Enphase Energy, Inc. (ENPH) saw a push of 16.47% in the aftermarket because the company reported fourth-quarter 2021 results. However, the last trading session closed at $144.50 with an increase of 2.65%.
Fourth Quarter 2021 Results – Latest Stats by ENPH
ENPH announced fourth-quarter 2021 results on 8th February 2022. The company recorded revenue of about $412.7 million. Not only this but GAAP gross margin came out to be 39.6% and GAAP operating income totaled $57.7 million. Furthermore, cash flow from operations was $97.2 million. Last but not the least, GAAP operating income came out to be $52.6 million whereas non-GAAP net income recorded was $102.8 million.
In the fourth quarter of 2021, the company completed the acquisition of ClipperCreek. It provides residential and commercial customers in the United States with electric vehicle (EV) charging options. Moreover, the growing popularity of electric vehicles has consequences for residential energy management. With an EV, homes will require substantially more energy, and the enormous EV battery may one day be used for backup and grid services. Lastly, the power conversion and software platform will soon be used to manage loads and resources within the home.
Expansion of Battery Storage in Arizona by ENPH – What’s up?
On 3rd February 2022, ENPH reported about the expansion of battery storage in Arizona. IQ Microinverters and IQ Batteries will power the entire expansion process. According to the most current U.S. Census Bureau report, Arizona’s household storage capacity is continuously increasing year over year, with forecasts indicating deployments will more than quadruple in the next year and more than 8-fold by 2026. Moreover, Enphase offers a solar-plus-battery system that protects installers and homeowners from high-voltage DC exposure. The battery chemistry used in the Enphase IQ Battery is Lithium Iron Phosphate (LFP), which has a long cycle life and great thermal stability, making it safer to use.
Arizona is beginning to recognize the evident value of home solar and batteries for both individual households and the overall grid. In addition, by partnering with Enphase, the company is able to help the consumers take charge of their home energy future by providing some of the most dependable and advanced technologies available.
Furthermore, the companies happily partner with Enphase to offer their customers the greatest quality products and customer experience available. Lastly, Enphase’s micro inverter-based solar and battery solutions provide greater energy management, dependability, and a more simplified process in general.