• Enphase Energy average gross margin for 2023 was 44.52%, a 9.25% increase from 2022.
• Enphase Energy average gross margin for 2022 was 40.75%, a 4.21% increase from 2021.
• Enphase Energy average gross margin for 2021 was 42.54%, a 5.69% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.