SolarEdge Details Receivables & Loans in 2023 10-K Filing

TL;DR

**SolarEdge's 10-K shows complex receivables and third-party loans, hinting at diversified financial operations beyond core sales.**

AI Summary

SolarEdge Technologies, Inc. (SEDG) filed its 10-K on February 26, 2024, for the fiscal year ended December 31, 2023. The filing details the company's financial structure, including vendor non-trade receivables from component sales to manufacturing vendors and loan receivables to third parties with agreed interest. The company, identified by CIK 0001419612, operates in the semiconductors and related devices industry.

Why It Matters

Understanding SolarEdge's receivables and loan structures provides insight into its operational financing and potential revenue streams beyond direct product sales, impacting its overall financial health and future growth.

Risk Assessment

Risk Level: medium — The presence of loan receivables to third parties introduces credit risk, as repayment is dependent on the financial health of those third parties.

Key Players & Entities

• SOLAREDGE TECHNOLOGIES, INC. (company) — filer
• 0001419612 (company) — Central Index Key (CIK)
• December 31, 2023 (date) — fiscal year end
• February 26, 2024 (date) — filing date

FAQ

From the Filing

0001178913-24-000717.txt : 20240226 0001178913-24-000717.hdr.sgml : 20240226 20240226123402 ACCESSION NUMBER: 0001178913-24-000717 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 149 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240226 DATE AS OF CHANGE: 20240226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLAREDGE TECHNOLOGIES, INC. CENTRAL INDEX KEY: 0001419612 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 205338862 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36894 FILM NUMBER: 24675736 BUSINESS ADDRESS: STREET 1: 1 HAMADA STREET CITY: HERZILIYA PITUACH STATE: L3 ZIP: 4673335 BUSINESS PHONE: 972 (9) 957-6620 MAIL ADDRESS: STREET 1: 1 HAMADA STREET CITY: HERZILIYA PITUACH STATE: L3 ZIP: 4673335 FORMER COMPANY: FORMER CONFORMED NAME: SolarEdge Technologies Inc DATE OF NAME CHANGE: 20071128 10-K 1 zk2431010.htm 10-K SOLAREDGE TECHNOLOGIES, INC. - 1419612 - 2024 Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products, components and other testing equipment for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues. Loan receivables is a loan to third parties. The loan will be repaid on a monthly basis with an additional agreed interest for the long term portion of the loan. http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OperatingLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2023#FinanceLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#AccountsPayableAndOtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccountsPayableAndOtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccountsPayableAndOtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccountsPayableAndOtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherOperatingIncome http://fasb.org/us-gaap/2023#OtherOperatingIncome http://fasb.org/us-gaap/2023#UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember P0Y P0Y No new options were granted in 2023 and 2022. Inventory write-down is included under Inventories, net on the balance sheet. In January 2023, the Company completed an investment of $5,500 in the common stock of a privately-held company which represents 34.8% of its outstanding shares. The Company accounted for this investment using the equity method of accounting. The Company's share of net loss for the year ended December 31, 2023 was $350. In April and July of 2023, the Company completed a total investment of $2,500 in the preferred stock of a privately-held company which represents 4.5% of its outstanding shares on a fully diluted basis. The Company accounted for this investment as an equity investment without readily determinable fair values. No impairment or other adjustments related to observable price changes in orderly transactions for identical or similar investments were identified. false FY 0001419612 See Note 9 In the year ended December 31, 2021, the Company received a payment of $859 out of the SolarEdge Korea (formerly Kokam) acquisition escrow, with regards to a working capital adjustment. See Note 20c Represents an amount less than $1. Except for Germany, Netherlands and Italy Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net. Related to deferred tax assets that wou