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SolarEdge Technologies, Inc. (symbol: SEDG) is a leading global provider of distributed power harvesting and monitoring systems designed to optimize the energy output of solar photovoltaic (PV) installations. The company's innovative solutions include power optimizers, inverters, and a cloud-based monitoring platform that serves a wide array of market segments, including residential, commercial, and small utility-scale solar installations.
Established to address the need for more efficient and cost-effective solar energy systems, SolarEdge's technologies enable module-level monitoring, enhanced maintenance, and flexible design options. These benefits translate into faster installations, improved safety, theft prevention, and ultimately, lower costs for PV energy production. The company sells its products through multiple channels, including direct sales to solar installers and engineering, procurement, and construction firms, as well as indirect sales via distributors and electrical equipment wholesalers.
In recent years, SolarEdge has achieved significant milestones and formed numerous partnerships that have bolstered its market position. The company's robust financial condition, underscored by consistent revenue growth and a strong balance sheet, reflects its operational excellence and strategic vision. SolarEdge continues to innovate and expand its product offerings, ensuring it remains at the forefront of the solar energy industry.
Whether you are a residential homeowner, a commercial entity, or involved in small utility-scale installations, SolarEdge provides a comprehensive solution to maximize the value and efficiency of your solar PV system. The company's commitment to developing cutting-edge technology and maintaining high standards of customer service makes it a preferred choice for solar energy solutions worldwide.
SolarEdge Technologies (NASDAQ: SEDG) reported strong financial results for Q2 2021, achieving revenues of $480.1 million, an 18% increase from Q1 and a 45% increase year-over-year. The solar segment revenue reached $431.5 million, up 15% from the previous quarter. GAAP net income was $45.1 million with diluted EPS of $0.82. For Q3 2021, the company anticipates revenues between $520 million and $540 million, and expects non-GAAP gross margin between 32% and 34%.
Sunnova Energy International (NYSE: NOVA) announces a partnership with National Grid (NYSE: NGG) and SolarEdge (NASDAQ: SEDG) to enhance power quality in New England using its solar and storage assets. This collaboration aims to deliver over 150 GWh of clean energy annually, improving grid efficiency and reliability. The initiative supports National Grid’s Net Zero by 2050 goal and demonstrates the value of distributed energy resources (DERs) in reducing costs for consumers while ensuring efficient power delivery.
SolarEdge Technologies, Inc. (Nasdaq: SEDG) will announce its Q2 2021 financial results on August 2, 2021, after market close. A conference call hosted by management will follow at 4:30 PM ET to discuss the results. Interested parties can join the call via toll-free and international numbers provided in the press release. Additionally, a live webcast will be accessible in the Investor Relations section of their website, with a replay available for 30 days post-call. This announcement emphasizes SolarEdge's commitment to keeping its investors informed.
SolarEdge Technologies reported Q1 2021 revenues of $405.5 million, reflecting a 13% increase from Q4 2020 but a 6% decrease year-over-year. Solar product sales contributed $376.4 million, a 15% rise sequentially and 8% decline from last year. GAAP net income reached $30.1 million with a GAAP EPS of $0.55, while non-GAAP figures were $55.5 million and $0.98 respectively. The company expects Q2 2021 revenues between $445 million and $465 million.
SolarEdge Technologies (NASDAQ: SEDG) has announced the appointment of Ms. Betsy Atkins to its board of directors, effective June 1, 2021. This unanimous decision by the board highlights her extensive experience, having served on various public company boards, including Wynn Resorts and SunPower Corporation. Her broad perspective on energy is expected to contribute to SolarEdge's growth as a leader in smart energy solutions. Chairman Nadav Zafrir expressed confidence in her leadership, aligning with the company’s mission of innovation in the energy sector.
SolarEdge Technologies (NASDAQ: SEDG) will report its first quarter 2021 financial results on May 3, 2021, after the market closes. The management will host a conference call at 4:30 P.M. ET the same day to discuss these results.
Investors can participate in the live call by dialing 800-367-2403 (toll-free in the U.S.) or +1 334-777-6978 (international). A live webcast will also be available on SolarEdge's Investor Relations website, with a replay accessible two hours post-call for 30 days.
SolarEdge Technologies (NASDAQ: SEDG) has announced a strategic supply agreement with Sunrun (Nasdaq: RUN), a leading provider of residential solar systems. This agreement allows Sunrun to offer SolarEdge’s next-generation PV inverter, Energy Hub, to residential customers. Both companies aim to promote an electrified future by integrating smart energy devices, battery storage, and EV chargers. CEO Zivi Lando emphasized the importance of this partnership in enhancing home energy management, while Sunrun's CEO, Lynn Jurich, highlighted the potential for more affordable, reliable electricity powered by solar energy.
SolarEdge Technologies reported Q4 2020 revenues of $358.1 million, a 6% increase sequentially but a 14% decrease year-over-year. Solar product revenues reached $327.1 million. GAAP net income was $17.7 million, down 60% from Q3. For the full year, total revenues were $1.46 billion, a 2% increase from 2019, but both GAAP and non-GAAP earnings per share saw declines. Looking ahead, Q1 2021 revenues are projected to be between $385 million and $405 million.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) has been selected to supply full electrical powertrain units and batteries for the Fiat E-Ducato light commercial vehicle. This partnership with Stellantis marks a significant step as they introduce an electric version of the E-Ducato to Europe. SolarEdge's e-Mobility division, established through an acquisition in 2019, aims to expand its offerings beyond solar energy, responding to the growing demand for clean energy and e-mobility solutions. The company focuses on innovative powertrains and software for electric and hybrid vehicles.
SolarEdge Technologies, Inc. (Nasdaq: SEDG) will announce its financial results for Q4 and the full year ended December 31, 2020, after the market closes on February 16, 2021. A conference call to discuss these results is scheduled for the same day at 4:30 P.M. ET. Interested parties can join via a toll-free number for the U.S. and Canada or an international line. A live webcast will also be available on the company’s Investor Relations website, with a replay accessible afterwards for 30 days.
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