Enphase Energy, Inc. (ENPH) stock prices were down 0.9% as of market close on April 27th 2021, bringing the price per share down to USD$171.1. Subsequent premarket fluctuations have seen the stock further drop 7.07% to USD$159.
Distribution Agreement with Rubicon Energy
March 29th, 2021 saw ENPH announce its collaboration with Rubicon Energy to facilitate the distribution of Enphase IQ microinverters in the expanding South African market. The microinverters are geared towards residential and commercial installers of grid-tied photovoltaic applications, with the IQ 7A microinverters helping to cater to the higher power modules utilized in the area.
Acquisition of DIN
Shortly after, ENPH announced the completion of its acquisition of DIN Engineering Services LLP on April 1st, 2021. The Indian Solar Design Services business facilitates North American residential solar installations with the provision of outsourced proposal drawings and permit plan sets.
Upgraded Support Services
April 7th, 2021 saw ENPH announce its around-the-clock global support for installers and customers via telephone, online chat, or email. This move consolidates the companyâ€™s commitment to providing consumers with the best possible customer experience. Recent years have seen the addition of features like online chat support; the Enphase Community platform where Enphase system owners can interface with one another; the provision of advanced online learning via the companyâ€™s Enphase University platform; and microinverter activation and returns that are processed instantly and remotely with the Service-on-the-Go tool.
Expansion of EIN
Enphase announced on April 8th, 2021 that it had extended the reach of its Enphase Installer Network (EIN) to include the Netherlands and Belgium. The company had already successfully launched EIN in the United States and Australia earlier in 2020, with more European countries expected to be included in the EIN umbrella over the course of 2021. The EIN coordinate with a network of trusted installers to ensure the delivery of exceptional customer experiences with Enphase products. Furthermore, the Network is designed to provide Enphase installers with a myriad of digital tools and exclusive benefits to help them expand their businesses.
Financial Reports and Forecasts
Total revenue reported for Q1 2021 enjoyed a 14% increase on the numbers reported for Q4 2020, thanks in large to the increasing global demand for ENPH solar and storage systems. ENPH reported a non-GAAP gross margin of 41.1% owing to the companyâ€™s focus on disciplined pricing and effective cost management. Based on the trajectory of significant growth, ENPH anticipates revenues of around USD$320 million for the second quarter of 2021, with a continued effort to maintain their non-GAAP gross margin at a healthy 41%.
Future Outlook for ENPH
With so many promising developments over the past month, the company is poised to leverage its new partnerships and improved systems designs to usher in another era of growth. Current and prospective shareholders are hopeful that recent dips in ENPH stock prices will soon be corrected in favor of a significant and sustained upswing that will reward investors with increased shareholder value.