Enphase Energy, Inc.ENPHNASDAQ
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R&D Expenses Over TimeStrong
Percentile Rank86
3Y CAGR+3.8%
5Y CAGR+27.6%
Studio
Year-over-Year Change

Research and development spending

3Y CAGR
+3.8%/yr
vs +50.9%/yr prior
5Y CAGR
+27.6%/yr
Recent deceleration
Acceleration
-47.0pp
Decelerating
Percentile
P86
Within normal range
vs 5Y Ago
3.4x
Strong expansion
Streak
2 yr
Consecutive declineStrong
PeriodValueYoY Change
2025$189.07M-6.1%
2024$201.31M-11.4%
2023$227.34M+34.6%
2022$168.85M+60.0%
2021$105.53M+88.7%
2020$55.92M+38.5%
2019$40.38M+23.9%
2018$32.59M-1.7%
2017$33.16M-34.6%
2016$50.70M-