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SolarEdge Announces Fourth Quarter and Full Year 2025 Financial Results image

Solar, Press Releases — 19 February, 2026

SolarEdge Announces Fourth Quarter and Full Year 2025 Financial Results

MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 18, 2026-- SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the fourth quarter and year ended December 31, 2025. “Our fourth quarter results delivered 70% year-over-year revenue growth, marking our fourth consecutive quarter of year-over-year revenue growth and fifth consecutive quarter of margin expansion,” said Shuki Nir, CEO of SolarEdge. “In 2025 we restored discipline, generated strong free cash flow, and rebuilt margins. In 2026 we are shifting decisively to offense, focused on moving toward profitable growth and capturing global market share through the rollout of the SolarEdge Nexis platform. By leveraging our DC expertise, investing in high-growth adjacencies like AI data center power, and maintaining our rigorous cost discipline, we believe we are positioning 2026 to be a transformational year for SolarEdge.” Fourth Quarter 2025 Summary The Company reported revenues of $335.4 million, down 1.4% from $340.2 million in the prior quarter. Non-GAAP revenues1 were $333.8 million, down 1.8% from $339.7 million the prior quarter. Fourth quarter revenue does not include significant one-time or pull forward of revenue from safe harbor nor from the 25D rush towards the end of the year. During the quarter approximately 98.8 thousand inverters, 2.87 million optimizers and 280 MWh of batteries for PV applications were recognized as revenue. GAAP gross margin was 22.2%, compared to 21.2% in the prior quarter. Non-GAAP gross margin1 was 23.3%, compared to 18.8% in the prior quarter. GAAP operating expenses were $122.8 million, compared to $107.3 million in the prior quarter. Non-GAAP operating expenses1 were $88.7 million, compared to $87.7 million in the prior quarter. GAAP operating loss was $48.3 million, compared to $35.2 million in the prior quarter. Non-GAAP operating loss1 was $11.0 million, compared to $23.8 million in the prior quarter. GAAP net loss was $132.1 million, compared to $50.1 million in the prior quarter. This includes a one-time, non-cash $70.5 million finance expense from exchange rate fluctuations, mainly related to amounts reclassified out of accumulated other comprehensive loss related to substantial completion of the liquidation of our Korean business entity. Non-GAAP net loss1 was $8.2 million, compared to $18.3 million in the prior quarter. GAAP net loss per share was $2.21, compared to $0.84 in the prior quarter. Non-GAAP net loss per share1 was $0.14, compared to $0.31 in the prior quarter. Cash flow from operating activities was $52.6 million, compared with $25.6 million in the prior quarter. Free cash flow1 generated was $43.3 million, compared to $22.8 million in the prior quarter. As of December 31, 2025, our cash and investments portfolio, net of debt, grew by $35.4 million to $244.2 million, compared to $208.8 million as of September 30, 2025. Full Year 2025 Summary The Company reported total revenues of $1.18 billion, up 31% from $901.5 million in 2024. Non-GAAP revenues1 were $1.17 billion, up 30% from $900.5 million in 2024. During the year approximately 465.7 thousand inverters, 10.8 million optimizers and 928 MWh of batteries for PV applications were recognized as revenue. GAAP gross margin was 16.6%, compared to negative 97.3% in 2024. Non-GAAP gross margin1 was 16.7%, compared to negative 89.7% in 2024. GAAP operating expenses were $498.0 million, compared to $831.1 million in 2024. Non-GAAP operating expenses1 were $350.7 million, compared to $447.1 million in 2024. GAAP operating loss was $301.7 million, compared to $1.71 billion in 2024.

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