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SolarEdge’s shares plunged more than 20% the solar-equipment maker took a $1 billion writedown and warned margins for the current quarter will be non-existent or even negative https://t.co/DRrMcEUyL5
$SEDG | SolarEdge Technologies Q3 Earnings Highlights: 🔹 Revenue: $260.9M (Est. $272.8M) 🔴; DOWN -64% YoY 🔹 GAAP EPS: -$21.13; Non-GAAP EPS: -$15.33 (Est. -$1.65) 🔴 🔹 GAAP Net Loss: $1.21B vs. $61.2M loss YoY 🔹 Adjusted EBITDA: Not provided due to large write-downs and…
$SEDG Earnings: - Revenues of $260.9 million - Non-GAAP net loss per share of $15.3 - GAAP net loss per share of negative $21.1 - Revenues from solar segment of $247.5 million - GAAP gross margin of negative 269.2% “As SolarEdge weathers this difficult period in the Company’s… https://t.co/UzZnACJBP2
SolarEdge Technologies reported its third quarter 2024 financial results, revealing significant financial challenges. The company posted a GAAP net loss of $1.21 billion, compared to a $61.2 million loss year-over-year. Revenues for the quarter were $260.9 million, falling short of the estimated $272.8 million and representing a 64% decline year-over-year. The GAAP earnings per share (EPS) was a loss of $21.13, while the non-GAAP EPS was a loss of $15.33, both missing estimates. SolarEdge also reported a GAAP gross margin of negative 269.2% and took a $1 billion writedown. Revenues from the solar segment were $247.5 million. Consequently, the company's shares plunged more than 20%, and it warned that margins for the current quarter would be non-existent or even negative.
