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Enphase Energy ENPH Total Operating Expenses

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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:OperatingExpenses.

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
Sales and marketing45,54550,70893,63299,656
General and administrative31,33434,03564,58968,070
Restructuring and asset impairment charges9583,3224,7856,484
Total operating expenses123,495133,486253,531269,805
Income from operations51,51937,00721,87668,929
Other income, net
Interest income12,15414,91124,77931,943
Interest expense(327)(815)(960)(2,862)

Item 1. Financial Statements (unaudited)

FAQ

What is Enphase Energy's total operating expenses?
Enphase Energy (ENPH) reported total operating expenses of $123.5M in Q2 2026.
How has Enphase Energy's total operating expenses changed year-over-year?
Enphase Energy's total operating expenses decreased by 7.5% year-over-year, from $133.49M to $123.5M.
What is the long-term trend for Enphase Energy's total operating expenses?
Over 4 years (2021 to 2025), Enphase Energy's total operating expenses has grown at a 11.8% compound annual growth rate (CAGR), from $338.59M to $529.48M.
What does total operating expenses mean?
The sum of all operating costs including COGS, SG&A, R&D, D&A, and other operating charges. Revenue minus total operating expenses equals operating income.

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