Solaredge Technologies Inc Stock Price, News & Analysis

Ampt LLC announced that the U.S. International Trade Commission (ITC) has launched an investigation into SolarEdge Technologies (NASDAQ: SEDG) based on allegations of patent infringement. The investigation stems from Ampt's complaint requesting a ban on the import and sale of SolarEdge's power systems and components that violate Ampt’s patents. The involved products include power optimizers and inverters. Ampt aims for a decision by the end of 2023. Additionally, Ampt filed a patent infringement lawsuit in Delaware, seeking substantial damages and an injunction.

SolarEdge Technologies, Inc. (Nasdaq: SEDG) reported record revenues of $727.8 million for Q2 2022, marking an 11% increase quarter-over-quarter and a 52% rise year-over-year. The solar segment alone generated $687.6 million, up 13% from the prior quarter. However, GAAP net income fell 54% to $15.1 million, and net diluted EPS decreased to $0.26. The company expects Q3 revenues between $810 million and $840 million, with non-GAAP gross margins projected at 26% to 29%. Despite supply chain challenges, SolarEdge aims for sustainable growth.

Ampt LLC has filed a complaint with the U.S. International Trade Commission against SolarEdge Technologies (NASDAQ: SEDG), seeking to ban the import of its infringing products. The complaint alleges that SolarEdge unlawfully uses Ampt's patented optimizer technology. Concurrently, Ampt has initiated a similar action in the U.S. District Court in Delaware for substantial monetary damages. The ITC action requests an exclusion order against SolarEdge's infringing systems and components, which include power optimizers and inverters.

SolarEdge Technologies (NASDAQ: SEDG) will announce its Q2 2022 financial results on August 2, 2022, after the market closes. A conference call is scheduled for 4:30 P.M. ET on the same day to discuss the results. Interested parties can access the live call by dialing the provided phone numbers or via a webcast available on SolarEdge’s Investor Relations website. A recording will be accessible for about 30 days post-call.

SolarEdge Technologies has announced the opening of its new battery cell manufacturing facility, Sella 2, in South Korea. This 2 GWh facility will produce test cells and is expected to ramp up production in the second half of 2022. Sella 2 aims to bolster SolarEdge's supply of lithium-ion batteries, supporting its energy storage solutions and enhancing supply chain resilience. The facility is designed to manufacture batteries for various applications, including residential solar and energy storage systems.

SolarEdge Technologies (NASDAQ: SEDG) has entered into a global patent license agreement with Huawei Technologies. This agreement includes a cross-license covering patents for both companies' products and resolves all pending patent litigation in Germany and China. Specific terms remain confidential, but this settlement signifies a positive step by eliminating legal disputes.

SolarEdge Technologies (NASDAQ: SEDG) has announced the launch of SolarEdge Home, a comprehensive portfolio of home energy management products, at Intersolar 2022 in Munich. This innovative solution enables homeowners to optimize solar energy production, usage, and storage via a smart operating system and various hardware components. The system is designed to enhance energy independence and reduce grid dependency while facilitating easier installation for service providers.

SolarEdge Technologies reported record revenues of $655.1 million for Q1 2022, representing a 62% year-over-year growth. The solar segment contributed $608.0 million to the revenues. GAAP net income was $33.1 million, down 19% from the previous quarter. Non-GAAP net income increased 10% to $68.8 million. However, gross margins declined significantly; GAAP gross margin fell to 27.3%.

Looking ahead, the outlook for Q2 2022 projects revenues between $710 million and $740 million.

SolarEdge Technologies, Inc. (NASDAQ: SEDG) has appointed Mr. Dirk Carsten Hoke to its board of directors. Hoke brings over 25 years of experience, including his role as CEO of Airbus Defence and Space. His diverse background spans various industries, enhancing the board's expertise. The appointment aligns with SolarEdge's goal of fostering innovative perspectives within its leadership. Chairman Nadav Zafrir expressed confidence in Hoke's potential contributions, while the Nominating Committee emphasized the importance of diverse skill sets in driving the company's strategic direction.