SolarEdge Technologies reported significant losses in Q3 2024, with revenues declining 64% YoY to $260.9 million. The company recorded a GAAP net loss of $1.21 billion, largely due to $1.03 billion in asset impairments and write-downs. Solar segment revenues were $247.5 million, down 63% YoY.Operational metrics showed 850 Megawatts (AC) of inverters and 189 MWh of batteries shipped during the quarter. The company's cash position decreased to $53.3 million net of debt, compared to $165.3 million in the previous quarter. Gross margin turned severely negative at -269.2% GAAP and -265.4% non-GAAP.Looking ahead, SolarEdge provided Q4 2024 guidance with expected revenues between $180-200 million and non-GAAP gross margin between -4% to 0%. The company is focusing on three priorities: financial stability, recapturing market share, and refocusing on core solar and storage opportunities.

SolarEdge Technologies reported significant losses in Q3 2024, with revenues declining 64% YoY to $260.9 million. The company recorded a GAAP net loss of $1.21 billion, largely due to $1.03 billion in asset impairments and write-downs. Solar segment revenues were $247.5 million, down 63% YoY.Operational metrics showed 850 Megawatts (AC) of inverters and 189 MWh of batteries shipped during the quarter. The company's cash position decreased to $53.3 million net of debt, compared to $165.3 million in the previous quarter. Gross margin turned severely negative at -269.2% GAAP and -265.4% non-GAAP.Looking ahead, SolarEdge provided Q4 2024 guidance with expected revenues between $180-200 million and non-GAAP gross margin between -4% to 0%. The company is focusing on three priorities: financial stability, recapturing market share, and refocusing on core solar and storage opportunities.