Enphase Energy, Inc. (ENPH) income statement
NASDAQ · Energy · Solar · 2,872 employees · CEO Badrinarayanan Kothandaraman
- Price
- $25.65 -0.81%
- Market cap
- $3.39B
- Enterprise value
- $3.59B
- Last report
- Q3 '26 filed 2026-10-27
- Next report
- 2027-02-02 EPS est. $0.31
Enphase Energy, Inc. (ENPH) reported revenue of $293M for Q3 '26 (-28.5% year on year), operating income of $6.47M (2.2% of revenue) and net income of $23.4M. Over the last four quarters revenue was $1.21B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $303M | $263M | $303M | $381M | $383M | $356M | $363M | $410M | $343M | $283M | $292M | $293M | |
| Cost of revenue | $156M | $148M | $166M | $203M | $184M | $188M | $193M | $214M | $191M | $183M | $117M | $166M | |
| Gross profit | $147M | $116M | $137M | $178M | $198M | $168M | $170M | $196M | $152M | $100M | $175M | $127M | |
| Research & development | $55.3M | $54.2M | $48.9M | $47.8M | $50.4M | $50.2M | $45.4M | $47.3M | $46.2M | $44.9M | $45.7M | $45.2M | |
| Sales & marketing | $53.4M | $53.3M | $51.8M | $49.7M | $51.8M | $48.9M | $50.7M | $48.4M | $49.4M | $48.1M | $45.5M | $45.1M | |
| General & administrative | $33.4M | $35.2M | $33.6M | $30.2M | $31.9M | $34M | $34M | $33.1M | $34.6M | $33.3M | $31.3M | $30.4M | |
| Other operating expenses | $14.8M | $1.91M | $1.17M | $677K | $9.4M | $3.16M | $3.32M | $1.29M | $0 | $3.83M | $958K | -$52K | |
| Operating expenses | $157M | $145M | $135M | $128M | $143M | $136M | $133M | $130M | $130M | $130M | $123M | $121M | |
| Operating income | -$10.2M | -$29.1M | $1.8M | $49.8M | $54.8M | $31.9M | $37M | $66.2M | $21.8M | -$29.6M | $51.5M | $6.47M | |
| Interest income | $20.5M | $19.7M | $19.2M | $20M | $18.4M | $17M | $14.9M | $15.4M | $15.4M | $12.6M | $12.2M | $16.9M | |
| Interest expense | $2.27M | $2.2M | $2.22M | $2.24M | $2.25M | $2.05M | $815K | $830K | $829K | $633K | -$1.59M | $327K | |
| Other non-operating income (gains on investments, FX ...) | -$24.7M | -$19.8M | -$1.17M | -$3.19M | -$17.1M | -$17M | -$6.01M | -$11.7M | -$17.7M | -$17.1M | $17.1M | $9.71M | |
| Total non-operating income | $22.5M | $17.6M | $9.42M | $955K | $14.9M | $15M | $5.2M | $10.9M | $16.9M | $15.8M | $10.4M | -$10M | |
| Income before tax | $12.2M | -$11.5M | $11.2M | $50.7M | $69.7M | $46.9M | $42.2M | $77M | $38.7M | -$13.9M | $61.9M | -$3.57M | |
| Income tax | -$8.69M | $4.6M | $383K | $4.98M | $7.54M | $17.2M | $5.15M | $10.4M | -$16K | -$6.45M | $25.8M | -$27M | |
| Net income | $20.9M | -$16.1M | $10.8M | $45.8M | $62.2M | $29.7M | $37.1M | $66.6M | $38.7M | -$7.41M | $36.1M | $23.4M | |
| EPS (basic) | $0.15 | -$0.12 | $0.08 | $0.34 | $0.46 | $0.23 | $0.28 | $0.51 | $0.30 | -$0.06 | $0.27 | $0.18 | |
| EPS (diluted) | $0.15 | -$0.12 | $0.08 | $0.33 | $0.46 | $0.22 | $0.28 | $0.50 | $0.29 | -$0.06 | $0.27 | $0.17 | |
| Shares (basic, weighted) | 136M | 136M | 136M | 135M | 134M | 132M | 131M | 131M | 131M | 131M | 132M | 132M | |
| Shares (diluted, weighted) | 139M | 136M | 136M | 140M | 138M | 136M | 135M | 133M | 133M | 131M | 133M | 135M | |
| Depreciation & amortization | $20.8M | $20.1M | $20.5M | $20.1M | $20.7M | $19.9M | $20.1M | $20.2M | $20.4M | $20.8M | $20.2M | $20.1M | |
| EBITDA | $35.3M | $10.8M | $23.5M | $73.1M | $92.6M | $68.9M | $63.1M | $98.1M | $60M | $8.32M | $54.6M | $16.9M |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $323M | $286M | $316M | $624M | $774M | $1.38B | $2.33B | $2.29B | $1.33B | $1.47B | |
| Cost of revenue | $265M | $230M | $222M | $403M | $428M | $828M | $1.36B | $1.23B | $701M | $786M | |
| Gross profit | $58M | $56M | $94.4M | $221M | $346M | $554M | $975M | $1.06B | $629M | $687M | |
| Research & development | $50.7M | $33.2M | $32.6M | $40.4M | $55.9M | $106M | $169M | $227M | $201M | $189M | |
| Sales & marketing | $38.8M | $23.1M | $27M | $36.7M | $52.9M | $129M | $215M | $232M | $207M | $198M | |
| General & administrative | $27.4M | $22.2M | $29.1M | $38.8M | $50.7M | $104M | $140M | $138M | $131M | $136M | |
| Other operating expenses | $3.78M | $16.9M | $4.13M | $2.6M | $0 | $0 | $2.38M | $15.7M | $13.2M | $0 | |
| Operating expenses | $121M | $95.4M | $92.8M | $119M | $160M | $339M | $526M | $613M | $552M | $522M | |
| Operating income | -$62.7M | -$39.4M | $1.6M | $103M | $186M | $216M | $448M | $446M | $77.3M | $165M | |
| Interest income | $0 | $0 | $0 | $2.51M | $2.16M | $695K | $13.7M | $69.7M | $77.3M | $62.7M | |
| Interest expense | $2.77M | $7.94M | $9.64M | $9.69M | $21M | $45.2M | $9.44M | $8.84M | $8.91M | $4.52M | |
| Other non-operating income (gains on investments, FX ...) | $514K | -$2.25M | $1.13M | $2.92M | $46M | $49.8M | -$13.2M | -$76.2M | -$51.8M | -$44.7M | |
| Total non-operating income | -$3.29M | -$5.96M | -$11.8M | -$12.6M | -$67M | -$94.9M | $3.79M | $67.4M | $42.9M | $40.2M | |
| Income before tax | -$66M | -$45.3M | -$10.2M | $90.1M | $119M | $121M | $452M | $513M | $120M | $205M | |
| Income tax | $1.48M | -$149K | $1.4M | -$71M | -$14.6M | -$24.5M | $54.7M | $74.2M | $17.5M | $32.7M | |
| Net income | -$67.5M | -$45.2M | -$11.6M | $161M | $134M | $145M | $397M | $439M | $103M | $172M | |
| EPS (basic) | -$1.34 | -$0.54 | -$0.12 | $1.38 | $1.07 | $1.09 | $2.94 | $3.22 | $0.76 | $1.31 | |
| EPS (diluted) | -$1.34 | -$0.54 | -$0.12 | $1.23 | $0.95 | $1.02 | $2.77 | $3.08 | $0.75 | $1.29 | |
| Shares (basic, weighted) | 50.5M | 82.9M | 96.9M | 117M | 126M | 134M | 135M | 136M | 135M | 131M | |
| Shares (diluted, weighted) | 50.5M | 82.9M | 99.6M | 132M | 142M | 143M | 144M | 143M | 140M | 135M | |
| Depreciation & amortization | $10.6M | $9M | $9.67M | $14.1M | $18.1M | $30.8M | $58.8M | $74.7M | $81.4M | $20.8M | |
| EBITDA | -$52.6M | -$28.1M | $10.1M | $114M | $159M | $197M | $520M | $597M | $210M | $230M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-02