Enphase Energy reports increasing revenue and shrinking net income in Q1 2021

US energy technology company and microinverter manufacturer Enphase Energy Inc. reported revenue of $301.7 million in the first quarter of 2021 compared to $205.5 million in the same period of 2020. Guidance for Q1 2021 were revenues to be within a range of $280 million to $300 million.
Operating income was $61.3 million (Q1 2020: $44.7 million). Net income was $31.6 million (Q1 2020: $68.9 million). The company shipped approximately 830 MW (dc) or 2,452,765 microinverters (Q4 2020: 762 MW).
For the second quarter of 2021, Enphase Energy estimates revenue to be within a range of $300 million to $320 million. The guidance include operations of both Sofdesk, Inc. and the Solar Design Services business of DIN Engineering Services, LLPD, which were acquired by the company in early 2021.
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