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     649  0 Kommentare SolarEdge Announces First Quarter 2021 Financial Results

    SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2021.

    First Quarter 2021 Highlights

    • Revenues of $405.5 million
    • Revenues from solar products of $376.4 million
    • GAAP gross margin of 34.5%
    • Non-GAAP gross margin of 36.5%
    • GAAP gross margin from sale of solar products of 38.3%
    • Record non-GAAP gross margin from sale of solar products of 39.7%
    • GAAP net income of $30.1 million
    • Non-GAAP net income of $55.5 million
    • GAAP net diluted earnings per share (“EPS”) of $0.55
    • Non-GAAP net diluted EPS of $0.98
    • 1.69 Gigawatts (AC) of inverters shipped

    “We are happy to report our first quarter results, representing continued growth in our solar business across geographies and segments,” said Zvi Lando, CEO of SolarEdge. “We are particularly pleased with our operational performance this quarter, which will enable us to meet the continued increase in demand for our residential and commercial products worldwide. This quarter, we also began delivering full powertrain kits for the e-Mobility sector in Europe in line with our growth strategy beyond solar.”

    First Quarter 2021 Summary

    The Company reported revenues of $405.5 million, up 13% from $358.1 million in the prior quarter and down 6% from $431.2 million in the same quarter last year.

    Revenues related to the sale of solar products were $376.4 million, up 15% from $327.1 million in the prior quarter and down 8% from $407.6 million in the same quarter last year.

    GAAP gross margin was 34.5%, up from 30.8% in the prior quarter and up from 32.5% year over year.

    Non-GAAP gross margin was 36.5%, up from 32.5% in the prior quarter and up from 33.6% year over year.

    GAAP gross margin from the sale of solar products was 38.3%, up from 35.3% in the prior quarter and up from 34.6% year over year.

    Non-GAAP gross margin from the sale of solar products was 39.7%, up from 36.2% in the prior quarter and up from 35.0% year over year.

    GAAP operating expenses were $95.9 million, flat with $95.9 million in the prior quarter and up 33% from $72.2 million in the same quarter last year.

    Non-GAAP operating expenses were $76.2 million, up 4% from $72.9 million in the prior quarter and up 15% from $66.3 million in the same quarter last year.

    GAAP operating income was $44.1 million, up 206% from $14.4 million in the prior quarter and down 35% from $67.8 million in the same quarter last year.

    Non-GAAP operating income was $71.9 million, up 65% from $43.5 million in the prior quarter and down 9% from $78.6 million in the same quarter last year.

    GAAP net income was $30.1 million, up 70% from $17.7 million in the prior quarter and down 29% from $42.2 million in the same quarter last year.

    Non-GAAP net income was $55.5 million, compared to $55.7 million in the prior quarter and up 10% from $50.7 million in the same quarter last year.

    GAAP EPS was $0.55, up from $0.33 in the prior quarter and down from $0.81 in the same quarter last year.

    Non-GAAP net diluted EPS was $0.98, flat with $0.98 in the prior quarter and up from $0.95 in the same quarter last year.

    Cash flow from operating activities was $24.1 million, down from $27.2 million in the prior quarter and down from $107.7 million in the same quarter last year.

    As of March 31, 2021, cash, cash equivalents, bank deposits, restricted bank deposit and marketable securities totaled $515.2 million, net of debt, compared to $530.2 million on December 31, 2020.

    Outlook for the Second Quarter 2021

    The Company also provides guidance for the second quarter ending June 30, 2021 as follows:

    • Revenues to be within the range of $445 million to $465 million
    • Non-GAAP gross margin expected to be within the range of 32% to 34%
    • Revenues from solar products to be within the range of $405 million to $420 million
    • Non-GAAP gross margin from sale of solar products expected to be within the range of 36% to 38%

    Conference Call

    The Company will host a conference call to discuss these results at 4:30 p.m. ET on Monday, May 3, 2021. The call will be available, live, to interested parties by dialing 800-367-2403. For international callers, please dial +1 334-777-6978. The Conference ID number is 5167186. A live webcast will also be available in the Investor Relations section of the Company’s website at: http://investors.solaredge.com

    A replay of the webcast will be available in the Investor Relations section of the Company’s web site approximately two hours after the conclusion of the call and will remain available for approximately 30 calendar days.

    About SolarEdge

    SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com

    Use of Non-GAAP Financial Measures

    The Company has presented certain non-GAAP financial measures in this release, such as non-GAAP net income, non-GAAP net diluted EPS, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income and non-GAAP gross margin from sale of solar products. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States, or GAAP. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this release. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

    The Company uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. The Company believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

    This release contains forward looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information, among other things, concerning: our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory environment; general economic conditions; potential growth opportunities; and the effects of competition. These forward-looking statements are often characterized by the use of words such as “anticipate,” “believe,” “could,” “seek,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or similar expressions and the negative or plural of those terms and other like terminology.

    Forward-looking statements are only predictions based on our current expectations and our projections about future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Given these factors, you should not place undue reliance on these forward-looking statements. These factors include, but are not limited to, the matters discussed in the section entitled “Risk Factors” of our Annual Report on Form 10-K/A for the year ended December 31, 2020, filed on February 19, 2021 and our quarterly reports filed on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC. All information set forth in this release is as of May 3, 2021. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

    SOLAREDGE TECHNOLOGIES INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands)

     

     

     

    Three months ended
    March 31,

     

     

    2021

     

    2020

     

     

    Unaudited

     

     

     

     

     

    Revenues

     

    $

    405,489

     

    $

    431,218

     

    Cost of revenues

     

     

    265,415

     

     

    291,910

     

     

     

     

     

     

    Gross profit

     

     

    140,074

     

     

    140,008

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

    Research and development

     

     

    46,977

     

     

    36,695

     

    Sales and marketing

     

     

    26,911

     

     

    24,253

     

    General and administrative

     

     

    19,849

     

     

    16,185

     

    Other operating expenses (income), net

     

     

    2,209

     

     

    (4,900

    )

     

     

     

     

     

    Total operating expenses

     

     

    95,946

     

     

    72,233

     

     

     

     

     

     

    Operating income

     

     

    44,128

     

     

    67,775

     

     

     

     

     

     

    Financial expenses, net

     

     

    6,097

     

     

    16,605

     

     

     

     

     

     

    Income before income taxes

     

     

    38,031

     

     

    51,170

     

     

     

     

     

     

    Income taxes

     

     

    7,955

     

     

    8,922

     

     

     

     

     

     

    Net income

     

    $

    30,076

     

    $

    42,248

     

     

     

     

     

     

    SOLAREDGE TECHNOLOGIES INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)

       

     

     

    March 31,

     

    December 31,

     

     

    2021

     

    2020

    CURRENT ASSETS:

     

     

     

     

     

    Cash and cash equivalents

     

    $

    685,157

     

     

    $

    827,146

     

    Short-term bank deposits

     

     

    43,626

     

     

     

    60,096

     

    Restricted bank deposits

     

     

    2,509

     

     

     

    2,611

     

    Marketable securities

     

     

    139,079

     

     

     

    143,687

     

    Trade receivables, net of allowances of $3,576 and $2,886, respectively

     

     

    271,713

     

     

     

    218,706

     

    Inventories, net

     

     

    340,038

     

     

     

    331,696

     

    Prepaid expenses and other current assets

     

     

    102,985

     

     

     

    135,399

     

    Total current assets

     

     

    1,585,107

     

     

     

    1,719,341

     

     

     

     

     

     

     

    LONG-TERM ASSETS:

     

     

     

     

     

    Marketable securities

     

     

    294,828

     

     

     

    147,434

     

    Deferred tax assets, net

     

     

    17,353

     

     

     

    11,676

     

    Property, plant and equipment, net

     

     

    312,214

     

     

     

    303,408

     

    Operating lease right-of-use assets, net

     

     

    39,804

     

     

     

    41,600

     

    Intangible assets, net

     

     

    64,196

     

     

     

    67,818

     

    Goodwill

     

     

    134,620

     

     

     

    140,479

     

    Other long-term assets

     

     

    16,473

     

     

     

    5,353

     

    Total long-term assets

     

     

    879,488

     

     

     

    717,768

     

     

     

     

     

     

     

    Total assets

     

    $

    2,464,595

     

     

    $

    2,437,109

     

     

     

     

     

     

     

    CURRENT LIABILITIES:

     

     

     

     

     

    Trade payables, net

     

    $

    122,063

     

     

    $

    162,051

     

    Employees and payroll accruals

     

     

    63,929

     

     

     

    63,738

     

    Current maturities of bank loans and accrued interest

     

     

    16,215

     

     

     

    16,894

     

    Warranty obligations

     

     

    63,443

     

     

     

    62,614

     

    Deferred revenues and customers advances

     

     

    21,065

     

     

     

    24,648

     

    Accrued expenses and other current liabilities

     

     

    111,011

     

     

     

    106,154

     

    Total current liabilities

     

     

    397,726

     

     

     

    436,099

     

     

     

     

     

     

     

    LONG-TERM LIABILITIES:

     

     

     

     

     

    Convertible senior notes, net

     

     

    619,357

     

     

     

    573,350

     

    Warranty obligations

     

     

    154,510

     

     

     

    142,380

     

    Deferred revenues

     

     

    122,168

     

     

     

    115,372

     

    Deferred tax liabilities, net

     

     

    -

     

     

     

    8,593

     

    Finance lease liabilities

     

     

    24,918

     

     

     

    26,173

     

    Operating lease liabilities

     

     

    32,667

     

     

     

    35,194

     

    Other long-term liabilities

     

     

    13,325

     

     

     

    14,191

     

    Total long-term liabilities

     

     

    966,945

     

     

     

    915,253

     

     

     

     

     

     

     

    STOCKHOLDERS’ EQUITY:

     

     

     

     

     

    Common stock

     

     

    5

     

     

     

    5

     

    Additional paid-in capital

     

     

    595,716

     

     

     

    603,891

     

    Accumulated other comprehensive income (loss)

     

     

    (6,761

    )

     

     

    3,857

     

    Retained earnings

     

     

    510,964

     

     

     

    478,004

     

    Total stockholders’ equity

     

     

    1,099,924

     

     

     

    1,085,757

     

     

     

     

     

     

     

    Total liabilities and stockholders’ equity

     

    $

    2,464,595

     

     

    $

    2,437,109

     
       

    SOLAREDGE TECHNOLOGIES INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)

     

     

     

    Three months ended
    March 31,

     

     

    2021

     

    2020

    Cash flows provided by operating activities:

     

     

     

    Net income

     

    $

    30,076

     

     

    $

    42,248

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

    Depreciation of property, plant and equipment

     

     

    6,887

     

     

     

    5,004

     

    Amortization of intangible assets

     

     

    2,391

     

     

     

    2,321

     

    Amortization of debt discount and debt issuance costs

     

     

    724

     

     

     

    -

     

    Amortization of premium and accretion of discount on available-for-marketable

    securities, net

     

     

    1,295

     

     

     

    120

     

    Stock-based compensation expenses

     

     

    23,153

     

     

     

    12,773

     

    Deferred income taxes, net

     

     

    (2,141

    )

     

     

    (2,859

    )

    Loss from disposal of assets

     

     

    2,147

     

     

     

    6

     

    Exchange rate fluctuations and other items, net

     

     

    13,303

     

     

     

    (1,018

    )

    Changes in assets and liabilities:

     

     

     

     

    Inventories, net

     

     

    (8,376

    )

     

     

    (29,004

    )

    Prepaid expenses and other assets

     

     

    20,218

     

     

     

    49,888

     

    Trade receivables, net

     

     

    (57,380

    )

     

     

    59,420

     

    Trade payables, net

     

     

    (39,034

    )

     

     

    (17,589

    )

    Employees and payroll accruals

     

     

    7,477

     

     

     

    11,821

     

    Warranty obligations

     

     

    13,088

     

     

     

    13,809

     

    Deferred revenues and customers advances

     

     

    3,615

     

     

     

    (31,729

    )

    Other liabilities

     

     

    6,640

     

     

     

    (7,466

    )

    Net cash provided by operating activities

     

     

    24,083

     

     

     

    107,745

     

    Cash flows from investing activities:

     

     

     

     

    Investment in available-for-sale marketable securities

     

     

    (186,528

    )

     

     

    (31,924

    )

    Proceed from maturities of available-for-sale marketable securities

     

     

    40,450

     

     

     

    42,333

     

    Purchase of property, plant and equipment

     

     

    (24,545

    )

     

     

    (27,053

    )

    Withdrawal from (investment in) bank deposits, net

     

     

    16,470

     

     

     

    (3,316

    )

    Other investing activities

     

     

    571

     

     

     

    36

     

    Net cash used in investing activities

     

     

    (153,582

    )

     

     

    (19,924

    )

    Cash flows from financing activities:

     

     

     

     

    Repayment of bank loans

     

     

    (34

    )

     

     

    (15,232

    )

    Proceeds from bank loans

     

     

    -

     

     

     

    15,295

     

    Proceeds from exercise of stock-based awards net of tax withholding

     

     

    (1,716

    )

     

     

    3,308

     

    Other financing activities

     

     

    (312

    )

     

     

    (56

    )

    Net cash provided by (used in) financing activities

     

     

    (2,062

    )

     

     

    3,315

     

    Increase (decrease) in cash and cash equivalents

     

     

    (131,561

    )

     

     

    91,136

     

    Cash and cash equivalents at the beginning of the period

     

     

    827,146

     

     

     

    223,901

     

    Effect of exchange rate differences on cash and cash equivalents

     

     

    (10,428

    )

     

     

    9,035

     

    Cash and cash equivalents at the end of the period

     

    $

    685,157

     

     

    $

    324,072

    SOLAREDGE TECHNOLOGIES INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)
    (In thousands, except share and per share data)

     

    Reconciliation of GAAP to Non-GAAP Gross Profit

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Gross profit (GAAP)

    140,074

     

    110,325

     

    140,008

    Revenues from finance component

    (86)

     

    ----

     

    ----

    Stock-based compensation

    5,790

     

    3,720

     

    2,273

    Cost of product adjustment

     

    ----

     

    ----

     

    313

    Amortization and depreciation of acquired assets

    2,312

     

    2,374

     

    2,356

    Gross profit (Non-GAAP)

    148,090

     

    116,419

     

    144,950

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP Gross Margin

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Gross margin (GAAP)

    34.5%

     

    30.8%

     

    32.5%

    Revenues from finance component

    0.0%

     

    ----

     

    ----

    Stock-based compensation

     

    1.4%

     

    1.0%

     

    0.5%

    Cost of product adjustment

    ----

     

    ----

     

    0.1%

    Amortization and depreciation of acquired assets

    0.6%

     

    0.7%

     

    0.5%

    Gross margin (Non-GAAP)

    36.5%

     

    32.5%

     

    33.6%

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP Operating expenses

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Operating expenses (GAAP)

    95,946

     

    95,898

     

    72,233

    Stock-based compensation - R&D

    (8,798)

     

    (8,919)

     

    (5,378)

    Stock-based compensation - S&M

    (5,435)

     

    (8,710)

     

    (3,192)

    Stock-based compensation - G&A

    (3,130)

     

    (2,967)

     

    (1,930)

    Amortization and depreciation of acquired assets - R&D

    (12)

     

    (14)

     

    (26)

    Amortization and depreciation of acquired assets - S&M

    (237)

     

    (230)

     

    (295)

    Amortization and depreciation of acquired assets - G&A

    (8)

     

    (8)

     

    (9)

    Assets sale (disposal)

    62

     

    (649)

     

    ----

    Other operating income (expenses)

    (2,209)

     

    (1,471)

     

    4,900

    Operating expenses (Non-GAAP)

    76,179

     

    72,930

     

    66,303

    SOLAREDGE TECHNOLOGIES INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)
    (In thousands, except share and per share data)

     

    Reconciliation of GAAP to Non-GAAP Operating income

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Operating income (GAAP)

    44,128

     

    14,427

     

    67,775

    Revenues from finance component

    (86)

     

    ----

     

    ----

    Cost of product adjustment

    ----

     

    ----

     

    313

    Stock-based compensation

    23,153

     

    24,316

     

    12,773

    Amortization and depreciation of acquired assets

    2,569

     

    2,626

     

    2,686

    Assets (sale) disposal

    (62)

     

    649

     

    ----

    Other operating (income) expenses

    2,209

     

    1,471

     

    (4,900)

    Operating income (Non-GAAP)

    71,911

     

    43,489

     

    78,647

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP
    Financial expenses (income), net

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Financial expenses (income), net (GAAP)

    6,097

     

    (10,380)

     

    16,605

    Notes due 2025

    (724)

     

    (3,017)

     

    ----

    Non cash interest

    (1,336)

     

    (1,305)

     

    (1,128)

    Currency fluctuation related to lease standard

    2,289

     

    (2,172)

     

    1,033

    Amortization and depreciation of acquired assets

    ----

     

    ----

     

    (982)

    Financial expenses (income), net (Non-GAAP)

    6,326

     

    (16,874)

     

    15,528

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP Tax on income

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Tax on income (GAAP)

    7,955

     

    7,152

     

    8,922

    Deferred taxes

    2,141

     

    (2,522)

     

    3,536

    Tax on income (Non-GAAP)

    10,096

     

    4,630

     

    12,458

    SOLAREDGE TECHNOLOGIES INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)
    (In thousands, except share and per share data)

     

    Reconciliation of GAAP to Non-GAAP Net income

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Net income (GAAP)

    30,076

     

    17,655

     

    42,248

    Revenues from finance component

    (86)

     

    ----

     

    ----

    Cost of product adjustment

    ----

     

    ----

     

    313

    Stock-based compensation

    23,153

     

    24,316

     

    12,773

    Amortization and depreciation of acquired assets

    2,569

     

    2,626

     

    3,668

    Assets (sale) disposal

    (62)

     

    649

     

    ----

    Other operating (income) expenses

    2,209

     

    1,471

     

    (4,900)

    Notes due 2025

    724

     

    3,017

     

    ----

    Non cash interest

    1,336

     

    1,305

     

    1,128

    Currency fluctuation related to lease standard

    (2,289)

     

    2,172

     

    (1,033)

    Deferred taxes

    (2,141)

     

    2,522

     

    (3,536)

    Net income (Non GAAP)

    55,489

     

    55,733

     

    50,661

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP Net basic EPS

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Net basic earnings per share (GAAP)

    0.58

     

    0.34

     

    0.86

    Revenues from finance component

    0.00

     

    ----

     

    ----

    Cost of product adjustment

    ----

     

    ----

     

    0.01

    Stock-based compensation

    0.45

     

    0.48

     

    0.25

    Amortization and depreciation of acquired assets

    0.05

     

    0.05

     

    0.08

    Assets (sale) disposal

    0.00

     

    0.01

     

    ----

    Other operating (income) expenses

    0.04

     

    0.03

     

    (0.10)

    Notes due 2025

    0.01

     

    0.06

     

    ----

    Non cash interest

    0.03

     

    0.02

     

    0.02

    Currency fluctuation related to lease standard

    (0.05)

     

    0.05

     

    (0.02)

    Deferred taxes

    (0.04)

     

    0.05

     

    (0.07)

    Net basic earnings per share (Non-GAAP)

    1.07

     

    1.09

     

    1.03

    SOLAREDGE TECHNOLOGIES INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)
    (In thousands, except share and per share data)

     

    Reconciliation of GAAP to Non-GAAP Net diluted EPS

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Net diluted earnings per share (GAAP)

    0.55

     

    0.33

     

    0.81

    Revenues from finance component

    0.00

     

    ----

     

    ----

    Cost of product adjustment

     

    ----

     

    ----

     

    0.01

    Stock-based compensation

    0.40

     

    0.44

     

    0.21

    Amortization and depreciation of acquired assets

    0.04

     

    0.05

     

    0.07

    Assets (sale) disposal

     

    0.00

     

    0.01

     

    ----

    Other operating (income) expenses

     

    0.04

     

    0.03

     

    (0.09)

    Notes due 2025

    0.00

     

    0.02

     

    ----

    Non cash interest

    0.03

     

    0.02

     

    0.02

    Currency fluctuation related to lease standard

    (0.04)

     

    0.04

     

    (0.02)

    Deferred taxes

    (0.04)

     

    0.04

     

    (0.06)

    Net diluted earnings per share (Non-GAAP)

    0.98

     

    0.98

     

    0.95

     

     

     

     

     

    Reconciliation of GAAP to Non-GAAP
    No. of shares used in Net diluted EPS

    Three months ended

    March 31, 2021

     

    December 31, 2020

     

    March 31, 2020

    Number of shares used in computing net diluted earnings per share (GAAP)

    55,997,136

     

    53,496,384

     

    52,172,720

    Stock-based compensation

    766,187

     

    865,179

     

    1,399,732

    Notes due 2025

    ----

     

    2,276,818

     

    ----

    Number of shares used in computing net diluted earnings per share (Non-GAAP)

    56,763,323

     

    56,638,381

     

    53,572,452

     



    Business Wire (engl.)
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    SolarEdge Announces First Quarter 2021 Financial Results SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2021. First Quarter 2021 Highlights Revenues of $405.5 million Revenues from solar …

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