{"id":21186,"date":"2018-05-03T06:27:25","date_gmt":"2018-05-02T19:57:25","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=21186"},"modified":"2018-05-03T06:27:25","modified_gmt":"2018-05-02T19:57:25","slug":"enphase-energy-q1-mb0570","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/enphase-energy-q1-mb0570\/","title":{"rendered":"A Busy First Quarter For Enphase Energy"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-21187\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverter-news.jpg\" alt=\"Enphase Energy microinverters\" width=\"700\" height=\"400\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverter-news.jpg 700w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverter-news-300x171.jpg 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>US-headquartered microinverter manufacturer Enphase says it remains on track towards its new operating model.<!--more--><\/p>\n<p>Enphase yesterday announced its first quarter revenue came to USD $70.0 million. While this was a drop of 12% from the previous quarter, it was an increase of 28% year-over-year.\u00a0 The company states its GAAP<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/enphase-energy-q1-mb0570\/#en-21186-1' id='enref-21186-1' onclick='return hhEndnotes_show(21186)'>1<\/a><\/sup> gross margin was 26.2%, up from 23.8% in the prior quarter.<\/p>\n<p>The company finished up the quarter with $53.3 million in cash. Inventory was $18.5 million in Q1 compared to $26.0 million in the fourth quarter and $33.8 million in the first quarter of last year.<\/p>\n<p>After a lengthy <a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-misses-targets\/\">challenging run<\/a> followed by a <a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-energy-financials-mb0487\/\">positive final quarter last year<\/a>, Enphase remains upbeat about its future.<\/p>\n<blockquote><p>&#8220;In summary, we are pleased with our continued progress towards our 30-20-10<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/enphase-energy-q1-mb0570\/#en-21186-2' id='enref-21186-2' onclick='return hhEndnotes_show(21186)'>2<\/a><\/sup> operating model, which we expect to achieve in the fourth quarter of 2018,&#8221; <a href=\"http:\/\/newsroom.enphase.com\/releasedetail.cfm?ReleaseID=1065784\" target=\"_blank\" rel=\"noopener\">said the company<\/a>.<\/p><\/blockquote>\n<p>Something else that has been looking a lot healthier in recent months are Enphase shares.<\/p>\n<div id=\"attachment_21190\" style=\"width: 710px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-21190\" class=\"size-full wp-image-21190\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-share-price.png\" alt=\"Enphase Energy share price\" width=\"700\" height=\"310\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-share-price.png 700w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-share-price-300x133.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><p id=\"caption-attachment-21190\" class=\"wp-caption-text\">NASDAQ: ENPH Image: Google<\/p><\/div>\n<p>Among Enphase&#8217;s business highlights for the quarter:<\/p>\n<h2>Another AC Module Partnership<\/h2>\n<p>Late last month, Enphase <a href=\"http:\/\/newsroom.enphase.com\/releasedetail.cfm?releaseid=1064612\">announced<\/a> it had entered into a partnership with Solaria Corporation for the development of an AC solar module, which will have Enphase&#8217;s IQ 7+ microinverter<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/enphase-energy-q1-mb0570\/#en-21186-3' id='enref-21186-3' onclick='return hhEndnotes_show(21186)'>3<\/a><\/sup> integrated. The module will be known as the Solaria PowerXT\u00ae-AC.\u00a0Other solar panel manufacturers to team up with Enphase on AC solar modules include <a href=\"https:\/\/www.solarquotes.com.au\/blog\/enphase-panasonic-ac-solar-mb0463\/\">Panasonic<\/a>, JinkoSolar (<a href=\"https:\/\/www.solarquotes.com.au\/blog\/jinkosolar-eagle-ac-panel-mb0200\/\">Eagle AC<\/a>) and LG (<a href=\"https:\/\/enphase.com\/en-us\/ac-module\/partners\/lg\">NeON 2 ACe<\/a>).<\/p>\n<h2>Lots Of Microinverters Shipped<\/h2>\n<p>For Q1, 180 megawatts DC, or 611,000 Enphase microinverters were shipped. According to the Enphase web site, more than 16 million of its microinverters in total have made their way to various parts of the world. Quite a few of them have been popping up in Australia <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">solar power system<\/a> installations.<\/p>\n<div id=\"attachment_21188\" style=\"width: 710px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-21188\" class=\"size-full wp-image-21188\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverters-australia.jpg\" alt=\"Enphase microinverter installations in Australia\" width=\"700\" height=\"496\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverters-australia.jpg 700w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/05\/enphase-microinverters-australia-300x213.jpg 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><p id=\"caption-attachment-21188\" class=\"wp-caption-text\">Source: Enphase<\/p><\/div>\n<p>Generally speaking, Australians seem to be happy with these devices according to SQ&#8217;s <a href=\"https:\/\/www.solarquotes.com.au\/inverters\/enphase-review.html\">Enphase microinverter reviews<\/a>, which are provided by customers who have had the units installed for at least twelve months.<\/p>\n<p>Enphase&#8217;s IQ microinverter range can support modules up to 440 Wp, as well as 60- and 72-cell solar panels.<\/p>\n<h2>Another Award<\/h2>\n<p>Enphase received the <a href=\"https:\/\/enphase.com\/en-us\/blog\/enphase-receives-solar-innovation-award-2018\" target=\"_blank\" rel=\"noopener\"> Dutch Solar Innovation Award 2018<\/a> in March for its seventh generation microinverters, which is no doubt headed straight to the Enphase pool room to sit with its <a href=\"http:\/\/newsroom.enphase.com\/awards.cfm\" target=\"_blank\" rel=\"noopener\">other awards<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US-headquartered microinverter manufacturer Enphase says it remains on track towards its new operating model.<\/p>\n","protected":false},"author":17,"featured_media":21187,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-21186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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In a report covering financial results for the fourth quarter of 2020, Enphase says it achieved revenue of USD $264.8 million, well up on Q4 2019's $210.03 million. 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