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Enphase reported earnings per share of $1.02, missing the $1.03 estimate. The company posted revenue of $551.1 million, Which fell short of the $566.02 million estimate.
Enphase cited high inventory at its distribution partners and softening in demand in the Netherlands, France, and Germany, its key markets.
The company anticipates fourth-quarter revenue to be between $300 million and $350 million, far short of the $601.24 million estimate.
President and CEO, Badri Kothandaraman, highlighted other developments for the company, saying, " Solargraf, our cloud-based design and proposal software platform, now provides NEM 3.0 functionality for solar and battery systems in California. We began offering 3D and shading features and continue to make progress on new features and functions. The software platform is now available to installers in the United States, Brazil, Germany, and Austria."
Enphase reported earnings per share of $1.02, missing the $1.03 estimate. The company posted revenue of $551.1 million, Which fell short of the $566.02 million estimate.
Enphase cited high inventory at its distribution partners and softening in demand in the Netherlands, France, and Germany, its key markets.
The company anticipates fourth-quarter revenue to be between $300 million and $350 million, far short of the $601.24 million estimate.
President and CEO, Badri Kothandaraman, highlighted other developments for the company, saying, " Solargraf, our cloud-based design and proposal software platform, now provides NEM 3.0 functionality for solar and battery systems in California. We began offering 3D and shading features and continue to make progress on new features and functions. The software platform is now available to installers in the United States, Brazil, Germany, and Austria."
