Enphase increased shipment and revenue in Q3

Enphase Energy Inc.'s headquarter in Pataluma, California, USA

US energy technology company and microinverter manufacturer Enphase Energy Inc. achieved third quarter revenue of $180.1 million, an increase of 34 percent sequentially and 131 percent year-over year. Net revenues increased by 131 percent for the three months ended September 30, 2019, as compared to the same period in 2018, primarily due to higher unit volume. Net income was $31.1 million compared to $10.6 million in Q2 2019 and loss of $3.4 million in Q3 2018. The company sold approximately 1,796,000 microinverter units (584 MW) in the three months ended September 30, 2019, as compared to approximately 665,000 units in the same period in 2018.
Net revenues increased by 85 percent for the nine months ended September 30, 2019, as compared to the same period in 2018, primarily due to higher unit volume. Enphase sold approximately 4,056,000 microinverter units in the first three quarters 2019, as compared to approximately 1,952,000 units in the same period in 2018.
For the fourth quarter of 2019, Enphase Energy estimates revenue to be within a range of $200 million to $210 million.
© PHOTON

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