Enphase Energy, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on October 27, 2026, reporting third-quarter net revenues of $293.3 million and net income of $23.4 million.

Key Highlights

  • Net revenues: $293,329 thousand for the three months ended September 30, 2026, compared with $410,427 thousand in the same period of 2025.
  • Net income: $23,387 thousand for Q3 2026, versus $66,638 thousand in Q3 2025; diluted earnings per share were $0.17 versus $0.50.
  • Nine-month net income: $52,060 thousand for the nine months ended September 30, 2026, compared with $133,420 thousand for the same period of 2025.
  • Total assets: $2,877,038 thousand as of September 30, 2026, down from $3,509,792 thousand as of December 31, 2025.
  • Stockholders' equity: $1,242,036 thousand at September 30, 2026, up from $1,087,023 thousand at December 31, 2025.
  • Shares outstanding: 132,314,277 shares of common stock as of October 23, 2026, according to the filing.
  • Cash and cash equivalents: $380,398 thousand at September 30, 2026, compared with $474,318 thousand at December 31, 2025.

Enphase Energy's Third-Quarter 2026 Financial Results and Balance Sheet Shifts

According to the filing, Enphase Energy (NASDAQ:ENPH) reported net revenues of $293,329 thousand for the three months ended September 30, 2026, a decline from $410,427 thousand in the comparable prior-year quarter. Gross profit for the third quarter was $127,118 thousand, compared with $196,239 thousand a year earlier. Income from operations fell to $6,466 thousand in Q3 2026 from $66,159 thousand in Q3 2025. The company reported a loss before income taxes of $3,571 thousand for the quarter, offset by an income tax benefit of $26,958 thousand, resulting in net income of $23,387 thousand.

For the nine months ended September 30, 2026, the filing disclosed net revenues of $868,083 thousand, gross profit of $402,525 thousand, and net income of $52,060 thousand, each lower than the corresponding nine-month figures of $1,129,664 thousand, $534,973 thousand, and $133,420 thousand for the prior-year period. Basic and diluted earnings per share for the nine months were $0.39 each, compared with $1.02 and $1.01, respectively, in the prior-year period.

On the balance sheet, total current liabilities declined to $460,099 thousand at September 30, 2026 from $1,262,150 thousand at December 31, 2025, primarily reflecting the absence of current debt, which stood at zero compared with $632,183 thousand at year-end 2025. Marketable securities decreased to $551,448 thousand from $1,038,536 thousand over the same period. Accumulated deficit narrowed to $151,836 thousand from $203,896 thousand. Stock-based compensation expense for the nine months ended September 30, 2026 was $135,588 thousand, according to the statements of stockholders' equity.

What Was Disclosed

Enphase Energy's 10-Q for the period ended September 30, 2026 disclosed quarterly and year-to-date income statements, a condensed consolidated balance sheet, statements of cash flows, and stockholders' equity reflecting lower revenues and net income compared with the prior-year periods.