Enphase Energy Files Q2 2024 10-Q
Ticker: ENPH · Form: 10-Q · Filed: Jul 23, 2024 · CIK: 1463101
| Field | Detail |
|---|---|
| Company | Enphase Energy, Inc. (ENPH) |
| Form Type | 10-Q |
| Filed Date | Jul 23, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, semiconductors
TL;DR
Enphase Energy's Q2 2024 10-Q is in. Check financials.
AI Summary
Enphase Energy, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial details for the company. Key financial data and operational updates are detailed within this report.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational status of Enphase Energy, Inc., crucial for understanding the company's trajectory in the semiconductor industry.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- Enphase Energy, Inc. (company) — Filer of the 10-Q report
- 20240630 (date) — Conformed period of report
- 20240723 (date) — Date of filing
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240630, indicating the second quarter of 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240723.
What is the company's Central Index Key (CIK)?
Enphase Energy, Inc.'s Central Index Key is 0001463101.
What is the Standard Industrial Classification (SIC) code for Enphase Energy?
The SIC code is 3674, categorized under SEMICONDUCTORS & RELATED DEVICES.
What is the company's fiscal year end?
Enphase Energy's fiscal year ends on December 31.
Filing Stats: 4,556 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-07-23 16:25:59
Key Financial Figures
- $0.00001 — ange on which registered Common Stock, $0.00001 par value per share ENPH Nasdaq Global
Filing Documents
- enph-20240630.htm (10-Q) — 1805KB
- a2024q210-qexx311.htm (EX-31.1) — 9KB
- a2024q210-qexx312.htm (EX-31.2) — 9KB
- a2024q210-qexx321.htm (EX-32.1) — 6KB
- enph-20240630_g1.jpg (GRAPHIC) — 14KB
- 0001463101-24-000119.txt ( ) — 10507KB
- enph-20240630.xsd (EX-101.SCH) — 60KB
- enph-20240630_cal.xml (EX-101.CAL) — 91KB
- enph-20240630_def.xml (EX-101.DEF) — 331KB
- enph-20240630_lab.xml (EX-101.LAB) — 773KB
- enph-20240630_pre.xml (EX-101.PRE) — 607KB
- enph-20240630_htm.xml (XML) — 2027KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive (Loss) Income 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.
Controls and Procedures
Controls and Procedures 42
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 43 Item 1A.
Risk Factors
Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 46 Signature 48 Enphase Energy, Inc. | 2024 Form 10-Q | 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) ENPHASE ENERGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) As of June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 252,102 $ 288,748 Marketable securities 1,394,302 1,406,286 Accounts receivable, net of allowances of $ 3,307 and $ 2,502 at June 30, 2024 and December 31, 2023, respectively 277,475 445,959 Inventory 176,068 213,595 Prepaid expenses and other assets 141,702 88,930 Total current assets 2,241,649 2,443,518 Property and equipment, net 152,070 168,244 Operating lease, right of use asset, net 19,394 19,887 Intangible assets, net 56,715 68,536 Goodwill 213,239 214,562 Other assets 204,202 215,895 Deferred tax assets, net 279,307 252,370 Total assets $ 3,166,576 $ 3,383,012 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 79,646 $ 116,164 Accrued liabilities 197,556 261,919 Deferred revenues, current 123,577 118,300 Warranty obligations, current 30,261 36,066 Debt, current 98,592 — Total current liabilities 529,632 532,449 Long-term liabilities: Deferred revenues, non-current 353,199 369,172 Warranty obligations, non-current 146,918 153,021 Other liabilities 52,872 51,008 Debt, non-current 1,199,432 1,293,738 Total liabilities 2,282,053 2,399,388 Commitments and contingencies (Note 10) Stockholders' equity: Common stock, $ 0.00001 par value, 300,000 shares authorized; and 135,396 shares and 135,722 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 993,368 939,338 Accumulated earnings (deficit) ( 100,895 ) 46,273 Accumulated other comprehensive loss ( 7,951 ) ( 1,988 ) Total stockholders' equity 884,523 983,624 Total liabilities and stockholders' equity $ 3,166,576 $ 3,383,012 See Notes to Condensed Consolidated Financial Statements. Enphase Energy, Inc. | 2024 Form 10-Q | 3 Table of Contents ENPHASE ENER