Enphase Energy beats by $0.11, beats on revs; guides Q4 revs above consensus
- Reports Q3 (Sep) earnings of $0.60 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $0.49; revenues rose 96.9% year/year to $351.52 mln vs the $343.77 mln S&P Capital IQ Consensus.
- Co issues upside guidance for Q4, sees Q4 revs of $390-$410 mln vs. $374.55 mln S&P Capital IQ Consensus.
- GAAP gross margin to be within a range of 37.0% to 40.0%; non-GAAP gross margin to be within a range of 38.0% to 41.0%, excluding stock-based compensation expenses
- GAAP operating expenses to be within a range of $119.0 million to $122.0 million, including $52.0 million estimated for stock-based compensation expenses and acquisition related costs and amortization
- Non-GAAP operating expenses to be within a range of $67.0 million to $70.0 million, excluding $52.0 million estimated for stock-based compensation expenses and acquisition related costs and amortization. The non-GAAP estimates include increased investments in new products, software, and marketing, and a $3.6 million accrual for post combination expenses from prior acquisitions
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