| Schedule of Reportable Segments and Operating Income |
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Revenues
|
|
$
|
346,245
|
|
|
$
|
289,429
|
|
|
$
|
656,746
|
|
|
$
|
508,909
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct costs of goods
|
|
|
140,249
|
|
|
|
171,307
|
|
|
|
326,446
|
|
|
|
302,236
|
|
|
Salaries1
|
|
|
117,603
|
|
|
|
103,665
|
|
|
|
228,908
|
|
|
|
226,110
|
|
|
Inventory costs
|
|
|
30,312
|
|
|
|
(1,809
|
)
|
|
|
38,954
|
|
|
|
110
|
|
|
Shipment and logistics
|
|
|
17,123
|
|
|
|
7,378
|
|
|
|
28,847
|
|
|
|
18,512
|
|
|
Warranty
|
|
|
16,566
|
|
|
|
11,821
|
|
|
|
6,178
|
|
|
|
11,375
|
|
|
Depreciation and amortization
|
|
|
5,746
|
|
|
|
16,028
|
|
|
|
11,687
|
|
|
|
29,131
|
|
|
Directly related overhead costs
|
|
|
16,982
|
|
|
|
14,945
|
|
|
|
31,807
|
|
|
|
26,633
|
|
|
Other2
|
|
|
17,710
|
|
|
|
77,570
|
|
|
|
55,008
|
|
|
|
108,856
|
|
|
Financial (income) expense, net
|
|
|
12,378
|
|
|
|
7,323
|
|
|
|
13,415
|
|
|
|
(2,745
|
)
|
|
Income taxes
|
|
|
2,329
|
|
|
|
5,657
|
|
|
|
3,615
|
|
|
|
11,383
|
|
|
Net loss from equity method investments
|
|
|
-
|
|
|
|
288
|
|
|
|
-
|
|
|
|
575
|
|
|
Net loss
|
|
$
|
(30,753
|
)
|
|
$
|
(124,744
|
)
|
|
$
|
(88,119
|
)
|
|
$
|
(223,267
|
)
|
1 Including stock-based compensation expenses.
2 Represents indirect costs of goods, consultants and sub-contractors, marketing, bad debt, impairments and dispositions.
|
| Schedule of Revenues By Product Family |
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
United States
|
|
$
|
154,858
|
|
|
$
|
185,126
|
|
|
$
|
312,952
|
|
|
$
|
317,230
|
|
|
Europe
|
|
|
154,459
|
|
|
|
65,258
|
|
|
|
267,970
|
|
|
|
117,760
|
|
|
International markets
|
|
|
36,928
|
|
|
|
39,045
|
|
|
|
75,824
|
|
|
|
73,919
|
|
|
Total revenues
|
|
$
|
346,245
|
|
|
$
|
289,429
|
|
|
$
|
656,746
|
|
|
$
|
508,909
|
|
|
| Schedule of reconciliation to consolidated operating income |
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
|
Power optimizers
|
|
$
|
116,514
|
|
|
$
|
121,251
|
|
|
$
|
245,382
|
|
|
$
|
214,249
|
|
|
Batteries
|
|
|
125,986
|
|
|
|
67,639
|
|
|
|
215,970
|
|
|
|
107,531
|
|
|
Inverters
|
|
|
71,468
|
|
|
|
80,645
|
|
|
|
134,738
|
|
|
|
151,689
|
|
|
Battery accessories
|
|
|
13,330
|
|
|
|
8,644
|
|
|
|
21,094
|
|
|
|
14,517
|
|
|
Energy storage systems
|
|
|
-
|
|
|
|
8,132
|
|
|
|
-
|
|
|
|
15,230
|
|
|
Other
|
|
|
18,947
|
|
|
|
3,118
|
|
|
|
39,562
|
|
|
|
5,693
|
|
|
Total revenues
|
|
$
|
346,245
|
|
|
$
|
289,429
|
|
|
$
|
656,746
|
|
|
$
|
508,909
|
|
|