Enphase Q1 2021 Earnings Report
Key Takeaways
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.
Reported quarterly revenue of $301.8 million.
Non-GAAP gross margin was 41.1%.
Shipped approximately 830 MW DC, or 2,452,765 microinverters.
Acquired Sofdesk, Inc. and the Solar Design Services business of DIN Engineering Services, LLP.
Enphase
Enphase
Forward Guidance
For the second quarter of 2021, Enphase Energy estimates revenue to be within a range of $300.0 million to $320.0 million and GAAP gross margin to be within a range of 37.0% to 40.0%; non-GAAP gross margin to be within a range of 38.0% to 41.0%, excluding stock-based compensation expenses.
Positive Outlook
- Revenue to be within a range of $300.0 million to $320.0 million
- GAAP gross margin to be within a range of 37.0% to 40.0%
- Non-GAAP gross margin to be within a range of 38.0% to 41.0%, excluding stock-based compensation expenses
- GAAP operating expenses to be within a range of $70.0 million to $73.0 million, including $17.0 million estimated for stock-based compensation expenses and acquisition related costs and amortization
- Non-GAAP operating expenses to be within a range of $53.0 million to $56.0 million, excluding $17.0 million estimated for stock-based compensation expenses and acquisition related costs and amortization.