Filing Flows › Enphase Energy (ENPH) › Q3 2026
Enphase Energy (ENPH) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
Enphase Energy (ENPH) reported revenue of $293M for the third quarter 2026 (Q3 2026), -29% from a year earlier and +0.5% from the quarter before. Operating margin was 2.2%, net earnings $23.4M (8.0% of revenue).
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.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $293M | +0.5% | -29% |
| Operating profit | $6.5M | -87% | -90% |
| Net earnings | $23.4M | -35% | -65% |
| Operating cash flow | $90K | -100% | -99% |
What changed
Revenue was $293.3M in Q3 2026, down 29% year over year and up 1% from the previous quarter.
Gross margin was 43.3%, down 4.5 points from Q3 2025. Operating profit was $6.5M, a 2.2% margin (down 13.9 points year over year). Operating expenses fell 7% while revenue fell 29%. Net earnings were $23.4M, down 65% year over year.
Operating cash flow was $90K (down 99% year over year), 0% of net earnings. Non-cash charges added back $20.1M of depreciation and amortization and $43.0M of share-based compensation. Working capital and other items used $86.4M. Capital expenditures of $11.5M exceeded it, leaving free cash flow of −$11.4M.
Questions
What was Enphase Energy's revenue in the third quarter 2026?
Enphase Energy (ENPH) reported revenue of $293M for the third quarter 2026 (Q3 2026), -29% from a year earlier and +0.5% from the quarter before.
Was Enphase Energy profitable in the third quarter 2026?
Operating profit was $6.5M (2.2% of revenue) and net earnings $23.4M.
Source: Enphase Energy 10-Q on SEC EDGAR.