SolarEdge reports 58 percent increase in 2022 revenue

For fiscal year 2022, Israeli inverter and power electronics provider Solaredge Technologies, Inc. reports revenues of $ 3.11 billion, a 58 percent increase over the previous year. The solar business generated the vast majority of these revenues at $ 2.92 billion, and also an even more significant increase of 63 percent. SolarEdge sold 10.5 gigawatts (GW) of inverters and 889 megawatt hours (MWh) of battery systems.
A disproportionate share of the 2023 revenue - $ 891 million, 3.14 GW of inverter capacity and 218 MWh of battery storage - came from the fourth quarter.
The New York Stock Exchange (Nasdaq) listed company reports margins and profits under Generally Accepted Accounting Principles (GAAP) and as non-GAAP results. 2023 GAAP net income was $ 93.8 million and non-GAAP net income was $ 351.2 million.
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