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We think Q1 could be the bottom quarter. Europe is already showing early signs of recovery, and we expect the non-California states to bounce back quickly.
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2023 Q4
9 Feb 24
We expect to do a much reduced level of under shipment in Q2. We don't expect to do $130 million in Q2.
We expect to be much reduced level.
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2023 Q4
9 Feb 24
I did say we could normalize in Q2
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2023 Q4
9 Feb 24
I said we do expect to undership in both Q4 as well as Q1
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2023 Q4
9 Feb 24
in the October call
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2023 Q4
9 Feb 24
We are forecasting to undership in Q2 as well, although at a much reduced level, and expect the channel to be normalized by the end of Q2.
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2023 Q4
9 Feb 24
In Europe, our revenue decreased 70% sequentially as we undership to the end customer demand. The overall sell-through of our microinverters and batteries in Europe was down 20% in Q4 compared to Q3. The sell-through of our microinverters was down 23%, and sell-through of batteries was down 2% in Q4 compared to Q3.
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2023 Q4
9 Feb 24
the sell-through of our batteries increased by 58% in Q4 due to the high attach rate of NEM 3.0 systems
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2023 Q4
9 Feb 24
In California, our overall sell-through was down by 7% in Q4 compared to Q3. The sell-through of our microinverters was down 27% in Q4 primarily due to the NEM [ 3.0 ] transition.
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2023 Q4
9 Feb 24
In the U.S., our revenue decreased 35% sequentially as we undershipped to the end customer demand. The overall sell-through of our micro inverters and batteries in the U.S. was down 9% in Q4 compared to Q3.
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2023 Q4
9 Feb 24
We expect that our shipments from U.S. facilities will be lower in the first half of the year as we reduce both factory as well as channel inventory. We anticipate a higher level of shipments in the second half of the year.
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2023 Q4
9 Feb 24
On our last earnings call, we said we would reduce channel inventory by approximately $150 million. We achieved a reduction of $147 million in Q4.
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2023 Q4
9 Feb 24
shipped approximately 1.6 million microinverters and 80.7 megawatt hours of battery
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2023 Q4
9 Feb 24
We see several positive drivers that will accelerate adoption, such as the 30% ITC tax credit in the U.S., rising utility rates globally, increased grid instability, also globally, climate change and, of course, increasing EV adoption worldwide.
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2023 Q3
28 Dec 23
We shipped over 3,500 chargers in Q3 compared to over 6,600 chargers in Q2.
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2023 Q3
28 Dec 23
EV charging
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2023 Q3
28 Dec 23
IQ8 [ P ] Microinverter, our highest power microinverter till date, 480 watts of AC power, that can support solar panels up to 650-watt DC
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2023 Q3
28 Dec 23
We plan to enter many more new markets in Europe and Asia in the next several months.
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2023 Q3
28 Dec 23
With our IQ Battery 5P, we can deliver the best power specs and the best commissioning times of any Enphase battery
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2023 Q3
28 Dec 23
In Germany, our Q3 sell-through was down 32% compared to Q2.
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2023 Q3
28 Dec 23