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Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.

Metric	Dec '27 (E)	Dec '26 (E)	Dec '25 (E)	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Adjusted Revenue			1,464.4
Adjusted Gross Profit			—
Adjusted Gross Margin			—
Adjusted EBIT			144.1
Adjusted EBIT Margin			9.8%
Adjusted EBITDA			464.8
Adjusted EBITDA Margin			31.7%
Adjusted Net Income			369.8
Adjusted Net Income Margin			25.3%
Adjusted EPS			2.8
Adjusted Free Cash Flow (FCF)			185.5
Adjusted Free Cash Flow Margin			12.7%
Adjusted Capital Expenditures			-42.5