Enphase says that the turnover of the entire year fell by 42% as the residential solar market in the sun dropped, but the margins improved and the American production was considerably expanded.
Enphase Energy, the world’s largest supplier of microinverters on solar energy, has said that the income from the fourth quarter of 2024 somewhat exceeded Wall Street’s expectations.
The company based in California booked $ 382 million in turnover, with gross margins with 51.8% and the net income at $ 62 million, an increase of $ 46 million and 46.8% in the previous quarter. Gross margins, including the net benefits of the incentives of the American inflation reduction, reached 53.2%.
Enphase said that during the quarter it achieved “strong” American production results, and send 1.7 million micro -formers and 6.7 MWh to IQ batteries. The total global and American shipments include 2 million micro -formers and 152 MWh of IQ batteries.
“We continue to develop our sourcing strategy to maximize the opportunities on domestic content and diversify our geographical exposure,” said Badrinarayan Kothandaraman, CEO of Enphase Energy. “Our American and international turnover mix for Q4 was 79% and 21% respectively.”
The annual worldwide production capacity of the company is around 7.25 million micro -formers, of which 5 million are manufactured in the United States through contract production partners.
“We generally see a stable demand in the US, both in California and outside of California. NEM 3.0 currently represents 66% of our installations in California with a fixing speed of 45% for our own battery, ”said Kothandaraman. “The approval of batteries is steadily increasing in the US due to new tariff structures such as NEM 3.0, VPP programs and the need for resilience
Turnover fell considerably on an annual basis from 2023 to 2024. In 2023, the company reached $ 2.29 billion in income, while 2024 amounted to a total of $ 1.33 billion, around 42%decrease. The deterioration reflected a down year for residential solar energy worldwide.
The company left the fourth quarter of 2024 with $ 1.72 billion in cash, kasequivalents, limited cash and tradable effects and generated $ 167.3 million in cash flow from the activities in the fourth quarter.
During the fourth quarter, the company introduced new products, including the IQ Meter Collar, IQ battery of the fourth generation and new IQ Combiner products. It launched the IQ Powerpack 1500, a 1.5 kWh smart, portable energy system for home, work and on-the-go use.
For the first quarter of 2025, the company expects that the income will be within a range of $ 340 million to $ 380 million, including shipments from 150 MWh to 170 MWh of IQ batteries and 1.2 million micro -inverters.
The first quarter of the financial outlook of 2025 comprises approximately $ 50.0 million of Safe port income. The company defines safe port income as all sales to customers who are planning to install the inventory for more than a year.
“We have successfully navigated a challenging 2024, generating a strong free cash flow and profitable – and profitability, while the channel stock is brought to normalized levels,” ” Said kothandaraman. “We have been introduced 2025 with a continuous focus on operational efficiency, product reliability, customer service, product width and geographical expansion. We have also doubled on American production for micro -formers and batteries, which we believe are good for our customers, economy and for an and phase. “
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