Flagship explainer
How Enphase Energy, Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $1.5B | 100% |
| |
| Cost of revenue | $786M | 53% |
|
| $687M | 47% |
| |
| $158M | 11% |
| |
| Income before tax | $205M | 14% |
|
| Income tax | $32.7M | 2% |
|
| $172M | 12% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001463101-26-000013