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.

Enphase Energy, Inc.

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Assets	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Cash and Cash Equivalents	370.5	369.1	252.1	288.7	278.7	473.2
Cash and Cash Equivalents
Short-Term Investments	1,159.6	1,253.5	1,394.3	1,406.3	1,521.8	1,139.6
Marketable Securities
Total Cash and Cash Equivalents	1,530.2	1,622.6	1,646.4	1,695	1,800.5	1,612.8
Accounts Receivable	223.2	223.7	277.5	446	520.3	440.9
Accounts Receivable, Net
Total Trade Receivables	223.2	223.7	277.5	446	520.3	440.9
Inventories	173	165	176.1	213.6	166.1	149.7
Inventory
Other Current Assets	362.5	315.7	141.7	88.9	73.9	60.8
Restricted Cash
Prepaid Expenses and Other Assets
Total Current Assets	2,288.9	2,327.1	2,241.6	2,443.5	2,560.8	2,264.3
Total Current Assets
Net Property, Plant & Equipment	136.9	147.5	171.5	188.1	174.6	132.7
Property and Equipment, Net
Operating Lease, Right of Use Asset, Net
Net Intangible Assets	32.4	42.4	56.7	68.5	86	99.5
Intangible Assets, Net
Goodwill	214.9	211.6	213.2	214.6	214.3	213.6
Goodwill
Other Long-Term Assets	505.7	521.1	483.5	468.3	430.2	374.2
Other Assets
Deferred Tax Assets, Net
Total Assets	3,178.8	3,249.7	3,166.6	3,383	3,465.9	3,084.3
Total Assets

Liabilities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Accounts Payable	162.7	90	79.6	116.2	79.1	125.1
Accounts Payable
Accrued Expenses	206.5	196.9	197.6	261.9	425.3	295.9
Accrued Liabilities
Short-Term Debt	—	—	—	—	—	—
Revolving Credit Facility
Current Portion of Long-Term Debt	631.2	101.3	98.6	—	93.4	90.9
Debt, Current
Unearned Revenue	129	237.2	123.6	118.3	109.2	90.7
Deferred Revenues, Current
Other Current Liabilities	33.1	34.7	30.3	36.1	36.7	35.6
Warranty Obligations, Current
Total Current Liabilities	1,162.6	660.1	529.6	532.4	743.6	638.2
Total Current Liabilities
Long-Term Debt	571.5	1,201.1	1,199.4	1,293.7	1,201.1	1,199.5
Debt, Non-Current
Other Long-Term Liabilities	564	555.5	553	573.2	548.6	421
Deferred Revenues, Non-Current
Warranty Obligations, Non-Current
Other Liabilities
Total Long-Term Liabilities	1,135.6	1,756.6	1,752.4	1,866.9	1,749.7	1,620.5
Debt, Non-Current
Deferred Revenues, Non-Current
Warranty Obligations, Non-Current
Other Liabilities
Total Liabilities	2,298.2	2,416.7	2,282.1	2,399.4	2,493.3	2,258.7
Total Liabilities

Equity	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Common Stock	0	0	0	0	0	0
Common Stock
Treasury Stock	—	—	—	—	-68.1	—
Treasury Stock, at Cost
Additional Paid-in Capital	1,184.5	1,084.6	993.4	939.3	858	819.1
Additional Paid-in Capital
Accumulated Other Comprehensive Income	5.4	-6.4	-8	-2	-6.9	-10.9
Accumulated Other Comprehensive Income
Retained Earnings	-309.2	-245.2	-100.9	46.3	189.5	17.3
Retained Earnings
Total Common Shareholders' Equity	880.6	833	884.5	983.6	972.6	825.6
Total Stockholders' Equity
Total Shareholders' Equity	880.6	833	884.5	983.6	972.6	825.6
Total Liabilities and Shareholders' Equity	3,178.8	3,249.7	3,166.6	3,383	3,465.9	3,084.3
Total Liabilities and Stockholders' Equity