<p align="justify"><strong>FREMONT </strong>&#8212; Enphase Energy, Inc., the world’s leading supplier of microinverter-based solar and battery systems, reported record quarterly revenue of $530.2 million in the second quarter of 2022. The company shipped 3,348,553 microinverters, or approximately 1,213 megawatts DC, and 132.4 megawatt hours of Enphase IQ Batteries.</p>
<p align="justify">Shares in Enphase were among the top performing companies of the day, up 17% to close at $254.77.</p>
<p>Financial highlights for the second quarter of 2022 at Enphase Energy are listed below.</p>
<ul >
<li>Record quarterly revenue of $530.2 million</li>
<li>GAAP gross margin of 41.3%; non-GAAP gross margin of 42.2%</li>
<li>GAAP operating income of $94.0 million; non-GAAP operating income of $152.4 million</li>
<li>GAAP net income of $77.0 million; non-GAAP net income of $149.9 million</li>
<li>GAAP diluted earnings per share of $0.54; non-GAAP diluted earnings per share of $1.07</li>
<li>Free cash flow of $192.0 million; ending cash, cash equivalents, and marketable securities of $1.25 billion</li>
</ul>
<p>Total revenue increased 20%, compared to the first quarter of 2022. Microinverter shipments were up 18%, compared to the first quarter of 2022. IQ Battery shipments were up 10%, compared to the first quarter of 2022.</p>
<p>Enphase has shipped more than 48 million microinverters to date, and over 2.5 million Enphase-based systems have been deployed in more than 140 countries.</p>

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