Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

SolarEdge Reports Record Revenue In Financial Earnings Report

Israeli-based solar inverter manufacturer SolarEdge revealed record revenue for the quarter ending June 30, up 13.9% on the previous quarter and 120.8% year-over-year.

SolarEdgeSolarEdge’s financial calendar reaches its conclusion on June 30, when many other companies around the world are only nearing the halfway mark, so SolarEdge’s financial report was for the fourth quarter and year ended June 30. The company revealed record quarterly revenue of $98.4 million, which is up 13.9% on the previous quarter, and 120.8% on Q4’14’s $44,573 million.

This helped push their year-ending revenue to record levels as well, reaching $325.1 million, a growth of 144% year-over-year.

284 MW worth of inverters were shipped for the fourth quarter, bringing the year’s total up to 920 MW. GAAP gross margin sat at 28.7% for the quarter and 25.2% for the fiscal year, with GAAP net income for Q4’15 of $13.8 million, and $29.4 million for the fiscal year.

“We completed fiscal 2015 with strong execution on all fronts,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “We successfully grew our business with our existing and new customers and generated record revenue for the fourth fiscal quarter and the entire fiscal year. Our increased manufacturing capacity coupled with continued cost reduction, brought gross margins to a quarterly and annual record. These revenue and cost reduction initiatives generated strong bottom line results; consecutive profits in each quarter of fiscal 2015 and strong cash flow from operations.”

SolarEdge’s operating expenses for the fiscal year 2015 came in at $53.5 million, up 32.7% on the previous year, with operating income of $28.3 million well exceeding the operating loss of $18.4 million in fiscal year 2014.

The company also provided financial outlook for the first fiscal quarter of 2016, with revenue expected to be within the range of $108 million and $112 million, and gross margins to be within 27% and 29%.

 
 
 
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Clean Power

Several new commercial developments in Romania will feature rooftop solar systems from TESLA 50Hz and SolarEdge.

Clean Power

Trade shows are often dull, with lots of technical detail at booths. And…that’s necessary, of course, but it’s always so nice to see tech-y...

Batteries

SolarEdge Technologies has announced that it has been chosen to supply the full electric powertrain units and batteries for the production of Fiat’s E-Ducato...

Batteries

Kokam Co., Ltd, a subsidiary of SolarEdge and a provider of lithium-ion batteries and integrated energy solutions, announced today the launch of a new advanced and...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.