Enphase to cut 10% of workforce, cease manufacturing at two sites, target $75-80M quarterly OpEx in 2024

Enphase Energy, Inc.

Global workforce reduction of ~10% (approx. 350 employees and contractors).
Ceasing contract manufacturing in Timisoara, Romania and Wisconsin; focus on US sites in South Carolina and Texas.
Expects global capacity of ~7.25 million microinverter units per quarter, ~5 million from US, after redeployment.
Restructuring charges $16-18M (incl. ~$7M cash); ~$15M expected in Q4 2023.
Targeting non-GAAP OpEx of $75-80M per quarter in 2024 after restructuring complete in H1 2024.

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