L R AS Published on Saturday 24 February 2024 - n° 477 - Categories:company results
SolarEdge: collapse in microinverter sales in Q4
SolarEdge suffered a 76% drop in sales of microinverters in the fourth quarter compared with the previous quarter. It delivered 901
MW-ac of inverters and 133 MWh of batteries. For the full year 2023, it shipped 12.6 GW-ac of inverters and 744 MWh of batteries.
Sales in the solar segment were just $282 million in the fourth quarter (down 58% on the third quarter). For the 2023 financial year, revenues from the solar segment amounted to 2.8 billion dollars, down just 4% on 2022.
477 solar edge bon between January 2020 and the end of 2023
The net loss for the fourth quarter was $162 million, compared with a loss of $61 million in the third quarter. For the full year 2023, SolarEdge reported a net profit of $34.3 million, down 63% from $93.8 million in 2022.
Inventory volumes doubled between Q3 and Q4, from 169 days to 386 days. These inventories will only decrease from the 2nd quarter of 2024.
https://www.pv-tech.org/solaredge-q4-inverter-shipments-drops/
PV Tech of 21 February 2024
Editor's note: What is impressive is the sharp and significant drop in activity in the fourth quarter. It is not unique to SolarEdge, but also to Enphase.
