Enphase Energy Reports Net Income Drop of 75% in Q1 on Weak Demand

The company reported revenue of $263.3 million in Q1 2024, a 63.7% decrease YoY

April 24, 2024

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Microinverter and battery storage supplier Enphase Energy recorded a net income of $48 million during the first quarter (Q1) of 2024, a year-over-year (YoY) decrease of 75% from $192.32 million as the demand in its primary U.S. market witnessed a drop.

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Gautamee Hazarika

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Enphase Energy Reports Net Income Drop of 75% in Q1 on Weak Demand

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