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Side-by-side financial comparison of Arhaus, Inc. (ARHS) and Enphase Energy (ENPH). Click either name above to swap in a different company.
Arhaus, Inc. is the larger business by last-quarter revenue ($364.8M vs $282.9M, roughly 1.3× Enphase Energy). Arhaus, Inc. runs the higher net margin — 4.1% vs -2.6%, a 6.8% gap on every dollar of revenue. On growth, Arhaus, Inc. posted the faster year-over-year revenue change (5.1% vs -20.6%). Over the past eight quarters, Arhaus, Inc.'s revenue compounded faster (11.2% CAGR vs -3.4%).
Arhaus, Inc.ARHSEarnings & Financial Report
Arhaus, Inc. is an upscale American home furnishings company headquartered in Boston Heights, Ohio. Founded in 1986 with a focus on sustainability and artisanship in product quality, Arhaus provides a diversified assortment of specialty goods and services addressing omnichannel direct-to-consumer and business-to-business residential and commercial operations.
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.
ARHS vs ENPH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $364.8M | $282.9M |
| Net Profit | $15.1M | $-7.4M |
| Gross Margin | 38.1% | 35.5% |
| Operating Margin | 5.6% | 54.0% |
| Net Margin | 4.1% | -2.6% |
| Revenue YoY | 5.1% | -20.6% |
| Net Profit YoY | -29.1% | -124.9% |
| EPS (diluted) | $0.11 | $-0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $282.9M | ||
| Q4 25 | $364.8M | $343.3M | ||
| Q3 25 | $344.6M | $410.4M | ||
| Q2 25 | $358.4M | $363.2M | ||
| Q1 25 | $311.4M | $356.1M | ||
| Q4 24 | $347.0M | $382.7M | ||
| Q3 24 | $319.1M | $380.9M | ||
| Q2 24 | $309.8M | $303.5M |
| Q1 26 | — | $-7.4M | ||
| Q4 25 | $15.1M | $38.7M | ||
| Q3 25 | $12.2M | $66.6M | ||
| Q2 25 | $35.1M | $37.1M | ||
| Q1 25 | $4.9M | $29.7M | ||
| Q4 24 | $21.3M | $62.2M | ||
| Q3 24 | $9.9M | $45.8M | ||
| Q2 24 | $22.2M | $10.8M |
| Q1 26 | — | 35.5% | ||
| Q4 25 | 38.1% | 44.3% | ||
| Q3 25 | 38.7% | 47.8% | ||
| Q2 25 | 41.4% | 46.9% | ||
| Q1 25 | 37.1% | 47.2% | ||
| Q4 24 | 40.0% | 51.8% | ||
| Q3 24 | 38.6% | 46.8% | ||
| Q2 24 | 40.1% | 45.2% |
| Q1 26 | — | 54.0% | ||
| Q4 25 | 5.6% | 6.5% | ||
| Q3 25 | 4.8% | 16.1% | ||
| Q2 25 | 13.0% | 10.2% | ||
| Q1 25 | 1.7% | 9.0% | ||
| Q4 24 | 8.2% | 14.3% | ||
| Q3 24 | 3.3% | 13.1% | ||
| Q2 24 | 9.5% | 0.6% |
| Q1 26 | — | -2.6% | ||
| Q4 25 | 4.1% | 11.3% | ||
| Q3 25 | 3.5% | 16.2% | ||
| Q2 25 | 9.8% | 10.2% | ||
| Q1 25 | 1.6% | 8.3% | ||
| Q4 24 | 6.1% | 16.2% | ||
| Q3 24 | 3.1% | 12.0% | ||
| Q2 24 | 7.2% | 3.6% |
| Q1 26 | — | $-0.06 | ||
| Q4 25 | $0.11 | $0.29 | ||
| Q3 25 | $0.09 | $0.50 | ||
| Q2 25 | $0.25 | $0.28 | ||
| Q1 25 | $0.03 | $0.22 | ||
| Q4 24 | $0.15 | $0.46 | ||
| Q3 24 | $0.07 | $0.33 | ||
| Q2 24 | $0.16 | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $253.4M | $497.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $418.2M | $1.1B |
| Total Assets | $1.4B | $2.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $497.5M | ||
| Q4 25 | $253.4M | $1.5B | ||
| Q3 25 | $262.2M | $1.5B | ||
| Q2 25 | $234.8M | $1.5B | ||
| Q1 25 | $214.4M | $1.5B | ||
| Q4 24 | $197.5M | $1.6B | ||
| Q3 24 | $177.7M | $1.8B | ||
| Q2 24 | $174.2M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $418.2M | $1.1B | ||
| Q3 25 | $400.4M | $995.0M | ||
| Q2 25 | $385.6M | $880.6M | ||
| Q1 25 | $348.8M | $810.7M | ||
| Q4 24 | $343.7M | $833.0M | ||
| Q3 24 | $320.6M | $931.4M | ||
| Q2 24 | $309.3M | $884.5M |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.4B | $3.5B | ||
| Q3 25 | $1.4B | $3.3B | ||
| Q2 25 | $1.3B | $3.2B | ||
| Q1 25 | $1.3B | $3.1B | ||
| Q4 24 | $1.2B | $3.2B | ||
| Q3 24 | $1.2B | $3.3B | ||
| Q2 24 | $1.2B | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $9.3M | $102.9M |
| Free Cash FlowOCF − Capex | $-8.8M | — |
| FCF MarginFCF / Revenue | -2.4% | — |
| Capex IntensityCapex / Revenue | 5.0% | — |
| Cash ConversionOCF / Net Profit | 0.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $102.9M | ||
| Q4 25 | $9.3M | $47.6M | ||
| Q3 25 | $46.1M | $13.9M | ||
| Q2 25 | $34.9M | $26.6M | ||
| Q1 25 | $46.5M | $48.4M | ||
| Q4 24 | $31.7M | $167.3M | ||
| Q3 24 | $31.1M | $170.1M | ||
| Q2 24 | $47.5M | $127.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-8.8M | $37.8M | ||
| Q3 25 | $28.0M | $5.9M | ||
| Q2 25 | $20.9M | $18.4M | ||
| Q1 25 | $18.9M | $33.8M | ||
| Q4 24 | $13.0M | $159.2M | ||
| Q3 24 | $4.6M | $161.6M | ||
| Q2 24 | $11.3M | $117.4M |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 11.0% | ||
| Q3 25 | 8.1% | 1.4% | ||
| Q2 25 | 5.8% | 5.1% | ||
| Q1 25 | 6.1% | 9.5% | ||
| Q4 24 | 3.7% | 41.6% | ||
| Q3 24 | 1.4% | 42.4% | ||
| Q2 24 | 3.6% | 38.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 2.8% | ||
| Q3 25 | 5.3% | 2.0% | ||
| Q2 25 | 3.9% | 2.3% | ||
| Q1 25 | 8.9% | 4.1% | ||
| Q4 24 | 5.4% | 2.1% | ||
| Q3 24 | 8.3% | 2.2% | ||
| Q2 24 | 11.7% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.62× | 1.23× | ||
| Q3 25 | 3.77× | 0.21× | ||
| Q2 25 | 1.00× | 0.72× | ||
| Q1 25 | 9.53× | 1.63× | ||
| Q4 24 | 1.49× | 2.69× | ||
| Q3 24 | 3.14× | 3.72× | ||
| Q2 24 | 2.14× | 11.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
ENPH
Segment breakdown not available.
