Enphase Energy Reports Financial Results for the Third Quarter of 2026
Enphase reported Q3 2026 revenue of $293.3 million, down roughly 29% year-over-year and at the low end of guidance, with GAAP diluted EPS of $0.17 and non-GAAP diluted EPS of $0.41. Global sell-through grew only 1% sequentially versus an expected 10%, with U.S. sell-through down 35% YoY on soft residential solar demand and Europe down 12% on seasonality and weakness, particularly in France. Q4 guidance calls for revenue of $225-255 million with non-GAAP gross margin of 40-43%, implying further sequential contraction as higher rates and the Section 25D tax credit expiration weigh on the core U.S.
Key figures
- Eps
- 0.17
- Revenue
- 293329000
- Guidance
- Q4 2026 revenue $225.0M-$255.0M, assuming sell-through down 10% QoQ; non-GAAP gross margin 40.0%-43.0%
- Revenue Yoy
- -28.6%
- Gaap net income
- 23387000
- Gaap gross margin
- 43.3%
- Non gaap net income
- 54000000
- Safe harbor revenue
- 85000000
- Cash and investments
- 931800000
- Non gaap diluted eps
- 0.41
- Batteries shipped mwh
- 129.9
- Gaap operating income
- 6466000
- Non gaap gross margin
- 45.0%
- Microinverters shipped
- 1.42 million (655.2 MW DC)
- Non gaap operating income
- 53575000
AI analysis
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