v3.24.0.1

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION | NOTE 27: SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION
a. | Segment Information:
Following the discontinuation of the Critical Power segment in June 2022, the Company operated in four different operating segments: Solar, Energy Storage, e-Mobility and Automation Machines. In October 2023, the Company decided to discontinue its LCV activity. The Company's Chief Executive Officer, who is the chief operating decision maker (“CODM”), makes resource allocation decisions and assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated information about revenues and contributed profit by the operating segments. The Company does not allocate to its operating segments revenue recognized due to advance payments received for performance obligations that extend for a period greater than one year (“financing component”), related to Accounting Standard Codification 606, “Revenue from Contracts with Customers” (ASC 606). Segment profit (loss) is comprised of gross profit for the segment less operating expenses that do not include amortization and impairment of purchased intangible assets, stock based compensation expenses, restructuring charges, discontinued activity charges and certain other items. The Company manages its assets on a group basis, not by segments, as many of its assets are shared or co-mingled. The Company’s CODM does not regularly review asset information by segments and, therefore, the Company does not report asset information by segment. The Company identified two operating segments as reportable – the Solar segment and the Energy Storage segment. The other operating segments are insignificant individually and therefore their results are presented together under “All other”. The Solar segment includes the design, development, manufacturing, and sales of an intelligent inverter solution designed to maximize power generation at the individual PV module level and batteries for PV applications. The Solar segment solution consists mainly of the Company’s power optimizers, inverters, batteries and cloud‑based monitoring platform. The Energy Storage segment includes the design, development, manufacturing, and sales of high-energy, high-power, lithium-ion cells and racks and containerized battery systems for C&I and Utility markets. The Energy Storage segment provides purpose-built components and solutions, hardware and software, as well as pre and post sales engineering support to design, build, and manage battery and system solutions according to the customer’s use cases and mission profiles. The “All other” category includes the e-Mobility products, automated machines and UPS products (in prior periods). 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 | )
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 |
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
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 |
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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration