On November 7, 2024, Enphase Energy, Inc. announced a restructuring plan aimed at aligning its workforce and cost structure with its strategic priorities and commitment to profitable growth. The plan involves a reduction of approximately 17% of its global workforce, impacting around 500 employees and contractors. Enphase will also streamline operations by focusing contract manufacturing in the United States, India, and China, and ceasing operations in Guadalajara, Mexico. Despite these changes, the company's global microinverter production capacity will remain at about 7.25 million units per quarter. The restructuring is expected to incur charges of $17 million to $20 million, with substantial completion of the employee restructuring expected within the first half of 2025. The financial outlook for Q4 2024 remains unchanged except for an expected increase in GAAP operating expenses by approximately $14 million due to the restructuring. Enphase anticipates reducing non-GAAP operating expenses to $75 million to $80 million per quarter in 2025 upon completion of the restructuring.

On November 7, 2024, Enphase Energy, Inc. announced a restructuring plan aimed at aligning its workforce and cost structure with its strategic priorities and commitment to profitable growth. The plan involves a reduction of approximately 17% of its global workforce, impacting around 500 employees and contractors. Enphase will also streamline operations by focusing contract manufacturing in the United States, India, and China, and ceasing operations in Guadalajara, Mexico. Despite these changes, the company's global microinverter production capacity will remain at about 7.25 million units per quarter. The restructuring is expected to incur charges of $17 million to $20 million, with substantial completion of the employee restructuring expected within the first half of 2025. The financial outlook for Q4 2024 remains unchanged except for an expected increase in GAAP operating expenses by approximately $14 million due to the restructuring. Enphase anticipates reducing non-GAAP operating expenses to $75 million to $80 million per quarter in 2025 upon completion of the restructuring.