Enphase Energy (ENPH) Operating Expenses (2011 - 2026)

Enphase Energy's Operating Expenses history runs 16 years deep, the most recent figure standing at $130.0 million for Q1 2026.

• In Q1 2026, Operating Expenses fell 4.61% year-over-year to $130.0 million; the TTM figure through Mar 2026 stood at $523.2 million (down 3.75% YoY), while the FY2025 annual figure was $529.5 million, down 4.05% from the prior year.
• Operating Expenses was $130.0 million for Q1 2026 at Enphase Energy, roughly flat from $129.6 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $158.7 million in Q1 2023 to a low of $115.1 million in Q1 2022.
• Historically, Operating Expenses has averaged $138.3 million across 5 years, with a median of $135.4 million in 2024.
• The sharpest annual moves came in 2022 and 2024: Operating Expenses surged 87.04% in 2022, then fell 11.54% in 2024.
• A 5-year view of Operating Expenses shows it stood at $153.7 million in 2022, then grew by 2.05% to $156.9 million in 2023, then fell by 8.54% to $143.5 million in 2024, then dropped by 9.68% to $129.6 million in 2025, then increased by 0.34% to $130.0 million in 2026.
• The last three Operating Expenses figures came in at $130.0 million (Q1 2026), $129.6 million (Q4 2025), and $130.1 million (Q3 2025), per Business Quant data.