Enphase Q1 revenue $263.3M, net loss $16.1M; guides Q2 revenue $290-330M

Enphase Energy, Inc.

2024-Q1 EPS reported -$0.12 revenue$263,339,000

Revenue $263.3M, down 13% QoQ and 64% YoY; U.S. revenue fell 34% QoQ.
GAAP diluted loss per share $0.12; non-GAAP diluted EPS $0.35.
Non-GAAP gross margin 46.2% (41.0% ex IRA benefit) vs 50.3% Q4.
Q2 2024 revenue guidance $290-$330M; non-GAAP gross margin 44%-47%.
Cash and marketable securities $1.63B; generated $49.2M operating cash flow.

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 0.9

Enphase Energy, Inc. reported the first quarter ended March 31, 2024 results: revenue $263.3 million, net income GAAP net loss of $16.1 million; non-GAAP net income of $48.0 million, EPS GAAP diluted loss per share of $0.12; non-GAAP diluted earnings per share of $0.35.

Period: the first quarter ended March 31, 2024
Revenue: $263.3 million
Net income: GAAP net loss of $16.1 million; non-GAAP net income of $48.0 million
EPS: GAAP diluted loss per share of $0.12; non-GAAP diluted earnings per share of $0.35
Result: reported results

Exact text from the filing

today financial results for the first quarter of 2024, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $263.3 million in the first quarter of 2024, along with 46.2% for non-GAAP gross margin. We shipped 1,382,195 microinverters, or approximately 603.6 megawatts DC, and 75.5 megawatt hours of IQ

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Source: SEC EDGAR

accession 0001463101-24-000070

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