SolarEdge's second quarter revenue grew 20% to $346M as it returned to non-GAAP profitability

SolarEdge reported second quarter GAAP revenue of $346.2 million, a 20% increase year-over-year, and a GAAP loss per share of $0.50. The company returned to non-GAAP profitability, posting non-GAAP earnings of $0.05 per share, which was a significant beat against analyst expectations for a loss.

Key Highlights

• Revenue grew 19.6% year-over-year to $346.2 million, driven by strong demand in Europe and the U.S. commercial and industrial (C&I) segment.
• Achieved non-GAAP operating income of $10.2 million, marking a return to profitability on that basis for the first time since the second quarter of 2023.
• Non-GAAP gross margin expanded to 28.6% from 13.1% in the prior-year quarter, marking the sixth consecutive quarter of year-over-year expansion.
• The company guided third quarter revenue to a range of $310 million to $340 million, with the midpoint slightly below the second quarter's results.