UPDATE: Northland Capital Markets Upgrades SolarEdge Technologies (SEDG) to Market Perform
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SolarEdge Announces Third Quarter 2022 Financial Results
November 7, 2022 4:02 PM ESTMILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the third quarter ended September 30, 2022.
Third Quarter 2022 Highlights
Record revenues of $836.7 million Record revenues from solar segment of $788.6 million GAAP gross margin of 26.5% Non-GAAP gross margin of 27.3% Gross margin from solar segment of 28.3% Record GAAP operating profit of $84.4 million Record non-GAAP operating profit of $120.2 million GAAP net income of $24.7 million Non-GAAP net income of $54.1... More