Enphase Energy, Inc.

For the period ended Sep 30, 2025. Filed Oct 28, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 28, 2025

ENPH$29.08+2.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Net revenues	$410,427	$380,873	$1,129,664	$947,670
Cost of revenues	214,188	202,702	594,691	516,825
Gross profit	196,239	178,171	534,973	430,845
Operating expenses:
Research and development	47,266	47,843	142,861	150,925
Sales and marketing	48,429	49,671	148,085	154,753
General and administrative	33,098	30,192	101,168	98,924
Restructuring and asset impairment charges	1,287	677	7,771	3,755
Total operating expenses	130,080	128,383	399,885	408,357
Income from operations	66,159	49,788	135,088	22,488
Other income, net
Interest income	15,429	19,977	47,372	58,889
Interest expense	(830)	(2,237)	(3,692)	(6,653)
Other expense, net	(3,739)	(16,785)	(12,651)	(24,264)
Total other income, net	10,860	955	31,029	27,972
Income before income taxes	77,019	50,743	166,117	50,460
Income tax provision	(10,381)	(4,981)	(32,697)	(9,962)
Net income	$66,638	$45,762	$133,420	$40,498
Net income per share:
Basic	$0.51	$0.34	$1.02	$0.30
Diluted	$0.50	$0.33	$1.01	$0.30
Shares used in per share calculation:
Basic	130,797	135,329	131,228	135,621
Diluted	132,995	139,914	133,439	136,236

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.