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Side-by-side financial comparison of Claritev Corp (CTEV) and Enphase Energy (ENPH). Click either name above to swap in a different company.
Enphase Energy is the larger business by last-quarter revenue ($282.9M vs $246.6M, roughly 1.1× Claritev Corp). Enphase Energy runs the higher net margin — -2.6% vs -32.7%, a 30.1% gap on every dollar of revenue. On growth, Claritev Corp posted the faster year-over-year revenue change (6.2% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $36.4M). Over the past eight quarters, Claritev Corp's revenue compounded faster (2.5% CAGR vs -3.4%).
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.
CTEV vs ENPH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $282.9M |
| Net Profit | $-80.6M | $-7.4M |
| Gross Margin | — | 35.5% |
| Operating Margin | -3.1% | 54.0% |
| Net Margin | -32.7% | -2.6% |
| Revenue YoY | 6.2% | -20.6% |
| Net Profit YoY | 41.6% | -124.9% |
| EPS (diluted) | $-4.88 | $-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 | $246.6M | $343.3M | ||
| Q3 25 | $246.0M | $410.4M | ||
| Q2 25 | $241.6M | $363.2M | ||
| Q1 25 | $231.3M | $356.1M | ||
| Q4 24 | $232.1M | $382.7M | ||
| Q3 24 | $230.5M | $380.9M | ||
| Q2 24 | $233.5M | $303.5M |
| Q1 26 | — | $-7.4M | ||
| Q4 25 | $-80.6M | $38.7M | ||
| Q3 25 | $-69.8M | $66.6M | ||
| Q2 25 | $-62.6M | $37.1M | ||
| Q1 25 | $-71.3M | $29.7M | ||
| Q4 24 | $-138.0M | $62.2M | ||
| Q3 24 | $-391.4M | $45.8M | ||
| Q2 24 | $-576.7M | $10.8M |
| Q1 26 | — | 35.5% | ||
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 46.9% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 51.8% | ||
| Q3 24 | — | 46.8% | ||
| Q2 24 | — | 45.2% |
| Q1 26 | — | 54.0% | ||
| Q4 25 | -3.1% | 6.5% | ||
| Q3 25 | 4.1% | 16.1% | ||
| Q2 25 | 6.9% | 10.2% | ||
| Q1 25 | 4.2% | 9.0% | ||
| Q4 24 | -17.8% | 14.3% | ||
| Q3 24 | -146.7% | 13.1% | ||
| Q2 24 | -224.4% | 0.6% |
| Q1 26 | — | -2.6% | ||
| Q4 25 | -32.7% | 11.3% | ||
| Q3 25 | -28.4% | 16.2% | ||
| Q2 25 | -25.9% | 10.2% | ||
| Q1 25 | -30.8% | 8.3% | ||
| Q4 24 | -59.4% | 16.2% | ||
| Q3 24 | -169.8% | 12.0% | ||
| Q2 24 | -247.0% | 3.6% |
| Q1 26 | — | $-0.06 | ||
| Q4 25 | $-4.88 | $0.29 | ||
| Q3 25 | $-4.23 | $0.50 | ||
| Q2 25 | $-3.81 | $0.28 | ||
| Q1 25 | $-4.38 | $0.22 | ||
| Q4 24 | $-8.49 | $0.46 | ||
| Q3 24 | $-24.25 | $0.33 | ||
| Q2 24 | $-35.78 | $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 | $16.8M | $497.5M |
| Total DebtLower is stronger | $4.6B | — |
| Stockholders' EquityBook value | $-173.9M | $1.1B |
| Total Assets | $4.9B | $2.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $497.5M | ||
| Q4 25 | $16.8M | $1.5B | ||
| Q3 25 | $39.2M | $1.5B | ||
| Q2 25 | $56.4M | $1.5B | ||
| Q1 25 | $23.1M | $1.5B | ||
| Q4 24 | $16.8M | $1.6B | ||
| Q3 24 | $86.6M | $1.8B | ||
| Q2 24 | $48.8M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $4.6B | $1.2B | ||
| Q3 25 | $4.5B | $1.2B | ||
| Q2 25 | $4.5B | $1.2B | ||
| Q1 25 | $4.5B | $1.2B | ||
| Q4 24 | $4.5B | $1.3B | ||
| Q3 24 | $4.5B | $1.3B | ||
| Q2 24 | $4.5B | $1.3B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $-173.9M | $1.1B | ||
| Q3 25 | $-101.8M | $995.0M | ||
| Q2 25 | $-39.9M | $880.6M | ||
| Q1 25 | $14.8M | $810.7M | ||
| Q4 24 | $84.0M | $833.0M | ||
| Q3 24 | $207.6M | $931.4M | ||
| Q2 24 | $603.4M | $884.5M |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $4.9B | $3.5B | ||
| Q3 25 | $5.0B | $3.3B | ||
| Q2 25 | $5.1B | $3.2B | ||
| Q1 25 | $5.1B | $3.1B | ||
| Q4 24 | $5.2B | $3.2B | ||
| Q3 24 | $5.3B | $3.3B | ||
| Q2 24 | $5.7B | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | 304.87× | 1.48× | ||
| Q4 24 | 53.67× | 1.56× | ||
| Q3 24 | 21.73× | 1.40× | ||
| Q2 24 | 7.48× | 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 | $66.3M | $102.9M |
| Free Cash FlowOCF − Capex | $36.4M | $83.0M |
| FCF MarginFCF / Revenue | 14.8% | 29.3% |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | $145.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $102.9M | ||
| Q4 25 | $66.3M | $47.6M | ||
| Q3 25 | $19.9M | $13.9M | ||
| Q2 25 | $61.2M | $26.6M | ||
| Q1 25 | $-30.1M | $48.4M | ||
| Q4 24 | $-33.4M | $167.3M | ||
| Q3 24 | $72.8M | $170.1M | ||
| Q2 24 | $18.5M | $127.1M |
| Q1 26 | — | $83.0M | ||
| Q4 25 | $36.4M | $37.8M | ||
| Q3 25 | $-16.3M | $5.9M | ||
| Q2 25 | $36.6M | $18.4M | ||
| Q1 25 | $-68.9M | $33.8M | ||
| Q4 24 | $-63.8M | $159.2M | ||
| Q3 24 | $41.1M | $161.6M | ||
| Q2 24 | $-7.0M | $117.4M |
| Q1 26 | — | 29.3% | ||
| Q4 25 | 14.8% | 11.0% | ||
| Q3 25 | -6.6% | 1.4% | ||
| Q2 25 | 15.2% | 5.1% | ||
| Q1 25 | -29.8% | 9.5% | ||
| Q4 24 | -27.5% | 41.6% | ||
| Q3 24 | 17.8% | 42.4% | ||
| Q2 24 | -3.0% | 38.7% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 2.8% | ||
| Q3 25 | 14.7% | 2.0% | ||
| Q2 25 | 10.2% | 2.3% | ||
| Q1 25 | 16.8% | 4.1% | ||
| Q4 24 | 13.1% | 2.1% | ||
| Q3 24 | 13.8% | 2.2% | ||
| Q2 24 | 10.9% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 2.69× | ||
| Q3 24 | — | 3.72× | ||
| Q2 24 | — | 11.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
