SolarEdge Q3 revenue $725M, down 27% QoQ; GAAP net loss $61.2M; board approves $300M buyback

SOLAREDGE TECHNOLOGIES, INC.

2023-Q3 EPS reported $3.34 revenue$2,660,484,000

Revenue $725.3M, down 27% from $991.3M prior quarter and 13% from $836.7M YoY.
GAAP gross margin 19.7%, down from 32.0% QoQ; solar segment gross margin 24.0% vs 34.7%.
GAAP net loss $61.2M (diluted EPS -$1.08) vs net income $119.5M (EPS $2.03) prior quarter.
Non-GAAP net loss $31.0M (EPS -$0.55) vs net income $157.4M (EPS $2.62) prior quarter.
Board authorized up to $300M share repurchase program, expiring December 31, 2024.

item 2.02 item 8.01 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 third quarter ended September 30, 2023 results: revenue $725.3 million, net income $61.2 million, EPS $1.08.

Period: the third quarter ended September 30, 2023
Revenue: $725.3 million
Net income: $61.2 million
EPS: $1.08
Result: reported results

Exact text from the filing

a global leader in smart energy technology, today announced its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights • Revenues of $725.3 million • Revenues from solar segment of $676.4 million • GAAP gross margin of 19.7% • Non-GAAP gross margin* of 20.8% • Gross margin from solar segment of 24.0% • GAAP operating loss of

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SOLAREDGE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001178913-23-003504

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