Enphase Energy Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,400	1,473	1,330	2,291	2,331	1,382
Revenue Growth (YoY)	-1.64%	10.72%	-41.93%	-1.72%	68.65%	78.46%
Cost of Revenue	780.65	785.98	701.25	1,232	1,356	827.63
Gross Profit	619.16	687	629.14	1,058	974.6	554.42
Selling, General & Admin	331.63	333.27	337.38	369.63	355.1	233.06
Research & Development	183.77	189.08	201.32	227.34	168.85	105.53
Other Operating Expenses	7.8	7.13	13.15	15.68	2.38	-
Total Operating Expenses	523.2	529.48	551.85	612.65	526.33	338.59
Operating Income	95.96	157.53	77.29	445.74	448.26	215.83
Interest Income	58.32	62.72	77.31	69.73	13.66	0.7
Interest Expense	-3.11	-4.52	-8.91	-8.84	-9.44	-45.15
Other Non-Operating Income (Expense)	-7.11	-10.91	-25.53	6.51	-0.43	-50.45
Total Non-Operating Income (Expense)	48.1	47.29	42.87	67.4	3.79	-94.9
Pretax Income	144.06	204.81	120.16	513.14	452.05	120.93
Provision for Income Taxes	9.06	32.68	17.5	74.2	54.69	-24.52
Net Income	135	172.13	102.66	438.94	397.36	145.45
Net Income to Common	135	172.13	102.66	438.94	397.36	145.45
Net Income Growth	-9.08%	67.68%	-76.61%	10.46%	173.20%	8.55%
Shares Outstanding (Basic)	131	131	135	136	135	134
Shares Outstanding (Diluted)	133	135	140	143	144	143
Shares Change (YoY)	-3.15%	-3.66%	-2.29%	-0.76%	1.06%	0.68%
EPS (Basic)	1.03	1.31	0.76	3.22	2.94	1.09
EPS (Diluted)	1.01	1.29	0.75	3.08	2.77	1.02
EPS Growth	-6.48%	72.00%	-75.65%	11.19%	171.57%	7.37%
Shares Outstanding	131.78	131.08	132.45	135.72	136.44	133.89
Free Cash Flow	145.07	95.9	480.09	586.38	698.37	299.77
Free Cash Flow Growth	51.27%	-80.02%	-18.13%	-16.04%	132.97%	53.12%
Free Cash Flow Per Share	1.09	0.71	3.43	4.09	4.84	2.10
Gross Margin	44.23%	46.64%	47.29%	46.20%	41.81%	40.12%
Operating Margin	6.86%	10.69%	5.81%	19.46%	19.23%	15.62%
Profit Margin	9.64%	11.69%	7.72%	19.16%	17.05%	10.52%
FCF Margin	10.36%	6.51%	36.09%	25.60%	29.96%	21.69%
EBITDA	177.51	238.17	158.68	520.45	507.04	246.68
EBITDA Margin	12.68%	16.17%	11.93%	22.72%	21.75%	17.85%
EBIT	95.96	157.53	77.29	445.74	448.26	215.83
EBIT Margin	6.86%	10.69%	5.81%	19.46%	19.23%	15.62%
Effective Tax Rate	6.29%	15.96%	14.56%	14.46%	12.10%	-20.28%

Updated Apr 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q