Enphase Energy, Inc. (ENPH) — Financial statements
Income statement, balance sheet, and cash flow for Enphase Energy, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,473↑10.7% | 1,330↓41.9% | 2,291↓1.7% | 2,331↑68.7% | 1,382 | |
| Cost of Revenue | 786↑12.1% | 701↓43.1% | 1,232↓9.1% | 1,356↑63.9% | 828 | |
| Gross Profit | 687↑9.2% | 629↓40.6% | 1,058↑8.6% | 975↑75.8% | 554 | |
| Operating Expenses | ||||||
| R&D Expenses | 189↓6.1% | 201↓11.4% | 227↑34.6% | 169↑60.0% | 106 | |
| General & Administrative Expenses | 136↑3.8% | 131↓5.1% | 138↓1.5% | 140↑34.5% | 104 | |
| Selling & Marketing Expenses | 198↓4.4% | 207↓10.9% | 232↑7.8% | 215↑66.8% | 129 | |
| SG&A Expenses | 333↓1.2% | 337↓8.7% | 370↑4.1% | 355↑52.4% | 233 | |
| Other Expenses | 0.00↓100.0% | 13↓16.1% | 16↑557.9% | 2 | 0.00 | |
| Operating Expenses | 522↓5.3% | 552↓9.9% | 613↑16.4% | 526↑55.4% | 339 | |
| Total Costs & Expenses | 1,308↑4.4% | 1,253↓32.1% | 1,845↓2.0% | 1,883↑61.4% | 1,166 | |
| Operating Results | ||||||
| Operating Income | 165↑113.0% | 77↓82.7% | 446↓0.6% | 448↑107.7% | 216 | |
| Depreciation & Amortization | 81↓0.9% | 81↑8.9% | 75↑27.1% | 59↑90.5% | 31 | |
| EBITDA | 290↑37.8% | 210↓64.7% | 597↑14.7% | 520↑164.2% | 197 | |
| EBIT | 209↑62.2% | 129↓75.3% | 522↑13.1% | 461↑177.9% | 166 | |
| Interest & Other Income | ||||||
| Net Interest Income | 58↓14.9% | 68↑12.3% | 61↑1343.6% | 4↑109.5% | -44 | |
| Interest Income | 63↓18.9% | 77↑10.9% | 70↑410.6% | 14↑1864.9% | 0.70 | |
| Interest Expense | 5↓49.2% | 9↑0.7% | 9↓6.3% | 9↓79.1% | 45 | |
| Non-Operating Income | -45↑13.7% | -52↑32.1% | -76↓476.5% | -13↓126.6% | 50 | |
| Other Income / Expenses | 40↓6.3% | 43↓36.4% | 67↑1679.7% | 4↑104.0% | -95 | |
| Income Before Tax | 205↑70.5% | 120↓76.6% | 513↑13.5% | 452↑273.8% | 121 | |
| Income Tax Expense | 33↑86.7% | 18↓76.4% | 74↑35.7% | 55↑323.0% | -25 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 172↑67.7% | 103↓76.6% | 439↑10.5% | 397↑173.2% | 145 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 172↑67.7% | 103↓76.6% | 439↑10.5% | 397↑173.2% | 145 | |
| Bottom-Line Net Income | 172↑63.7% | 105↓76.2% | 442↑10.4% | 400↑174.7% | 146 | |
| EPS (Basic) | 1.31↑72.4% | 0.76↓76.4% | 3.22↑9.5% | 2.94↑169.7% | 1.09 | |
| EPS (Diluted) | 1.29↑72.0% | 0.75↓75.6% | 3.08↑11.2% | 2.77↑171.6% | 1.02 | |
| Weighted Average Shares | 131↓3.0% | 135↓0.9% | 136↑0.8% | 135↑1.0% | 134 | |
| Weighted Average Diluted Shares | 135↓3.7% | 140↓2.3% | 143↓0.8% | 144↑1.1% | 143 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.