Enphase Energy, Inc. (ENPH) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 282.9M | 343.32M | 410.43M | 363.15M | 356.08M | 382.71M | 380.87M | 303.46M | 263.34M | 302.57M | 551.08M | 711.12M | 726.02M | 724.65M | 634.71M | 530.2M | 441.29M | 412.72M | 351.52M | 316.06M |
| Revenue Growth % | -20.55% | -10.29% | 7.76% | 19.67% | 35.22% | 26.49% | -30.89% | -57.33% | -63.73% | -58.25% | -13.18% | 34.12% | 64.52% | 75.58% | 80.56% | 67.75% | 46.24% | 55.84% | 96.93% | 151.76% |
| Cost of Goods Sold | 182.51M | 191.29M | 214.19M | 192.66M | 187.84M | 184.42M | 202.7M | 166.29M | 147.83M | 155.91M | 289.07M | 387.78M | 399.64M | 413.95M | 366.8M | 311.19M | 264.32M | 249.41M | 211.16M | 188.26M |
| COGS % of Revenue | 64.51% | 55.72% | 52.19% | 53.05% | 52.75% | 48.19% | 53.22% | 54.8% | 56.14% | 51.53% | 52.45% | 54.53% | 55.05% | 57.12% | 57.79% | 58.69% | 59.9% | 60.43% | 60.07% | 59.56% |
| Gross Profit | 100.39M | 152.03M | 196.24M | 170.49M | 168.24M | 198.29M | 178.17M | 137.17M | 115.51M | 146.66M | 262.01M | 323.34M | 326.37M | 310.7M | 267.92M | 219M | 176.97M | 163.31M | 140.36M | 127.8M |
| Gross Margin % | 35.49% | 44.28% | 47.81% | 46.95% | 47.25% | 51.81% | 46.78% | 45.2% | 43.86% | 48.47% | 47.55% | 45.47% | 44.95% | 42.88% | 42.21% | 41.31% | 40.1% | 39.57% | 39.93% | 40.44% |
| Gross Profit Growth % | -40.33% | -23.33% | 10.14% | 24.3% | 45.65% | 35.2% | -32% | -57.58% | -64.61% | -52.8% | -2.2% | 47.64% | 84.42% | 90.25% | 90.88% | 71.36% | 43.94% | 33.93% | 47.77% | 164.12% |
| Operating Expenses | 130.04M | 130.23M | 130.08M | 133.49M | 136.32M | 143.49M | 128.38M | 135.37M | 144.61M | 156.89M | 144.02M | 153.02M | 158.71M | 153.74M | 132.47M | 124.97M | 115.15M | 105.62M | 103.01M | 68.4M |
| OpEx % of Revenue | 45.97% | 37.93% | 31.69% | 36.76% | 38.28% | 37.49% | 33.71% | 44.61% | 54.91% | 51.85% | 26.13% | 21.52% | 21.86% | 21.22% | 20.87% | 23.57% | 26.09% | 25.59% | 29.3% | 21.64% |
| Selling, General & Admin | 81.34M | 84.02M | 81.53M | 84.74M | 82.98M | 83.7M | 79.86M | 85.33M | 88.49M | 86.79M | 89.15M | 92.8M | 100.89M | 102.27M | 87.69M | 85.71M | 79.43M | 74.03M | 73.6M | 45.69M |
| SG&A % of Revenue | 28.75% | 24.47% | 19.86% | 23.34% | 23.3% | 21.87% | 20.97% | 28.12% | 33.6% | 28.68% | 16.18% | 13.05% | 13.9% | 14.11% | 13.82% | 16.17% | 18% | 17.94% | 20.94% | 14.46% |
| Research & Development | 44.87M | 46.21M | 47.27M | 45.42M | 50.17M | 50.39M | 47.84M | 48.87M | 54.21M | 55.29M | 54.87M | 60.04M | 57.13M | 49.68M | 44.19M | 39.26M | 35.72M | 31.59M | 29.41M | 22.71M |
| R&D % of Revenue | 15.86% | 13.46% | 11.52% | 12.51% | 14.09% | 13.17% | 12.56% | 16.1% | 20.59% | 18.27% | 9.96% | 8.44% | 7.87% | 6.86% | 6.96% | 7.4% | 8.09% | 7.65% | 8.37% | 7.18% |
| Other Operating Expenses | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 677K | 1000K | 1000K | 1000K | 0 | 177K | 693K | 1000K | 594K | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -29.64M | 21.8M | 66.16M | 37.01M | 31.92M | 54.8M | 49.79M | 1.8M | -29.1M | -10.23M | 117.99M | 170.32M | 167.66M | 156.96M | 135.44M | 94.04M | 61.82M | 57.7M | 37.35M | 59.4M |
| Operating Margin % | -10.48% | 6.35% | 16.12% | 10.19% | 8.96% | 14.32% | 13.07% | 0.59% | -11.05% | -3.38% | 21.41% | 23.95% | 23.09% | 21.66% | 21.34% | 17.74% | 14.01% | 13.98% | 10.63% | 18.79% |
| Operating Income Growth % | -192.86% | -60.23% | 32.88% | 1957.09% | 209.7% | 635.67% | -57.8% | -98.94% | -117.36% | -106.52% | -12.89% | 81.12% | 171.19% | 172.05% | 262.62% | 58.31% | 0.71% | -27.07% | -27.84% | 447.26% |
| EBITDA | -12.5M | 42.23M | 84.38M | 57.09M | 51.84M | 75.47M | 69.89M | 22.28M | -8.96M | 10.61M | 137.44M | 188.15M | 184.25M | 172.97M | 150.1M | 108.03M | 75.93M | 68.67M | 45.61M | 67M |
| EBITDA Margin % | -4.42% | 12.3% | 20.56% | 15.72% | 14.56% | 19.72% | 18.35% | 7.34% | -3.4% | 3.51% | 24.94% | 26.46% | 25.38% | 23.87% | 23.65% | 20.38% | 17.21% | 16.64% | 12.97% | 21.2% |
| EBITDA Growth % | -124.11% | -44.05% | 20.73% | 156.21% | 678.41% | 611.3% | -49.15% | -88.16% | -104.86% | -93.87% | -8.44% | 74.15% | 142.67% | 151.9% | 229.13% | 61.26% | 13.42% | -18.71% | -19.32% | 346.79% |
| D&A (Non-Cash Add-back) | 0 | 20.43M | 18.22M | 20.09M | 19.91M | 20.66M | 20.1M | 20.48M | 20.14M | 20.84M | 19.45M | 17.83M | 16.59M | 16.01M | 14.66M | 14M | 14.1M | 10.97M | 8.26M | 7.6M |
| EBIT | -12.5M | 39.53M | 77.85M | 43.02M | 48.94M | 71.95M | 52.98M | 2.97M | -9.3M | 14.49M | 139.54M | 186.81M | 181.13M | 170.46M | 136.51M | 94.38M | 60.14M | 63.23M | 38.34M | 58.85M |
| Net Interest Income | 11.99M | 14.52M | 14.6M | 14.1M | 14.98M | 16.16M | 17.74M | 16.98M | 17.51M | 18.23M | 17.47M | 14.31M | 10.88M | 6.44M | 1.43M | -1.37M | -2.28M | -12.28M | -12.52M | -12.41M |
| Interest Income | 12.63M | 15.35M | 15.43M | 14.91M | 17.03M | 18.42M | 19.98M | 19.2M | 19.71M | 20.49M | 19.67M | 16.53M | 13.04M | 8.72M | 3.68M | 796K | 460K | 414K | 110K | 98K |
| Interest Expense | 633K | 829K | 830K | 815K | 2.05M | 2.25M | 2.24M | 2.22M | 2.2M | 2.27M | 2.2M | 2.22M | 2.16M | 2.28M | 2.25M | 2.17M | 2.74M | 12.69M | 12.63M | 12.51M |
| Other Income/Expense | 15.78M | 16.9M | 10.86M | 5.2M | 14.97M | 14.89M | 955K | 9.42M | 17.6M | 22.46M | 19.36M | 14.27M | 11.31M | 11.22M | -1.19M | -1.83M | -4.42M | -7.15M | -11.64M | -13.05M |
| Pretax Income | -13.86M | 38.7M | 77.02M | 42.2M | 46.89M | 69.7M | 50.74M | 11.22M | -11.5M | 12.23M | 137.34M | 184.59M | 178.97M | 168.18M | 134.25M | 92.21M | 57.41M | 50.54M | 25.71M | 46.35M |
| Pretax Margin % | -4.9% | 11.27% | 18.77% | 11.62% | 13.17% | 18.21% | 13.32% | 3.7% | -4.37% | 4.04% | 24.92% | 25.96% | 24.65% | 23.21% | 21.15% | 17.39% | 13.01% | 12.25% | 7.31% | 14.66% |
| Income Tax | -6.45M | -16K | 10.38M | 5.15M | 17.16M | 7.54M | 4.98M | 383K | 4.6M | -8.69M | 23.39M | 27.4M | 32.1M | 14.43M | 19.44M | 15.23M | 5.59M | -2.05M | 3.9M | 7M |
| Effective Tax Rate % | 46.57% | -0.04% | 13.48% | 12.21% | 36.6% | 10.82% | 9.82% | 3.41% | -39.99% | -71.09% | 17.03% | 14.85% | 17.94% | 8.58% | 14.48% | 16.52% | 9.73% | -4.06% | 15.16% | 15.09% |
| Net Income | -7.41M | 38.71M | 66.64M | 37.05M | 29.73M | 62.16M | 45.76M | 10.83M | -16.1M | 20.92M | 113.95M | 157.19M | 146.87M | 153.75M | 114.81M | 76.98M | 51.82M | 52.59M | 21.81M | 39.35M |
| Net Margin % | -2.62% | 11.28% | 16.24% | 10.2% | 8.35% | 16.24% | 12.02% | 3.57% | -6.11% | 6.91% | 20.68% | 22.1% | 20.23% | 21.22% | 18.09% | 14.52% | 11.74% | 12.74% | 6.2% | 12.45% |
| Net Income Growth % | -124.91% | -37.72% | 45.62% | 242.03% | 284.69% | 197.15% | -59.84% | -93.11% | -110.96% | -86.39% | -0.75% | 104.21% | 183.42% | 192.36% | 426.44% | 95.61% | 63.48% | -27.95% | -44.59% | 183.21% |
| Net Income (Continuing) | -7.41M | 38.71M | 66.64M | 37.05M | 29.73M | 62.16M | 45.76M | 10.83M | -16.1M | 20.92M | 113.95M | 157.19M | 146.87M | 153.75M | 114.81M | 76.98M | 51.82M | 52.59M | 21.81M | 39.35M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.06 | 0.29 | 0.50 | 0.28 | 0.22 | 0.46 | 0.33 | 0.08 | -0.12 | 0.15 | 0.80 | 1.09 | 1.02 | 1.06 | 0.79 | 0.54 | 0.36 | 0.37 | 0.15 | 0.28 |
| EPS Growth % | -127.27% | -36.96% | 51.52% | 251.76% | 283.33% | 206.67% | -58.75% | -92.7% | -111.76% | -85.85% | 1.27% | 101.85% | 183.33% | 186.49% | 426.67% | 92.86% | 63.64% | -26% | -46.43% | 173.68% |
| EPS (Basic) | -0.06 | 0.30 | 0.51 | 0.28 | 0.23 | 0.46 | 0.34 | 0.08 | -0.12 | 0.15 | 0.84 | 1.15 | 1.09 | 1.13 | 0.80 | 0.54 | 0.37 | 0.39 | 0.16 | 0.29 |
| Diluted Shares Outstanding | 131.34M | 133.46M | 133M | 135.22M | 136.21M | 138.13M | 139.91M | 136.12M | 135.89M | 139.21M | 143.86M | 145.1M | 145.99M | 146.31M | 145.96M | 143.72M | 144.62M | 141.48M | 141.22M | 141.53M |
| Basic Shares Outstanding | 131.34M | 130.97M | 130.8M | 131.03M | 131.87M | 133.81M | 135.33M | 135.65M | 135.89M | 136.09M | 136.16M | 136.61M | 136.69M | 136.17M | 143.93M | 142.5M | 140.39M | 134.92M | 134.72M | 135.09M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |