SolarEdge(SEDG) - 2021 Q4 - Earnings Call Presentation

SolarEdge Overview - SolarEdge has shipped over 2.45 million power optimizers[6] - SolarEdge has over 3,800 patents and additional patent applications[6] - SolarEdge has a presence in 34 countries[6] Financial Performance (2021) - GAAP Revenue was $1.9639 billion[8] - Non-GAAP Net Income was $272.9 million[8] - GAAP Gross Margin was 32.0%[8] - Cash Flow From Operations was $214.1 million[8] - Cash, Deposits and Investments, Net of Debt was $548.0 million[7, 8] Q4 2021 Financial Results - GAAP Revenue was $551.9 million[7] - Non-GAAP Net Income was $62.8 million[7] - GAAP Gross Margin was 29.1%[7] - Cash Flow From Operations was $89.6 million[7] - GAAP Net Income was $41.0 million[7] Market Trends - Electricity demand is on the rise, with an expected increase of over 2 billion people (+26%) between 2020-2050[9] - Urbanization is expected to increase by approximately 2.5 billion people[9] - Total global primary energy consumption is expected to double by 2035 and triple by 2050[9] - Solar PV is projected to lead power generation capacity by 2050, accounting for 38% of a total 20,391 GW[10] Market Share - SolarEdge has been ranked first in the global inverter market since 2018[29] - In 2019, global installed power generation capacity was 7,566 GW, with solar PV accounting for 11%[10] - The US residential market share for SolarEdge is 51.3% in 2020[22] Growth Strategy - Geographic Expansion: Systems installed in >130 countries[25] - Segment Development: Expanding from residential leadership to commercial and utility markets[27, 28] - Market Share Growth: Maintaining leadership in core markets and growing in new markets[25]