$SEDG

SOLAREDGE TECHNOLOGIES, INC.

CIK:0001419612|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 346,245	$ 289,429	$ 656,746	$ 508,909
Cost of revenues	251,093	257,298	493,313	459,242
Gross profit	95,152	32,131	163,433	49,667
Operating expenses:
Research and development, net	52,751	53,386	102,906	115,383
Sales and marketing	27,265	28,725	54,714	60,382
General and administrative	24,539	19,789	60,961	49,972
Other operating expense, net	6,643	45,724	15,941	42,149
Total operating expenses	111,198	147,624	234,522	267,886
Operating loss	(16,046)	(115,493)	(71,089)	(218,219)
Financial income (expense), net	(12,378)	(7,323)	(13,415)	2,745
Other income, net	0	4,017	0	4,165
Loss before income taxes	(28,424)	(118,799)	(84,504)	(211,309)
Income taxes	(2,329)	(5,657)	(3,615)	(11,383)
Net loss from equity method investments	0	(288)	0	(575)
Net loss	$ (30,753)	$ (124,744)	$ (88,119)	$ (223,267)
Net basic loss per share of common stock	$ (0.5)	$ (2.13)	$ (1.44)	$ (3.83)
Net diluted loss per share of common stock	$ (0.5)	$ (2.13)	$ (1.44)	$ (3.83)
Weighted average number of shares used in computing net basic loss per share of common stock	61,045,194	58,567,394	61,152,904	58,345,680
Weighted average number of shares used in computing net diluted loss per share of common stock	61,045,194	58,567,394	61,152,904	58,345,680

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (88,119)	$ (223,267)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	11,687	16,227
Impairment of asset held-for-sale	0	38,339
Stock-based compensation expenses	39,549	50,687
Loss from business disposition	7,699	17,875
Loss (gain) from exchange rate fluctuations	(1,740)	1,516
Other items	7,984	(2,221)
Changes in assets and liabilities:
Trade receivables, net	53,801	(54,686)
Inventories, net	(35,223)	125,125
Prepaid expenses and other assets	(125,103)	61,006
Operating lease right-of-use assets, net	6,600	5,153
Trade payables	188,259	71,217
Employees and payroll accruals	(7,173)	(2,038)
Warranty obligations	(48,975)	(34,609)
Deferred revenues and customers advances	13,362	(83,779)
Operating lease liabilities	(7,796)	(6,806)
Accrued expenses and other liabilities	21,032	46,285
Net cash provided by operating activities	35,844	26,024
Cash flows from investing activities:
Investment in available-for-sale marketable securities	0	(172,773)
Proceeds from maturities of available-for-sale marketable securities	18,388	292,679
Purchase of property, plant and equipment	(11,983)	(11,365)
Business dispositions, net of cash sold	(2,631)	(7,322)
Proceeds from sale of property, plant and equipment	603	10,314
Repayment related to governmental grant	0	(6,643)
Proceeds from sale of investment in privately-held company	0	4,000
Withdrawal from (investment in) restricted bank deposits	2,700	(138)
Payments made before lease commencement	(26,162)	0
Proceeds from loan receivables	56	27,475
Other investing activities	498	(40)
Net cash provided by (used in) investing activities	(18,531)	136,187
Cash flows from financing activities:
Repurchase of convertible debt	0	(5,093)
Issuance of common stock upon exercise of stock-based awards	3,850	10
Tax withholding in connection with stock-based awards, net	7,668	323
Other financing activities	(737)	(1,850)
Net cash provided by (used in) financing activities	10,781	(6,610)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	5,287	6,966
Increase in cash, cash equivalents and restricted cash including cash classified within current held-for-sale assets	33,381	162,567
Change in cash classified within current held-for-sale assets	8,690	0
Increase in cash, cash equivalents and restricted cash	42,071	162,567
Cash, cash equivalents and restricted cash, beginning of period	539,846	409,939
Cash, cash equivalents and restricted cash, end of period	581,917	572,506
Supplemental disclosure of non-cash activities:
Right-of-use asset recognized with a corresponding lease liability	8,373	11,360
Purchase of property, plant and equipment	$ 4,934	$ 5,156

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 527,257	$ 455,075
Restricted cash	54,660	84,771
Marketable securities	19,685	38,097
Trade receivables, net of allowances of $28,909 and $17,224, respectively	211,874	267,441
Inventories, net	599,817	552,632
Prepaid expenses and other current assets	454,844	341,831
Total current assets	1,868,137	1,739,847
LONG-TERM ASSETS:
Property, plant and equipment, net	253,942	269,351
Operating lease right-of-use assets, net	49,879	48,178
Intangible assets, net	5,780	7,129
Goodwill	49,846	50,123
Other long-term assets	75,946	67,566
Total long-term assets	435,393	442,347
Total assets	2,303,530	2,182,194
CURRENT LIABILITIES:
Trade payables	460,141	271,983
Employees and payroll accruals	66,098	73,992
Warranty obligations	69,918	89,330
Deferred revenues and customers advances	49,326	70,371
Accrued expenses and other current liabilities	274,842	297,819
Total current liabilities	920,325	803,495
LONG-TERM LIABILITIES:
Convertible senior notes, net	332,332	331,561
Warranty obligations	238,979	268,559
Deferred revenues and customers advances	327,684	293,328
Finance lease liabilities	19,171	18,558
Operating lease liabilities	42,377	36,648
Other long-term liabilities	10,577	2,581
Total long-term liabilities	971,120	951,235
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS’ EQUITY:
Common stock of $0.0001 par value - Authorized: 125,000,000; Issued and outstanding: 61,512,619 and 60,360,154 shares as of June 30, 2026 and December 31, 2025, respectively	6	6
Additional paid-in capital	1,925,024	1,872,760
Accumulated other comprehensive income (loss)	8,813	(11,663)
Accumulated deficit	(1,521,758)	(1,433,639)
Total stockholders’ equity	412,085	427,464
Total liabilities and stockholders' equity	$ 2,303,530	$ 2,182,194