Just some numbers.
I thought Enphase’s last earning report was very good. People missed the part where they said they were completely booked for the next quarter and thought because of the new law in California that they will be slowing down in the United States since California is 20 percent of their Revenue. But just because California is 20 percent of their Revenue doesn’t mean that they will not sell every bit of their product that they can. They are building out more production so that they can sell more.
From the conference call:
Badri Kothandaraman
Let’s discuss our overall company outlook for Q1. We expect our Q1 revenue for the company to be within a range of $700 million to $740 million. We are fully booked for Q1 right now. Let me provide some additional information on the key regions, first about Europe, then about the U.S. Our Europe business is doing very – is very strong as I noted. Note that we also doubled our revenue from 2020 to 2021 and more than doubled again from ‘21 to ‘22. We have a strong team in place and are quite bullish about 2023. We expect to introduce IQ batteries and IQ8 microinverters into many more countries in Europe as we progress through the year. Our value proposition is our differentiated home energy management systems, combined with high quality and great customer experience. As for Q1, we expect healthy growth compared to Q4, consistent with the overall growth in the European market.
Andy