SolarEdge Technologies, Inc. reported revenues of $405.5 million for the first quarter ended March 31, 2021. GAAP net income was $30.1 million, and non-GAAP net income was $55.5 million. The company shipped 1.69 Gigawatts (AC) of inverters.
Revenues of $405.5 million
Revenues from solar products of $376.4 million
GAAP net income of $30.1 million
1.69 Gigawatts (AC) of inverters shipped
The Company provides guidance for the second quarter ending June 30, 2021 as follows: Revenues to be within the range of $445 million to $465 million, Non-GAAP gross margin expected to be within the range of 32% to 34%, Revenues from solar products to be within the range of $405 million to $420 million, Non-GAAP gross margin from sale of solar products expected to be within the range of 36% to 38%.
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