SolarEdge Q2 revenue $991.3M record, up 36% YoY; Q3 guidance below Q2 levels

SOLAREDGE TECHNOLOGIES, INC.

2023-Q2 EPS reported $4.38 revenue$1,935,179,000

Record revenue $991.3M (+36% YoY); solar segment revenue $947.4M (+38% YoY).
GAAP gross margin 32.0% vs 25.1% YoY; non-GAAP diluted EPS $2.62 vs $0.95 YoY.
Operating cash flow negative $88.7M in Q2 vs positive $77.4M YoY; cash net of debt $853.5M.
Q3 guidance: revenue $880-920M, non-GAAP gross margin 28-31%, down from Q2 levels.
CEO cites US residential headwinds from higher interest rates; Europe strong.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOLAREDGE TECHNOLOGIES, INC. reported the second quarter ended June 30, 2023 results: revenue record revenues of $991.3 million, net income GAAP net income of $119.5 million, EPS GAAP net diluted earnings per share ("EPS") of $2.03. Guidance initiated.

Period: the second quarter ended June 30, 2023
Revenue: record revenues of $991.3 million
Net income: GAAP net income of $119.5 million
EPS: GAAP net diluted earnings per share ("EPS") of $2.03
Guidance: initiated
Result: reported results

Exact text from the filing

a global leader in smart energy technology, today announced its financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights • Record revenues of $991.3 million • Record revenues from solar segment of $947.4 million • GAAP gross margin of 32.0% • Non-GAAP gross margin* of 32.7% • Gross margin from solar segment of 34.7% • Record GAAP

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

SOLAREDGE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001178913-23-002658

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