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SolarEdge Technologies, Inc. (SEDG) is a leading provider of energy solutions, primarily focused on solar energy systems and related technologies. The company designs, develops, manufactures, and sells DC optimized inverter solutions that maximize power generation at the photovoltaic (PV) module level. SEDG offers a comprehensive portfolio of products including power optimizers, inverters, batteries, and a cloud-based monitoring platform, serving residential, commercial, and utility-scale markets globally.
- Solar Segment - Designs and manufactures power optimizers, inverters, and batteries for PV applications, along with energy management solutions and a cloud-based monitoring platform.
- Energy Management Systems - Integrates PV applications with energy storage and backup solutions, offering electric vehicle (EV) charging capabilities, home energy management, grid services, and virtual power plants (VPPs).
- Energy Storage Segment - Specializes in high-energy, high-power lithium-ion cells and battery energy storage systems (BESS) for commercial, industrial, and utility markets, providing hardware, software, and engineering support.
- All Other Segment - Includes automation machines and previously e-Mobility products, with remaining PV-related e-mobility activities integrated into the Solar segment starting January 2024.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Ariel Porat Executive | Chief Financial Officer | None | Ariel Porat was appointed CFO on August 26, 2024. He previously held leadership roles at Siemens and has a strong background in finance and management. | |
Ronen Faier Executive | Interim Chief Executive Officer (prior to Shuki Nir) | Board member at Monday.com Ltd, Kaltura Inc. | Ronen Faier served as Interim CEO before Shuki Nir's appointment and has been with SolarEdge since 2011, previously as CFO. | |
Shuki Nir Executive | Chief Executive Officer | Board member at Oddity Tech (ODD), Kornit Digital Ltd. (KRNT), Cardo Systems Ltd. | Shuki Nir became CEO on December 4, 2024, after joining as CMO in June 2024. He has extensive experience in sales and marketing roles at SanDisk and msystems Ltd.. | |
Uri Bechor Executive | Chief Operating Officer | None | Uri Bechor joined SolarEdge in 2019 as COO, overseeing global operations. He has extensive experience from Flex Ltd.. | |
Avery More Board | Chairman of the Board | Involved with ORR Partners, Innoventions Capital, More Family Investments; Boards of BuzzStream, AppDome, HolistiCyber Ltd., senseIP, SageCyber | Avery More has been with SolarEdge since 2006 and became Chairman on November 6, 2024. He was the sole seed investor in SolarEdge. | |
Betsy Atkins Board | Board Member | Board member at Wynn Resorts Ltd., SL Green Realty Corp., Enovix Corporation; CEO of Baja Corporation | Betsy Atkins joined the Board in 2021 and is known for her expertise in corporate governance and ESG. | |
Dana Gross Board | Board Member | Board member at Tower Semiconductors Ltd., Playtika Holding Inc.; Head of Strategic Initiatives at Fiverr International Ltd. | Dana Gross joined the Board in 2023 and has over 25 years of strategic and financial expertise. | |
Dirk Carsten Hoke Board | Board Member | CEO of Volocopter; Board member at Spire Global, Inc.; Board of Advisors of Voyager Space | Dirk Carsten Hoke joined the Board in 2022 and has a strong background in global industries, including as CEO of Airbus Defence and Space. | |
Marcel Gani Board | Board Member | None | Marcel Gani has been on the Board since 2015 and is the Chairperson of the Audit Committee, with extensive financial expertise. | |
Nadav Zafrir Board | Board Member | Co-founder and Managing Partner of Team8 | Nadav Zafrir joined the Board in 2019 and has extensive experience in technology and leadership, including founding Team8 and serving as Commander of Unit 8200. |
- Given the significant inventory write-downs this quarter, what specific actions are you taking to prevent further obsolescence, and can you assure us that additional write-downs won't be necessary in the coming quarters?
- With aggressive price reductions in Europe impacting margins, how do you plan to balance regaining market share with maintaining profitability, especially as European demand continues to decline?
- Despite the challenging market conditions and lower revenue outlook, why aren't you implementing more aggressive operating expense reductions, and when can we expect OpEx to return to pre-COVID levels?
- Your convertible debt is coming due next year, coinciding with your plans to ramp up the business; why have you decided not to raise additional capital now to strengthen the balance sheet, and how confident are you in meeting these obligations without affecting operations?
- Given the uncertainty in both European and U.S. markets and increased competition from low-cost providers, what is your strategy to protect and grow market share, and how soon will new products contribute meaningfully to revenue?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
SMA Solar Technology AG | The company's DC optimized inverter system competes with products from traditional inverter manufacturers, including this competitor, which is a key player in the market for traditional inverters. |
Sungrow Power Supply Co., Ltd. | This competitor is another traditional inverter manufacturer that the company's DC optimized inverter system competes against. |
Huawei Technologies Co. Ltd. | This competitor is a Chinese inverter manufacturer that competes with the company's DC optimized inverter system. |
In the North American residential market, the company competes with this traditional inverter manufacturer. | |
This competitor is a microinverter manufacturer that competes with the company's DC optimized inverter system in the North American residential market. | |
LG Energy Solutions | This competitor is a global manufacturer of energy storage products, competing with the company's Energy Storage division. |
Samsung SDI | This competitor is another global manufacturer of energy storage products, competing with the company's Energy Storage division. |
CATL | This competitor is a global manufacturer of energy storage products, competing with the company's Energy Storage division. |
BYD | This competitor is a global manufacturer of energy storage products and residential lithium-ion batteries, competing with the company's Energy Storage division. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Memodo GmbH | Key solar distributor | Solar | 24.0% of 2023 revenues (combined with Krannich) ; contributed to the 46.8% consolidated trade receivables in 2023. |
Krannich Solar GmbH & Co. KG | Key solar distributor | Solar | 24.0% of 2023 revenues (combined with Memodo) ; contributed to the 46.8% consolidated trade receivables in 2023. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Wevo | 2024 | SolarEdge completed the acquisition of all remaining shares of Wevo on April 1, 2024, for approximately $13.33 million in cash, following an earlier 34.8% investment for $5.5 million. The deal, accounted for as a business combination, includes key assets (technology, customer relationships, trade name) and generated $11.344 million in goodwill from expected post-acquisition synergies to integrate Wevo’s platform into the SolarEdge ONE energy solution for the C&I segment. |
Ampeers Energy GmbH | 2024 | The acquisition involved purchasing minority shares through both transactions with existing shareholders and a share capital increase, with an investment of about $17,000 for a 28.23% stake, and is accounted for using the equity method. This strategic move, aimed at expanding into technology-driven energy solutions, provides access to Ampeers’ ICT platform specializing in programming, operation, and marketing in the energy sector. |
Hark Systems Ltd. | 2023 | SolarEdge acquired Hark Systems for approximately $18.3 million in cash to enhance its energy management capabilities in the C&I market. The transaction, structured as a business combination, recognized $12.3 million in goodwill and key identifiable assets including current technology, customer relationships, and a trade name, thereby augmenting SolarEdge’s IoT and energy analytics offerings. |
No recent press releases or 8-K filings found for SEDG.