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Enphase Energy ENPH United States — Net revenues

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Other financials

Income statement

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Revenue$291.9M-19.6%
Gross profit$175.0M+2.7%
Operating income$51.5M+39.2%
Net income$36.1M-2.6%
EPS (diluted)$0.27-3.6%

Balance sheet

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Cash & equivalents$529.3M+42.9%
Total debt$613.4M-50.3%
Total equity$1.2B+34.2%
Total assets$2.9B-8.2%

Cash flow

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Operating cash flow$40.3M+51.4%
CapEx$14.4M+74.3%
Free cash flow$25.9M+41.1%

Valuation

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Market cap$5.15B+30.7%
Enterprise value$5.23B+9.0%
P/E38.4×+15.9×
P/S3.9×+1.2×

Profitability

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Gross margin46.9%-1.3pp
Operating margin8.3%-3.4pp
Net margin10.1%-1.7pp
FCF margin11.5%-13.7pp

Returns & leverage

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Return on equity13%-6.8pp
Debt / equity0.5×-0.9×
Current ratio3.5×+1.5×

Where this comes from

Reported directly by Enphase Energy in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Enphase Energy’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 4:29 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001463101-26-000081
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Primary geographical markets:
United States$226,846$271,330$460,751$534,568
International65,00891,823114,003184,669
Total$291,854$363,153$574,754$719,237
Timing of revenue recognition:
Products delivered at a point in time$262,796$329,065$516,778$651,951
Products and services delivered over time29,05834,08857,97667,286
Total$291,854$363,153$574,754$719,237

Item 1. Financial Statements (unaudited)

FAQ

What is Enphase Energy's united states — net revenues?
Enphase Energy (ENPH) reported united states — net revenues of $226.85M in Q2 2026.
How has Enphase Energy's united states — net revenues changed year-over-year?
Enphase Energy's united states — net revenues decreased by 16.4% year-over-year, from $271.33M to $226.85M.
What is the long-term trend for Enphase Energy's united states — net revenues?
Over 4 years (2021 to 2025), Enphase Energy's united states — net revenues has grown at a 1.8% compound annual growth rate (CAGR), from $1.11B to $1.19B.
What does united states — net revenues mean?
This metric represents the total revenue generated from the sale of products and services within the United States geographic market. It serves as a primary indicator of the company's market penetration and demand for its energy technology solutions in this specific region. Tracking this figure helps investors assess regional growth trends and the impact of local regulatory or economic shifts on the company's top-line performance.

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