Enphase Energy (ENPH), a leading provider of solar energy solutions, witnessed a significant pre-market rally of 6.88% on Wednesday morning following the release of its impressive fourth-quarter 2024 financial results and a positive outlook for 2025.

In the fourth quarter of 2024, Enphase Energy reported:

• Revenue of $382.7 million, surpassing analyst estimates of $377.6 million and marking a 26.5% year-over-year increase, driven by robust demand for its microinverter systems and battery storage products.
• Adjusted earnings per share (EPS) of $0.94, beating the consensus estimate of $0.72 by a significant 30.56%.
• Non-GAAP gross margin of 53.2%, aided by cost reductions and benefits from the Inflation Reduction Act (IRA).
• Strong revenue growth of 6% in the U.S. market, driven by higher microinverter sales.
• Positive outlook for 2025, with revenue guidance ranging from $340 million to $380 million for Q1 2025.

In addition to the robust financial performance, Enphase Energy announced several new product launches and expansions into new markets during the quarter. These include the introduction of higher domestic content products eligible for IRA tax credits, the launch of portable energy systems and EV chargers, and entry into Southeast Asia and Latin American markets.

The company's strong results and positive outlook are a testament to its innovative product offerings and ability to capitalize on the growing global demand for renewable energy solutions. With continued focus on innovation and expansion, Enphase Energy is well-positioned to maintain its leadership in the solar energy market and drive sustainable growth for the future.