SOLAREDGE TECHNOLOGIES INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
SEDG$25.86-6.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(1,493,450) | $196,712 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 47,215 | 42,019 |
| Provision to write down inventories to net realizable value | 638,966 | 20,674 |
| Loss on impairment and disposal of property, plant and equipment | 206,620 | - |
| Stock-based compensation expenses | 112,818 | 115,015 |
| Impairment of goodwill and intangible assets | 24,725 | - |
| Deferred income taxes, net | 79,831 | (18,199) |
| Gain from repurchasing of convertible notes | (15,455) | - |
| Loss (gain) from exchange rate fluctuations | 8,243 | (8,170) |
| Other items | 10,299 | 6,915 |
| Changes in assets and liabilities: | ||
| Trade receivables, net | 379,214 | (40,011) |
| Inventories, net | 15,858 | (458,475) |
| Prepaid expenses and other assets | (38,223) | 19,822 |
| Operating lease right-of-use assets, net | 12,286 | 12,323 |
| Trade payables, net | (284,255) | (53,996) |
| Warranty obligations | (39,294) | 130,863 |
| Deferred revenues and customers advances | 1,253 | 18,580 |
| Operating lease liabilities | (11,881) | (11,945) |
| Accrued expenses and other liabilities, net | 19,574 | (12,330) |
| Net cash used in operating activities | (325,656) | (40,203) |
| Cash flows from investing activities: | ||
| Investment in available-for-sale marketable securities | (200,919) | (214,516) |
| Proceeds from maturities of available-for-sale marketable securities | 632,866 | 191,810 |
| Proceeds from sales of available-for-sale marketable securities | 70,642 | 2,807 |
| Purchase of property, plant and equipment | (95,905) | (130,024) |
| Business combinations, net of cash acquired | (10,417) | (16,653) |
| Purchase of intangible assets | (10,000) | (10,600) |
| Disbursements for loans receivables | (37,500) | (13,000) |
| Investment in privately-held companies | (25,742) | (8,000) |
| Other investing activities | (4,270) | 9,989 |
| Net cash provided by (used in) investing activities | $318,755 | $(188,187) |
F - 7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Cont.)
| Nine Months EndedSeptember 30, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Cash flows from financing activities: | ||||
| Repurchase of common stock | $(50,315) | $ | - | |
| Partial repurchase of Notes 2025 | (267,900) | - | ||
| Proceeds from issuance of Notes 2029, net of issuance costs | 329,214 | - | ||
| Capped call transactions related to Notes 2029 | (28,342) | - | ||
| Tax withholding in connection with stock-based awards, net | (592) | (9,267) | ||
| Other financing activities | (1,938) | (2,038) | ||
| Net cash used in financing activities | (19,873) | (11,305) | ||
| Effect of exchange rate differences on cash and cash equivalents | (7,790) | 7,705 | ||
| Decrease in cash and cash equivalents | (34,564) | (231,990) | ||
| Cash and cash equivalents at the beginning of the period | 338,468 | 783,112 | ||
| Cash and cash equivalents at the end of the period | $303,904 | $551,122 | ||
| Supplemental disclosure of non-cash activities: | ||||
| Purchase of intangible assets and business combinations | $ | - | $11,307 | |
| Right-of-use asset recognized with a corresponding lease liability | $2,138 | $17,658 | ||
| Purchase of property, plant and equipment | $4,761 | $19,574 | ||
F - 8
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