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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

August 8, 2025
This week several solar developers have raised funds for projects around the world, including BRUC in Europe, Greenalia in the US, Qair in Mauritius and CREC in Philippines.
August 8, 2025
German solar inverter manufacturer SMA Solar posted losses in the first half of 2025, as demand in the residential and corporate & industrial (C&I) solar sectors 'remains weak'.
August 8, 2025
US solar tracker manufacturer Array Technologies has posted revenue of US$362.2 million in the second quarter of this year.
August 8, 2025
SolarEdge posted inverter shipments of 1.19GW in the second quarter of this year, alongside BESS sales of 247MWh.
August 7, 2025
US residential solar installer Sunrun says it has positioned itself to continue generating strong financial returns after the passing of the 'One Big, Beautiful Bill'.
Premium
August 6, 2025
PV Talk: LevelTen’s Andrés Acosta discusses how an oversupply of clean projects is shaping Europe’s PPA market.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines