Enphase Energy (ENPH) Operating Expenses (2011 - 2026)
Enphase Energy (ENPH) posted quarterly Operating Expenses of $123.5 million for Q2 2026, down 7.48% year-over-year from $133.5 million in Q2 2025, and down 5.03% quarter-over-quarter from $130.0 million in Q1 2026.
Enphase Energy (ENPH) Operating Expenses (2011 - 2026) Analysis & Trends
Enphase Energy's Operating Expenses history runs 16 years deep, the most recent figure standing at $123.5 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 7.48% year-over-year to $123.5 million; the TTM figure through Jun 2026 stood at $513.2 million (down 5.26% YoY), while the FY2025 annual figure was $529.5 million, down 4.05% from the prior year.
- Operating Expenses for Q2 2026 stood at $123.5 million, down from $130.0 million in the prior quarter.
- The five-year high for Operating Expenses was $158.7 million in Q1 2023, with the low at $115.1 million in Q1 2022.
- The 5-year median for Operating Expenses is $134.4 million (2024), against an average of $137.4 million.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses jumped 87.04% in 2022, then declined 11.54% in 2024.
- Enphase Energy's Operating Expenses stood at $153.7 million in 2022, then climbed by 2.05% to $156.9 million in 2023, then declined by 8.54% to $143.5 million in 2024, then slipped by 9.68% to $129.6 million in 2025, then slipped by 4.71% to $123.5 million in 2026.
- Business Quant data shows ENPH's Operating Expenses at $123.5 million in Q2 2026, $130.0 million in Q1 2026, and $129.6 million in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.48 Bn | 21.75 Bn | 605.00 Mn | 154.62 Mn |
| 2 | Nextpower | 13.32 Bn | 12.11 Bn | 335.85 Mn | 144.95 Mn |
| 3 | Enphase Energy | 5.23 Bn | 4.29 Bn | 175.01 Mn | 123.50 Mn |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 835.20 Mn |
| 5 | Solaredge Technologies | 1.93 Bn | 1.35 Bn | 95.15 Mn | 111.20 Mn |
| 6 | Shoals Technologies | 1.23 Bn | 1.22 Bn | 49.53 Mn | 30.80 Mn |
| 7 | Canadian Solar | 999.08 Mn | -589.21 Mn | 124.40 Mn | 188.46 Mn |
| 8 | JinkoSolar Holding | 846.83 Mn | -2.46 Bn | 147.66 Mn | -232.93 Mn |
| 9 | Array Technologies | 731.63 Mn | 424.33 Mn | 99.60 Mn | 64.84 Mn |
| 10 | Toyo | 178.97 Mn | 102.33 Mn | 47.76 Mn | -11.49 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 123.50 Mn |
| Mar 31, 2026 | 130.04 Mn |
| Dec 31, 2025 | 129.59 Mn |
| Sep 30, 2025 | 130.08 Mn |
| Jun 30, 2025 | 133.49 Mn |
| Mar 31, 2025 | 136.32 Mn |
| Dec 31, 2024 | 143.49 Mn |
| Sep 30, 2024 | 128.38 Mn |
| Jun 30, 2024 | 135.37 Mn |
| Mar 31, 2024 | 144.61 Mn |
| Dec 31, 2023 | 156.89 Mn |
| Sep 30, 2023 | 144.02 Mn |
| Jun 30, 2023 | 153.02 Mn |
| Mar 31, 2023 | 158.71 Mn |
| Dec 31, 2022 | 153.74 Mn |
| Sep 30, 2022 | 132.48 Mn |
| Jun 30, 2022 | 124.97 Mn |
| Mar 31, 2022 | 115.15 Mn |
| Dec 31, 2021 | 105.62 Mn |
| Sep 30, 2021 | 103.01 Mn |