Latest news with #ShukiNir
Business Wire
27-05-2025
- Business
- Business Wire
SolarEdge Releases 2024 Sustainability Report, Highlighting Contributions Towards Meeting the Global Energy Demand Through Smarter, Safer, and more Efficient Technology
MILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. ('SolarEdge' or the 'Company') (NASDAQ: SEDG), a global leader in smart energy technology, today announced the release of its 2024 Sustainability Report, detailing the progress made in the Company's sustainability strategy and representing its commitment to accountability and transparency to stakeholders. SolarEdge announces the release of its 2024 Sustainability Report, detailing the progress made in the Company's sustainability strategy and representing its commitment to accountability and transparency to stakeholders. Shuki Nir, Chief Executive Officer of SolarEdge: 'I am pleased to share our 2024 Sustainability Report, which reaffirms SolarEdge's long-term commitment to sustainable and responsible practices amid evolving industry dynamics. As global energy demand continues to rise, our advanced technologies are well positioned to support smarter, safer, and more efficient electricity use.' Some of the key highlights from the 2024 Sustainability Report include: Over 3.7 million homes are equipped with SolarEdge PV systems. Over 50% of Fortune 100 companies have SolarEdge technology on at least one of their rooftops. For the second straight year, SolarEdge was included in the 2025 Corporate Knights list of the top 100 sustainable corporations in the world. EcoVadis awarded SolarEdge with a 'Silver Medal' sustainability rating, placing the company in the top 15% of over 130,000 globally rated companies. ISS ESG rating among top 10% of highest rated companies in the Electronic Components sector. MSCI ESG Rating of A. Upper-tier scores in additional ESG ranking, full details here. 100% of manufacturing and R&D sites are certified to ISO standards for quality, environmental and safety management. Environmental Life Cycle Analysis (LCA) research completed for several key products. 10,000 Pupils taught EDGEUcate classes by SolarEdge employees, gaining knowledge of solar energy and sustainable practices. View SolarEdge's full 2024 Sustainability Report About SolarEdge SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, and grid services solutions. SolarEdge is online at
Yahoo
27-05-2025
- Business
- Yahoo
SolarEdge Releases 2024 Sustainability Report, Highlighting Contributions Towards Meeting the Global Energy Demand Through Smarter, Safer, and more Efficient Technology
By the end of 2024, over 3.7 million homes were equipped with SolarEdge PV systems; Over 50% of Fortune 100 Companies have SolarEdge Technology on their Rooftops MILPITAS, Calif., May 27, 2025--(BUSINESS WIRE)--SolarEdge Technologies, Inc. ("SolarEdge" or the "Company") (NASDAQ: SEDG), a global leader in smart energy technology, today announced the release of its 2024 Sustainability Report, detailing the progress made in the Company's sustainability strategy and representing its commitment to accountability and transparency to stakeholders. Shuki Nir, Chief Executive Officer of SolarEdge: "I am pleased to share our 2024 Sustainability Report, which reaffirms SolarEdge's long-term commitment to sustainable and responsible practices amid evolving industry dynamics. As global energy demand continues to rise, our advanced technologies are well positioned to support smarter, safer, and more efficient electricity use." Some of the key highlights from the 2024 Sustainability Report include: Over 3.7 million homes are equipped with SolarEdge PV systems. Over 50% of Fortune 100 companies have SolarEdge technology on at least one of their rooftops. For the second straight year, SolarEdge was included in the 2025 Corporate Knights list of the top 100 sustainable corporations in the world. EcoVadis awarded SolarEdge with a 'Silver Medal' sustainability rating, placing the company in the top 15% of over 130,000 globally rated companies. ISS ESG rating among top 10% of highest rated companies in the Electronic Components sector. MSCI ESG Rating of A. Upper-tier scores in additional ESG ranking, full details here. 100% of manufacturing and R&D sites are certified to ISO standards for quality, environmental and safety management. Environmental Life Cycle Analysis (LCA) research completed for several key products. 10,000 Pupils taught EDGEUcate classes by SolarEdge employees, gaining knowledge of solar energy and sustainable practices. View SolarEdge's full 2024 Sustainability Report About SolarEdge SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, and grid services solutions. SolarEdge is online at View source version on Contacts PR Contact Lily SalkinHead of Public and Media Investor Contact JB LoweHead of Investor Relationsinvestors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Why SolarEdge Technologies Stock Is Shining Today
Key Points SolarEdge Technologies' stock soared after topping Wall Street's earnings and revenue expectations. Management also gave upbeat guidance for the next quarter, forecasting stronger revenue and margins. This could be a shareholder-friendly turnaround story. Shares of SolarEdge Technologies (NASDAQ: SEDG) caught a welcome ray of sunlight on Tuesday. The stock jumped as much as 20.3% higher in the morning session, backing down to a still-impressive gain of 16% at noon ET today. The maker of power management systems used in solar power installations crushed Wall Street's expectations in this morning's first-quarter report. SolarEdge beat the Street in Q1 2025 Your average analyst expected SolarEdge to report an adjusted net loss of $1.16 per share, based on revenue in the neighborhood of $204.2 million. It was a gloomy forecast, but the actual figures told a different story. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Sales rose 12% year over year to $219.5 million. The adjusted loss stopped at $1.14 per share, compared to a $3.52 loss per share in the year-ago period. Management's guidance for the next quarter also came in well above the current analyst view. Revenue should land near $275 million, up from $265 million in the second quarter of 2024. The consensus analyst projection points to $243.7 million. Gross margins should also increase while operating expenses are trending downward. At the midpoint of the suggested guidance ranges, SolarEdge's loss from operations would decrease from $102.7 million in the first quarter to $65 million in the next report. Image source: Getty Images. How SolarEdge is finding its sunny side again CEO Shuki Nir admitted that the economy is unpredictable right now but still insisted that SolarEdge's turnaround effort will continue paying off in the second quarter. The company is winning back market share in key segments such as residential rooftop solar and large commercial installations. It manufactures its power inverters in American factories, helping installers meet domestic content minimums to qualify for tax breaks. SolarEdge is also reshuffling its assets, collecting some easy cash by divesting unprofitable operations like the system-tracking service and a Korea-based battery factory. This may not be the most promising economy ever for solar power experts, but I like what management is doing. Turnarounds are never easy, and many things can go wrong along the way. Still, this report makes me a little more confident in its ability to become profitable again. And don't forget that the stock is trading 75% below its yearly highs, even after Tuesday's big jump.
Yahoo
06-05-2025
- Business
- Yahoo
SolarEdge (NASDAQ:SEDG) Delivers Impressive Q1, Stock Jumps 14.2%
SolarEdge also discloses its number of megawatts shipped, which reached 1,208 in the latest quarter. Over the last two years, SolarEdge's megawatts shipped averaged 20.4% year-on-year declines. Because this number is higher than its revenue growth during the same period, we can see the company's monetization has fallen. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. SolarEdge's recent performance shows its demand remained suppressed as its revenue has declined by 48.1% annually over the last two years. SolarEdge isn't alone in its struggles as the Renewable Energy industry experienced a cyclical downturn, with many similar businesses observing lower sales at this time. A company's long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. SolarEdge's demand was weak over the last five years as its sales fell at a 10.4% annual rate. This wasn't a great result and suggests it's a low quality business. 'I am pleased with the steady progress we made on the SolarEdge turnaround this quarter,' said Shuki Nir, CEO of SolarEdge. Free Cash Flow was $23.71 million, up from -$243.4 million in the same quarter last year Is now the time to buy SolarEdge? Find out in our full research report . Solar power systems company SolarEdge (NASDAQ:SEDG) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 7.4% year on year to $219.5 million. On top of that, next quarter's revenue guidance ($275 million at the midpoint) was surprisingly good and 10.9% above what analysts were expecting. Its non-GAAP loss of $1.14 per share was 1.7% above analysts' consensus estimates. Story Continues SolarEdge Megawatts Shipped This quarter, SolarEdge reported year-on-year revenue growth of 7.4%, and its $219.5 million of revenue exceeded Wall Street's estimates by 7.3%. Company management is currently guiding for a 3.6% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 23.9% over the next 12 months, an improvement versus the last two years. This projection is eye-popping and indicates its newer products and services will spur better top-line performance. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Operating Margin Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. SolarEdge's high expenses have contributed to an average operating margin of negative 13.6% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. It's hard to trust that the business can endure a full cycle. Analyzing the trend in its profitability, SolarEdge's operating margin decreased significantly over the last five years. SolarEdge's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. SolarEdge Trailing 12-Month Operating Margin (GAAP) This quarter, SolarEdge generated a negative 46.8% operating margin. The company's consistent lack of profits raise a flag. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Sadly for SolarEdge, its EPS declined by 46.2% annually over the last five years, more than its revenue. This tells us the company struggled because its fixed cost base made it difficult to adjust to shrinking demand. SolarEdge Trailing 12-Month EPS (Non-GAAP) We can take a deeper look into SolarEdge's earnings to better understand the drivers of its performance. As we mentioned earlier, SolarEdge's operating margin improved this quarter but declined by 194.3 percentage points over the last five years. Its share count also grew by 11.4%, meaning the company not only became less efficient with its operating expenses but also diluted its shareholders. SolarEdge Diluted Shares Outstanding Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For SolarEdge, its two-year annual EPS declines of 122% show it's continued to underperform. These results were bad no matter how you slice the data. In Q1, SolarEdge reported EPS at negative $1.14, up from negative $2.12 in the same quarter last year. This print beat analysts' estimates by 1.7%. Over the next 12 months, Wall Street expects SolarEdge to improve its earnings losses. Analysts forecast its full-year EPS of negative $22.22 will advance to negative $2.08. Key Takeaways from SolarEdge's Q1 Results We were impressed by how significantly SolarEdge blew past analysts' EBITDA expectations this quarter. We were also excited its revenue outperformed Wall Street's estimates by a wide margin. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 14.2% to $14.76 immediately following the results. Indeed, SolarEdge had a rock-solid quarterly earnings result, but is this stock a good investment here? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
Business Wire
06-05-2025
- Business
- Business Wire
SolarEdge Announces First Quarter 2025 Financial Results
MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2025. 'I am pleased with the steady progress we made on the SolarEdge turnaround this quarter,' said Shuki Nir, CEO of SolarEdge. 'We delivered a second straight quarter of positive free cash flow and are executing on our strategic priorities. Despite an uncertain tariff and regulatory environment, we remain relentlessly focused on elevating our execution across our business.' First Quarter 2025 Summary The Company reported revenues of $219.5 million, up 12% from $196.2 million in the prior quarter. Non-GAAP revenues 2, which exclude $7.4 million of revenues related to discontinued operations, were $212.1 million. The Company shipped 1,208 MW (AC) of inverters and 180 MWh of batteries for PV applications. GAAP gross margin was 8.0% 1, compared to negative 57.2% 1 in the prior quarter. Non-GAAP gross margin 2 was 7.8%, compared to negative 39.5% 1 in the prior quarter. GAAP operating expenses were $120.3 million, compared to $151.4 1 million in the prior quarter. Non-GAAP operating expenses 2 were $89.1 million, compared to $106.8 million in the prior quarter. GAAP operating loss was $102.7 1 million, compared to $263.7 1 million in the prior quarter. Non-GAAP operating loss 2 was $72.4 million, compared to $184.1 1 million in the prior quarter. GAAP net loss was $98.5 1 million, compared to $287.4 1 million in the prior quarter. Non-GAAP net loss 2 was $66.1 million, compared to $202.5 1 million in the prior quarter. GAAP net loss per share was $1.70 1, compared to a GAAP net loss per share of $5.00 1 in the prior quarter. Non-GAAP net loss per share 2 was $1.14, compared to a Non-GAAP net loss per share of $3.52 1 in the prior quarter. Cash provided by operating activities was $33.8 million, compared with $37.8 million provided in the prior quarter. Free cash flow 2 generated, excluding cash flow from discontinued operations at our Kokam battery manufacturing business, was $19.8 million, compared with $25.5 generated in the prior quarter. As of March 31, 2025, cash, cash equivalents, restricted cash, bank deposits, restricted bank deposits and marketable securities totaled $113.2 million, net of debt, compared to $81.9 million as of December 31, 2024. Outlook for the Second Quarter 2025 The Company also provides guidance for the second quarter ending June 30, 2025 as follows: Revenues to be within the range of $265 million to $285 million; Non-GAAP gross margin* expected to be within the range of 8% to 12%, including approximately two percentage points of new tariff impact; Non-GAAP operating expenses* to be within the range of $90 million to $95 million. * Non-GAAP gross margin and Non-GAAP operating expenses are non-GAAP financial measures, and these forward-looking measures have not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Non-GAAP gross margin and Non-GAAP operating expenses are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the SEC. Conference Call The Company will host a conference call to discuss its results for the first quarter ended March 31, 2025 at 8:00 a.m. ET on Tuesday, May 6, 2025. The call will be available, live, to interested parties by dialing +1 800-579-2543. For international callers, please dial +1 785-424-1789. The Conference ID is SEDG. To avoid a delay in connecting to the call, please dial in 10 minutes prior to the start time. A live webcast will also be available in the Investors Relations section of the Company's website at: A replay of the webcast will be available in the Investor Relations section of the Company's web site approximately two hours after the conclusion of the call and will remain available for approximately 30 calendar days. About SolarEdge SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, and grid services solutions. SolarEdge is online at Use of Non-GAAP Financial Measures To provide investors and others with additional information regarding SolarEdge's results, SolarEdge has disclosed in this earnings release the following non-GAAP financial measures: non-GAAP revenue, non-GAAP operating income (loss), non-GAAP operating expenses, non-GAAP gross margin, non-GAAP net income (loss), non-GAAP net earnings (loss) per share, and non-GAAP net free cash flow. SolarEdge has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure below. These non-GAAP financial measures differ from GAAP in that they exclude stock-based compensation, amortization and impairment of acquired intangible assets, restructuring and impairment charges, acquisition, disposition and other items, certain litigation and other contingencies, amortization of debt issuance cost, non-cash interest expense and non-cash revenue recognized from significant financing component, certain foreign currency exchange rates, gains and losses on investments, income and losses from equity method investments and discrete items that impacted our GAAP tax rate. Our non-GAAP financial measures also reflect the application of our non-GAAP tax rate. SolarEdge's management uses these non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, to calculate bonus payments and to evaluate SolarEdge's financial performance, the performance of its individual functional groups and the ability of operations to generate cash. Management believes these non-GAAP financial measures reflect SolarEdge's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in SolarEdge's business, as they exclude charges and gains that are not reflective of ongoing operating results. Management also believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating SolarEdge's operating results and future prospects from the same perspective as management and in comparing financial results across accounting periods. The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense that affect SolarEdge's operations. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP and should not be considered measures of SolarEdge's liquidity. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Management encourages investors and others to review SolarEdge's financial information in its entirety and not rely on a single financial measure. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements contained in this press release contains may contain forward-looking statements that are based on our management's expectations, estimates, projections, beliefs and assumptions in accordance with information currently available to our management. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include information, among other things, concerning our possible or assumed future results of operations, return to positive free cash flow generation, future demands for solar energy solutions, business strategies, technology developments, new products and services, financing and investment plans; dividend policy; competitive position, industry and regulatory environment, general economic conditions; potential growth opportunities; cancellations and pushouts of existing backlog; installation rates; goodwill impairment; and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as 'anticipate,' 'believe,' 'could,' 'seek,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would' or similar expressions and the negatives of those terms. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date of this release. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: future demand for renewable energy including solar energy solutions; our ability to maintain a return to free cash flow positive generation; our ability to forecast demand for our products accurately and to match production to such demand as well as our customers' ability to forecast demand based on inventory levels; changes in tax laws, tax treaties, and regulations or the interpretation of them, including the Inflation Reduction Act; changes in the U.S. or global trade environment, including the recent imposition of import tariffs by the U.S. and any future increase in such tariffs and/or subsequent retaliatory tariffs or other restrictive trade measures that other countries have taken or may take in response; our ability to estimate the impact of tariffs on our operations; our ability to successfully operate our global operations with a reduced work force; macroeconomic conditions in our domestic and international markets, as well as inflation concerns, rising interest rates, and recessionary concerns; changes, elimination or expiration of government subsidies and economic incentives for on-grid solar energy applications; the retail price of electricity derived from the utility grid or alternative energy sources; interest rates and supply of capital in the global financial markets in general and in the solar market specifically; competition, including introductions of power optimizer, inverter and solar photovoltaic system monitoring products by our competitors; developments in alternative technologies or improvements in distributed solar energy generation; historic cyclicality of the solar industry and periodic downturns; product quality or performance problems in our products; shortages, delays, price changes, or cessation of operations or production affecting our suppliers of key components; our dependence upon a small number of outside contract manufacturers and limited or single source suppliers; changes to net metering policies or the reduction, elimination or expiration of government subsidies and economic incentives for on-grid solar energy applications; capacity constraints, delivery schedules, manufacturing yields, and costs of our contract manufacturers and availability of components; performance of distributors and large installers in selling our products; consolidation in the solar industry among our customers and distributors; our ability to effectively manage changes in our organization and expansion into new markets; our ability to recognize expected benefits from restructuring plans; any unauthorized access to, disclosure, or theft of personal information or unauthorized access to our network or other similar cyber incidents; our ability to implement our new ERP system; our ability to integrate acquired businesses; disruption to our business operations due to the evolving state of war in Israel and political conditions related to the Israeli government's plans to significantly reduce the Israeli Supreme Court's judicial oversight; our dependence on ocean transportation to timely deliver our products in a cost-effective manner; fluctuations in global currency exchange rates; the impact of evolving legal and regulatory requirements, including emerging corporate social responsibility and sustainability requirements; existing and future responses to and effects of pandemics, epidemics or other health crises; federal, state, and local regulations governing the electric utility industry with respect to solar energy; business practices and regulatory compliance of our raw material suppliers; our ability to maintain our brand and to protect and defend our intellectual property; volatility of our stock price; our customers' financial stability, creditworthiness, and debt leverage ratio; our ability to effectively design, launch, market, and sell new generations of our products and services; our ability to retain, and events affecting, our major customers; our ability to service our debt; impairment of our goodwill or other long-lived and intangible assets; our liquidity and ability to service our debt; and the other factors set forth under 'Item 1A. Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024, filed on February 25, 2025, in subsequent Quarterly Reports on Form 10Q and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Statements in this press release speak only as of the date they were made. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release, whether as a result of new information, future events or changes in its expectations or otherwise, except as may be required by applicable law, regulation or other competent legal authority. SOLAREDGE TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) March 31, 2 025 2 024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 401,364 $ 274,611 Restricted cash 104,459 135,328 Marketable securities 250,267 311,279 Trade receivables, net of allowances of $35,970 and $43,038, respectively 132,577 160,423 Inventories, net 636,597 645,897 Prepaid expenses and other current assets 464,419 523,027 Total current assets 1,989,683 2,050,565 LONG-TERM ASSETS: Marketable securities 34,051 42,597 Property, plant and equipment, net 339,824 343,438 Operating lease right-of-use assets, net 48,639 41,393 Intangible assets, net 8,874 9,666 Goodwill 48,626 48,380 Loan receivables, net — 45,678 Other long-term assets 55,476 64,736 Total long-term assets 535,490 595,888 Total assets 2,525,173 2,646,453 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 135,435 $ 107,543 Employees and payroll accruals 76,360 76,292 Warranty obligations 125,172 140,249 Deferred revenues and customers advances 76,491 140,870 Accrued expenses and other current liabilities 219,496 246,078 Convertible senior notes, net 341,472 346,305 Total current liabilities 974,426 1,057,337 LONG-TERM LIABILITIES: Convertible senior notes, net 330,389 330,006 Warranty obligations 287,530 292,116 Deferred revenues 243,649 231,049 Finance lease liabilities 37,862 39,159 Operating lease liabilities 33,325 30,018 Other long-term liabilities 23,779 8,426 Total long-term liabilities 956,534 930,774 COMMITMENTS AND CONTINGENT LIABILITIES STOCKHOLDERS' EQUITY: Common stock of $0.0001 par value - Authorized: 125,000,000 shares; issued: 59,043,817 shares on March 31, 2025 and 58,780,490 shares on December 31, 2024; outstanding: 58,290,453 shares on March 31, 2025 and 58,027,126 shares on December 31, 2024. 6 6 Additional paid-in capital 1,845,719 1,813,198 Treasury stock, at cost; 753,364 shares held (50,194 ) (50,194 ) Accumulated other comprehensive loss (74,604 ) (76,477 ) Accumulated deficit (1,126,714 ) (1,028,191 ) Total stockholders' equity 594,213 658,342 Total liabilities and stockholders' equity $ 2,525,173 $ 2,646,453 Expand SOLAREDGE TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, except per share data) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (98,523 ) $ (157,311 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 12,001 14,988 Stock-based compensation expenses 31,426 37,606 Deferred income taxes, net (1,029 ) (41,847 ) Loss (gain) from exchange rate fluctuations (2,930 ) 7,799 Other items 2,271 4,371 Changes in assets and liabilities: Trade receivables, net 29,247 210,376 Inventories, net 12,285 (105,810 ) Prepaid expenses and other assets 100,361 52,187 Operating lease right-of-use assets, net 3,659 5,255 Trade payables 30,275 (215,120 ) Warranty obligations (19,745 ) (15,582 ) Deferred revenues and customers advances (51,970 ) (523 ) Operating lease liabilities (3,571 ) (5,219 ) Accrued expenses and other liabilities (9,934 ) (8,189 ) Net cash provided by (used in) operating activities 33,823 (217,019 ) Cash flows from investing activities: Investment in available-for-sale marketable securities (72,465 ) (129,221 ) Proceeds from maturities of available-for-sale marketable securities 142,931 319,605 Purchase of property, plant and equipment (10,109 ) (26,347 ) Repayment related to governmental grant (6,643 ) — Disbursements for loans receivables — (7,500 ) Investment in privately-held companies — (8,831 ) Proceeds from loan receivables 13,653 1,625 Other investing activities 230 (323 ) Net cash provided by investing activities 67,597 149,008 Cash flows from financing activities: Repurchase of common stock — (33,222 ) Payments on account of repurchase of common stock — (16,778 ) Repurchase of convertible debt (5,093 ) — Other financing activities (1,144 ) (987 ) Net cash used in financing activities (6,237 ) (50,987 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash 701 (5,241 ) Increase (decrease) in cash, cash equivalents and restricted cash 95,884 (124,239 ) Cash, cash equivalents and restricted cash, beginning of period 409,939 338,468 Cash, cash equivalents and restricted cash, end of period $ 505,823 $ 214,229 Expand SOLAREDGE TECHNOLOGIES INC. (in thousands, except per share data and percentages) Three months ended Year ended Gross profit (loss) (GAAP) $ 17,536 $ (112,254 ) $ (727,794 ) $ (10,969 ) $ (26,187 ) $ (877,204 ) $ 703,823 $ 844,648 Revenues from finance component (264 ) (254 ) (250 ) (246 ) (234 ) (984 ) (834 ) (614 ) Discontinued operation revenues (7,098 ) — — — — — — — Discontinued operation cost of revenues 792 26,118 (6 ) (757 ) (434 ) 24,921 36,648 4,314 Stock-based compensation 4,372 3,727 6,039 6,218 5,968 21,952 23,200 21,818 Amortization of stock-based compensation capitalized in inventories 381 1,095 1,484 362 197 3,138 1,100 — Amortization and depreciation of acquired asset 491 484 2,034 1,343 1,551 5,412 6,038 7,429 Restructuring charges 430 3,770 1,216 4,519 5,822 15,327 23,154 — Gross profit (loss) (Non-GAAP) $ 16,640 $ (77,314 ) $ (717,277 ) $ 470 $ (13,317 ) $ (807,438 ) $ 793,129 $ 877,595 Gross margin (loss) (GAAP) 8.0 % (57.2 )% (309.1 )% (4.1 )% (12.8 )% (97.3 )% 23.6 % 27.2 % Revenues from finance component 0.0 (0.1 ) (0.1 ) 0.0 (0.1 ) (0.1 ) 0.0 0.0 Discontinued operation revenues (3.2 ) — — — — — — — Discontinued operation cost of revenues 0.4 13.3 0.0 (0.3 ) (0.2 ) 2.8 1.2 0.1 Stock-based compensation 2.0 1.9 2.6 2.3 2.9 2.4 0.9 0.7 Amortization of stock-based compensation capitalized in inventories 0.2 0.6 0.6 0.1 0.1 0.3 0.0 — Amortization and depreciation of acquired asset 0.2 0.2 1.0 0.5 0.8 0.6 0.2 0.2 Restructuring charges 0.2 1.9 1.0 1.7 2.8 1.7 0.8 — Gross margin (loss) (Non-GAAP) 7.8 % (39.4 )% (304.0 )% 0.2 % (6.5 )% (89.6 )% 26.7 % 28.2 % Operating expenses (GAAP) $ 120,262 $ 151,413 $ 382,940 $ 149,213 $ 147,518 $ 831,084 $ 663,618 $ 678,528 Stock-based compensation - R&D (15,911 ) (10,653 ) (17,115 ) (17,639 ) (17,139 ) (62,546 ) (66,944 ) (63,211 ) Stock-based compensation - S&M (4,742 ) (4,452 ) (6,816 ) (8,149 ) (7,911 ) (27,328 ) (30,987 ) (31,017 ) Stock-based compensation - G&A (6,401 ) (5,600 ) (6,672 ) (6,565 ) (6,588 ) (25,425 ) (28,814 ) (29,493 ) Amortization and depreciation of acquired assets - R&D — (189 ) (270 ) (271 ) (270 ) (1,000 ) (989 ) (1,206 ) Amortization and depreciation of acquired assets - S&M (424 ) (442 ) (566 ) (467 ) (124 ) (1,599 ) (927 ) (822 ) Amortization and depreciation of acquired assets - G&A — — (2 ) (2 ) (2 ) (6 ) (15 ) (21 ) Discontinued operation (1,522 ) (3,350 ) 11 — 47 (3,293 ) (388 ) — Restructuring charges (2,613 ) — (1,299 ) (366 ) (3,943 ) (5,607 ) — — Assets impairment and disposal by abandonment (224 ) (17,989 ) (232,102 ) — (1,732 ) (251,823 ) (30,790 ) (119,141 ) Gain (loss) from assets sales 662 (1,910 ) (1,827 ) (951 ) (1,058 ) (5,746 ) 1,262 2,603 Certain litigation and other contingencies — — — — 399 399 (1,786 ) — Acquisition costs — — — — (9 ) (9 ) (135 ) (350 ) Operating expenses (Non-GAAP) $ 89,087 $ 106,828 $ 116,282 $ 114,803 $ 109,188 $ 447,101 $ 503,105 $ 435,870 Expand SOLAREDGE TECHNOLOGIES INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) Three months ended Year ended March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2 024 March 31, 2024 December 31, 2024 December 31, 2023 December 31, 2022 Operating income (loss) (GAAP) $ (102,726 ) $ (263,667 ) $ (1,110,734 ) $ (160,182 ) $ (173,705 ) $ (1,708,288 ) $ 40,205 $ 166,120 Revenues from finance component (264 ) (254 ) (250 ) (246 ) (234 ) (984 ) (834 ) (614 ) Discontinued operation (4,784 ) 29,468 (17 ) (757 ) (481 ) 28,214 37,036 4,314 Stock-based compensation 31,426 24,432 36,642 38,571 37,606 137,251 149,945 145,539 Amortization of stock-based compensation capitalized in inventories 381 1,095 1,484 362 197 3,138 1,100 — Amortization and depreciation of acquired assets 915 1,115 2,872 2,083 1,947 8,017 7,969 9,478 Restructuring charges 3,043 3,770 2,515 4,885 9,765 20,934 23,154 — Assets impairment and disposal by abandonment 224 17,989 232,102 — 1,732 251,823 30,790 119,141 Loss (gain) from assets sales (662 ) 1,910 1,827 951 1,058 5,746 (1,262 ) (2,603 ) Certain litigation and other contingencies — — — — (399 ) (399 ) 1,786 — Acquisition costs — — — — 9 9 135 350 Operating income (loss) (Non-GAAP) $ (72,447 ) $ (184,142 ) $ (833,559 ) $ (114,333 ) $ (122,505 ) $ (1,254,539 ) $ 290,024 $ 441,725 Financial income (expense), net (GAAP) $ 10,068 $ (12,199 ) $ 5,558 $ (865 ) $ (7,064 ) $ (14,570 ) $ 41,212 $ 3,750 Non cash interest expense 4,051 3,920 3,785 3,636 3,536 14,877 12,703 9,954 Unrealized losses — — — — — — — 119 Currency fluctuation related to lease standard (1,633 ) 1,089 966 (1,523 ) (1,276 ) (744 ) (3,055 ) (11,187 ) Discontinued operation (276 ) — — — — — — — Financial income (expense), net (Non-GAAP) $ 12,210 $ (7,190 ) $ 10,309 $ 1,248 $ (4,804 ) $ (437 ) $ 50,860 $ 2,636 Other income (loss) (GAAP) $ 148 $ (76 ) $ (3,928 ) $ 18,551 $ — $ 14,547 $ (318 ) $ 7,285 Loss (gain) from sale of equity and debt investments (2 ) 76 (1,072 ) (1,970 ) — (2,966 ) 193 (8,008 ) Gain from business combination — — — (1,125 ) — (1,125 ) — — Gain from the repurchase of convertible notes (146 ) — — (15,456 ) — (15,456 ) — — Loss from impairment of private held companies — — 5,000 — — 5,000 — — Other income (loss) (Non-GAAP) $ — $ — $ — $ — $ — $ — $ (125 ) $ (723 ) Income tax benefit (expense) (GAAP) $ (5,726 ) $ (11,041 ) $ (121,108 ) $ 12,245 $ 23,754 $ (96,150 ) $ (46,420 ) $ (83,376 ) Income tax adjustment (155 ) (176 ) 44,602 (357 ) (5,062 ) 39,007 (45,896 ) (9,067 ) Income tax benefit (expense) (Non-GAAP) $ (5,881 ) $ (11,217 ) $ (76,506 ) $ 11,888 $ 18,692 $ (57,143 ) $ (92,316 ) $ (92,443 ) Equity method investments loss (GAAP) $ (287 ) $ (456 ) $ (577 ) $ (567 ) $ (296 ) $ (1,896 ) $ (350 ) $ — Loss from equity method investments 287 456 577 567 296 1,896 350 — Equity method investments loss (Non-GAAP) $ — $ — $ — $ — $ — $ — $ — $ — Expand SOLAREDGE TECHNOLOGIES INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) Three months ended Year ended March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2 024 March 31, 2024 December 31, 2024 December 31, 2023 December 31, 2022 Net income (loss) (GAAP) $ (98,523 ) $ (287,439 ) $ (1,230,789 ) $ (130,818 ) $ (157,311 ) $ (1,806,357 ) $ 34,329 $ 93,779 Revenues from finance component (264 ) (254 ) (250 ) (246 ) (234 ) (984 ) (834 ) (614 ) Discontinued operation (5,060 ) 29,468 (17 ) (757 ) (481 ) 28,214 37,036 4,314 Stock-based compensation 31,426 24,432 36,642 38,571 37,606 137,251 149,945 145,539 Amortization of stock-based compensation capitalized in inventories 381 1,095 1,484 362 197 3,138 1,100 — Amortization and depreciation of acquired assets 915 1,115 2,872 2,083 1,947 8,017 7,969 9,478 Restructuring charges 3,043 3,770 2,515 4,885 9,765 20,934 23,154 — Assets impairment and disposal by abandonment 224 17,989 232,102 — 1,732 251,823 30,790 119,141 Loss (gain) from assets sales (662 ) 1,910 1,827 951 1,058 5,746 (1,262 ) (2,603 ) Certain litigation and other contingencies — — — — (399 ) (399 ) 1,786 — Acquisition costs — — — — 9 9 135 350 Non cash interest expense 4,051 3,920 3,785 3,636 3,536 14,877 12,703 9,954 Unrealized losses — — — — — — — 119 Currency fluctuation related to lease standard (1,633 ) 1,089 966 (1,523 ) (1,276 ) (744 ) (3,055 ) (11,187 ) Loss (gain) from sale of equity and debt investments (2 ) 76 (1,072 ) (1,970 ) — (2,966 ) 193 (8,008 ) Gain from business combination — — — (1,125 ) — (1,125 ) — — Gain from the repurchase of convertible notes (146 ) — — (15,456 ) — (15,456 ) — — Loss from impairment of private held companies — — 5,000 — — 5,000 — — Income tax adjustment (155 ) (176 ) 44,602 (357 ) (5,062 ) 39,007 (45,896 ) (9,067 ) Loss from equity method investments 287 456 577 567 296 1,896 350 — Net income (loss) (Non-GAAP) $ (66,118 ) $ (202,549 ) $ (899,756 ) $ (101,197 ) $ (108,617 ) $ (1,312,119 ) $ 248,443 $ 351,195 Expand SOLAREDGE TECHNOLOGIES INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) Three months ended Year ended March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2 024 March 31, 2024 December 31, 2024 December 31, 2023 December 31, 2022 Net basic earnings (loss) per share (GAAP) $ (1.70 ) $ (5.00 ) $ (21.58 ) $ (2.31 ) $ (2.75 ) $ (31.64 ) $ 0.61 $ 1.70 Revenues from finance component 0.00 (0.01 ) (0.01 ) 0.00 (0.01 ) (0.02 ) (0.02 ) (0.01 ) Discontinued operation (0.09 ) 0.52 0.00 (0.02 ) (0.01 ) 0.49 0.66 0.08 Stock-based compensation 0.54 0.42 0.65 0.69 0.66 2.41 2.65 2.64 Amortization of stock-based compensation capitalized in inventories 0.01 0.02 0.02 0.00 0.01 0.05 0.02 — Amortization and depreciation of acquired assets 0.02 0.02 0.05 0.04 0.03 0.14 0.14 0.17 Restructuring charges 0.05 0.07 0.05 0.08 0.17 0.37 0.41 — Assets impairment and disposal by abandonment 0.00 0.31 4.07 — 0.03 4.41 0.54 2.17 Loss (gain) from assets sales (0.01 ) 0.03 0.03 0.02 0.02 0.10 (0.02 ) (0.05 ) Certain litigation and other contingencies — — — — (0.01 ) (0.01 ) 0.03 — Acquisition costs — — — — 0.00 0.00 0.00 0.01 Non cash interest expense 0.07 0.07 0.07 0.07 0.06 0.26 0.23 0.18 Unrealized losses — — — — — — — 0.00 Currency fluctuation related to lease standard (0.03 ) 0.02 0.01 (0.04 ) (0.02 ) (0.01 ) (0.06 ) (0.21 ) Loss (gain) from sale of equity and debt investments 0.00 0.00 (0.02 ) (0.03 ) — (0.05 ) 0.01 (0.14 ) Gain from business combination — — — (0.02 ) — (0.02 ) — — Gain from the repurchase of convertible notes 0.00 — — (0.27 ) — (0.27 ) — — Loss from impairment of private held companies — — 0.09 — — 0.09 — — Income tax adjustment 0.00 0.00 0.78 (0.01 ) (0.09 ) 0.68 (0.81 ) (0.16 ) Loss from equity method investments 0.00 0.01 0.01 0.01 0.01 0.03 0.00 — Net basic earnings (loss) per share (Non-GAAP) $ (1.14 ) $ (3.52 ) $ (15.78 ) $ (1.79 ) $ (1.90 ) $ (22.99 ) $ 4.39 $ 6.38 Expand SOLAREDGE TECHNOLOGIES INC. (in thousands, except per share data and percentages) Three months ended Year ended March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2 024 March 31, 2024 December 31, 2024 December 31, 2023 December 31, 2022 Net diluted earnings (loss) per share (GAAP) $ (1.70 ) $ (5.00 ) $ (21.58 ) $ (2.31 ) $ (2.75 ) $ (31.64 ) $ 0.60 $ 1.65 Revenues from finance component 0.00 (0.01 ) (0.01 ) 0.00 (0.01 ) (0.02 ) (0.01 ) (0.01 ) Discontinued operation (0.09 ) 0.52 0.00 (0.02 ) (0.01 ) 0.49 0.64 0.08 Stock-based compensation 0.54 0.42 0.65 0.69 0.66 2.41 2.57 2.43 Amortization of stock-based compensation capitalized in inventories 0.01 0.02 0.02 0.00 0.01 0.05 0.02 — Amortization and depreciation of acquired assets 0.02 0.02 0.05 0.04 0.03 0.14 0.14 0.16 Restructuring charges 0.05 0.07 0.05 0.08 0.17 0.37 0.40 — Assets impairment and disposal by abandonment 0.00 0.31 4.07 — 0.03 4.41 0.53 2.02 Loss (gain) from assets sales (0.01 ) 0.03 0.03 0.02 0.02 0.10 (0.02 ) (0.04 ) Certain litigation and other contingencies — — — — (0.01 ) (0.01 ) 0.03 — Acquisition costs — — — — 0.00 0.00 0.00 0.00 Non cash interest expense 0.07 0.07 0.07 0.07 0.06 0.26 0.03 0.13 Unrealized losses — — — — — — 0.00 0.00 Currency fluctuation related to lease standard (0.03 ) 0.02 0.01 (0.04 ) (0.02 ) (0.01 ) (0.05 ) (0.19 ) Loss (gain) from sale of equity and debt investments 0.00 0.00 (0.02 ) (0.03 ) — (0.05 ) 0.00 (0.13 ) Gain from business combination — — — (0.02 ) — (0.02 ) — — Gain from the repurchase of convertible notes 0.00 — — (0.27 ) — (0.27 ) — — Loss from impairment of private held companies — — 0.09 — — 0.09 — — Income tax adjustment 0.00 0.00 0.78 (0.01 ) (0.09 ) 0.68 (0.76 ) (0.15 ) Loss from equity method investments 0.00 0.01 0.01 0.01 0.01 0.03 0.00 — Net diluted earnings (loss) per share (Non-GAAP) $ (1.14 ) $ (3.52 ) $ (15.78 ) $ (1.79 ) $ (1.90 ) $ (22.99 ) $ 4.12 $ 5.95 Number of shares used in computing net diluted earnings (loss) per share (GAAP) 58,121,502 57,467,946 57,029,983 56,687,006 57,140,126 57,082,182 57,237,518 58,100,649 Stock-based compensation — — — — — — 725,859 963,373 Notes due 2025 — — — — — — 2,276,818 — Number of shares used in computing net diluted earnings (loss) per share (Non-GAAP) 58,121,502 57,467,946 57,029,983 56,687,006 57,140,126 57,082,182 60,240,195 59,064,022 Net cash provided by (used in) operating activities (GAAP) $ 33,823 $ 37,804 $ (89,332 ) $ (44,772 ) $ (217,019 ) $ (313,319 ) $ (180,113 ) $ 31,284 Purchases of property and equipment (10,109 ) (12,258 ) (47,370 ) (22,188 ) (26,347 ) (108,163 ) (170,523 ) (169,341 ) Discontinued operation (3,867 ) — — — — — — — Free cash flow (deficit) (Non-GAAP) $ 19,847 $ 25,546 $ (136,702 ) $ (66,960 ) $ (243,366 ) $ (421,482 ) $ (350,636 ) $ (138,057 ) Expand
