Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Enphase Energy, Inc.    ENPH

ENPHASE ENERGY, INC.

(ENPH)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Enphase Energy : Q3'20 Supplemental Data

10/27/2020 | 09:00pm EST

Supplemental Operating Performance Information

October 27, 2020

All $ figures in millions, except per share; other metrics specified below

Operating Metrics & Revenue Detail

Metric

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Guidance

Q4'20

Shipments

Units, k

1,796

2,113

2,012

1,088

1,443

GAAP

Shipments

MW (DC)

584

677

643

355

478

Revenue

$245 - $260

Total Revenue

$

180.1

$

210.0

$

205.5

$

125.5

$

178.5

Gross Margin**

37% - 40%

Safe Harbor Revenue

8.0

36.4

44.5

-

-

Operating Expenses

$51 - $54

Revenue by Geography

United States

150.7

195.3

179.6

100.8

139.9

Non-GAAP

International

29.4

14.7

25.9

24.7

38.6

Revenue

$245 - $260

Gross Margin**

38% - 41%

Supplementary Income Statement Information

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Operating Expenses

$35 - $38

Gross Profit (GAAP)

$

64.7

$

77.9

$

80.7

$

48.4

$

95.0

Stock-based Compensation

0.5

0.5

0.6

1.3

1.2

Tariff Refund

-

-

-

-

(23.0)

Gross Profit (Non-GAAP)

$

65.2

$

78.4

$

81.3

$

49.7

$

73.2

Gross Margin (GAAP)

35.9%

37.1%

39.2%

38.5%

53.2%

Stock-based Compensation

0.3%

0.2%

0.3%

1.1%

0.7%

Tariff Refund

0.0%

0.0%

0.0%

0.0%

-12.9%

Gross Margin (Non-GAAP)

36.2%

37.3%

39.5%

39.6%

41.0%

Income from Operations (GAAP)

$

33.7

$

44.4

$

44.7

$

10.9

$

51.8

Stock-based Compensation

5.4

6.2

7.5

12.3

14.4

Tariff Refund

-

-

-

-

(23.0)

Restructuring & Asset Impairment Charges

0.5

1.1

-

-

-

Acquisition Related Expenses & Amortization

0.6

0.6

0.6

0.5

0.5

Income from Operations (Non-GAAP)

$

40.2

$

52.3

$

52.8

$

23.7

$

43.7

Income from Operations (Non-GAAP) Margin

22%

25%

26%

19%

24%

Income Tax Benefit (Provision) (GAAP)

$

(0.3)

$

72.2

$

11.9

$

6.6

$

(5.5)

Non-GAAP Income Tax Adjustment

-

(74.4)

(12.5)

(7.1)

5.1

Income Tax Benefit (Provision) (Non-GAAP)

$

(0.3)

$

(2.1)

$

(0.6)

$

(0.5)

$

(0.4)

Net Income (GAAP)

$

31.1

$

116.7

$

68.9

$

(47.3)

$

39.4

Stock-based Compensation

5.4

6.2

7.5

12.3

14.4

Tariff Refund

-

-

-

-

(23.0)

Restructuring & Asset Impairment Charges

0.5

1.1

-

-

-

Acquisition Related Expenses & Amortization

0.6

0.6

0.6

0.5

0.5

Non-Recurring Debt Prepayment Fees & Non-Cash Interest

1.9

1.9

2.7

5.4

5.4

Change in Fair Value of Derivatives

-

-

(15.3)

59.7

-

Non-GAAP Income Tax Adjustment

-

(74.4)

(12.5)

(7.1)

5.1

Net Income (Non-GAAP)

$

39.5

$

52.0

$

51.9

$

23.5

$

41.8

Weighted Avg Basic Shares Outstanding (GAAP)

000s

122,123

122,630

123,531

125,603

126,109

RSU/PSU/Options

9,200

8,703

8,609

6,228

6,330

2023 Convert

900

900

900

900

900

2024 Convert + Warrants

1,388

639

5,064

6,716

8,481

Elimination of In-the-Money 2024 Convert Shares

(1,288)

(639)

(2,936)

(3,677)

(4,468)

Weighted Avg Diluted shares Outstanding (Non-GAAP)

000s

132,323

132,233

135,168

135,770

137,352

Net Income per Share, Diluted (GAAP)

$

0.23

$

0.88

$

0.50

$

(0.38)

$

0.28

Net Income per Share, Diluted (Non-GAAP)

$

0.30

$

0.39

$

0.38

$

0.17

$

0.30

Supplementary Balance Sheet Information

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Cash and Cash Equivalents*

$

203.0

$

296.1

$

593.8

$

607.3

$

661.8

Debt (GAAP)

$

104.1

$

105.5

$

395.8

$

355.5

$

360.1

Add: Debt Discount and Issuance Cost

37.6

36.0

109.7

104.4

99.1

Less: Convertible Debt Derivative

(45.1)

-

-

Debt (Non-GAAP)

$

141.7

$

141.5

$

460.4

$

459.9

$

459.2

Supplementary Cash Flow Information

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Cash flow from Operations (GAAP)

$

5.0

$

102.3

$

39.2

$

25.4

$

67.5

Less: Purchase of Property and Equipment

(4.2)

(7.4)

(3.4)

(4.4)

(3.9)

Free Cash Flow (Non-GAAP)

$

0.8

$

94.9

$

35.8

$

21.0

$

63.6

*Quarter ended Q4'19 and Q1'20 Cash and cash equivalents include restricted cash of $44.7 million

**Excludes $16m of requested tariff refund that has not yet been approved

This supplemental information contains forward-looking statements, including statements related to Enphase Energy's expectations as to projected revenue, gross margin, and operating expenses. These forward-looking statements are based on the Company's current expectations and inherently involve significant risks and uncertainties. Enphase Energy's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in the Company's most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC's website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

Disclaimer

Enphase Energy Inc. published this content on 27 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 01:59:02 UTC


© Publicnow 2020
All news about ENPHASE ENERGY, INC.
11/17ENPHASE ENERGY : Joins Forces with MSpectrum to Provide Solar Solutions in the P..
AQ
11/16Enphase Energy Joins Forces with MSpectrum to Provide Solar Solutions in the ..
GL
11/16ENPHASE ENERGY : Joins Forces with MSpectrum to Provide Solar Solutions in the P..
AQ
11/13ENPHASE ENERGY : Partners with DMEGC Solar Energy on High-Efficiency AC Modules ..
AQ
11/12ENPHASE ENERGY : Partners with DMEGC Solar Energy on High-Efficiency AC Modules ..
AQ
11/12ENPHASE ENERGY : Partners with DMEGC Solar Energy on High-Efficiency AC Modules ..
AQ
11/12Enphase Energy Partners with DMEGC Solar Energy on High-Efficiency AC Modules..
GL
11/10ENPHASE ENERGY : and Cutler Bay Solar Solutions Partner to Deliver 1.5 MWh of Ba..
AQ
11/09ENPHASE ENERGY : and Cutler Bay Solar Solutions Partner to Deliver 1.5 MWh of Ba..
AQ
11/09Enphase Energy and Cutler Bay Solar Solutions Partner to Deliver 1.5 MWh of B..
GL
More news
Financials (USD)
Sales 2020 765 M - -
Net income 2020 102 M - -
Net cash 2020 349 M - -
P/E ratio 2020 177x
Yield 2020 -
Capitalization 16 481 M 16 481 M -
EV / Sales 2020 21,1x
EV / Sales 2021 12,9x
Nbr of Employees 577
Free-Float 91,1%
Chart ENPHASE ENERGY, INC.
Duration : Period :
Enphase Energy, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENPHASE ENERGY, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 116,29 $
Last Close Price 130,46 $
Spread / Highest target 8,85%
Spread / Average Target -10,9%
Spread / Lowest Target -28,7%
EPS Revisions
Managers
NameTitle
Badrinarayanan Kothandaraman President, Chief Executive Officer & Director
Jeff McNeil Chief Operating Officer & Vice President
Eric Branderiz Chief Financial Officer & Executive Vice President
Martin Fornage Chief Technology Officer
Ben Kortlang Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ENPHASE ENERGY, INC.399.27%16 481
TONGWEI CO.,LTD123.91%19 303
SOLAREDGE TECHNOLOGIES, INC.186.01%13 928
SUNRUN INC.317.89%11 399
FIRST SOLAR, INC.59.51%9 459
FLAT GLASS GROUP CO., LTD.289.32%8 509