SolarEdge Technologies, Inc. SEDG shares are trading relatively flat on Thursday.Yesterday, the company reported third-quarter results, with revenues of $260.9 million, down 2% from $265.4 million in the prior quarter and down 64% from $725.3 million in the same quarter last year.Revenues from the solar segment were $247.5 million, down 63% from $676.9 million in the same quarter last year.Here are the analysts’ takes on the earnings results:Piper Sandler analyst Kashy Harrison downgraded the stock to Under ...

For the transition period from _________ to __________ Commission File Number: 001-36894 SOLAREDGE TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) Identification No.) 20-5338862 (IRS Employer 1 HaMada Street Herziliya Pituach, 4673335, Israel (Address of Principal Executive Offices, zip code) 972 (9) 957-6620 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of ...

Solar stocks got a lot cheaper this week. You still shouldn't buy them.SolarEdge (SEDG -1.08%) stock is taking investors on a wild ride on Thursday -- but not just investors in SolarEdge stock. After reporting a gigantic earnings miss last night, shares of the Israeli solar inverter stock opened down 13% from Wednesday's closing price. The shares proceeded to fall further in the day's opening minutes, before turning around, gaining back (almost) all their losses -- then retreating again. As of 11:15 a.m. ET ...

SolarEdge Technologies, Inc. (SEDG) reported a third-quarter 2024 adjusted loss of $15.33 per share, wider than the Zacks Consensus Estimate of a loss of $1.55. The bottom line also deteriorated from the prior-year quarter’s loss of 55 cents per share.See the Zacks Earnings Calendar to stay ahead of market-making news.Barring one-time adjustments, the company incurred a GAAP loss of $21.13 per share compared with the GAAP loss of $1.08 per share in the year-ago period.The year-over-year deterioration in the ...

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Financial Data and Key Metrics - Q3 2024 revenue was $261 million, with $248 million from the solar business and $13 million from non-solar businesses [21] - Free cash flow use in Q3 was $75 million, down significantly from $140 million in Q2 [11] - Inventory write-downs totaled $612 million, with $536 million related to the solar business and $76 million to non-solar business [29] - GAAP gross margin for Q3 was negative 269.2%, driven by a $1.03 billion impairment charge [34] - Non-GAAP operating loss for Q3 was $801.1 million, compared to $114.3 million in Q2 [35] - Cash and equivalents stood at $740 million as of September 30, 2024 [36] Business Line Data and Key Metrics - Solar business shipped 1.85 million power optimizers, 58,000 inverters, and 189 MWh of batteries in Q3 [21] - Non-solar business revenue was $13.1 million, primarily from energy storage and other segments [34] - The company divested its automation machines business, acquired as part of the S.M.R.E. acquisition in 2019, to focus on core solar and storage businesses [19] Market Data and Key Metrics - U.S. residential sell-through grew 8% quarter-over-quarter, while commercial sell-through increased by 15% [22] - European residential sell-through declined by 34%, and commercial sell-through dropped by 26% due to weak market conditions [23] - The company expects to increase U.S. manufacturing capacity, with the Florida facility on track to produce 2 million domestic optimizers per quarter by Q1 2025 [24] Company Strategy and Industry Competition - The company has identified three priorities: achieving financial stability, recapturing market share, and refocusing on core solar and storage businesses [10] - Price reductions and promotions in Europe aim to regain market share and reduce the pricing gap with low-cost competitors [16] - The company plans to introduce next-generation products in 2025, focusing on solar, storage, and energy management solutions [20] Management Commentary on Operating Environment and Future Outlook - The company expects to return to positive cash generation by the first half of 2025, with free cash flow use in Q4 2024 expected to be between negative $20 million and neutral [13] - Management anticipates a pickup in demand starting in Q2 2025, driven by price reductions and promotional campaigns [17] - The company is focused on reducing operational expenses and optimizing working capital to achieve financial stability [14] Other Important Information - The company sold $40 million in Section 45x manufacturing credits related to U.S. production in the first half of 2024 [12] - The CEO selection process is ongoing, with an announcement expected before the end of 2024 [15] Q&A Session Summary Question: Impact of price reductions and asset revaluation on revenue targets [38] - Management acknowledged the volatility in the market and the difficulty in committing to specific revenue targets due to uncertain demand in Europe and the U.S. [39][40] - The company expects revenue to pick up in Q2 2025, driven by price reductions and promotional campaigns [41] Question: Expectations for Q4 and Q1 revenue and market share [42] - Management does not expect Q1 2025 to be lower than Q4 2024, with stabilization or even an increase in revenue anticipated due to price reductions [43][44] - Market share in Europe is difficult to measure, but the company believes price reductions will help regain share [45] Question: Assumptions for achieving breakeven on cash flow [49] - The company expects to achieve breakeven through the sale of IRA credits, inventory usage, and low capital expenditures [51][52] Question: Timing of new product introductions [53] - New products, including a 20-kilowatt inverter and a second-generation battery, are expected to be introduced in 2025 [53] Question: Refinancing of convertible debt and 45x tax credit pricing [56] - The company plans to repay the convertible debt at maturity in September 2025 and sold 45x credits at mid-90s pricing [58][59] Question: Structural vs. one-time nature of price reductions in Europe [60] - Price reductions in Europe are expected to be permanent, with high single-digit to low double-digit reductions in 2024 and mid-to-high single-digit reductions in 2025 [63][64] Question: Core market focus and potential shift back to the U.S. [66] - Both the U.S. and Europe remain important markets, with a short-term focus on the U.S. due to stronger market conditions [67][68] Question: Undershipment in Q3 and expectations for Q4 and 2025 [72] - Undershipment in Q3 was approximately $210 million, with expectations for stabilization or improvement in Q1 2025 [73][74] Question: Potential for further inventory write-downs and domestic vs. European inventory [107] - The company does not expect further inventory write-downs in the solar division, with most write-downs related to obsolescence rather than selling below cost [108][111] Question: Impact of recent price reductions and manufacturing capacity [113] - Recent price reductions in Europe were not fully reflected in Q3 results, and the company no longer maintains $1 billion in manufacturing capacity [115][116]

SolarEdge Technologies (SEDG) came out with a quarterly loss of $15.33 per share versus the Zacks Consensus Estimate of a loss of $1.55. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -889.03%. A quarter ago, it was expected that this photovoltaic products maker would post a loss of $1.60 per share when it actually produced a loss of $1.79, delivering a surprise of -11.88%.Over the last four qua ...

Revenue Performance - Revenues for Q3 2024 were $260.9 million, down 2% from the prior quarter and down 64% from the same quarter last year[3] - Solar segment revenues were $247.5 million, up 3% from the prior quarter but down 63% from the same quarter last year[3] - Revenues for the three months ended September 30, 2024, were $260.9 million, a significant decrease compared to $725.3 million in the same period in 2023[21] - Q4 2024 revenue guidance is between $180 million and $200 million, with solar segment revenues expected to be between $170 million and $190 million[11] Gross Margin and Profitability - GAAP gross margin was negative 269.2%, compared to negative 4.1% in the prior quarter and 19.7% in the same quarter last year[3] - Non-GAAP gross margin was negative 265.4%, compared to 0.2% in the prior quarter and 20.8% in the same quarter last year[4] - Gross loss for the three months ended September 30, 2024, was $702.3 million, compared to a gross profit of $142.8 million in the same period in 2023[21] - Gross profit (GAAP) for December 31, 2021, was $(702,326) thousand, with a gross margin (GAAP) of (269.2)%[32] - Non-GAAP gross profit for December 31, 2021, was $(691,809) thousand, with a non-GAAP gross margin of (265.4)%[33] Operating Loss and Expenses - GAAP operating loss was $1.09 billion, compared to a loss of $160.2 million in the prior quarter and $16.7 million in the same quarter last year[5] - Non-GAAP operating loss was $808.1 million, compared to a loss of $114.3 million in the prior quarter and income of $23.1 million in the same quarter last year[6] - Operating income (loss) (GAAP) for September 30, 2024 was $(1,085,266) thousand, compared to $(160,182) thousand for June 30, 2024[37] - Operating expenses (GAAP) for December 31, 2021, were $382,940 thousand[35] - Non-GAAP operating expenses for December 31, 2021, were $116,282 thousand[36] Net Loss and Earnings Per Share - GAAP net loss was $1.21 billion, compared to a loss of $130.8 million in the prior quarter and $61.2 million in the same quarter last year[7] - Non-GAAP net loss was $874.3 million, compared to a loss of $101.2 million in the prior quarter and $31.0 million in the same quarter last year[7] - Net loss for the three months ended September 30, 2024, was $1.205 billion, compared to a net loss of $61.2 million in the same period in 2023[21] - Net income (loss) (GAAP) for September 30, 2024 was $(1,205,321) thousand, a significant decline compared to $(130,818) thousand in June 2024 and $(157,311) thousand in March 2024[39] - Net basic earnings (loss) per share (GAAP) for September 30, 2024 was $(21.13), compared to $(2.31) in June 2024 and $(2.75) in March 2024[41] - Net basic earnings (loss) per share (Non-GAAP) for September 30, 2024 was $(15.33), compared to $(1.79) in June 2024 and $(1.90) in March 2024[41] - Net diluted earnings (loss) per share (GAAP) for September 30, 2024 was $(21.13), compared to $(2.31) for June 30, 2024 and $(2.75) for March 31, 2024[43] - Net diluted earnings (loss) per share (Non-GAAP) for September 30, 2024 was $(15.33), compared to $(1.79) for June 30, 2024 and $(1.90) for March 31, 2024[44] Inventory and Asset Management - Total current assets decreased to $2.118 billion as of September 30, 2024, from $3.304 billion as of December 31, 2023[22] - Inventories, net decreased to $798.4 million as of September 30, 2024, from $1.443 billion as of December 31, 2023[22] - Provision to write down inventories to net realizable value was $639 million for the nine months ended September 30, 2024, compared to $20.7 million in the same period in 2023[24] - Loss on impairment and disposal of property, plant, and equipment was $206.6 million for the nine months ended September 30, 2024[24] - Assets impairment and disposal by abandonment resulted in a loss of $(232,102) thousand for December 31, 2021[36] - Assets impairment and disposal by abandonment for September 30, 2024 was $232,102 thousand, compared to $1,732 thousand for March 31, 2024[37] Cash Flow and Financial Position - Net cash used in operating activities for the nine months ended September 30, 2024, was $325.7 million, compared to $40.2 million in the same period in 2023[24] - Net cash provided by investing activities for the nine months ended September 30, 2024, was $318.8 million, compared to a net cash used of $188.2 million in the same period in 2023[24] - Cash and cash equivalents decreased to $303.9 million as of September 30, 2024, from $338.5 million as of December 31, 2023[24] - Notes due 2025 for the year ended December 31, 2023 was $2,276,818[45] Stock-Based Compensation and Other Adjustments - Stock-based compensation for December 31, 2021, was $6,039 thousand, contributing 2.3% to the gross margin[33] - Stock-based compensation for September 30, 2024 was $36,642 thousand, compared to $38,571 thousand for June 30, 2024[37] - Stock-based compensation increased to $36,642 thousand in September 2024 from $38,571 thousand in June 2024 and $37,606 thousand in March 2024[39] - Stock-based compensation for September 30, 2024 was $0.64 per share, compared to $0.69 for June 30, 2024 and $0.66 for March 31, 2024[43] - Stock-based compensation for the year ended December 31, 2023 was $725,859, compared to $963,373 for December 31, 2022 and $773,636 for December 31, 2021[45] - Restructuring charges for December 31, 2021, were $1,216 thousand, contributing 0.0% to the gross margin[34] - Restructuring charges and assets impairment totaled $2,515 thousand in September 2024, down from $4,885 thousand in June 2024 and $9,765 thousand in March 2024[39] - Amortization and depreciation of acquired assets for December 31, 2021, were $2,034 thousand, contributing 1.0% to the gross margin[34] - Non-cash interest expense for September 30, 2024 was $3,785 thousand, compared to $3,636 thousand for June 30, 2024[37] - Non-cash interest expense was $3,785 thousand in September 2024, slightly up from $3,636 thousand in June 2024 and $3,536 thousand in March 2024[39] Tax and Other Financial Items - Tax benefits (income taxes) (GAAP) for September 30, 2024 was $(121,108) thousand, compared to $12,245 thousand for June 30, 2024[37] - Income tax adjustment was $44,602 thousand in September 2024, a significant increase from $(357) thousand in June 2024 and $(5,062) thousand in March 2024[39] - Financial income (expense), net (GAAP) for September 30, 2024 was $5,558 thousand, compared to $(865) thousand for June 30, 2024[37] - Other income (loss) (GAAP) for September 30, 2024 was $(3,928) thousand, compared to $18,551 thousand for June 30, 2024[37] - Equity method investments loss (GAAP) for September 30, 2024 was $(577) thousand, compared to $(567) thousand for June 30, 2024[37] - Equity method investments loss (Non-GAAP) for September 30, 2024 was $—, compared to $— for June 30, 2024[38] - Loss from impairment of private held companies was $5,000 thousand in September 2024, with no comparable figures in previous quarters[39] - Currency fluctuation related to lease standard resulted in a loss of $966 thousand in September 2024, compared to a gain of $(1,523) thousand in June 2024 and $(1,276) thousand in March 2024[39] Share Count and Earnings Per Share Calculations - Number of shares used in computing net diluted earnings (loss) per share (GAAP) for September 30, 2024 was 57,029,983, compared to 56,687,006 for June 30, 2024 and 57,140,126 for March 31, 2024[44] - Number of shares used in computing net diluted earnings (loss) per share (Non-GAAP) for September 30, 2024 was 57,029,983, compared to 56,687,006 for June 30, 2024 and 57,140,126 for March 31, 2024[45] Discontinued Operations and Other Items - Discontinued operations contributed $36,648 thousand to the gross profit for December 31, 2021[32] - Revenues from the finance component for December 31, 2021, were $(250) thousand, contributing (0.1)% to the gross margin[32] - Revenues from finance component for September 30, 2024 were $(250) thousand, compared to $(246) thousand for June 30, 2024[37] - Revenues from finance component remained relatively stable, with $(250) thousand in September 2024 compared to $(246) thousand in June 2024 and $(234) thousand in March 2024[39]

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

SolarEdge Technologies Inc SEDG shares have lost more than 80% year to date.Estimates for the company have been lowered following the release of Enphase Energy Inc's ENPH third-quarter results, according to JPMorgan.Analyst Mark Strouse maintained an Overweight rating for SolarEdge Technologies while lowering the price target from $35 to $29.The SolarEdge Technologies Thesis: Enphase Energy's quarterly results reflect weaker-than-expected demand in Europe for solar and storage, Strouse said in the note.Chec ...