2023 Q3 Form 10-Q Financial Statement
#000117891323002728 Filed on August 07, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| Revenue | $725.3M | $991.3M |
| YoY Change | -13.32% | 36.21% |
| Cost Of Revenue | $582.5M | $674.0M |
| YoY Change | -5.24% | 23.64% |
| Gross Profit | $142.8M | $317.3M |
| YoY Change | -35.67% | 73.73% |
| Gross Profit Margin | 19.69% | 32.01% |
| Selling, General & Admin | $79.46M | $80.17M |
| YoY Change | 12.46% | 19.48% |
| % of Gross Profit | 55.64% | 25.27% |
| Research & Development | $80.08M | $86.24M |
| YoY Change | 14.96% | 15.22% |
| % of Gross Profit | 56.07% | 27.18% |
| Depreciation & Amortization | $15.30M | $13.26M |
| YoY Change | 16.14% | 6.28% |
| % of Gross Profit | 10.71% | 4.18% |
| Operating Expenses | $159.5M | $166.9M |
| YoY Change | 15.95% | 13.86% |
| Operating Profit | -$16.73M | $150.4M |
| YoY Change | -119.82% | 317.52% |
| Interest Expense | -$7.900M | $3.384M |
| YoY Change | -76.08% | -123.65% |
| % of Operating Profit | 2.25% | |
| Other Income/Expense, Net | -$484.0K | $0.00 |
| YoY Change | -106.43% | -100.0% |
| Pretax Income | -$25.11M | $153.7M |
| YoY Change | -142.62% | 608.46% |
| Income Tax | $36.07M | $34.23M |
| % Of Pretax Income | 22.27% | |
| Net Earnings | -$61.18M | $119.5M |
| YoY Change | -347.25% | 692.3% |
| Net Earnings / Revenue | -8.43% | 12.06% |
| Basic Earnings Per Share | -$1.08 | $2.12 |
| Diluted Earnings Per Share | -$1.08 | $2.03 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 56.56M shares | 56.34M shares |
| Diluted Shares Outstanding | 56.67M shares | 59.18M shares |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.028B | $1.051B |
| YoY Change | 16.74% | 17.32% |
| Cash & Equivalents | $551.1M | $557.7M |
| Short-Term Investments | $477.3M | $493.2M |
| Other Short-Term Assets | $44.50M | $264.2M |
| YoY Change | -80.15% | 6.25% |
| Inventory | $1.178B | $984.2M |
| Prepaid Expenses | ||
| Receivables | $939.5M | $1.150B |
| Other Receivables | $173.3M | $0.00 |
| Total Short-Term Assets | $3.363B | $3.449B |
| YoY Change | 37.19% | 51.03% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $604.8M | $646.9M |
| YoY Change | 23.07% | 32.26% |
| Goodwill | $41.20M | $42.33M |
| YoY Change | -62.15% | -63.56% |
| Intangibles | $41.95M | $43.66M |
| YoY Change | -9.37% | -13.33% |
| Long-Term Investments | $436.1M | $435.8M |
| YoY Change | -36.68% | -38.58% |
| Other Assets | $36.10M | $78.77M |
| YoY Change | 130.87% | 146.37% |
| Total Long-Term Assets | $1.288B | $1.247B |
| YoY Change | -11.3% | -16.22% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $3.363B | $3.449B |
| Total Long-Term Assets | $1.288B | $1.247B |
| Total Assets | $4.651B | $4.697B |
| YoY Change | 19.15% | 24.49% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $399.3M | $434.6M |
| YoY Change | 28.15% | 71.51% |
| Accrued Expenses | $123.9M | $288.8M |
| YoY Change | 10.27% | 187.62% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $3.000M | $3.123M |
| YoY Change | ||
| Total Short-Term Liabilities | $876.7M | $897.7M |
| YoY Change | 26.23% | 46.65% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $667.0M | $668.1M |
| YoY Change | -0.33% | -0.23% |
| Other Long-Term Liabilities | $16.84M | $610.5M |
| YoY Change | 8.12% | 3310.37% |
| Total Long-Term Liabilities | $1.284B | $1.279B |
| YoY Change | 10.99% | 12.85% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $876.7M | $897.7M |
| Total Long-Term Liabilities | $1.284B | $1.279B |
| Total Liabilities | $2.161B | $2.176B |
| YoY Change | 16.71% | 24.7% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $940.5M | $1.002B |
| YoY Change | 30.09% | 43.46% |
| Common Stock | $6.000K | $6.000K |
| YoY Change | 0.0% | 0.0% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $2.490B | $2.520B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $4.651B | $4.697B |
| YoY Change | 19.15% | 24.49% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$61.18M | $119.5M |
| YoY Change | -347.25% | 692.3% |
| Depreciation, Depletion And Amortization | $15.30M | $13.26M |
| YoY Change | 16.14% | 6.28% |
| Cash From Operating Activities | $40.60M | -$88.71M |
| YoY Change | 630.48% | -214.59% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $46.50M | $55.74M |
| YoY Change | -240.06% | -214.51% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $2.800M | -$20.94M |
| YoY Change | -113.1% | -92.01% |
| Cash From Investing Activities | -$43.70M | -$76.67M |
| YoY Change | -19.94% | -75.33% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -1.200M | -4.919M |
| YoY Change | -5.59% | 25.2% |
| NET CHANGE | ||
| Cash From Operating Activities | 40.60M | -88.71M |
| Cash From Investing Activities | -43.70M | -76.67M |
| Cash From Financing Activities | -1.200M | -4.919M |
| Net Change In Cash | -4.300M | -170.3M |
| YoY Change | -91.45% | -28.24% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $40.60M | -$88.71M |
| Capital Expenditures | $46.50M | $55.74M |
| Free Cash Flow | -$5.900M | -$144.4M |
| YoY Change | -115.22% | -214.56% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
153742000 | usd |
| CY2023Q2 | us-gaap |
Deferred Revenue And Credits Current
DeferredRevenueAndCreditsCurrent
|
28135000 | usd |
| us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
77671000 | usd | |
| us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
21990000 | usd | |
| us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
17560000 | usd | |
| CY2023Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-06-30 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | ||
| CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
125000000 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
125000000 | shares |
| CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
56556340 | shares |
| CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
56556340 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
56133404 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
56133404 | shares |
| CY2023Q2 | sedg |
Other Operating Expenses Income Net
OtherOperatingExpensesIncomeNet
|
0 | usd |
| CY2022Q2 | sedg |
Other Operating Expenses Income Net
OtherOperatingExpensesIncomeNet
|
-4687000 | usd |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
150358000 | usd |
| CY2023Q2 | sedg |
Financial Income Expenses Net
FinancialIncomeExpensesNet
|
-3384000 | usd |
| CY2023Q2 | us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
0 | usd |
| CY2022Q2 | us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
0 | usd |
| us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
125000 | usd | |
| us-gaap |
Provision For Other Losses
ProvisionForOtherLosses
|
844000 | usd | |
| CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
119510000 | usd |
| CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.12 | |
| CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.03 | |
| CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
119510000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
257888000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
661000 | usd |
| us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
6838000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
|
316000 | usd |
| us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
|
-15000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-1935000 | usd |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-12735000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
730000 | usd |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
1589000 | usd | |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-228000 | usd |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-4323000 | usd | |
| CY2023Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
119282000 | usd |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
253565000 | usd | |
| CY2022Q1 | sedg |
Underwriters Discounts And Commissions
UnderwritersDiscountsAndCommissions
|
27140000 | usd |
| CY2022Q1 | sedg |
Offering Costs
OfferingCosts
|
834000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-43553000 | usd |
| sedg |
Proceeds From Governmental Grant
ProceedsFromGovernmentalGrant
|
6797000 | usd | |
| sedg |
Proceeds From Governmental Grant
ProceedsFromGovernmentalGrant
|
0 | usd | |
| CY2023Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
|
18346000 | usd |
| CY2023Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1820000 | usd |
| CY2022Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2619000 | usd |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
3238000 | usd | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
5277000 | usd | |
| CY2022Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
90104000 | usd |
| CY2023Q2 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
44015000 | usd |
| CY2023Q2 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
146150000 | usd |
| CY2023Q2 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
146150000 | usd |
| CY2023Q2 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
19000000 | usd |
| CY2022Q2 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
10595000 | usd |
| CY2023Q2 | us-gaap |
Deferred Revenue And Credits Current
DeferredRevenueAndCreditsCurrent
|
28135000 | usd |
| CY2022Q2 | us-gaap |
Deferred Revenue And Credits Current
DeferredRevenueAndCreditsCurrent
|
30460000 | usd |
| CY2022Q2 | us-gaap |
Deferred Revenue And Credits Current
DeferredRevenueAndCreditsCurrent
|
30460000 | usd |
| CY2023Q2 | us-gaap |
Contractual Obligation
ContractualObligation
|
1443251000 | usd |
| CY2023Q2 | us-gaap |
Provision For Loss On Contracts
ProvisionForLossOnContracts
|
8818000 | usd |
| CY2023Q2 | us-gaap |
Purchase Obligation
PurchaseObligation
|
132988000 | usd |
| CY2023Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-77432000 | usd |
| CY2022Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-89620000 | usd |
| CY2023Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-77432000 | usd |
| CY2022Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-89620000 | usd |
| CY2022Q2 | sedg |
Write Off Of Property Plant And Equipment
WriteOffOfPropertyPlantAndEquipment
|
679000 | usd |
| CY2023Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
0 | usd |
| CY2022Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
4687000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
119510000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
119510000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
120046000 | usd |
| CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.12 | |
| CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.03 | |
| CY2023Q2 | sedg |
Segments Operating Profit
SegmentsOperatingProfit
|
190951000 | usd |
| CY2022Q2 | sedg |
Segments Operating Profit
SegmentsOperatingProfit
|
84665000 | usd |
| sedg |
Segments Operating Profit
SegmentsOperatingProfit
|
374754000 | usd | |
| sedg |
Segments Operating Profit
SegmentsOperatingProfit
|
171855000 | usd | |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
150358000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
294512000 | usd | |
| ecd |
Trd Arr Adoption Date
TrdArrAdoptionDate
|
June 30, 2023 | ||
| ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | ||
| ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | ||
| ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | ||
| ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
