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SolarEdge's Q1 Results Cast Shadow With Revenue Decline, But CEO Remains Optimistic

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares are trading lower after it reported first-quarter FY24 results. Revenues of $204.4 million, beating the consensus of $196.0 million. Revenues from the solar segment stood at $190.1 million, down 79% Y/Y, in the quarter. Adjusted gross margin was negative (6.5)% versus a positive margin of 32.6% in the prior year quarter. Adjusted operating loss stood at $(122.5) million versus an adjusted operating income of $183.8 million in the same quarter last year. Adjusted EPS ...