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SolarEdge Reports 76% Drop in Q4 Inverter Shipments Amid Slowing Demand, Forecasts Further Revenue Decline.

SolarEdge’s Q4 2023 volume of inverter shipments dropped by 76% quarterly due to a significant slowdown in demand. The company’s revenues from the solar segment were only US$282.4 million, a 58% decrease from US$676.9 million in the previous quarter, and by 66% from $837.0 million the same quarter last year. For FY 2023, revenues from this segment were US$2.8 billion, down only 4% from the previous year. SolarEdge’s CEO, Zvi Lando, stated that the company had implemented measures to align the company’s cost structure with a projected business outlook, including closure or capacity reductions across its manufacturing base and exiting from certain lines of business. Looking ahead, the company expects its revenues for Q1 2024 to be within the range of US$175 million to US$215 million, down by 32-44.6% quarter-on-quarter.

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