Enphase energy, inc. (ENPH)
Income statement / Quarterly
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'11Sep'11Jun'11Mar'11
Net revenues

205,545

210,032

180,057

134,094

100,150

92,289

78,002

75,896

69,972

79,674

77,038

74,704

54,751

90,601

88,684

79,185

64,121

65,629

102,874

102,093

86,653

105,207

99,113

82,004

57,580

67,056

62,046

58,167

45,577

57,568

60,813

55,697

42,600

57,134

44,728

29,592

18,069

Cost of revenues

124,870

132,151

115,351

88,775

66,811

64,124

52,738

53,195

51,657

60,685

60,577

61,157

47,703

74,367

72,805

65,049

52,361

49,929

71,408

69,066

58,629

70,172

66,592

55,172

38,925

45,560

44,611

41,883

33,376

41,512

44,489

42,096

33,293

44,063

36,185

24,785

15,421

Gross profit

80,675

77,881

64,706

45,319

33,339

28,165

25,264

22,701

18,315

18,989

16,461

13,547

7,048

16,234

15,879

14,136

11,760

15,700

31,466

33,027

28,024

35,035

32,521

26,832

18,655

21,496

17,435

16,284

12,201

16,056

16,324

13,601

9,307

13,071

8,543

4,807

2,648

Operating expenses:
Research and development

11,876

11,168

11,085

9,604

8,524

7,340

8,165

9,462

7,620

8,208

7,397

7,947

9,605

11,378

13,169

13,091

13,066

12,544

12,059

12,786

13,430

13,040

12,112

11,148

9,086

8,721

8,293

8,484

9,026

8,533

10,571

8,655

7,842

7,180

6,431

6,143

5,345

Sales and marketing

11,772

10,690

9,551

9,054

7,433

6,617

7,375

6,828

6,227

4,940

5,453

6,274

6,458

7,592

11,016

9,987

10,215

10,922

10,510

12,508

11,937

11,798

9,884

10,493

8,828

8,315

8,550

7,365

6,850

7,525

7,039

6,360

5,049

5,612

4,567

4,265

3,010

General and administrative

12,315

10,450

9,895

8,583

9,880

7,664

7,510

6,969

6,943

5,983

5,441

4,964

5,833

6,296

6,708

6,846

7,567

7,405

7,118

8,102

8,205

8,246

8,632

7,679

6,526

6,071

5,937

5,926

6,036

6,177

6,911

6,091

5,696

4,109

3,980

3,889

3,250

Restructuring charges

0

1,131

469

631

368

1,541

2,588

0

0

1,991

4,071

3,609

7,247

1,060

2,717

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

35,963

33,439

31,000

27,872

26,205

23,162

25,638

23,259

20,790

21,122

22,362

22,794

29,143

26,326

33,610

29,924

30,848

30,871

29,687

33,396

33,572

33,084

30,628

29,320

24,440

23,107

22,780

21,775

21,912

22,235

24,521

21,106

18,587

16,901

14,978

14,297

11,605

Income from operations

44,712

44,442

33,706

17,447

7,134

5,003

-374

-558

-2,475

-2,133

-5,901

-9,247

-22,095

-10,092

-17,731

-15,788

-19,088

-15,171

1,779

-369

-5,548

1,951

1,893

-2,488

-5,785

-1,611

-5,345

-5,491

-9,711

-6,179

-8,197

-7,505

-9,280

-3,830

-6,435

-9,490

-8,957

Other income (expense), net
Interest income

1,091

815

894

593

211

490

321

154

93

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

Interest expense

3,155

2,303

2,286

1,351

3,751

3,095

2,790

2,423

2,385

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

670

437

484

464

-

-

-

-

1,380

886

460

280

Other expense, net

-924

1,467

-943

-5,480

-481

-1,113

-379

-572

-126

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-113

-378

-297

-49

-

-

-

-

-323

145

-338

-56

Gain (Loss) on Derivative Instruments, Net, Pretax

15,344

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total other income (expense), net

12,356

-21

-2,335

-6,238

-4,021

-3,718

-2,848

-2,841

-2,418

-1,755

-1,137

-1,992

-1,079

-2,345

-881

-591

529

63

-844

-8

-605

-1,134

-953

-428

-342

-783

-815

-781

-513

-1,258

-580

-3,729

-839

-1,707

-741

-798

-332

Income before income taxes

57,100

44,421

31,371

11,209

3,100

1,285

-3,222

-3,399

-4,893

-3,888

-7,038

-11,239

-23,174

-12,437

-18,612

-16,379

-18,559

-15,108

935

-377

-6,153

817

940

-2,916

-6,127

-2,394

-6,160

-6,272

-10,224

-7,437

-8,777

-11,234

-10,119

-5,537

-7,176

-10,288

-9,289

Income tax benefit (provision)

-11,900

-72,245

272

591

300

576

248

339

235

-948

-184

854

131

751

144

344

236

675

311

226

167

415

127

115

109

416

141

124

182

305

130

151

65

-

-

0

-

Net Income (Loss) Attributable to Parent

68,936

116,666

31,099

10,618

2,765

709

-3,470

-3,738

-5,128

-2,940

-6,854

-12,093

-23,305

-13,188

-18,756

-16,723

-18,795

-15,783

624

-603

-6,320

402

813

-3,031

-6,236

-2,810

-6,301

-6,396

-10,406

-7,742

-8,907

-11,385

-10,184

-5,537

-7,176

-10,288

-9,289

Net income per share:
Basic and diluted (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41,617

41,149

-

-

-

-

1,635

1,503

1,034

848

Basic (in USD per share)

0.56

0.95

0.25

0.09

0.03

0.01

-0.03

-0.04

-0.06

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.15

-

-

-

-

-

-

-

-

-

-

Diluted (in USD per share)

0.50

0.88

0.23

0.08

0.02

0.01

-0.03

-0.04

-0.06

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.15

-

-

-

-

-

-

-

-

-

-

Income (Loss) from Continuing Operations, Per Basic and Diluted Share

-

-

-

-

-

-

-

-

-

-0.03

-0.08

-0.14

-0.30

-0.21

-0.40

-0.36

-0.41

-

-

-

-

-

-

-

-

-0.07

-

-0.15

-0.25

-0.19

-0.22

-0.29

-5.97

-0.06

-4.77

-9.95

-10.95

Shares used in per share calculation:
Basic (in shares)

123,531

122,692

122,258

113,707

108,195

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41,777

-

-

-

-

-

-

-

-

-

-

Diluted (in shares)

138,104

133,234

134,542

142,937

115,863

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41,777

-

-

-

-

-

-

-

-

-

-