SolarEdge
(NASDAQ:SEDG)

SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It offers inverters, power optimizers, communication devices, and smart energy management solutions used in r...

Website: http://www.solaredge.com

Founded: 2006

Full Time Employees: 5,285 (Jun 2023)

Founder: Guy Sella

Co-Founder: Lior Handelsman

CEO: Zvi Lando

Sector: Technology

Industry: Solar

Solar Energy

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At a glance:

Demand Weakness and Channel Inventory Overhang Persist: Residential solar demand remains pressured by high interest rates and slower installer activity, while distributors and installers continue working through elevated inventory levels, weighing on near-term shipments and revenue.
Margins Compressed by Under-Utilization and Pricing Pressure: Gross margin has been pressured by lower volumes, manufacturing under-absorption, and competitive pricing as the company moves product and right-sizes production to match demand.
Cost Actions and Restructuring to Reduce Operating Expense Base: Management has implemented layoffs and broader cost controls to align the expense structure with current market conditions, aiming to limit cash burn and support a return to profitability when demand normalizes.
Liquidity Focus: Working-Capital and Cash Preservation Key: The company is prioritizing inventory reductions, receivables discipline, and capex restraint to stabilize free cash flow and maintain balance-sheet flexibility through the downturn.
Recovery Dependent on Rate Relief, Policy Support, and Product Execution: A sustained rebound likely hinges on easing financing conditions, improving installer sentiment, and successful execution across inverters, optimizers, storage, and commercial offerings amid intense competition.

Bull Thesis:

Technological Leadership and Ecosystem Expansion: SolarEdge's differentiated DC-optimized inverter technology offers advantages in safety, efficiency, and module-level monitoring. Continued innovation in energy management solutions, including battery storage, EV charging, and grid services, expands their ecosystem and value proposition, creating stickiness with installers and end-users.
Long-Term Global Solar Market Growth: The secular trend towards renewable energy, driven by climate change initiatives, energy independence goals, and decreasing long-term costs of solar, provides a strong underlying growth driver for the entire solar industry. As a leading player, SolarEdge is well-positioned to benefit from this sustained market expansion.
Diversification into New Markets and Segments: SolarEdge is actively expanding its footprint beyond its traditional residential focus into the commercial & industrial (C&I) and utility-scale segments. This diversification, along with geographical expansion into new regions, helps reduce reliance on any single market segment and opens up new avenues for revenue growth.
Potential for Supply Chain Normalization and Margin Recovery: After periods of elevated component costs and supply chain disruptions, a normalization of global supply chains and a potential decrease in component prices could lead to significant improvements in SolarEdge's gross margins. As channel inventory clears, the company could see a rebound in order volumes and profitability.

Bear Thesis:

Intense Competition and Pricing Pressure: The solar inverter market is highly competitive, with strong rivals like Enphase Energy (microinverters) and other global players. This intense competition can lead to pricing pressure, margin erosion, and potential market share loss, especially in key residential segments where Enphase has gained traction.
High Channel Inventory and Demand Slowdown: SolarEdge has reported significant inventory buildup in its distribution channels, particularly in Europe, indicating a slowdown in end-user demand. This oversupply can lead to reduced future orders, potential inventory write-downs, and prolonged periods of lower sales as the channel works through existing stock.
Macroeconomic Headwinds and High Interest Rates: Elevated interest rates significantly increase the cost of financing solar installations for both consumers and developers, dampening demand, especially in the crucial residential segment. General economic uncertainty and inflation also impact discretionary spending, further slowing market growth.
Profitability and Margin Compression: Recent financial results have shown significant pressure on SolarEdge's gross margins and overall profitability. This compression is driven by a combination of factors including higher component costs, inventory write-downs, increased operational expenses, and the need to offer competitive pricing in a challenging market.

Main Competitors:

Enphase Energy ($ENPH) (Microinverters, IQ Batteries), A primary competitor in the residential and light commercial solar market, offering microinverters that provide module-level power optimization, monitoring, and energy storage solutions, directly competing with SolarEdge's DC optimized inverter systems.
SMA Solar Technology AG ($S92.DE) (String inverters, hybrid inverters), A global leader in string inverters for residential, commercial, and utility-scale solar. While not offering module-level power electronics, they compete on price, reliability, and market share for the inverter component of solar systems, increasingly integrating storage and energy management.
Sungrow Power Supply Co., Ltd. ($300274.SZ) (String inverters, central inverters, energy storage systems), A leading global inverter supplier, offering a comprehensive range of string and central inverters for all market segments, including residential. They compete on cost, product breadth, and reliability, increasingly integrating energy storage solutions and smart energy management.
Tesla, Inc. ($TSLA) (Solar Roof, Powerwall, Tesla Inverter), Competes in the residential solar and energy storage market by offering integrated solar panel solutions (including Solar Roof), battery storage (Powerwall), and their own inverters, aiming for a complete ecosystem solution for homeowners.

Moat:

SolarEdge's primary moat lies in its patented DC optimized inverter technology, offering enhanced energy harvest, safety, and module-level monitoring. However, it faces intense competition from various fronts: direct module-level power electronics (MLPE) rivals like Enphase, traditional string inverter manufacturers (e.g., SMA, Sungrow) who compete on cost and scale, and integrated solution providers like Tesla that offer full ecosystem approaches. The market is characterized by continuous technological innovation, aggressive pricing, and the increasing demand for integrated solar-plus-storage solutions.

Income Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	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

stock-based compensation expenses:
cost of revenues	975,828,000	3,959,000	257,298,000	201,944,000	308,471,000	963,229,000	276,374,000	230,586,000	372,469,000	582,488,000	673,985,000	643,763,000	629,655,000	614,722,000	545,132,000	476,122,000	391,424,000	353,843,000	323,865,000	265,415,000	247,782,000	230,032,000	228,888,000	291,210,000	274,974,000	271,247,000	214,340,000	185,761,000	-274,945,000	158,596,000	145,172,000	130,274,000	118,370,000	108,498,000	89,033,000	76,378,000	86,609,000	85,639,000	84,471,000	86,250,000	81,527,000	70,149,000	62,698,000
research and development	184,807,000	10,681,000	53,386,000	61,997,000	62,238,000	70,372,000	69,276,000	75,351,000	75,001,000	80,082,000	86,526,000	79,873,000	78,959,000	69,659,000	74,847,000	66,349,000	64,326,000	55,666,000	52,664,000	46,977,000	47,513,000	40,817,000	38,098,000	36,695,000	34,900,000	30,747,000	29,505,000	26,199,000	-37,256,000	20,109,000	19,551,000	17,875,000	16,420,000	14,363,000	12,725,000	11,458,000	9,935,000	9,232,000	8,709,000	8,299,000	6,991,000	6,701,000	5,490,000
sales and marketing	103,900,000	4,348,000	28,725,000	31,657,000	30,549,000	37,427,000	39,978,000	38,911,000	38,779,000	40,351,000	44,222,000	40,966,000	42,663,000	42,726,000	38,975,000	35,316,000	33,248,000	29,383,000	29,458,000	26,911,000	28,872,000	21,924,000	20,936,000	24,253,000	23,659,000	22,026,000	22,127,000	20,172,000	-28,653,000	16,938,000	15,954,000	16,205,000	14,079,000	13,217,000	11,961,000	10,775,000	10,036,000	8,930,000	8,826,000	8,833,000	8,244,000	7,432,000	6,422,000
general and administrative	90,678,000	2,897,000	19,789,000	30,183,000	36,370,000	41,212,000	39,008,000	30,865,000	34,628,000	39,110,000	36,199,000	36,567,000	30,013,000	27,933,000	28,121,000	26,429,000	21,879,000	21,098,000	19,370,000	19,849,000	18,042,000	14,928,000	13,964,000	16,185,000	11,771,000	12,214,000	13,685,000	11,691,000	-10,637,000	6,898,000	5,776,000	4,689,000	5,900,000	5,078,000	3,265,000	4,439,000	3,664,000	3,067,000	3,460,000	2,188,000	3,418,000	2,265,000	1,990,000
total stock-based compensation expenses	18,143,000	21,885,000
stock-based compensation capitalized:
inventory	344,750	300,000
other long-term assets	303,500	382,000
total stock-based compensation capitalized	648,250	682,000
revenues			289,429,000	219,480,000	170,749,000	260,903,000	265,405,000	204,399,000	316,044,000	725,305,000	991,290,000	943,889,000	890,702,000	836,723,000	727,774,000	655,080,000	551,915,000	526,404,000	480,057,000	405,489,000	358,107,000	338,095,000	331,851,000	431,218,000	418,223,000	410,556,000	325,010,000	271,871,000	-433,570,000	236,578,000	227,118,000	209,871,000	189,340,000	166,552,000	136,099,000	115,054,000	128,484,000	124,752,000	125,205,000	124,832,000	115,054,000	98,420,000	86,399,000
yoy			9.05%	7.38%	-45.97%	-64.03%	-73.23%	-78.35%	-64.52%	-13.32%	36.21%	44.09%	61.38%	58.95%	51.60%	61.55%	54.12%	55.70%	44.66%	-5.97%	-14.37%	-17.65%	2.10%	58.61%	-196.46%	73.54%	43.10%	29.54%	-328.99%	42.04%	66.88%	82.41%	47.36%	33.51%	8.70%	-7.83%	11.67%	26.75%	44.91%
qoq			31.87%	28.54%	-34.55%	-1.70%	29.85%	-35.33%	-56.43%	-26.83%	5.02%	5.97%	6.45%	14.97%	11.10%	18.69%	4.85%	9.65%	18.39%	13.23%	5.92%	1.88%	-23.04%	3.11%	1.87%	26.32%	19.55%	-162.71%	-283.27%	4.17%	8.22%	10.84%	13.68%	22.38%	18.29%	-10.45%	2.99%	-0.36%	0.30%	8.50%	16.90%	13.91%
gross profit			32,131,000	17,536,000	-137,722,000	-702,326,000	-10,969,000	-26,187,000	-56,425,000	142,817,000	317,305,000	300,126,000	261,047,000	222,001,000	182,642,000	178,958,000	160,491,000	172,561,000	156,192,000	140,074,000	110,325,000	108,063,000	102,963,000	140,008,000	143,249,000	139,309,000	110,670,000	86,110,000	-158,625,000	77,982,000	81,946,000	79,597,000	70,970,000	58,054,000	47,066,000	38,676,000	41,875,000	39,113,000	40,734,000	38,582,000	33,527,000	28,271,000	23,701,000
yoy			-392.93%	-166.96%	144.08%	-591.77%	-103.46%	-108.73%	-121.61%	-35.67%	73.73%	67.71%	62.66%	28.65%	16.93%	27.76%	45.47%	59.69%	51.70%	0.05%	-22.98%	-22.43%	-6.96%	62.59%	-190.31%	78.64%	35.05%	8.18%	-323.51%	34.33%	74.11%	105.80%	69.48%	48.43%	15.54%	0.24%	24.90%	38.35%	71.87%
qoq			83.23%	-112.73%	-80.39%	6302.83%	-58.11%	-53.59%	-139.51%	-54.99%	5.72%	14.97%	17.59%	21.55%	2.06%	11.51%	-6.99%	10.48%	11.51%	26.96%	2.09%	4.95%	-26.46%	-2.26%	2.83%	25.88%	28.52%	-154.29%	-303.41%	-4.84%	2.95%	12.16%	22.25%	23.35%	21.69%	-7.64%	7.06%	-3.98%	5.58%	15.08%	18.59%	19.28%
gross margin %	NaN%	NaN%	11.10%	7.99%	-80.66%	-269.19%	-4.13%	-12.81%	-17.85%	19.69%	32.01%	31.80%	29.31%	26.53%	25.10%	27.32%	29.08%	32.78%	32.54%	34.54%	30.81%	31.96%	31.03%	32.47%	34.25%	33.93%	34.05%	31.67%	36.59%	32.96%	36.08%	37.93%	37.48%	34.86%	34.58%	33.62%	32.59%	31.35%	32.53%	30.91%	29.14%	28.72%	27.43%
operating expenses:
other operating expense			45,724,000	-3,575,000	59,317,750	233,929,000	951,000	2,391,000	-358,500
total operating expenses			147,624,000	120,262,000	151,413,000	382,940,000	149,213,000	147,518,000	181,156,000	159,543,000	166,947,000	155,972,000	266,210,000	137,594,000	146,630,000	128,094,000	119,453,000	106,147,000	100,633,000	95,946,000	95,898,000	77,669,000	72,998,000	72,233,000	92,721,000	73,292,000	65,317,000	58,062,000	-76,546,000	43,945,000	41,281,000	38,769,000	36,399,000	32,658,000	27,951,000	26,672,000	23,635,000	21,229,000	20,995,000	19,320,000	18,653,000	16,398,000	13,902,000
operating income			-115,493,000	-102,726,000	-289,135,000	-1,085,266,000	-160,182,000	-173,705,000	-237,581,000	-16,726,000	150,358,000	144,154,000	-5,163,000	84,407,000	36,012,000	50,864,000	41,038,000	66,414,000	55,559,000	44,128,000	14,427,000	30,394,000	29,965,000	67,775,000	50,528,000	66,017,000	45,353,000	28,048,000	-82,079,000	34,037,000	40,665,000	40,828,000	34,571,000	25,396,000	19,115,000	12,004,000	18,240,000	17,884,000	19,739,000	19,262,000	14,874,000	11,873,000	9,799,000
yoy			-27.90%	-40.86%	21.70%	6388.50%	-206.53%	-220.50%	4501.61%	-119.82%	317.52%	183.41%	-112.58%	27.09%	-35.18%	15.26%	184.45%	118.51%	85.41%	-34.89%	-71.45%	-53.96%	-33.93%	141.64%	-161.56%	93.96%	11.53%	-31.30%	-337.42%	34.03%	112.74%	240.12%	89.53%	42.00%	-3.16%	-37.68%	22.63%	50.63%	101.44%
qoq			12.43%	-64.47%	-73.36%	577.52%	-7.79%	-26.89%	1320.43%	-111.12%	4.30%	-2892.06%	-106.12%	134.39%	-29.20%	23.94%	-38.21%	19.54%	25.90%	205.87%	-52.53%	1.43%	-55.79%	34.13%	-23.46%	45.56%	61.70%	-134.17%	-341.15%	-16.30%	-0.40%	18.10%	36.13%	32.86%	59.24%	-34.19%	1.99%	-9.40%	2.48%	29.50%	25.28%	21.17%
operating margin %	NaN%	NaN%	-39.90%	-46.80%	-169.33%	-415.97%	-60.35%	-84.98%	-75.17%	-2.31%	15.17%	15.27%	-0.58%	10.09%	4.95%	7.76%	7.44%	12.62%	11.57%	10.88%	4.03%	8.99%	9.03%	15.72%	12.08%	16.08%	13.95%	10.32%	18.93%	14.39%	17.90%	19.45%	18.26%	15.25%	14.04%	10.43%	14.20%	14.34%	15.77%	15.43%	12.93%	12.06%	11.34%
financial income			-7,323,000	10,068,000	-12,199,000	5,558,000	-865,000	-7,064,000	22,055,000	-7,901,000	3,384,000	23,674,000																				584,000	1,917,750	2,666,000		1,410,000
other income			4,017,000	148,000	-76,000	-3,928,000	18,551,000		291,000	-484,000			186,000	7,533,000
income before income taxes			-118,799,000	-92,510,000	-301,410,000	-1,083,636,000	-142,496,000	-180,769,000	-215,235,000	-25,111,000	153,742,000	167,703,000	51,124,000	58,915,000	21,701,000	45,415,000	34,714,000	60,663,000	53,816,000	38,031,000	24,807,000	46,159,000	41,530,000	51,170,000
tax benefits			-5,657,000	-5,726,000			12,245,000	23,754,000
net loss from equity method investments			-288,000	-287,000	-456,000	-577,000	-567,000	-296,000
net income			-124,744,000	-98,523,000	-312,907,000	-1,205,321,000	-130,818,000	-157,311,000	-162,383,000	-61,176,000	119,510,000	138,378,000	20,829,000	24,743,000	15,084,000	33,123,000	40,954,000	53,048,000	45,092,000	30,076,000	17,655,000	43,751,000	36,668,000	42,248,000	52,345,000	41,724,000	32,913,000	17,975,000	-90,516,000	45,643,000	34,568,000	35,686,000	19,502,000	27,971,000	22,524,000	14,175,000	15,616,000	17,273,000	20,799,000	24,105,000	14,432,000	9,261,000	5,965,000
yoy			-4.64%	-37.37%	92.70%	1870.25%	-209.46%	-213.68%	-879.60%	-347.25%	692.30%	317.77%	-49.14%	-53.36%	-66.55%	10.13%	131.97%	21.25%	22.97%	-28.81%	-66.27%	4.86%	11.41%	135.04%	-157.83%	-8.59%	-4.79%	-49.63%	-564.14%	63.18%	53.47%	151.75%	24.88%	61.93%	8.29%	-41.19%	8.20%	86.51%	248.68%
qoq			26.61%	-68.51%	-74.04%	821.37%	-16.84%	-3.12%	165.44%	-151.19%	-13.64%	564.35%	-15.82%	64.03%	-54.46%	-19.12%	-22.80%	17.64%	49.93%	70.35%	-59.65%	19.32%	-13.21%	-19.29%	25.46%	26.77%	83.10%	-119.86%	-298.31%	32.04%	-3.13%	82.99%	-30.28%	24.18%	58.90%	-9.23%	-9.59%	-16.95%	-13.71%	67.02%	55.84%	55.26%
net income margin %	NaN%	NaN%	-43.10%	-44.89%	-183.26%	-461.98%	-49.29%	-76.96%	-51.38%	-8.43%	12.06%	14.66%	2.34%	2.96%	2.07%	5.06%	7.42%	10.08%	9.39%	7.42%	4.93%	12.94%	11.05%	9.80%	12.52%	10.16%	10.13%	6.61%	20.88%	19.29%	15.22%	17.00%	10.30%	16.79%	16.55%	12.32%	12.15%	13.85%	16.61%	19.31%	12.54%	9.41%	6.90%
net basic and diluted loss per share of common stock			-2.13	-1.7
weighted-average number of shares used in computing net basic and diluted loss per share of common stock			58,567,394	58,121,502
income taxes					-11,041,000	-121,108,000			-53,202,000	36,065,000	34,232,000	29,325,000	30,295,000	34,172,000	6,617,000	12,292,000	-6,240,000	7,615,000	8,724,000	7,955,000	7,152,000	2,408,000	4,862,000	8,922,000
net basic earnings per share of common stock					-5.42	-21.13	-2.31	-2.75	-2.88	-1.08	2.12	2.46	0.37	0.44	0.27	0.62	0.78	1.01	0.87	0.58									0.643	1	0.76	0.81	0.44	0.66	0.54	0.34	0.38	0.43	0.52	0.61	0.37	0.28	0.01
net diluted earnings per share of common stock					-5.42	-21.13	-2.31	-2.75	-2.74	-1.08	2.03	2.35	0.36	0.43	0.26	0.6	0.74	0.96	0.82	0.55									0.603	0.95	0.72	0.75	0.41	0.61	0.5	0.32	0.35	0.39	0.47	0.55	0.32	0.26	0.01
weighted-average number of shares used in computing net basic earnings per share of common stock	58,954,380				57,082,182	57,029,983	56,687,006	57,140,126		56,671,504	56,415,636	56,215,490		55,730,328	55,470,279		52,202,182	52,355,867	52,076,208	51,726,998	50,217,330	50,529,691	49,786,586	49,193,240	47,918,938		47,683,799	47,020,218	41,026,926	45,601,540	45,216,253	44,231,679	42,209,238	42,433,648	41,700,399	41,348,225	40,926,887	39,987,935	40,362,093	39,511,967	39,301,620	11,902,911	2,822,893
weighted-average number of shares used in computing net diluted earnings per share of common stock	58,954,380				57,082,182	57,029,983	56,687,006	57,140,126		56,671,504	59,183,666	59,193,831		58,747,538	58,564,734		55,971,030	55,929,000	55,930,562	55,997,136	52,795,475	53,144,188	52,536,437	52,172,720	50,195,661		49,940,034	49,026,327	43,839,342	48,281,240	48,291,280	47,673,522	45,425,307	46,131,556	44,831,590	43,837,505	43,995,227	44,376,075	44,577,901	44,007,348	44,455,964	15,269,448	7,099,046
other loss												-125,000
other operating income												-1,434,000												-4,900,000
other operating expenses (income)													490,750	-2,724,000	4,687,000				-859,000	2,209,000
financial expense													-13,196,250	-33,025,000	-14,311,000	-5,449,000
other operating expenses																					-1,225,000
weighted average number of shares used in computing net basic earnings per share of common stock									56,557,106				55,087,770			53,134,937
weighted average number of shares used in computing net diluted earnings per share of common stock									57,237,518				58,100,649			56,315,193
financial income (expenses)																	-3,397,750	-5,751,000	-1,743,000				11,565,000								-2,480,000				3,595,000		390,000	-527,000	2,029,000	-959,000	-72,000
net income per share
financial expenses																				6,097,000				16,605,000	5,600,250	17,023,000																1,699,000	3,436,000
financial expenses (income)																					-10,380,000	-15,765,000					-773,000	6,151,000	204,000	689,000
net income (income) attributable to non-controlling interests																									289,750	-97,000
net income attributable to solaredge technologies, inc.																					17,655,000	43,751,000	36,668,000	42,248,000	52,778,000	41,627,000	33,128,000	19,016,000
net basic earnings per share of common stock attributable to solaredge technologies, inc.																					0.33	0.87	0.74	0.86	1.09	0.86	0.69	0.4
net diluted earnings per share of common stock attributable to solaredge technologies, inc.																					0.33	0.83	0.7	0.81			0.66	0.39
net income attributable to non-controlling interests																											215,000	1,041,000
non recurring expenses																									2,076,250	8,305,000
income before taxes on income																									29,254,250	48,994,000	46,126,000	21,897,000	-82,283,000	33,348,000	38,185,000	41,348,000	36,058,000	28,062,000	22,710,000	13,414,000	18,630,000	17,357,000	21,768,000	18,303,000	14,802,000	10,070,000	6,363,000
taxes on income																									6,101,250	7,270,000	13,213,000	3,922,000	8,233,000	-12,295,000	3,617,000	5,662,000	16,556,000	91,000	186,000		3,014,000	84,000	969,000	-5,802,000	370,000	809,000	398,000
net diluted earnings per share of common stock attributable to solaredge technologies, inc.																									0.468	0.81
weighted-average number of shares used in computing net basic earnings per share of common stock																										48,195,020
weighted-average number of shares used in computing net diluted earnings per share of common stock																										51,081,594
other incomes
other expenses																																64,000
tax benefit																																				761,000
other comprehensive income
change in comprehensive income related to foreign currency translation adjustments																																										41	-102
total comprehensive income																																										9,302	5,863

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	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	512,381,000	455,075,000	439,515,000	545,240,000	401,364,000	274,611,000	303,904,000	259,498,000	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	685,157,000	827,146,000		428,372,000	324,072,000		247,342,000	176,575,000	226,478,000	191,633,000	192,876,000		229,219,000	163,163,000	149,448,000	113,452,000	119,933,000	90,014,000
restricted cash	40,985,000	84,771,000	47,481,000	27,266,000	104,459,000	135,328,000																							1,811,000	1,628,000	2,083,000		1,766,000	1,516,000	1,400,000	1,097,000	991,000	946,000
marketable securities	29,269,000	38,097,000	59,064,000	212,754,000	250,267,000	311,279,000	374,869,000	430,333,000	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	139,079,000	143,687,000		113,032,000	95,143,000		85,343,000	109,610,000	107,064,000	118,680,000	148,252,000		81,229,000	77,264,000	81,488,000	80,225,000	81,800,000	61,786,000
trade receivables, net of allowance	222,704,000	267,441,000	286,258,000	217,098,000	132,577,000	160,423,000	239,408,000	295,590,000	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	271,713,000	218,706,000		181,700,000	235,673,000
inventories	596,824,000	552,632,000	530,799,000	529,306,000	636,597,000	645,897,000	798,383,000	1,505,101,000	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	340,038,000	331,696,000	-121,999,000	264,460,000	198,557,000	-22,544,000	134,283,000	148,892,000	150,798,000	141,519,000	107,179,000	-18,952,000	98,363,000	82,992,000	62,356,000	56,205,000	60,913,000	68,434,000	-7,356,000	-11,446,000	-13,452,000	-5,956,000	-48,507,000	-39,071,000
prepaid expenses and other current assets	414,518,000	341,831,000	404,399,000	440,249,000	464,419,000	506,769,000	401,551,000	402,673,000	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	102,985,000	135,399,000		79,867,000	66,874,000		68,234,000		37,828,000	45,073,000	46,396,000
total current assets	1,816,681,000	1,739,847,000	1,767,516,000	1,971,913,000	1,989,683,000	2,034,307,000	2,118,115,000	2,893,195,000	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	1,585,107,000	1,719,341,000		1,072,998,000	955,919,000		834,803,000	730,544,000	717,532,000	678,113,000	655,653,000		571,212,000	476,686,000	424,587,000	364,939,000	369,466,000	323,354,000
long-term assets:
property, plant and equipment	264,965,000	269,351,000	318,230,000	327,101,000	339,824,000	343,438,000	423,905,000	595,623,000	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	312,214,000	303,408,000		226,416,000	195,982,000		149,675,000	140,200,000	132,988,000
operating lease right-of-use assets	50,085,000	48,178,000	41,937,000	44,808,000	48,639,000	41,393,000	43,088,000	53,510,000	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	39,804,000	41,600,000		36,951,000	37,896,000		34,601,000	36,788,000	30,839,000
intangible assets	6,420,000	7,129,000	7,754,000	8,437,000	8,874,000		11,169,000	36,790,000	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	64,196,000	67,818,000		68,211,000	69,111,000					38,504,000	3,762,000							695,000
goodwill	49,852,000	50,123,000	50,520,000	51,346,000	48,626,000		51,875,000	52,042,000	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	134,620,000	140,479,000		128,279,000	125,520,000					34,874,000	2,782,000
other long-term assets	72,505,000	67,566,000	46,353,000	63,680,000	55,476,000	64,736,000	112,201,000	65,046,000	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	16,473,000	5,353,000		8,166,000	8,454,000
total long-term assets	443,827,000	442,347,000	464,794,000	518,535,000	535,490,000	595,888,000	698,279,000	1,055,019,000	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	879,488,000	717,768,000		532,828,000	557,921,000		502,789,000
total assets	2,260,508,000	2,182,194,000	2,232,310,000	2,490,448,000	2,525,173,000	2,630,195,000	2,816,394,000	3,948,214,000	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	2,464,595,000	2,437,109,000		1,605,826,000	1,513,840,000		1,337,592,000	1,221,694,000	1,176,923,000	964,472,000	852,178,000		731,561,000	641,305,000	549,206,000	492,422,000	456,970,000	412,945,000
liabilities and stockholders’ equity
current liabilities:
trade payables	404,507,000	271,983,000	283,505,000	178,723,000	135,435,000	93,491,000	94,730,000	134,421,000	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	122,063,000	162,051,000	-35,499,000	158,264,000	139,138,000	47,837,000	132,230,000	116,795,000	90,190,000	107,079,000	83,459,000	12,143,000	83,091,000	69,488,000	42,700,000	36,029,000	43,740,000	40,282,000	-32,200,000	-35,554,000	-18,701,000	-13,500,000	41,111,000	-1,264,000
employees and payroll accruals	81,990,000	73,992,000	70,829,000	66,956,000	76,360,000	76,292,000	70,120,000	67,810,000	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	63,929,000	63,738,000	3,132,000	48,764,000	58,894,000	18,592,000	44,386,000	34,555,000	31,524,000	29,053,000	23,680,000	1,028,000	29,733,000	22,544,000	17,640,000	14,286,000	11,767,000	11,975,000	3,278,000	5,517,000	6,073,000	1,044,000	1,668,000	883,000
warranty obligations	83,685,000	89,330,000	111,738,000	115,057,000	125,172,000	140,249,000	163,561,000	169,214,000	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	63,443,000	62,614,000	23,155,000	68,674,000	70,158,000	50,780,000	45,887,000	38,819,000	35,229,000	28,868,000	21,660,000	18,479,000	16,605,000	14,785,000	12,942,000	12,501,000	12,895,000	15,103,000	19,313,000	14,780,000	9,015,000	4,025,000	13,698,000	9,718,000
deferred revenues and customers advances	38,540,000	70,371,000	45,873,000	37,174,000	76,491,000	140,870,000	27,367,000	28,457,000	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	21,065,000	24,648,000	-24,283,000	25,625,000	30,706,000
accrued expenses and other current liabilities	288,549,000	297,819,000	262,842,000	276,953,000	219,496,000	243,872,000	202,134,000	166,922,000	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	111,011,000	106,154,000		88,482,000	75,737,000		80,986,000		60,369,000	29,728,000	31,556,000
total current liabilities	897,271,000	803,495,000	774,787,000	1,016,730,000	974,426,000	1,041,079,000	903,812,000	566,824,000	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	397,726,000	436,099,000		405,065,000	389,681,000		335,407,000	293,778,000	248,072,000	225,718,000	166,150,000		158,609,000	129,754,000	92,432,000	78,696,000	78,616,000	78,500,000
long-term liabilities:
convertible senior notes	331,944,000	331,561,000	331,169,000	341,867,000	341,472,000	346,305,000	345,900,000	638,703,000	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	619,357,000	573,350,000
finance lease liabilities	18,323,000	18,558,000	40,959,000	40,817,000	37,862,000	39,159,000	39,197,000	39,244,000	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	24,918,000	26,173,000
operating lease liabilities	39,307,000	36,648,000	29,961,000	32,033,000	33,325,000	30,018,000	31,293,000	36,838,000	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	32,667,000	35,194,000		29,991,000	30,336,000		29,117,000	30,009,000	24,790,000
other long-term liabilities	10,865,000	2,581,000	15,437,000	25,634,000	23,779,000	8,426,000	13,999,000	16,241,000	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	13,325,000	14,191,000		17,666,000	10,970,000
total long-term liabilities	952,517,000	951,235,000	977,763,000	960,499,000	956,534,000	930,774,000	956,216,000	1,275,201,000	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	966,945,000	915,253,000		275,960,000	257,741,000		264,997,000	247,868,000	231,334,000	168,028,000	147,065,000		132,741,000	114,084,000	87,321,000	78,523,000	71,119,000	59,499,000
commitments and contingent liabilities
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	6,000
additional paid-in capital	1,896,782,000	1,872,760,000		1,838,563,000	1,845,719,000	1,813,198,000	1,779,212,000	1,744,411,000	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	595,716,000	603,891,000		511,640,000	491,873,000		450,459,000	431,684,000	417,385,000	371,794,000	361,744,000		343,356,000	331,902,000	323,076,000	316,867,000	311,081,000	302,587,000
accumulated other comprehensive income	4,937,000																	-27,319,000	-19,135,000	-3,536,000	-6,761,000	3,857,000												-611,000				120,000
accumulated deficit	-1,491,005,000	-1,433,639,000		-1,251,458,000	-1,126,714,000																																-3,825,000	-27,765,000
total stockholders’ equity	410,720,000	427,464,000		513,219,000	594,213,000	658,342,000	956,366,000	2,106,189,000	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	1,099,924,000	1,085,757,000		924,801,000	866,418,000		737,188,000	680,048,000	697,517,000	570,726,000	538,963,000		440,211,000	397,467,000		335,203,000	307,235,000	274,946,000
total liabilities and stockholders’ equity	2,260,508,000	2,182,194,000		2,490,448,000	2,525,173,000	2,630,195,000	2,816,394,000	3,948,214,000	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	2,464,595,000	2,437,109,000		1,605,826,000	1,513,840,000		1,337,592,000	1,221,694,000	1,176,923,000	964,472,000	852,178,000		731,561,000	641,305,000		492,422,000	456,970,000	412,945,000
loan receivables						45,678,000
common stock of 0.0001 par value - authorized: 125,000,000 shares; issued: 60,360,154 shares as of december 31, 2025 and 58,780,490 shares as of december 31, 2024; outstanding: 60,360,154 shares as of december 31, 2025 and 58,027,126 shares as of december 31, 2024.		6,000
treasury stock				-16,024,000	-50,194,000	-50,194,000	-50,315,000	-50,315,000	-33,222,000
accumulated other comprehensive loss		-11,663,000		-57,868,000	-74,604,000	-76,477,000	-57,253,000	-77,950,000	-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							-3,442,000	-5,390,000		-3,356,000	-895,000	-1,220,000	-524,000	-983,000		-1,135,000		-297,000	-367,000	-25,000
deferred revenues			277,131,000	248,731,000	243,649,000	231,049,000	226,770,000	222,557,000	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	122,168,000	115,372,000		103,181,000	98,134,000	83,137,000	15,006,000	15,708,000	13,527,000	14,351,000	5,795,000	13,120,000	3,010,000	2,559,000	2,743,000	3,038,000	1,025,000	2,421,000	8,578,000	5,942,000	3,446,000	1,970,000	3,989,000	2,116,000
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
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								131,748,000	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	17,353,000	11,676,000		19,121,000	17,095,000		17,180,000	14,751,000	14,589,000	14,699,000	13,218,000	-3,018,000	9,847,000	8,340,000	5,822,000	4,898,000	4,084,000	4,127,000	-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	490,037,000	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	510,964,000	478,004,000		416,598,000	379,930,000		284,904,000	243,277,000	210,149,000	191,133,000	178,197,000		97,986,000	66,172,000	46,670,000	18,699,000
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: 57,705,386 shares at june 30, 2024 and 57,123,437 shares at december 31, 2023; outstanding: 56,952,022 shares at june 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
short-term bank deposits																			10,122,000	13,562,000	43,626,000	60,096,000		3,432,000	8,085,000		5,769,000		6,057,000	6,001,000	7,779,000
restricted bank deposits																			1,064,000	2,504,000	2,509,000	2,611,000		2,135,000	27,515,000		1,600,000	1,060,000
current maturities of bank loans and accrued interest																			141,000	139,000	16,215,000	16,894,000		15,256,000	15,048,000		16,912,000	16,454,000	17,233,000
deferred tax liabilities																			405,000			8,593,000		1,112,000	2,202,000		7,762,000	8,663,000	8,544,000	1,499,000
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
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2021 and december 31, 2020; issued and outstanding: 51,966,175 and 51,560,936 shares as of march 31, 2021 and december 31, 2020, respectively																					5,000
consolidated balance sheets
u.s. dollars in thousands
common stock of 0.0001 par value – authorized: 125,000,000 shares as of december 31, 2020, and 2019; issued: 51,560,936 and 49,081,457 shares as of december 31, 2020, and 2019, respectively; outstanding: 51,560,936 and 48,898,062 shares as of december 31, 2020 and 2019, respectively.																						5,000
cash flows from operating activities:
net income																							122,667,000			144,957,000						70,254,000							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																							16,376,000			17,261,000
amortization of intangible assets																							7,081,000			9,634,000													84,000	63,000	42,000	21,000
amortization of debt discount and debt issuance costs																							168,000
amortization of premium and accretion of discount on available-for-sale marketable securities																							602,000			92,000
stock-based compensation expenses																							42,993,000			60,353,000
deferred income tax benefit																							-5,263,000			-6,037,000
other adjustments																							224,000
changes in assets and liabilities:
prepaid expenses and other assets																							37,871,000			-67,323,000		50,642,000
trade receivables																							118,044,000			-124,071,000	292,232,000	237,804,000	187,496,000	173,579,000	151,088,000	-9,203,000	127,479,000	109,528,000	91,694,000	79,851,000	79,268,000	84,898,000	-37,271,000	-20,681,000	-11,268,000	-11,928,000	-16,333,000	-25,993,000
operating lease right-of-use assets and liabilities, net and effect of exchange rate differences																							-459,000			2,192,000
other liabilities																							10,619,000			38,158,000
net cash from operating activities																							195,429,000			259,000,000						107,870,000							52,427,000	34,392,000	19,050,000	5,946,000	12,054,000	-3,635,000
cash flows from investing activities:
proceeds from sales and maturities of available-for-sale marketable securities																							116,419,000
purchase of property, plant and equipment																							-90,553,000			-72,562,000
investment in available-for-sale marketable securities																							-36,781,000			-160,054,000						-89,389,000							-118,511,000		-52,860,000
withdrawal from (investment in) restricted bank deposits																							25,538,000
business combination, net of cash acquired
withdrawal from (investment in) bank deposits																							-14,667,000			4,860,000
other investing activities																							743,000			-3,261,000
net cash from in investing activities																							699,000
cash flows from financing activities:
proceeds from issuance of convertible senior notes																							618,269,000
repayment of bank loans																							-15,194,000
proceeds from bank loans																							15,185,000
proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards																							19,205,000									7,591,000
change in non-controlling interests
other financing activities																							-152,000
net cash from financing activities																							637,313,000									7,591,000							2,779,000	2,639,000	1,472,000	17,000	136,953,000	139,457,000
increase in cash and cash equivalents																							833,441,000																-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																							223,901,000																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																							-9,233,000																-87,000				-74,000
cash and cash equivalents at the end of the period																							1,048,109,000																74,032,000	84,070,000	106,150,000	146,729,000	144,750,000	135,204,000
supplemental disclosure of non-cash activities:
operating lease, right of use asset																							796,000
liabilities and stockholders' equity
bank loans																											4,055,000	5,519,000	7,029,000	3,510,000
common stock of 0.0001 par value – authorized: 125,000,000 shares as of june 30, 2020 and december 31, 2019; issued: 50,075,751 and 49,081,457 shares as of june 30, 2020 and december 31, 2019, respectively; outstanding: 50,075,751 and 48,898,062 shares as of june 30, 2020 and december 31, 2019, respectively.																								5,000
common stock of 0.0001 par value – authorized: 125,000,000 shares as of march 31, 2020 and december 31, 2019; issued: 49,599,493 and 49,081,457 shares as of march 31, 2020 and december 31, 2019, respectively; outstanding: 49,599,493 and 48,898,062 shares as of march 31, 2020 and december 31, 2019, respectively.																									5,000
income from sale of business																										5,269,000
other incomes (income)																										713,000
business combinations, net of cash acquired																										-38,435,000
investment in restricted bank deposits																										-26,145,000
proceed from sales and maturities of available-for-sale marketable securities																										142,744,000
net cash from investing activities																										-152,853,000						-63,949,000							-125,837,000	-97,510,000	-59,037,000	-3,968,000	-13,937,000	-10,251,000
consolidated statements of cash flows
intangible assets, net and goodwill																											200,795,000	211,340,000	211,420,000
other long term assets																											7,667,000	8,455,000
other long term liabilities																											16,662,000	18,062,000
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	674,071,000	626,319,000	562,408,000
non-controlling interests																											5,176,000	5,977,000	71,198,000	8,318,000
short-term bank deposit																												5,961,000
total long term assets																												491,150,000	459,391,000	286,359,000	196,525,000		160,349,000	164,619,000	124,619,000	127,483,000	87,504,000
accrued expenses and other liabilities																												71,447,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of june 30, 2019 (unaudited) and december 31, 2018; issued and outstanding: 47,967,425 and 46,052,802 shares as of june 30, 2019 (unaudited) and december 31, 2018, respectively																												5,000
other non-current assets																													12,303,000	4,697,000	1,108,000
other non-current liabilities																													23,417,000	9,391,000	7,343,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2019 (unaudited) and december 31, 2018; issued and outstanding: 47,501,363 and 46,052,802 shares as of march 31, 2019 (unaudited) and december 31, 2018, respectively																													5,000
property, plant and equipment																														119,329,000
current maturities of bank loans																														16,639,000
share capital
common stock of 0.0001 par value - authorized 125,000,000 shares as of december 31, 2018, 2017, and, 2016; issued and outstanding: 46,052,802, 43,812,601, 41,259,391 shares as of december 31, 2018, 2017 and 2016, respectively.																														5,000
property and equipment																															73,415,000							30,377,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2018 (unaudited) and december 31, 2017; issued and outstanding: 45,750,400 and 43,812,601 shares as of september 30, 2018 (unaudited) and december 31, 2017, respectively																															5,000
depreciation and amortization of property, equipment and intangible assets																																5,053,000
amortization of premiums on available-for-sale marketable securities																																1,014,000							532,000	209,000	35,000
stock-based compensation																																13,977,000							9,089,000
loss on disposals of fixed assets																																64,000
prepaid expenses and other accounts receivable																																-2,135,000	33,156,000	42,223,000	38,201,000	34,109,000	26,561,000	17,276,000	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	26,170,000		16,407,000	12,842,000	9,189,000	8,719,000	3,934,000	497,000	-273,000	1,467,000	2,530,000	43,601,000
lease incentive obligation																																-148,000	1,690,000	1,765,000	1,838,000	1,913,000	1,987,000	2,135,000	-88,000	-120,000	-65,000	-11,000	2,669,000	2,243,000
cash flows used in investing activities:
purchase of property and equipment																																-21,385,000							-15,690,000	-11,545,000	-5,636,000	-3,292,000	-11,765,000	-8,254,000
maturities of available-for-sale marketable securities																																46,825,000							6,350,000	1,000,000
net increase in cash, cash equivalents and restricted cash																																51,512,000
cash, cash equivalents and restricted cash at the beginning of the period																																164,679,000
effect of exchange rate differences on cash, cash equivalents and restricted cash																																398,000
cash, cash equivalents and restricted cash at the end of the period																																216,589,000
property, equipment and intangible assets																																	61,161,000	52,297,000	45,714,000	41,991,000	37,933,000
prepaid expenses and lease deposits																																	787,000	862,000	732,000	640,000	594,000	437,000
non-current tax liabilities																																	17,595,000	16,840,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2018 (unaudited) and december 31, 2017; issued and outstanding: 44,897,108 and 43,812,601 shares as of march 31, 2018 (unaudited) and december 31, 2017, respectively																																	4,000
accrued expenses and other accounts payables																																		20,378,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of december 31, 2017, 2016, and june 30, 2016; issued and outstanding: 43,812,601, 41,259,391, 40,889,922 shares as of december 31, 2017 , 2016 and june 30, 2016, respectively.																																		4,000
stockholders' equity:
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2017 (unaudited) and december 31, 2016; issued and outstanding: 42,862,712 and 41,259,391 shares as of september 30, 2017 (unaudited) and december 31, 2016, respectively																																			4,000
total stockholders' equity																																			369,453,000
total liabilities and stockholders' equity																																			549,206,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of june 30, 2017 (unaudited) and december 31, 2016; issued and outstanding: 42,022,735 and 41,259,391 shares as of june 30, 2017 (unaudited) and december 31, 2016, respectively																																				4,000
common stock of 0.0001 par value - authorized: 125,000,000 shares as of march 31, 2017 (unaudited) and december 31, 2016; issued and outstanding: 41,532,545 and 41,259,391 shares as of march 31, 2017 (unaudited) and december 31, 2016, respectively																																					4,000
current assets
long-term liabilities
common stock of 0.0001 par value - authorized: 125,000,000 shares as of september 30, 2016 (unaudited) and june 30, 2016; issued and outstanding: 41,056,801 and 40,889,922 shares as of september 30, 2016 (unaudited) and june 30, 2016, respectively.																																						4,000
depreciation																																							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
remeasurement of warrants to purchase convertible preferred stock																																											5,350,000
capital income from disposal of property																																											104,000
interest expenses related to short term bank loan
purchase of intangible assets																																							-800,000	-800,000	-800,000	-800,000
decrease (increase) in restricted cash																																							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 d-2 convertible preferred stock
proceeds from issuance of series d-3 convertible preferred stock
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
issuance costs related to initial public offering																																							-194,000
proceeds from issuance of shares under stock purchase plan and upon exercise of options																																							2,973,000
supplemental disclosure of non-cash financing activities:
deferred issuance costs related to initial public offering																																											194,000
cashless exercise of warrants to purchase common stock
supplemental disclosure of cash flow information:
cash paid for interest																																											896,000
cash paid for income taxes																																							1,178,000				4,040,000
stock-based compensation related to employees and non-employees consultants stock options																																								6,689,000	4,057,000
financial income, net related to term loan
remeasurement of warrants to purchase preferred and common stock																																												2,065,000
decrease (increase) in short and long-term lease deposits																																								23,000	37,000
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
realized losses on cash flow hedges																																										1,000
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

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	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

cash flows from operating activities:
net loss	-57,366,000		-50,060,000	-124,744,000	-98,523,000
adjustments to reconcile net loss to net cash from operating activities:
depreciation and amortization	5,941,000	7,081,000	7,203,000	4,226,000	12,001,000	12,650,000	16,785,000	15,442,000	14,988,000	15,177,000	15,294,000	13,261,000	13,464,000
stock-based compensation expenses	19,852,000	19,973,000	21,885,000	19,261,000	31,426,000	24,433,000	36,641,000	38,571,000	37,606,000	34,930,000	36,815,000	38,965,000	39,235,000	38,607,000	35,751,000	37,074,000	34,107,000	29,203,000	26,185,000	24,052,000	23,153,000	24,316,000	16,259,000	13,961,000	12,773,000
loss from business disposition	7,600,000	0	0
loss (gain) from exchange rate fluctuations	659,000
other items	-939,000	2,274,000	33,000	-3,712,000	2,271,000	-2,269,000	6,959,000	-1,031,000	4,371,000	1,249,000	2,132,000	1,973,000	2,810,000
changes in assets and liabilities:
trade receivables	43,559,000	18,536,000	-69,773,000	-83,933,000	29,247,000	72,493,000	61,640,000	107,198,000	210,376,000	336,440,000	195,075,000	-180,084,000	-55,002,000	-80,521,000	-141,773,000	-10,451,000	-224,865,000	-41,592,000	-77,567,000	-71,184,000	-57,380,000	-31,506,000	1,999,000	56,625,000	59,420,000	-9,499,000	-58,010,000	-49,183,000	-7,379,000	-18,096,000	-33,215,000	8,732,000	-17,935,000	-17,971,000	-11,769,000	-329,000	-8,070,000	-12,102,000	-16,590,000	-9,413,000	660,000	-11,928,000	9,660,000
inventories	-38,339,000	-20,645,000	-7,250,000	112,840,000	12,285,000	51,941,000	74,622,000	47,046,000	-105,810,000	-253,053,000	-191,608,000	-104,672,000	-141,521,000	-152,506,000	-95,231,000	-42,025,000	-51,323,000	-73,729,000	17,449,000	21,605,000	-8,376,000	-27,662,000	-27,769,000	-65,226,000	-29,004,000	-38,290,000	14,023,000	759,000	964,000	-2,058,000	832,000	-3,604,000	-15,348,000	-20,695,000	-6,148,000	4,700,000	6,453,000	13,120,000	4,090,000	2,006,000	-7,496,000	-5,956,000	-9,436,000
prepaid expenses and other assets	-88,163,000	48,400,000	-2,351,000	-39,355,000	100,361,000	-84,261,000	-40,709,000	-39,678,000	42,164,000	-111,345,000	53,107,000	-12,694,000	-20,591,000	-9,513,000	23,737,000	-62,052,000	-17,163,000	-24,467,000	5,379,000	-40,574,000	20,218,000	-41,147,000	805,000	-12,822,000	49,888,000	-47,528,000	-17,221,000	-13,459,000	10,885,000	2,089,000
operating lease right-of-use assets	3,288,000	3,157,000	3,032,000	1,494,000	3,659,000	3,519,000
trade payables	132,556,000	-11,098,000	104,689,000	40,942,000	30,275,000	-1,250,000	-38,643,000	-35,163,000	-210,449,000	-13,799,000	-31,692,000	28,106,000	-50,410,000	140,841,000	61,022,000	20,706,000	-28,045,000	114,668,000	-2,839,000	18,914,000	-39,034,000	38,832,000	-33,676,000	15,766,000	-17,589,000	26,536,000	15,808,000	27,213,000	-21,720,000	17,476,000	1,863,000	-1,452,000	13,595,000	26,788,000	6,660,000	-7,727,000	9,734,000	-8,200,000	3,354,000	-16,853,000	-5,201,000	-13,500,000	42,375,000
employees and payroll accruals	9,625,000								-2,460,000	9,320,000	3,816,000	-1,944,000	10,227,000	14,119,000	6,917,000	-4,044,000	9,246,000	12,198,000	4,587,000	2,257,000	7,477,000	15,183,000	1,675,000	-10,364,000	11,821,000	3,263,000	10,178,000	1,901,000	3,250,000	3,383,000	172,000	-6,125,000	7,153,000	4,885,000	3,303,000	2,478,000	-1,272,000	1,879,000	-2,239,000	-556,000	5,029,000	1,044,000	785,000
warranty obligations	-36,064,000	-34,785,000	-2,707,000	-14,864,000	-19,745,000	-46,247,000	-12,116,000	-11,596,000	-15,582,000	2,227,000	27,339,000	45,660,000	57,864,000	38,144,000	22,437,000	31,959,000	27,629,000	18,156,000	15,070,000	14,210,000	13,088,000	9,119,000	2,957,000	6,389,000	13,809,000	1,147,000	20,773,000	13,913,000	14,947,000	13,031,000	10,368,000	9,095,000	9,384,000	7,244,000	6,227,000	4,215,000	2,750,000	5,216,000	4,533,000	5,765,000	4,990,000	4,025,000	3,980,000
deferred revenues and customers advances	-11,168,000	40,816,000	37,182,000	-31,809,000	-51,970,000	118,266,000	5,281,000	-3,505,000	-523,000	21,052,000	1,358,000	7,897,000	9,325,000	2,936,000	9,163,000	17,248,000	15,029,000	16,213,000	9,199,000	909,000	3,615,000	2,845,000	7,551,000	-105,000	-31,729,000
operating lease liabilities	-3,805,000	-3,309,000	-3,245,000	-3,235,000	-3,571,000	-3,948,000	-839,000	-5,823,000	-5,219,000
accrued expenses and other liabilities	37,192,000	27,055,000	-32,310,000	54,181,000	-9,934,000	58,973,000	32,212,000	-12,261,000	-377,000	-6,935,000	-14,356,000	-38,210,000	28,515,000
net cash from operating activities	24,428,000	52,629,000	25,608,000	-7,799,000	33,823,000	12,337,000	-63,865,000	-44,772,000	-217,019,000	-139,910,000	40,585,000	-88,711,000	7,923,000	111,300,000	5,558,000	77,415,000	-162,989,000	89,577,000	61,784,000	38,685,000	24,083,000	27,226,000	28,374,000	59,310,000	107,745,000	83,066,000	68,700,000	50,784,000	56,450,000	46,874,000	34,335,000	43,891,000	63,979,000	45,775,000	33,599,000	31,625,000	25,666,000	24,369,000	18,035,000	15,342,000	13,104,000	5,946,000	15,689,000
capital expenditures	-3,701,000	-9,293,000	-2,809,000	-1,256,000	-10,109,000	-12,258,000	-47,370,000	-22,188,000	-26,347,000	-40,499,000	-45,949,000	-45,737,000	-38,338,000	-44,256,000	-33,201,000	-48,674,000	-43,210,000	-55,116,000	-28,868,000	-40,722,000	-24,545,000	-36,237,000	-36,847,000	-26,653,000	-27,053,000	-32,883,000	-17,435,000	-11,624,000	-10,620,000	0	-8,666,000	-10,060,000	-11,325,000	-8,179,000	-5,592,000	-5,739,000	-1,872,000	-3,815,000	-4,145,000	-5,909,000	-2,344,000	-3,292,000	-3,511,000
free cash flows	20,727,000	43,336,000	22,799,000	-9,055,000	23,714,000	79,000	-111,235,000	-66,960,000	-243,366,000	-180,409,000	-5,364,000	-134,448,000	-30,415,000	67,044,000	-27,643,000	28,741,000	-206,199,000	34,461,000	32,916,000	-2,037,000	-462,000	-9,011,000	-8,473,000	32,657,000	80,692,000	50,183,000	51,265,000	39,160,000	45,830,000	46,874,000	25,669,000	33,831,000	52,654,000	37,596,000	28,007,000	25,886,000	23,794,000	20,554,000	13,890,000	9,433,000	10,760,000	2,654,000	12,178,000
cash flows from investing activities:
investment in available-for-sale marketable securities		-16,523,000	-281,862,000	-100,308,000	-72,465,000	-52,512,000	-45,585,000	-26,113,000	-129,221,000	-81,880,000	-90,378,000	-85,159,000	-38,979,000	-45,680,000	-99,372,000	-335,407,000	-26,712,000	-67,762,000	-89,145,000	-235,942,000	-186,528,000	-186,924,000	34,000	-4,891,000	-31,924,000	-56,343,000	-40,056,000	-48,339,000	-15,316,000	523,000	-53,761,000	-63,953,000	-25,436,000	-61,206,000	-8,363,000	-50,036,000	-24,070,000	-19,928,000
proceeds from maturities of available-for-sale marketable securities	8,811,000	30,547,000	390,187,000	149,748,000	142,931,000	86,588,000	152,139,000
purchase of property, plant and equipment	-3,701,000	-9,293,000	-2,809,000	-1,256,000	-10,109,000	-12,258,000	-47,370,000	-22,188,000	-26,347,000	-40,499,000	-45,949,000	-45,737,000	-38,338,000	-44,256,000	-33,201,000	-48,674,000	-43,210,000	-55,116,000	-28,868,000	-40,722,000	-24,545,000	-36,237,000	-36,847,000	-26,653,000	-27,053,000	-32,883,000	-17,435,000	-11,624,000	-10,620,000
business dispositions, net of cash sold	-2,631,000	0	0
repayment related to governmental grant		0	0	0	-6,643,000
withdrawal from restricted bank deposits	2,700,000
payments made before lease commencement	-26,162,000
proceeds from loan receivables	56,000		23,268,000	13,822,000	13,653,000				1,625,000
other investing activities	487,000	-6,088,000	2,960,000	-258,000	230,000	-437,000	-3,530,000	-417,000	-323,000	-211,000	-359,000	112,000	3,440,000	666,000	1,689,000	91,000	1,692,000	-4,569,000	1,105,000	871,000	571,000	761,000	-1,281,000
net cash from investing activities	-20,440,000	8,101,000	235,594,000	68,590,000	67,597,000	97,531,000	75,531,000	94,216,000	149,008,000	-80,707,000	-43,733,000	-76,674,000	-67,780,000	-36,530,000	-54,581,000	-310,799,000	-15,134,000	-86,252,000	-61,961,000	-182,416,000	-153,582,000				-19,924,000	-94,456,000	-6,176,000	-31,489,000	-20,732,000	-32,057,000	-56,622,000	-61,688,000	-2,261,000	-35,685,000	649,000	-39,934,000	-10,437,000	-8,486,000	-28,327,000	-38,473,000	-55,069,000	-3,968,000	-3,686,000
cash flows from financing activities:
repurchase of convertible debt		0	0	0	-5,093,000
issuance of common stock upon exercise of stock-based awards	3,850,000
tax withholding in connection with stock-based awards	-1,487,000					311,000	-667,000	545,000	-470,000	8,000	-456,000	-4,270,000	-4,541,000	7,709,000	-2,368,000
other financing activities	-375,000	-2,018,000	-677,000	-373,000	-1,144,000	-688,000	-699,000	-722,000	-517,000	141,000	-13,000	854,000	-756,000	-725,000	-665,000	-953,000	-491,000	-369,000	-314,000	-313,000	-312,000		-40,000	-56,000	-56,000
net cash from (used in) financing activities	1,988,000
effect of exchange rate changes on cash, cash equivalents and restricted cash	-1,146,000	163,000	-3,785,000	6,265,000	701,000
increase in cash, cash equivalents and restricted cash including cash classified within current held-for-sale assets	4,830,000
change in cash classified within current held-for-sale assets	8,690,000
increase in cash, cash equivalents and restricted cash	13,520,000		-85,510,000	66,683,000	95,884,000																				91,136,000				33,088,000
cash, cash equivalents and restricted cash, beginning of period	539,846,000	0	0	0	409,939,000
cash, cash equivalents and restricted cash, end of period	553,366,000	52,850,000	-85,510,000	66,683,000	505,823,000
supplemental disclosure of non-cash activities:
right-of-use asset recognized with a corresponding lease liability	5,258,000				10,881,000		633,000	420,000	1,085,000		5,595,000	805,000	11,258,000
net income						-312,907,000	-1,205,321,000	-130,818,000	-157,311,000	-162,383,000	-61,176,000	119,510,000	138,378,000	20,829,000	24,743,000	15,084,000	33,123,000	40,954,000	53,048,000	45,092,000	30,076,000	17,655,000	43,751,000	36,668,000	42,248,000	52,345,000	41,724,000	32,913,000	17,975,000	12,149,000	45,643,000	34,568,000	35,686,000	19,502,000	27,971,000	22,524,000	14,175,000	15,616,000	17,273,000	20,799,000	24,105,000	14,432,000	9,261,000
adjustments to reconcile net income to net cash from operating activities:
provision to write down inventories to net realizable value		5,294,000				99,791,000
impairment of asset held-for-sale		6,469,000	-2,062,000
loss on impairment and disposal of property, plant and equipment		3,134,000				18,152,000
impairment of goodwill and intangible assets						-51,000								114,484,000	0
impairment of privately-held companies		6,530,000
deferred income taxes		215,000	-196,000	249,000	-1,029,000	-622,000	130,674,000	-8,996,000	-41,847,000	-24,872,000	-10,563,000	-3,706,000	-3,930,000	-7,233,000	-2,730,000	-58,000	-1,034,000	-5,359,000	-2,755,000	-1,790,000	-2,141,000
gain from repurchasing of convertible notes						-1,000	0
loss from exchange rate fluctuations		-280,000	1,358,000	4,446,000	-2,930,000	3,675,000	-2,256,000	2,700,000	7,799,000		15,044,000	-2,773,000	-20,441,000
loss from sale of property, plant and equipment		7,017,000
cumulative translation adjustment, including intra-entity transactions that are of a long-term investment reclassified from other comprehensive income
proceeds from sales of available-for-sale marketable securities		0				43,922,000	18,724,000
proceeds from sale of investment in privately-held company		0	0
business combinations, net of cash acquired						0	1,245,000			0	0
proceeds from sale of property, plant and equipment		-384,000	27,712,000
advance related to held-for-sale asset
purchase of intangible assets						0	0			0	-600,000																												0	0	0	-800,000
disbursements for loans receivables						0	0	-30,000,000	-7,500,000	-45,000,000
investment in privately-held companies		0	-150,000			78,000	-92,000	-16,819,000	-8,831,000	0	-1,250,000
proceeds from loans receivables
proceeds from governmental grant										-2,000	-1,000
repurchase of common stock						121,000	-300,000	-16,793,000	-33,222,000
proceeds from issuance of notes 2029, net of issuance costs						0	35,589,000
capped call transactions related to notes 2029						0	-3,112,000
repayment of convertible notes at maturity
net cash from financing activities		647,000	-342,927,000	-373,000	-6,237,000	-256,000	30,811,000	303,000	-50,987,000	-651,000	-1,164,000	-4,919,000	-5,222,000		-1,271,000	-3,929,000	652,335,000	4,254,000	1,774,000	-19,144,000	-2,062,000		628,317,000	5,681,000	3,315,000		-922,000	-64,755,000	-2,630,000	-15,870,000	324,000	2,986,000	4,605,000	3,445,000	1,672,000	1,752,000	371,000	273,000	140,000	1,167,000	1,455,000	17,000	-2,504,000
less: change in cash classified within current held-for-sale assets
increase in cash, cash equivalents, and restricted cash
purchase of intangible assets and business combinations										0	62,000
issuance of common stock under employee stock purchase plan
right-of-use asset recognized with corresponding lease liability including changes in lease liabilities from lease modifications and terminations
supplemental disclosure of cash flow information:
cash paid for income taxes
cash paid for interest on convertible debt and bank loans
payment for settlement of convertible notes
payments on account of repurchase of common stock									-16,778,000
partial repurchase of notes 2025						0	0
proceeds from secondary public offering, net of issuance costs														0	0	0	650,526,000
cash and cash equivalents at the beginning of the period						0	0	0	338,468,000	0	0	0	783,112,000	0	0	0	530,089,000	0	0	0	827,146,000		0											0	0	0	104,683,000	74,032,000	0	0	0	144,750,000	0
right-of-use asset recognized with corresponding lease liability																6,928,000	27,248,000
effect of exchange rate differences on cash and cash equivalents							1,929,000	-4,478,000	-5,241,000	8,614,000	-2,310,000	199,000	9,816,000	22,541,000	-16,911,000	-19,925,000	-1,529,000	-4,078,000	879,000	1,830,000	-10,428,000		-10,777,000											180,000	76,000	76,000	-350,000	-174,000
decrease in cash and cash equivalents							44,406,000	45,269,000	-124,239,000
cash and cash equivalents at the end of the period							44,406,000	45,269,000	214,229,000	-212,654,000	-6,622,000	-170,105,000	727,849,000	104,783,000	-67,205,000	-257,238,000	1,002,772,000	3,501,000	2,476,000	-161,045,000	685,157,000		619,737,000											13,715,000	35,996,000	-6,481,000	119,933,000	90,014,000	-10,038,000	-22,080,000	-40,579,000	146,729,000	9,546,000
right-of-use assets								6,137,000	5,255,000
proceeds from sales and maturities of available-for-sale marketable securities									319,605,000	85,572,000									71,054,000				26,680,000	47,406,000	42,333,000		51,163,000	23,832,000	44,575,000
impairment of goodwill and long-lived assets
proceeds from sale of a privately-held company														187,000
withdrawal from bank deposits
payments of finance lease liability										-671,000
repayment of bank loans														-34,000				146,000	166,000	-16,351,000	-34,000		-75,000	113,000	-15,232,000		-467,000
increase (decrease) in cash and cash equivalents																	474,212,000
increase in cash and cash equivalents											-4,312,000	-170,304,000	-65,079,000	82,242,000	-50,294,000			7,579,000	1,597,000	-162,875,000	-131,561,000		630,514,000											13,535,000	35,920,000	-6,557,000	15,600,000	16,156,000	-10,152,000	-21,964,000	-40,510,000	1,995,000	9,499,000
proceed from sales and maturities of available-for-sale marketable securities												75,216,000	11,597,000	52,795,000	52,128,000	73,191,000	53,096,000
payment of finance lease liability
investment in a privately-held company													-5,500,000
proceeds from exercise of stock-based awards													75,000		1,866,000	164,000	1,478,000
depreciation of property, plant and equipment														11,009,000	10,710,000	9,859,000	9,002,000	7,867,000	7,484,000	7,121,000	6,887,000	5,979,000	5,730,000	5,642,000	5,004,000	4,729,000	4,385,000	4,277,000	3,870,000
amortization of intangible assets														1,355,000	2,464,000	2,619,000	2,658,000	2,689,000	2,616,000	2,480,000	2,391,000	2,398,000	2,466,000	2,294,000	2,321,000	2,120,000	2,619,000	2,924,000	1,971,000	789,000								21,000	21,000	21,000	21,000	21,000
amortization of debt discount and debt issuance costs														730,000	730,000	728,000	728,000	728,000	725,000	726,000	724,000	3,017,000
amortization of premium and accretion of discount on available-for-sale marketable securities														1,446,000	2,488,000	2,826,000	2,550,000	3,161,000	2,743,000	2,263,000	1,295,000	566,000	229,000	253,000	120,000			47,000	-59,000
gain from sale of privately held company														-186,000
exchange rate fluctuations and other items														-54,610,000	39,996,000	21,642,000	3,024,000	7,611,000	103,000	-320,000	13,303,000
withdrawal from (investment in) bank deposits																		10,076,000			16,470,000	-40,085,000			-3,316,000	759,000
withdrawal from (investment in) restricted bank deposits																						-271,000	-96,000	25,598,000	36,000
proceeds from exercise of stock-based award
proceeds from issuance of convertible senior notes
proceeds from bank loans																							72,000	-182,000	15,295,000
loss from sale and disposal of assets															-781,000
other liabilities															13,448,000	31,586,000	22,755,000	-16,711,000	395,000	13,020,000	6,640,000	1,011,000	4,851,000	13,234,000	-7,466,000	-1,403,000	11,325,000	7,965,000	20,271,000
payment for asset acquisition, net of cash acquired
loss (gain) from sale and disposal of assets																	-410,000
proceeds (withholdings) from stock-based awards																	822,000
investment in privately-held company
proceeds from exercise of stock-based awards and payment of withholding taxes																		4,477,000	1,922,000
change in non-controlling interests																											-615,000	-64,487,000	-1,987,000
issuance of common stock upon business combination
cash paid for interest on bank loans
loss from disposal of assets																			-38,000	-96,000	2,147,000
investment in privately held company
proceed from maturities of available-for-sale marketable securities																					40,450,000
proceeds from exercise of stock-based awards net of tax withholding																					-1,716,000
income from sale of business
operating lease right-of-use assets and liabilities, net and effect of exchange rate differences																						1,868,000	-8,000	796,000	-1,247,000	54,000	672,000	638,000	828,000
proceed from sales and maturities of available-for- sale marketable securities
consolidated statements of cash flows
u.s. dollars in thousands
deferred income tax benefit																							1,161,000	-3,565,000	-2,859,000
other adjustments																							225,000
business combination, net of cash acquired																											0	880,000	-39,315,000
net cash from in investing activities																							-26,177,000
proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards																							10,091,000	5,806,000	3,308,000		1,176,000	3,455,000	309,000	2,106,000	324,000
operating lease, right of use asset																							-184,000	-1,178,000	2,158,000				32,531,000
other incomes																									235,000
cash, cash equivalents and restricted cash at the beginning of the period																									223,901,000		0	-5,497,000	193,261,000	0	0	0	164,679,000
effect of exchange rate differences on cash, cash equivalents and restricted cash																									9,035,000		9,165,000	-757,000	1,940,000	-645,000	333,000	415,000	-17,000
cash, cash equivalents and restricted cash at the end of the period																									324,072,000		70,767,000	-51,714,000	228,289,000	-1,698,000	-21,630,000	-14,396,000	230,985,000
other incomes (income)
deferred revenues																										63,621,000	7,752,000	10,034,000	1,730,000	15,465,000	8,456,000	6,139,000	6,981,000	4,407,000	2,764,000	4,875,000	2,060,000	-63,000	2,636,000	2,496,000	1,476,000	1,970,000	1,873,000
investment in restricted bank deposits																										-25,902,000	-40,000
stock-based compensation																											17,609,000	11,372,000	9,704,000	8,691,000	7,950,000	7,128,000	6,849,000	5,381,000	4,537,000	4,034,000	3,612,000	3,100,000
income from disposal of assets																											14,000
realized gain from cash flow hedge																														-22,000
realized income from sale of available-for-sale marketable securities																											0	-29,000	120,000
deferred tax assets and liabilities																											-2,963,000	-987,000	-973,000
proceeds from borrowing loans
purchase of land and building under finance lease
increase in cash and cash equivalents and restricted cash																											61,602,000
operating lease, right of use assets																											-2,200,000
capital income from disposal of equipment																													66,000
investment in short term bank deposits																													-56,000	1,778,000
proceeds from bank loans borrowing																													51,000
payments of bank loans																													-1,003,000
repayment of bank loan
issuance costs related to initial public offering
purchase of non-controlling interests
supplemental disclosure of non-cash investing activities:
net change in accrued expenses and other accounts payable related to property and equipment additions
cash paid for taxes
depreciation of property and equipment
amortization of premiums on available-for-sale marketable securities																															228,000	236,000	778,000		519,000	408,000	383,000	332,000	323,000	174,000
deferred tax assets																															-1,771,000	-1,697,000	-1,321,000	-2,392,000	-958,000	-772,000	-1,333,000	2,180,000	247,000	-100,000
loss on disposals of fixed assets																															0	0	64,000
cash flows used in investing activities:
purchase of property and equipment																															-8,666,000	-10,060,000	-11,325,000	-8,179,000	-5,592,000	-5,739,000	-1,872,000	-3,815,000	-4,145,000	-5,909,000	-2,344,000	-3,292,000	-3,511,000
acquisitions and purchases of assets
maturities of available-for-sale marketable securities																															24,807,000	12,325,000	34,500,000	33,756,000	14,839,000	16,009,000	15,665,000	15,304,000	5,350,000
net increase in cash, cash equivalents and restricted cash																															-21,963,000	-14,811,000	66,323,000
depreciation and amortization of property, equipment and intangible assets																																2,623,000	2,430,000	2,223,000	1,802,000	1,610,000	1,520,000
prepaid expenses and other accounts receivable																																-11,345,000	9,210,000	-4,577,000	-4,813,000	-7,964,000	-4,583,000	4,176,000	-2,644,000	6,682,000	-5,307,000	11,811,000	-7,365,000
accrued expenses and other accounts payable																																-333,000	6,527,000		3,579,000	3,647,000	311,000	-2,015,000	3,437,000	770,000	-1,740,000	1,467,000	-41,071,000
lease incentive obligation																																-74,000	-74,000	-73,000	-75,000	-74,000	-74,000	-162,000	32,000	-55,000	-54,000	-11,000	426,000
increase in short and long-term lease deposits																																					-66,000
proceeds from issuance of shares upon exercise of options																																	4,605,000		1,672,000	1,752,000	371,000	273,000
financial income, net related to term loan
remeasurement of warrants to purchase convertible preferred stock
capital loss from disposal of property
accrued expenses, other accounts payable and non-current tax liabilities
decrease in restricted cash																																		-116,000								51,000
decrease in long-term lease deposit
proceeds from short term bank loan
repayment of short term bank loan
repayments of term loan
proceeds from issuance of series e convertible preferred stock																																											0
proceeds from initial public offering																																											-2,542,000
supplemental disclosure of non-cash investing and financing activities:
deferred issuance costs related to initial public offering
cashless exercise of warrants to purchase common stock
cash paid for interest
realized losses on cash flow hedges																																										1,000
decrease in short and long-term lease deposits																																										73,000
decrease (increase) in restricted cash																																				-106,000	-94,000	-18,000	16,000	2,473,000
decrease (increase) in short and long-term lease deposits																																						-29,000		-14,000
depreciation																																						1,271,000	1,162,000	972,000	891,000	738,000	606,000
financial expenses (income), net related to term loan																																											0
capital income from disposal of property
interest expenses related to short term bank loan
decrease (increase) in long-term lease deposit
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
supplemental disclosure of non-cash financing activities:
stock-based compensation related to employees and non-employees consultants stock options																																								2,632,000
remeasurement of warrants to purchase preferred and common stock
purchases of available-for-sale marketable securities
proceeds from short-term bank loans
repayments of short term loan
proceeds from issuance of stock
proceeds from ipo
proceeds from exercise of employees and non-employees consultants stock options
erosion due to exchange rate differences																																								-116,000	-69,000	-16,000
issuance expenses not paid in cash
realized gains on cash flow hedges
issuance costs
proceeds from exercise of employee stock options																																									1,455,000	17,000
deferred issuance costs related to ipo
purchase of property and equipment not paid in cash
stock-based compensation related to employee and non-employee consultants stock options																																										1,832,000
interest expenses related to bank loan
payments of term loan
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
increase in restricted cash																																											-65,000
increase in long-term lease deposit
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
cashless exersice of warrants to purchase common stock
cash flows used in operating activities:
decrease (increase) in long-term deposits
repayments of short-term bank loans
receipt on account of shares

SolarEdge(NASDAQ:SEDG)

SolarEdge
(NASDAQ:SEDG)