earnings
confidence high
sentiment negative
materiality 0.80
Enphase Q1 revenue $356M, down 7% QoQ; guides Q2 rev $340-380M with tariff impact
Enphase Energy, Inc.
2025-Q1 EPS reported
$0.22
revenue$356,084,000
- Q1 revenue $356.1M (vs Q4 $382.7M); GAAP EPS $0.22, non-GAAP EPS $0.68.
- Non-GAAP gross margin 48.9% (ex IRA 38.3%); U.S. rev down 13% QoQ, Europe up 7%.
- Shipped 1.53M microinverters, 170.1 MWh batteries; cash $1.53B; $100M stock buyback.
- Q2 guidance: rev $340-380M, non-GAAP gross margin 44-47% (incl IRA) with ~2 ppt tariff hit.
- Paid off $102.2M convertible notes due March 2025; IRA benefit of $30-33M expected in Q2.