Enphase Energy (ENPH) Tops Q2 EPS by 1c; Offers 3Q Revenue Outlook

Enphase Energy (NASDAQ: ENPH) reported Q2 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $75.9 million versus the consensus estimate of $76.67 million.

• Revenue of $75.9 million, including a $2.0 million milestone payment from a partner on IQ 8
• IQ 7 shipments at 22% of all microinverters
• GAAP gross margin of 29.9%; non-GAAP gross margin of 30.5%
• GAAP operating loss of $0.6 million; non-GAAP operating income of $4.1 million
• GAAP EPS of $(0.04); non-GAAP EPS of $0.02
• Ending cash balance of $58.5 million

THIRD QUARTER 2018 FINANCIAL OUTLOOK

For the third quarter of 2018, Enphase estimates both GAAP and non-GAAP financial results as follows:

• Revenue to be within a range of $76 million to $82 million
• GAAP and non-GAAP gross margin to be within a range of 30% to 33%
• Non-GAAP operating expense to be within a range of $18.0 million to $19.0 million
• GAAP operating expense to be within a range of $22.0 million to $23.0 million, including an estimated $4.0 million of stock-based compensation expense.

GUIDANCE:

Enphase Energy sees Q3 2018 revenue of $76-82 million.

For earnings history and earnings-related data on Enphase Energy (ENPH) click here.

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