Enphase Energy (ENPH), a leading provider of solar energy solutions, saw its stock surge over 6% in after-hours trading on Tuesday, following the company's impressive fourth-quarter 2024 financial results. The strong performance was driven by robust demand for its microinverter systems and battery storage products.

In the quarter ended December 31, 2024, Enphase Energy reported:

Financial Highlights:

• Revenue of $382.7 million, beating analysts' estimates of $377.6 million and representing a 26.5% year-over-year increase.
• Non-GAAP earnings per share of $0.94, surpassing the consensus estimate of $0.72 by a significant 30.56%.
• Non-GAAP gross margin reached 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.