SolarEdge reports record Q1 revenue $655M, up 62% YoY; guides Q2 $710-740M

SOLAREDGE TECHNOLOGIES, INC.

2022-Q1 EPS reported $0.60 revenue$655,080,000

Record revenue $655.1M, up 62% YoY; solar segment $608M, up 62% YoY.
GAAP gross margin 27.3% (down from 34.5% YoY); non-GAAP 28.4% (down from 36.5%).
GAAP diluted EPS $0.60 (down from $0.74 QoQ); non-GAAP EPS $1.20 (up from $0.98 YoY).
Operating cash flow used $163M vs generated $89.6M prior Q; cash net of debt $979M after $650.5M equity offering.
Q2 guidance: revenue $710-740M; solar segment gross margin 28-31%.

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