Exhibit 99.1



SolarEdge Announces Fourth Quarter
and Full Year 2018 Financial Results
 
FREMONT, Calif. — February 20, 2019
. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the fourth quarter and year ended December 31, 2018.
 
Fourth Quarter 2018 Highlights
 

·
Total revenues of $263.7 million
 

·
GAAP gross margin of 30.2%
 

·
GAAP net diluted EPS of $0.27
 

·
Non-GAAP net diluted EPS of $0.63
 

·
1.1 Gigawatts (AC) of inverters shipped
 

·
Revenues from solar products of $243.4 million


·
Non-GAAP gross margin from sale of solar products of 32.8%

Full Year 2018 Highlights
 

·
Total revenues of $937.2 million
 

·
GAAP gross margin of 34.1%
 

·
GAAP net diluted EPS of $2.69
 

·
Non-GAAP net diluted EPS of $3.17
 

·
3.9 Gigawatts (AC) of inverters shipped
 

·
Revenues from solar products of $914.3 million


·
Non-GAAP gross margin from sale of solar products of 35.4%

 “We are happy to report another record revenue quarter and a very strong year in which we continued to take market share,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “In addition to the growth and strong profitability of our solar business, this quarter we continued to lay the foundations for our non-solar future growth with the acquisition of Kokam, a leading provider of lithium-ion batteries and the post quarter acquisition of a majority holding of S.M.R.E, a provider of innovative integrated powertrain technology and electronics for the e-mobility market. I am confident that these acquisitions, which will initially dilute our margins and EPS, will over time and with our investment, innovation and operational excellence, become a meaningful part of the SolarEdge success.”

Fourth Quarter 2018 Summary
 
The Company reported record revenues of $263.7 million, up 11% from $236.6 million in the prior quarter and up 39% from $189.3 million year over year.


 
GAAP gross margin was 30.2%, down from 33.0% in the prior quarter and down from 37.5% year over year.
 
Non-GAAP gross margin was 30.9%, down from 33.6% in the prior quarter and down from 37.9% year over year.
 
GAAP operating expenses were $55.3 million, up 26% from $43.9 million in the prior quarter and up 52% from $36.4 million year over year.
 
Non-GAAP operating expenses were $45.1 million, up 22% from $37.0 million in the prior quarter and up 42% from $31.7 million year over year.
 
GAAP operating income was $24.4 million, down 28% from $34.0 million in the prior quarter and down 29% from $34.6 million year over year.
 
Non-GAAP operating income was $36.4 million, down 14% from $42.5 million in the prior quarter and down 9% from $40.0 million year over year
 
GAAP net income was $12.9 million, down 72% from $45.6 million in the prior quarter and down 34% from $19.5 million year over year.
 
Non-GAAP net income was $31.5 million, down 26% from $42.7 million in the prior quarter and down 24% from $41.2 million year over year.
 
GAAP net diluted earnings per share (“EPS”) was $0.27, down from $0.95 in the prior quarter and down from $0.42 year over year.
 
Non-GAAP net diluted EPS was $0.63, down from $0.86 in the prior quarter and down from $0.85 year over year.
 
Cash flow from operating activities was $46.9 million, up from $34.3 million in the prior quarter and up from $45.8 million year over year.
 
As of December 31, 2018, cash, cash equivalents, restricted cash, bank deposit and marketable securities totaled $392.2 million, compared to $453.2 million on September 30, 2018 following a payment of $101.2 million for the acquisition of Kokam shares.
 
Full Year 2018 Summary
 
Total revenues of $937.2 million, up 54% from the prior year.
 
GAAP gross margin was 34.1%, down from 35.4% in the prior year.
 
GAAP operating income was $139.9 million, up 54% from $91.1 million in the prior year.


 
GAAP net income was $128.8 million, up 53% from $84.2 million in the prior year.
 
Non-GAAP net income was $157.3 million, up 37% from $115.0 million in the prior year.
 
GAAP net diluted earnings per share (“EPS”) was $2.69, up from $1.85 in the prior year.
 
Non-GAAP net diluted EPS was $3.17, up from $2.43 in the prior year.
 
Cash flow from operating activities of $189.1 million, up from $136.7 million in the prior year.
 
Outlook for the First Quarter 2019
 
The Company also provides guidance for the first quarter ending March 31, 2019 as follows:


·
Revenues to be within the range of $260 million to $270 million

·
Gross margins expected to be within the range of 30% to 32%

·
Revenues from solar products to be within the range of $245 million to $255 million

·
Gross margins from sale of solar products expected to be within the range of 32% to 34%
 
Conference Call
 
The Company will host a conference call to discuss these results at 4:30 P.M. ET on Wednesday, February 20, 2019. The call will be available, live, to interested parties by dialing 800-682-0995. For international callers, please dial +1 334-323-0505. The Conference ID number is 3109753.  A live webcast will also be available in the Investors Relations section of the Company’s website at: http://investors.solaredge.com
 
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.
 
About SolarEdge
 
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, and grid services solutions. SolarEdge is online at solaredge.com


 
 
Use of Non-GAAP Financial Measures
 
The Company has presented certain non-GAAP financial measures in this release, such as non-GAAP net income, non-GAAP net diluted EPS, non-GAAP gross margin,  non-GAAP operating expenses, non-GAAP operating income and non-GAAP gross margin from sale of solar products. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States, or GAAP. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this release. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.
 
The Company uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. The Company believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.
 
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include information, among other things, concerning: our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory environment; general economic conditions; potential growth opportunities; and the effects of competition. These forward-looking statements are often characterized by the use of words such as “anticipate,” “believe,” “could,” “seek,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or similar expressions and the negative or plural of those terms and other like terminology.

Forward-looking statements are only predictions based on our current expectations and our projections about future events.  These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Given these factors, you should not place undue reliance on these forward-looking statements.  These factors include, but are not limited to, the matters discussed in the section entitled “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2017, filed on February 20, 2018, Current Reports on Form 8-K and other reports filed with the SEC. All information set forth in this release is as of February 20, 2019.  The Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Contacts
SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
+1 510-498-3263
investors@solaredge.com

Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
+1 617-542-6180
investors@solaredge.com




SOLAREDGE TECHNOLOGIES INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

   
Three months ended
December 31,
   
Year ended December 31,
 
   
2018
   
2017
   
2018
   
2017
 
   
Unaudited
       
                         
Revenues
 
$
263,670
   
$
189,340
   
$
937,237
   
$
607,045
 
Cost of revenues
   
183,959
     
118,370
     
618,001
     
392,279
 
                                 
Gross profit
   
79,711
     
70,970
     
319,236
     
214,766
 
                                 
Operating expenses:
                               
                                 
Research and development, net
   
24,710
     
16,420
     
82,245
     
54,966
 
Sales and marketing
   
19,210
     
14,079
     
68,307
     
50,032
 
General and administrative
   
11,402
     
5,900
     
28,829
     
18,682
 
                                 
Total operating expenses
   
55,322
     
36,399
     
179,381
     
123,680
 
                                 
Operating income
   
24,389
     
34,571
     
139,855
     
91,086
 
                                 
Other expenses
   
435
             
435
         
Financial expenses (income), net
   
(288
)
   
(1,487
)
   
2,297
     
(9,158
)
                                 
Income before taxes on income
   
24,242
     
36,058
     
137,123
     
100,244
 
                                 
Taxes on income (tax benefit)
   
12,093
     
16,556
     
9,077
     
16,072
 
                                 
Net income
 
$
12,149
   
$
19,502
   
$
128,046
   
$
84,172
 
Net loss attributable to non-controlling interests
   
787
     
-
     
787
     
-
 
Net income attributable to Solaredge Technologies Inc.
 
$
12,936
   
$
19,502
   
$
128,833
   
$
84,172
 




SOLAREDGE TECHNOLOGIES INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

   
December 31,
 
    2018    
2017
 
CURRENT ASSETS:
           
Cash and cash equivalents
 
$
191,633
   
$
163,163
 
Short-term bank deposits
   
6,001
     
-
 
Restricted cash
   
1,628
     
1,516
 
Marketable securities
   
118,680
     
77,264
 
Trade receivables, net
   
173,579
     
109,528
 
Prepaid expenses and other current assets
   
45,073
     
42,223
 
Inventories
   
141,519
     
82,992
 
Total current assets
   
678,113
     
476,686
 
                 
LONG-TERM ASSETS:
               
   Marketable securities
   
74,256
     
103,120
 
    Property, plant and equipment , net
   
119,329
     
51,182
 
   Deferred tax assets, net
   
14,698
     
8,340
 
   Intangible assets, net
   
38,504
     
1,115
 
   Goodwill
   
34,874
     
-
 
   Other non-current assets
   
4,698
     
862
 
 Total long term assets
   
286,359
     
164,619
 
                 
Total assets
 
$
964,472
   
$
641,305
 
             
CURRENT LIABILITIES:
           
Trade payables, net
 
$
107,079
   
$
69,488
 
Employees and payroll accruals
   
29,053
     
22,544
 
Current maturities of bank loans
   
16,639
     
-
 
Warranty obligations
   
28,868
     
14,785
 
Deferred revenues
   
14,351
     
2,559
 
Accrued expenses and other current liabilities
   
29,728
     
20,378
 
Total current liabilities
   
225,718
     
129,754
 
                 
LONG-TERM LIABILITIES:
               
Bank loans
   
3,510
     
-
 
Warranty obligations
   
92,958
     
64,026
 
Deferred revenues
   
60,670
     
31,453
 
Deferred tax liabilities, net
   
1,499
     
-
 
Other non-current liabilities
   
9,391
     
18,605
 
Total long-term liabilities
   
168,028
     
114,084
 
                 
STOCKHOLDERS’ EQUITY:
               
Share capital
   
5
     
4
 
Additional paid-in capital
   
371,794
     
331,902
 
Accumulated other comprehensive loss
   
(524
)
   
(611
)
Retained earnings (accumulated deficit)
   
191,133
     
66,172
 
Total Solaredge Technologies Inc. stockholders’ equity
   
562,408
     
397,467
 
Non-controlling interests
   
8,318
     
-
 
Total stockholders’ equity
   
570,726
     
397,467
 
                 
Total liabilities and stockholders’ equity
 
$
964,472
   
$
641,305
 


 
SOLAREDGE TECHNOLOGIES INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

   
Year ended December 31,
 
   
2018
   
2017
 
             
Cash flows provided by operating activities:
           
Net income
 
$
128,046
   
$
84,172
 
Adjustments to reconcile net income to net cash provided by operating activities:
               
Depreciation of property, plant and equipment
   
12,441
     
7,011
 
Amortization of intangible assets
   
1,193
     
144
 
Amortization of premium and accretion of discount on available-for-sale marketable securities
   
1,241
     
2,061
 
Stock-based compensation
   
30,618
     
17,564
 
Capital loss from disposal of property
   
445
     
-
 
Realized loss from sale of available-for-sale marketable securities
   
137
     
-
 
Realized gain from cash flow hedge
   
(31
)
   
(994
)
Changes in assets and liabilities:
               
Inventories
   
(21,194
)
   
(15,690
)
Prepaid expenses and other assets
   
(2,712
)
   
(20,943
)
Trade receivables, net
   
(60,514
)
   
(38,139
)
Deferred tax assets and liabilities, net
   
(7,092
)
   
(5,455
)
Trade payables, net
   
31,482
     
35,455
 
Employees and payroll accruals
   
4,583
     
9,394
 
Warranty obligations
   
41,877
     
20,436
 
Deferred revenues
   
37,041
     
14,106
 
Accrued expenses, non-current tax liabilities and other liabilities
   
(8,484
)
   
27,543
 
                 
Net cash provided by operating activities
   
189,077
     
136,665
 
                 
Cash flows from investing activities:
               
Business combinations, net of cash acquired
   
(94,735
)
   
-
 
Purchase of property, plant and equipment
   
(38,608
)
   
(21,382
)
Purchase of intangible assets
   
-
     
-
 
Investment in short term bank deposits
   
(6,001
)
   
-
 
Investment in available-for-sale marketable securities
   
(142,627
)
   
(143,675
)
Proceed from sales and maturities of available-for-sale marketable securities
   
129,345
     
80,269
 
                 
Net cash used in investing activities
 
$
(152,626
)
 
$
(84,788
)
                 
Cash flows from financing activities:
               
Repayment of bank loan
   
(3,786
)
   
-
 
Proceeds from issuance of shares under stock purchase plan and upon exercise of stock-based awards
   
10,021
     
7,240
 
Change in noncontrolling interests
   
(14,190
)
   
-
 
                 
Net cash provided by financing activities
   
(7,955
)
   
7,240
 
                 
Increase (decrease) in cash, cash equivalents and restricted cash
   
28,496
     
59,117
 
Cash, cash equivalents and restricted cash at the beginning of the period
   
164,679
     
105,580
 
Effect of exchange rate differences on cash, cash equivalents and restricted cash
   
86
     
(18
)
                 
Cash, cash equivalents and restricted cash at the end of the period
 
$
193,261
   
$
164,679
 




SOLAREDGE TECHNOLOGIES INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In thousands, except gross profit and per share data)
(Unaudited)

   
Reconciliation of GAAP to Non-GAAP Gross Profit
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Gross profit (GAAP)
   
79,711
     
77,982
     
70,970
     
319,236
     
214,766
 
Stock-based compensation
   
1,323
     
1,127
     
703
     
4,342
     
2,251
 
Cost of product adjustment
   
398
     
208
     
----
     
606
     
----
 
Intangible assets amortization
   
----
     
193
     
----
     
193
     
----
 
Gross profit (Non-GAAP)
   
81,432
     
79,510
     
71,673
     
324,377
     
217,017
 

   
Reconciliation of GAAP to Non-GAAP Gross Margin
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Gross margin (GAAP)
   
30.2
%
   
33.0
%
   
37.5
%
   
34.1
%
   
35.4
%
Stock-based compensation
   
0.5
%
   
0.4
%
   
0.4
%
   
0.4
%
   
0.3
%
Cost of product adjustment
   
0.2
%
   
0.1
%
   
0.0
%
   
0.1
%
   
0.0
%
Intangible assets amortization
   
0.0
%
   
0.1
%
   
0.0
%
   
0.0
%
   
0.0
%
Gross margin (Non-GAAP)
   
30.9
%
   
33.6
%
   
37.9
%
   
34.6
%
   
35.7
%

   
Reconciliation of GAAP to Non-GAAP Operating expenses
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Operating expenses (GAAP)
   
55,322
     
43,945
     
36,399
     
179,381
     
123,680
 
Stock-based compensation R&D
   
(3,230
)
   
(2,988
)
   
(1,795
)
   
(11,205
)
   
(5,703
)
Stock-based compensation S&M
   
(2,564
)
   
(2,250
)
   
(1,714
)
   
(9,112
)
   
(5,387
)
Stock-based compensation G&A
   
(1,574
)
   
(1,585
)
   
(1,170
)
   
(5,959
)
   
(4,224
)
Intangible assets amortization - R&D
   
(652
)
   
(110
)
   
----
     
(762
)
   
----
 
Intangible assets amortization - S&M
   
(101
)
   
(29
)
   
----
     
(130
)
   
----
 
Acquisition related expenses
   
(2,140
)
   
----
     
----
     
(2,140
)
   
----
 
Operating expenses (Non-GAAP)
   
45,061
     
36,983
     
31,720
     
150,073
     
108,366
 




   
Reconciliation of GAAP to Non-GAAP Operating income
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Operating income (GAAP)
   
24,389
     
34,037
     
34,571
     
139,855
     
91,086
 
Cost of product adjustment
   
398
     
208
     
----
     
606
     
----
 
Stock-based compensation
   
8,691
     
7,950
     
5,382
     
30,618
     
17,565
 
Intangible assets amortization
   
753
     
332
     
----
     
1,085
     
----
 
Acquisition related expenses
   
2,140
     
----
     
----
     
2,140
     
----
 
Operating income (Non-GAAP)
   
36,371
     
42,527
     
39,953
     
174,304
     
108,651
 

   
Reconciliation of GAAP to Non-GAAP Financial expenses (income), net
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Financial expenses (income), net (GAAP)
   
(288
)
   
689
     
(1,487
)
   
2,297
     
(9,158
)
Non cash interest
   
(769
)
   
(640
)
   
----
     
(2,489
)
   
----
 
Intangible assets amortization
   
528
     
----
     
----
     
528
     
----
 
Financial expenses (income), net (Non-GAAP)
   
(529
)
   
49
     
(1,487
)
   
336
     
(9,158
)

   
Reconciliation of GAAP to Non-GAAP Other expenses
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Other expenses (GAAP)
   
435
     
----
     
----
     
435
     
----
 
Fixed assets disposal
   
(435
)
   
----
     
----
     
(435
)
   
----
 
Other expenses (income) (Non-GAAP)
   
----
     
----
     
----
     
----
     
----
 

   
Reconciliation of GAAP to Non-GAAP Tax on income (Tax benefit)
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Tax on income (Tax benefit) (GAAP)
   
12,093
     
(12,295
)
   
16,556
     
9,077
     
16,072
 
Deferred tax asset
   
2,304
     
1,771
     
2,392
     
7,093
     
5,456
 
Transition tax of foreign earnings
   
(8,189
)
   
10,305
     
(18,735
)
   
1,296
     
(18,735
)
Tax on income (Tax benefit) (Non-GAAP)
   
6,208
     
(219
)
   
213
     
17,466
     
2,793
 




   
Reconciliation of GAAP to Non-GAAP Net income attributable to Solaredge Technologies Inc.
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Net income attributable to Solaredge Technologies Inc. (GAAP)
   
12,936
     
45,643
     
19,502
     
128,833
     
84,172
 
Cost of product adjustment
   
398
     
208
     
----
     
606
     
----
 
Stock-based compensation
   
8,691
     
7,950
     
5,382
     
30,618
     
17,565
 
Intangible assets amortization
   
225
     
332
     
----
     
557
     
----
 
Acquisition related expenses
   
2,140
     
----
     
----
     
2,140
     
----
 
Non cash interest
   
769
     
640
     
----
     
2,489
     
----
 
Fixed Assets disposal
   
435
     
----
     
----
     
435
     
----
 
Deferred tax asset
   
(2,304
)
   
(1,771
)
   
(2,392
)
   
(7,093
)
   
(5,456
)
Transition tax of foreign earnings
   
8,189
     
(10,305
)
   
18,735
     
(1,296
)
   
18,735
 
Net income attributable to Solaredge Technologies Inc. (Non-GAAP)
   
31,479
     
42,697
     
41,227
     
157,289
     
115,016
 

   
Reconciliation of GAAP to Non-GAAP Net basic EPS
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Net basic earnings per share (GAAP)
   
0.28
     
1.00
     
0.45
     
2.85
     
1.99
 
Cost of product adjustment
   
0.01
     
0.01
     
----
     
0.01
     
----
 
Stock-based compensation
   
0.19
     
0.17
     
0.12
     
0.68
     
0.42
 
Intangible assets amortization
   
0.01
     
0.01
     
----
     
0.01
     
----
 
Acquisition related expenses
   
0.04
     
----
     
----
     
0.05
     
----
 
Non cash interest
   
0.02
     
0.02
     
----
     
0.05
     
----
 
Fixed Assets disposal
   
0.01
     
----
     
----
     
0.01
     
----
 
Deferred tax asset
   
(0.05
)
   
(0.039
)
   
(0.05
)
   
(0.15
)
   
(0.13
)
Transition tax of foreign earnings
   
0.18
     
(0.226
)
   
0.43
     
(0.03
)
   
0.44
 
Net basic earnings per share (Non-GAAP)
   
0.69
     
0.94
     
0.95
     
3.48
     
2.72
 




   
Reconciliation of GAAP to Non-GAAP Net diluted EPS
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Net diluted earnings per share (GAAP)
   
0.27
     
0.95
     
0.42
     
2.69
     
1.85
 
Cost of product adjustment
   
0.01
     
----
     
----
     
0.01
     
----
 
Stock-based compensation
   
0.16
     
0.13
     
0.10
     
0.53
     
0.30
 
Intangible assets amortization
   
0.01
     
0.01
     
----
     
0.01
     
----
 
Acquisition related expenses
   
0.04
     
----
     
----
     
0.04
     
----
 
Non cash interest
   
0.01
     
0.01
     
----
     
0.05
     
----
 
Fixed Assets disposal
   
0.01
     
----
     
----
     
0.01
     
----
 
Deferred tax asset
   
(0.04
)
   
(0.03
)
   
(0.05
)
   
(0.14
)
   
(0.12
)
Transition tax of foreign earnings
   
0.16
     
(0.21
)
   
0.38
     
(0.03
)
   
0.40
 
Net diluted earnings per share (Non-GAAP)
   
0.63
     
0.86
     
0.85
     
3.17
     
2.43
 

   
Reconciliation of GAAP to Non-GAAP No. of shares used in Net diluted EPS
 
   
Three months ended
   
12 months ended
 
   
December 31, 2018
   
September 30, 2018
   
December 31, 2017
   
December 31, 2018
   
December 31, 2017
 
Number of shares used in computing net diluted earnings per share (GAAP)
   
47,637,478
     
48,281,240
     
46,876,328
     
47,980,002
     
45,425,307
 
Stock-based compensation
   
2,204,179
     
1,463,633
     
1,375,527
     
1,636,127
     
1,907,423
 
Number of shares used in computing net diluted earnings per share (Non-GAAP)
   
49,841,657
     
49,744,873
     
48,251,855
     
49,616,129
     
47,332,730
 








The following information was filed by Solaredge Technologies Inc (SEDG) on Wednesday, February 20, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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