Updated May 8, 2025, 7:20 PM UTC
Income Statement - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenues (USD, thousands) | 316,044.00 | 2,976,528 | 204,399 | 265,405 | 260,903 | 170,749.00 | 901,456 | 219,480 | ||||||||
Cost of revenues (USD, thousands) | 372,469.00 | 2,272,705 | 230,586 | 276,374 | 963,229 | 308,471.00 | 1,778,660 | 201,944 | ||||||||
Gross profit (loss) (USD, thousands) | (56,425.00) | 703,823 | (26,187) | (10,969) | (702,326) | (137,722.00) | (877,204) | 17,536 | ||||||||
Operating expenses (USD, thousands) | 181,156.00 | 663,618 | 147,518 | 149,213 | 382,940 | 151,413.00 | 831,084 | 120,262 | ||||||||
Research and development expense (USD, thousands) | 75,001.00 | 321,482 | 75,351 | 69,276 | 70,372 | 62,238.00 | 277,237 | 61,997 | ||||||||
Sales and marketing expense (USD, thousands) | 38,779.00 | 164,318 | 38,911 | 39,978 | 37,427 | 30,549.00 | 146,865 | 31,657 | ||||||||
General and administrative expense (USD, thousands) | 34,628.00 | 146,504 | 30,865 | 39,008 | 41,212 | 36,370.00 | 147,455 | 30,183 | ||||||||
Other operating expense (income), net (USD, thousands) | - | 31,314 | 2,391 | 951 | 233,929 | 22,256.00 | 259,527 | (3,575) | ||||||||
Operating income (loss) (USD, thousands) | (237,581.00) | 40,205 | (173,705) | (160,182) | (1,085,266) | (289,135.00) | (1,708,288) | (102,726) | ||||||||
Financial income (expense), net (USD, thousands) | 22,055.00 | 41,212 | (7,064) | (865) | 5,558 | (12,199.00) | (14,570) | 10,068 | ||||||||
Other income (loss), net (USD, thousands) | - | (318) | - | 18,551 | (3,928) | - | 14,547 | 148 | ||||||||
Income (loss) before income taxes (USD, thousands) | (215,235.00) | 81,099 | (180,769) | (142,496) | (1,083,636) | (301,410.00) | (1,708,311) | (92,510) | ||||||||
Income taxes (USD, thousands) | (53,202.00) | 46,420 | 23,754 | 12,245 | (121,108) | (11,041.00) | (96,150) | (5,726) | ||||||||
Net loss from equity method investments (USD, thousands) | - | 350 | (296) | (567) | (577) | (456.00) | (1,896) | (287) | ||||||||
Net income (loss) (USD, thousands) | (162,383.00) | 34,329 | (157,311) | (130,818) | (1,205,321) | (312,907.00) | (1,806,357) | (98,523) | ||||||||
Net basic earnings (loss) per share (USD) | (2.89) | 0.61 | (2.75) | (2.31) | (21.13) | (5.45) | (31.64) | (1.70) | ||||||||
Net diluted earnings (loss) per share (USD) | (2.70) | 0.60 | (2.75) | (2.31) | (21.13) | (5.45) | (31.64) | (1.70) | ||||||||
Weighted average shares used in computing net basic earnings (loss) per share (shares) | (112,745,524.00) | 56,557,106 | 57,140,126 | 56,687,006 | 57,029,983 | (113,774,933.00) | 57,082,182 | 57,467,946 | ||||||||
Weighted average shares used in computing net diluted earnings (loss) per share (shares) | (117,811,483.00) | 57,237,518 | 57,140,126 | 56,687,006 | 57,029,983 | (113,774,933.00) | 57,082,182 | 57,467,946 | ||||||||
Balance Sheet - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Cash and cash equivalents [USD, thousands] | 338,468 | 338,468 | 214,229 | 259,498 | 303,904 | 274,611 | 274,611 | 401,364 | ||||||||
Restricted cash [USD, thousands] | - | - | - | - | - | 135,328 | 135,328 | 104,459 | ||||||||
Marketable securities, current [USD, thousands] | 521,570 | 521,570 | 466,407 | 430,333 | 374,869 | 311,279 | 311,279 | 250,267 | ||||||||
Trade receivables, net [USD, thousands] | 622,425 | 622,425 | 404,390 | 295,590 | 239,408 | 160,423 | 160,423 | 132,577 | ||||||||
Inventories, net [USD, thousands] | 1,443,449 | 1,443,449 | 1,549,122 | 1,505,101 | 798,383 | 645,897 | 645,897 | 636,597 | ||||||||
Prepaid expenses and other current assets [USD, thousands] | 378,394 | 378,394 | 354,919 | 402,673 | 401,551 | 523,027 | 523,027 | 464,419 | ||||||||
Total current assets [USD, thousands] | 3,304,306 | 3,304,306 | 2,989,067 | 2,893,195 | 2,118,115 | 2,050,565 | 2,050,565 | 1,989,683 | ||||||||
Marketable securities, long-term [USD, thousands] | 407,825 | 407,825 | 268,203 | 120,260 | 56,041 | 42,597 | 42,597 | 34,051 | ||||||||
Property, plant and equipment, net [USD, thousands] | 614,579 | 614,579 | 605,223 | 595,623 | 423,905 | 343,438 | 343,438 | 339,824 | ||||||||
Operating lease right-of-use assets, net [USD, thousands] | 64,167 | 64,167 | 59,474 | 53,510 | 43,088 | 41,393 | 41,393 | 48,639 | ||||||||
Intangible assets, net [USD, thousands] | 35,345 | 35,345 | 33,037 | 36,790 | 11,169 | - | - | 8,874 | ||||||||
Goodwill [USD, thousands] | 42,996 | 42,996 | 41,470 | 52,042 | 51,875 | - | - | 48,626 | ||||||||
Loan receivables, net [USD, thousands] | 57,856 | 57,856 | 61,480 | - | - | 45,678 | 45,678 | 0 | ||||||||
Other long-term assets [USD, thousands] | 37,601 | 37,601 | 47,784 | 65,046 | 112,201 | 64,736 | 64,736 | 55,476 | ||||||||
Total long-term assets [USD, thousands] | 1,283,425 | 1,283,425 | 1,177,755 | 1,055,019 | 698,279 | 595,888 | 595,888 | 535,490 | ||||||||
Total assets [USD, thousands] | 4,587,731 | 4,587,731 | 4,166,822 | 3,948,214 | 2,816,394 | 2,646,453 | 2,646,453 | 2,525,173 | ||||||||
Trade payables, net [USD, thousands] | 386,471 | 386,471 | 171,412 | 134,421 | 94,730 | 107,543 | 107,543 | 135,435 | ||||||||
Employees and payroll accruals [USD, thousands] | 76,966 | 76,966 | 73,666 | 67,810 | 70,120 | 76,292 | 76,292 | 76,360 | ||||||||
Warranty obligations, current [USD, thousands] | 183,047 | 183,047 | 181,333 | 169,214 | 163,561 | 140,249 | 140,249 | 125,172 | ||||||||
Deferred revenues and customers advances, current [USD, thousands] | 40,836 | 40,836 | 36,081 | 28,457 | 27,367 | 140,870 | 140,870 | 76,491 | ||||||||
Accrued expenses and other current liabilities [USD, thousands] | 205,911 | 205,911 | 196,398 | 166,922 | 202,134 | 246,078 | 246,078 | 219,496 | ||||||||
Convertible senior notes, net, current [USD, thousands] | - | - | - | - | 345,900 | 346,305 | 346,305 | 341,472 | ||||||||
Total current liabilities [USD, thousands] | 893,231 | 893,231 | 658,890 | 566,824 | 903,812 | 1,057,337 | 1,057,337 | 974,426 | ||||||||
Convertible senior notes, net, long-term [USD, thousands] | 627,381 | 627,381 | 628,115 | 638,703 | 329,614 | 330,006 | 330,006 | 330,389 | ||||||||
Warranty obligations, long-term [USD, thousands] | 335,197 | 335,197 | 321,166 | 321,618 | 315,343 | 292,116 | 292,116 | 287,530 | ||||||||
Deferred revenues, long-term [USD, thousands] | 214,607 | 214,607 | 218,535 | 222,557 | 226,770 | 231,049 | 231,049 | 243,649 | ||||||||
Finance lease liabilities [USD, thousands] | 45,145 | 45,145 | 43,887 | 39,244 | 39,197 | 39,159 | 39,159 | 37,862 | ||||||||
Operating lease liabilities [USD, thousands] | 62,774 | 62,774 | 57,507 | 36,838 | 31,293 | 30,018 | 30,018 | 33,325 | ||||||||
Other long-term liabilities [USD, thousands] | 18,444 | 18,444 | 17,953 | 16,241 | 13,999 | 8,426 | 8,426 | 23,779 | ||||||||
Total long-term liabilities [USD, thousands] | 1,282,591 | 1,282,591 | 1,267,381 | 1,275,201 | 956,216 | 930,774 | 930,774 | 956,534 | ||||||||
Common stock of $0.0001 par value [USD, thousands] | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | ||||||||
Additional paid-in capital [USD, thousands] | 1,680,622 | 1,680,622 | 1,719,523 | 1,744,411 | 1,779,212 | 1,813,198 | 1,813,198 | 1,845,719 | ||||||||
Treasury stock, at cost [USD, thousands] | - | - | (33,222) | (50,315) | (50,315) | (50,194) | (50,194) | (50,194) | ||||||||
Accumulated other comprehensive loss [USD, thousands] | (46,885) | (46,885) | (66,611) | (77,950) | (57,253) | (76,477) | (76,477) | (74,604) | ||||||||
Accumulated deficit [USD, thousands] | - | - | - | - | - | - | - | (1,126,714) | ||||||||
Total stockholders’ equity [USD, thousands] | 2,411,909 | 2,411,909 | 2,240,551 | 2,106,189 | 956,366 | 658,342 | 658,342 | 594,213 | ||||||||
Total liabilities and stockholders’ equity [USD, thousands] | 4,587,731 | 4,587,731 | 4,166,822 | 3,948,214 | 2,816,394 | 2,646,453 | 2,646,453 | 2,525,173 | ||||||||
Cash Flow - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Net income (loss) (USD, thousands) | (162,383.00) | 34,329 | (157,311) | (130,818.00) | - | - | (1,806,357) | (98,523) | ||||||||
Depreciation and amortization (USD, thousands) | 15,177.00 | 57,196 | 14,988 | 15,442.00 | - | - | 59,865 | 12,001 | ||||||||
Stock-based compensation expenses (USD, thousands) | 34,930.00 | 149,945 | 37,606 | 38,571.00 | - | - | 137,251 | 31,426 | ||||||||
Deferred income taxes, net (USD, thousands) | (24,872.00) | (43,071) | (41,847) | (8,996.00) | - | - | 79,209 | (1,029) | ||||||||
Loss (gain) from exchange rate fluctuations (USD, thousands) | (18,708.00) | (26,878) | 7,799 | 2,700.00 | - | - | 11,918 | (2,930) | ||||||||
Other items (Adjustments) (USD, thousands) | 1,249.00 | 8,164 | 4,371 | (1,031.00) | - | - | 8,030 | 2,271 | ||||||||
Changes in assets and liabilities: Trade receivables, net (USD, thousands) | 336,440.00 | 296,429 | 210,376 | 107,198.00 | - | - | 451,707 | 29,247 | ||||||||
Changes in assets and liabilities: Inventories, net (USD, thousands) | (253,053.00) | (690,854) | (105,810) | 47,046.00 | - | - | 67,799 | 12,285 | ||||||||
Changes in assets and liabilities: Prepaid expenses and other assets (USD, thousands) | (111,345.00) | (91,523) | 42,164 | (39,678.00) | - | - | (122,484) | 100,361 | ||||||||
Changes in assets and liabilities: Operating lease right-of-use assets, net (USD, thousands) | - | - | 5,255 | 6,137.00 | - | - | 15,805 | 3,659 | ||||||||
Changes in assets and liabilities: Trade payables, net (USD, thousands) | (13,799.00) | (67,795) | (210,449) | (35,163.00) | - | - | (285,505) | 30,275 | ||||||||
Changes in assets and liabilities: Warranty obligations (USD, thousands) | 2,227.00 | 133,090 | (15,582) | (11,596.00) | - | - | (85,541) | (19,745) | ||||||||
Changes in assets and liabilities: Deferred revenues and customers advances (USD, thousands) | 21,052.00 | 39,632 | (523) | (3,505.00) | - | - | 119,519 | (51,970) | ||||||||
Changes in assets and liabilities: Operating lease liabilities (USD, thousands) | - | - | (5,219) | (5,823.00) | - | - | (15,829) | (3,571) | ||||||||
Changes in assets and liabilities: Accrued expenses and other liabilities, net (USD, thousands) | (6,895.00) | (30,986) | (377) | (12,261.00) | - | - | 78,547 | (9,934) | ||||||||
Net cash provided by (used in) operating activities (GAAP) (USD, thousands) | (139,910.00) | (180,113) | (217,019) | (44,772) | (89,332) | 37,804.00 | (313,319) | 33,823 | ||||||||
Investment in available-for-sale marketable securities (USD, thousands) | (81,880.00) | (296,396) | (129,221) | (26,113.00) | - | - | (253,431) | (72,465) | ||||||||
Proceeds from maturities of available-for-sale marketable securities (USD, thousands) | - | - | - | - | - | - | 719,454 | 142,931 | ||||||||
Purchase of property, plant and equipment (USD, thousands) | (40,499.00) | (170,523) | (26,347) | (22,188.00) | - | - | (108,163) | (10,109) | ||||||||
Repayment related to governmental grant (USD, thousands) | - | - | - | - | - | - | - | (6,643) | ||||||||
Disbursements for loans receivables (USD, thousands) | - | (58,000) | (7,500) | (30,000.00) | - | - | (37,500) | 0 | ||||||||
Investment in privately-held companies (USD, thousands) | 0.00 | (8,000) | (8,831) | (16,819.00) | - | - | (25,664) | 0 | ||||||||
Proceeds from loans receivables (USD, thousands) | - | - | 1,625 | - | - | - | 32,150 | 13,653 | ||||||||
Other investing activities (USD, thousands) | (211.00) | 2,982 | (323) | (417.00) | - | - | (4,707) | 230 | ||||||||
Net cash provided by (used in) investing activities (USD, thousands) | (80,707.00) | (268,894) | 149,008 | 94,216.00 | - | - | 416,286 | 67,597 | ||||||||
Repurchase of common stock (USD, thousands) | - | - | (33,222) | (16,793.00) | - | - | (50,194) | 0 | ||||||||
Repurchase of convertible debt (USD, thousands) | - | - | - | - | - | - | - | (5,093) | ||||||||
Other financing activities (USD, thousands) | 216.00 | 226 | (517) | (722.00) | - | - | (2,626) | (1,144) | ||||||||
Net cash provided by (used in) financing activities (USD, thousands) | (651.00) | (11,956) | (50,987) | 303.00 | - | - | (20,129) | (6,237) | ||||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash (USD, thousands) | 8,614.00 | 16,319 | (5,241) | (4,478.00) | - | - | (11,367) | 701 | ||||||||
Increase (decrease) in cash, cash equivalents and restricted cash (USD, thousands) | (211,452.00) | (460,963) | (124,239) | 45,269.00 | - | - | 71,471 | 95,884 | ||||||||
Supplemental disclosure of non-cash activities: Right-of-use asset recognized with corresponding lease liability (USD, thousands) | 419.00 | 18,077 | 1,085 | 420.00 | - | - | 2,931 | 10,881 | ||||||||
Supplemental disclosure of non-cash activities: Purchase of property, plant and equipment (USD, thousands) | (13,251.00) | 6,323 | 4,760 | 1,208.00 | - | - | 5,783 | 1,731 | ||||||||
Cash, cash equivalents and restricted cash, beginning of period (USD, thousands) | - | - | - | 338,468 | 338,468 | 338,468 | 338,468 | 409,939 | ||||||||
Cash, cash equivalents and restricted cash, end of period (USD, thousands) | - | - | - | 259,498 | 303,904 | 409,939 | 409,939 | 505,823 |