Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Enphase Energy reported its financial results for the second quarter of 2025, which details a mix of positive developments and challenges ahead.</li><li>The revenue for the quarter was $363.2 million, reflecting a continuation of momentum, though the company did experience a slight increase in microinverter channel inventory levels.</li><li>The company shipped 1.53 million microinverters and 190.9 MWh of batteries, coupled with a notable gross margin of 49%, although impacted by a 2% margin hit due to tariffs.</li></ul>

Enphase Energy reported its financial results for the second quarter of 2025, which details a mix of positive developments and challenges ahead.The revenue for the quarter was $363.2 million, reflecting a continuation of momentum, though the company did experience a slight increase in microinverter channel inventory levels.The company shipped 1.53 million microinverters and 190.9 MWh of batteries, coupled with a notable gross margin of 49%, although impacted by a 2% margin hit due to tariffs.

Enphase Energy: Enhancing TPO Partnerships & Creative Financing Structures to Capture Broader Parts Of The Market!

<ul><li>Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million.</li><li>This marked a decline from the previous quarter, largely attributed to typical seasonal patterns and reduced customer demand in the U.S., aggravated by financial challenges faced by a national lease provider.</li><li>Of this revenue, approximately $54 million was attributed to safe harbor agreements.</li></ul>

Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million.This marked a decline from the previous quarter, largely attributed to typical seasonal patterns and reduced customer demand in the U.S., aggravated by financial challenges faced by a national lease provider.Of this revenue, approximately $54 million was attributed to safe harbor agreements.

Enphase Energy: Is Its Focus On Increasing Battery Efficiency and Cost Reduction Paying Off?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Interactive Brokers Group, Inc / Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.</li>
<li>We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.
We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

<ul><li>Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and challenges.</li><li>Enphase reported quarterly revenue of $382.7 million and shipped approximately 2 million microinverters and 152 megawatt-hours of batteries.</li><li>These figures reflect strong sales, particularly of microinverters, although battery sales saw a decrease compared to the previous quarter.</li></ul>

Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and challenges.Enphase reported quarterly revenue of $382.7 million and shipped approximately 2 million microinverters and 152 megawatt-hours of batteries.These figures reflect strong sales, particularly of microinverters, although battery sales saw a decrease compared to the previous quarter.

Enphase Energy: Advancements in Inverter Technology to Reinforce A Robust Market Position!

<ul><li>Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's strategic maneuvers and market dynamics.</li><li>During this period, Enphase reported a robust revenue of $380.9 million, underscoring a shipment of approximately 1.7 million microinverters and 172.9 megawatt hours of batteries.</li><li>This has contributed to a free cash flow generation of $161.6 million.</li></ul>

Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's strategic maneuvers and market dynamics.During this period, Enphase reported a robust revenue of $380.9 million, underscoring a shipment of approximately 1.7 million microinverters and 172.9 megawatt hours of batteries.This has contributed to a free cash flow generation of $161.6 million.

Enphase Energy Inc.: Enhanced Product Offerings & Cost Reductions Can Lead To Margin Expansion! - Major Drivers

United States

Enphase Energy Inc. manufactures solar power solutions. The Company offers solutions to increase productivity and reliability of solar modules.

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Enphase Energy (ENPH US)

Enphase Energy: Enhancing TPO Partnerships & Creative Financing Structures to Capture Broader Parts Of The Market!

Enphase Energy reported its financial results for the second quarter of 2025, which details a mix of positive developments and challenges...

Baptista Research

Enphase Energy: Is Its Focus On Increasing Battery Efficiency and Cost Reduction Paying Off?

Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million. This marked a decline from...

Baptista Research

[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

We expect IBKR and possibly APP to join the S&P500 in September. We expect two deletes. MSTR has moved to second place BUT it has issues which...

Travis Lundy

Enphase Energy: Advancements in Inverter Technology to Reinforce A Robust Market Position!

Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and...

Baptista Research

Enphase Energy Inc.: Enhanced Product Offerings & Cost Reductions Can Lead To Margin Expansion! - Major Drivers

Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's...

Baptista Research

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