Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

SolarEdge Technologies Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Revenues	3,110,279)	1,963,865)	1,459,271)	1,425,660)	937,237)
Cost of revenues	(2,265,631)	(1,334,547)	(997,912)	(946,322)	(618,001)
Gross profit	844,648)	629,318)	461,359)	479,338)	319,236)
Research and development	(289,814)	(219,633)	(163,123)	(121,351)	(82,245)
Sales and marketing	(159,680)	(119,000)	(95,985)	(87,984)	(68,307)
General and administrative	(112,496)	(82,196)	(63,119)	(49,361)	(29,264)
Goodwill impairment and other operating income (expenses), net	(116,538)	(1,350)	3,429)	(30,696)	—)
Operating expenses	(678,528)	(422,179)	(318,798)	(289,392)	(179,816)
Operating income	166,120)	207,139)	142,561)	189,946)	139,420)
Exchange rate gain (loss), net	(1,547)	(22,493)	33,065)	(10,342)	(4,725)
Interest income on marketable securities	10,551)	2,973)	3,750)	4,590)	5,629)
Interest expenses	(11,538)	(10,665)	(10,120)	(5,826)	(3,211)
Hedging	4,716)	9,417)	(4,013)	—)	—)
Interest income, net	1,402)	183)	67)	—)	—)
Other	(268)	670)	(1,644)	235)	10)
Financial income (expense), net	3,316)	(19,915)	21,105)	(11,343)	(2,297)
Other income	7,719)	—)	—)	—)	—)
Income before income taxes	177,155)	187,224)	163,666)	178,603)	137,123)
Income taxes	(83,376)	(18,054)	(23,344)	(33,646)	(9,077)
Net income	93,779)	169,170)	140,322)	144,957)	128,046)
Net loss attributable to non-controlling interests	—)	—)	—)	1,592)	787)
Net income attributable to SolarEdge Technologies, Inc.	93,779)	169,170)	140,322)	146,549)	128,833)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Download chart

Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	SolarEdge Technologies Inc. revenues increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	SolarEdge Technologies Inc. operating income increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	SolarEdge Technologies Inc. income before income taxes increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Net income attributable to SolarEdge Technologies, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	SolarEdge Technologies Inc. net income attributable to SolarEdge Technologies, Inc. increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

SolarEdge Technologies Inc. (NASDAQ:SEDG)

Income Statement