Enphase Q4 revenue $302.6M, down 45% QoQ; guides Q1 $260-300M

Enphase Energy, Inc.

2024-FY EPS reported $3.08 revenue$2,290,786,000

Q4 revenue $302.6M, down 45% from Q3 and 58% YoY; GAAP EPS $0.15, non-GAAP EPS $0.54
Non-GAAP gross margin 50.3% (incl IRA benefit); excl benefit 41.8% vs 45.8% prior quarter
US revenue down ~35% QoQ; Europe down ~70% QoQ; demand softening and inventory reduction
Q1 2024 guidance: revenue $260M-$300M, non-GAAP gross margin 44-47% incl IRA benefit
Ceasing ops at Romania and Wisconsin contract mfg; focusing US capacity in SC and TX

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Enphase Energy, Inc. reported the fiscal year 2023 results: revenue $2,290,786, net income $438,936, EPS $3.08.

Period: the fiscal year 2023
Revenue: $2,290,786
Net income: $438,936
EPS: $3.08
Result: reported results

Exact text from the filing

fiscal year 2023 are provided below, compared with the prior year: (In thousands, except per share and percentage data) GAAP Non-GAAP FY 2023 FY 2022 FY 2023 FY 2022 Revenue $ 2,290,786 $ 2,330,853 $ 2,290,786 $ 2,330,853 Gross margin 46.2 % 41.8 % 47.1 % 42.6 % Operating expenses $ 612,647 $ 526,334 $ 382,115 $ 303,724 Operating income $ 445,741 $ 448,261 $

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Enphase Energy, Inc. reported the fourth quarter of 2023 results: revenue $302.6 million, net income $20.9 million, EPS $0.15.

Period: the fourth quarter of 2023
Revenue: $302.6 million
Net income: $20.9 million
EPS: $0.15
Result: reported results

Exact text from the filing

today financial results for the fourth quarter of 2023, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $302.6 million in the fourth quarter of 2023, along with 50.3% for non-GAAP gross margin. We shipped 1,595,677 microinverters, or approximately 660.1 megawatts DC, and 80.7 megawatt hours of IQ

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Enphase Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001463101-24-000013

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