Enphase Q2 2026 revenue $291.9M, GAAP EPS $0.27, non-GAAP EPS $0.46; guides Q3 revenue $290-320M

Enphase Energy, Inc.

Revenue $291.9M, up 3% sequentially but down 20% YoY; GAAP gross margin 60.0% (boosted by $45.4M CBP refund), non-GAAP 46.8%.
GAAP net income $36.1M ($0.27 diluted EPS) vs loss in Q1; non-GAAP net income $61.5M ($0.46 diluted EPS).
Shipped 1.59M microinverters (725.2 MW DC) and 113.8 MWh of IQ Batteries; Q3 battery guidance 130-150 MWh.
Q3 revenue guidance $290-320M; non-GAAP gross margin 44-47% with ~2 ppt tariff impact; cash $937.7M.
Progress on IQ Solid-State Transformer for AI data centers; launched IQ9N residential and IQ9S-3P commercial microinverters.

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