2024-05-08 21:23:07 ET
SolarEdge Technologies, Inc. (SEDG)
Q1 2024 Earnings Conference Call
May 08, 2024, 04:30 PM ET
Company Participants
JB Lowe - Head of IR
Zvi Lando - Chief Executive Officer
Ronen Faier - Chief Financial Officer
Conference Call Participants
Andrew Percoco - Morgan Stanley
Brian Lee - Goldman Sachs
Philip Shen - Roth Capital Partners
Mark Strouse - JPMorgan
Colin Rusch - Oppenheimer
Austin Moeller - Canaccord
Kashy Harrison - Piper Sandler
Jordan Levy - Truist Securities
Vikram Bagri - Citi Research
Christine Cho - Barclays
Presentation
Operator
Hello and welcome to the SolarEdge Conference Call for the First Quarter ended March 31, 2024. This call is being webcast live on the company's website at www.solaredge.com in the Investors section on the Events Calendar page. This call is the sole property and copyright of SolarEdge with all rights reserved and any recording, reproduction or transmission of this call without the express written consent of SolarEdge is prohibited. You may listen to a webcast replay of this call by visiting the Event Calendar page of the SolarEdge investor website.
I would now like to turn the call over to JB Lowe, Head of Investor Relations for SolarEdge. Please begin.
JB Lowe
Thank you Chloe and good afternoon everyone. Thank you for joining us to discuss SolarEdge's operating results for the first quarter ended March 31, 2024, as well as the company's outlook for the second quarter of 2024. With me today are Zvi Lando, Chief Executive Officer, and Ronen Faier, Chief Financial Officer. Zvi will begin with a brief review of the results for the first quarter ended March 31, 2024. Ronen will review the financial results for the first quarter, followed by the company's outlook for the second quarter of 2024. We will then open the call for questions.
Please note that this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations. We encourage you to review the Safe Harbor statements contained in our press release, the slides posted on our website ahead of this call today and our filings with the SEC for a more complete description of such risks and uncertainties.
Please note this presentation describes certain non-GAAP measures including non-GAAP net income and non-GAAP net diluted earnings per share which are not measures prepared in accordance with U.S. GAAP. The non-GAAP measures are presented in this presentation because we believe that they provide investors with a means of evaluating and understanding how the company's management evaluates the company's operating performance.
Reconciliation of these measures can be found in our earnings release, presentation, and SEC filings. These non-GAAP measures should not be considered in isolation from, as substitutes for, or superior to, financial measures prepared in accordance with U.S. GAAP. Listeners who do not have a copy of the quarter ended March 31, 2024 press release or the supplemental material may obtain a copy by visiting the Investor Relations section of the company's website.
And I will now turn the call over to Zvi.
Zvi Lando
Thank you JB. Good afternoon and thank you all for joining us on our conference call. Starting with highlights of our first quarter results, we concluded the quarter with approximately $204 million in revenue. Revenues from our solar business were approximately $190 million, while revenues from our non-solar businesses were approximately $14 million. This quarter, we shipped 1.1 million power optimizers, 69,000 inverters, and 128 megawatt hour of batteries....
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SolarEdge Technologies, Inc. (SEDG) Q1 2024 Earnings Call Transcript