Enphase Energy Inc. (ENPH) Financial Statements (2024 and earlier)

Company Profile

Business Address 47281 BAYSIDE PARKWAY
FREMONT, CA 94538
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3674 - Semiconductors and Related Devices (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,695,0341,612,8431,016,651679,379251,409106,237
Cash and cash equivalents288,748473,244119,316679,379251,409106,237
Short-term investments1,406,2861,139,599897,335   
Receivables445,959440,896333,626182,165145,41378,938
Inventory, net of allowances, customer advances and progress billings213,595149,70874,40041,76432,05616,267
Inventory213,595149,70874,40041,76432,05616,267
Contract with customer, asset, after allowance for credit loss40,24132,13023,50817,87915,05513,516
Other undisclosed current assets48,68928,69414,27611,87755,7247,344
Total current assets:2,443,5182,264,2711,462,461933,064499,657222,302
Noncurrent Assets
Operating lease, right-of-use asset19,88721,37914,42017,68310,117
Property, plant and equipment168,244111,36782,16742,98528,93620,998
Intangible assets, net (including goodwill)283,098313,100279,01253,59155,36260,089
Goodwill214,562213,559181,25424,78324,78324,783
Intangible assets, net (excluding goodwill)68,53699,54197,75828,80830,57935,306
Deferred income tax assets252,370204,872122,47092,90474,531
Other noncurrent assets215,895169,291118,72659,87544,62036,548
Total noncurrent assets:939,494820,009616,795267,038213,566117,635
TOTAL ASSETS:3,383,0123,084,2802,079,2561,200,102713,223339,937
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities378,083421,024271,679149,151104,56677,804
Accounts payable116,164125,085113,76772,60957,47448,794
Accrued liabilities261,919295,939157,91276,54247,09229,010
Deferred revenue118,30090,74762,67047,66581,783
Debt 90,89286,052325,9672,88428,155
Contract with customer, liability33,119
Other undisclosed current liabilities36,06635,55619,39511,26010,0788,083
Total current liabilities:532,449638,219439,796534,043199,311147,161
Noncurrent Liabilities
Long-term debt and lease obligation1,293,7381,199,465951,5944,898102,65981,628
Long-term debt, excluding current maturities1,293,7381,199,465951,5944,898102,65981,628
Liabilities, other than long-term debt573,201421,023257,698177,168139,041103,372
Accounts payable and accrued liabilities153,02195,89053,98234,65327,02023,211
Deferred revenue369,172281,613187,186125,473100,204
Contract with customer, liability76,911
Other liabilities51,00843,52016,53017,04211,8173,250
Total noncurrent liabilities:1,866,9391,620,4881,209,292182,066241,700185,000
Total liabilities:2,399,3882,258,7071,649,088716,109441,011332,161
Equity
Equity, attributable to parent983,624825,573430,168483,993272,2127,776
Common stock111111
Additional paid in capital939,338819,119837,924534,744458,315353,335
Accumulated other comprehensive income (loss)(1,988)(10,882)(2,020)434(923)742
Retained earnings (accumulated deficit)46,27317,335(405,737)(51,186)(185,181)(346,302)
Total equity:983,624825,573430,168483,993272,2127,776
TOTAL LIABILITIES AND EQUITY:3,383,0123,084,2802,079,2561,200,102713,223339,937

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues2,290,7862,330,8531,382,049774,425624,333316,159
Cost of revenue(1,232,398)(1,356,258)(827,627)(428,444)(403,088)(221,714)
Gross profit:1,058,388974,595554,422345,981221,24594,445
Operating expenses(612,647)(526,334)(338,590)(159,542)(118,516)(92,849)
Operating income:445,741448,261215,832186,439102,7291,596
Nonoperating income (expense)67,3983,787(94,904)(67,029)(12,615)(11,825)
Investment income, nonoperating    (44,348)  
Other nonoperating income (expense)6,509(431)6,050(3,836)(5,437)(2,190)
Interest and debt expense(8,839)(9,438)(56,497)(21,001)(6,000)(9,635)
Income (loss) from continuing operations before equity method investments, income taxes:504,300442,61064,43198,40984,114(19,864)
Other undisclosed income from continuing operations before income taxes8,8399,43856,49721,0016,0009,635
Income (loss) from continuing operations before income taxes:513,139452,048120,928119,41090,114(10,229)
Income tax expense (benefit)(74,203)(54,686)24,52114,58571,034(1,398)
Income (loss) from continuing operations:438,936397,362145,449133,995161,148(11,627)
Income (loss) before gain (loss) on sale of properties:145,449133,995161,148(11,627)
Net income (loss) available to common stockholders, basic:438,936397,362145,449133,995161,148(11,627)
Interest on convertible debt2,5732,6291771771,088 
Net income (loss) available to common stockholders, diluted:441,509399,991145,626134,172162,236(11,627)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):438,936397,362145,449133,995161,148(11,627)
Other comprehensive income (loss)(2,468)1,993745   
Comprehensive income (loss):436,468399,355146,194133,995161,148(11,627)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent11,362(10,855)(3,199)1,357(1,665)1,398
Comprehensive income (loss), net of tax, attributable to parent:447,830388,500142,995135,352159,483(10,229)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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