Enphase Energy Inc (ENPH)

[janeyH]

Enphase Energy reported total revenue for the second quarter of 2016 of $79.2 million, an increase of 24 percent compared to the first quarter of 2016. During the second quarter of 2016, Enphase sold 186MW (AC) or 796,000 microinverters, which is an increase in MW of 30 percent compared to the first quarter of 2016. GAAP gross margin for the second quarter of 2016 was 17.9 percent and non-GAAP gross margin was 18.2 percent. GAAP operating expenses for the second quarter of 2016 were $29.9 million and non-GAAP operating expenses were $27.5 million. GAAP operating loss for the second quarter of 2016 was $15.8 million and non-GAAP operating loss was $13.0 million. GAAP net loss for the second quarter of 2016 was $16.7 million, or a net loss of $0.36 per share. On a non-GAAP basis, net loss was $13.9 million, or a net loss of $0.30 share.

The Company generated $7.3 million in cash flow from operations for the second quarter of 2016.