DILIGENT BOARDS LOGIN AUSTRALIA UPDATE
DILIGENT BOARDS LOGIN AUSTRALIA FREE

and record sell-through for our microinverters in Q2. We are pleased to report record quarterly revenue in the U.S. In the U.S., revenue increased 15% sequentially and 66% year on year. Our U.S.Īnd international revenue mix for Q2 was 80% and 20%, respectively.

Our lead times or batteries are still around 14 to 16 weeks due to global logistics challenges. We are on track to add an additional cell pack supplier early next year for our third-generation battery. We are also working on reducing manufacturing costs by adding more fully automated lines instead of semi-automated lines. This will enable a capacity of 6 million microinverters per quarter for us globally. We are on track to begin manufacturing and flexes factory in Romania starting in Q1 '23. Our quarterly capacity across all contract manufacturing facilities is around 5 million microinverters today. With the growing demand for our products, we remain vigilant regarding the global supply chain and logistics challenges. Our supply chain situation is quite stable due to diligent supplier management as well as qualification of alternate suppliers. Let's talk about our microinverter manufacturing. We remain focused on customer service and ensuring that we are easy to do business with. During Q2, we added customer service agents and field service technicians in U.S., Europe, and Australia. Our average call wait time increased to 4.7 minutes in Q2, compared to 3.2 minutes in Q1, primarily due to an increase in call volume related to the growth in the business.

Our Q2 Net Promoter Score or NPS worldwide was 68%, the same as in Q1, and our North American NPS was 71%, compared to 74% in Q1. Let's now discuss how we are servicing customers. Mandy will go into our financials later in the call. As a reminder, our baseline financial model is 35%, 15% 20%. This means 42% gross margin, 13% operating expenses and 29% operating income, all as a percentage of revenue on a non-GAAP basis. We exited Q2 at approximately 42%, 13%, 29%.

We reported record revenue of $530.2 million, achieved non-GAAP gross margin of 42.2% and generated free cash flow of $192 million, And 37% of our Q2 microinverter shipments were IQ8.

Good afternoon, and thank you for joining us today to discuss our second quarter 2022 financial results.

We caution you not to play any undue reliance on forward-looking statements and undertake no duty or obligation to update any forward-looking statements as a result of new information, future events, or changes in expectations. For a more complete discussion of the risks and uncertainties, please see our most recent Form 10-K and 10-Qs filed with the SEC. These forward-looking statements involve significant risks and uncertainties and our actual results and the timing of events could differ materially from these expectations. Our operations, including manufacturing, customer service and supply and demand, the anticipated growth in sales in the market, new product introductions and regulatory matters. During this conference call, Enphase management will make forward-looking statements, including, but not limited to, statements related to our expected future financial performance, the capabilities of our technology and products and the benefits to homeowners and installers. After the market closed today, Enphase issued a press release announcing the results for its second quarter ended June 30, 2022. On today's call are Badri Kothandaraman, our president and chief executive officer Mandy Yang, our chief financial officer and Raghu Belur, our chief products officer. Good afternoon, and thank you for joining us on today's conference call to discuss Enphase Energy's second quarter 2022 results.

DILIGENT BOARDS LOGIN AUSTRALIA FREE

DILIGENT BOARDS LOGIN AUSTRALIA UPDATE

Diligent boards login australia