Enphase Q1 revenue $726M, GAAP EPS $1.02; guides Q2 rev $700-750M

Enphase Energy, Inc.

2024-Q1 EPS reported $1.02 revenue$726,016,000

Revenue $726M, up 64% YoY; GAAP diluted EPS $1.02, non-GAAP $1.37.
Non-GAAP gross margin 45.7%, up from 41.0% YoY.
Shipped 4.83M microinverters, 102.4 MWh of IQ Batteries.
Q2 guidance: revenue $700-750M, non-GAAP gross margin 42-45%.
Cash and marketable securities $1.78B; free cash flow $223.8M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enphase Energy, Inc. reported the first quarter of 2023 results: revenue $726.0 million, net income $146.9 million, EPS $1.02. Guidance initiated.

Period: the first quarter of 2023
Revenue: $726.0 million
Net income: $146.9 million
EPS: $1.02
Guidance: initiated
Result: reported results

Exact text from the filing

Financial highlights for the first quarter of 2023 are listed below: • Quarterly revenue of $726.0 million • GAAP gross margin of 45.0%; non-GAAP gross margin of 45.7% • GAAP operating income of $167.7 million; non-GAAP operating income of $233.6 million • GAAP net income of $146.9 million; non-GAAP net income of $192.3 million • GAAP diluted earnings per share of $1.02; non-GAAP diluted earnings per share of $1.37

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Source: SEC EDGAR

accession 0001463101-23-000083

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