Enphase Energy

Information Technology Semiconductor Materials & Equipment Fremont, California Last filing Feb 10, 2025 · FY2024

                    Revenue
                    FY2024
                
$1.3B
                    
                    -41.9%
                    
                    Net income
                    FY2024
                
$102.7M
                    
                    -76.6%
                    
                    Total assets
                    FY2024
                
$3.2B
                    
                    -3.9%
                    
                    Operating cash flow
                    FY2024
                
$102.7M
                    
                    -76.6%

Balance Sheet

Assets, liabilities, and equity

38 accounts · 5 years

Total assets $3.2B

Total liabilities $2.4B

Shareholders equity $833.0M

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Assets
Cash and Cash Equivalents	$369.1M	$288.7M	$473.2M	$119.3M	$679.4M
Short Term Investments	$1.3B	$1.4B	$1.1B	$897.3M	$0
Accounts Receivable	$223.7M	$446.0M	$440.9M	$333.6M	$182.2M
Inventory	$165.0M	$213.6M	$149.7M	$74.4M	$41.8M
Prepaid Expenses	$220.7M	$88.9M	$60.8M	$37.8M	$29.8M
Contract Assets	$153.0M	$164.4M	$133.1M	$93.1M	$69.9M
Total Current Assets	$2.3B	$2.4B	$2.3B	$1.5B	$933.1M
Property,Plant and Equipment	$147.5M	$168.2M	$111.4M	$82.2M	$43.0M
Operating Lease Assets	$24.6M	$19.9M	$21.4M	$14.4M	$17.7M
Goodwill	$211.6M	$214.6M	$213.6M	$181.3M	$24.8M
Intangible Assets	$42.4M	$68.5M	$99.5M	$97.8M	$28.8M
Capitalized Software	$22.6M	$25.2M	$19.2M	$12.6M	$4.8M
Other Noncurrent Assets	$180.9M	$215.9M	$169.3M	$118.7M	$59.9M
Total Assets	$3.2B	$3.4B	$3.1B	$2.1B	$1.2B
Liabilities
Accounts Payable	$90.0M	$116.2M	$125.1M	$113.8M	$72.6M
Accrued Liabilities	$196.9M	$261.9M	$295.9M	$157.9M	$76.5M
Contract Liabilities	$237.2M	$118.3M	$90.7M	$62.7M	$47.7M
Product Warranty	$34.7M	$36.1M	$35.6M	$19.4M	$11.3M
Operating Lease Liabilities	$5.8M	$5.2M	$5.4M	$3.8M	$4.5M
Current Portion of Long Term Debt	$101.3M	$0	$90.9M	$86.1M	$326.0M
Income Taxes Payable	$3.5M	$8.5M	$16.1M	$340.0K	$384.0K
Restructuring Reserve	$3.3M	$3.1M	$714.0K	$0	—
Total Current Liabilities	$660.1M	$532.4M	$638.2M	$439.8M	$534.0M
Long Term Debt	$1.2B	$1.3B	$1.2B	$951.6M	$4.9M
Operating Lease Liabilities Noncurrent	$23.0M	$18.8M	$19.1M	$11.9M	$15.2M
Deferred Tax Liabilities	$33.4M	$35.8M	$36.2M	$25.9M	$19.3M
Product Warranty Noncurrent	$158.2M	$153.0M	$95.9M	$54.0M	$34.7M
Other Noncurrent Liabilities	$55.3M	$51.0M	$43.5M	$16.5M	$17.0M
Total Liabilities	$2.4B	$2.4B	$2.3B	$1.6B	$716.1M
Equity
Common Stock	$1.0K	$1.0K	$1.0K	$1.0K	$1.0K
Additional Paid In Capital	$1.1B	$939.3M	$819.1M	$837.9M	$534.7M
Retained Earnings	$-245.2M	$46.3M	$17.3M	$-405.7M	$-51.2M
Accumulated Other Comprehensive Income	$-6.4M	$-2.0M	$-10.9M	$-2.0M	$434.0K
Total Stockholders Equity	$833.0M	$983.6M	$825.6M	$430.2M	$484.0M
Total Liabilities and Stockholders Equity	$3.2B	$3.4B	$3.1B	$2.1B	$1.2B
Total Liabilitiesand Equity	$3.2B	$3.4B	$3.1B	$2.1B	$1.2B
Validation
L+E Components Sum Difference	$0	$0	$0	$0	$0

Income Statement

Revenue, expense, and profitability

21 accounts · 5 years

Revenue $1.3B

Operating income $77.3M

Net income $102.7M

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
IncomeStatement
Revenues Total Revenue	$1.3B	$2.3B	$2.3B	$1.4B	$774.4M
Expenses Cost of Revenue	$701.2M	$1.2B	$1.4B	$827.6M	$428.4M
Expenses Research and Development	$201.3M	$227.3M	$168.8M	$105.5M	$55.9M
Expenses Selling,General and Administrative	$339.1M	$373.4M	$358.9M	$249.3M	$104.4M
Expenses Depreciation and Amortization	$22.6M	$27.2M	$24.7M	$9.5M	$5.1M
Expenses Share Based Compensation	$211.4M	$212.9M	$216.8M	$114.3M	$42.5M
Expenses Restructuring Charges	$13.2M	$15.7M	$2.4M	$0	$0
Expenses Asset Impairment Charges	$28.8M	$10.6M	$1.2M	$0	$0
Other Income Expense Gross Profit	$629.1M	$1.1B	$974.6M	$554.4M	$346.0M
Other Income Expense Operating Income	$77.3M	$445.7M	$448.3M	$215.8M	$186.4M
Other Income Expense Interest Income	$77.3M	$69.7M	$13.7M	$695.0K	$2.2M
Other Income Expense Interest Expense	$8.7M	$8.8M	$9.4M	$45.2M	$21.0M
Other Income Expense Gain/loss On Investments	$2.0M	$0	$0	$6.6M	$0
Other Income Expense Other Income/expense	$-25.5M	$6.5M	$-431.0K	$6.0M	$-799.0K
Other Income Expense Income Before Tax	$120.2M	$513.1M	$452.0M	$120.9M	$119.4M
Income Tax Income Tax Expense	$17.5M	$74.2M	$54.7M	$-24.5M	$-14.6M
net Income net Income	$102.7M	$438.9M	$397.4M	$145.4M	$134.0M
net Income Comprehensive Income	$98.3M	$447.8M	$388.5M	$143.0M	$135.4M
Earnings Per Share Weighted Average Shares Basic	$135.2M	$136.4M	$135.3M	$134.0M	$125.6M
Earnings Per Share Weighted Average Shares Diluted	$140.0M	$143.3M	$144.4M	$142.9M	$141.9M

Cash Flow Statement

Operating, investing, and financing flows

25 accounts · 5 years

Operating cash flow $102.7M

Investing cash flow $33.6M

Financing cash flow $12.7M

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
CashFlow
Operating Activities net Income	$102.7M	$438.9M	$397.4M	$145.4M	$134.0M
Operating Activities Depreciation and Amortization	$22.6M	$27.2M	$24.7M	$9.5M	$5.1M
Operating Activities Share Based Compensation	$211.4M	$212.9M	$216.8M	$114.3M	$42.5M
Operating Activities Provision For Doubtful Accounts	$6.7M	$1.2M	$119.0K	$477.0K	$425.0K
Operating Activities Deferred Income Taxes	$-61.2M	$-47.2M	$-137.0K	$-31.2M	$-17.1M
Operating Activities Changes In Operating Assets and Liabilities	$-27.0M	$253.9M	$373.4M	$285.5M	$48.2M
Operating Activities net Cash From Operating Activities	$513.7M	$696.8M	$744.8M	$352.0M	$216.3M
Investing Activities Capital Expenditures	$33.6M	$110.4M	$46.4M	$52.3M	$20.6M
Investing Activities Business Acquisitions	$0	$0	$62.2M	$235.7M	$0
Investing Activities Purchases of Investments	$1.2B	$2.1B	$907.4M	$935.0M	$0
Investing Activities Proceeds From Sale of Investments	$1.3B	$1.8B	$660.1M	$35.0M	$0
Investing Activities net Cash From Investing Activities	$128.3M	$-366.4M	$-371.9M	$-1.2B	$-25.6M
Financing Activities Proceeds From Stock Issuance	$12.7M	$13.9M	$10.4M	$7.5M	$0
Financing Activities Repurchase of Common Stock	$391.4M	$410.0M	$0	$500.0M	$0
Financing Activities Tax Withholding On Stock Based Compensation	$78.8M	$120.6M	$27.5M	$29.1M	$68.3M
Financing Activities net Cash From Financing Activities	$-460.3M	$-516.8M	$-17.1M	$309.4M	$191.7M
Cash Reconciliation Effect of Exchange Rate Changes	$-6.3M	$1.9M	$-1.9M	$-2.0M	$826.0K
Cash Reconciliation net Change In Cash	$175.4M	$-184.5M	$353.9M	$-560.1M	$383.3M
Cash Reconciliation Cash At Beginning of Period	$369.1M	$288.7M	$473.2M	$119.3M	$679.4M
Cash Reconciliation Cash At End of Period	$369.1M	$288.7M	$473.2M	$119.3M	$679.4M
Supplemental Disclosures Income Taxes Paid	$32.7M	$74.7M	$33.2M	$4.8M	$3.5M
Supplemental Disclosures Interest Paid	$255.0K	$455.0K	$455.0K	$733.0K	$1.9M
Supplemental Disclosures Capital Expenditures Incurred But Not Yet Paid	$11.2M	$10.1M	$17.4M	$7.5M	$3.6M
Supplemental Disclosures Right of Use Assets Obtained	$12.7M	$5.0M	$13.3M	$708.0K	$10.6M

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