SolarEdge Reports Q2 Loss, Stock Drops 17.8% Pre-Market, 7% After-Hours

SolarEdge Technologies Inc. reported its second-quarter earnings, revealing a significant financial downturn. The company posted revenues of $265.4 million, with $241.2 million coming from its solar segment. Despite topping revenue estimates, SolarEdge experienced a GAAP gross margin of negative 4.1% and a GAAP net loss per share of $2.31. The non-GAAP net loss per share was $1.79, and the GAAP operating loss amounted to $160.2 million. These results led to a pre-market stock drop of 17.8% and an after-hours decline of 7%. The earnings missed estimates by $0.27. The CEO noted that undershipping is expected to continue into the third quarter.