SolarEdge Announces First Quarter 2024 Financial Results
First Quarter 2024 Highlights
-
Revenues of
$204.4 million -
Revenues from solar segment of
$190.1 million - GAAP gross margin of negative 12.8%
- Non-GAAP gross margin1 of negative 6.5%, including 4.5% of net IRA benefit
- Gross margin from solar segment of negative 3.5%
-
GAAP operating loss of
$173.7 million -
Non-GAAP operating loss1 of
$122.5 million -
GAAP net loss of
$157.3 million -
Non-GAAP net loss1 of
$108.6 million -
GAAP net loss per share of
$2.75 -
Non-GAAP net loss per share1 of
$1.90 - 946 Megawatts (AC) of inverters shipped
- 128 MWh of batteries for PV applications shipped
“Our first quarter results were aligned with our expectations of inventory clearing and typical seasonality,” said
First Quarter 2024 Summary
The Company reported revenues of
Revenues from the solar segment were
GAAP gross margin was negative 12.8%, compared to negative 17.9% in the prior quarter and compared to 31.8% in the same quarter last year.
Non-GAAP gross margin1 was negative 6.5%, compared to non-GAAP gross margin of 3.3% in the prior quarter and compared to 32.6% in the same quarter last year.
Gross margin from the solar segment was negative 3.5%, compared to 4.0% in the prior quarter and compared to 35.0% in the same quarter last year.
GAAP operating expenses were
Non-GAAP operating expenses1 were
GAAP operating loss was
Non-GAAP operating loss1 was
GAAP net loss was
Non-GAAP net loss1 was
GAAP net loss per share was
Non-GAAP net loss per share1 was
Cash used in operating activities was
As of
In the first quarter of 2024, the company repurchased 506,000 shares of our common stock under our previously announced share repurchase program approved by the Board of Directors at an average price of
______________________________________________________________________ |
1 Non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. |
Outlook for the Second Quarter 2024
The Company also provides guidance for the second quarter ending
-
Revenues to be within the range of
$250 million to$280 million - Non-GAAP gross margin* expected to be within the range of negative 4% to 0%, including approximately 350 basis points of net IRA manufacturing tax credit
-
Non-GAAP operating expenses* to be within the range of
$116 million to$120 million -
Revenues from the solar segment to be within the range of
$225 million to$255 million - Gross margin from the solar segment expected to be within the range of negative 3% to positive 1% including approximately 420 basis points of net IRA manufacturing tax credit
*Non-GAAP gross margin and Non-GAAP operating expenses are non-GAAP financial measures, and these forward-looking measures have not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Non-GAAP gross margin and Non-GAAP operating expenses are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the
Conference Call
The Company will host a conference call to discuss its results for the first quarter ended
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, and grid services solutions. SolarEdge is online at www.solaredge.com.
Use of Non-GAAP Financial Measures
To provide investors and others with additional information regarding SolarEdge’s results, SolarEdge has disclosed in this earnings release the following non-GAAP financial measures: non-GAAP operating income (loss), non-GAAP operating expenses, non-GAAP gross margin, non-GAAP net income (loss), and non-GAAP net earnings (loss) per share. SolarEdge has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure below. These non-GAAP financial measures differ from GAAP in that they exclude stock-based compensation, amortization and impairment of acquired intangible assets, restructuring and impairment charges, acquisition, disposition and other items, certain litigation and other contingencies, amortization of debt issuance cost, non-cash interest expense and non-cash revenue recognized from significant financing component, certain foreign currency exchange rates, gains and losses on investments, income and losses from equity method investments and discrete items that impacted our GAAP tax rate. Our non-GAAP financial measures also reflect the application of our non-GAAP tax rate.
SolarEdge’s management uses these non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, to calculate bonus payments and to evaluate SolarEdge’s financial performance, the performance of its individual functional groups and the ability of operations to generate cash. Management believes these non-GAAP financial measures reflect SolarEdge’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in SolarEdge’s business, as they exclude charges and gains that are not reflective of ongoing operating results. Management also believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating SolarEdge’s operating results and future prospects from the same perspective as management and in comparing financial results across accounting periods.
The use of non-GAAP financial measures has certain limitations because they do not reflect all items of income and expense that affect SolarEdge’s operations. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP and should not be considered measures of SolarEdge’s liquidity. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Management encourages investors and others to review SolarEdge’s financial information in its entirety and not rely on a single financial measure.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this press release may contain forward-looking statements that are based on our management’s expectations, estimates, projections, beliefs and assumptions in accordance with information currently available to our management. This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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, new products and services, financing and investment plans, dividend policy, competitive position, industry and regulatory environment, general economic conditions, potential growth opportunities, cancellations and pushouts of existing backlog, installation rates, and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “seek,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or similar expressions and the negatives of those terms.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this release. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: future demand for renewable energy including solar energy solutions; our ability to forecast demand for our products accurately and to match production to such demand as well as our customers’ ability to forecast demand based on inventory levels; macroeconomic conditions in our domestic and international markets, as well as inflation concerns, rising interest rates, and recessionary concerns; changes, elimination or expiration of government subsidies and economic incentives for on-grid solar energy applications; changes in the
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (in thousands, except per share data) |
||||||||
|
|
Three Months Ended March 31, |
||||||
|
|
2024 |
|
2023 |
||||
|
|
Unaudited |
||||||
Revenues |
|
$ |
204,399 |
|
|
$ |
943,889 |
|
Cost of revenues |
|
|
230,586 |
|
|
|
643,763 |
|
Gross profit (loss) |
|
|
(26,187 |
) |
|
|
300,126 |
|
Operating expenses: |
|
|
|
|
||||
Research and development |
|
|
75,351 |
|
|
|
79,873 |
|
Sales and marketing |
|
|
38,911 |
|
|
|
40,966 |
|
General and administrative |
|
|
30,865 |
|
|
|
36,567 |
|
Other operating expense (income), net |
|
|
2,391 |
|
|
|
(1,434 |
) |
Total operating expenses |
|
|
147,518 |
|
|
|
155,972 |
|
Operating income (loss) |
|
|
(173,705 |
) |
|
|
144,154 |
|
Financial income (expense), net |
|
|
(7,064 |
) |
|
|
23,674 |
|
Other loss, net |
|
|
— |
|
|
|
(125 |
) |
Income (loss) before income taxes |
|
|
(180,769 |
) |
|
|
167,703 |
|
Tax benefits (income taxes) |
|
|
23,754 |
|
|
|
(29,325 |
) |
Net loss from equity method investments |
|
|
(296 |
) |
|
|
— |
|
Net income (loss) |
|
$ |
(157,311 |
) |
|
$ |
138,378 |
|
CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) |
||||||||
|
2024 |
|
2023 |
|||||
ASSETS |
|
|
|
|
||||
CURRENT ASSETS: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
214,229 |
|
|
$ |
338,468 |
|
Marketable securities |
|
|
466,407 |
|
|
|
521,570 |
|
Trade receivables, net of allowances of |
|
|
404,390 |
|
|
|
622,425 |
|
Inventories, net |
|
|
1,549,122 |
|
|
|
1,443,449 |
|
Prepaid expenses and other current assets |
|
|
354,919 |
|
|
|
378,394 |
|
Total current assets |
|
|
2,989,067 |
|
|
|
3,304,306 |
|
LONG-TERM ASSETS: |
|
|
|
|
||||
Marketable securities |
|
|
268,203 |
|
|
|
407,825 |
|
Deferred tax assets, net |
|
|
122,564 |
|
|
|
80,912 |
|
Property, plant and equipment, net |
|
|
605,223 |
|
|
|
614,579 |
|
Operating lease right-of-use assets, net |
|
|
59,474 |
|
|
|
64,167 |
|
Intangible assets, net |
|
|
33,037 |
|
|
|
35,345 |
|
|
|
|
41,470 |
|
|
|
42,996 |
|
Other long-term assets |
|
|
47,784 |
|
|
|
37,601 |
|
Total long-term assets |
|
|
1,177,755 |
|
|
|
1,283,425 |
|
Total assets |
|
|
4,166,822 |
|
|
|
4,587,731 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
||||
CURRENT LIABILITIES: |
|
|
|
|
||||
Trade payables, net |
|
|
171,412 |
|
|
|
386,471 |
|
Employees and payroll accruals |
|
|
73,666 |
|
|
|
76,966 |
|
Warranty obligations |
|
|
181,333 |
|
|
|
183,047 |
|
Deferred revenues and customers advances |
|
|
36,081 |
|
|
|
40,836 |
|
Accrued expenses and other current liabilities |
|
|
196,398 |
|
|
|
205,911 |
|
Total current liabilities |
|
|
658,890 |
|
|
|
893,231 |
|
LONG-TERM LIABILITIES: |
|
|
|
|
||||
Convertible senior notes, net |
|
|
628,115 |
|
|
|
627,381 |
|
Warranty obligations |
|
|
321,166 |
|
|
|
335,197 |
|
Deferred revenues |
|
|
218,535 |
|
|
|
214,607 |
|
Finance lease liabilities |
|
|
40,630 |
|
|
|
41,892 |
|
Operating lease liabilities |
|
|
40,982 |
|
|
|
45,070 |
|
Other long-term liabilities |
|
|
17,953 |
|
|
|
18,444 |
|
Total long-term liabilities |
|
|
1,267,381 |
|
|
|
1,282,591 |
|
COMMITMENTS AND CONTINGENT LIABILITIES |
|
|
|
|
||||
STOCKHOLDERS’ EQUITY: |
|
|
|
|
||||
Common stock of |
|
|
6 |
|
|
|
6 |
|
Additional paid-in capital |
|
|
1,719,523 |
|
|
|
1,680,622 |
|
|
|
|
(33,222 |
) |
|
|
— |
|
Accumulated other comprehensive loss |
|
|
(66,611 |
) |
|
|
(46,885 |
) |
Retained earnings |
|
|
620,855 |
|
|
|
778,166 |
|
Total stockholders’ equity |
|
|
2,240,551 |
|
|
|
2,411,909 |
|
Total liabilities and stockholders’ equity |
|
$ |
4,166,822 |
|
|
$ |
4,587,731 |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, except per share data) |
||||||||
|
|
Three Months Ended March 31, |
||||||
|
|
2024 |
|
2023 |
||||
Cash flows from operating activities: |
|
|
|
|
||||
Net income (loss) |
|
$ |
(157,311 |
) |
|
$ |
138,378 |
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
14,988 |
|
|
|
13,464 |
|
Loss (gain) from exchange rate fluctuations |
|
|
7,799 |
|
|
|
(20,441 |
) |
Stock-based compensation expenses |
|
|
37,606 |
|
|
|
39,235 |
|
Deferred income taxes, net |
|
|
(41,847 |
) |
|
|
(3,930 |
) |
Other items |
|
|
4,371 |
|
|
|
2,810 |
|
Changes in assets and liabilities: |
|
|
|
|
||||
Trade receivables, net |
|
|
210,376 |
|
|
|
(55,002 |
) |
Inventories, net |
|
|
(105,810 |
) |
|
|
(141,521 |
) |
Prepaid expenses and other assets |
|
|
42,164 |
|
|
|
(20,591 |
) |
Right-of-use assets |
|
|
5,255 |
|
|
|
3,918 |
|
Trade payables, net |
|
|
(210,449 |
) |
|
|
(50,410 |
) |
Employees and payroll accruals |
|
|
(2,460 |
) |
|
|
10,227 |
|
Warranty obligations |
|
|
(15,582 |
) |
|
|
57,864 |
|
Deferred revenues and customers advances |
|
|
(523 |
) |
|
|
9,325 |
|
Operating lease liabilities |
|
|
(5,219 |
) |
|
|
(3,958 |
) |
Accrued expenses and other liabilities, net |
|
|
(377 |
) |
|
|
28,555 |
|
Net cash provided by (used in) operating activities |
|
|
(217,019 |
) |
|
|
7,923 |
|
Cash flows from investing activities: |
|
|
|
|
||||
Investment in available-for-sale marketable securities |
|
|
(129,221 |
) |
|
|
(38,979 |
) |
Proceeds from sales and maturities of available-for-sale marketable securities |
|
|
319,605 |
|
|
|
11,597 |
|
Purchase of property, plant and equipment |
|
|
(26,347 |
) |
|
|
(38,338 |
) |
Disbursements for loans receivables |
|
|
(7,500 |
) |
|
|
— |
|
Investment in privately-held companies |
|
|
(8,831 |
) |
|
|
(5,500 |
) |
Proceeds from loan receivables |
|
|
1,625 |
|
|
|
— |
|
Other investing activities |
|
|
(323 |
) |
|
|
3,440 |
|
Net cash provided by (used in) investing activities |
|
|
149,008 |
|
|
|
(67,780 |
) |
Cash flows from financing activities: |
|
|
|
|
||||
Repurchase of common stock |
|
|
(33,222 |
) |
|
|
— |
|
Payments on account of repurchase of common stock |
|
|
(16,778 |
) |
|
|
— |
|
Tax withholding in connection with stock-based awards, net |
|
|
(470 |
) |
|
|
(4,541 |
) |
Other financing activities |
|
|
(517 |
) |
|
|
(681 |
) |
Net cash used in financing activities |
|
|
(50,987 |
) |
|
|
(5,222 |
) |
|
|
|
|
|
||||
Effect of exchange rate differences on cash and cash equivalents |
|
|
(5,241 |
) |
|
|
9,816 |
|
|
|
|
|
|
||||
Decrease in cash and cash equivalents |
|
|
(124,239 |
) |
|
|
(55,263 |
) |
Cash and cash equivalents at the beginning of the period |
|
|
338,468 |
|
|
|
783,112 |
|
Cash and cash equivalents at the end of the period |
|
$ |
214,229 |
|
|
$ |
727,849 |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) |
|||||||||||||||||||||||||||||||
Three months ended |
|
Year ended |
|||||||||||||||||||||||||||||
|
2024 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2021 |
||||||||||||||||
Gross profit (loss) (GAAP) |
$ |
(26,187 |
) |
|
$ |
(56,425 |
) |
|
$ |
142,817 |
|
|
$ |
317,305 |
|
|
$ |
300,126 |
|
|
$ |
703,823 |
|
|
$ |
844,648 |
|
|
$ |
629,318 |
|
Revenues from finance component |
|
(234 |
) |
|
|
(230 |
) |
|
|
(215 |
) |
|
|
(202 |
) |
|
|
(187 |
) |
|
|
(834 |
) |
|
|
(614 |
) |
|
|
(418 |
) |
Discontinued operation |
|
(434 |
) |
|
|
36,648 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
36,648 |
|
|
|
4,314 |
|
|
|
— |
|
Stock-based compensation |
|
5,968 |
|
|
|
5,468 |
|
|
|
5,882 |
|
|
|
5,923 |
|
|
|
5,927 |
|
|
|
23,200 |
|
|
|
21,818 |
|
|
|
18,743 |
|
Amortization of stock-based compensation capitalized in inventories |
|
197 |
|
|
|
343 |
|
|
|
441 |
|
|
|
316 |
|
|
|
— |
|
|
|
1,100 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired asset |
|
1,551 |
|
|
|
1,555 |
|
|
|
2,096 |
|
|
|
872 |
|
|
|
1,515 |
|
|
|
6,038 |
|
|
|
7,429 |
|
|
|
9,326 |
|
Restructuring charges |
|
5,822 |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
Gross profit (loss) (Non-GAAP) |
$ |
(13,317 |
) |
|
$ |
10,513 |
|
|
$ |
151,021 |
|
|
$ |
324,214 |
|
|
$ |
307,381 |
|
|
$ |
793,129 |
|
|
$ |
877,595 |
|
|
$ |
656,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Gross margin (loss) (GAAP) |
|
(12.8 |
)% |
|
|
(17.9 |
)% |
|
|
19.7 |
% |
|
|
32.0 |
% |
|
|
31.8 |
% |
|
|
23.6 |
% |
|
|
27.2 |
% |
|
|
32.0 |
% |
Revenues from finance component |
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
0.0 |
|
Discontinued operation |
|
(0.2 |
) |
|
|
11.6 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1.2 |
|
|
|
0.1 |
|
|
|
— |
|
Stock-based compensation |
|
2.9 |
|
|
|
1.8 |
|
|
|
0.8 |
|
|
|
0.6 |
|
|
|
0.6 |
|
|
|
0.9 |
|
|
|
0.7 |
|
|
|
1.0 |
|
Amortization of stock-based compensation capitalized in inventories |
|
0.1 |
|
|
|
0.1 |
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
— |
|
|
|
0.0 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired asset |
|
0.8 |
|
|
|
0.5 |
|
|
|
0.3 |
|
|
|
0.1 |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
|
0.5 |
|
Restructuring charges |
|
2.8 |
|
|
|
7.3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.8 |
|
|
|
— |
|
|
|
— |
|
Gross margin (loss) (Non-GAAP) |
|
(6.5 |
)% |
|
|
3.3 |
% |
|
|
20.8 |
% |
|
|
32.7 |
% |
|
|
32.6 |
% |
|
|
26.7 |
% |
|
|
28.2 |
% |
|
|
33.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Operating expenses (GAAP) |
$ |
147,518 |
|
|
$ |
181,156 |
|
|
$ |
159,543 |
|
|
$ |
166,947 |
|
|
$ |
155,972 |
|
|
$ |
663,618 |
|
|
$ |
678,528 |
|
|
$ |
422,179 |
|
Stock-based compensation - R&D |
|
(17,139 |
) |
|
|
(15,982 |
) |
|
|
(16,481 |
) |
|
|
(17,272 |
) |
|
|
(17,209 |
) |
|
|
(66,944 |
) |
|
|
(63,211 |
) |
|
|
(45,424 |
) |
Stock-based compensation - S&M |
|
(7,911 |
) |
|
|
(7,347 |
) |
|
|
(7,739 |
) |
|
|
(7,822 |
) |
|
|
(8,079 |
) |
|
|
(30,987 |
) |
|
|
(31,017 |
) |
|
|
(22,834 |
) |
Stock-based compensation - G&A |
|
(6,588 |
) |
|
|
(6,133 |
) |
|
|
(6,713 |
) |
|
|
(7,948 |
) |
|
|
(8,020 |
) |
|
|
(28,814 |
) |
|
|
(29,493 |
) |
|
|
(15,592 |
) |
Amortization and depreciation of acquired assets - R&D |
|
(270 |
) |
|
|
(58 |
) |
|
|
(329 |
) |
|
|
(289 |
) |
|
|
(313 |
) |
|
|
(989 |
) |
|
|
(1,206 |
) |
|
|
(530 |
) |
Amortization and depreciation of acquired assets - S&M |
|
(124 |
) |
|
|
(190 |
) |
|
|
(321 |
) |
|
|
(235 |
) |
|
|
(181 |
) |
|
|
(927 |
) |
|
|
(822 |
) |
|
|
(927 |
) |
Amortization and depreciation of acquired assets - G&A |
|
(2 |
) |
|
|
(2 |
) |
|
|
(4 |
) |
|
|
17 |
|
|
|
(26 |
) |
|
|
(15 |
) |
|
|
(21 |
) |
|
|
(29 |
) |
Discontinued operation |
|
47 |
|
|
|
(388 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(388 |
) |
|
|
— |
|
|
|
— |
|
Restructuring charges |
|
(3,943 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Assets impairment |
|
(1,732 |
) |
|
|
(30,790 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(30,790 |
) |
|
|
(119,141 |
) |
|
|
(2,209 |
) |
Gain (loss) from assets sales and disposal |
|
(1,058 |
) |
|
|
(172 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,434 |
|
|
|
1,262 |
|
|
|
2,603 |
|
|
|
976 |
|
Certain litigation and other contingencies |
|
399 |
|
|
|
(1,786 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,786 |
) |
|
|
— |
|
|
|
— |
|
Acquisition costs |
|
(9 |
) |
|
|
— |
|
|
|
— |
|
|
|
(135 |
) |
|
|
— |
|
|
|
(135 |
) |
|
|
(350 |
) |
|
|
— |
|
Operating expenses (Non-GAAP) |
$ |
109,188 |
|
|
$ |
118,308 |
|
|
$ |
127,956 |
|
|
$ |
133,263 |
|
|
$ |
123,578 |
|
|
$ |
503,105 |
|
|
$ |
435,870 |
|
|
$ |
335,610 |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) |
|||||||||||||||||||||||||||||||
|
Three months ended |
|
Year ended |
||||||||||||||||||||||||||||
|
2024 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2021 |
||||||||||||||||
Operating income (loss) (GAAP) |
$ |
(173,705 |
) |
|
$ |
(237,581 |
) |
|
$ |
(16,726 |
) |
|
$ |
150,358 |
|
|
$ |
144,154 |
|
|
$ |
40,205 |
|
|
$ |
166,120 |
|
|
$ |
207,139 |
|
Revenues from finance component |
|
(234 |
) |
|
|
(230 |
) |
|
|
(215 |
) |
|
|
(202 |
) |
|
|
(187 |
) |
|
|
(834 |
) |
|
|
(614 |
) |
|
|
(418 |
) |
Discontinued operation |
|
(481 |
) |
|
|
37,036 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37,036 |
|
|
|
4,314 |
|
|
|
— |
|
Stock-based compensation |
|
37,606 |
|
|
|
34,930 |
|
|
|
36,815 |
|
|
|
38,965 |
|
|
|
39,235 |
|
|
|
149,945 |
|
|
|
145,539 |
|
|
|
102,593 |
|
Amortization of stock-based compensation capitalized in inventories |
|
197 |
|
|
|
343 |
|
|
|
441 |
|
|
|
316 |
|
|
|
— |
|
|
|
1,100 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired assets |
|
1,947 |
|
|
|
1,805 |
|
|
|
2,750 |
|
|
|
1,379 |
|
|
|
2,035 |
|
|
|
7,969 |
|
|
|
9,478 |
|
|
|
10,812 |
|
Restructuring charges |
|
9,765 |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
Assets impairment |
|
1,732 |
|
|
|
30,790 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,790 |
|
|
|
119,141 |
|
|
|
2,209 |
|
Loss (gain) from assets sales and disposal |
|
1,058 |
|
|
|
172 |
|
|
|
— |
|
|
|
— |
|
|
|
(1,434 |
) |
|
|
(1,262 |
) |
|
|
(2,603 |
) |
|
|
(976 |
) |
Certain litigation and other contingencies |
|
(399 |
) |
|
|
1,786 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,786 |
|
|
|
— |
|
|
|
— |
|
Acquisition costs |
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
135 |
|
|
|
— |
|
|
|
135 |
|
|
|
350 |
|
|
|
— |
|
Operating income (loss) (Non-GAAP) |
$ |
(122,505 |
) |
|
$ |
(107,795 |
) |
|
$ |
23,065 |
|
|
$ |
190,951 |
|
|
$ |
183,803 |
|
|
$ |
290,024 |
|
|
$ |
441,725 |
|
|
$ |
321,359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Financial income (expense), net (GAAP) |
$ |
(7,064 |
) |
|
$ |
22,055 |
|
|
$ |
(7,901 |
) |
|
$ |
3,384 |
|
|
$ |
23,674 |
|
|
$ |
41,212 |
|
|
$ |
3,750 |
|
|
$ |
(19,915 |
) |
Non cash interest expense |
|
3,536 |
|
|
|
3,422 |
|
|
|
3,284 |
|
|
|
3,105 |
|
|
|
2,892 |
|
|
|
12,703 |
|
|
|
9,954 |
|
|
|
8,674 |
|
Unrealized losses (gains) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
119 |
|
|
|
(541 |
) |
Currency fluctuation related to lease standard |
|
(1,276 |
) |
|
|
4,359 |
|
|
|
(2,788 |
) |
|
|
(2,107 |
) |
|
|
(2,519 |
) |
|
|
(3,055 |
) |
|
|
(11,187 |
) |
|
|
2,007 |
|
Financial income (expense), net (Non-GAAP) |
$ |
(4,804 |
) |
|
$ |
29,836 |
|
|
$ |
(7,405 |
) |
|
$ |
4,382 |
|
|
$ |
24,047 |
|
|
$ |
50,860 |
|
|
$ |
2,636 |
|
|
$ |
(9,775 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Other income (loss) (GAAP) |
$ |
— |
|
|
$ |
291 |
|
|
$ |
(484 |
) |
|
$ |
— |
|
|
$ |
(125 |
) |
|
$ |
(318 |
) |
|
$ |
7,285 |
|
|
$ |
— |
|
Loss (gain) from sale of investments |
|
— |
|
|
|
(291 |
) |
|
|
484 |
|
|
|
— |
|
|
|
— |
|
|
|
193 |
|
|
|
(8,008 |
) |
|
|
— |
|
Other loss (Non-GAAP) |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(125 |
) |
|
$ |
(125 |
) |
|
$ |
(723 |
) |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Tax benefits (income taxes) (GAAP) |
$ |
23,754 |
|
|
$ |
53,202 |
|
|
$ |
(36,065 |
) |
|
$ |
(34,232 |
) |
|
$ |
(29,325 |
) |
|
$ |
(46,420 |
) |
|
$ |
(83,376 |
) |
|
$ |
(18,054 |
) |
Uncertain tax positions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(9,007 |
) |
Income tax adjustment |
|
(5,062 |
) |
|
|
(27,699 |
) |
|
|
(10,561 |
) |
|
|
(3,735 |
) |
|
|
(3,901 |
) |
|
|
(45,896 |
) |
|
|
(9,067 |
) |
|
|
(11,639 |
) |
Tax benefits (income taxes) (Non-GAAP) |
$ |
18,692 |
|
|
$ |
25,503 |
|
|
$ |
(46,626 |
) |
|
$ |
(37,967 |
) |
|
$ |
(33,226 |
) |
|
$ |
(92,316 |
) |
|
$ |
(92,443 |
) |
|
$ |
(38,700 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Equity method investments loss (GAAP) |
$ |
(296 |
) |
|
$ |
(350 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(350 |
) |
|
$ |
— |
|
|
$ |
— |
|
Loss from equity method investments |
|
296 |
|
|
|
350 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
350 |
|
|
|
— |
|
|
|
— |
|
Equity method investments loss (Non-GAAP) |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) |
|||||||||||||||||||||||||||||||
Three months ended |
|
Year ended |
|||||||||||||||||||||||||||||
|
2024 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2021 |
||||||||||||||||
Net income (loss) (GAAP) |
$ |
(157,311 |
) |
|
$ |
(162,383 |
) |
|
$ |
(61,176 |
) |
|
$ |
119,510 |
|
|
$ |
138,378 |
|
|
$ |
34,329 |
|
|
$ |
93,779 |
|
|
$ |
169,170 |
|
Revenues from finance component |
|
(234 |
) |
|
|
(230 |
) |
|
|
(215 |
) |
|
|
(202 |
) |
|
|
(187 |
) |
|
|
(834 |
) |
|
|
(614 |
) |
|
|
(418 |
) |
Discontinued operation |
|
(481 |
) |
|
|
37,036 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37,036 |
|
|
|
4,314 |
|
|
|
— |
|
Stock-based compensation |
|
37,606 |
|
|
|
34,930 |
|
|
|
36,815 |
|
|
|
38,965 |
|
|
|
39,235 |
|
|
|
149,945 |
|
|
|
145,539 |
|
|
|
102,593 |
|
Amortization of stock-based compensation capitalized in inventories |
|
197 |
|
|
|
343 |
|
|
|
441 |
|
|
|
316 |
|
|
|
— |
|
|
|
1,100 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired assets |
|
1,947 |
|
|
|
1,805 |
|
|
|
2,750 |
|
|
|
1,379 |
|
|
|
2,035 |
|
|
|
7,969 |
|
|
|
9,478 |
|
|
|
10,812 |
|
Restructuring charges |
|
9,765 |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
23,154 |
|
|
|
— |
|
|
|
— |
|
Assets impairment |
|
1,732 |
|
|
|
30,790 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,790 |
|
|
|
119,141 |
|
|
|
2,209 |
|
Loss (gain) from assets sales and disposal |
|
1,058 |
|
|
|
172 |
|
|
|
— |
|
|
|
— |
|
|
|
(1,434 |
) |
|
|
(1,262 |
) |
|
|
(2,603 |
) |
|
|
(976 |
) |
Certain litigation and other contingencies |
|
(399 |
) |
|
|
1,786 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,786 |
|
|
|
— |
|
|
|
— |
|
Acquisition costs |
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
135 |
|
|
|
— |
|
|
|
135 |
|
|
|
350 |
|
|
|
— |
|
Non cash interest expense |
|
3,536 |
|
|
|
3,422 |
|
|
|
3,284 |
|
|
|
3,105 |
|
|
|
2,892 |
|
|
|
12,703 |
|
|
|
9,954 |
|
|
|
8,674 |
|
Unrealized losses (gains) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
119 |
|
|
|
(541 |
) |
Currency fluctuation related to lease standard |
|
(1,276 |
) |
|
|
4,359 |
|
|
|
(2,788 |
) |
|
|
(2,107 |
) |
|
|
(2,519 |
) |
|
|
(3,055 |
) |
|
|
(11,187 |
) |
|
|
2,007 |
|
Loss (gain) from sale of investments |
|
— |
|
|
|
(291 |
) |
|
|
484 |
|
|
|
— |
|
|
|
— |
|
|
|
193 |
|
|
|
(8,008 |
) |
|
|
— |
|
Uncertain tax positions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(9,007 |
) |
Income tax adjustment |
|
(5,062 |
) |
|
|
(27,699 |
) |
|
|
(10,561 |
) |
|
|
(3,735 |
) |
|
|
(3,901 |
) |
|
|
(45,896 |
) |
|
|
(9,067 |
) |
|
|
(11,639 |
) |
Equity method adjustments |
|
296 |
|
|
|
350 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
350 |
|
|
|
— |
|
|
|
— |
|
Net income (loss) (Non-GAAP) |
$ |
(108,617 |
) |
|
$ |
(52,456 |
) |
|
$ |
(30,966 |
) |
|
$ |
157,366 |
|
|
$ |
174,499 |
|
|
$ |
248,443 |
|
|
$ |
351,195 |
|
|
$ |
272,884 |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) |
|||||||||||||||||||||||||||||||
Three months ended |
|
Year ended |
|||||||||||||||||||||||||||||
|
2024 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2021 |
||||||||||||||||
Net basic earnings (loss) per share (GAAP) |
$ |
(2.75 |
) |
|
$ |
(2.85 |
) |
|
$ |
(1.08 |
) |
|
$ |
2.12 |
|
|
$ |
2.46 |
|
|
$ |
0.61 |
|
|
$ |
1.70 |
|
|
$ |
3.24 |
|
Revenues from finance component |
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
0.00 |
|
|
|
(0.01 |
) |
|
|
0.00 |
|
|
|
(0.02 |
) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
Discontinued operation |
|
(0.01 |
) |
|
|
0.65 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.66 |
|
|
|
0.08 |
|
|
|
— |
|
Stock-based compensation |
|
0.66 |
|
|
|
0.62 |
|
|
|
0.65 |
|
|
|
0.70 |
|
|
|
0.70 |
|
|
|
2.65 |
|
|
|
2.64 |
|
|
|
1.97 |
|
Amortization of stock-based compensation capitalized in inventories |
|
0.01 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
— |
|
|
|
0.02 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired assets |
|
0.03 |
|
|
|
0.04 |
|
|
|
0.05 |
|
|
|
0.03 |
|
|
|
0.03 |
|
|
|
0.14 |
|
|
|
0.17 |
|
|
|
0.21 |
|
Restructuring charges |
|
0.17 |
|
|
|
0.40 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.41 |
|
|
|
— |
|
|
|
— |
|
Assets impairment |
|
0.03 |
|
|
|
0.54 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.54 |
|
|
|
2.17 |
|
|
|
0.05 |
|
Loss (gain) from assets sales and disposal |
|
0.02 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
(0.02 |
) |
|
|
(0.02 |
) |
|
|
(0.02 |
) |
|
|
(0.03 |
) |
Certain litigation and other contingencies |
|
(0.01 |
) |
|
|
0.03 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.03 |
|
|
|
— |
|
|
|
— |
|
Acquisition costs |
|
0.00 |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
— |
|
|
|
0.00 |
|
|
|
(0.02 |
) |
|
|
— |
|
Non cash interest expense |
|
0.06 |
|
|
|
0.06 |
|
|
|
0.06 |
|
|
|
0.05 |
|
|
|
0.05 |
|
|
|
0.23 |
|
|
|
0.18 |
|
|
|
0.16 |
|
Unrealized losses (gains) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
Currency fluctuation related to lease standard |
|
(0.02 |
) |
|
|
0.07 |
|
|
|
(0.05 |
) |
|
|
(0.03 |
) |
|
|
(0.05 |
) |
|
|
(0.06 |
) |
|
|
(0.20 |
) |
|
|
0.04 |
|
Loss (gain) from sale of investments |
|
— |
|
|
|
0.00 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
0.01 |
|
|
|
(0.14 |
) |
|
|
— |
|
Uncertain tax positions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.17 |
) |
Income tax adjustment |
|
(0.09 |
) |
|
|
(0.49 |
) |
|
|
(0.19 |
) |
|
|
(0.07 |
) |
|
|
(0.07 |
) |
|
|
(0.81 |
) |
|
|
(0.16 |
) |
|
|
(0.22 |
) |
Equity method adjustments |
|
0.01 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
— |
|
|
|
— |
|
Net basic earnings (loss) per share (Non-GAAP) |
$ |
(1.90 |
) |
|
$ |
(0.92 |
) |
|
$ |
(0.55 |
) |
|
$ |
2.79 |
|
|
$ |
3.10 |
|
|
$ |
4.39 |
|
|
$ |
6.38 |
|
|
$ |
5.23 |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in thousands, except per share data and percentages) |
|||||||||||||||||||||||||||||||
Three months ended |
|
Year ended |
|||||||||||||||||||||||||||||
|
2024 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2021 |
||||||||||||||||
Net diluted earnings (loss) per share (GAAP) |
$ |
(2.75 |
) |
|
$ |
(2.85 |
) |
|
$ |
(1.08 |
) |
|
$ |
2.03 |
|
|
$ |
2.35 |
|
|
$ |
0.60 |
|
|
$ |
1.65 |
|
|
$ |
3.06 |
|
Revenues from finance component |
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
0.00 |
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
Discontinued operation |
|
(0.01 |
) |
|
|
0.65 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.64 |
|
|
|
0.08 |
|
|
|
— |
|
Stock-based compensation |
|
0.66 |
|
|
|
0.62 |
|
|
|
0.65 |
|
|
|
0.62 |
|
|
|
0.62 |
|
|
|
2.57 |
|
|
|
2.43 |
|
|
|
1.77 |
|
Amortization of stock-based compensation capitalized in inventories |
|
0.01 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
— |
|
|
|
0.02 |
|
|
|
— |
|
|
|
— |
|
Amortization and depreciation of acquired assets |
|
0.03 |
|
|
|
0.04 |
|
|
|
0.05 |
|
|
|
0.03 |
|
|
|
0.03 |
|
|
|
0.14 |
|
|
|
0.16 |
|
|
|
0.19 |
|
Restructuring charges |
|
0.17 |
|
|
|
0.40 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.40 |
|
|
|
— |
|
|
|
— |
|
Assets impairment |
|
0.03 |
|
|
|
0.54 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.53 |
|
|
|
2.02 |
|
|
|
0.04 |
|
Loss (gain) from assets sales and disposal |
|
0.02 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
(0.02 |
) |
|
|
(0.02 |
) |
|
|
(0.02 |
) |
|
|
(0.02 |
) |
Certain litigation and other contingencies |
|
(0.01 |
) |
|
|
0.03 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.16 |
) |
|
|
— |
|
|
|
— |
|
Acquisition costs |
|
0.00 |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
— |
|
|
|
0.01 |
|
|
|
(0.02 |
) |
|
|
— |
|
Non cash interest expense |
|
0.06 |
|
|
|
0.06 |
|
|
|
0.06 |
|
|
|
0.04 |
|
|
|
0.04 |
|
|
|
0.21 |
|
|
|
0.13 |
|
|
|
0.12 |
|
Unrealized losses (gains) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
(0.01 |
) |
Currency fluctuation related to lease standard |
|
(0.02 |
) |
|
|
0.07 |
|
|
|
(0.05 |
) |
|
|
(0.03 |
) |
|
|
(0.04 |
) |
|
|
(0.05 |
) |
|
|
(0.19 |
) |
|
|
0.03 |
|
Loss (gain) from sale of investments |
|
— |
|
|
|
0.00 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
(0.13 |
) |
|
|
— |
|
Uncertain tax positions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.16 |
) |
Income tax adjustment |
|
(0.09 |
) |
|
|
(0.49 |
) |
|
|
(0.19 |
) |
|
|
(0.06 |
) |
|
|
(0.07 |
) |
|
|
(0.76 |
) |
|
|
(0.15 |
) |
|
|
(0.20 |
) |
Equity method adjustments |
|
0.01 |
|
|
|
0.01 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.00 |
|
|
|
— |
|
|
|
— |
|
Net diluted earnings (loss) per share (Non-GAAP) |
$ |
(1.90 |
) |
|
$ |
(0.92 |
) |
|
$ |
(0.55 |
) |
|
$ |
2.62 |
|
|
$ |
2.90 |
|
|
$ |
4.12 |
|
|
$ |
5.95 |
|
|
$ |
4.81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Number of shares used in computing net diluted earnings (loss) per share (GAAP) |
|
57,140,126 |
|
|
|
56,916,831 |
|
|
|
56,671,504 |
|
|
|
59,183,666 |
|
|
|
59,193,831 |
|
|
|
57,237,518 |
|
|
|
55,087,770 |
|
|
|
55,971,030 |
|
Stock-based compensation |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
986,527 |
|
|
|
939,571 |
|
|
|
725,859 |
|
|
|
963,373 |
|
|
|
773,636 |
|
Notes due 2025 |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,276,818 |
|
|
|
— |
|
|
|
— |
|
Number of shares used in computing net diluted earnings (loss) per share (Non-GAAP) |
|
57,140,126 |
|
|
|
56,916,831 |
|
|
|
56,671,504 |
|
|
|
60,170,193 |
|
|
|
60,133,402 |
|
|
|
60,240,195 |
|
|
|
56,051,143 |
|
|
|
56,744,666 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240508816959/en/
Investor Contacts
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investors@solaredge.com
Sapphire Investor Relations, LLC
investors@solaredge.com
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