Enphase energy, inc. (ENPH)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11
Cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ASSETS
Current assets:
Cash and Cash Equivalents, at Carrying Value

549,144

251,409

203,046

205,959

78,087

106,237

116,164

58,471

53,255

29,144

28,878

30,953

29,955

17,764

24,112

8,243

13,016

28,452

22,491

31,887

27,127

42,032

44,537

37,621

39,935

38,190

31,778

33,976

36,434

45,294

41,717

66,969

31,903

51,524

Restricted cash

44,700

44,700

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, net of allowances of $374 and $564 at March 31, 2020 and December 31, 2019, respectively

95,484

145,413

133,689

97,537

81,715

78,938

54,117

58,696

55,622

65,346

68,869

56,403

48,903

61,019

59,482

48,973

47,056

46,099

75,322

67,315

45,870

45,119

49,270

46,537

28,450

32,084

34,744

32,104

24,908

27,743

32,734

9,961

13,447

17,771

Inventory

34,617

32,056

30,231

20,094

12,971

16,267

17,886

17,471

18,541

25,999

25,316

20,839

33,808

31,960

39,101

39,295

45,576

40,800

36,717

34,054

34,746

21,590

15,488

15,724

14,113

16,580

24,392

17,906

22,309

19,843

16,650

30,966

25,661

11,228

Prepayment to supplier

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

-

-

-

Prepaid expenses and other assets

27,752

26,079

24,551

26,261

22,669

20,860

21,631

20,741

20,435

9,957

13,254

13,307

10,133

7,121

7,187

7,925

7,237

6,417

7,080

8,076

7,087

6,155

5,194

5,588

4,283

3,655

3,153

2,708

2,492

2,118

2,030

2,581

2,308

1,264

Total current assets

751,697

499,657

391,517

349,851

195,442

222,302

209,798

155,379

147,853

130,446

136,317

121,502

122,799

117,864

129,882

104,436

112,885

121,768

141,610

141,332

114,830

114,896

114,489

105,470

86,781

90,509

94,067

86,694

86,143

94,998

98,131

110,477

73,319

81,787

Property and equipment, net

30,500

28,936

23,532

21,532

20,178

20,998

20,331

23,100

24,926

26,483

28,191

29,351

30,905

31,440

32,453

34,591

32,963

32,118

31,240

31,633

31,197

30,824

28,825

25,127

24,809

24,853

24,823

25,141

25,281

25,541

24,926

24,652

22,736

18,411

Operating lease, right of use asset

11,986

10,117

11,407

12,304

7,963

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets, net

29,332

30,579

31,761

32,943

34,124

35,306

36,078

363

439

515

591

668

806

945

1,669

1,852

2,036

2,220

1,489

1,596

1,704

1,811

-

-

-

286

-

-

-

-

-

-

-

-

Goodwill

24,783

24,783

24,783

24,783

24,783

24,783

24,783

3,664

3,664

3,664

3,664

3,664

3,664

3,664

3,745

3,745

3,745

3,745

3,745

3,745

3,745

3,745

-

-

-

0

-

-

-

-

-

-

-

-

Other assets

47,798

44,620

40,669

40,105

36,762

36,548

35,520

36,030

35,236

8,039

8,318

8,493

9,333

9,663

8,679

7,885

6,891

5,677

4,879

2,992

2,014

916

1,410

1,486

1,570

1,021

1,420

1,513

1,641

1,752

1,042

1,360

7,320

6,044

Deferred tax assets, net

86,806

74,531

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Derivative Instruments and Hedges, Noncurrent

47,885

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total assets

1,030,787

713,223

523,669

481,518

319,252

339,937

326,510

218,536

212,118

169,147

177,081

163,678

167,507

163,576

176,428

152,509

158,520

165,528

182,963

181,298

153,490

152,192

144,724

132,083

113,160

116,669

120,310

113,348

113,065

122,291

124,099

136,489

103,375

106,242

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable

34,538

57,474

60,692

65,989

52,489

48,794

28,103

21,895

14,087

28,747

34,620

15,425

15,858

31,696

32,551

37,610

24,293

25,569

32,707

34,467

30,954

22,316

21,992

19,509

9,353

7,363

15,103

10,012

9,057

11,272

15,197

25,551

24,797

12,928

Accrued Liabilities, Current

49,817

47,092

39,991

33,536

32,431

29,010

41,562

31,095

30,223

22,447

24,152

25,795

21,698

22,937

26,667

21,987

23,427

19,292

18,986

21,027

20,230

26,036

22,906

18,983

13,578

14,780

20,909

19,348

18,521

19,266

15,331

12,512

10,558

10,100

Deferred revenues, current

39,022

81,783

34,295

33,577

32,916

33,119

32,015

34,954

37,408

15,691

9,014

8,142

7,200

6,411

5,942

5,844

5,575

3,915

3,834

3,943

3,558

2,747

2,418

2,182

1,900

2,773

2,980

1,258

1,068

933

769

615

16,587

23,414

Product Warranty Accrual, Current

9,678

10,078

8,757

7,468

7,925

8,083

9,117

8,275

7,699

7,427

7,151

8,032

8,376

8,596

6,761

6,726

6,651

7,072

6,612

7,251

7,550

7,607

7,749

8,477

5,894

4,942

-

-

-

-

-

-

-

-

Revolving credit facility

-

-

-

-

-

-

-

-

-

-

0

0

0

10,100

12,450

12,450

20,000

17,000

17,000

17,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

3,032

-

-

-

0

-

-

-

0

2,888

2,805

3,370

3,507

3,432

3,365

2,440

2,384

6,844

6,488

5,437

4,529

Debt, current

100,567

2,884

3,084

3,043

2,985

28,155

24,125

18,429

14,268

17,429

10,552

5,951

1,497

-

1,197

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total current liabilities

233,622

199,311

146,819

143,613

128,746

147,161

134,922

114,648

103,685

91,741

85,489

63,345

54,629

82,772

85,568

84,617

79,946

72,848

79,139

83,688

62,292

58,706

57,953

51,956

34,095

33,365

42,424

33,983

31,086

33,855

38,141

45,166

58,155

52,370

Long-term liabilities:
Deferred revenues, noncurrent

106,205

100,204

85,746

82,288

78,393

76,911

74,065

75,107

78,265

29,941

36,327

35,782

34,499

33,893

31,827

29,743

27,723

25,115

22,701

20,465

18,217

16,612

15,339

13,398

12,064

11,284

10,325

9,303

8,378

7,537

6,151

5,067

4,305

3,670

Product Warranty Accrual, Noncurrent

27,823

27,020

25,867

25,526

23,117

23,211

23,067

23,367

22,926

22,389

23,201

23,581

23,619

22,818

23,588

23,340

23,008

23,475

26,194

26,512

26,613

26,333

24,558

24,492

24,834

25,490

20,932

18,790

17,094

15,260

11,904

9,192

7,877

6,733

Other liabilities

13,077

11,817

11,970

12,930

9,466

3,250

2,393

1,970

1,934

1,880

2,808

1,969

1,905

2,025

2,408

2,352

2,283

2,641

1,963

1,885

2,387

3,589

1,439

1,357

1,272

1,154

435

394

352

307

272

142

52

145

Debt, noncurrent

295,216

102,659

100,978

99,890

65,406

81,628

87,907

33,559

36,459

32,322

37,058

41,385

45,384

20,768

22,808

-

-

0

-

-

-

-

2,973

3,726

4,457

5,170

5,861

6,531

8,046

8,677

5,103

6,839

8,619

10,148

Warrants liability

38,637

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

776

1,399

Convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,819

19,202

Total long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,098

-

-

-

31,781

23,430

21,240

40,672

39,898

Total liabilities

714,580

441,011

371,380

364,247

305,128

332,161

322,354

248,651

243,269

178,273

184,883

166,062

160,036

162,276

166,199

140,052

132,960

124,079

129,997

132,550

109,509

105,240

102,262

94,929

76,722

76,463

79,977

69,001

64,956

65,636

61,571

66,406

98,827

92,268

Commitments and contingent liabilities (Note 9)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Stockholders’ equity:
Preferred stock, $0.00001 par value, 10,000 shares authorized; none issued and outstanding

-

-

-

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

93,596

-

Common stock, $0.00001 par value, 150,000 shares and 150,000 shares authorized; and 125,072 shares and 123,109 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Additional paid-in capital

433,542

458,315

453,566

449,802

357,023

353,335

351,173

313,778

309,019

287,256

285,449

283,717

281,941

252,126

247,829

231,248

227,832

224,732

220,467

217,062

211,687

208,022

203,911

199,124

195,383

192,916

190,265

188,082

185,667

183,629

181,814

180,360

9,833

9,103

Accumulated deficit

-116,245

-185,181

-301,847

-332,946

-343,563

-346,302

-347,011

-343,541

-339,803

-295,727

-292,787

-285,933

-273,840

-250,535

-237,347

-218,591

-201,868

-183,073

-167,290

-167,914

-167,311

-160,991

-161,393

-162,206

-159,175

-152,939

-150,129

-143,828

-137,432

-127,026

-119,284

-110,377

-98,992

-88,808

Accumulated other comprehensive loss

-1,091

-923

569

414

663

742

-7

-353

-368

-656

-465

-169

-631

-292

-254

-200

-404

-210

-211

-400

-395

-79

-56

236

230

229

197

93

-126

52

-2

100

111

83

Stockholders' Equity Attributable to Parent

316,207

272,212

152,289

117,271

14,124

7,776

4,156

-30,115

-31,151

-9,126

-7,802

-2,384

7,471

1,300

10,229

12,457

25,560

41,449

52,966

48,748

43,981

46,952

42,462

37,154

36,438

40,206

40,333

44,347

48,109

56,655

62,528

70,083

4,548

13,974

Total liabilities and stockholders’ equity

1,030,787

713,223

523,669

481,518

319,252

339,937

326,510

218,536

212,118

169,147

177,081

163,678

167,507

163,576

176,428

152,509

158,520

165,528

182,963

181,298

153,490

152,192

144,724

132,083

113,160

116,669

120,310

113,348

113,065

122,291

124,099

136,489

103,375

106,242

Embedded Derivative, Fair Value of Embedded Derivative Liability

45,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-