SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Tables)
|
12 Months Ended |
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 |
| |
|
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.
|