SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares are trading lower after it reported second-quarter FY24 results. Revenues of $265.4 million, beating the consensus of $262.3 million. Revenues from the solar segment stood at $241.2 million, down 75% Y/Y, in the quarter. Adjusted gross margin was 0.2% versus 32.7% in the prior year quarter. Adjusted operating loss stood at $114.3 million versus an adjusted operating income of $191.0 million in the same quarter last year. Adjusted EPS loss of $1.79 missed the consensus loss of $1.58. Operating cash flow was negative $44.8 million in the quarter. As of June 30, 2024, cash, cash equivalents, bank deposits, restricted bank deposits, and marketable securities totaled $165.3 million, net of debt. In the second quarter of 2024, the company bought back 247,468 shares worth around $17 million. Outlook: For the third quarter, the company sees ...