ENPH Enphase (ENPH) Q1 FY26 earnings call
Enphase Energy navigated a transitional Q1 FY26 with $282.9 million in revenue, driven by strong safe harbor demand and early signs of recovery in Europe. While U.S. residential solar faced headwinds from tax credit expiration and financing challenges, the company expanded its Propel prepaid lease program and secured significant multiyear safe harbor agreements. Enphase also announced its entry into the AI data center market with the IQ Solid-State Transformer, targeting a 2028 revenue opportunity, alongside a robust product roadmap for batteries, EV charging, and commercial microinverters.
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ENPH operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Microinverters shipped | 1.41MWe reported quarterly revenue of $282.9 million, shipped 1.41 million microinverters and 103-megawatt hours of batteries and generated free cash flow of $83 million.Source: earnings call transcript | 1.59MWe reported quarterly revenue of $291.9 million shipped 1.59 million microinverters and 113.8 megawatt hours of batteries and generated free cash flow of $25.9 million.Source: earnings call transcript | +12.8% |
| Batteries shipped | 103 megawatt hoursWe reported quarterly revenue of $282.9 million, shipped 1.41 million microinverters and 103-megawatt hours of batteries and generated free cash flow of $83 million.Source: earnings call transcript | 113.8 megawatt hoursWe reported quarterly revenue of $291.9 million shipped 1.59 million microinverters and 113.8 megawatt hours of batteries and generated free cash flow of $25.9 million.Source: earnings call transcript | +10.5% |
| Net Promoter Score Customer service | 82%Our customer service NPS, Net Promoter Score, was 82% in Q1, a record for Enphase compared to 79% in Q4.Source: earnings call transcript | 80%Our global customer service NPS was 80% in the second quarter as compared to 82% in the first quarter.Source: earnings call transcript | -2 pt |
| IQ Batteries shipped Texas | 49.5 megawatt hoursWe shipped 49.5 megawatt hours of IQ Batteries from our Texas manufacturing facility in Q1.Source: earnings call transcript | 43 megawatt hoursWe also shipped 43-megawatt hours of IQ Batteries from our Texas facility in the second quarter.Source: earnings call transcript | -13.1% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.