62,215)

Beginning balance, shares at Dec. 31, 2022

^[1]

46,467,565

5,469,921

Issuance of common stock upon exercise of stock options, shares

415,615

Issuance of preferred stock upon exercise of preferred warrants

$ 2,008

Ending balance, shares at Sep. 30, 2023

13,790

^[1]

58,733,366

Ending balance at Sep. 30, 2023

75,827

$ 6

136,983

(61,006)

(156)

Beginning balance at Mar. 31, 2023

(38,233)

$ 87,140

$ 1

17,057

(55,305)

Beginning balance, shares at Mar. 31, 2023

^[1]

46,467,565

6,916,851

Issuance of common stock upon exercise of stock options

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)

Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes, shares

^[1]

(11,832)

Unrealized gain (loss) resulting from change in fair value of marketable securities

497

(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

Issuance of preferred stock upon exercise of preferred warrants, shares

^[1]

193,372

Issuance of common stock upon exercise of common warrants, shares

^[1]

1,491,229

Purchase price adjustment in connection with the fSight acquisition

897

Issuance of common stock upon Business Combination, shares

^[1]

1,818,519

Issuance of common stock upon Business Combination, value

573

Ending balance, shares at Jun. 30, 2023

(22,176)

^[1]

58,144,543

Ending balance at Jun. 30, 2023

30,434

$ 6

120,671

(90,062)

(181)

Issuance of common stock upon exercise of stock options

106

Issuance of common stock upon exercise of stock options, shares

^[1]

264,277

Issuance of common stock upon exercise of common stock warrants, net of issuance costs and payments to warrant holders of non-redeemed warrants

3,653

Issuance of common stock upon exercise of common stock warrants, net of issuance costs and payments to warrant holders of non-redeemed warrants, shares

^[1]

324,546

Reclassification of convertible note derivative liability to equity

11,279

Unrealized gain (loss) resulting from change in fair value of marketable securities

1,274

Ending balance, shares at Sep. 30, 2023

29,056

^[1]

58,733,366

Ending balance at Sep. 30, 2023

$ 75,827

$ 6

$ 136,983

$ (61,006)

$ (156)

[1]	The shares of the Company’s common and redeemable convertible preferred stock prior to the Business Combination (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 0.233335 established in the Business Combination as described in Note 3.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

12.

Stock-Based Compensation

The Company adopted the 2008 Stock Plan (“2008 Plan”) under which it may issue stock options to purchase shares of common stock, and award restricted stock and stock appreciation rights to employees, Directors and consultants. The 2008 Plan expired in March 2018 and all award issuance therefore ceased. Options generally vest over a four-year period with a one-year cliff. The option term is no longer than five years for incentive stock options for which the grantee owns greater than 10% of the Company’s capital stock and no longer than 10 years for all other options. The Company has a repurchase option on unvested restricted stock exercisable upon the voluntary or involuntary termination of the purchaser’s employment with the Company for any reason. The Company’s repurchase right lapses in accordance with the vesting terms. Through September 30, 2023, there have been no exercises of common stock options prior to the vesting of such options. Options outstanding under the 2008 Plan will remain outstanding until they are exercised, canceled or expire.

In May 2018, the Company adopted the 2018 Stock Plan (“2018 Plan”) under which the Company may issue stock options to purchase shares of common stock, and award restricted stock and stock appreciation rights to employees, Directors and consultants.

Under the 2018 Plan, the Board of Directors may grant incentive stock options or nonqualified stock options. Incentive stock options may only be granted to Company employees. The 2018 Plan expired in May 2023 and all award issuance therefore ceased. The exercise price of incentive stock options and non-qualified stock options cannot be less than 100% of the fair value per share of the Company’s common stock on the grant date. If an individual owns more than 10% of the Company’s outstanding capital stock, the price of each share incentive stock option will be at least 110% of the fair value. Fair value is determined by the Board of Directors. Options generally vest over a four-year period with a one-year cliff. The option term is no longer than five years for incentive stock options for which the grantee owns greater than 10% of the Company’s capital stock and no longer than 10 years for all other options. The Company has a repurchase option on unvested restricted stock exercisable upon the voluntary or involuntary termination of the purchaser’s employment with the Company for any reason. The Company’s repurchase right lapses in accordance with the vesting terms. Options outstanding under the 2018 Plan will remain outstanding until they are exercised, canceled or expire. Through September 30, 2023, there have been 1,458 exercises of common stock options prior to the vesting of such options.

In May 2023, the Company adopted the 2023 Equity Incentive Plan (“2023 Plan”) under which the Company may issue stock options to purchase shares of common stock, award restricted stock, restricted stock units (”RSU”), dividend equivalents, stock appreciation rights, and other stock-based or cash-based awards to employees, Directors and consultants.

Through September 30, 2023, the Company has granted 1,170,685 options to purchase shares of common stock and 938,771 RSU’s under the 2023 plan. The options and RSU’s generally vest over a four-year period following the date of grant, with 25% vesting on the first anniversary of the grant date and the remaining vesting in equal monthly installments thereafter. Through September 30, 2023, there have been no options or RSU’s under the 2023 plan that have vested and there have been no exercises of any options or RSU’s.

Collectively, the 2008 Stock Plan, 2018 Stock Plan and the 2023 Equity Incentive Plan are referred to as “the Plans”. The Company has reserved 4,649,266 shares of common stock for future issuance under the Plans.

The Company measures stock-based awards at their grant-date fair value and records compensation expense on a straight-line basis over the vesting period of the awards. The Company recorded stock-based compensation expense in the following expense categories in its accompanying condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Research and development	$	180	$	67	$	292	$	79
Sales and marketing		455		97		901		106
Cost of sales		59		30		113		35
General and administrative		580		147		831		173
Total stock-based compensation	$	1,274	$	341	$	2,137	$	393

Stock Options

The following table summarizes stock option activity for the Plans for the nine months ended September 30, 2023:


	Number of shares			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in 000's)
Outstanding at December 31, 2022		4,269,402		$	1.08		6.07
Granted		1,489,681		$	10.54
Exercised		(415,615	)	$	0.46
Cancelled		(198,023	)	$	2.56
Outstanding at September 30, 2023		5,145,445		$	3.81		6.61	$	21,683
Exercisable at September 30, 2023		2,625,266		$	0.80		4.29	$	16,304
Vested and expected to vest at September 30, 2023		5,145,445		$	3.81		6.61

The shares of the Company’s stock options prior to the Business Combination (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 0.233335 established in the Business Combination as described in Note 3.

As of September 30, 2023, the total unrecognized compensation expense related to unvested stock option awards was $11.9 million, which the Company expects to recognize over a weighted-average period of 3.4 years.

The fair value of options is estimated using the Black-Scholes option pricing model, which takes into account inputs such as the exercise price, the value of the underlying common stock at the grant date, expected term, expected volatility, risk-free interest rate and dividend yield. The fair value of each grant of options was determined using the methods and assumptions discussed below.

•

The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company's lack of sufficient historical data. The expected term of non-employee options is equal to the contractual term.

•

The expected volatility is based on historical volatilities of similar entities within the Company's industry which were commensurate with the expected term assumption as described in SAB No. 107.

•

The risk-free interest rate is based on the interest rate payable on U.S. Treasury securities in effect at the time of grant for a period that is commensurate with the assumed expected term.

•

The expected dividend yield is 0% because the Company has not historically paid and does not expect in the foreseeable future to pay a dividend on its common stock.

•

As the Company's common stock has not historically been publicly traded, its Board of Directors periodically estimated the fair value of the Company's common stock considering, among other things, contemporaneous valuations of its common stock prepared by an unrelated third-party valuation firm in accordance with the guidance provided by the American Institute of Certified Public Accountants 2013 Practice Aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation.

The fair value of each option was estimated on the date of grant using the weighted average assumptions in the table below:


	September 30, 2023			September 30, 2022
Expected volatility		68.1	%		55.0	%
Risk-free interest rate		4.1	%		3.2	%
Expected term (in years)		6.0			7.0
Expected dividend yield		—	%		—	%

Restricted Stock Units

The following table summarizes RSU activity for the Plans for the nine months ended September 30, 2023:


	Number of shares		Weighted average grant date fair value per share
Outstanding at December 31, 2022		—	$	—
Granted		938,771	$	11.39
Vested		—	$	—
Cancelled		—	$	—
Outstanding at September 30, 2023		938,771	$	11.39

As of September 30, 2023, the total unrecognized compensation expense related to unvested RSU's was $10.2 million, which the Company expects to recognize over a weighted-average period of 2.7 years.

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Goodwill and Intangible Assets Disclosure [Abstract]

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value	$ 58.1	$ 21.0
Carrying value	$ 29.3	$ 20.6

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets

14.

Goodwill and Intangible Assets

As of September 30, 2023, the Company had a goodwill balance of $13.1 million. The goodwill balance is primarily related to the acquisition of fSight, refer to “Note 4” for further information.

The Company's intangible assets by major asset class are as follows:


	September 30, 2023
(in thousands, except for useful life amounts)	Weighted Average Useful Life (Years)	Gross		Accumulated Amortization			Net Book Value
Amortizing:
Patents	6.7	$	450	$	(48	)	$	402
Customer relationships	10.0		170		(11	)		159
Developed technology	10.0		1,820		(121	)		1,699
Total intangible assets		$	2,440	$	(180	)	$	2,260

As of December 31, 2022, the Company did not have any intangible assets.

The Company recognized amortization expense related to intangible assets of $0.1 million for the three months ended September 30, 2023, and none for the three months ended September 30, 2022. The Company recognized amortization expense related to acquired intangible assets of $0.2 million for the nine months ended September 30, 2023, and none for the nine months ended September 30, 2022. Amortization expense is included in general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss).

Amortization expense related to intangible assets at September 30, 2023 in each of the next five years and beyond is expected to be incurred as follows (in thousands):


(in thousands)	Amount
Remainder of 2023	$	70
2024		270
2025		270
2026		270
2027		262
Thereafter		1,118
	$	2,260

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value, Option, Quantitative Disclosures [Line Items]

Schedule of company's assets that are measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:


	Fair value measurement at reporting date using
(in thousands)	(Level 1)		(Level 2)		(Level 3)(1)
September 30, 2023
Assets:
Cash equivalents:
Money market accounts	$	108	$	—	$	—
Marketable securities:
Corporate bonds	$	—	$	20,377	$	—
U.S. agency securities	$	—	$	18,398	$	—
Liabilities:
Contingent shares liability from fSight acquisition	$	1,809	$	—	$	—
December 31, 2022
Liabilities:
Preferred stock warrant liability	$	—	$	—	$	1,507

(1)

The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability.

Schedule of changes in fair value of the company's marketable securities

The following is a summary of the changes in fair value of the Company’s marketable securities as of September 30, 2023:


(in thousands)	Amortized cost		Unrealized gain		Unrealized loss			Fair value
Available-for-sale marketable securities:
Current assets
Corporate bonds	$	17,362	$	3	$	(80	)	$	17,285
U.S. agency securities		17,186		—	$	(31	)		17,155
Total		34,548		3		(111	)		34,440
Long-term assets
Corporate bonds		3,133		—		(41	)		3,092
U.S. agency securities		1,250		—		(7	)		1,243
Total		4,383		—		(48	)		4,335

Total available-for-sale marketable securities	$	38,931	$	3	$	(159	)	$	38,775

Schedule of changes in fair value of the company's preferred stock warrant liability


(in thousands)	Fair value of preferred stock warrant liability
Balance at January 1, 2022	$	487
Change in fair value		1,020
Balance at December 31, 2022		1,507
Change in fair value		501
Exercise of warrants		(2,008	)
Balance at September 30, 2023	$	—

Schedule of changes in fair value of Level 3 financial instruments

The table presented below is a summary of the changes in fair value of the Company’s Level 3 financial instruments.


(in thousands)	Fair value of contingent shares from fSight acquisition			Fair value of derivative liability
Balance at December 31, 2022	$	—		$	—
Fair value at inception		2,167			23,525
Change in fair value		29			(12,247	)
Transfer out of level 3		(2,196	)		(11,278	)
Balance at September 30, 2023	$	—		$	—

Warrant Liabilities

Fair Value, Option, Quantitative Disclosures [Line Items]

Schedule of fair value of the warrant and derivative liabilities is estimated using the Black-Scholes option pricing model

The fair value of the warrant liabilities was estimated using the Black-Scholes option pricing model using the following assumptions:


	May 23, 2023 (Merger Date)		As of December 31, 2022
Expected volatility	68% - 70%		70% - 76%
Risk-free interest rate	4.10% - 4.28%		4.22% - 4.34%
Expected term (in years)	2.0 - 2.6		2.4 - 3.0
Expected dividend yield		—		—
Fair value of Series C convertible preferred stock	$	1.89	$	1.82

Derivative Liability

Fair Value, Option, Quantitative Disclosures [Line Items]

Schedule of fair value of the warrant and derivative liabilities is estimated using the Black-Scholes option pricing model

The fair value of the convertible note derivative liability was estimated using the Black-Scholes option pricing model using the following assumptions:


	As of September 24, 2023 (1)
Expected volatility		58.6	%
Risk-free interest rate		4.9	%
Expected term (in years)		2.3
Expected dividend yield		—

(1)

The fair value of the convertible note derivative liability was remeasured on September 24, 2023, immediately prior to the execution of the Convertible Note Amendment.

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

Accrued Liabilities and Other Liabilities [Abstract]

Leases - Schedule of Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in the measurement of lease liabilities	$ 2,187
Weighted average remaining lease term (years)	3 years	2 years 8 months 12 days
Weighted average discount rate	5.00%	5.40%

Selected Financial Data - Schedule of Accrued Expenses and Other Current Liabilities (Details) (Parenthetical)
$ in Thousands

Sep. 30, 2023

USD ($)

Other current liabilities

$ 1,995

^[1]

[1]	Other current liabilities of $2.0 million for the period ended September 30, 2023, are primarily related to the contingent shares liability related to the acquisition of fSight in Q1 2023. See Note 4 for additional information.

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

Commitments and Contingencies

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10.

Commitments and Contingencies

Employment Agreements

The Company entered into employment agreements with key personnel providing compensation and severance in certain circumstances, as defined in the respective employment agreements.

Legal

In the normal course of business, the Company may become involved in litigation or legal disputes that are not covered by insurance. While the Company intends to vigorously defend itself with respect to such disputes, any potential outcomes resulting from such claims would be inherently difficult to quantify.

Indemnification Agreements

From time to time, in its normal course of business, the Company may indemnify other parties with which it enters into contractual relationships, including customers, lessors and parties to other transactions with the Company. The Company may agree to hold other parties harmless against specific losses, such as those that could arise from third-party claims or a breach of representation or covenant. It may not be possible to determine the maximum potential amount of liability under such indemnification agreements due to the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision.

The Company has also indemnified its Directors and Executive Officers, to the extent legally permissible, against all liabilities reasonably incurred in connection with any action in which such individual may be involved by reason of such individual being or having been a Director or Executive Officer.

The Company believes the current estimated fair value of any obligation from these indemnification agreements is minimal; therefore, these condensed consolidated financial statements do not include a liability for any potential obligations at September 30, 2023.

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

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

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

Acquisition of Foresight Energy, Ltd. (Tables) - fSight [Member]

9 Months Ended

Sep. 30, 2023

Schedule of Business Acquisitions, by Acquisition [Table]

Summary of Provisional Fair Values of Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the provisional fair values of the identifiable assets acquired and liabilities assumed at the date of the acquisition:


(in thousands)	At January 25, 2023
Consideration transferred (1):
Fair value of common stock issued	$	10,974
Fair value of contingent shares		2,167
Deemed settlement of loan payable		527
Total consideration	$	13,668

Assets Acquired
Cash and cash equivalents	$	55
Accounts receivable		117
Property and equipment		9
Developed technology		1,820
Customer relationships		170
Goodwill		13,079
Total assets acquired	$	15,250
Liabilities Assumed
Accounts payable	$	418
Accrued expenses		294
Other current liabilities		89
Other long-term liabilities		781
Net assets acquired	$	13,668

(1)

Summary of Supplemental Pro Forma Information


	Three Months Ended September 30,					Nine Months Ended September 30,
(in thousands)	2023		2022			2023		2022
Revenue, net	$	17,104	$	22,900		$	136,056	$	50,580
Net income (loss)	$	29,056	$	(2,466	)	$	13,644	$	(8,154	)

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

Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share to common stockholders:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, except share and per share data)	2023			2022			2023			2022
Basic net income (loss) per common share calculation:
Net income (loss) attributable to common stockholders	$	29,056		$	(4,523	)	$	10,391		$	(12,182	)
Undistributed earnings to preferred stock stockholders		—			—			(4,574	)		—
Net income (loss) attributable to common stockholders – basic	$	29,056		$	(4,523	)	$	5,817		$	(12,182	)
Weighted-average shares of common stock outstanding – basic		58,408,441			4,908,232			31,070,476			4,852,696
Net income (loss) per share of common stock – basic	$	0.50		$	(0.92	)	$	0.19		$	(2.51	)

Diluted net income (loss) per common share calculation:
Net income (loss) attributable to common stockholders	$	29,056		$	(4,523	)	$	10,391		$	(12,182	)
Reverse: interest expense and change in fair value on derivative liability		(47,623	)		—			(7,196	)		—
Net (loss) income attributable to common stockholders		(18,567	)		(4,523	)		3,195			(12,182	)
Undistributed earnings to preferred stock stockholders		—			—			(1,406	)		—
Net (loss) income attributable to common stockholders – diluted	$	(18,567	)	$	(4,523	)	$	1,789		$	(12,182	)
Weighted-average shares of common stock outstanding – basic		58,408,441			4,908,232			31,070,476			4,852,696
Outstanding options and restricted stock units		3,727,831			—			3,472,940			—
Legacy Tigo warrants and common stock warrants		927,049			—			813,569			—
Convertible promissory note		5,305,437			—			5,130,532			—
Weighted-average shares of common stock – diluted		68,368,758			4,908,232			40,487,517			4,852,696
Net (loss) income per share of common stock – diluted	$	(0.27	)	$	(0.92	)	$	0.04		$	(2.51	)

Summary of Anti-dilutive Shares Outstanding


	As of September 30,
	2023		2022
Convertible preferred stock		—		46,467,565
Convertible preferred stock warrants		—		248,372
Common stock warrants		—		1,915,372
Stock options		—		4,529,882
		—		53,161,191

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

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets by Major Asset Class

The Company's intangible assets by major asset class are as follows:


	September 30, 2023
(in thousands, except for useful life amounts)	Weighted Average Useful Life (Years)	Gross		Accumulated Amortization			Net Book Value
Amortizing:
Patents	6.7	$	450	$	(48	)	$	402
Customer relationships	10.0		170		(11	)		159
Developed technology	10.0		1,820		(121	)		1,699
Total intangible assets		$	2,440	$	(180	)	$	2,260

Schedule of Amortization Expense Related to Intangible Assets

Amortization expense related to intangible assets at September 30, 2023 in each of the next five years and beyond is expected to be incurred as follows (in thousands):


(in thousands)	Amount
Remainder of 2023	$	70
2024		270
2025		270
2026		270
2027		262
Thereafter		1,118
	$	2,260

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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

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

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense and valuation allowances	$ 11,100,000
Income tax expense benefit	$ 10,962,000	$ 0	$ 29,000	$ 0
Effective tax rates	27.40%	0.00%	0.00%	0.00%
U.S. federal income tax rate	21.00%	21.00%	21.00%	21.00%

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Convertible note derivative liability

Fair Value of Financial Instruments - Schedule of company's assets that are measured at fair value on a recurring basis (Details) - USD ($)
$ in Thousands

Sep. 30, 2023

Sep. 24, 2023

Dec. 31, 2022

Marketable securities:

Marketable securities

$ 4,335

Liabilities:

$ 11,300

Level 1 [Member]

Cash equivalents:

Money market accounts

108

Liabilities:

Contingent shares liability from fSight acquisition

1,809

Level 2 [Member] | Corporate bonds [Member]

Marketable securities:

Marketable securities

20,377

Level 2 [Member] | U.S. agency securities [Member]

Marketable securities:

Marketable securities

$ 18,398

Level 3 [Member]

Liabilities:

Preferred stock warrant liability

^[1]

$ 1,507

[1]	The Company utilized the Black-Scholes options pricing model to fair value the preferred stock warrant liability.

Related Party Transactions

9 Months Ended

Sep. 30, 2023

Related Party Transactions

16.

Related Party Transactions

Series C-1 Convertible Preferred Stock

The Series C-1 convertible preferred stock (Note 8) was issued to certain existing stockholders.

Note Receivable from Related Parties and Related Party Payable

As of September 30, 2022, there was $0.1 million of full recourse promissory notes from the Company’s Chief Executive Officer and former Directors. The full recourse promissory notes were forgiven in December 2022.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Fair Value of Financial Instruments - Schedule of fair value of the warrant liabilities is estimated using the Black-Scholes option pricing model (Details) - USD ($)		9 Months Ended		12 Months Ended
	May 23, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected volatility		68.10%	55.00%
Risk-free interest rate		4.10%	3.20%
Expected term (in years)		6 years	7 years
Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected volatility, minimum	68.00%			70.00%
Expected volatility, maximum	70.00%			76.00%
Risk-free interest rate, minimum	4.10%			4.22%
Risk-free interest rate, maximum	4.28%			4.34%
Fair value of Series C convertible preferred stock	$ 1,890			$ 1,820
Minimum [Member] \| Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected term (in years)	2 years			2 years 4 months 24 days
Maximum [Member] \| Warrant Liabilities
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Expected term (in years)	2 years 7 months 6 days			3 years

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

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

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

Revenue Recognition

9 Months Ended

Sep. 30, 2023

Revenues [Abstract]

Revenue Recognition

Geographic Revenue, Net

The Company sells its products in the Americas (North and South America), EMEA (Europe, Middle East, and Africa), and APAC (Asia-Pacific) regions.

The following table summarizes revenue, net by major geographic region (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
EMEA	$	10,241	$	13,999	$	105,595	$	30,861
Americas		3,576		6,681		21,776		15,818
APAC		3,287		2,144		8,617		3,703
Total revenue, net	$	17,104	$	22,824	$	135,988	$	50,382

Deferred Revenue

Deferred revenue or contract liabilities consists of payments received from customers in advance of revenue recognition for the Company’s products and service. The current portion of deferred revenue represents the unearned revenue that will be earned within 12 months of the balance sheet date. Correspondingly, noncurrent deferred revenue represents the unearned revenue that will be earned after 12 months from the balance sheet date.

The following table summarizes the changes in deferred revenue:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2023			2022			2023			2022
Balance at the beginning of the period	$	623		$	1,102		$	1,122		$	451
Deferral of revenue		4,673			5,347			27,842			12,200
Recognition of unearned revenue		(4,840	)		(5,770	)		(28,508	)		(11,972	)
Balance at the end of the period	$	456		$	679		$	456		$	679

As of September 30, 2023, the Company expects to recognize $0.5 million from remaining performance obligations over a weighted average term of 3.2 years.

The Company did not recognize any revenue that was included in the beginning contract liabilities balance during the three months ended September 30, 2023, and 2022. The Company recognized approximately $0.9 million and $0.2 million in revenue that was included in the beginning contract liabilities balance during the nine months ended September 30, 2023, and 2022, respectively.

Product Warranty

The Company estimates the cost of its warranty obligations based on several key estimates: the warranty period (which vary from 5 to 25 years depending on the product), its historical experience of known product failure rates, use of materials to repair or replace defective products and parts, and service delivery costs incurred in correcting product failures. In addition, from time to time, specific warranty accruals may be made if unforeseen technical problems arise. Should the actual experience relative to these factors differ from the estimates, the Company may be required to record additional warranty reserves.

The following table summarizes the changes in product warranty liability:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2023			2022			2023			2022
Balance at the beginning of the period	$	5,493		$	3,662		$	4,351		$	3,393
Provision for warranty		460			321			1,810			629
Warranty usage		(146	)		(66	)		(354	)		(105	)
Balance at the end of the period	$	5,807		$	3,917		$	5,807		$	3,917

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Summary of Components of Lease Expense

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

The components of lease expense are as follows (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2023		2023
Operating lease costs	$	325	$	802
Variable lease costs		99		234
Total lease cost	$	424	$	1,036

Schedule of Other Information

Other information related to leases was as follows:


	Nine Months Ended September 30,
Supplemental Cash Flows Information (in thousands)	2023
Cash paid for amounts included in the measurement of lease liabilities	$	2,187


	September 30, 2023			December 31, 2022
Weighted average remaining lease term (years)		3.0			2.7
Weighted average discount rate		5.0	%		5.4	%

Schedule of Future Maturities of Lease Liabilities

Future maturities of lease liabilities were as follows as of September 30, 2023:


(in thousands)	Operating Leases
Remainder of 2023	$	328
2024		1,300
2025		549
2026		385
2027		335
Thereafter		64
Total future minimum lease payments	$	2,961
Less: imputed interest		230
Present value of lease liabilities	$	2,731

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.