NASDAQ$ENPH
Enphase Energy Inc. · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported revenue of $205.5 million and an all-time record for gross margin, despite COVID-19.
Enphase Energy reported a strong first quarter in 2020 with revenue of $205.5 million, a 105% increase year-over-year, and record gross margins. The company shipped approximately 643 MW DC, equivalent to 2,012,476 microinverters. Despite challenges from COVID-19, Enphase maintained product availability and on-time customer deliveries.
- Revenue was $205.5 million, including approximately $44.5 million of safe harbor revenue.
- Cash flow from operations was $39.2 million, with an ending cash balance of $593.8 million.
- GAAP gross margin was 39.2%, and non-GAAP gross margin was 39.5%.
- GAAP net income was $68.9 million, including a gain of $15.3 million from changes in fair value of derivatives and an income tax benefit of $11.9 million; non-GAAP net income was $51.9 million.
Headline financials
Revenue & EPS history
Enphase · Revenue · Quarterly
$206M
Forward guidance
For the second quarter of 2020, Enphase Energy estimates revenue to be within a range of $115 million to $130 million and GAAP and non-GAAP gross margin to be within a range of 37% to 40%.
Tailwinds
- Revenue to be within a range of $115 million to $130 million
- GAAP and non-GAAP gross margin to be within a range of 37% to 40%
Headwinds
- GAAP operating expenses to be within a range of $33 million to $35 million, including $7.5 million estimated for stock-based compensation expenses and acquisition related amortization
- Non-GAAP operating expenses to be within a range of $25.5 million to $27.5 million, excluding $7.5 million estimated for stock-based compensation expenses and acquisition related amortization
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+2.5%
Avg return
Earnings day
+5.0%
Avg return
5 days after
+14.3%
Avg return
30 days after
52%
29 / 56 earnings
Positive
+39.3%
Q4 2019
Best reaction
-33.2%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +34.8% | +15.5% | +118.7% | |
| Q1 2026 | +4.5% | -5.2% | +98.9% | |
| Q3 2025 | -15.2% | -19.6% | -21.4% | |
| Q1 2025 | -15.6% | -13.0% | -25.8% | |
| Q4 2024 | -1.5% | -4.8% | -7.0% | |
| Q3 2024 | -13.2% | -7.3% | -29.7% | |
| Q2 2024 | +11.6% | +13.9% | +10.3% | |
| Q1 2024 | -3.0% | +1.3% | +6.3% | |
| Q4 2023 | +20.2% | +25.2% | +32.6% | |
| Q3 2023 | -13.0% | -15.7% | +6.2% | |
| Q2 2023 | -11.0% | -13.3% | -28.4% | |
| Q1 2023 | -27.1% | -26.9% | -26.7% | |
| Q4 2022 | -1.8% | -4.9% | -3.2% | |
| Q3 2022 | +15.2% | +20.5% | +24.7% | |
| Q2 2022 | +16.6% | +30.0% | +37.2% | |
| Q1 2022 | +5.1% | +2.4% | +13.4% | |
| Q4 2021 | +15.0% | +3.5% | +27.0% | |
| Q3 2021 | +20.5% | +29.1% | +42.2% | |
| Q2 2021 | +2.7% | +7.3% | -2.4% | |
| Q1 2021 | -14.9% | -19.3% | -17.6% | |
| Q4 2020 | +2.1% | +4.4% | -16.4% | |
| Q3 2020 | -0.8% | -5.4% | +34.1% | |
| Q2 2020 | +22.5% | +19.0% | +10.8% | |
| Q1 2020 | +19.8% | +30.2% | +17.4% | |
| Q4 2019 | +39.3% | +43.8% | -36.1% | |
| Q3 2019 | -26.3% | -26.0% | -9.4% | |
| Q2 2019 | +32.8% | +37.4% | +46.9% | |
| Q1 2019 | +27.1% | +35.5% | +54.5% | |
| Q4 2018 | +10.0% | +12.9% | +12.7% | |
| Q3 2018 | +4.6% | +3.2% | +8.9% | |
| Q2 2018 | -1.6% | -5.6% | -17.1% | |
| Q1 2018 | +11.6% | +3.6% | +38.1% | |
| Q4 2017 | +23.9% | +28.0% | +70.5% | |
| Q3 2017 | +17.4% | +32.2% | +87.9% | |
| Q2 2017 | +6.7% | -5.7% | +49.4% | |
| Q1 2017 | -9.4% | -29.1% | -32.5% | |
| Q4 2016 | -15.3% | -22.6% | -28.9% | |
| Q3 2016 | +17.0% | +17.0% | +11.0% | |
| Q2 2016 | -1.1% | +4.4% | +0.6% | |
| Q1 2016 | -18.0% | — | — | |
| Q4 2015 | -10.4% | — | — | |
| Q3 2015 | -33.2% | — | — | |
| Q2 2015 | +27.6% | — | — | |
| Q1 2015 | -12.8% | — | — | |
| Q4 2014 | -7.2% | — | — | |
| Q3 2014 | -18.8% | — | — | |
| Q2 2014 | +13.8% | — | — | |
| Q1 2014 | +7.3% | — | — | |
| Q4 2013 | +10.5% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | -9.1% | — | — | |
| Q1 2013 | -5.2% | — | — | |
| Q4 2012 | +5.4% | — | — | |
| Q3 2012 | -12.8% | — | — | |
| Q2 2012 | -8.2% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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