2Sem.ยท

$SEDG (+11,62ย %) | SolarEdge Technologies Q3 Earnings Highlights:


๐Ÿ”น Revenue: $260.9M (Est. $272.8M) ๐Ÿ”ด; DOWN -64% YoY

๐Ÿ”น GAAP EPS: -$21.13; Non-GAAP EPS: -$15.33 (Est. -$1.65) ๐Ÿ”ด

๐Ÿ”น GAAP Net Loss: $1.21B vs. $61.2M loss YoY

๐Ÿ”น Adjusted EBITDA: Not provided due to large write-downs and impairments

๐Ÿ”น GAAP Gross Margin: -269.2%, down significantly from 19.7% YoY


Q4 Guidance

๐Ÿ”น Revenue: $180M - $200M (Est. $309.2M) ๐Ÿ”ด

๐Ÿ”น Non-GAAP Gross Margin: -4% to 0%, inclusive of ~1000 basis points from IRA manufacturing tax credit

๐Ÿ”น Solar Segment Revenue: $170M - $190M

๐Ÿ”น Solar Segment Gross Margin: 0% to 3%, inclusive of ~1050 basis points from IRA manufacturing tax credit

๐Ÿ”น Non-GAAP Operating Expenses: $103M - $108M


Segment Revenue

๐Ÿ”น Solar Segment: $247.5M, DOWN -63% YoY

๐Ÿ”น Non-Solar Revenue: Not specifically detailed


Operational Metrics

๐Ÿ”น Inverters Shipped: 850 MW (AC)

๐Ÿ”น Battery Shipments: 189 MWh for PV applications


Impairments and Write-Downs

๐Ÿ”ธ Total impairments and write-downs of $1.03B, contributing heavily to net loss


CEO Commentary

๐Ÿ”ธ "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." โ€“ Ronen Faier, Interim CEO


Other Financial Metrics

๐Ÿ”น Cash Used in Operating Activities: $63.9M, compared to $40.6M generated in the same quarter last year

๐Ÿ”น Cash, Equivalents, and Marketable Securities: $53.3M, down from $165.3M in Q2

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