"Enphase Energy ( NASDAQ: ENPH) delivered a sharp earnings beat on Tuesday afternoon, posting Q3 revenue of $410.4 million and non-GAAP EPS of $0.90, both well ahead of expectations. Enphase topped consensus by $37.3 million on the top line, a 10% beat that marks the company's highest revenue in two years. Microinverter shipments reached 1.77 million units, while battery shipments hit a record 195.0 MWh."
"Q4 Guidance Signals Demand Softening Here's where the story shifts. Management guided Q4 revenue to $310 million to $350 million, with a midpoint of $330 million. That's 20% below Q3's actual $410.4 million. Gross margin guidance for the quarter sits at 40.0% to 43.0% on a GAAP basis, below the 49.2% non-GAAP margin they just posted. The stock is now down 8% after earnings."
Enphase posted Q3 revenue of $410.4 million and non‑GAAP EPS of $0.90, topping expectations by $37.3 million and $0.24 respectively. Microinverter shipments reached 1.77 million units and battery shipments set a record at 195.0 MWh, driven by stronger demand and "safe harbor" revenue recognition. Q4 guidance calls for $310 million to $350 million revenue with a $330 million midpoint, implying a 20% decline from Q3 and GAAP gross margins of 40.0%–43.0%. Operating expenses are expected at $77–$81 million. Cash and marketable securities totaled $1.48 billion and the stock fell about 8% post‑earnings.
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