SolarEdge (SEDG) nosedives 17% after disappointing report, guidance; solar stocks down

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Go back to SolarEdge (SEDG) nosedives 17% after disappointing report, guidance; solar stocks down

SolarEdge Announces Fourth Quarter 2023 and Full Year 2023 Financial Results

February 20, 2024 4:05 PM EST

MILPITAS, Calif.--(BUSINESS WIRE)-- SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the fourth quarter ended December 31, 2023 and full year ended December 31, 2023.

Fourth Quarter 2023 Highlights

Revenues of $316.0 million Revenues from solar segment of $282.4 million GAAP gross margin of negative 17.9% Non-GAAP gross margin1 of 3.3% Gross margin from solar segment of 4.0% GAAP operating loss of $237.6 million Non-GAAP operating loss1 of $107.8 million GAAP net loss of $162.4 million Non-GAAP net loss1... More