Enphase Energy, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.3B | $2.3B | $2.3B | $1.4B |
| Gross profit | $687.0M | $629.1M | $1.1B | $974.6M | $554.4M |
| Operating income | $157.5M | $77.3M | $445.7M | $448.3M | $215.8M |
| Operating expenses | $529.5M | $551.8M | $612.6M | $526.3M | $338.6M |
| Cost of revenue | $786.0M | $701.2M | $1.2B | $1.4B | $827.6M |
| Cash from operations | $136.5M | $513.7M | $696.8M | $744.8M | $352.0M |
| Capital expenditure | $40.6M | $33.6M | $110.4M | $46.4M | $52.3M |
| Free cash flow | $95.9M | $480.1M | $586.4M | $698.4M | $299.8M |
| Share repurchases | $130.0M | $391.4M | $410.0M | $0 | $500.0M |
| Impairments | $3.1M | $28.8M | $10.6M | $1.2M | $0 |
| Total assets | $3.5B | $3.2B | $3.4B | $3.1B | $2.1B |
| Total liabilities | $2.4B | $2.4B | $2.4B | $2.3B | $1.6B |
Shares outstanding 131.8M · Free float 73.0%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.