Enphase Energy, Inc. (ENPH) Financials
Key financial figures for Enphase Energy, Inc. (Q3 2026).
Enphase reported Q3 2026 revenue of $293.3 million, down 29% year over year, and guided Q4 revenue to $225 million to $255 million as U.S. residential sell-through stays weak. Revenue was $293.3 million versus $291.9 million in Q2 and $410.4 million in Q3 2025. It landed in the lower half of the company's own $290 million to $320 million Q3 range, and included $85.0 million of safe harbor revenue (guide: about $75 million). Management said global sell-through rose about 1% sequentially against its expectation of 10%; U.S. sell-through rose 5% sequentially but fell 35% year over year. U.S. revenue was $233.5 million (down 33% year over year, the 10-Q cites the expired Section 25D credit); international was $59.8 million (down 1%). On the outlook: Q4 2026: revenue $225.0 million to $255.0 million including 100 to 120 MWh of IQ Battery shipments and about $51.2 million of safe harbor revenue, assuming sell-through down 10% from Q3; GAAP gross margin 38.0% to 41.0% and non-GAAP gross margin 40.0% to 43.0% (each including about 2.0 points of tariff impact); GAAP operating expenses $119.0 million to $123.0 million; non-GAAP operating expenses $76.0 million to $80.0 million. Figures are for Q3 2026, as Enphase Energy, Inc. reported them.
- Revenue
- $293M
- Net Income
- $23M
- EPS
- $0.18
- Total Assets
- $2.9B
- Operating Cash Flow
- $90K
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q3 FY2026 | $293M | $23M | $0.17 | 2.2% | -$11M |
| Q2 FY2026 | $292M | $36M | $0.27 | 17.65% | $26M |
| Q1 FY2026 | $283M | -$7M | -$0.06 | -10.48% | $83M |
| Q4 FY2025 | $343M | $39M | $0.29 | 6.35% | $38M |
| Q3 FY2025 | $410M | $67M | $0.50 | 16.12% | $6M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $1.5B | $172M | $1.29 | 11.18% | $96M |
| FY2024 | $1.3B | $103M | $0.75 | 5.81% | $480M |
| FY2023 | $2.3B | $439M | $3.08 | 19.46% | $586M |
Frequently asked questions
What was Enphase Energy, Inc.'s revenue last quarter?
Enphase Energy, Inc. reported revenue of $293.3 million for Q3 FY2026, down 28.5% from the same period a year earlier.
Is Enphase Energy, Inc. profitable?
Yes. Enphase Energy, Inc. reported net income of $23.4 million for Q3 FY2026, a net margin of 7.97% on revenue.
How has Enphase Energy, Inc.'s margin trended?
Operating margin was 2.2% in Q3 FY2026, compared with 16.12% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Enphase Energy, Inc. generate?
Enphase Energy, Inc. generated free cash flow of -$11.4 million in Q3 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Enphase Energy, Inc. on SentiSense, with up to forty quarters and twenty fiscal years of history.