Enphase Energy — Third Quarter 2026 Earnings Summary

Enphase Energy reported third-quarter 2026 revenue of $293.3 million, shipping approximately 1.42 million IQ Microinverters and 129.9 MWh of IQ Batteries. The company achieved a non-GAAP gross margin of 45.0% and non-GAAP net income of $54.0 million, though GAAP results were reduced by investment impairments. Key operational highlights include the successful demonstration of 13.8 kV AC to 800 VDC conversion using IQ Solid-State Transformer technology for AI data centers and the expansion of its customer pipeline for this new product line. Looking ahead to the fourth quarter, Enphase forecasts revenue between $225.0 million and $255.0 million, with sell-through expected to decline by 10% compared to the previous quarter.