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Enphase Energy (ENPH) guidance and outlook
Enphase Energy (ENPH) gave its guidance on Oct 27, 2026: Revenue +3% for Q4 2026; Revenue $225M–$255M for Q4 2026; Gross margin 38%–41% for Q4 2026; Gross margin 40%–43% for Q4 2026. Enphase Energy's 10-Q filed Jul 28, 2026 makes 14 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | Q4 2026 | +3% | new |
| Revenue | Q4 2026 | $225M–$255M | new |
| Gross margin | Q4 2026 | 38%–41% | new |
| Gross margin | Q4 2026 | 40%–43% | new |
| Operating expenses | Q4 2026 | $119M–$123M | new |
| Operating expenses | Q4 2026 | $76.0M–$80.0M | new |
From the earnings release filed Oct 27, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Jul 28, 2026
- We sell primarily to solar distributors who combine our products with others, including solar module products and racking systems, and resell to installers in each target region.
- The IQ SST will be built as a supercluster of 342 power modules, with each module powered by our custom Kestrel ASIC and high-frequency GaN-based power platform.
- We expect full system demonstrations later this year.
- As a result, our effective tax rate for the period reflects the impact of these permanent benefits and may not be indicative of the statutory tax rate or expected annual effective tax rate.
- We expect our principal short-term cash requirements (over the next 12 months) to include working capital, strategic investments, acquisitions, repurchases of common stock and payments of withholding taxes for net share settlement of employee equity awards, payments on our outstanding debt, and purchases of property and equipment.
- We plan to fund any cash requirements for the next 12 months from our existing cash, cash equivalents and marketable securities on hand, and cash generated from operations.
- For the long-term period (beyond 12 months), we plan to continue growing cash flows from operations and sale of AMPTC to support our business operations and strategic investment plans.
- We regularly evaluate our liquidity position, debt obligations and anticipated cash needs.
- We anticipate that access to the debt market will be more constrained compared to prior periods due to elevated interest rates and recent policy changes to solar tax incentives following the enactment of the OBBBA.
- Upon any conversion of the Notes due 2028, we expect to pay cash equal to the
- principal amount, and at our election, we will pay or deliver cash and/or shares of our common stock for any conversion premium.
- As of June 30, 2026, we had open purchase obligations of $236.1 million related to component inventory that we and our primary contract manufacturers procure on our behalf in accordance with our production forecast as well as other inventory related purchase commitments.
Enphase Energy's latest quarter
Enphase Energy, Q3 2026: revenue $293M (-28% year over year), operating margin 2.2%, net earnings $23.4M, operating cash flow $90K. The chart follows the revenue to costs, profit and cash.
Questions
Did Enphase Energy raise or lower its guidance?
Enphase Energy (ENPH) gave its guidance on Oct 27, 2026: Revenue +3% for Q4 2026; Revenue $225M–$255M for Q4 2026; Gross margin 38%–41% for Q4 2026; Gross margin 40%–43% for Q4 2026.
What does Enphase Energy expect?
We sell primarily to solar distributors who combine our products with others, including solar module products and racking systems, and resell to installers in each target region. The IQ SST will be built as a supercluster of 342 power modules, with each module powered by our custom Kestrel ASIC and high-frequency GaN-based power platform. We expect full system demonstrations later this year.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.