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Enphase Q2 sales jump 41 percent to new high

Petaluma solar component maker Enphase Energy on Tuesday reported record revenue of $81 million for the second quarter, up 41 percent from a year earlier.

“I’m extremely pleased with our continued progress and momentum,” CEO Paul Nahi told investors in a conference call.

Despite the jump in sales, the company recorded a net loss of $3 million, or 7 cents a share, compared to a net loss a year ago of nearly $6.4 million, or 15 cents a share.

The company makes microinverter systems that monitor solar installations, making them more productive and easier to manage. It shipped 132 megawatts worth of microinverter systems, a jump of 54 percent from a year earlier. About 85 percent of the company’s sales occur in the U.S., predominantly in the residential market.

“In the second quarter, we saw explosive growth in the solar market,” said CFO Kris Sennesael.

Enphase stock, which closed Tuesday at $9.70 on the Nasdaq, leapt more than 18 percent in after-hours trading.


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