Why Tigo Energy Shares Are Diving Today?
Portfolio Pulse from Lekha Gupta
Tigo Energy Inc's shares have fallen by around 20% following the company's weaker-than-expected Q3 FY23 preliminary financial results. The company has reduced its Q3 revenue outlook to $17 million-$18 million, down from the previously expected $41 million-$45 million. Tigo now anticipates an adjusted EBITDA loss for Q3, but the estimated amount will not be provided until the end of Q3. The company's backlog is projected to be within $66 million-$68 million as of Q3 FY23.
October 09, 2023 | 4:03 pm
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Tigo Energy's shares have dropped significantly due to weaker-than-expected Q3 FY23 preliminary financial results and a reduced revenue outlook. The company also expects an adjusted EBITDA loss for Q3.
Tigo Energy's shares have dropped due to the company's weaker-than-expected Q3 FY23 preliminary financial results and a reduced revenue outlook. This news is directly related to the company's financial performance and is likely to have a significant impact on the company's stock price in the short term.
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