Enphase cuts 17% workforce (~500 jobs), ceases Mexico contract manufacturing; Q4 charges $14M

Enphase Energy, Inc.

Reduces global team by ~17% impacting about 500 employees and contractors.
Ceases contract manufacturing operations in Guadalajara, Mexico; maintains four locations (2 US, India, China).
Global microinverter capacity stays at ~7.25 million units/quarter, ~5M from US.
Restructuring charges estimated $17-20M, with $14M in Q4 2024; cash expenditures $11-12M.
Targets non-GAAP OpEx of $75-80M/quarter in 2025; GAAP OpEx to rise by ~$14M in Q4.

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