$SEDG (+4,11%)

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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Non-GAAP EPS: $0.29 (Est. $0.04) ✅, vs. -$0.31 YoY.

• Revenue: $326.1M (Est. $326.97M) ❌, -4.1% YoY.

• GAAP EPS: -$0.14 (vs. -$0.84 YoY).

• Non-GAAP Gross Margin: 34.7%, +1,590 bps YoY.

• Non-GAAP Operating Income: $23.9M (vs. -$23.8M YoY).

• Adjusted EBITDA: $31.8M (vs. -$14.1M YoY).

• Free Cash Flow: $7.8M.

• Net Cash & Investments: $260.9M.

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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞

• Q4 Revenue: $245M–$275M, midpoint $260M (Est. $317.74M) ❌.

• Q4 Non-GAAP Gross Margin: 17%–21%.

• Q4 Non-GAAP Operating Expenses: $87M–$91M.

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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Q3 adjusted EPS beat consensus by $0.25, while revenue was essentially in line with estimates.

• Q4 revenue guidance midpoint is ~18.2% below consensus, implying a ~20.3% sequential decline.

• Q3 gross margin benefited from $36M in IEEPA tariff-related refunds, a significant non-recurring tailwind.

• Non-GAAP gross margin improved to 34.7% from 18.8% YoY, but Q4 guidance implies a sharp normalization to 17%–21%.

• GAAP operating loss narrowed to $1.9M from $35.2M YoY.

• Recorded its fifth consecutive quarter of positive free cash flow.

• Management is implementing additional cost reductions amid weaker near-term demand.

• Nexis product momentum and increasing energy storage adoption remain key growth initiatives.

• Accelerating development of solid-state transformer (SST) technology for AI data center power infrastructure.

• Live SST demonstrations are generating increased interest from potential partners and customers.

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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲

“As near-term market uncertainty persists and given reduced revenue expectations for the fourth quarter, we are taking decisive steps to reduce costs, sharpen our focus, and support profitability amid softer demand.”

$SEDG (+4,11%) ohhh my god 🤣🤣🤣🤣

$SYM (-0,16%)
FILES TO DELAY 10-K DUE TO REVENUE RECOGNITION ERRORS

Symbotic has delayed its FY2024 10-K filing, citing the need to address errors in revenue recognition related to cost overruns on deployments that won’t be billable. These issues impact system revenue, gross margin, and net income across Q2-Q4 of FY2024, with previously reported results deemed unreliable.

Revised estimates for FY2024 include revenue growth of $605M-$615M (vs. $645M initially reported) and a narrowed net loss of $117M-$127M (reflecting a $30M-$40M adjustment). Symbotic expects to file the corrected 10-K within the 15-day extension period.

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$SEDG (+4,11%) TO CUT 500 JOBS, EXIT ENERGY STORAGE BUSINESS

SolarEdge is cutting 500 jobs, about 12% of its workforce, as it shuts down its energy storage division to focus on its core solar operations. Most layoffs will affect manufacturing roles in South Korea, with nearly all set to occur in the first half of 2025.

The pivot will result in $81M-$99M in charges from asset impairments, inventory write-offs, and severance. SolarEdge plans to partially offset these costs by selling off the energy storage unit's assets.