US-based home energy management firm Enphase Energy has released its financial results for the fourth quarter of 2025. For this period, the firm’s revenues stood at $343.3 million compared to revenues of $410.4 million for the third quarter. The firm also reported a GAAP gross margin of 44.3%. The company has reported a non-GAAP gross margin of 46.1%, including a 5.1% tariff impact, and recorded GAAP and non-GAAP operating income of $22.4 million and $79.4 million, respectively. During this quarter, the company has shipped approximately 1.55 million units of microinverters, representing about 682.6 MW DC, along with 150.1 MWh capacity of IQ Batteries. By the end of the quarter, Enphase had $1.51 billion worth of cash, cash equivalents, and marketable securities on its balance sheet. As an outlook for Q1 2026, Enphase Energy has anticipated its revenues guidance in between $270.0 million to $300.0 million.