Free Research Report as Enphase Energy’s Quarterly Revenue Advanced 27.80%
Stock Monitor: Photronics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 31, 2018 / If you want access to our free earnings report on Enphase Energy, Inc. (NASDAQ: ENPH) ("Enphase"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ENPH. On May 01, 2018, Enphase reported financial results for the first quarter of 2018 ending March 31, 2018. The Company surpassed analysts' estimates for earnings as well as revenue in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Photronics, Inc. (NASDAQ: PLAB), which also belongs to the Technology sector as the Company Enphase Energy. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=PLAB
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Enphase Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=ENPH
Earnings Highlights and Summary
Enphase's total revenues reached $69.97 million for Q1 FY18, reflecting an increase of 27.80% from $54.75 million in Q1 FY17. The reported revenue number exceeded analysts' consensus estimates of $67.30 million.
During Q1 FY18, Enphase's cost of revenues was $51.66 million, 8.29% higher than $47.70 million in Q1 FY17. The Company's gross profit advanced 159.86% to $18.32 million in the reported quarter from $7.05 million in the previous year's same quarter. Enphase improved 13.30 percentage points to 26.17% in Q1 FY18 from 12.87% in Q1 FY17 led by pricing management, supply chain optimization, and IQ platform transition.
Enphase incurred operating expenses of $20.79 million in Q1 FY18, 28.66% lower than $29.14 million in Q1 FY17. In the quarter under review, the Company's research and development (R&D) expenses fell 20.67% to $7.62 million on a y-o-y basis; sales and marketing expenses declined 3.58% to $6.23 million on a y-o-y basis; and general and administrative (G&A) advanced 19.03% to $6.94 million on a y-o-y basis. Enphase's loss from operations narrowed to $2.48 million in the reported quarter from $22.10 million in the previous year's same quarter.
Enphase reported a net loss of $5.13 million, or $0.06 per share, for the quarter ending March 31, 2018, after a net loss of $23.31 million, or $0.30 per share, in the same period last year. The reported earnings included stock-based compensation, reserve for non-recurring legal matter, and non-cash interest expense. Excluding these special items, Enphase had an adjusted net loss of $1.26 million in Q1 FY18 compared to $13.62 million in Q1 FY17. The Company's adjusted net loss per share was $0.01 in the quarter under review, up from $0.18 in the prior year corresponding quarter. For Q1 FY18, analysts estimated net loss per share of $0.03 for Enphase.
Cash Matters
Enphase had cash and cash equivalents of $53.26 million as on March 31, 2018, 82.73% higher than $29.14 million as on December 31, 2017.
Enphase's cash inflow from operating activities was $3.36 million for the three months ending March 31, 2018, compared to cash outflow from operating activities of $24.51 million in the same period last year.
Enphase spent $1.04 million on purchases of property and equipment in Q1 FY18, a decrease of 69.91% from $3.47 million in Q1 FY17.
Outlook
For the second quarter of 2018, Enphase expects revenue to be in the range of $72 million to $80 million. The Company expects GAAP and non-GAAP gross margin to be within a range of 26% to 29% in Q2 FY18. Enphase anticipates non-GAAP operating expense of $17.50 million to $18.50 million and GAAP operating expense of $19.50 million to $20.50 million in Q2 FY18, including stock-based compensation expense of $2 million.
Stock Performance Snapshot
May 30, 2018 - At Wednesday's closing bell, Enphase Energy's stock rose 6.50%, ending the trading session at $6.23.
Volume traded for the day: 3.74 million shares, which was above the 3-month average volume of 2.04 million shares.
Stock performance in the last month – up 50.12%; previous three-month period – up 87.65%; past twelve-month period – up 730.67%; and year-to-date – up 158.51%
After yesterday's close, Enphase Energy's market cap was at $623.75 million.
Price to Earnings (P/E) ratio was at 74.17.
The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry. This sector was up 0.9% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
