SolarEdge posts record Q2 revenue of $727.8M, GAAP net income $15.1M, margins decline

SOLAREDGE TECHNOLOGIES, INC.

2022-Q2 EPS reported $0.86 revenue$1,382,854,000

Record revenue of $727.8M, up 11% QoQ and 52% YoY; solar segment revenue $687.6M (record).
GAAP gross margin 25.1% (down 220 bps QoQ, 740 bps YoY); non-GAAP gross margin 26.7%.
GAAP net income $15.1M ($0.26 diluted EPS), down 54% QoQ; non-GAAP net income $56.7M ($0.95 EPS).
Q3 2022 guidance: revenue $810-840M, solar segment $765-795M, non-GAAP gross margin 26-29%.
Operating cash flow $77.4M vs. -$163.0M previous quarter; cash $973.3M net of debt.

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