Enphase Energy delivered solid profitability in Q4 2025 with strong non-GAAP margins and positive free cash flow, despite a sequential decline in revenue driven by lower safe harbor and European demand.

Enphase Energy delivered a strong Q3 2025 with revenue hitting a two-year high, supported by increased safe harbor revenue, robust U.S. microinverter shipments, and record IQ Battery volumes.

Enphase Energy delivered a solid performance in Q2 2025, with revenue reaching $363.2 million, a slight increase from the previous quarter. The company achieved strong non-GAAP gross margins and operating income, alongside healthy free cash flow. Growth was observed in both the United States and Europe, supported by increased microinverter and battery shipments, including new product introductions.

Enphase delivered $356.1M in revenue and $29.7M in net income for Q1 2025. While U.S. demand softened, the company saw gains in Europe and continued to ramp its IQ Battery 5P. Free cash flow remained positive and the company repurchased $100M in stock.

Enphase Energy reported a revenue of $382.7 million for Q4 2024. The company shipped approximately 2.01 million microinverters and 152.4 megawatt hours of IQ Batteries. The non-GAAP diluted earnings per share was $0.94.

Enphase Energy reported Q3 2024 revenue of $380.9 million with a GAAP gross margin of 46.8% and non-GAAP gross margin of 48.1%. The company shipped 730.0 MWdc of microinverters and 172.9 MWh of IQ Batteries. They exited the quarter with $1.77 billion in cash, cash equivalents and marketable securities.

Enphase Energy announced financial results for the second quarter of 2024, reporting a revenue of $303.5 million and a non-GAAP gross margin of 47.1%. The company shipped 1,402,602 microinverters and 120.2 megawatt hours of IQ Batteries.

Enphase Energy announced financial results for the first quarter of 2024, reporting a revenue of $263.3 million. The company shipped 1,382,195 microinverters and 75.5 megawatt hours of IQ Batteries. The revenue decline compared to the previous quarter was attributed to seasonality and softening U.S. demand.

Enphase Energy reported Q4 2023 revenue of $302.6 million, a decrease from the previous quarter. The company's non-GAAP gross margin was 50.3%, and it shipped 660.1 MWdc of microinverters and 80.7 MWh of IQ Batteries. Enphase is streamlining manufacturing by ceasing operations at its Romania and Wisconsin locations.

Enphase Energy reported Q3 2023 revenue of $551.1 million. The company shipped 3,905,239 microinverters (1,585.6 MW DC) and 86.2 MWh of IQ Batteries. Non-GAAP gross margin was 48.4%, and the company exited the quarter with $1.78 billion in cash, cash equivalents, and marketable securities.

Enphase Energy announced financial results for the second quarter of 2023, reporting revenue of $711.1 million, a GAAP gross margin of 45.5%, and non-GAAP gross margin of 46.2%. The company shipped 2,121.3 MWdc of microinverters and 82.3 MWh of IQ Batteries. Enphase exited the quarter with $1.8 billion in cash, cash equivalents, and marketable securities.

Enphase Energy reported a revenue of $726.0 million for Q1 2023. The company's non-GAAP gross margin was 45.7%. Enphase shipped 4,830,589 microinverters and 102.4 megawatt hours of Enphase IQ Batteries.

Enphase Energy reported record quarterly revenue of $724.7 million in Q4 2022. The company shipped 4,873,702 microinverters and 122.1 megawatt hours of Enphase IQ Batteries. Enphase is adding additional manufacturing capacity in the United States due to strong global demand.

Enphase Energy reported record quarterly revenue of $634.7 million in Q3 2022, with a non-GAAP gross margin of 42.9%. The company shipped 4,342,805 microinverters (approximately 1,709 MW DC) and 133.6 MWh of Enphase IQ Batteries.

Enphase Energy reported record quarterly revenue of $530.2 million in the second quarter of 2022. The company shipped 3,348,553 microinverters, totaling approximately 1,213 megawatts DC, and 132.4 megawatt hours of Enphase IQ Batteries.

Enphase Energy announced record quarterly revenue of $441.3 million for Q1 2022, with a non-GAAP gross margin of 41.0%. The company shipped approximately 2,838,693 microinverters (1,029 MW DC) and 120.4 MWh of Enphase IQ™ Batteries.

Enphase Energy reported record revenue of $412.7 million for Q4 2021, with a GAAP gross margin of 39.6% and non-GAAP gross margin of 40.2%. The company shipped approximately 3,033,891 microinverters (1,082 MW DC) and 100.2 MWh of Enphase IQ Batteries. They exited the quarter with $1.0 billion in cash, cash equivalents and marketable securities.

Enphase Energy reported record quarterly revenue of $351.5 million in Q3 2021, with a non-GAAP gross margin of 40.8%. The company shipped approximately 2,599,575 microinverters (913 MW DC) and 65 MWh of Enphase Storage systems.

Enphase Energy reported a revenue of $316.1 million for Q2 2021. The company shipped approximately 2,362,401 microinverters, totaling 796 MW DC, and 43 MWh of Enphase Storage systems. The company's GAAP diluted earnings per share was $0.28, while the non-GAAP diluted earnings per share was $0.53.

Enphase Energy reported Q1 2021 revenue of $301.8 million with a non-GAAP gross margin of 41.1%. The company shipped approximately 830 MW DC, equivalent to 2,452,765 microinverters. Enphase also acquired Sofdesk, Inc. and the Solar Design Services business of DIN Engineering Services, LLP to accelerate digital transformation.

Enphase Energy announced financial results for the fourth quarter of 2020, reporting revenue of $264.8 million and non-GAAP gross margin of 40.2%. The company shipped approximately 762 megawatts DC, equivalent to 2,292,132 microinverters. They exited the quarter with $679.4 million in cash and generated $84.2 million in cash flow from operations.

Enphase Energy reported revenue of $178.5 million in Q3 2020, with a GAAP gross margin of 53.2% and a non-GAAP gross margin of 41.0%. The company shipped approximately 478 megawatts DC, equivalent to 1,442,743 microinverters. GAAP net income was $39.4 million, and non-GAAP net income was $41.8 million.

Enphase Energy reported a revenue of $125.5 million for the second quarter of 2020. The company's GAAP net loss was $47.3 million, but non-GAAP net income was $23.5 million. They also shipped Encharge energy storage systems in June for pilot runs to installers.

Enphase Energy reported a strong first quarter in 2020 with revenue of $205.5 million, a 105% increase year-over-year, and record gross margins. The company shipped approximately 643 MW DC, equivalent to 2,012,476 microinverters. Despite challenges from COVID-19, Enphase maintained product availability and on-time customer deliveries.

Enphase Energy reported record revenue of $210.0 million for Q4 2019, a 17% increase sequentially and 128% year-over-year. The company achieved GAAP net income of $116.7 million, including an income tax benefit of $72.2 million, and non-GAAP net income of $52.0 million.