Form 8-K

8-K — SOLAREDGE TECHNOLOGIES, INC.

Accession: 0001178913-26-002404

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001419612

SIC: 3674 (SEMICONDUCTORS & RELATED DEVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — zk2635207.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (exhibit_99-1.htm)

GRAPHIC (image00001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: zk2635207.htm · Sequence: 1

false0001419612NASDAQ00014196122026-05-062026-05-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): May 6, 2026

SOLAREDGE TECHNOLOGIES, INC

(Exact name of registrant as specified in its charter)

Delaware

001-36894

20-5338862

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1 Hamada Street,

Herziliya Pituach, Israel

4673335

(Address of Principal executive offices)

(Zip Code)

Registrant’s Telephone number, including area code: 972 (9) 957-6620

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.0001 per share

SEDG

Nasdaq (Global Select Market)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions (see General Instructions A.2 below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 6, 2026, SolarEdge Technologies, Inc. (the “Company”) issued a press release announcing its financial results for the

first quarter of 2026, ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, this information, including the exhibits hereto, shall not be deemed “filed”

for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information, including the exhibits hereto be deemed incorporated by reference in

any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

Exhibit No.

Description

Exhibit 99.1

Press release May 6,

2026

Exhibit 104

Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be

signed on its behalf by the undersigned hereunto duly authorized.

SOLAREDGE TECHNOLOGIES, INC.

Date: May 6, 2026

By: /s/ Asaf Alperovitz

Name: Asaf Alperovitz

Title: Chief Financial

Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: exhibit_99-1.htm · Sequence: 2

Exhibit 99.1

SolarEdge Announces First Quarter 2026 Financial Results

MILPITAS, Calif. — May 6, 2026.

SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the first quarter ended March 31, 2026.

“Our first quarter results reflect strong execution, continued innovation, and business acceleration, with 46% year-over-year revenue

growth and a sixth consecutive quarter of margin expansion,” said Shuki Nir, CEO of SolarEdge. “At the midpoint of our Q2 outlook, we expect to be close to breakeven operating profitability. With a return to profitability in sight, we have

shifted decisively to offense and are focused on rolling out the SolarEdge Nexis platform and advancing our AI data-center power roadmap.”

First Quarter 2026 Summary

The Company reported revenues of $310.5 million, down 7.4% from $335.4 million in the prior quarter.

Non-GAAP revenues1 were $309.9 million, down 7.1% from $333.8 million the prior quarter.

First quarter revenue does not include significant one-time or pull forward of revenue from safe harbor nor from the 25D rush towards

the end of the year.

During the quarter approximately 50.5 thousand inverters, 2.4 million optimizers and 331 MWh of batteries for PV applications were

recognized as revenue.

GAAP gross margin was 22.0%, compared to 22.2% in the prior quarter.

Non-GAAP gross margin1 was 23.5%, compared to 23.3% in the prior quarter.

GAAP operating expenses were $123.3 million, compared to $122.8 million in the prior quarter.

Non-GAAP operating expenses1 were $97.7 million, compared to $88.7 million in the prior quarter. Excluding a one-time

expense of approximately $14 million, our operating expenses were approximately $84 million.

GAAP operating loss was $55.0 million, compared to $48.3 million in the prior quarter.

Non-GAAP operating loss1 was $24.8 million, compared to $11.0 million in the prior quarter. Excluding a one-time expense of

approximately $14 million, our operating loss was approximately $11 million, approximately flat with the prior quarter.

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.

GAAP net loss was $57.4 million, compared to $132.1 million in the prior quarter.

Non-GAAP net loss1 was $26.3 million, compared to $8.2 million in the prior quarter. Excluding a one-time expense of

approximately $14 million, our net loss was approximately $11.9 million.

GAAP net loss per share was $0.95, compared to $2.21 in the prior quarter.

Non-GAAP net loss per share1 was $0.43, compared to $0.14 in the prior quarter. Excluding a one-time expense of

approximately $14 million, our net loss per share was approximately $0.20.

Cash flow from operating activities was $24.4 million, compared with $52.6 million in the prior quarter.

Free cash flow1 generated was $20.7 million, compared to $43.3 million in the prior quarter.

As of March 31, 2026, our cash and investments portfolio, net of debt, grew by $2.0 million to $246.2 million, compared to $244.2

million as of December 31, 2025.

Outlook for the Second Quarter 2026

The Company also provides guidance for the second quarter ending June 30, 2026 as follows:

•

Revenues to be within the range of $325 million to $355 million; this range does not include significant one-time or pull forward of revenue.

•

Non-GAAP gross margin* expected to be within the range of 23% to 27%

•

Non-GAAP operating expenses* to be within the range of $86 million to $91

million.

*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 SEC.

Conference Call

The Company will host a conference call to discuss its results for the first quarter ended March 31, 2026 at 8:00 a.m. ET on Wednesday,

May 6, 2026. The call will be available, live, to interested parties by dialing +1 800-225-9448. For international callers, please dial +1 203-518-9708. The Conference ID is SEDG. To avoid a delay in connecting to the call, please dial in 10 minutes prior to the start time. A live webcast will also be available in the Investors 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,

batteries, EV charging, smart energy management, 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 revenue, non-GAAP operating income (loss), non-GAAP operating expenses, non-GAAP gross margin, non-GAAP net income (loss), non-GAAP net earnings (loss) per share, and non-GAAP net free

cash flow. 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 contains 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, return to positive

free cash flow generation, 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; goodwill impairment; the effects of competition; tariff impacts and the impacts of the One Big Beautiful

Bill Act. 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: our ability to be profitable in the future; the rapidly evolving and competitive nature of the solar industry; changes in tax laws, tax treaties, and regulations or the interpretation of them, including the

Inflation Reduction Act and the H.R.1; future demand for renewable energy including solar energy solutions; our ability to maintain a return to free cash flow positive generation; macroeconomic conditions in our domestic and international

markets, as well as inflation concerns, rising interest rates and recessionary concerns; changes in the U.S. and global trade environments, including the imposition and/or increase of import tariffs or other restrictive trade measures; the retail

price of electricity derived from the utility grid or alternative energy sources; 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; interest rates and supply of capital in the global financial markets in general and in the PV market specifically; competition, including introductions of power optimizer, inverter, EV chargers, batteries and PV system

monitoring products by our competitors; the retail price of electricity derived from the utility grid or alternative energy sources; developments in alternative technologies or improvements in distributed solar energy generation; historic

cyclicality of the solar industry and periodic downturns; product quality or performance problems in our products; changes in our geographic footprint or product and service offerings; our dependence upon a small number of outside contract

manufacturers and limited or single source suppliers; delays, disruptions, and quality control problems in manufacturing; shortages, delays, price changes, or cessation of operations or production affecting our suppliers of key components;

capacity constraints, delivery schedules, manufacturing yields, and costs of our contract manufacturers and availability of components; changing political, geopolitical conditions, and the conditions of the global energy market; performance of

distributors and large installers in selling our products; consolidation in the solar industry among our customers and distributors; our ability to implement our new Enterprise Resource Planning ("ERP") system; our ability to successfully operate

our global operations with a reduced work force; our ability to recognize expected benefits from restructuring plans; any unauthorized access to, disclosure, or theft of confidential or personal information or unauthorized access to our network

or other similar cyber incidents; attempts by third parties, our employees, or our vendors might gain unauthorized access to our network or seek to compromise our products and services; emerging issues related to the development and use of

artificial intelligence; loss of key executives, and our ability to retain key personnel and attract additional qualified personnel; disruption to our business operations due to the evolving conflict in Israel and other conditions in Israel that

affect our operations; tax benefits that are available to us under Israeli law require us to meet various conditions and may be terminated or reduced in the future; difficulty to enforce a judgment of a U.S. court against our officers and

directors, to assert U.S. securities laws claims in Israel; our dependence on ocean transportation to timely deliver our products in a cost-effective manner; fluctuations in global currency exchange rates; the impact of evolving legal and

regulatory requirements, including corporate social responsibility and sustainability requirements; existing and future responses to and effects of pandemics, epidemics or other health crises; reduction, elimination or expiration of government

subsidies and economic incentives for on-grid solar electricity applications; changes to net metering policies may reduce demand for electricity from PV systems; stringent and changing data privacy and security laws, rules, regulations and other

obligations; federal, state, and local regulations governing the electric utility industry with respect to solar energy; business practices and regulatory compliance of our raw material suppliers; our ability to maintain our brand and to protect

and defend our intellectual property; volatility of our stock price; our customers’ financial stability, creditworthiness, and debt leverage ratio; our ability to effectively design, launch, market, and sell new generations of our products and

services; our ability to retain, and events affecting, our major customers; our ability to service our debt; impairment of our goodwill or other long-lived and intangible assets; our liquidity and ability to service our debt; and the other

factors set forth under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed on February 25, 2026, in subsequent Quarterly Reports on Form 10Q and in other documents we file from time to time with

the SEC that disclose risks and uncertainties that may affect our business. The preceding list is not intended to be an exhaustive list of all of our forward‐looking statements. You should not rely upon forward‐looking statements as predictions

of future events. Although we believe that the expectations reflected in the forward‐looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the

forward‐looking statements will be achieved or will occur. Statements in this press release speak only as of the date they were made. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release,

whether as a result of new information, future events or changes in its expectations or otherwise, except as may be required by applicable law, regulation or other competent legal authority.

Investor Contacts

Sapphire Investor Relations, LLC

Erica Mannion or Michael Funari

investors@solaredge.com

SOLAREDGE TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF LOSS

(in thousands, except per share data)

Three Months Ended

March 31,

2026

2025

Unaudited

Revenues

310,501

219,480

Cost of revenues

242,220

201,944

Gross profit

68,281

17,536

Operating expenses:

Research and development, net

50,155

61,997

Sales and marketing

27,449

31,657

General and administrative

36,422

30,183

Other operating expense (income), net

9,298

(3,575

)

Total operating expenses

123,324

120,262

Operating loss

(55,043

)

(102,726

)

Financial income (expense), net

(1,037

)

10,068

Other income, net

—

148

Loss before income taxes

(56,080

)

(92,510

)

Income taxes

(1,286

)

(5,726

)

Net loss from equity method investments

—

(287

)

Net loss

(57,366

)

(98,523

)

SOLAREDGE TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

March 31,

2026

December 31,

2025

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

512,381

455,075

Restricted cash

40,985

84,771

Marketable securities

29,269

38,097

Trade receivables, net of allowances of $30,478 and $17,224, respectively

222,704

267,441

Inventories, net

596,824

552,632

Prepaid expenses and other current assets

414,518

341,831

Total current assets

1,816,681

1,739,847

LONG-TERM ASSETS:

Property, plant and equipment, net

264,965

269,351

Operating lease right-of-use assets, net

50,085

48,178

Intangible assets, net

6,420

7,129

Goodwill

49,852

50,123

Other long-term assets

72,505

67,566

Total long-term

assets

443,827

442,347

Total assets

2,260,508

2,182,194

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

404,507

271,983

Employees and payroll accruals

81,990

73,992

Warranty obligations

83,685

89,330

Deferred revenues and customers advances

38,540

70,371

Accrued expenses and other current liabilities

288,549

297,819

Total current liabilities

897,271

803,495

LONG-TERM LIABILITIES:

Convertible senior notes, net

331,944

331,561

Warranty obligations

238,129

268,559

Deferred revenues and customers advances

313,949

293,328

Finance lease liabilities

18,323

18,558

Operating lease liabilities

39,307

36,648

Other long-term liabilities

10,865

2,581

Total long-term liabilities

952,517

951,235

STOCKHOLDERS’ EQUITY:

Common stock of $0.0001 par value - Authorized: 125,000,000; Issued and outstanding: 60,817,930 and

60,360,154 shares as of March 31, 2026 and December 31, 2025, respectively

Additional paid-in capital

1,896,782

1,872,760

Accumulated other comprehensive income (loss)

4,937

(11,663

)

Accumulated deficit

(1,491,005

)

(1,433,639

)

Total stockholders’ equity

410,720

427,464

Total liabilities and

stockholders’ equity

2,260,508

2,182,194

SOLAREDGE TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except per share data)

Three Months Ended

March 31

2026

2025

Cash flows from operating activities:

Net loss

(57,366

)

(98,523

)

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

Depreciation and amortization

5,941

12,001

Stock-based compensation expenses

19,852

31,426

Loss from business disposition

7,600

—

Loss (gain) from exchange rate fluctuations

659

(2,930

)

Other items

(939

)

1,242

Changes in assets and liabilities:

Trade receivables, net

43,559

29,247

Inventories, net

(38,339

)

12,285

Prepaid expenses and other assets

(88,163

)

100,361

Operating lease right-of-use assets, net

3,288

3,659

Trade payables

132,556

30,275

Employees and payroll accruals

9,625

208

Warranty obligations

(36,064

)

(19,745

)

Deferred revenues and customers advances

(11,168

)

(51,970

)

Operating lease liabilities

(3,805

)

(3,571

)

Accrued expenses and other liabilities

37,192

(10,142

)

Net cash provided by operating activities

24,428

33,823

Cash flows from investing activities:

Investment in available-for-sale marketable securities

—

(72,465

)

Proceeds from maturities of available-for-sale marketable securities

8,811

142,931

Purchase of property, plant and equipment

(3,701

)

(10,109

)

Business dispositions, net of cash sold

(2,631

)

—

Repayment related to governmental grant

—

(6,643

)

Withdrawal from restricted bank deposits

2,700

Payments made before lease commencement

(26,162

)

—

Proceeds from loan receivables

13,653

Other investing activities

487

150

Net cash provided by (used in) investing activities

(20,440

)

67,597

Cash flows from financing activities:

Repurchase of convertible debt

—

(5,093

)

Issuance of common stock upon exercise of stock-based awards

3,850

Tax withholding in connection with stock-based awards, net

(1,487

)

(338

)

Other financing activities

(375

)

(816

)

Net cash provided by (used in) financing activities

1,988

(6,237

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(1,146

)

701

Increase in cash, cash equivalents and restricted cash including cash classified within current held-for-sale assets

4,830

95,884

Change in cash classified within current held-for-sale assets

8,690

—

Increase in cash, cash equivalents and restricted cash

13,520

95,884

Cash, cash equivalents and restricted cash, beginning of period

539,846

409,939

Cash, cash equivalents and restricted cash, end of period

553,366

505,823

SOLAREDGE TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)

(in thousands, except per share data and percentages)

Three months ended

Year ended

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

December 31, 2025

December 31, 2024

December 31, 2023

Gross profit (loss) (GAAP)

68,281

74,471

72,143

32,131

17,536

196,281

(877,204

)

703,823

Revenues from finance component

(498

)

(456

)

(351

)

(304

)

(264

)

(1,375

)

(984

)

(834

)

Discontinued operation revenues

(64

)

(1,107

)

(85

)

(8,132

)

(7,098

)

(16,422

)

—

Discontinued operation cost of revenues

573

(331

)

(13,101

)

7,834

792

(4,806

)

24,921

36,648

Stock-based compensation

3,607

3,687

3,959

4,004

4,372

16,022

21,952

23,200

Amortization of stock-based compensation capitalized in inventories

313

613

825

882

381

2,701

3,138

1,100

Amortization and depreciation of acquired asset

500

495

501

483

491

1,970

5,412

6,038

Restructuring charges

278

344

430

815

15,327

23,154

Gross profit (loss) (Non-GAAP)

72,990

77,716

63,922

36,908

16,640

195,186

(807,438

)

793,129

Gross margin (loss) (GAAP)

22.0

22.2

21.2

11.1

8.0

16.6

(97.3

23.6

Revenues from finance component

(0.2

)

0.0

(0.1

)

(0.1

)

0.0

Discontinued operation revenues

0.0

(2.8

)

(3.2

)

(1.4

)

—

Discontinued operation cost of revenues

0.2

0.0

(3.9

)

3.0

0.4

(0.4

)

2.8

1.2

Stock-based compensation

1.1

1.2

1.4

2.0

1.4

2.4

0.9

Amortization of stock-based compensation capitalized in inventories

0.1

0.0

0.2

0.3

0.2

0.3

0.0

Amortization and depreciation of acquired asset

0.2

0.0

0.1

0.2

0.3

0.6

0.2

Restructuring charges

0.1

0.0

0.2

0.1

1.7

0.8

Gross margin (loss) (Non-GAAP)

23.5

23.3

18.8

13.2

7.8

16.7

(89.6

26.7

Operating expenses (GAAP)

123,324

122,781

107,293

147,624

120,262

497,960

831,084

663,618

Stock-based compensation - R&D

(8,061

)

(8,442

)

(10,681

)

(9,856

)

(15,911

)

(44,890

)

(62,546

)

(66,944

)

Stock-based compensation - S&M

(4,151

)

(4,298

)

(4,348

)

(4,342

)

(4,742

)

(17,730

)

(27,328

)

(30,987

)

Stock-based compensation - G&A

(4,033

)

(3,546

)

(2,897

)

(1,059

)

(6,401

)

(13,903

)

(25,425

)

(28,814

)

Amortization and depreciation of acquired assets - R&D

—

(1,000

)

(989

)

Amortization and depreciation of acquired assets - S&M

(116

)

(116

)

(116

)

(116

)

(424

)

(772

)

(1,599

)

(927

)

Amortization and depreciation of acquired assets - G&A

—

)

(15

)

Amortization of stock-based compensation capitalized in assets

(110

)

—

Discontinued operation

556

(6,989

)

(316

)

(27,069

)

(1,522

)

(35,896

)

(3,293

)

(388

)

Restructuring charges

(371

)

(423

)

(426

)

(867

)

(2,613

)

(4,329

)

(5,607

)

—

Assets impairment and disposal by abandonment

(970

)

(3,135

)

(672

)

(1,967

)

(224

)

(5,998

)

(251,823

)

(30,790

)

Gain (loss) from assets sales

(8,327

)

(7,117

)

(158

)

(17,108

)

662

(23,721

)

(5,746

)

1,262

Certain litigation and other contingencies

—

399

(1,786

)

Acquisition costs

—

)

(135

)

Operating expenses (Non-GAAP)

97,741

88,715

87,679

85,240

89,087

350,721

447,101

503,105

SOLAREDGE TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)

(in thousands, except per share data and percentages)

Three months ended

Year ended

March 31,

2026

December 31,

2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2025

December 31, 2024

December 31, 2023

Operating income (loss) (GAAP)

(55,043

)

(48,310

)

(35,150

)

(115,493

)

(102,726

)

(301,679

)

(1,708,288

)

40,205

Revenues from finance component

(498

)

(456

)

(351

)

(304

)

(264

)

(1,375

)

(984

)

(834

)

Discontinued operation

(47

)

5,551

(12,870

)

26,771

(4,784

)

14,668

28,214

37,036

Stock-based compensation

19,852

19,973

21,885

19,261

31,426

92,545

137,251

149,945

Amortization of stock-based compensation capitalized in inventories

313

613

825

882

381

2,701

3,138

1,100

Amortization and depreciation of acquired assets

616

611

617

599

915

2,742

8,017

7,969

Amortization of stock-based compensation capitalized in assets

110

—

Restructuring charges

649

767

457

877

3,043

5,144

20,934

23,154

Assets impairment and disposal by abandonment

970

3,135

672

1,967

224

5,998

251,823

30,790

Loss (gain) from assets sales

8,327

7,117

158

17,108

(662

)

23,721

5,746

(1,262

)

Certain litigation and other contingencies

—

(399

)

1,786

Acquisition costs

—

135

Operating income (loss) (Non-GAAP)

(24,751

)

(10,999

)

(23,757

)

(48,332

)

(72,447

)

(155,535

)

(1,254,539

)

290,024

Financial income (expense), net (GAAP)

(1,037

)

(77,784

)

3,040

(7,323

)

10,068

(71,999

)

(14,570

)

41,212

Non cash interest expense

4,793

4,420

4,462

4,326

4,051

17,259

14,877

12,703

Currency fluctuation related to lease standard

(317

)

3,360

1,552

7,151

(1,633

)

10,430

(744

)

(3,055

)

Discontinued operation

1,402

(958

)

2,265

(276

)

2,433

—

CTA reclassification upon liquidation of a foreign subsidiary

225

59,520

—

59,520

—

One‑time foreign exchange impact from VAT settlement agreement

(3,900

)

10,963

—

10,963

—

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

(233

)

1,881

8,096

6,419

12,210

28,606

(437

)

50,860

Other income (loss) (GAAP)

—

(6,582

)

(15,011

)

4,017

148

(17,428

)

14,547

(318

)

Loss (gain) from sale of equity and debt investments

—

)

(2,966

)

193

Gain from business combination

—

(1,125

)

—

Gain from the repurchase of convertible notes

—

(146

)

(146

)

(15,456

)

—

Loss (gain) from sale of privately-held companies

—

155

—

(4,017

)

—

(3,862

)

—

Loss from impairment of privately-held companies

—

6,427

15,011

—

21,438

5,000

—

Other income (loss) (Non-GAAP)

—

(125

)

Income tax benefit (expense) (GAAP)

(1,286

)

564

(2,563

)

(5,657

)

(5,726

)

(13,382

)

(96,150

)

(46,420

)

Income tax adjustment

(15

)

389

(124

)

(100

)

(155

)

39,007

(45,896

)

Income tax benefit (expense) (Non-GAAP)

(1,301

)

953

(2,687

)

(5,757

)

(5,881

)

(13,372

)

(57,143

)

(92,316

)

Equity method investments income (loss) (GAAP)

—

)

(376

)

(288

)

(287

)

(960

)

(1,896

)

(350

)

Loss from equity method investments

—

376

288

287

960

1,896

350

Equity method investments income (loss) (Non-GAAP)

—

SOLAREDGE TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)

(in thousands, except per share data and percentages)

Three months ended

Year ended

March 31, 2026

December 31,

2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2025

December 31, 2024

December 31, 2023

Net income (loss) (GAAP)

(57,366

)

(132,121

)

(50,060

)

(124,744

)

(98,523

)

(405,448

)

(1,806,357

)

34,329

Revenues from finance component

(498

)

(456

)

(351

)

(304

)

(264

)

(1,375

)

(984

)

(834

)

Discontinued operation

(44

)

6,953

(13,828

)

29,036

(5,060

)

17,101

28,214

37,036

Stock-based compensation

19,852

19,973

21,885

19,261

31,426

92,545

137,251

149,945

Amortization of stock-based compensation capitalized in inventories

313

613

825

882

381

2,701

3,138

1,100

Amortization and depreciation of acquired assets

616

611

617

599

915

2,742

8,017

7,969

Amortization of stock-based compensation capitalized in assets

110

—

Restructuring charges

649

767

457

877

3,043

5,144

20,934

23,154

Assets impairment and disposal by abandonment

970

3,135

672

1,967

224

5,998

251,823

30,790

Loss (gain) from assets sales

8,327

7,117

158

17,108

(662

)

23,721

5,746

(1,262

)

Certain litigation and other contingencies

—

(399

)

1,786

Acquisition costs

—

135

Non cash interest expense

4,793

4,420

4,462

4,326

4,051

17,259

14,877

12,703

CTA reclassification upon liquidation of a foreign subsidiary

225

59,520

—

59,520

—

One‑time foreign exchange impact from VAT settlement agreement

(3,900

)

10,963

—

10,963

—

Currency fluctuation related to lease standard

(317

)

3,360

1,552

7,151

(1,633

)

10,430

(744

)

(3,055

)

Loss (gain) from sale of equity and debt investments

—

)

(2,966

)

193

Loss (gain) from business combination

—

(1,125

)

—

Gain from the repurchase of convertible notes

—

(146

)

(146

)

(15,456

)

—

Loss (gain) from sale of privately-held companies

—

155

—

(4,017

)

—

(3,862

)

—

Loss from impairment of privately-held companies

—

6,427

15,011

—

21,438

5,000

—

Income tax adjustment

(15

)

389

(124

)

(100

)

(155

)

39,007

(45,896

)

Equity method adjustments

—

376

288

287

960

1,896

350

Net income (loss) (Non-GAAP)

(26,285

)

(8,165

)

(18,348

)

(47,670

)

(66,118

)

(140,301

)

(1,312,119

)

248,443

SOLAREDGE TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)

(in thousands, except per share data and percentages)

Three months ended

Year ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2025

December 31, 2024

December 31, 2023

Net basic earnings (loss) per share (GAAP)

(0.95

)

(2.21

)

(0.84

)

(2.13

)

(1.70

)

(6.88

)

(31.64

)

0.61

Revenues from finance component

(0.01

)

(0.01

)

(0.01

)

(0.01

)

0.00

(0.02

)

(0.02

)

(0.02

)

Discontinued operation

0.00

0.12

(0.23

)

0.50

(0.09

)

0.29

0.49

0.66

Stock-based compensation

0.33

0.37

0.33

0.54

1.57

2.41

2.65

Amortization of stock-based compensation capitalized in inventories

0.01

0.05

0.02

Amortization and depreciation of acquired assets

0.01

0.02

0.04

0.14

Amortization of stock-based compensation capitalized in assets

0.00

—

Restructuring charges

0.01

0.02

0.01

0.02

0.05

0.09

0.37

0.41

Assets impairment and disposal by abandonment

0.02

0.05

0.01

0.03

0.00

0.10

4.41

0.54

Loss (gain) from assets sales

0.14

0.12

0.00

0.30

(0.01

)

0.40

0.10

(0.02

)

Certain litigation and other contingencies

—

(0.01

)

0.03

Acquisition costs

—

0.00

Non cash interest expense

0.08

0.07

0.08

0.07

0.30

0.26

0.23

CTA reclassification upon liquidation of a foreign subsidiary

0.00

1.00

—

1.01

—

One‑time foreign exchange impact from VAT settlement agreement

(0.06

)

0.18

—

0.18

—

Currency fluctuation related to lease standard

(0.01

)

0.06

0.02

0.12

(0.03

)

0.18

(0.01

)

(0.06

)

Loss (gain) from sale of equity and debt investments

—

0.00

(0.05

)

0.01

Loss (gain) from business combination

—

(0.02

)

—

Gain from the repurchase of convertible notes

—

0.00

(0.27

)

—

Loss (gain) from sale of privately-held companies

—

0.00

—

(0.06

)

—

(0.07

)

—

Loss from impairment of privately-held companies

—

0.11

0.26

—

0.36

0.09

—

Income tax adjustment

0.00

(0.01

)

0.00

0.68

(0.81

)

Equity method adjustments

—

0.00

0.01

0.00

0.02

0.03

0.00

Net basic earnings (loss) per share (Non-GAAP)

(0.43

)

(0.14

)

(0.31

)

(0.81

)

(1.14

)

(2.38

)

(22.99

)

4.39

SOLAREDGE TECHNOLOGIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited)

(in thousands, except per share data and percentages)

Three months ended

Year ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2025

December 31, 2024

December 31, 2023

Net diluted earnings (loss) per share (GAAP)

(0.95

)

(2.21

)

(0.84

)

(2.13

)

(1.70

)

(6.88

)

(31.64

)

0.60

Revenues from finance component

(0.01

)

(0.01

)

(0.01

)

(0.01

)

0.00

(0.02

)

(0.02

)

(0.01

)

Discontinued operation

0.00

0.12

(0.23

)

0.50

(0.09

)

0.29

0.49

0.64

Stock-based compensation

0.33

0.37

0.33

0.54

1.57

2.41

2.57

Amortization of stock-based compensation capitalized in inventories

0.01

0.05

0.02

Amortization and depreciation of acquired assets

0.01

0.02

0.04

0.14

Amortization of stock-based compensation capitalized in assets

0.00

—

Restructuring charges

0.01

0.02

0.01

0.02

0.05

0.09

0.37

0.40

Assets impairment and disposal by abandonment

0.02

0.05

0.01

0.03

0.00

0.10

4.41

0.53

Loss (gain) from assets sales

0.14

0.12

0.00

0.30

(0.01

)

0.40

0.10

(0.02

)

Certain litigation and other contingencies

—

(0.01

)

0.03

Acquisition costs

—

0.00

Non cash interest expense

0.08

0.07

0.08

0.07

0.30

0.26

0.03

CTA reclassification upon liquidation of a foreign subsidiary

0.00

1.00

—

1.01

—

One‑time foreign exchange impact from VAT settlement agreement

(0.06

)

0.18

—

0.18

—

Currency fluctuation related to lease standard

(0.01

)

0.06

0.02

0.12

(0.03

)

0.18

(0.01

)

(0.05

)

Loss (gain) from sale of equity and debt investments

—

0.00

(0.05

)

0.00

Loss (gain) from business combination

—

(0.02

)

—

Gain from the repurchase of convertible notes

0.00

—

0.00

(0.27

)

—

Loss (gain) from sale of privately-held companies

—

0.00

—

(0.06

)

—

(0.07

)

—

Loss from impairment of privately-held companies

—

0.11

0.26

—

0.36

0.09

—

Income tax adjustment

0.00

(0.01

)

0.00

0.68

(0.76

)

Equity method adjustments

—

0.00

0.01

0.00

0.02

0.03

0.00

Net diluted earnings (loss) per share (Non-GAAP)

(0.43

)

(0.14

)

(0.31

)

(0.81

)

(1.14

)

(2.38

)

(22.99

)

4.12

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

60,517,248

59,828,042

59,278,269

58,567,394

58,121,502

58,954,380

57,082,182

57,237,518

Stock-based compensation

—

725,859

Notes due 2025

—

2,276,818

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

60,517,248

59,828,042

59,278,269

58,567,394

58,121,502

58,954,380

57,082,182

60,240,195

Net cash provided by (used in) operating activities (GAAP)

24,428

52,629

25,608

(7,799

)

33,823

104,261

(313,319

)

(180,113

)

Purchase of property, plant and equipment

(3,701

)

(9,293

)

(2,809

)

(1,256

)

(10,109

)

(23,467

)

(108,163

)

(170,523

)

Discontinued operation

—

(3,867

)

(3,867

)

—

Free cash flow (deficit) (Non-GAAP)

20,727

43,336

22,799

(9,055

)

19,847

76,927

(421,482

)

(350,636

)

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Document and Entity Information

May 06, 2026

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Entity File Number

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SOLAREDGE TECHNOLOGIES, INC

Entity Central Index Key

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Entity Incorporation, State or Country Code

Entity Tax Identification Number

20-5338862

Entity Address, Address Line One

1 Hamada Street

Entity Address, City or Town

Herziliya Pituach

Entity Address, Country

Entity Address, Postal Zip Code

4673335

City Area Code

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Common stock, par value $0.0001 per share

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duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

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dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

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Namespace Prefix:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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