SolarEdge Technologies, Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>SolarEdge Technologies, Inc. has filed its 2023 10-K report, detailing investments and financial performance.</b>

AI Summary

SOLAREDGE TECHNOLOGIES, INC. (SEDG) filed a Annual Report (10-K) with the SEC on February 26, 2024. SolarEdge Technologies, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company made a $5,500 investment in a privately-held company in January 2023, acquiring 34.8% ownership and accounting for it using the equity method. In 2023, SolarEdge's share of net loss from this equity investment was $350. The company also invested $2,500 in preferred stock of a privately-held company in April and July 2023, representing 4.5% ownership on a fully diluted basis. No new stock options were granted in 2023 or 2022.

Why It Matters

For investors and stakeholders tracking SOLAREDGE TECHNOLOGIES, INC., this filing contains several important signals. The filing provides a comprehensive overview of SolarEdge's financial health, operational activities, and strategic investments for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's performance, understand its investment strategies, and evaluate potential risks and opportunities.

Risk Assessment

Risk Level: medium — SOLAREDGE TECHNOLOGIES, INC. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to market conditions and competitive pressures within the renewable energy sector, as indicated by the nature of its business and investments.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand SolarEdge's performance and strategic direction.

Key Numbers

• 34.8% — Ownership Percentage (Investment in privately-held company's common stock)
• 4.5% — Ownership Percentage (Investment in privately-held company's preferred stock (fully diluted basis))
• 2023 — Year (No new options granted)
• 2022 — Year (No new options granted)

Key Players & Entities

• SOLAREDGE TECHNOLOGIES, INC. (company) — FILER
• SolarEdge Technologies, Inc. (company) — COMPANY CONFORMED NAME
• SolarEdge Technologies Inc (company) — FORMER CONFORMED NAME
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240226 (date) — FILED AS OF DATE
• $5,500 (dollar_amount) — investment in the common stock of a privately-held company
• $350 (dollar_amount) — share of net loss for the year ended December 31, 2023
• $2,500 (dollar_amount) — total investment in the preferred stock of a privately-held company

FAQ

Risk Factors

• Inventory Write-down [medium — financial]: Inventory write-downs are included under Inventories, net on the balance sheet, impacting reported inventory values.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-02-26: Filing Date — Date the 10-K report was officially submitted to the SEC.

Glossary

Equity Method of Accounting

An accounting method where an investment in another company is recorded at cost and adjusted for the investor's share of the investee's net income or loss. (Relevant for understanding how SolarEdge accounts for its significant investments in other companies.)

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. (The primary document for investors to assess a company's annual performance and financial health.)

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share SEDG NASDAQ (Global Sele
• $269.05 — he closing market price on that date of $269.05 per share as reported on the Nasdaq Glo

Filing Documents

• zk2431010.htm (10-K) — 3316KB
• exhibit_4-1.htm (EX-4.1) — 21KB
• exhibit_10-11.htm (EX-10.11) — 20KB
• exhibit_21-1.htm (EX-21.1) — 22KB
• exhibit_23-1.htm (EX-23.1) — 4KB
• exhibit_31-1.htm (EX-31.1) — 6KB
• exhibit_31-2.htm (EX-31.2) — 7KB
• exhibit_32-1.htm (EX-32.1) — 3KB
• exhibit_32-2.htm (EX-32.2) — 3KB
• exhibit_97-1.htm (EX-97.CLAWBACKPOLICY) — 11KB
• image0.jpg (GRAPHIC) — 55KB
• 0001178913-24-000717.txt (&nbsp;) — 16897KB
• sedg-20231231_cal.xml (EX-101.CAL) — 93KB
• sedg-20231231_def.xml (EX-101.DEF) — 401KB
• sedg-20231231_lab.xml (EX-101.LAB) — 1478KB
• sedg-20231231_pre.xml (EX-101.PRE) — 684KB
• sedg-20231231.xsd (EX-101.SCH) — 137KB
• zk2431010_htm.xml (XML) — 3389KB

Business

Business 1 Item 1A. Risk Factors 14 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3. Legal Proceedings 37 Item 4. Mine Safety Disclosures 37 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6. Reserved 39 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 61 Item 8. Financial F - 1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 62 Item 9A. Controls and Procedures 62 Item 9B. Other Information 63 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 PART III Item 10. Directors, Executive Officers and Corporate Governance 64 Item 11. Executive Compensation 64 Item 12. Security 64 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accountant Fees and Services 64 PART IV Item 15. Exhibits, Financial Statement Schedules 65 Item 16 Form 10-K Summary 66

Signatures

Signatures 67 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K and the documents incorporated herein by reference contain forward-looking statements that are based on our management's expectations, estimates, projections, beliefs and assumptions and on information currently available to our management. The forward-looking Discussion and Analysis of Financial Condition and Results of Operations." and "Item 7A. Quantitative and Qualitative Disclosures About Market Risk". This discussion contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, technology developments, new products and services, financing and investment plans, competitive position, industry and regulatory environment, effects of acquisitions, growth opportunities, and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "seek," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would," or similar expressions and the negatives of those terms.

Forward-looking statements

Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on forward-looking statements. Forward-looking and other statements regarding our sustainability efforts and aspirations are not an indication that these statements are necessarily material to investors or requiring disclosure in our filing with the Securities and Exchange Commission ("SEC"). In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve and assumptions that are subject to change in the future, including future rule-making. Also, forward-looking actual results to differ materially from our expectations include those discussed in Item 1A, Risk Factors, as well as those discussed elsewhere in this Annual Report on Form 10-K, including: future demand for renewable energy including solar energy solutions; our ability to forecast demand for our products accurately and to match production to such demand as well as our customers' ability to forecast demand based on inventory levels; macroeconomic conditions in our domestic and international markets, as well as inflation concerns, rising interest rates and recessionary concerns; the retail price of electricity derived from the utility grid or alternative energy sources; interest rates and supply of capital in the global financial markets in general and in the solar market specifically; competition, including introductions of power optimizer, inverter and

View Full Filing

View this 10-K filing on SEC EDGAR