Enphase Energy sees ‘larger than normal seasonal decline’ in Q1

On the company’s Q3 earnings conference call, management said it doesn’t typically guide beyond the next quarter, but was sharing preliminary views into Q1 of 2026 to “frame expectations.” Management said “we anticipate a a larger than normal seasonal decline” following the expiration of 25D tax credit and estimate a company revenue of $250M,” adding, “we view Q1 as a cycle trough with conditions improving the rest of the year.”