Press release
Enphase Energy Reports Financial Results for the Fourth Quarter of 2022
FREMONT, Calif., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of
About this update from Enphase Energy, Inc.
[{"type":"text","content":"FREMONT, Calif., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the fourth quarter of 2022, which included the summary below from its President and CEO, Badri Kothandaraman. We reported record quarterly revenue of $724.7 million in the fourth quarter of 2022, along with 43.8% for non-GAAP gross margin. We shipped 4,873,702 microinverters, or approximately 1,952.4 megawatts DC, and 122.1 megawatt hours of Enphase® IQ™ Batteries. Financial highlights for the fourth quarter of 2022 are listed below: Record quarterly revenue of $724.7 millionGAAP gross margin of 42.9%; non-GAAP gross margin of 43.8%GAAP operating income of $157.0 million; non-GAAP operating income of $229.4 millionGAAP net income of $153.8 million; non-GAAP net income of $212.4 millionGAAP diluted earnings per share of $1.06; non-GAAP diluted earnings per share of $1.51Free cash flow of $237.3 million; ending cash, cash equivalents, and marketable securities of $1.61 billion Our revenue and earnings for the fourth quarter of 2022 are provided below, compared with the prior quarter and the year ago quarter: (In thousands, except per share and percentage data) GAAP Non-GAAP Q4 2022 Q3 2022 Q4 2021 Q4 2022 Q3 2022 Q4 2021Revenue$724,652 $634,713 $412,719 $724,652 $634,713 $412,719 Gross margin 42.9% 42.2% 39.6% 43.8% 42.9% 40.2%Operating expenses$153,741 $132,475 $105,619 $87,718 $78,587 $68,182 Operating income$156,960 $135,441 $57,695 $229,389 $193,962 $97,725 Net income$153,753 $114,812 $52,591 $212,389 $175,513 $102,779 Basic EPS$1.13 $0.85 $0.39 $1.56 $1.29 $0.76 Diluted EPS$1.06 $0.80 $0.37 $1.51 $1.25 $0.73 Our revenue and earnings for the fiscal year 2022 are provided below, compared with the prior year: (In thousands, except per share and percentage data) GAAP Non-GAAP FY 2022 FY 2021 FY 2022 FY 2021Revenue$2,330,853 $1,382,049 $2,330,853 $1,382,049 Gross margin 41.8% 40.1% 42.6% 40.7%Operating expenses$526,334 $338,590 $303,724 $220,918 Operating income$448,261 $215,832 $690,292 $341,054 Net income$397,362 $145,449 $647,424 $340,314 Basic EPS$2.94 $1.09 $4.78 $2.54 Diluted EPS$2.77 $1.02 $4.62 $2.41 Total revenue for the fourth quarter of 2022 increased 14%, compared to the third qu...