| Balance Sheets | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 401,880 | 370,536 | 350,077 | 256,325 |
| Restricted cash | 0 | 0 | 65,013 | - |
| Marketable securities | 1,076,044 | 1,159,648 | 1,116,780 | 1,510,299 |
| Accounts receivable, net of allowances of 654 and 7,788 at september30, 2025 and december31, 2024, respectively | 265,513 | 223,218 | 225,625 | 232,225 |
| Inventory | 188,652 | 173,016 | 144,025 | 158,837 |
| Prepaid expenses and other current assets | 459,698 | 362,523 | 295,725 | 203,195 |
| Total current assets | 2,391,787 | 2,288,941 | 2,197,245 | 2,360,881 |
| Property and equipment, net | 131,317 | 136,902 | 142,219 | 148,444 |
| Operating lease, right of use asset, net | - | - | - | 28,120 |
| Indefinite-lived intangibles | 286 | 286 | 286 | 286 |
| Net-Intellectual Property | - | - | - | 16,936 |
| Net-Developed Technology Rights | 7,035 | 8,630 | 10,221 | - |
| Net-Customer Relationships | 10,679 | 12,247 | 13,799 | 17,058 |
| Net-Trade Names | 9,332 | 11,217 | 13,102 | 16,872 |
| Intangible assets, net | 27,332 | 32,380 | 37,408 | 51,152 |
| Goodwill | 214,406 | 214,890 | 212,359 | 214,292 |
| Other assets | 234,748 | 193,426 | 211,447 | 185,448 |
| Deferred tax assets, net | 320,898 | 312,250 | 305,408 | 275,854 |
| Total assets | 3,320,488 | 3,178,789 | 3,106,086 | 3,264,191 |
| Accounts payable | 188,571 | 162,697 | 115,374 | 112,417 |
| Customer rebates and sales incentives | 89,158 | 87,982 | - | 74,798 |
| Liability due to supply agreements | 51,802 | 56,043 | - | 47,544 |
| Freight | 5,806 | 6,569 | - | 10,252 |
| Salaries, commissions, incentive compensation and benefits | 15,119 | 11,566 | - | 12,072 |
| Income tax payable | 248 | 2,613 | - | 2,187 |
| Operating lease liabilities, current | 5,813 | 6,079 | - | 6,320 |
| Vat payable | 3,666 | 4,039 | - | 4,201 |
| Liabilities related to restructuring accruals | 2,444 | 2,051 | - | 630 |
| Other | 33,870 | 29,595 | - | 31,815 |
| Accrued liabilities | 207,926 | 206,537 | 212,169 | 189,819 |
| Deferred revenues, current | 111,493 | 129,040 | 167,771 | 129,556 |
| Warranty obligations, current | 31,473 | 33,136 | 33,298 | 35,755 |
| Debt, current | 631,681 | 631,179 | 630,677 | 99,931 |
| Total current liabilities | 1,171,144 | 1,162,589 | 1,159,289 | 567,478 |
| Deferred revenues, non-current | 345,710 | 331,531 | 333,704 | 354,210 |
| Warranty obligations, non-current | 178,668 | 172,950 | 170,149 | 148,477 |
| Other liabilities | 58,077 | 59,542 | 61,032 | 62,392 |
| Debt, non-current | 571,867 | 571,540 | 571,214 | 1,200,261 |
| Total liabilities | 2,325,466 | 2,298,152 | 2,295,388 | 2,332,818 |
| Common stock, 0.00001 par value, 300,000 shares authorized and 130,849 shares and 132,448 shares issued and outstanding at september30, 2025 and december31, 2024, respectively | 1 | 1 | 1 | 1 |
| Additional paid-in capital | 1,234,287 | 1,184,497 | 1,128,163 | 1,033,036 |
| Accumulated deficit | -242,583 | -309,221 | -315,856 | -104,927 |
| Accumulated other comprehensive income (loss) | 3,317 | 5,360 | -1,610 | 3,263 |
| Total stockholders equity | 995,022 | 880,637 | 810,698 | 931,373 |
| Total liabilities and stockholders equity | 3,320,488 | 3,178,789 | 3,106,086 | 3,264,191 |
Enphase Energy, Inc. (ENPH)
Enphase Energy, Inc. (ENPH)