Enphase Energy Inc Rises on beat and Guidance
Earnings beat and good guidance
Total revenue for the fourth quarter of 2019 was $210 million, including approximately $36.4 million of safe harbor revenue. Total revenue for the fourth quarter of 2019 increased 17% sequentially and increased 128% year-over-year. We shipped approximately 677 megawatts DC in the fourth quarter of 2019, an increase in megawatts this year of 16% sequentially. The megawatts shipped represented approximately 2.1 million microinverters.
Non-GAAP gross margin for the fourth quarter of 2019 was 37.3% compared to 36.2% for the third quarter of 2019. Expedite fees are now normalized within our expected range, and therefore, did not have an abnormal impact in gross margin. Our component supply is stable and, as a result, we will no longer quantify this expense if it is within the normal course of business.
Non-GAAP operating expenses were $26.1 million for the fourth quarter of 2019 compared to $25 million for the third quarter of 2019. GAAP operating expenses were $33.4 million for the fourth quarter of 2019 compared to $31 million for the third quarter of 2019. GAAP operating expenses for the fourth quarter of 2019 included $5.6 million of stock-based compensation expenses, $545,000 of amortization expenses for acquired intangible assets, and $1.1 million of restructuring expenses. Our restructuring program was completed at the end of 2019, and at this time, we do not anticipate any further or future expenses related to restructuring.
On a non-GAAP basis, income from operations was $52.3 million for the fourth quarter of 2019 compared to $40.2 million for the third quarter of 2019. On a GAAP basis, income from operations was $44.4 million for the fourth quarter of 2019. This increase in operating income is reflective of the strong demand of our products, and our focus on cost reduction and expense management.
Total revenue for the fourth quarter of 2019 was $210 million, including approximately $36.4 million of safe harbor revenue. Total revenue for the fourth quarter of 2019 increased 17% sequentially and increased 128% year-over-year. We shipped approximately 677 megawatts DC in the fourth quarter of 2019, an increase in megawatts this year of 16% sequentially. The megawatts shipped represented approximately 2.1 million microinverters.
Non-GAAP gross margin for the fourth quarter of 2019 was 37.3% compared to 36.2% for the third quarter of 2019. Expedite fees are now normalized within our expected range, and therefore, did not have an abnormal impact in gross margin. Our component supply is stable and, as a result, we will no longer quantify this expense if it is within the normal course of business.
Non-GAAP operating expenses were $26.1 million for the fourth quarter of 2019 compared to $25 million for the third quarter of 2019. GAAP operating expenses were $33.4 million for the fourth quarter of 2019 compared to $31 million for the third quarter of 2019. GAAP operating expenses for the fourth quarter of 2019 included $5.6 million of stock-based compensation expenses, $545,000 of amortization expenses for acquired intangible assets, and $1.1 million of restructuring expenses. Our restructuring program was completed at the end of 2019, and at this time, we do not anticipate any further or future expenses related to restructuring.
On a non-GAAP basis, income from operations was $52.3 million for the fourth quarter of 2019 compared to $40.2 million for the third quarter of 2019. On a GAAP basis, income from operations was $44.4 million for the fourth quarter of 2019. This increase in operating income is reflective of the strong demand of our products, and our focus on cost reduction and expense management.
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