v3.24.0.1

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Reportable Segments and Operating Income | The following tables presents information on reportable segments profit (loss) for the period presented:
|  | Year ended December 31, 2023 |
|  | Solar |  |  | Energy Storage |  |  | All other |
Revenues |  | $ | 2,815,539 |  |  | $ | 83,717 |  |  | $ | 76,438 |
Cost of revenues |  |  | 1,994,578 |  |  |  | 112,518 |  |  |  | 75,469 |
Gross profit (loss) |  |  | 820,961 |  |  |  | (28,801 | ) |  |  | 969 |
Research and development |  |  | 226,776 |  |  |  | 17,370 |  |  |  | 9,403 |
Sales and marketing |  |  | 126,207 |  |  |  | 3,539 |  |  |  | 2,654 |
General and administrative |  |  | 103,461 |  |  |  | 10,409 |  |  |  | 3,286 |
Segments profit (loss) |  | $ | 364,517 |  |  | $ | (60,119 | ) |  | $ | (14,374 | )
|  | Year ended December 31, 2022 |
|  | Solar |  |  | Energy Storage |  |  | All other |
Revenues |  | $ | 2,921,175 |  |  | $ | 76,325 |  |  | $ | 112,165 |
Cost of revenues |  |  | 2,050,147 |  |  |  | 63,752 |  |  |  | 118,171 |
Gross profit (loss) |  |  | 871,028 |  |  |  | 12,573 |  |  |  | (6,006 | )
Research and development |  |  | 196,381 |  |  |  | 15,108 |  |  |  | 13,908 |
Sales and marketing |  |  | 118,154 |  |  |  | 4,095 |  |  |  | 5,592 |
General and administrative |  |  | 69,631 |  |  |  | 7,233 |  |  |  | 5,768 |
Segments profit (loss) |  | $ | 486,862 |  |  | $ | (13,863 | ) |  | $ | (31,274 | )
|  | Year ended December 31, 2021 |
|  | Solar |  |  | Energy Storage |  |  | All other |
Revenues |  | $ | 1,787,280 |  |  | $ | 83,430 |  |  | $ | 92,737 |
Cost of revenues |  |  | 1,136,896 |  |  |  | 61,099 |  |  |  | 108,483 |
Gross profit (loss) |  |  | 650,384 |  |  |  | 22,331 |  |  |  | (15,746 | )
Research and development |  |  | 143,173 |  |  |  | 10,289 |  |  |  | 20,217 |
Sales and marketing |  |  | 85,309 |  |  |  | 3,698 |  |  |  | 6,232 |
General and administrative |  |  | 53,156 |  |  |  | 5,841 |  |  |  | 7,695 |
Segments profit (loss) |  | $ | 368,746 |  |  | $ | 2,503 |  |  | $ | (49,890 | )
Schedule of Reportable Segments Reconciliation to Consolidated Revenues | The following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Solar segment revenues |  | $ | 2,815,539 |  |  | $ | 2,921,175 |  |  | $ | 1,787,280 |
Energy Storage segment revenues |  |  | 83,717 |  |  |  | 76,325 |  |  |  | 83,430 |
All other segment revenues |  |  | 76,438 |  |  |  | 112,165 |  |  |  | 92,737 |
Revenues from financing component |  |  | 834 |  |  |  | 614 |  |  |  | 418 |
Consolidated revenues |  | $ | 2,976,528 |  |  | $ | 3,110,279 |  |  | $ | 1,963,865 |
The following table presents information on reportable segments reconciliation to consolidated operating income for the periods presented:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Solar segment profit |  | $ | 364,517 |  |  | $ | 486,862 |  |  | $ | 368,746 |
Energy Storage segment profit (loss) |  |  | (60,119 | ) |  |  | (13,863 | ) |  |  | 2,503 |
All other segment loss |  |  | (14,374 | ) |  |  | (31,274 | ) |  |  | (49,890 | )
Segments operating profit |  |  | 290,024 |  |  |  | 441,725 |  |  |  | 321,359 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  |  |
Stock based compensation expenses |  |  | (149,945 | ) |  |  | (145,539 | ) |  |  | (102,593 | )
Amortization and depreciation of acquired assets |  |  | (7,969 | ) |  |  | (9,478 | ) |  |  | (10,812 | )
Impairment of goodwill and long-lived assets |  |  | (30,790 | ) |  |  | (119,141 | ) |  |  | - |
Restructuring and other exit activities |  |  | (60,189 | ) |  |  | (4,314 | ) |  |  | - |
Other unallocated income (expenses), net |  |  | (926 | ) |  |  | 2,867 |  |  |  | (815 | )
Consolidated operating income |  | $ | 40,205 |  |  | $ | 166,120 |  |  | $ | 207,139 |
Summary of Revenues Within Geographic Areas |
b. | Revenues by geographic, based on customers’ location:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 759,611 |  |  | $ | 1,133,798 |  |  | $ | 786,019 |
Europe(*) |  |  | 661,542 |  |  |  | 528,197 |  |  |  | 297,684 |
Germany |  |  | 692,047 |  |  |  | 449,160 |  |  |  | 191,066 |
Netherlands |  |  | 326,314 |  |  |  | 382,226 |  |  |  | 222,103 |
Italy |  |  | 223,943 |  |  |  | 330,565 |  |  |  | 181,644 |
Rest of the world |  |  | 313,071 |  |  |  | 286,333 |  |  |  | 285,349 |
Total revenues |  | $ | 2,976,528 |  |  | $ | 3,110,279 |  |  | $ | 1,963,865 |
(*) Except for Germany, Netherlands and Italy
Summary of Revenues By Product Family |
c. | Revenues by type:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Inverters |  | $ | 1,374,026 |  |  | $ | 1,137,142 |  |  | $ | 828,101 |
Optimizers |  |  | 902,411 |  |  |  | 1,135,040 |  |  |  | 828,542 |
Batteries for PV applications |  |  | 378,275 |  |  |  | 429,119 |  |  |  | 19,531 |
e-Mobility components and telematics |  |  | 68,425 |  |  |  | 94,446 |  |  |  | 68,946 |
Communication |  |  | 32,945 |  |  |  | 72,812 |  |  |  | 24,111 |
Others |  |  | 220,446 |  |  |  | 241,720 |  |  |  | 194,634 |
Total revenues |  | $ | 2,976,528 |  |  | $ | 3,110,279 |  |  | $ | 1,963,865 |
Schedule of Long-lived Assets By Geographic Region |
d. | Long-lived assets by geographic location:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
Israel |  | $ | 364,438 |  |  | $ | 333,740 |
Korea |  |  | 199,422 |  |  |  | 201,731 |
United States |  |  | 47,083 |  |  |  | 12,030 |
China |  |  | 38,037 |  |  |  | 34,230 |
Europe |  |  | 23,478 |  |  |  | 21,282 |
Other |  |  | 6,288 |  |  |  | 3,710 |
Total long-lived assets(*) |  | $ | 678,746 |  |  | $ | 606,723 |
(*) Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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