Summary by Futu AI
Enphase Energy, Inc., a leading global energy technology company, reported its financial results for the third quarter ended September 30, 2024, on October 22, 2024. The company announced a quarterly revenue of $380.9 million, a significant increase from the previous quarter's $303.5 million. The non-GAAP gross margin stood at 48.1%, including the net IRA benefit, and 38.9% when excluding it. The GAAP operating income was reported at $49.8 million, with non-GAAP operating income at $101.4 million. Enphase Energy also reported a GAAP net income of $45.8 million and non-GAAP net income of $88.4 million. The earnings per share on a GAAP basis were $0.33, and on a non-GAAP basis, $0.65. The company highlighted strong free cash flow of $161.6 million and ended the quarter with $1.77 billion in cash, cash equivalents...Show More