Quarterly ResultApr 28, 2026, 04:13 PM
ENPH Q1 Revenue $282.9M; GAAP Loss $(7.4)M; New AI Data Center Product
AI Summary
Enphase Energy reported Q1 2026 revenue of $282.9 million, a decrease from the prior quarter, and a GAAP net loss of $7.4 million, while non-GAAP net income was $62.3 million. The company announced the development of IQ® SST, a solid-state transformer platform for AI data centers. US revenue declined 23% quarter-over-quarter due to tax credit expiration and seasonality, though European revenue increased 36%. The company also settled $632.5 million in convertible senior notes and sold $235.0 million in advanced manufacturing production tax credits.
Key Highlights
- Announced development of IQ® SST, a solid-state transformer platform for AI data centers.
- Q1 2026 Revenue: $282.9 million, down from $343.3 million in Q4 2025.
- Q1 2026 GAAP Net Loss: $(7.4) million, compared to $38.7 million income in Q4 2025.
- Q1 2026 Non-GAAP Net Income: $62.3 million, down from $93.4 million in Q4 2025.
- Ended Q1 2026 with $930.6 million in cash, cash equivalents, and marketable securities.
- Settled $632.5 million in outstanding 0.0% convertible senior notes due 2026.
- Sold $235.0 million of Section 45X advanced manufacturing PTCs at 93% face value.
- Forecasts Q2 2026 revenue between $280.0 million and $310.0 million.