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e ENPHASE . Enphase Energy Reports Financial Results for the Second Quarter of 2021 FREMONT , Calif . , July 27 , 2021 - Enphase Energy , Inc. ( NASDAQ : ENPH ) , a global energy management technology company and the world's leading supplier of microinverter - based solar - plus - storage systems , announced today financial results for the second quarter of 2021 , which included the summary below from its President and CEO , Badri Kothandaraman . We reported quarterly revenue of $ 316.1 million in the second quarter of 2021 , along with 40.8 % for non - GAAP gross margin . We shipped approximately 2,362,401 microinverters , or 796 megawatts DC , and 43 megawatt hours of Enphase Storage systems . Financial highlights for the second quarter of 2021 are listed below . Revenue of $ 316.1 million GAAP gross margin of 40.4 % ; non - GAAP gross margin of 40.8 % GAAP operating income of $ 59.4 million ; non - GAAP operating income of $ 77.2 million GAAP net income of $ 39.4 million , non - GAAP net income of $ 74.7 million GAAP diluted earnings per share of $ 0.28 ; non - GAAP diluted earnings per share of $ 0.53 Cash flow from operations of $ 65.6 million Ending cash balance of $ 1.3 billion , net of $ 200.0 million of common stock repurchases in May 2021 Our revenue and earnings for the second quarter of 2021 are provided below , compared with those of the prior quarter and the year ago quarter : ( In thousands , except per share data and percentages ) Revenue Gross margin Operating expenses Operating income Net income ( loss ) Basic EPS Diluted EPS GAAP Q1 2021 $ 301,754 Q2 2021 Q2 2020 $ 316,057 $ 125,538 40.4 % 40.7 % 38.5 % $ 68,401 $ 61,563 $ 37,533 $ 59,400 $ 61,386 $ 10,854 $ 39,351 $ 31,698 $ ( 47,294 ) $ 0.29 $ 0.24 $ ( 0.38 ) $ 0.28 $ 0.22 $ ( 0.38 ) $ $ $ $ $ Non - GAAP Q1 2021 $ 301,754 41.1 % $ Q2 2021 $ 316,057 40.8 % 51,696 $ 43,699 77,165 $ 80,232 $ 74,676 $ 78,702 $ 0.55 $ 0.60 $ 0.53 $ 0.56 $ 0.17 26,024 23,700 23,549 0.19 1 Q2 2020 $ 125,538 39.6 % Total revenue increased 5 % compared to the first quarter of 2021. Demand for our microinverter systems remained well ahead of supply in the second quarter of 2021 , as component av continued to be constrained . Our operations team did an excellent job of navigating these component supply constraints to best service our customer demand , while our sales team focused on managing the channel and working closely with our installers and distributors .