Enphase Q1 revenue $441.3M record; Q2 guidance $490-520M; EPS beat

Enphase Energy, Inc.

Q1 record revenue $441.3M, up 7% QoQ; GAAP EPS $0.37, non-GAAP EPS $0.79.
Microinverter shipments ~2.84M units (1,029 MW DC), down 6% QoQ; IQ Battery shipments 120.4 MWh, up 20% QoQ.
Non-GAAP gross margin 41.0%, up from 40.2% QoQ, driven by lower expedite costs.
Acquired SolarLeadFactory to boost lead generation for installers; IQ8 microinverter ramp strong.
Q2 guidance: revenue $490-520M, non-GAAP gross margin 38-41%, IQ Battery shipments 130-140 MWh.

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