SolarEdge Posts Strong Q4, Sets Q1 Outlook as Turnaround Takes Hold

Overview

• Fourth-quarter 2025 revenue rose about 70% year over year, non‑GAAP gross margin reached roughly 23%, and free cash flow was about $43 million.
• For full-year 2025, revenue grew about 30% and free cash flow totaled roughly $77 million versus negative $421 million in 2024.
• Management guided first-quarter 2026 revenue to $290 million–$320 million with expected gross margin of 20%–24%.
• The Nexis single‑SKU platform is scheduled to launch on March 19, with high‑volume shipments expected in the third quarter of 2026 and a broader transition in the second half of the year.
• SolarEdge reported U.S. market share gains and a ramp in domestic manufacturing with initial exports, outlined portfolio optimization largely complete despite one‑time charges tied to Kokam and an e‑Mobility sale, and noted its AI data‑center power effort is not expected to generate revenue before 2027.