In This Article:
-
Revenue: $382.7 million for Q4 2024.
-
Gross Margin (Non-GAAP): 53.2% for Q4 2024.
-
Gross Margin (GAAP): 51.8% for Q4 2024.
-
Operating Expenses (Non-GAAP): $83.3 million for Q4 2024.
-
Operating Expenses (GAAP): $143.5 million for Q4 2024.
-
Net Income (Non-GAAP): $125.9 million for Q4 2024.
-
Net Income (GAAP): $62.2 million for Q4 2024.
-
Diluted Earnings Per Share (Non-GAAP): $0.94 for Q4 2024.
-
Diluted Earnings Per Share (GAAP): $0.45 for Q4 2024.
-
Free Cash Flow: $159.2 million for Q4 2024.
-
Cash and Marketable Securities: $1.72 billion at the end of Q4 2024.
-
Microinverters Shipped: Approximately 878 megawatts DC in Q4 2024.
-
IQ Batteries Shipped: 152.4 megawatt hours in Q4 2024.
-
Share Repurchase: 2,883,438 shares repurchased in Q4 2024 at an average price of $69.25 per share.
Release Date: February 04, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Enphase Energy Inc (NASDAQ:ENPH) reported strong financial performance with a quarterly revenue of $382.7 million and a gross margin of 53% on a non-GAAP basis.
-
The company shipped approximately 2 million microinverters and 152 megawatt hours of batteries, generating a free cash flow of $159 million.
-
Enphase Energy Inc (NASDAQ:ENPH) maintained a high Net Promoter Score of 78% for customer service, with reduced average call wait times.
-
The company is expanding its product offerings with new introductions such as the IQ Battery 5Ps, IQ EV chargers, and the IQ9 microinverters, which are expected to drive future growth.
-
Enphase Energy Inc (NASDAQ:ENPH) is focusing on geographic expansion, with plans to introduce its full suite of products across more European countries and other regions like India and Southeast Asia.
Negative Points
-
Enphase Energy Inc (NASDAQ:ENPH) experienced a 25% decline in revenue in Europe for Q4 compared to Q3, indicating challenges in the region.
-
Battery sales in the US were down 8% in Q4 compared to Q3 due to lesser channel restocking.
-
The company faces uncertainties around government policies and regulatory changes, which could impact future operations.
-
There is a noted difficulty for installers in the market, with cash flow issues and a shift from loan to lease models.
-
Enphase Energy Inc (NASDAQ:ENPH) is dealing with a challenging business environment in Europe, with weak demand in markets like the Netherlands and France.
Q & A Highlights
Q: Can you explain the impact of the $95 million Safe Harbor revenue on your Q1 guidance and any potential for additional Safe Harbor deals this year? A: The $95 million Safe Harbor revenue would have been recognized over eight quarters, approximately $12 million per quarter. For Q1, this adds to the baseline, making it $322 million when added to the $310 million baseline. This aligns with typical seasonality. We are in discussions with customers about potential future Safe Harbor deals, but nothing is confirmed yet.