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SolarEdge announced record revenue for the third quarter of 2021. Recorded revenue of US$ 526.4 million was 10% above US$ 480.1 million raised in the previous quarter. Compared to the same period last year, the increase was 56% above the US$ 338.1 million invoiced.
In the solar segment, revenues recorded US$ 476.8 million, marking a 11% increase compared to US$ 431.4 million in the previous quarter. The growth was 53% compared to the same quarter last year, when US$ 312.5 million was raised.
“We are pleased with our record third quarter revenue amid unprecedented global logistics and supply chain challenges,” said Zvi Lando, CEO of SolarEdge.
“Despite a twelve-week shutdown at our factory in Vietnam during the quarter due to Covid-19, we were able to supply products to meet growing demand from our customers. We are ending the third quarter with a record backlog for the fourth quarter of 2021 and the first quarter of 2022, and we will continue to navigate the various challenges in order to support our clients' businesses.”
Outlook for the 4th quarter
For the last quarter of 2021, SolarEdge expects another increase in revenue. The perspective is that revenue will be in the range of US$ 530 million to US$ 560 million. In the solar segment, revenue should remain between US$ 490 million and US$ 515 million.
