SolarEdge Technologies
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SolarEdge Technologies (SEDG) investor relations material

SolarEdge Technologies Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary18 Feb, 2026

Executive summary

  • Achieved 70% year-over-year revenue growth in Q4 and 30% for the full year 2025, with four consecutive quarters of revenue growth and five consecutive quarters of margin expansion.

  • Gross margins expanded each quarter, and positive free cash flow was generated after a challenging 2024.

  • Gained market share in all U.S. segments and stabilized or grew share in Europe, ahead of the Nexus Pro platform rollout.

  • 2025 focused on restoring discipline and rebuilding margins; 2026 strategy shifts to profitable growth and global market share expansion via the Nexus platform and investments in AI data center power solutions.

Financial highlights

  • Q4 non-GAAP revenue was $334 million, up 70% year-over-year, slightly down sequentially; full-year 2025 revenues reached $1.18 billion, up 31% year-over-year.

  • Q4 non-GAAP gross margin rose to 23.3% from 18.8% in Q3, exceeding guidance; GAAP gross margin was 22.2%.

  • Q4 non-GAAP operating loss was $11 million; Q4 GAAP operating loss was $48.3 million.

  • Q4 non-GAAP net loss was $8.2 million; net loss per share was $0.14.

  • Free cash flow for Q4 was $43 million and $77 million for 2025, reversing a $421 million outflow in 2024.

Outlook and guidance

  • Q1 2026 revenue expected between $290 million and $320 million, above normal seasonality at midpoint, with no significant one-time or pull-forward revenue included.

  • Q1 non-GAAP gross margin guidance is 20%-24%; operating expenses expected at $88-$93 million, with higher OpEx due to currency effects.

  • Positive free cash flow expected in Q1 2026, with continued investment in working capital to support growth.

2026 market share growth initiatives
Explain Q1 2026 sequential revenue/margin dip
Sustainability of free cash flow generation
How will SST manufacturing scale for AI data centers?
Detail Europe's market share gain strategy.
Explain safe harbor revenue recognition differences.
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Frequently asked questions

SolarEdge Technologies Inc designs, develops, and sells inverter systems and power optimizers for solar energy installations. The company also offers energy storage solutions, electric vehicle chargers, and smart energy management systems for residential, commercial, and industrial customers. SolarEdge Technologies Inc primarily serves the renewable energy sector. The company is headquartered in Herzliya, Israel, and its shares are listed on the NASDAQ.

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