- Cash, cash equivalents and marketable securities remained flat at $1.53 billion.
- Enphase Energy reported Q2 2025 revenue of $363.2 million, shipping 1.53 million microinverters and 190.9 megawatt hours of batteries, generating $18.4 million in free cash flow.
- GAAP net income was $37.1 million with diluted EPS of $0.28, up from $0.22 in Q1.
- Non-GAAP net income was $89.9 million with diluted EPS of $0.69, compared to $0.68 in Q1.
- Operating expenses on a non-GAAP basis were $77.8 million, down from $79.4 million in Q1.
- Q2 non-GAAP gross margin was 48.6%, GAAP gross margin was 46.9%, both slightly down from Q1.
- The company repurchased approximately 703,000 shares for $30 million in Q2 under its $1 billion share repurchase program.
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