920MW of Inverters produce $325 Million Revenue
SolarEdge Technologies, Inc. announced its financial results for the fiscal fourth quarter and year ended June 30, 2015. Fourth quarter and full fiscal year 2015 highlights include: Record revenue for fiscal Q4 2015 of $98.4 million, up 13.9% from the prior quarter and 120.8% from fiscal Q4 2014. Record revenue for fiscal year 2015 of $325.1 million, representing a 144.0% year-over-year growth; GAAP gross margin of 28.7% for fiscal Q4 2015 and 25.2% for fiscal year 2015; GAAP net income for fiscal Q4 2015 of $9.3 million, and net income for fiscal year 2015 of $21.1 million; and 284MW of inverters shipped for fiscal Q4 2015 and 920MW for fiscal year 2015.
â€œWe completed fiscal 2015 with strong execution on all fronts. We successfully grew our business with our existing and new customers and generated record revenue for the fourth fiscal quarter and the entire fiscal year. Our increased manufacturing capacity coupled with continued cost reduction, brought gross margins to a quarterly and annual record. These revenue and cost initiatives generated strong bottom line results; consecutive profits in each quarter of fiscal 2015 and strong cash flow from operations,â€ said Guy Sella, Founder, Chairman and CEO of SolarEdge.
The Company also provides guidance for the first fiscal quarter of 2016 as follows: Revenues to be within the range of $108 million to $112 million; and Gross margins to be within the range of 27% to 29%.