Enphase Energy

Q2 FY2026 EarningsQ2 2026 revenue was $291.9M, up 3.2% QoQ but down 19.6% YoY. GAAP gross margin surged to 60.0% due to a $45.4M one-time tariff refund, while non-GAAP gross margin improved to 46.8% (+2.9pct QoQ). Non-GAAP operating income reached $56.7M, and non-GAAP diluted EPS was $0.46. Management provided Q3 FY26 revenue guidance of $290.0M–$320.0M, reflecting stabilized demand and continued investment in AI data center and GaN-based technologies.