---
schema_version: "secwatch.filing_event.v1"
accession: "0001463101-25-000054"
form_type: "8-K"
ticker: "ENPH"
cik: "0001463101"
company_name: "Enphase Energy, Inc."
filed_at: "2025-04-22T23:59:59+00:00"
generated_at: "2026-05-23T09:12:45.702579+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Enphase Q1 revenue $356M, down 7% QoQ; guides Q2 rev $340-380M with tariff impact

## Summary
- 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.

## SEC filing metadata
- accession: 0001463101-25-000054
- form_type: 8-K
- ticker: ENPH
- cik: 0001463101
- company_name: Enphase Energy, Inc.
- filed_at: 2025-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463101/000146310125000054/0001463101-25-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463101/000146310125000054/enph-20250422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001463101-25-000054
- JSON: https://secwatch.observer/filing/0001463101-25-000054.json
- Plain text: https://secwatch.observer/filing/0001463101-25-000054.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.