Enphase Energy Q1 2024 Financial Results: Highlights and Analysis
Wednesday, 24 April 2024, 03:30
Enphase Energy Q1 2024 Financial Results
Key Highlights:
- Reported quarterly revenue of $263.3 million
- Shipped approximately 1.4 million microinverters and 75.5 megawatt hours of batteries
- Reduced channel inventory by $113 million in Q1
- Delivered strong results in Europe and US expects market rebound
- Optimistic about NEM 3.0 and plans for further expansion
Financial Performance:
Enphase Energy's revenue for Q1 2024 was $263.3 million with a focus on sales of microinverters and batteries. The company reduced channel inventory due to softer demand in the market but remains optimistic about future growth.
Market Trends:
Despite challenges, Enphase Energy saw growth in Europe with increased revenue and expects a bounce-back in the US market in Q2. The company is focused on NEM 3.0 and plans to expand its product portfolio and geographic reach to drive future sales.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.