No phantom power, I have also noticed the drop occasionally when using a powered speaker at home rehearsing but at that time the volume would just drop slightly. I only have a few presets made right now that I have memorized, I will do a reset and see if it clears up. My band has progressively been going direct so I thought I would try the helix, if I can’t sort it out I will go back to an amp. When it works it sounds great, when it doesn’t it kills the gig. I normally have a pod pro for a backup but my other guitar player has been using it since I switched to the helix. I’ll put an amp and fx rack back in the trailer going forward.