Enphase Energy, Inc.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 17, 2026
ENPH$27.64-5.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibits and Financial Statement Schedules
Consolidated Financial Statements
The information concerning our consolidated financial statements, and Report of Independent Registered Public Accounting Firm required by this Item is incorporated by reference herein to the section of this Annual Report on Form 10-K in Part II, Item 8, Consolidated Financial Statements and Supplementary Data.
No schedules are provided because they are not applicable, not required under the instructions, or the requested information is shown in the financial statements or related notes thereto.
Exhibits
The exhibits listed below are filed as part of this Annual Report on Form 10-K or incorporated herein by reference, in each case as indicated below.
| Incorporation by Reference | |||||
|---|---|---|---|---|---|
| Exhibit Number · Exhibit Description · Form · SEC File No. · Exhibit · Filing Date · Filed Herewith | |||||
| 3.1 | Amended and Restated Certificate of Incorporation of Enphase Energy, Inc. | 8-K | 001-35480 | 3.1 | 4/6/2012 |
| 3.2 | Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Enphase Energy, Inc. | 10-Q | 001-35480 | 3.1 | 8/9/2017 |
| 3.3 | Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Enphase Energy, Inc. | 10-Q | 001-35480 | 2.1 | 8/6/2018 |
| 3.4 | Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Enphase Energy, Inc. | 8-K | 001-35480 | 3.1 | 5/27/2020 |
| 3.5 | Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Enphase Energy, Inc. | S-8 | 333-256290 | 4.5 | 5/19/2021 |
| 3.6 | Amended and Restated Bylaws of Enphase Energy, Inc. | 8-K | 001-35480 | 3.1 | 4/8/2022 |
| 4.1 | Specimen Common Stock Certificate of Enphase Energy, Inc. | 10-K | 001-35480 | 4.1 | 2/10/2025 |
| 4.2 | Indenture, dated March 1, 2021, between Enphase Energy, Inc. and U.S. Bank National Association. | 8-K | 001-35480 | 4.1 | 3/1/2021 |
| 4.3 | Indenture, dated March 1, 2021, between Enphase Energy, Inc. and U.S. Bank National Association. | 8-K | 001-35480 | 4.2 | 3/1/2021 |
| 4.4 | Form of 0% Convertible Senior Note due 2026 (included in Exhibit 4.2). | 8-K | 001-35480 | 4.1 | 3/1/2021 |
| 4.5 | Form of 0% Convertible Senior Note due 2028 (included in Exhibit 4.3). | 8-K | 001-35480 | 4.2 | 3/1/2021 |
| 4.6 | Description of Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. | 10-K | 001-35480 | 4.11 | 2/11/2022 |
| 10.1+ | Form of Indemnification Agreement by and between Enphase Energy, Inc. and each of its directors and officers. | S-1/A | 333-174925 | 10.1 | 8/24/2011 |
| 10.2+ | Amended and Restated 2021 Equity Incentive Plan and forms of agreement thereunder. | 10-Q | 001-35480 | 10.1 | 7/22/2025 |
| 10.3+ | 2011 Equity Incentive Plan, as amended, and forms of agreement thereunder. | DEF 14A | 001-35480 | Appendix A | 3/18/2016 |
| 10.4+ | 2011 Employee Stock Purchase Plan, as amended. | DEF 14A | 001-35480 | Appendix A | 3/31/2017 |
| 10.5# | Flextronics Logistics Services Agreement by and between Enphase Energy, Inc. and Flextronics America, LLC, dated May 1, 2009. | 10-K | 001-35480 | 10.5 | 2/10/2025 |
| 10.6 | Amendment #1 to the Flextronics Logistics Services Agreement, by and between Enphase Energy, Inc. and Flextronics America, LLC, dated July 28, 2016. | 10-Q | 001-35480 | 10.4 | 11/2/2016 |
| 10.7# | Flextronics Manufacturing Services Agreement by and between Enphase Energy, Inc. and Flextronics Industrial, Ltd., dated March 1, 2009, as amended. | 10-K | 001-35480 | 10.7 | 2/10/2025 | |
| 10.8# | Amendment to Flextronics Manufacturing Services Agreement by and between Enphase Energy, Inc. and Flextronics Industrial, Ltd., dated August 22, 2018. | 10-K | 001-35480 | 10.8 | 2/13/2023 | |
| 10.9 | Amendment No. 2 to Flextronics Manufacturing Services Agreement by and between Enphase Energy, Inc. and Flextronics Industrial, Ltd., dated March 30, 2022. | 10-Q | 001-35480 | 10.3 | 4/26/2022 | |
| 10.10# | Amendment No. 3 to Flextronics Manufacturing Services Agreement by and between Enphase Energy, Inc. and Flextronics Industrial, Ltd., dated as of June 22, 2023. | 10-Q | 001-35480 | 10.1 | 7/27/2023 | |
| 10.11 | Amendment No. 4 to Flextronics Manufacturing Services Agreements by and between Enphase Energy, Inc. and Flextronics Industrial , Ltd., dated as of July 30, 2024. | 10-K | 001-35480 | 10.11 | 2/10/2025 | |
| 10.12+ | Non-employee Director Compensation Policy. | 10-K | 001-35480 | 10.11 | 2/16/2021 | |
| 10.13+ | Severance and Change in Control Benefit Plan. | 10-Q | 001-35480 | 10.5 | 5/8/2013 | |
| 10.14+ | Performance Bonus Program Summary. | 10-K | 001-35480 | 10.15 | 2/10/2025 | |
| 10.15# | Salcomp Manufacturing Services Agreement by and between Enphase Energy, Inc. and Salcomp Manufacturing India Private Ltd., dated October 1, 2019. | 10-K | 001-35480 | 10.24 | 2/16/2021 | |
| 10.16 | Bayside Parkway Lease by and between Enphase Energy, Inc. and Dollinger Bayside Associates, dated April 12, 2018. | 10-K | 001-35480 | 10.45 | 3/15/2019 | |
| 10.17 | Bayside Parkway Lease by and between Enphase Energy, Inc. and Dollinger Bayside Associates, amendment dated March 17, 2020. | 10-K | 001-35480 | 10.26 | 2/16/2021 | |
| 10.18 | Bayside Parkway Lease by and between Enphase Energy, Inc. and Dollinger Bayside Associates, amendment dated May 9, 2020. | 10-K | 001-35480 | 10.27 | 2/16/2021 | |
| 10.19 | Bayside Parkway Lease by and between Enphase Energy, Inc. and Dollinger Bayside Associates, amendment dated August 12, 2024. | 10-K | 001-35480 | 10.27 | 2/10/2025 | |
| 10.20 | Form of Convertible Note Hedge Transaction Confirmation (2021). | 8-K | 001-35480 | 10.2 | 3/1/2021 | |
| 10.21 | Form of Warrant Confirmation (2021). | 8-K | 001-35480 | 10.3 | 3/1/2021 | |
| 10.22 | Additional Call Option Transaction Confirmation (2021). | 8-K | 001-35480 | 10.1 | 3/15/2021 | |
| 10.23 | Additional Warrant Confirmations (2021). | 8-K | 001-35480 | 10.2 | 3/15/2021 | |
| 10.24+ | Offer Letter, by and between Enphase Energy, Inc. and Mandy Yang, effective February 15, 2022. | 10-Q | 001-35480 | 10.1 | 4/26/2022 | |
| 19.1 | Policy Against Trading on the Basis of Inside Information. | 10-K | 001-35480 | 19.1 | 2/10/2025 | |
| 21.1 | List of Subsidiaries of the Registrant. | X | ||||
| 23.1 | Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm. | X | ||||
| 24.1 | Power of Attorney (incorporated by reference to the signature page of this Annual Report on Form 10-K). | X | ||||
| 31.1 | Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a). | X | ||||
| 31.2 | Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a). | X | ||||
| 32.1* | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, as amended. | X | ||||
| 97.1 | Incentive Compensation Recoupment Policy. | 10-K | 001-35480 | 97.1 | 2/9/2024 | |
| 101.INS | XBRL Instance Document. | X |
| 101.SCH | XBRL Taxonomy Extension Schema Document. | X |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | X |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | X |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | X |
| 101.PRE | XBRL Taxonomy Extension Presentation Document. | X |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibits 101). | X |
- Management compensatory plan or arrangement.
Pursuant to Item 601(b)(10) of Regulation S-K, certain portions of this exhibit have been omitted by means of marking such portions with asterisks because we have determined that the information is both not material and is the type that we treat as private or confidential.
- The certifications attached as Exhibit 32.1 accompany this Annual Report on Form 10-K pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act, and shall not be deemed “filed” by Enphase Energy, Inc. for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing.
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