Form 8-K Filing - Enphase Energy, Inc.

Enphase Energy, Inc. reported on March 31, 2026, that it entered into a Tax Credit Transfer Agreement with a financial institution to sell $235,000,000 of advanced manufacturing production tax credits generated in 2025. The sale price was $218,550,000, resulting in a discount of approximately $16.5 million, plus $2.5 million in transaction fees. These amounts are expected to be excluded from non-GAAP financial measures for Q1 2026 but will reduce the GAAP gross margin by approximately 6.7 percentage points compared to prior guidance. The company also referenced its Q1 2026 GAAP gross margin expectations in relation to prior guidance.