Enphase Energy, Inc. reported results for the quarter ended 2026 with net revenues of $291.85M and diluted EPS of $0.27, as revenue declined versus the prior year amid weaker demand for batteries and product price pressure.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$291.85M$363.15M(19.6%) | Net income²$36.08M$37.05M(2.6%) | Diluted EPS³$0.27$0.28(3.6%) |
¹ Reported as “Net revenues”. ² Reported as “Net income”. ³ Reported as “Diluted income per share”.
Business Highlights
- Revenue decline driven by a roughly 40% drop in battery MWh and product price declines, weighing on Q2 and year-to-date results.
- U.S. distributor and installer purchases softened following expiration of the residential ITC, and weak European demand also reduced purchases.
- Product launches and shipments continued: new GaN-based IQ9 family (including IQ9S-3P and IQ9N), expanded IQ Battery 10C/5P shipments, and PowerMatch rollout.
- Operational progress includes beginning U.S. manufacturing scale-up, development of a 1.25MW IQ SST for data centers, and execution of safe-harbor agreements totaling about $1.08B.
Original SEC Filing:
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