Enphase EnergyENPHEarnings & Financial Report
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Enphase was established in 2006 and is the first company to successfully commercialize solar micro-inverters, which convert the direct current (DC) power generated by solar panels into grid-compatible alternating current (AC) for use or export.
ENPH Q4 2025 Key Financial Metrics
Revenue
$343.3M
Gross Profit
$152.0M
Operating Profit
$22.4M
Net Profit
$38.7M
Gross Margin
44.3%
Operating Margin
6.5%
Net Margin
11.3%
YoY Growth
-10.3%
EPS
$0.29
Financial Flow
Enphase Energy Q4 2025 Financial Summary
Enphase Energy reported revenue of $343.3M for Q4 2025, with a net profit of $38.7M (11.3% margin). Cost of goods sold was $191.3M, operating expenses totaled $129.6M.
Key Financial Metrics
| Total Revenue | $343.3M |
|---|---|
| Net Profit | $38.7M |
| Gross Margin | 44.3% |
| Operating Margin | 6.5% |
| Report Period | Q4 2025 |
Enphase Energy Annual Revenue by Year
Enphase Energy annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.5B |
| 2024 | $1.3B |
| 2023 | $2.3B |
| 2022 | $2.3B |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $263.3M | $303.5M | $380.9M | $382.7M | $356.1M | $363.2M | $410.4M | $343.3M |
| YoY Growth | -63.7% | -57.3% | -30.9% | 26.5% | 35.2% | 19.7% | 7.8% | -10.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $3.23B | $3.17B | $3.26B | $3.25B | $3.11B | $3.18B | $3.32B | $3.51B |
| Liabilities | $2.31B | $2.28B | $2.33B | $2.42B | $2.30B | $2.30B | $2.33B | $2.42B |
| Equity | $922.7M | $884.5M | $931.4M | $833.0M | $810.7M | $880.6M | $995.0M | $1.09B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $49.2M | $127.1M | $170.1M | $167.3M | $48.4M | $26.6M | $13.9M | $47.6M |
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