$SEDG (+11.9%) | SolarEdge Technologies Q3 Earnings Highlights:

🔹 Revenue: $260.9M (Est. $272.8M) 🔴; DOWN -64% YoY

🔹 GAAP EPS: -$21.13; Non-GAAP EPS: -$15.33 (Est. -$1.65) 🔴

🔹 GAAP Net Loss: $1.21B vs. $61.2M loss YoY

🔹 Adjusted EBITDA: Not provided due to large write-downs and impairments

🔹 GAAP Gross Margin: -269.2%, down significantly from 19.7% YoY

Q4 Guidance

🔹 Revenue: $180M - $200M (Est. $309.2M) 🔴

🔹 Non-GAAP Gross Margin: -4% to 0%, inclusive of ~1000 basis points from IRA manufacturing tax credit

🔹 Solar Segment Revenue: $170M - $190M

🔹 Solar Segment Gross Margin: 0% to 3%, inclusive of ~1050 basis points from IRA manufacturing tax credit

🔹 Non-GAAP Operating Expenses: $103M - $108M

Segment Revenue

🔹 Solar Segment: $247.5M, DOWN -63% YoY

🔹 Non-Solar Revenue: Not specifically detailed

Operational Metrics

🔹 Inverters Shipped: 850 MW (AC)

🔹 Battery Shipments: 189 MWh for PV applications

Impairments and Write-Downs

🔸 Total impairments and write-downs of $1.03B, contributing heavily to net loss

CEO Commentary

🔸 "We are diligently focused on three main priorities: financial stability, recapturing market share, and refocusing on our core solar and storage opportunities. Despite the current challenges, I am confident in our path to restoring profitability." – Ronen Faier, Interim CEO

Other Financial Metrics

🔹 Cash Used in Operating Activities: $63.9M, compared to $40.6M generated in the same quarter last year

🔹 Cash, Equivalents, and Marketable Securities: $53.3M, down from $165.3M in Q2