SolarEdge Technologies 10-Q: Receivables and Credit Loss
Ticker: SEDG · Form: 10-Q · Filed: 2024-05-09T00:00:00.000Z
Sentiment: neutral
Topics: receivables, credit-risk, financial-reporting
TL;DR
**SOLAREDGE 10-Q: $2,395 credit loss provision on loans as of Q1 2024.**
AI Summary
SolarEdge Technologies, Inc. filed a 10-Q for the period ending March 31, 2024. The filing details non-trade receivables from manufacturing vendors and loan receivables to third parties. As of March 31, 2024, the company's provision for credit loss on these loans was $2,395.
Why It Matters
This filing provides insight into SolarEdge's financial health by detailing its receivables and the associated credit risk, which can impact future revenue and profitability.
Risk Assessment
Risk Level: low — The filing primarily details standard financial reporting items like receivables and credit loss provisions, which are typical for a public company and do not indicate unusual risks.
Key Numbers
- $2,395 — Provision for credit loss (As of March 31, 2024, indicating the company's estimate of potential uncollectible loan amounts.)
Key Players & Entities
- SOLAREDGE TECHNOLOGIES, INC. (company) — Filer
- March 31, 2024 (date) — Reporting period end date
- $2,395 (dollar_amount) — Provision for credit loss
FAQ
What is the nature of the non-trade receivables mentioned in the filing?
Non-trade receivables are derived from the sale of components to manufacturing vendors who produce products, components, and testing equipment for SolarEdge Technologies, Inc.
How are the loan receivables measured and what is their expected repayment schedule?
Loan receivables are measured at their amortized cost, are subjected to the company's credit risk policy, and loan repayments are expected on a monthly or annual basis as per contractual terms.
What is the company's provision for credit loss as of March 31, 2024?
As of March 31, 2024, SolarEdge Technologies, Inc.'s provision for credit loss was $2,395.
Does SolarEdge Technologies, Inc. include the sale of components to contract manufacturers in its revenues?
No, the company does not reflect the sale of these components to contract manufacturers in its revenues.
What is the approximate fair value of the loan receivable as of March 31, 2024?
The amortized cost of the loan receivable approximates its fair value as of March 31, 2024.
From the Filing
0001178913-24-001670.txt : 20240509 0001178913-24-001670.hdr.sgml : 20240509 20240509160449 ACCESSION NUMBER: 0001178913-24-001670 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 100 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240509 DATE AS OF CHANGE: 20240509 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36894 FILM NUMBER: 24930383 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-Q 1 zk2431390.htm 10-Q 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 are loans to third parties. The loan repayments are expected on a monthly or annual basis as per the contractual terms of each loan agreement. The loan is measured at its amortized cost and is subjected to the Company's credit risk policy. The loans bear interest that represent market interest rate. As of March 31, 2024, the Company's provision for credit loss was $2,395. The amortized cost of the loan receivable approximates its fair value as of March 31, 2024. Represents an amount less than $1. http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssets http://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 0001419612 --12-31 Q1 false Inventory write-down is included under Inventories, net on the balance sheet. 0001419612 sedg:DeferredRevenueYearOneMember 2024-03-31 0001419612 sedg:DeferredRevenueYearTwoMember 2024-03-31 0001419612 sedg:DeferredRevenueYearThreeMember 2024-03-31 0001419612 sedg:DeferredRevenueYearFourMember 2024-03-31 0001419612 sedg:DeferredRevenueYearFiveMember 2024-03-31 0001419612 sedg:DeferredRevenueYearFiveThereafterMember 2024-03-31 0001419612 2024-03-31 0001419612 2024-01-01 2024-03-31 0001419612 2022-12-31 0001419612 2023-12-31 0001419612 2023-01-01 2023-03-31 0001419612 2023-03-31 0001419612 us-gaap:CommonStockMember 2022-12-31 0001419612 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001419612 us-gaap:RetainedEarningsMember 2022-12-31 0001419612 us-gaap:RetainedEarningsMember 2023-12-31 0001419612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001419612 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001419612 us-gaap:CommonStockMember 2023-12-31 0001419612 us-gaap:RetainedEarningsMember 2024-03-31 0001419612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001419612 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001419612 us-gaap:CommonStockMember 2024-03-31 0001419612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001419612 us-gaap:RetainedEarningsMember 2023-03-31 0001419612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001419612 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001419612 us-gaap:CommonStockMember 2023-03-31 0001419612 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001419612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001419612 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001419612 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001419612 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001419612 us-gaap:Accumulate