SolarEdge Q1 2023: record revenue $943.9M, GAAP EPS $2.35, guidance above consensus

SOLAREDGE TECHNOLOGIES, INC.

2023-Q1 EPS reported $2.35 revenue$943,889,000

Record revenue of $943.9M (+44% YoY); solar segment revenue $908.5M (+49% YoY).
Record GAAP net income $138.4M, GAAP diluted EPS $2.35; non-GAAP EPS $2.90.
GAAP gross margin 31.8% (up from 27.3% YoY); non-GAAP gross margin 32.6%.
Cash and equivalents $1.01B net of debt; operating cash flow $7.9M.
Q2 guidance: revenue $970M–$1,010M, non-GAAP gross margin 32%–35%, non-GAAP operating profit $195M–$215M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOLAREDGE TECHNOLOGIES, INC. reported first quarter ended March 31, 2023 results: revenue $943.9 million, net income $138.4 million, EPS $2.35. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $943.9 million
Net income: $138.4 million
EPS: $2.35
Guidance: initiated
Result: reported results

Exact text from the filing

a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights • Record revenues of $943.9 million • Record revenues from solar segment of $908.5 million • GAAP gross margin of 31.8% • Non-GAAP gross margin of 32.6% • Gross margin from solar segment of 35.0% • Record GAAP

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Source: SEC EDGAR

accession 0001178913-23-001710

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