Enphase Q3 revenue $380.9M, GAAP EPS $0.33, non-GAAP EPS $0.65; Q4 guidance revenue $360-400M

Enphase Energy, Inc.

2024-Q3 EPS reported $0.30 revenue$947,670,000

Q3 revenue $380.9M, up from $303.5M in Q2 2024 but down from $551.1M YoY.
GAAP gross margin 46.8%, non-GAAP gross margin 48.1% (incl. net IRA benefit of 9.2%).
Shipped 1.73M microinverters (730 MW DC) and 172.9 MWh of IQ Batteries.
Ended Q3 with $1.77B cash; generated $170.1M operating cash flow; repurchased $49.8M in stock.
Q4 2024 guidance: revenue $360-400M, non-GAAP gross margin 49-52% (incl. IRA benefit), IRA benefit $38-41M.

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