Earnings GuidanceENPH missed Q1 revenue estimates with a result of $263MM compared to the expected $277MM, indicating a need for another round of estimate cuts.
Financial PerformanceDSO increased to 151 days, up 62 days q/q vs 89 days in Q3 despite a 20% drop in $ value, likely due to a sharper drop in revenues and continued channel partner stress.
Market ChallengesIn California, sales dropped by 30% q/q primarily due to challenges posed by NEM 3.0 reimbursement rates, with other US states declining by 21%.