SolarEdge Q1 revenue $204.4M, down 78% YoY; GAAP net loss $2.75 per share

SOLAREDGE TECHNOLOGIES, INC.

2024-Q1 EPS reported -$2.75 revenue$204,399,000

Revenue $204.4M, down 35% QoQ and 78% YoY; solar segment $190.1M, down 79% YoY.
GAAP gross margin -12.8% (non-GAAP -6.5%); GAAP operating loss $173.7M.
GAAP net loss $157.3M ($2.75/share); non-GAAP net loss $108.6M ($1.90/share).
Shipped 946 MW (AC) inverters and 128 MWh of batteries for PV applications.
CEO cites inventory clearing and seasonality; expects revenue improvement in coming quarters.

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 first quarter ended March 31, 2024 results: revenue $204.4 million, net income GAAP net loss of $157.3 million, EPS GAAP net loss per share of $2.75.

Period: first quarter ended March 31, 2024
Revenue: $204.4 million
Net income: GAAP net loss of $157.3 million
EPS: GAAP net loss per share of $2.75
Result: reported results

Exact text from the filing

SEDG), a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights • Revenues of $204.4 million • Revenues from solar segment of $190.1 million • GAAP gross margin of negative 12.8% • Non-GAAP gross margin 1 of negative 6.5%, including 4.5% of net IRA benefit • Gross margin

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Source: SEC EDGAR

accession 0001178913-24-001634

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