2020 Q4 Form 10-Q Financial Statement

#000117891320002995 Filed on November 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $358.1M $338.1M $331.9M
YoY Change -14.37% -17.65% 2.1%
Cost Of Revenue $247.8M $230.0M $228.9M
YoY Change -9.89% -15.21% 6.79%
Gross Profit $110.3M $108.1M $103.0M
YoY Change -22.97% -22.4% -6.96%
Gross Profit Margin 30.8% 31.97% 31.03%
Selling, General & Admin $46.90M $36.85M $34.90M
YoY Change 32.49% 7.75% -2.55%
% of Gross Profit 42.52% 34.09% 33.9%
Research & Development $47.50M $40.82M $38.10M
YoY Change 36.1% 32.75% 29.12%
% of Gross Profit 43.06% 37.76% 37.0%
Depreciation & Amortization $8.400M $8.300M $7.900M
YoY Change 21.74% 18.57% 11.27%
% of Gross Profit 7.62% 7.68% 7.67%
Operating Expenses $94.40M $77.67M $73.00M
YoY Change -6.53% 152.61% 11.76%
Operating Profit $15.90M $30.39M $29.97M
YoY Change -62.32% -53.96% -33.93%
Interest Expense $10.40M $15.80M $11.60M
YoY Change -6.31% -192.94% 1350.0%
% of Operating Profit 65.41% 51.98% 38.71%
Other Income/Expense, Net $11.57M
YoY Change 1396.12%
Pretax Income $24.80M $46.16M $41.53M
YoY Change -59.74% -5.8% -9.96%
Income Tax $7.200M $2.408M $4.862M
% Of Pretax Income 29.03% 5.22% 11.71%
Net Earnings $17.70M $43.75M $36.67M
YoY Change -66.48% 5.1% 10.69%
Net Earnings / Revenue 4.94% 12.94% 11.05%
Basic Earnings Per Share $0.74
Diluted Earnings Per Share $332.1K $824.9K $0.70
COMMON SHARES
Basic Shares Outstanding 51.21M shares 50.53M shares 49.79M shares
Diluted Shares Outstanding 53.14M shares 52.54M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.031B $1.179B $544.8M
YoY Change 221.35% 248.21% 86.51%
Cash & Equivalents $827.1M $1.048B $428.4M
Short-Term Investments $143.7M $110.6M $113.0M
Other Short-Term Assets $138.0M $86.10M $82.00M
YoY Change -3.43% 23.35% 58.61%
Inventory $331.7M $297.0M $264.5M
Prepaid Expenses
Receivables $218.7M $183.1M $181.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.719B $1.745B $1.073B
YoY Change 84.33% 109.03% 46.88%
LONG-TERM ASSETS
Property, Plant & Equipment $303.4M $294.7M $263.4M
YoY Change 71.45% 96.89% 87.87%
Goodwill $140.5M
YoY Change 8.35%
Intangibles $67.82M
YoY Change -8.36%
Long-Term Investments $147.4M $21.00M $45.70M
YoY Change 14.18% -79.1% -48.13%
Other Assets $5.353M $5.609M $27.30M
YoY Change -45.95% -26.84% 222.89%
Total Long-Term Assets $717.8M $533.3M $532.8M
YoY Change 27.75% 6.07% 8.48%
TOTAL ASSETS
Total Short-Term Assets $1.719B $1.745B $1.073B
Total Long-Term Assets $717.8M $533.3M $532.8M
Total Assets $2.437B $2.278B $1.606B
YoY Change 63.06% 70.33% 31.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $162.1M $122.1M $158.3M
YoY Change 3.12% -7.66% 35.54%
Accrued Expenses $47.76M $152.4M $137.2M
YoY Change 19.88% 21.53% 29.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.90M $15.60M $15.30M
YoY Change 7.64% -7.69% -7.27%
Total Short-Term Liabilities $436.1M $382.5M $405.1M
YoY Change -0.14% 14.05% 37.89%
LONG-TERM LIABILITIES
Long-Term Debt $599.5M $570.3M $0.00
YoY Change 22957.69% 11538.78% -100.0%
Other Long-Term Liabilities $22.78M $18.70M $274.8M
YoY Change 94.17% 12.23% 1421.43%
Total Long-Term Liabilities $915.3M $863.7M $274.8M
YoY Change 271.69% 225.94% 10.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $436.1M $382.5M $405.1M
Total Long-Term Liabilities $915.3M $863.7M $274.8M
Total Liabilities $1.351B $1.246B $681.0M
YoY Change 97.87% 107.57% 25.73%
SHAREHOLDERS EQUITY
Retained Earnings $478.0M
YoY Change 41.55%
Common Stock $5.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.086B $1.032B $924.8M
YoY Change
Total Liabilities & Shareholders Equity $2.437B $2.278B $1.606B
YoY Change 63.06% 70.33% 31.44%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $17.70M $43.75M $36.67M
YoY Change -66.48% 5.1% 10.69%
Depreciation, Depletion And Amortization $8.400M $8.300M $7.900M
YoY Change 21.74% 18.57% 11.27%
Cash From Operating Activities $27.30M $28.30M $59.40M
YoY Change -67.15% -58.81% 17.16%
INVESTING ACTIVITIES
Capital Expenditures -$36.20M -$36.90M -$26.60M
YoY Change 10.03% 110.86% 129.31%
Acquisitions
YoY Change
Other Investing Activities -$201.1M $10.70M $73.50M
YoY Change 226.46% -5.31% -469.35%
Cash From Investing Activities -$237.3M -$26.20M $46.80M
YoY Change 151.11% 322.58% -248.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.200M 628.3M 5.700M
YoY Change -168.09% -69911.11% -108.8%
NET CHANGE
Cash From Operating Activities 27.30M 28.30M 59.40M
Cash From Investing Activities -237.3M -26.20M 46.80M
Cash From Financing Activities 3.200M 628.3M 5.700M
Net Change In Cash -206.8M 630.4M 111.9M
YoY Change 1184.47% 923.38% -345.39%
FREE CASH FLOW
Cash From Operating Activities $27.30M $28.30M $59.40M
Capital Expenditures -$36.20M -$36.90M -$26.60M
Free Cash Flow $63.50M $65.20M $86.00M
YoY Change -45.26% -24.36% 38.04%

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CY2020Q3 sedg Notes Due
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197984 shares
CY2019Q3 sedg Notes Due
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3220670 shares
sedg Notes Due
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65995 shares
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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019 us-gaap Business Combination Consideration Transferred Liabilities Incurred
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4900000 USD
CY2020Q3 us-gaap Current Income Tax Expense Benefit
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us-gaap Current Income Tax Expense Benefit
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CY2020Q3 sedg Deferred Income Tax And Others
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7525000 USD
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4922000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
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7270000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16192000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24405000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
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us-gaap Revenues
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CY2019Q3 us-gaap Operating Income Loss
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CY2020Q3 us-gaap Unrecognized Tax Benefits
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CY2020Q3 us-gaap Revenues
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CY2019Q3 us-gaap Revenues
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CY2020Q3 sedg Solar Segment Profit
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sedg Solar Segment Profit
SolarSegmentProfit
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SolarSegmentProfit
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CY2020Q3 sedg Segments Operating Profit
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50044000 USD
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CY2020Q3 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2019Q3 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
42993000 USD
us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2020Q3 us-gaap Adjustment For Amortization
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CY2020Q3 us-gaap Payments For Legal Settlements
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CY2019Q3 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
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us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
4900000 USD
us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
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CY2020Q3 sedg Cost Of Products Adjustment
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CY2019Q3 sedg Cost Of Products Adjustment
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sedg Cost Of Products Adjustment
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sedg Cost Of Products Adjustment
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CY2020Q3 sedg Other Unallocated Amounts
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CY2020Q3 sedg Non Recurring Expenses
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sedg Non Recurring Expenses
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sedg Non Recurring Expenses
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CY2020Q3 sedg Intersegment Profit
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CY2019Q3 sedg Intersegment Profit
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sedg Intersegment Profit
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sedg Intersegment Profit
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CY2020Q3 us-gaap Operating Income Loss
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30394000 USD
us-gaap Operating Income Loss
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128134000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
139418000 USD

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