Enphase Energy, Inc. · NASDAQ:ENPH
Enphase Energy — Q2 2026 Earnings Presentation
12 slides from Enphase Energy's earnings presentation, Jul 28, 2026
Slide 1: Enphase Energy Reports Financial Results for the Second Quarter of 2026
Enphase Energy Reports Financial Results for the Second Quarter of 2026 FREMONT, Calif., July 28, 2026 - Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, announced today financial results for the second quarter of 2026, which included the summary below from its President and
Slide 2: Cash position, tariff refunds and product updates
We exited the second quarter of 2026 with $937.7 million in cash, cash equivalents and marketable securities, and generated $40.3 million in cash flow from operations. Capital expenditures were $14.4 million, compared to $19.9 million in the first quarter. During the second quarter, we received appr
Slide 3: Recent announcements and third quarter 2026 financial outlook
• On July 8, 2026, Enphase Energy announced it opened pre-orders for a smart thermostat with live solar, battery, and home power display. • On June 30, 2026, Enphase Energy announced that it has joined the Open Compute Project Foundation as a Platinum member to help advance open standards for next-g
Slide 4: Follow Enphase Online; Use of non-GAAP Financial Measures
Follow Enphase Online • Read the Enphase blog. • Follow @Enphase on X. • Visit us on Facebook and LinkedIn. • Watch Enphase videos on YouTube. Use of non-GAAP Financial Measures Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial me
Slide 5: AMPTC adjustment and non-GAAP exclusions
AMPTC adjustment. In the first quarter of 2026, the Company decided to sell its Advanced Manufacturing Production Tax Credit (AMPTC) generated in 2025 and going forward in the tax credit transfer market. The Company sold $235.0 million of AMPTC generated in 2025 at 93% of face value, resulting in a
Slide 6: Forward-Looking Statements
Forward-Looking Statements This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its third quarter of 2026 financial performance and outlook, including revenue, shipments of IQ Batteries by MWh, gross margin, and operating expense
Slide 7: Condensed Consolidated Statements of Operations
ENPHASE ENERGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Net revenues $ 291,854 $ 282,900 $ 363,153 $ 574,754 $ 719,237 Cost of rev
Slide 8: Condensed Consolidated Balance Sheets
ENPHASE ENERGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) June 30, December 31, 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 529,344 $ 474,318 Marketable securities 408,364 1,038,536 Accounts receivable, net 273,607 229,881 Inventory 285,022 288,047 Prepai
Slide 9: Condensed Consolidated Statements of Cash Flows
ENPHASE ENERGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Cash flows from operating activities: Net income (loss) $ 36,079 $ (7,406) $ 37,052 $ 28,673 $ 66
Slide 10: Cash flow statement (continued)
Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Effect of exchange rate changes on cash, cash equivalents and restricted cash (620) (4,840) 7,557 (5,460) 11,232 Net increase (decrease) in cash, cash equivalents and restricted cash 31,798 23,
Slide 11: Reconciliation of Non-GAAP Financial Measures
ENPHASE ENERGY, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (In thousands, except per share data and percentages) (Unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Gross profit (GAAP) $ 175,014 $ 100,393 $ 170,493 $ 275,407
Slide 12: Non-GAAP income tax adjustment and per share reconciliation
Non-GAAP income tax adjustment 21,549 (7,884) (9,618) 13,665 (14,498) Net income (Non-GAAP) $ 61,515 $ 62,256 $ 89,869 $ 123,771 $ 179,112 Net income (loss) per share, basic (GAAP) $ 0.27 $ (0.06) $ 0.28 $ 0.22 $ 0.51 Tariff refunds (0.34) — — (0.34) — AMPTC adjustment — 0.14 — 0.14 — Stock-based co