The smart energy technology company delivered its strongest profitability improvement in several quarters, driven by higher revenue, expanding margins, and continued progress in its turnaround strategy.
SolarEdge Technologies (NASDAQ:SEDG) increased second-quarter revenue 20% year over year to $346.2 million, exceeding the prior year's performance.
The company returned to non-GAAP operating profitability for the first time since the second quarter of 2023, reporting non-GAAP operating income of $10.2 million.
Gross margin expanded for a sixth consecutive quarter year over year, reaching 27.5% on a GAAP basis.
Strong demand in Europe and the U.S. commercial and industrial (C&I) market offset continued weakness in the U.S. residential solar segment.
#year #gaap #revenue #continued
SolarEdge Technologies (NASDAQ:SEDG) increased second-quarter revenue 20% year over year to $346.2 million, exceeding the prior year's performance.
The company returned to non-GAAP operating profitability for the first time since the second quarter of 2023, reporting non-GAAP operating income of $10.2 million.
Gross margin expanded for a sixth consecutive quarter year over year, reaching 27.5% on a GAAP basis.
Strong demand in Europe and the U.S. commercial and industrial (C&I) market offset continued weakness in the U.S. residential solar segment.
#year #gaap #revenue #continued
3 months ago
