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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财年三季报
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报告了2024年第三季度净亏损达12亿，较2023年第三季度的6120万亏损有所增加，营收骤降64%至26090万。结果受到62790万的库存减记严重影响，这主要是由于需求放缓和渠道库存积压所致。毛利率出现负值，达到-269.2%，而一年前为19.7%。该公司面临来自欧洲分销商意外取消和推迟订单的重大阻力，这始于2023年第三季度，原因是渠道库存高和安装速度放缓。营业费用从去年的15950万增加至38290万，其中包括与物业、厂房、设备和无形资产相关的23390万减值费用。管理层已实施成本削减措施，包括在2024年初减少16%的员工。该公司保持了良好的流动性，现金为30390万，市场证券为43090万。2024年6月，SolarEdge通过2029年到期的可转换债券筹集了30000万，并利用所筹资金回购了28500万的现有2025年债券。
SolarEdge Technologies报告了2024年第三季度净亏损达12亿，较2023年第三季度的6120万亏损有所增加，营收骤降64%至26090万。结果受到62790万的库存减记严重影响，这主要是由于需求放缓和渠道库存积压所致。毛利率出现负值，达到-269.2%，而一年前为19.7%。该公司面临来自欧洲分销商意外取消和推迟订单的重大阻力，这始于2023年第三季度，原因是渠道库存高和安装速度放缓。营业费用从去年的15950万增加至38290万，其中包括与物业、厂房、设备和无形资产相关的23390万减值费用。管理层已实施成本削减措施，包括在2024年初减少16%的员工。该公司保持了良好的流动性，现金为30390万，市场证券为43090万。2024年6月，SolarEdge通过2029年到期的可转换债券筹集了30000万，并利用所筹资金回购了28500万的现有2025年债券。
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