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.
Revenue
$380.9M
Gross Profit
$178.2M
Operating Profit
$49.8M
Net Profit
$45.8M
Gross Margin
46.8%
Operating Margin
13.1%
Net Margin
12.0%
YoY Growth
-30.9%
EPS
$0.33
Enphase Energy Q3 FY2024 Financial Summary
Enphase Energy reported revenue of $380.9M (down 30.9% YoY) for Q3 FY2024, with a net profit of $45.8M (down 59.8% YoY) (12.0% margin). Cost of goods sold was $202.7M, operating expenses totaled $128.4M.
Key Financial Metrics
| Total Revenue | $380.9M |
|---|---|
| Net Profit | $45.8M |
| Gross Margin | 46.8% |
| Operating Margin | 13.1% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
Enphase Energy Q3 FY2024 revenue of $380.9M breaks down across 2 segments, led by Transferred At Point In Time at $348.7M (91.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Transferred At Point In Time | $348.7M | 91.5% |
| Transferred Over Time | $32.2M | 8.5% |
Enphase Energy Revenue by Segment — Quarterly Trend
Enphase Energy revenue by segment across the last 4 reported quarters, showing how each business line (such as Transferred At Point In Time and Transferred Over Time) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Transferred At Point In Time | — | $315.1M | $383.0M | $329.1M |
| Transferred Over Time | — | $28.3M | $27.4M | $34.1M |
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 |
Enphase Energy Quarterly Revenue & Net Profit History
Enphase Energy results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $282.9M | -20.6% | $-7.4M | -2.6% |
| Q4 FY2025 | $343.3M | -10.3% | $38.7M | 11.3% |
| Q3 FY2025 | $410.4M | +7.8% | $66.6M | 16.2% |
| Q2 FY2025 | $363.2M | +19.7% | $37.1M | 10.2% |
| Q1 FY2025 | $356.1M | +35.2% | $29.7M | 8.3% |
| Q4 FY2024 | $382.7M | +26.5% | $62.2M | 16.2% |
| Q3 FY2024 | $380.9M | -30.9% | $45.8M | 12.0% |
| Q2 FY2024 | $303.5M | -57.3% | $10.8M | 3.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $303.5M | $380.9M | $382.7M | $356.1M | $363.2M | $410.4M | $343.3M | $282.9M |
| YoY Growth | -57.3% | -30.9% | 26.5% | 35.2% | 19.7% | 7.8% | -10.3% | -20.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $3.17B | $3.26B | $3.25B | $3.11B | $3.18B | $3.32B | $3.51B | $2.72B |
| Liabilities | $2.28B | $2.33B | $2.42B | $2.30B | $2.30B | $2.33B | $2.42B | $1.62B |
| Equity | $884.5M | $931.4M | $833.0M | $810.7M | $880.6M | $995.0M | $1.09B | $1.10B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $127.1M | $170.1M | $167.3M | $48.4M | $26.6M | $13.9M | $47.6M | $102.9M |