Enphase (ENPH) r&d spend was $189M in FY2025 (-6% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$189M
-6%
2024
$201M
-11%
2023
$227M
+35%
2022
$169M
+60%
2021
$106M
+89%
2020
$56M
+38%
2019
$40M
+24%
2018
$33M
-2%
2017
$33M
-35%
2016
$51M
-0%
2015
$51M
+12%
2014
$45M
+31%
2013
$35M
-3%
2012
$36M
+42%
2011
$25M
+76%
2010
$14M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q1 2026
$45M
Q4 2025
$46M
Q3 2025
$47M
Q2 2025
$45M
Q1 2025
$50M
Q4 2024
$50M
Q3 2024
$48M
Q2 2024
$49M
Q1 2024
$54M
Q4 2023
$55M
Q3 2023
$55M
Q2 2023
$60M
Source: ENPH on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.