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• | Revenue of $92.3 million; IQ 7 shipments at 84% of all microinverters |
• | GAAP gross margin of 30.5%; non-GAAP gross margin of 30.7% |
• | GAAP operating expenses of $23.2 million; non-GAAP operating expenses of $19.7 million |
• | GAAP operating income of $5.0 million; non-GAAP operating income of $8.6 million |
• | GAAP net income of $0.7 million; non-GAAP net income of $5.1 million |
• | GAAP diluted EPS of $0.01; non-GAAP diluted EPS of $0.04 |
• | Ending cash balance of $106.2 million, net of a $10 million final payment to SunPower |
GAAP | Non-GAAP | ||||||||||||||||||||||
Q4 2018 | Q3 2018 | Q4 2017 | Q4 2018 | Q3 2018 | Q4 2017 | ||||||||||||||||||
Revenue | $ | 92,289 | $ | 78,002 | $ | 79,674 | $ | 92,289 | $ | 78,002 | $ | 79,674 | |||||||||||
Gross margin | 30.5 | % | 32.4 | % | 23.8 | % | 30.7 | % | 32.8 | % | 24.2 | % | |||||||||||
Operating income (loss) | $ | 5,003 | $ | (374 | ) | $ | (2,133 | ) | $ | 8,565 | $ | 6,975 | $ | 1,307 | |||||||||
Net income (loss) | $ | 709 | $ | (3,470 | ) | $ | (2,940 | ) | $ | 5,092 | $ | 4,626 | $ | 683 | |||||||||
Basic EPS | $ | 0.01 | $ | (0.03 | ) | $ | (0.03 | ) | $ | 0.05 | $ | 0.05 | $ | 0.01 | |||||||||
Diluted EPS | $ | 0.01 | $ | (0.03 | ) | $ | (0.03 | ) | $ | 0.04 | $ | 0.04 | $ | 0.01 |
GAAP | Non-GAAP | ||||||||||||||
FY 2018 | FY 2017 | FY 2018 | FY 2017 | ||||||||||||
Revenue | $ | 316,159 | $ | 286,166 | $ | 316,159 | $ | 286,166 | |||||||
Gross margin | 29.9 | % | 19.6 | % | 30.2 | % | 20.0 | % | |||||||
Operating income (loss) | $ | 1,596 | $ | (39,378 | ) | $ | 20,535 | $ | (15,733 | ) | |||||
Net income (loss) | $ | (11,627 | ) | $ | (45,192 | ) | $ | 10,013 | $ | (20,530 | ) | ||||
Basic EPS | $ | (0.12 | ) | $ | (0.54 | ) | $ | 0.10 | $ | (0.25 | ) | ||||
Diluted EPS | $ | (0.12 | ) | $ | (0.54 | ) | $ | 0.10 | $ | (0.25 | ) |
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Enphase Energy, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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An accounting policy is considered to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the consolidated financial statements.
Our product costs are impacted by technological innovations, such as advances in semiconductor integration and new product introductions, economies of scale resulting in lower component costs, and improvements in production processes and automation.
We devote substantial resources to research and development programs that focus on enhancements to, and cost efficiencies in, our existing products and timely development of new products that utilize technological innovation to drive down product costs, improve functionality, and enhance reliability.
The increase in accounts receivable was due to higher sales in the fourth quarter of 2016 as compared to the same period in 2015, and the increase in other assets was primarily attributable to an increase in customer financing receivables.
Offsetting these sources of cash was an increase in accounts receivable of $18.0 million and an increase in other assets of $4.8 million.
The net charge for the...Read more
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Selling these variants simultaneously improved...Read more
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Enphase Energy, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ENPH
CIK: 1463101
Form Type: 10-K Annual Report
Accession Number: 0001463101-19-000033
Submitted to the SEC: Fri Mar 15 2019 9:07:20 AM EST
Accepted by the SEC: Fri Mar 15 2019
Period: Monday, December 31, 2018
Industry: Semiconductors And Related Devices