SEDG Stock Balance Sheets

SolarEdge Quarterly Balance Sheets Chart

Quarterly

Annual

Goodwill

Cash and Cash Eq

Long-Term Debt

Inventory

SolarEdge Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31

assets
current assets:
cash and cash equivalents	545,240,000	401,364,000	274,611,000	303,904,000	214,229,000	338,468,000	551,122,000	557,744,000	727,849,000	783,112,000	678,329,000	745,534,000	1,002,772,000	530,089,000	526,588,000	524,112,000
restricted cash	27,266,000	104,459,000	135,328,000
marketable securities	212,754,000	250,267,000	311,279,000	374,869,000	466,407,000	521,570,000	477,275,000	493,176,000	410,820,000	241,117,000	202,598,000	150,259,000	158,557,000	167,728,000	145,459,000	145,686,000
trade receivables, net of allowance	217,098,000	132,577,000	160,423,000	239,408,000	404,390,000	622,425,000	939,545,000	1,149,820,000	969,543,000	905,146,000	785,325,000	669,100,000	676,820,000	456,339,000	416,244,000	343,652,000
inventories	529,306,000	636,597,000	645,897,000	798,383,000	1,549,122,000	1,443,449,000	1,177,805,000	984,194,000	874,212,000	729,201,000	561,352,000	470,272,000	432,504,000	380,143,000	304,713,000	321,915,000	-8,376,000	-149,661,000	-121,999,000	-94,230,000	-29,004,000	-22,544,000	15,746,000	1,723,000	964,000	-20,178,000	-18,120,000	-18,952,000	-15,348,000	-15,690,000	5,005,000	11,153,000	6,453,000	13,120,000	-7,356,000	-11,446,000	-13,452,000	-5,956,000	-48,507,000	-39,071,000
prepaid expenses and other current assets	440,249,000	464,419,000	506,769,000	401,551,000	354,919,000	378,394,000	217,720,000	264,188,000	259,642,000	241,082,000	224,169,000	248,643,000	191,664,000	176,992,000	148,364,000	137,480,000
total current assets	1,971,913,000	1,989,683,000	2,034,307,000	2,118,115,000	2,989,067,000	3,304,306,000	3,363,467,000	3,449,122,000	3,242,066,000	2,899,658,000	2,451,773,000	2,283,808,000	2,462,317,000	1,711,291,000	1,552,554,000	1,488,911,000
long-term assets:
property, plant and equipment	327,101,000	339,824,000	343,438,000	423,905,000	605,223,000	614,579,000	604,819,000	580,503,000	556,138,000	543,969,000	491,433,000	489,109,000	473,511,000	410,379,000	353,344,000	340,319,000
operating lease right-of-use assets	44,808,000	48,639,000	41,393,000	43,088,000	59,474,000	64,167,000	67,331,000	66,387,000	69,710,000	62,754,000	62,535,000	58,375,000	59,783,000	47,137,000	39,314,000	38,302,000
intangible assets	8,437,000	8,874,000		11,169,000	33,037,000	35,345,000	41,947,000	43,656,000	17,933,000	19,929,000	46,286,000	50,372,000	55,734,000	58,861,000	61,639,000	61,855,000
goodwill	51,346,000	48,626,000		51,875,000	41,470,000	42,996,000	41,201,000	42,332,000	29,934,000	31,189,000	108,860,000	116,173,000	127,109,000	129,629,000	131,757,000	135,981,000							32,592,000
loan receivables			45,678,000
other long-term assets	63,680,000	55,476,000	64,736,000	112,201,000	47,784,000	37,601,000	36,103,000	28,772,000	24,906,000	18,806,000	15,638,000	31,970,000	23,583,000	24,963,000	23,083,000	21,633,000
total long-term assets	518,535,000	535,490,000	595,888,000	698,279,000	1,177,755,000	1,283,425,000	1,287,687,000	1,247,443,000	1,254,360,000	1,366,291,000	1,451,773,000	1,488,970,000	1,220,598,000	1,180,769,000	1,104,279,000	1,075,414,000
total assets	2,490,448,000	2,525,173,000	2,630,195,000	2,816,394,000	4,166,822,000	4,587,731,000	4,651,154,000	4,696,565,000	4,496,426,000	4,265,949,000	3,903,546,000	3,772,778,000	3,682,915,000	2,892,060,000	2,656,833,000	2,564,325,000							1,337,592,000
liabilities and stockholders’ equity
current liabilities:
trade payables	178,723,000	135,435,000	93,491,000	94,730,000	171,412,000	386,471,000	399,274,000	434,602,000	408,523,000	459,831,000	311,565,000	253,399,000	241,630,000	252,068,000	137,621,000	141,174,000	-39,034,000	3,333,000	-35,499,000	-1,823,000	-17,589,000	47,837,000	132,230,000	5,493,000	-21,720,000	31,482,000	14,006,000	12,143,000	13,595,000	35,455,000	8,667,000	2,007,000	9,734,000	-8,200,000	-32,200,000	-35,554,000	-18,701,000	-13,500,000	41,111,000	-1,264,000
employees and payroll accruals	66,956,000	76,360,000	76,292,000	70,120,000	73,666,000	76,966,000	77,740,000	74,709,000	90,853,000	85,158,000	71,905,000	68,154,000	84,309,000	74,465,000	63,845,000	58,340,000	7,477,000	18,315,000	3,132,000	1,457,000	11,821,000	18,592,000	44,386,000	5,151,000	3,250,000	4,583,000	1,200,000	1,028,000	7,153,000	9,394,000	4,509,000	1,206,000	-1,272,000	1,879,000	3,278,000	5,517,000	6,073,000	1,044,000	1,668,000	883,000
warranty obligations	115,057,000	125,172,000	140,249,000	163,561,000	181,333,000	183,047,000	174,125,000	146,150,000	129,278,000	103,975,000	97,222,000	91,761,000	82,340,000	71,480,000	67,096,000	64,855,000	13,088,000	32,274,000	23,155,000	20,198,000	13,809,000	50,780,000	45,887,000	28,860,000	14,947,000	41,878,000	28,847,000	18,479,000	9,384,000	20,436,000	13,192,000	6,965,000	2,750,000	5,216,000	19,313,000	14,780,000	9,015,000	4,025,000	13,698,000	9,718,000
deferred revenues and customers advances	37,174,000	76,491,000	140,870,000	27,367,000	36,081,000	40,836,000	22,064,000	28,135,000	27,507,000	26,641,000	31,896,000	30,460,000	25,511,000	17,789,000	16,939,000	16,144,000	3,615,000	-21,438,000	-24,283,000	-31,834,000	-31,729,000
accrued expenses and other current liabilities	276,953,000	219,496,000	243,872,000	202,134,000	196,398,000	205,911,000	203,448,000	214,133,000	243,881,000	214,112,000	181,892,000	168,400,000	134,951,000	109,379,000	119,865,000	118,933,000							80,986,000
convertible senior notes	341,867,000	341,472,000	346,305,000	345,900,000	628,115,000	627,381,000	626,647,000	625,914,000	625,182,000	624,451,000	623,721,000	622,991,000	622,263,000	621,535,000	620,808,000	620,082,000
total current liabilities	1,016,730,000	974,426,000	1,041,079,000	903,812,000	658,890,000	893,231,000	876,651,000	897,729,000	900,042,000	889,717,000	694,480,000	612,174,000	568,741,000	525,181,000	405,507,000	399,585,000							335,407,000
long-term liabilities:
deferred revenues	248,731,000	243,649,000	231,049,000	226,770,000	218,535,000	214,607,000	212,025,000	204,693,000	196,917,000	186,936,000	176,824,000	170,235,000	158,734,000	151,556,000	136,269,000	128,109,000						83,137,000	15,006,000	11,764,000	1,730,000	37,041,000	21,576,000	13,120,000	6,981,000	14,106,000	9,699,000	6,935,000	2,060,000	-63,000	8,578,000	5,942,000	3,446,000	1,970,000	3,989,000	2,116,000
finance lease liabilities	40,817,000	37,862,000	39,159,000	39,197,000	40,630,000	41,892,000	40,323,000	42,208,000	43,711,000	45,385,000	45,509,000	46,680,000	53,405,000	40,508,000	25,375,000	25,525,000
operating lease liabilities	32,033,000	33,325,000	30,018,000	31,293,000	40,982,000	45,070,000	46,580,000	47,046,000	50,855,000	46,256,000	46,398,000	42,849,000	48,480,000	38,912,000	31,509,000	31,153,000							29,117,000
other long-term liabilities	25,634,000	23,779,000	8,426,000	13,999,000	17,953,000	18,444,000	16,835,000	16,349,000	15,232,000	15,756,000	15,570,000	17,902,000	10,441,000	10,649,000	14,910,000	14,766,000
total long-term liabilities	960,499,000	956,534,000	930,774,000	956,216,000	1,267,381,000	1,282,591,000	1,284,097,000	1,278,647,000	1,245,590,000	1,199,866,000	1,156,939,000	1,133,072,000	1,103,649,000	1,056,840,000	1,009,243,000	986,947,000							264,997,000
commitments and contingent liabilities
stockholders’ equity:
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 59,374,556 shares on june 30, 2025 and 58,780,490 shares on december 31, 2024; outstanding: 59,134,050 shares on june 30, 2025 and 58,027,126 shares on december 31, 2024.	6,000
additional paid-in capital	1,838,563,000	1,845,719,000	1,813,198,000	1,779,212,000	1,719,523,000	1,680,622,000	1,633,800,000	1,595,890,000	1,545,777,000	1,505,632,000	1,457,379,000	1,418,881,000	1,373,405,000	687,295,000	652,109,000	625,268,000							450,459,000
treasury stock	-16,024,000	-50,194,000	-50,194,000	-50,315,000	-33,222,000
accumulated other comprehensive loss	-57,868,000	-74,604,000	-76,477,000	-57,253,000	-66,611,000	-46,885,000	-83,949,000	-77,432,000	-77,204,000	-73,109,000	-128,266,000	-89,620,000	-46,067,000										-3,356,000
accumulated deficit	-1,251,458,000	-1,126,714,000
total stockholders’ equity	513,219,000	594,213,000	658,342,000	956,366,000	2,240,551,000	2,411,909,000	2,490,406,000	2,520,189,000	2,350,794,000	2,176,366,000	2,052,127,000	2,027,532,000	2,010,525,000	1,310,039,000	1,242,083,000	1,177,793,000							737,188,000
total liabilities and stockholders’ equity	2,490,448,000	2,525,173,000	2,630,195,000	2,816,394,000	4,166,822,000	4,587,731,000	4,651,154,000	4,696,565,000	4,496,426,000	4,265,949,000	3,903,546,000	3,772,778,000	3,682,915,000	2,892,060,000	2,656,833,000	2,564,325,000							1,337,592,000
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 59,043,817 shares on march 31, 2025 and 58,780,490 shares on december 31, 2024; outstanding: 58,290,453 shares on march 31, 2025 and 58,027,126 shares on december 31, 2024.		6,000
deferred tax assets					122,564,000	80,912,000	60,147,000	49,993,000	46,612,000	44,153,000	38,268,000	33,400,000	31,205,000	27,572,000	21,827,000	19,962,000							17,180,000				-4,789,000	-3,018,000	-1,321,000	-5,455,000	-3,063,000	-2,105,000	-1,333,000	2,180,000	-6,380,000	-6,627,000	-6,527,000
goodwill and intangible assets			58,046,000
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 58,780,490 shares at december 31, 2024 and 57,123,437 shares at december 31, 2023; outstanding: 58,027,126 shares at december 31, 2024 and 57,123,437 shares at december 31, 2023.			6,000
retained earnings			-1,028,191,000	-715,284,000	620,855,000	778,166,000	940,549,000	1,001,725,000	882,215,000	743,837,000	723,008,000	698,265,000	683,181,000	650,058,000	609,104,000	556,056,000							284,904,000
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 57,935,436 shares at september 30, 2024 and 57,123,437 shares at december 31, 2023; outstanding: 57,182,072 shares at september 30, 2024 and 57,123,437 shares at december 31, 2023.				6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 57,298,691 shares at march 31, 2024 and 57,123,437 shares at december 31, 2023; outstanding: 56,792,795 shares at march 31, 2024 and 57,123,437 shares at december 31, 2023.					6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of december 31, 2023 and december 31, 2022; issued and outstanding: 57,123,437 and 56,133,404 shares as of december 31, 2023 and december 31, 2022, respectively						6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2023 and december 31, 2022; issued and outstanding: 56,810,559 and 56,133,404 shares as of september 30, 2023 and december 31, 2022, respectively							6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of june 30, 2023 and december 31, 2022; issued and outstanding: 56,556,340 and 56,133,404 shares as of june 30, 2023 and december 31, 2022, respectively								6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2023 and december 31, 2022; issued and outstanding: 56,343,164 and 56,133,404 shares as of march 31, 2023 and december 31, 2022, respectively									6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of december 31, 2022 and december 31, 2021; issued and outstanding: 56,133,404 and 52,815,395 shares as of december 31, 2022 and december 31, 2021, respectively										6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2022 and december 31, 2021; issued and outstanding: 55,894,106 and 52,815,395 shares as of september 30, 2022 and december 31, 2021, respectively											6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of june 30, 2022 and december 31, 2021; issued and outstanding: 55,633,090 and 52,815,395 shares as of june 30, 2022 and december 31, 2021, respectively												6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2022 and december 31, 2021; issued and outstanding: 55,386,146 and 52,815,395 shares as of march 31, 2022 and december 31, 2021, respectively													6,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of december 31, 2021 and december 31, 2020; issued and outstanding: 52,815,395 and 51,560,936 shares as of december 31, 2021 and december 31, 2020, respectively														5,000
accumulated other comprehensive income														-27,319,000	-19,135,000	-3,536,000
short-term bank deposits															10,122,000	13,562,000
restricted bank deposits															1,064,000	2,504,000
current maturities of bank loans and accrued interest															141,000	139,000							16,912,000
deferred tax liabilities															405,000								7,762,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2021 and december 31, 2020; issued and outstanding: 52,519,490 and 51,560,936 shares as of september 30, 2021 and december 31, 2020, respectively															5,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of june 30, 2021 and december 31, 2020; issued and outstanding: 52,263,976 and 51,560,936 shares as of june 30, 2021 and december 31, 2020, respectively																5,000
cash flows from operating activities:
net income																	30,076,000	140,322,000	122,667,000	78,916,000	42,248,000	144,957,000	92,612,000	50,888,000	17,975,000	128,046,000	115,897,000	70,254,000	35,686,000	84,172,000	64,670,000	36,699,000	14,175,000	15,616,000	76,609,000	59,336,000	38,537,000	14,432,000	21,121,000	11,860,000
adjustments to reconcile net income to net cash from operating activities:
depreciation of property, plant and equipment																	6,887,000	22,355,000	16,376,000	10,646,000	5,004,000	17,261,000	12,532,000	8,147,000	3,870,000	11,426,000
amortization of intangible assets																	2,391,000	9,479,000	7,081,000	4,615,000	2,321,000	9,634,000	7,514,000	4,895,000	1,971,000	1,193,000	404,000							21,000	84,000	63,000	42,000	21,000
amortization of debt discount and debt issuance costs																	724,000	3,185,000	168,000
amortization of premium and accretion of discount on available-for-sale marketable securities																	1,295,000	1,168,000	602,000	373,000	120,000	92,000		-12,000	-59,000	1,242,000				2,061,000
stock-based compensation expenses																	23,153,000	67,309,000	42,993,000	26,734,000	12,773,000	60,353,000
deferred income taxes																	-2,141,000	-2,738,000
income from disposal of assets																	2,147,000						566,000	552,000
exchange rate fluctuations and other items																	13,303,000
changes in assets and liabilities:
prepaid expenses and other assets																	20,218,000	-3,276,000	37,871,000	37,066,000	49,888,000	-67,323,000	-19,795,000	-2,574,000	10,885,000	-2,711,000	-4,800,000
trade receivables																	-57,380,000	86,538,000	118,044,000	116,045,000	59,420,000	-124,071,000	-114,572,000	-56,562,000	-7,379,000	-60,514,000	-42,418,000	-9,203,000	-17,935,000	-38,139,000	-20,168,000	-8,399,000	-8,070,000	-12,102,000	-37,271,000	-20,681,000	-11,268,000	-11,928,000	-16,333,000	-25,993,000
other liabilities																	6,640,000	11,630,000	10,619,000	5,768,000	-7,466,000	38,158,000	39,561,000	28,236,000	20,271,000	-8,485,000
net cash from operating activities																	24,083,000	222,655,000	195,429,000	167,055,000	107,745,000	259,000,000	175,934,000	107,234,000	56,450,000	189,079,000	142,205,000	107,870,000	63,979,000	136,665,000	90,890,000	57,291,000	25,666,000	24,369,000	52,427,000	34,392,000	19,050,000	5,946,000	12,054,000	-3,635,000
cash flows from investing activities:
investment in available-for-sale marketable securities																	-186,528,000	-223,705,000	-36,781,000	-36,815,000	-31,924,000	-160,054,000	-103,711,000	-63,655,000	-15,316,000	-142,627,000	-143,150,000	-89,389,000	-25,436,000	-143,675,000	-82,469,000	-74,106,000	-24,070,000	-19,928,000	-118,511,000		-52,860,000
proceed from maturities of available-for-sale marketable securities																	40,450,000
purchase of property, plant and equipment																	-24,545,000	-126,790,000	-90,553,000	-53,706,000	-27,053,000	-72,562,000	-39,679,000	-22,244,000	-10,620,000	-38,608,000
withdrawal from (investment in) bank deposits																	16,470,000	-54,752,000	-14,667,000		-3,316,000	4,860,000	4,101,000
other investing activities																	571,000	1,504,000	743,000	2,024,000		-3,261,000
net cash from investing activities																	-153,582,000	-236,637,000			-19,924,000	-152,853,000	-58,397,000	-52,221,000	-20,732,000	-152,628,000	-120,571,000	-63,949,000	-2,261,000	-85,407,000	-49,722,000	-50,371,000	-10,437,000	-8,486,000	-125,837,000	-97,510,000	-59,037,000	-3,968,000	-13,937,000	-10,251,000
cash flows from financing activities:
repayment of bank loans																	-34,000		-15,194,000	-15,119,000	-15,232,000		-5,142,000	-4,675,000
proceeds from bank loans																			15,185,000	15,113,000	15,295,000
proceeds from exercise of stock-based awards net of tax withholding																	-1,716,000
other financing activities																	-312,000		-152,000	-112,000	-56,000
net cash from financing activities																	-2,062,000		637,313,000	8,996,000	3,315,000		-68,307,000	-67,385,000	-2,630,000	-7,955,000	7,915,000	7,591,000	4,605,000	7,240,000	3,795,000	2,123,000	371,000	273,000	2,779,000	2,639,000	1,472,000	17,000	136,953,000	139,457,000
increase in cash and cash equivalents																	-131,561,000		833,441,000	202,927,000										58,498,000	44,963,000	9,043,000	15,600,000	16,156,000	-70,631,000	-60,479,000	-38,515,000	1,995,000	135,070,000	125,571,000
cash and cash equivalents at the beginning of the period																	827,146,000		223,901,000	223,901,000										104,683,000	104,683,000	104,683,000	104,683,000	74,032,000	144,750,000	144,750,000	144,750,000	144,750,000	9,754,000	9,754,000
effect of exchange rate differences on cash and cash equivalents																	-10,428,000		-9,233,000	1,544,000										-18,000	-198,000	-274,000	-350,000	-174,000	-87,000				-74,000
cash and cash equivalents at the end of the period																	685,157,000		1,048,109,000	428,372,000										163,163,000	149,448,000	113,452,000	119,933,000	90,014,000	74,032,000	84,070,000	106,150,000	146,729,000	144,750,000	135,204,000
income from sale of business																						5,269,000
other items																		2,451,000
operating lease right-of-use assets and liabilities, net and effect of exchange rate differences																		1,409,000	-459,000	-451,000	-1,247,000	2,192,000	2,138,000	1,466,000	828,000
proceed from sales and maturities of available-for- sale marketable securities																		141,839,000
withdrawal from (investment in) restricted bank deposits																		25,267,000	25,538,000	25,634,000	36,000
business combinations, net of cash acquired																						-38,435,000				-94,737,000
consolidated statements of cash flows
u.s. dollars in thousands
deferred income tax benefit																			-5,263,000	-6,424,000	-2,859,000	-6,037,000
other adjustments																			224,000	-1,000
proceeds from sales and maturities of available-for-sale marketable securities																			116,419,000	89,739,000	42,333,000		119,570,000	68,407,000	44,575,000
business combination, net of cash acquired																							-38,435,000	-38,435,000	-39,315,000
net cash from in investing activities																			699,000	26,876,000
proceeds from issuance of convertible senior notes																			618,269,000
proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards																			19,205,000	9,114,000	3,308,000		4,940,000	3,764,000	309,000	10,021,000	7,915,000	7,591,000		7,240,000
change in non-controlling interests																							-67,089,000	-66,474,000	-1,987,000
supplemental disclosure of non-cash activities:
operating lease, right of use asset																			796,000	980,000	2,158,000				32,531,000
other incomes																					235,000
increase in cash, cash equivalents and restricted cash																					91,136,000		61,602,000		33,088,000	28,496,000
cash, cash equivalents and restricted cash at the beginning of the period																					223,901,000		187,764,000	187,764,000	193,261,000	164,679,000	164,679,000	164,679,000	164,679,000
effect of exchange rate differences on cash, cash equivalents and restricted cash																					9,035,000		10,348,000	1,183,000	1,940,000	86,000	731,000	398,000	-17,000
cash, cash equivalents and restricted cash at the end of the period																					324,072,000		247,342,000	176,575,000	228,289,000	193,261,000	194,959,000	216,589,000	230,985,000
other incomes (income)																						713,000
investment in restricted bank deposits																						-26,145,000	-243,000	-203,000
proceed from sales and maturities of available-for-sale marketable securities																						142,744,000				129,345,000
liabilities and stockholders' equity
bank loans																							4,055,000
other long term liabilities																							16,662,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2019 (unaudited) and december 31, 2018; issued and outstanding: 48,576,288 and 46,052,802 shares as of september 30, 2019 (unaudited) and december 31, 2018, respectively																							5,000
total solaredge technologies, inc. stockholders’ equity																							732,012,000
non-controlling interests																							5,176,000
revenues																							410,556,000
cost of revenues																							1,691,000
gross profit																							139,309,000
operating expenses:
research and development																							4,269,000
sales and marketing																							22,026,000
general and administrative																							2,628,000
non recurring expenses
total operating expenses
operating income
financial expenses																							17,023,000
income before taxes on income
taxes on income																							7,270,000
net income (income) attributable to non-controlling interests
net income attributable to solaredge technologies, inc.
net basic earnings per share of common stock attributable to solaredge technologies, inc.
net diluted earnings per share of common stock attributable to solaredge technologies, inc.
weighted-average number of shares used in computing net basic earnings per share of common stock
weighted-average number of shares used in computing net diluted earnings per share of common stock
other comprehensive income:
available-for-sale securities:
changes in unrealized gains, net of tax
reclassification adjustments for losses included in net income
net change
cash flow hedges:
changes in unrealized gains, net of tax expense
reclassification adjustments for loses, net of tax expense included in net income
foreign currency translation adjustments
total other comprehensive income
comprehensive income
comprehensive loss attributable to non-controlling interests
comprehensive income attributable to solaredge technologies, inc.
balance as of january 1, 2018																							43,812,601,000
cumulative effect of adopting asc 606
issuance of common stock upon exercise of employee and non-employees stock-based awards																							1,084,507,000
stock-based compensation expenses to employees and non-employee consultants
other comprehensive loss adjustments
balance as of march 31, 2018																							44,897,108,000
balance as of june 30, 2018																							45,498,414,000
*
balance as of september 30, 2018																							45,750,400,000
balance as of january 1, 2019																							46,052,802,000
consideration in common stock related to business combination																							1,194,046,000
non-controlling interests related to business combination
change to non-controlling interests
balance as of march 31, 2019																							47,501,363,000
other comprehensive income adjustments
balance as of june 30, 2019																							47,967,425,000
balance as of september 30, 2019																							48,576,288,000
stock-based compensation																							38,685,000	21,076,000	9,704,000	30,618,000	21,927,000	13,977,000	6,849,000	17,564,000	12,183,000	7,646,000	3,612,000	3,100,000	9,089,000
realized gain from cash flow hedge																										-31,000	-9,000
realized income from sale of available-for-sale marketable securities																							91,000	91,000	120,000	137,000
deferred tax assets and liabilities																							-4,923,000	-1,960,000	-973,000	-7,093,000
proceeds from borrowing loans																							232,000
purchase of land and building under finance lease																							-1,248,000
increase in cash and cash equivalents and restricted cash																							49,230,000	-12,372,000
operating lease, right of use assets																							36,174,000	38,374,000
revenue																							4,235,000
components of purchase price:
cash																							42,240,000
less cash acquired																							-3,805,000
common stock																							34,601,000
total purchase price																							73,036,000
allocation of purchase price:
total net identifiable assets																							7,947,000
total identifiable intangible assets, net of deferred tax liabilities and goodwill																							132,822,000
non-controlling interest																							-67,733,000
total purchase price allocation																							73,036,000
intangible assets with finite lived:
current technology																							28,775,000
customer relationships																							3,640,000
trade names																							3,456,000
patents																							1,400,000
gross intangible assets																							37,271,000
less - accumulated amortization																							-4,538,000
total intangible assets																							32,733,000
goodwill:
goodwill from business combinations																							34,874,000
foreign currency translation																							-2,282,000
intangible assets with finite lived, net and goodwill resulted from smre acquisition																							135,470,000
total intangible assets with finite lived, net and goodwill																							200,795,000
raw materials																							65,495,000
work in process																							22,549,000
finished goods																							46,239,000
balance, at beginning of period																							121,826,000
additions and adjustments to cost of revenues																							79,791,000
usage and current warranty expenses																							-30,263,000
balance at end of period																							171,354,000
less current portion																							-45,887,000
long term portion																							125,467,000
description
measured at fair value on a recurring basis:
assets:
cash equivalents:
money market mutual funds
short-term marketable securities:
corporate bonds
governmental bonds
long-term marketable securities:
liabilities
short-term earn-out provision
long-term earn-out provision
operating lease assets, net of lease incentive obligation
finance lease assets
total lease assets
operating and finance leases short term
operating leases long term
finance leases long term
total lease liabilities
weighted-average remaining lease term in years
operating leases
finance leases
weighted-average annual discount rate
finance lease cost
amortization of leased assets																							20,000
interest on lease liabilities																							12,000
operating lease cost																							2,517,000
total lease cost																							2,549,000
cash paid for amounts included in measurement of lease liabilities
operating cash flows for operating and finance leases																							2,560,000
financing cash flows for finance leases																							1,248,000
2019																							13,912,000
2020
2021
2022
2023
thereafter
total lease payments
less: amount of lease payments representing interest
present value of future lease payments
less: current obligations under leases
long-term lease obligations
stock of 0.0001 par value:
outstanding as of december 31, 2018																							2,401,893,000
granted																							267,852,000
exercised																							-377,685,000
forfeited and expired																							-11,324,000
outstanding as of september 30, 2019																							2,280,736,000
vested and expected to vest as of september 30, 2019																							2,253,031,000
exercisable as of september 30, 2019																							1,910,609,000
unvested as of december 31, 2018																							2,807,232,000
vested																							-858,914,000
forfeited																							-225,800,000
unvested as of september 30, 2019																							2,330,630,000
issuance date
2014																							5,249,000
2016																							3,084,000
2017																							10,376,000
2018																							16,012,000
selling and marketing																							2,779,000
non-recurring expenses																							6,242,000
total stock-based compensation expense																							17,609,000
basic eps:
numerator:
denominator:
shares used in computing net earnings per share of common stock, basic
diluted eps:
undistributed earnings reallocated to non-vested stockholders
weighted-average effect of dilutive securities:
non-vested psu’s
effect of stock-based awards
shares used in computing net earnings per share of common stock, diluted
current year taxes
deferred tax income net, and others
total deferred tax assets																							28,585,000
total deferred tax liabilities																							-19,167,000
recorded as:
net deferred tax assets																							9,418,000
balance at january 1,																							8,499,000
increases related to current year tax positions																							1,371,000
decreases related to prior year tax positions
solar																							1,266,831,000
non-solar																							124,139,000
adjustments																							-53,378,000
inverters shipped																							187,887,000
power optimizers shipped																							4,587,380,000
megawatts shipped																							1,498,000
net income (gain) attributable to non-controlling interests
financial expense																							22,401,000
tax on income																							24,405,000
exhibit no.
10.1
31.1
31.2
32.1
32.2
101.ins
101.sch
101.cal
101.def
101.lab
101.pre
104
date: november 7, 2019
withdrawal from bank deposits																								3,909,000
capital income from disposal of equipment																									66,000	445,000
investment in short term bank deposits																									-56,000	-6,001,000	-7,779,000
proceeds from bank loans borrowing																									51,000
payments of bank loans																									-1,003,000
purchase of intangible assets																																			-800,000	-800,000	-800,000	-800,000
repayment of bank loan																										-3,786,000
issuance costs related to initial public offering																																			-194,000
purchase of non-controlling interests																										-14,190,000
supplemental disclosure of non-cash investing activities:
net change in accrued expenses and other accounts payable related to property and equipment additions																														598,000
supplemental disclosure of cash flow information:
cash paid for taxes																										15,368,000
depreciation of property and equipment																											7,997,000
amortization of premiums on available-for-sale marketable securities																											1,242,000	1,014,000	778,000		1,310,000	791,000	383,000	332,000	532,000	209,000	35,000
loss on disposals of fixed assets																											64,000	64,000	64,000
accrued expenses and other liabilities																											-819,000
cash flows used in investing activities:
purchase of property and equipment																											-30,051,000	-21,385,000	-11,325,000	-21,382,000	-13,203,000	-7,611,000	-1,872,000	-3,815,000	-15,690,000	-11,545,000	-5,636,000	-3,292,000	-11,765,000	-8,254,000
acquisitions and purchases of assets																											-11,223,000
maturities of available-for-sale marketable securities																											71,632,000	46,825,000	34,500,000	80,269,000	46,513,000	31,674,000	15,665,000	15,304,000	6,350,000	1,000,000
net increase in cash, cash equivalents and restricted cash																											29,549,000	51,512,000	66,323,000
depreciation and amortization of property, equipment and intangible assets																												5,053,000	2,430,000	7,155,000	4,932,000	3,130,000	1,520,000
prepaid expenses and other accounts receivable																												-2,135,000	9,210,000	-21,937,000	-17,360,000	-12,547,000	-4,583,000	4,176,000	10,542,000	13,186,000	6,504,000	11,811,000	-19,563,000	-12,198,000
accrued expenses and other accounts payable																												6,194,000	6,527,000		7,537,000	3,958,000	311,000	-2,015,000	3,934,000	497,000	-273,000	1,467,000	2,530,000	43,601,000
lease incentive obligation																												-148,000	-74,000	-296,000	-223,000	-148,000	-74,000	-162,000	-88,000	-120,000	-65,000	-11,000	2,669,000	2,243,000
increase in short and long-term lease deposits																																	-66,000
proceeds from issuance of shares upon exercise of options																													4,605,000		3,795,000	2,123,000	371,000	273,000
financial income, net related to term loan
remeasurement of warrants to purchase convertible preferred stock																																							5,350,000
capital income from disposal of property																																							104,000
accrued expenses, other accounts payable and non-current tax liabilities																														27,839,000
decrease (increase) in restricted cash																														-619,000	-503,000	-200,000	-94,000	-18,000	2,711,000	2,695,000	222,000
decrease (increase) in long-term lease deposit																																			103,000
proceeds from short term bank loan																																							23,000,000
repayment of short term bank loan																																							-36,326,000
repayments of term loan																																							-5,919,000
proceeds from issuance of series e convertible preferred stock																																							24,712,000	24,712,000
proceeds from initial public offering																																							131,402,000	133,944,000
supplemental disclosure of non-cash investing and financing activities:
deferred issuance costs related to initial public offering																																							194,000
cashless exercise of warrants to purchase common stock
cash paid for interest																																							896,000
cash paid for income taxes																														3,100,000					1,178,000				4,040,000
realized losses on cash flow hedges																																						1,000
decrease (increase) in short and long-term lease deposits																															-60,000	-128,000		-29,000		23,000	37,000
depreciation																																		1,271,000	3,763,000	2,601,000	1,629,000	738,000	2,253,000	1,647,000
financial expenses (income), net related to term loan																																							-992,000	-992,000
interest expenses related to short term bank loan
proceeds from issuance of series d-2 convertible preferred stock
proceeds from issuance of series d-3 convertible preferred stock
proceeds from issuance of shares under stock purchase plan and upon exercise of options																																			2,973,000
supplemental disclosure of non-cash financing activities:
stock-based compensation related to employees and non-employees consultants stock options																																				6,689,000	4,057,000
remeasurement of warrants to purchase preferred and common stock																																								2,065,000
purchases of available-for-sale marketable securities																																				-88,883,000
proceeds from short-term bank loans																																								23,000,000
repayments of short term loan
proceeds from issuance of stock
proceeds from ipo
proceeds from exercise of employees and non-employees consultants stock options																																				2,639,000
erosion due to exchange rate differences																																				-201,000	-85,000	-16,000		-121,000
issuance expenses not paid in cash																																								2,489,000
realized gains on cash flow hedges																																					-2,000
issuance costs
proceeds from exercise of employee stock options																																					1,472,000	17,000		46,000
deferred issuance costs related to ipo
purchase of property and equipment not paid in cash																																					475,000
stock-based compensation related to employee and non-employee consultants stock options																																						1,832,000		1,750,000
interest expenses related to bank loan
decrease in restricted cash																																						51,000
decrease in short and long-term lease deposits																																						73,000
payments of term loan																																								-5,919,000
deferred issuance costs
issuance of series e convertible preferred stock in consideration of receivables on account of stock
exercise of employee stock options not paid in cash																																						3,000
unrealized gains on cash flow hedges																																						37,000
stock-based compensation related to employees and non-employee consultants stock options																																							2,956,000
increase in restricted cash																																							-2,038,000	-1,973,000
increase in long-term lease deposit																																							-134,000
proceeds from term loan
deferred charges related to term loan
proceeds from issuance of series d-1 convertible preferred stock
receipts on account of convertible preferred stock
proceeds from exercise of employees and non-employee consultants stock options																																							84,000
cashless exersice of warrants to purchase common stock																																							6,115,000
cash flows used in operating activities:
decrease (increase) in long-term deposits																																								-24,000
repayments of short-term bank loans																																								-36,326,000
receipt on account of shares

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