TurnOnGreen, Inc.

TurnOnGreen, Inc. designs, manufactures, and sells custom power conversion and power system solutions through its subsidiaries Digital Power Corporation and TOG Technologies Inc. The company also offers EV charging products and charging management software and network services for residential, commercial, and ultra-fast charging applications. It is based in the United States and serves customers across multiple industrial and mission-critical end markets.

−17,7 %

45,9 %

−29,2 %

+47,1 %

0.24

0.15

— TurnOnGreen, Inc.
%
Custom power conversion systems65% Highly engineered power supplies, converters, and control solutions for mission-critical applications.
EV charging hardware20% Residential, commercial, and ultra-fast EV charging products sold through TOGT.
Charging software and network services5% Software and services used to manage, monitor, and operate EV charging deployments.
Custom engineering and design services10% Application-specific design, firmware, and manufacturing support for customer power projects.

TurnOnGreen sells to customers that need specialized power solutions with tight technical requirements, including...

  • Defense and militaryprimary

    Buys custom power systems for mission-critical applications where reliability and specification compliance matter.

  • Commercial and industrialprimary

    Buys engineered power products and custom designs for equipment and facility applications.

  • Medicalsecondary

    Buys high-grade power solutions for regulated equipment and sensitive operating environments.

  • Telecommunicationssecondary

    Buys power conversion solutions for communications infrastructure and related systems.

  • EV charging customerssecondary

    Buys charging hardware, software, and network services for residential and commercial deployment.

TurnOnGreen is a U.S.-based company, and the disclosed operating and customer mix in the reports is centered on...

  • •Headquartered in the United States
  • •Revenue disclosure is by end market, not by country
  • •U.S. defense and commercial demand are important end markets
  • •Component sourcing from China affects cost structure
  • •EV charging products can be deployed across U.S. sites

The company’s strategy is to win custom power projects where design flexibility, product quality, and fast time to...

01
Win mission-critical custom power programsshort-term

These programs reward engineering depth, reliability, and customer-specific design.

02
Scale EV charging solutionsmedium-term

EV infrastructure broadens the company beyond legacy power products and can create recurring software/service revenue.

03
Leverage proprietary power technologymedium-term

Core design and process know-how can support product differentiation and customer retention.

The business depends on winning and executing custom projects, so delays, cancellations, or lower-than-expected volumes...

critical

Going-concern and liquidity risk

Recurring losses and negative working capital increase dependence on external financing.

Scope
Equity sales and term notes
Materiality
high
high

Customer concentration and project dependence

Revenue is driven by a limited number of custom programs, so delays or expirations can materially affect sales.

Scope
Defense, medical, and commercial projects
Materiality
high
high

China sourcing and tariff exposure

The company disclosed higher component costs from China and tariffs, which can pressure gross profit.

Scope
Imported electronic components
Materiality
high
medium

Execution risk in EV charging expansion

The company is extending into a broader product and software platform that requires market adoption and operational scale.

Scope
EV chargers, software, network services
Materiality
medium
Inventory valuation
Hardware and component write-down risk
Accruals for certain liabilities
Operating expense and balance sheet estimates
Revenue recognition on custom projects
Quarterly revenue volatility
Preferred stock and related-party interest
Earnings attributable to common shareholders
Going-concern assessment
Financial statement presentation and disclosure

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: 29/04/2026