Every material Form 8-K Enphase Energy has filed with the SEC since April 23, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Enphase Energy entered a Tax Credit Transfer Agreement on October 28, 2026, with an unnamed corporate purchaser to sell up to $100 million of advanced manufacturing production tax credits generated in calendar 2026. The purchase price is capped at $92 million, payable in two installments during 2026 and 2027, which provides a source of cash tied to its US component production.
Credits cover up to $100 million of Section 45X production tax credits from 2026 US component production and sales.
Purchase price will not exceed $92 million, paid in two installments in 2026 and 2027.
Each payment is subject to customary conditions, including no default and accurate company representations.
The filing does not name the purchaser or state the effect on earnings.
Enphase Energy reported third-quarter 2026 revenue of $293.3 million, slightly up from $291.9 million in the second quarter but down from $410.4 million a year earlier. GAAP net income fell to $23.4 million, or $0.17 per diluted share, from $66.6 million a year earlier, and the company guided fourth-quarter revenue to $225.0 million to $255.0 million, below the third-quarter level.
Q3 2026 GAAP diluted EPS was $0.17 versus $0.50 in Q3 2025; non-GAAP diluted EPS was $0.41 versus $0.90, with an impairment in investments reducing EPS by $0.15 on a GAAP basis.
U.S. sell-through rose 5% sequentially but fell 35% year over year; Europe sell-through fell 12% sequentially.
Fourth-quarter 2026 guidance calls for GAAP gross margin of 38.0% to 41.0% and revenue of $225.0 million to $255.0 million, including about $51.2 million of safe harbor revenue.
Enphase reported second-quarter 2026 revenue of $291.9 million, up from $282.9 million in the first quarter but down from $363.2 million a year earlier. GAAP net income was $36.1 million, or $0.27 per diluted share, after a loss in the first quarter, helped by $52.0 million of U.S. customs tariff refunds, while non-GAAP diluted EPS was $0.46 versus $0.47 in the first quarter and $0.69 a year earlier. The company guided third-quarter 2026 revenue to $290.0 million to $320.0 million.
Q2 2026 revenue $291.9 million vs $282.9 million in Q1 2026 and $363.2 million in Q2 2025
GAAP diluted EPS $0.27 vs a loss of $0.06 in Q1 2026; non-GAAP diluted EPS $0.46 vs $0.47 in Q1 2026
Received about $41.0 million in CBP tariff refunds in Q2 plus $11.0 million after quarter end; $45.4 million recognized as a gross profit increase
Q3 2026 outlook: revenue $290.0 million to $320.0 million; GAAP gross margin 42.0% to 45.0%
Enphase Energy increased its board to eight directors and appointed Shanker Trivedi, former NVIDIA senior vice president, to fill the new seat, effective June 11, 2026. He also joined the Audit Committee, and his stock award is valued at a target of about $250,000. The filing describes a board addition rather than a change in company results or operations.
Shanker Trivedi appointed to Class I board seat; term expires at the 2028 Annual Meeting
Former NVIDIA Senior Vice President, Enterprise Business, from April 2016 until April 2026
Initial restricted stock unit award with targeted delivered value of about $250,000, vesting in four installments from August 15, 2026 to May 15, 2027
At its May 13, 2026 annual meeting, Enphase Energy director nominee Benjamin Kortlang was elected by plurality but did not receive a majority of votes cast, with 36,219,753 votes for and 47,578,342 withheld. The Board, without Mr. Kortlang, will decide his status, and the company must disclose the decision within 90 days; stockholders also approved adding 2,000,000 shares to the 2021 Equity Incentive Plan.
Benjamin Kortlang: 36,219,753 votes for, 47,578,342 withheld; elected by plurality only
Board decision and rationale to be disclosed in a Form 8-K within 90 days of the May 13, 2026 meeting
2021 Equity Incentive Plan amended to add 2,000,000 shares; approved with 65,817,412 votes for and 17,853,291 against
Jamie Haenggi and Richard Mora also elected; 104,505,305 of 131,783,945 record-date shares were represented
Enphase reported first-quarter 2026 revenue of $282.9 million, down from $343.3 million in the fourth quarter of 2025 and $356.1 million a year earlier, and a GAAP net loss of $7.4 million, compared with net income of $38.7 million in the prior quarter. The result included a $16.5 million discount and about $2.5 million in fees on the sale of 2025 manufacturing tax credits, and the company gave a second-quarter revenue range of $280.0 million to $310.0 million.
Q1 2026 revenue of $282.9 million, versus $343.3 million in Q4 2025 and $356.1 million in Q1 2025
GAAP net loss of $7.4 million, or $0.06 per diluted share; non-GAAP diluted EPS of $0.47, versus $0.71 in Q4 2025
Second-quarter 2026 revenue outlook of $280.0 million to $310.0 million, including about $85.0 million of safe harbor shipments
Cash, cash equivalents and marketable securities of $930.6 million at March 31, 2026, after settling $632.5 million of convertible notes on March 2, 2026
Enphase agreed on March 31, 2026 to sell $235 million of 2025 advanced manufacturing tax credits to a financial institution for $218.55 million, a discount of about $16.5 million, plus about $2.5 million in transaction fees. Because these amounts are included in GAAP results, the company expects its first-quarter 2026 GAAP gross margin to be about 6.7 percentage points lower than its prior guidance, though it plans to exclude them from non-GAAP measures.
Agreement dated March 31, 2026 covers $235 million of Section 45X production tax credits generated in calendar 2025.
Purchase price of $218.55 million, or 93% of face value, paid in a single installment on the effective date.
Discount of about $16.5 million and fees of about $2.5 million; Q1 2026 GAAP gross margin expected to fall about 6.7 percentage points versus prior guidance.
Enphase Energy reported fourth-quarter 2025 revenue of $343.3 million, down from $410.4 million in the third quarter, and GAAP diluted earnings per share of $0.29, down from $0.50. The company guided first-quarter 2026 revenue to $270.0 million to $300.0 million, below the fourth-quarter level, so shareholders face lower reported sales and earnings in the latest quarter and a lower revenue outlook for the next one.
Q4 2025 revenue was $343.3 million, versus $410.4 million in Q3 2025 and $382.7 million in Q4 2024.
GAAP diluted EPS was $0.29, versus $0.50 in Q3 2025 and $0.45 in Q4 2024; non-GAAP diluted EPS was $0.71, versus $0.90 in Q3 2025.
Non-GAAP gross margin was 46.1%, down from 49.2% in Q3 2025, including a 5.1 percentage point reciprocal tariff impact.
Q1 2026 outlook: revenue of $270.0 million to $300.0 million, including approximately $35.0 million of safe harbor shipments.
Enphase Energy reported third-quarter 2025 revenue of $410.4 million, its highest level in two years, and GAAP net income of $66.6 million, or $0.50 per diluted share. For the fourth quarter, the company expects revenue of $310.0 million to $350.0 million, excluding safe harbor shipments, which is below the third-quarter level. Shareholders get higher quarterly sales and profit, but the outlook points to lower revenue next quarter.
Q3 2025 revenue was $410.4 million, up from $363.2 million in Q2 2025 and $380.9 million in Q3 2024, including $70.9 million of safe harbor revenue.
GAAP diluted EPS was $0.50, compared with $0.28 in Q2 2025 and $0.33 in Q3 2024; non-GAAP diluted EPS was $0.90.
Q4 2025 revenue outlook is $310.0 million to $350.0 million and excludes any safe harbor shipments.
Free cash flow was $5.9 million; no shares were repurchased in Q3 2025, and $268.7 million remains authorized for buybacks.
Enphase Energy reported second-quarter 2025 revenue of $363.2 million, up from $303.5 million a year earlier and $356.1 million in the first quarter, and GAAP net income of $37.1 million, or $0.28 per diluted share. The company also gave a third-quarter 2025 revenue outlook of $330.0 million to $370.0 million, with a GAAP gross margin range of 41.0% to 44.0%, so shareholders can compare the outlook with the quarter's results.
Q2 2025 GAAP diluted EPS was $0.28 versus $0.08 in Q2 2024; non-GAAP diluted EPS was $0.69 versus $0.43.
Safe harbor revenue was $40.4 million, down from $54.3 million in the first quarter.
Free cash flow was $18.4 million, compared with $117.4 million in Q2 2024; cash and marketable securities ended at $1.53 billion.
Third-quarter 2025 outlook: revenue of $330.0 million to $370.0 million and non-GAAP operating expenses of $78.0 million to $82.0 million.
At its May 14, 2025 annual meeting, Enphase stockholders approved an amendment adding 4,000,000 shares to the 2021 Equity Incentive Plan. Director Thurman John Rodgers was re-elected by plurality but did not win a majority of votes cast, which the company attributes mainly to concerns about his service on two other public company boards plus his executive role. The Board's Nominating and Corporate Governance Committee, excluding Mr. Rodgers, will review the matter and report its decision within 90 days of the meeting.
Rodgers received 33,977,145 votes for and 53,852,943 withheld; Steven J. Gomo received 77,174,368 votes for and 10,655,720 withheld.
Stockholders approved the 2021 Plan amendment with 63,891,943 votes for and 23,842,662 against.
Advisory vote on executive compensation: 75,020,823 for and 12,688,703 against.
The Board's decision on Rodgers and its rationale will be disclosed in a Form 8-K within 90 days of May 14, 2025.
Enphase Energy reported first-quarter 2025 revenue of $356.1 million, down from $382.7 million in the fourth quarter of 2024 but up from $263.3 million a year earlier. GAAP diluted earnings per share were $0.22, compared with $0.45 in the fourth quarter, and the company gave a second-quarter revenue outlook of $340.0 million to $380.0 million.
Revenue was $356.1 million, versus $382.7 million in Q4 2024 and $263.3 million in Q1 2024.
GAAP net income was $29.7 million, or $0.22 per diluted share; non-GAAP diluted EPS was $0.68, versus $0.94 in Q4 2024.
Q2 2025 revenue outlook is $340.0 million to $380.0 million, including about $40.0 million of safe harbor revenue.
The company repurchased 1,594,105 shares for about $100.0 million and paid off $102.2 million of convertible senior notes that matured March 1, 2025.
Enphase Energy reported fourth-quarter 2024 revenue of $382.7 million, up from $302.6 million a year earlier, and GAAP diluted earnings of $0.45 per share, up from $0.15. For the first quarter of 2025, it expects revenue of $340.0 million to $380.0 million, and full-year 2024 GAAP net income fell to $102.7 million from $438.9 million, so shareholders see mixed signals of stronger quarterly profit alongside lower annual results and a revenue outlook below the fourth-quarter level.
Q4 2024 revenue of $382.7 million, compared with $380.9 million in Q3 2024 and $302.6 million in Q4 2023; European revenue fell about 25% from Q3.
Diluted EPS was $0.45 on a GAAP basis and $0.94 non-GAAP, versus $0.15 GAAP and $0.54 non-GAAP in Q4 2023.
Q1 2025 revenue outlook is $340.0 million to $380.0 million, including about $50.0 million of safe harbor revenue.
In Q4 2024 the company repurchased 2,883,438 shares for about $199.7 million.
Enphase said it will reduce headcount by about 17%, or roughly 500 employees and contractors, and move some functions to lower-cost regions as part of a restructuring plan. The company expects $17 million to $20 million in restructuring and asset impairment charges, with about $14 million in the fourth quarter of 2024, and targets non-GAAP operating expenses of $75 million to $80 million a quarter in 2025.
About 500 employees and contractors, or roughly 17% of the global workforce, will be affected; employee restructuring is expected to be substantially complete in the first half of 2025.
Charges of $17 million to $20 million are expected, including about $14 million in Q4 2024; total cash expenditures are estimated at $11 million to $12 million.
Q4 2024 financial outlook is unchanged except GAAP operating expenses, which are expected to rise by about $14 million from the charges.
Non-GAAP operating expenses are targeted at $75 million to $80 million a quarter in 2025, down from the current $80 million to $85 million range cited by the CEO.
Enphase Energy reported third-quarter 2024 revenue of $380.9 million, up from $303.5 million in the second quarter but below $551.1 million in the third quarter of 2023. GAAP net income was $45.8 million, compared with $113.95 million a year earlier, and GAAP diluted EPS was $0.33 versus $0.80. The company gave a fourth-quarter 2024 revenue outlook of $360.0 million to $400.0 million.
Q3 2024 revenue $380.9 million vs. $303.5 million in Q2 2024 and $551.1 million in Q3 2023
GAAP net income $45.8 million and GAAP diluted EPS $0.33; non-GAAP diluted EPS $0.65 vs. $1.02 in Q3 2023
Q4 2024 revenue outlook $360.0 million to $400.0 million, with 140 to 160 megawatt hours of IQ Battery shipments
Free cash flow $161.6 million; cash, cash equivalents and marketable securities $1.77 billion at September 30, 2024
Enphase Energy reported second-quarter 2024 revenue of $303.5 million, up from $263.3 million in the first quarter but down from $711.1 million in the second quarter of 2023. GAAP net income was $10.8 million, compared with a loss of $16.1 million in the first quarter and $157.2 million a year earlier, and it guided third-quarter 2024 revenue to $370.0 million to $410.0 million. Shareholders get a sequential improvement alongside a steep year-over-year decline.
Q2 2024 revenue was $303.5 million versus $263.3 million in Q1 2024 and $711.1 million in Q2 2023.
GAAP diluted EPS was $0.08 and non-GAAP diluted EPS was $0.43, compared with $0.35 non-GAAP in Q1 2024 and $1.47 non-GAAP in Q2 2023.
Third-quarter 2024 revenue is expected to be within a range of $370.0 million to $410.0 million.
The company repurchased 891,896 shares for approximately $99.9 million and ended the quarter with $1.65 billion in cash, cash equivalents, and marketable securities.
Enphase Energy said its board appointed Mary Erginsoy as Vice President and Chief Accounting Officer, effective April 24, 2024. She will serve as Principal Accounting Officer and continue to report to CFO Mandy Yang. The filing describes a routine officer appointment with no financial figures attached.
Mary Erginsoy, 41, appointed by the board on April 19, 2024
Effective date is April 24, 2024; she reports to CFO Mandy Yang
She joined Enphase in 2019 as senior director and corporate controller
Prior role included SunPower Corporation from 2007 to 2018
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