MILPITAS, California — November 5, 2025. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the third quarter ended September 30, 2025.

“We’re making steady progress in our turnaround, with three consecutive quarters of revenue growth and improving margins, and we’re not done yet,” said Shuki Nir, CEO of SolarEdge. “With energy taking an increasingly vital role in powering the global economy, we believe that SolarEdge is positioned for continued growth, sustained profitability, and leadership in smart energy solutions.”

Third Quarter 2025 Summary

The Company reported revenues of $340.2[1] million, up 18% from $289.4¹ million in the prior quarter.

Non-GAAP revenues[2] were $339.7 million, up 21% from $281.0 million the prior quarter.

During the quarter approximately 92.7 thousand inverters, 2.95 million optimizers and 230 MWh of batteries for PV applications were recognized as revenue.

The Company shipped 1,471 MW (AC) of inverters in the quarter and 269 MWh of batteries for PV applications during the quarter.[3]

GAAP gross margin was 21.2 %¹, compared to 11.1%¹ in the prior quarter.

Non-GAAP gross margin² was 18.8%, compared to 13.1% in the prior quarter. Tariffs had a negative impact of approximately 2% in the third quarter.

GAAP operating expenses were $107.3¹ million, compared to $147.6¹ million in the prior quarter.

Non-GAAP operating expenses² were $87.7 million, compared to $85.2 million in the prior quarter.

GAAP operating loss was $35.2¹ million, compared to $115.5¹ million in the prior quarter.

Non-GAAP operating loss² was $23.8 million, compared to $48.3 million in the prior quarter.

GAAP net loss was $50.1 million¹, compared to $124.7¹ million in the prior quarter.

Non-GAAP net loss² was $18.3 million, compared to $47.7 million in the prior quarter.

GAAP net loss per share was $0.84¹, compared to a GAAP net loss per share of $2.13¹ in the prior quarter.

Non-GAAP net loss per share² was $0.31, compared to a Non-GAAP net loss per share of $0.81 in the prior quarter.

Cash generated in operating activities was $25.6 million, compared with $7.8 million used by operating activities in the prior quarter.

Free cash flow² generated was $22.8 million, compared with free cash flow used of $9.1 million in the prior quarter.

As of September 30, 2025, our cash and investments portfolio, net of debt, grew by $77.0 million to $208.8 million, compared to $131.8 million as of June 30, 2025.

Outlook for the Fourth Quarter 2025

The Company also provides guidance for the fourth quarter ending December 31, 2025 as follows:

• Revenues to be within the range of $310 million to $340 million;
• Non-GAAP gross margin* expected to be within the range of 19% to 23%, including approximately 2% of tariff impact;
• Non-GAAP operating expenses* to be within the range of $85 million to $90 million.

*Non-GAAP gross margin and Non-GAAP operating expenses are non-GAAP financial measures, and these forward-looking measures have not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Non-GAAP gross margin and Non-GAAP operating expenses are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the SEC.

Conference Call

The Company will host a conference call to discuss its results for the third quarter ended September 30, 2025 at 8:00 a.m. ET on Wednesday, November 5, 2025. The call will be available, live, to interested parties by dialing +1 800-225-9448. For international callers, please dial +1 203-518-9708. The Conference ID is SEDG. To avoid a delay in connecting to the call, please dial in 10 minutes prior to the start time. A live webcast will also be available in the Investors Relations section of the Company’s website at: http://investors.solaredge.com

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A replay of the webcast will be available in the Investor Relations section of the Company’s web site approximately two hours after the conclusion of the call and will remain available for approximately 30 calendar days.

[1] Includes impairments, write offs and discontinued operation. See financials and reconciliation for details.

[2] Non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.

[3] Starting in Q4 2025, we are going to be reporting on the key performance metrics consisting of i) inverters recognized as revenue, ii) optimizers recognized as revenue, and iii) mWh of batteries recognized as revenue and will stop reporting on what we no longer consider to be our key performance metrics of i) inverters shipped, ii) optimizers shipped, iii) mWh of batteries shipped, and iv) Megawatts shipped because we believe revenue recognition is a more accurate measurement than products shipped, for the purpose of assessing the Company’s actual earnings rather than mere operational activity and due to our reducing the variety of SKUs in a manner in which we would no longer be able to track Megawatts shipped as a metric.