Enphase Energy Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	401.88	369.11	288.75	473.24	119.32	679.38
Short-Term Investments	1,076	1,253	1,406	1,140	897.34	-
Cash & Short-Term Investments	1,478	1,623	1,695	1,613	1,017	679.38
Cash Growth	-16.34%	-4.27%	5.10%	58.64%	49.64%	170.23%
Accounts Receivable	300.17	265.75	486.2	473.03	357.13	200.04
Other Receivables	-	10.1	7.6	2.2	2.1	-
Receivables	300.17	275.85	493.8	475.23	359.23	200.04
Inventory	188.65	165	213.6	149.71	74.4	41.76
Prepaid Expenses	425.04	73.73	41.09	26.49	12.18	11.88
Restricted Cash	-	95.01	-	-	-	-
Other Current Assets	-	94.9	-	-	-	-
Total Current Assets	2,392	2,327	2,444	2,264	1,462	933.06
Property, Plant & Equipment	155.35	149.53	162.93	113.55	83.99	55.87
Long-Term Investments	61.88	64.83	79.86	56.78	41.04	5
Goodwill	214.41	211.57	214.56	213.56	181.25	24.78
Other Intangible Assets	27.33	65	93.74	118.74	110.36	33.61
Long-Term Accounts Receivable	112.27	110.95	124.19	100.99	69.58	51.99
Long-Term Deferred Tax Assets	320.9	315.57	252.37	204.87	122.47	92.9
Other Long-Term Assets	36.58	5.14	11.85	11.52	8.1	2.89
Total Assets	3,320	3,250	3,383	3,084	2,079	1,200
Accounts Payable	188.57	90.03	116.16	125.09	113.77	72.61
Accrued Expenses	147.62	141.53	212.09	247.23	126.78	66.5
Current Portion of Long-Term Debt	631.68	101.29	-	90.89	86.05	325.97
Current Portion of Leases	5.81	5.82	5.22	5.37	3.83	4.54
Current Income Taxes Payable	0.25	3.54	8.53	16.15	0.34	-
Current Unearned Revenue	111.49	237.23	118.3	90.75	62.67	47.67
Other Current Liabilities	85.72	80.66	72.14	62.75	46.36	16.76
Total Current Liabilities	1,171	660.09	532.45	638.22	439.8	534.04
Long-Term Debt	571.87	1,201	1,294	1,199	951.59	4.9
Long-Term Leases	24.26	23.04	18.8	19.08	11.92	15.21
Long-Term Unearned Revenue	345.71	341.98	369.17	281.61	187.19	125.47
Other Long-Term Liabilities	212.48	190.45	185.23	120.33	58.59	36.49
Total Liabilities	2,325	2,417	2,399	2,259	1,649	716.11
Common Stock	0	0	0	0	0	0
Additional Paid-In Capital	1,234	1,085	939.34	819.12	837.92	534.74
Retained Earnings	-242.58	-245.21	46.27	17.34	-405.74	-51.19
Comprehensive Income & Other	3.32	-6.35	-1.99	-10.88	-2.02	0.43
Shareholders' Equity	995.02	833.02	983.62	825.57	430.17	483.99
Total Liabilities & Equity	3,320	3,250	3,383	3,084	2,079	1,200
Total Debt	1,234	1,331	1,318	1,315	1,053	350.62
Net Cash (Debt)	244.3	291.35	377.27	298.04	-36.75	328.76
Net Cash Growth	-43.76%	-22.78%	26.59%	-	-	146.90%
Net Cash Per Share	1.77	2.08	2.63	2.06	-0.26	2.32
Filing Date Shares Outstanding	130.86	132.47	135.76	136.5	133.94	129.02
Total Common Shares Outstanding	130.85	132.45	135.72	136.44	133.89	128.96
Working Capital	1,221	1,667	1,911	1,626	1,023	399.02
Book Value Per Share	7.60	6.29	7.25	6.05	3.21	3.75
Tangible Book Value	753.28	556.45	675.33	493.27	138.56	425.6
Tangible Book Value Per Share	5.76	4.20	4.98	3.62	1.03	3.30
Land	-	-	-	0.11	0.11	-
Buildings	-	19.05	17.06	15.88	12.55	9.02
Machinery	-	217.88	197.26	125.08	104.42	68.92
Construction In Progress	-	19.31	29.75	31.73	14.33	9.75

Source: S&P Global Market Intelligence. Standard template. Financial Sources.