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SolarEdge Technologies | 10-Q: Q3 2024 Earnings Report

SolarEdge Technologies | 10-Q: Q3 2024 Earnings Report

SolarEdge Technologies | 10-Q：2024財年三季報
美股SEC公告 ·  2024/11/08 02:38

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SolarEdge Technologies reported a significant Q3 2024 net loss of $1.2 billion, compared to a $61.2 million loss in Q3 2023, as revenue plunged 64% to $260.9 million. The results were heavily impacted by a $627.9 million inventory write-down due to slowing demand and channel inventory buildup. Gross margin turned negative at -269.2% versus 19.7% a year ago.The company faced substantial headwinds from unexpected order cancellations and pushouts from European distributors that began in Q3 2023, driven by high channel inventory and slower installation rates. Operating expenses increased to $382.9 million from $159.5 million last year, including $233.9 million in impairment charges related to property, plant, equipment and intangible assets.Management has implemented cost reduction measures, including a 16% workforce reduction in early 2024. The company maintains a solid liquidity position with $303.9 million in cash and $430.9 million in marketable securities. In June 2024, SolarEdge raised $300 million through convertible notes due 2029 and used proceeds to repurchase $285 million of existing 2025 notes.
SolarEdge Technologies reported a significant Q3 2024 net loss of $1.2 billion, compared to a $61.2 million loss in Q3 2023, as revenue plunged 64% to $260.9 million. The results were heavily impacted by a $627.9 million inventory write-down due to slowing demand and channel inventory buildup. Gross margin turned negative at -269.2% versus 19.7% a year ago.The company faced substantial headwinds from unexpected order cancellations and pushouts from European distributors that began in Q3 2023, driven by high channel inventory and slower installation rates. Operating expenses increased to $382.9 million from $159.5 million last year, including $233.9 million in impairment charges related to property, plant, equipment and intangible assets.Management has implemented cost reduction measures, including a 16% workforce reduction in early 2024. The company maintains a solid liquidity position with $303.9 million in cash and $430.9 million in marketable securities. In June 2024, SolarEdge raised $300 million through convertible notes due 2029 and used proceeds to repurchase $285 million of existing 2025 notes.
SolarEdge Technologies報告了2024年第三季度淨虧損達12億，較2023年第三季度的6120萬虧損有所增加，營收驟降64%至26090萬。結果受到62790萬的庫存減記嚴重影響，這主要是由於需求放緩和渠道庫存積壓所致。毛利率出現負值，達到-269.2%，而一年前爲19.7%。該公司面臨來自歐洲分銷商意外取消和推遲訂單的重大阻力，這始於2023年第三季度，原因是渠道庫存高和安裝速度放緩。營業費用從去年的15950萬增加至38290萬，其中包括與物業、廠房、設備和無形資產相關的23390萬減值費用。管理層已實施成本削減措施，包括在2024年初減少16%的員工。該公司保持了良好的流動性，現金爲30390萬，市場證券爲43090萬。2024年6月，SolarEdge通過2029年到期的可轉換債券籌集了30000萬，並利用所籌資金回購了28500萬的現有2025年債券。
SolarEdge Technologies報告了2024年第三季度淨虧損達12億，較2023年第三季度的6120萬虧損有所增加，營收驟降64%至26090萬。結果受到62790萬的庫存減記嚴重影響，這主要是由於需求放緩和渠道庫存積壓所致。毛利率出現負值，達到-269.2%，而一年前爲19.7%。該公司面臨來自歐洲分銷商意外取消和推遲訂單的重大阻力，這始於2023年第三季度，原因是渠道庫存高和安裝速度放緩。營業費用從去年的15950萬增加至38290萬，其中包括與物業、廠房、設備和無形資產相關的23390萬減值費用。管理層已實施成本削減措施，包括在2024年初減少16%的員工。該公司保持了良好的流動性，現金爲30390萬，市場證券爲43090萬。2024年6月，SolarEdge通過2029年到期的可轉換債券籌集了30000萬，並利用所籌資金回購了28500萬的現有2025年債券。
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