Enphase increased revenue, improved loss and expects further supply shortages in Q4
Post date: 08/11/2018 - 20:52
US microinverter and storage systems provider Enphase Energy Inc shipped 204 MW, or approximately 665,000 microinverters in the third quarter of 2018. Revenues were $78 million compared to $77 million in the same quarter of last year. Net loss improved to $3.4 million from $6.8 million in Q3 2017. Regarding the nine month ended September 30, the company achieved revenue of $223 million, compared to $206 million in the same period 2017. Net loss improved significantly to $12.3 million in 2018 (2017: $-42.2 million).
According to the company, the »biggest challenge in the third quarter was meeting the additional demand as we experienced supply shortages which constrained our revenue by more than $10 million.« Enphase expects »the supply shortages to continue in the fourth quarter of 2018 and have made appropriate investments to alleviate these constraints by early 2019.« For the fourth quarter, the company estimates revenue to be within a range of $80.0 million to $90.0 million.