SolarEdge posts decreased net income in 2022, expects record revenue in Q1 2023

February 14, 2023
Facebook
Twitter
LinkedIn
Reddit
Email
SolarEdge said revenue in Q1 2023 will be up to US$945 million. Image: SolarEdge

Israel-headquartered smart energy technology company SolarEdge’s yearly net income in 2022 dropped by 45%, despite the total revenue increasing by 58% year-on-year. 

In its financial results announcement, SolarEdge said its GAAP net income in 2022 decreased to US$93.8 million, down 45% from US$169.2 million in the prior year. Its GAAP net diluted earnings per share (EPS) was US$1.65, down from US$3.06 in 2021. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company’s revenue increased by 58% year-on-year to a record of US$3.11 billion, up from US$1.96 billion in 2021. The increase was partly contributed by the solar segment, as its revenue reached US$2.92 billion, equivalent to a yearly increase of 63%. 

The GAAP gross margin in 2022 was 27.2%, down 4.8 percentage points from 32% in 2021. Additionally, the gross margin from the solar segment was 29.8%. 

A total of 10.5GW of inverters and 889MWh of batteries were shipped last year. 

SolarEdge CEO Zvi Lando described 2022 as “challenging yet very successful” due to the “unprecedented demand for solar energy in general” and its products created by global economic and geopolitical events, as well as post pandemic dynamics.

The company also announced its Q4 results in the same statement. Its GAAP net income was US$20.8 million, down 16% from US$24.7 million in Q3 2022 and 49% from US$41.0 million in the same quarter last year. Despite the drop, SolarEdge reported its record revenue in Q4 of US$890.7 million, up 6% from US$836.7 million in Q3 2022 and up 61% from US$551.9 million in Q4 last year.

The GAAP net diluted EPS in Q4 2022 was US$0.36, decreasing from US$0.43 in the prior quarter and US$0.74 in the same quarter last year.

The solar segment also performed well in Q4 last year, as it reached US$837.0 million, increasing by 6% from US$788.6 million in Q3 and 66% from US$502.7 million in the same quarter last year. Gross margin from the solar segment was 32.4%, up 4.1 percentage points from 28.3% in Q3 but down from 32.8% in the same quarter last year.

Looking ahead, SolarEdge also predicted that revenue in Q1 2023 will be within the range of US$915 million to US$945 million, breaking the record of Q4 2022, while revenue from the solar segment will from US$875 million to US$905 million. 

The gross margin from the solar segment is expected to be within the range of 31% to 34%. 

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 29, 2025
The European Bank for Reconstruction and Development (EBRD) has provided US$142 million in financing for the construction of a 1GW solar and 1.3GWh BESS portfolio in Uzbekistan.
Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 24, 2025
US solar tracker manufacturer Nextracker and Saudi-based energy company Abunayyan Holding have formed a joint venture (JV) in Saudi Arabia.
October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany