SolarEdge posts record revenue, shipments for Q2 as solid demand in US and also Europe buoys performance

• Inverter and also power administration options maker SolarEdge has posted record revenues and also inverter shipments for Q2 as it gained from strong demand for its products in the US and Europe, while resolving previous supply chain problems that had actually hindered performance in the previous quarter.

In Q2 2022, SolarEdge shipped 2.52 GW of its inverters, causing a record revenue of US$ 727.8 million, up 11% from US$ 655.1 million from Q1 2022 as well as up 52% from the same quarter last year.

At the same time, the company went beyond the 2.5 GW shipment degree for the very first time. Of these, 936MW were sent out to the US, 1.2 GW to Europe, building on SolarEdge's solid performance there recently, and also 357MW headed out to the rest of the world.

In Q1 SolarEdge benefited from high demand for its items in Europe to increase revenues to a then-quarterly record, regardless of supply chain problems forcing it count on air freight to sate European demand.

Out of the items shipped this quarter, 51% were industrial products, while the continuing to be 49% were residential, SolarEdge's CFO Ronen Faier said in a conference call with analysts.

Its gross margin, however, was 25.1%, down from 27.3% in Q1 and below 32.5% in the same quarter last year. But the firm anticipates this to rise to in between 27-30% for its solar sector in Q3 adhering to a reordering of its supply chain and dropping component expenses.

SolarEdge has previously said it means to raising shipments to the United States from a new production plant in Mexico as it looks to reduce freight costs and reduce the impact of tariffs on imports.

Faier claimed this would allow the company to lower tariffs and sea freight costs when shipping to the United States as well as he expects the Mexico center to have a 100% run price at the end of Q4, with every one of those products heading to the United States residential field.

He likewise noted the cost of key components, such as aluminium as well as copper, were reducing, which would have a favorable impact on the firm's procedures.

" They are much from the degree that they utilized to be in the past, yet they are lowering, as well as this is something that we remain to see."

When asked by analysts about SolarEdge's Q3 assistance, Faier said the company anticipated to ship the same number of items as it had in Q2, while it anticipates revenues in the variety of US$ 810 million to US$ 840 million.

At the start of the week, power optimiser provider Ampt submitted two lawsuits against SolarEdge in the United States alleging license infringement on power optimiser innovation.

SolarEdge has rejected the insurance claim, referencing a previously judgment in its favour and also implicating Ampt of "looking around its cases to other courts".

"SolarEdge anticipates a vigorous defense of these new cases," it added.