Enphase news: Founder CEO out after 2Q earnings report

[sunbeagle]

CEO Paul Nahi resigned. Revenue up to $75 million but they still lost $12 million. Revenue next quarter is expected to be $72-80 million - not good, down ~$10 million from Q3 2016. They chopped operating expenses a good bit from Q1 but expected flat in Q3. With restructuring and other expenses how do they not lose another $12 million in Q3? Something's gotta give.

https://www.pv-tech.org/news/enphases-microinverter-shipments-rebound-in-q2

http://solarindustrymag.com/enphase-energy-ceo-paul-nahi-resigns

[tyab]

About time he got the axe. Great engineer does not make one a good CEO.

[sunbeagle]

Listening to the call they sold 193MW AC in micros, 775,000 in number, dividing into each other is about 250W. They say 20% were IQ micros. Looks to me they likely sold off all their old M250s for cheap to installers and wholesalers while not making any new ones to reduce inventory and save cash. 20% IQ line isn't very impressive. They didn't give any future #s for AC module sales which include those IQs.