Enphase Energy Files Q3 2024 10-Q

TL;DR

Enphase Energy's Q3 2024 10-Q is in, check the financials for the latest numbers.

AI Summary

Enphase Energy, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity as of September 30, 2024, and compares them to previous periods. Specific financial figures and operational details are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest official financial data for Enphase Energy, crucial for understanding the company's current health and future prospects in the renewable energy sector.

Risk Assessment

Risk Level: medium — As a publicly traded company in the volatile semiconductor and renewable energy sectors, Enphase Energy faces inherent market and operational risks detailed in its SEC filings.

Key Numbers

• 2024-09-30 — Report Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-10-22 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Specifies the end month and day of Enphase Energy's fiscal year.)

Key Players & Entities

• Enphase Energy, Inc. (company) — Filer of the 10-Q report
• 0001463101-24-000141 (other) — Accession Number for the filing
• 20240930 (date) — Conformed period of report
• 20241022 (date) — Filing date
• FREMONT (location) — City of company's business and mailing address

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value per share ENPH Nasdaq Global

Filing Documents

• enph-20240930.htm (10-Q) — 1812KB
• a2024q310-qexx311.htm (EX-31.1) — 9KB
• a2024q310-qexx312.htm (EX-31.2) — 9KB
• a2024q310-qexx321.htm (EX-32.1) — 6KB
• enph-20240930_g1.jpg (GRAPHIC) — 14KB
• 0001463101-24-000141.txt ( ) — 10650KB
• enph-20240930.xsd (EX-101.SCH) — 61KB
• enph-20240930_cal.xml (EX-101.CAL) — 91KB
• enph-20240930_def.xml (EX-101.DEF) — 346KB
• enph-20240930_lab.xml (EX-101.LAB) — 788KB
• enph-20240930_pre.xml (EX-101.PRE) — 621KB
• enph-20240930_htm.xml (XML) — 2041KB

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 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 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41

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 46 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 47 Signature 49 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 September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 256,325 $ 288,748 Marketable securities 1,510,299 1,406,286 Accounts receivable, net of allowances of $ 6,213 and $ 2,502 at September 30, 2024 and December 31, 2023, respectively 232,225 445,959 Inventory 158,837 213,595 Prepaid expenses and other assets 203,195 88,930 Total current assets 2,360,881 2,443,518 Property and equipment, net 148,444 168,244 Operating lease, right of use asset, net 28,120 19,887 Intangible assets, net 51,152 68,536 Goodwill 214,292 214,562 Other assets 185,448 215,895 Deferred tax assets, net 275,854 252,370 Total assets $ 3,264,191 $ 3,383,012 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 112,417 $ 116,164 Accrued liabilities 189,819 261,919 Deferred revenues, current 129,556 118,300 Warranty obligations, current 35,755 36,066 Debt, current 99,931 — Total current liabilities 567,478 532,449 Long-term liabilities: Deferred revenues, non-current 354,210 369,172 Warranty obligations, non-current 148,477 153,021 Other liabilities 62,392 51,008 Debt, non-current 1,200,261 1,293,738 Total liabilities 2,332,818 2,399,388 Commitments and contingencies (Note 10) Stockholders' equity: Common stock, $ 0.00001 par value, 300,000 shares authorized; and 135,084 shares and 135,722 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 1,033,036 939,338 Accumulated earnings (deficit) ( 104,927 ) 46,273 Accumulated other comprehensive income (loss) 3,263 ( 1,988 ) Total stockholders' equity 931,373 983,624 Total liabilities and stockholders' equity $ 3,264,191 $ 3,383,012 See Notes to Condensed Consolidated Financial Statements. Enphase Energy, Inc. | 2024 Form 10-Q | 3 Table of

View Full Filing

View this 10-Q filing on SEC EDGAR