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Inverter manufacturer SolarEdge reported revenue of US$ 551.9 million, 5% up from US$ 526.4 million in the previous quarter and 54% up from US$ 358.1 million in the same quarter in 2020.
According to the company, revenues from the solar segment were US$ 502.7 million, 5% above US$ 476.8 million in the previous quarter and 54% above US$ 327.1 million in the same quarter of 2020.
For the whole of 2021, total revenues were US$ 1.96 billion, an increase of 34.6% in relation to the US$ 1.46 billion recorded in the 12 months of 2020.
“We ended 2021 with record revenues for the quarter and year,” said Zvi Lando, CEO of SolarEdge.
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For the first quarter of this year, the manufacturer estimates revenues between US$ 615 million and US$ 645 million, with revenues from the solar segment expected to be in the range of US$ 575 million to US$ 595 million.
“The global demand for solar energy across all segments and geographies is extremely strong and generates unprecedented demand for our products. In particular, we are excited about the strong momentum in the commercial market and the increasing rate of adoption of our innovative technology in this segment,” said Lando.
“Our focus is on ensuring customers have the products they need to execute their projects and we are enabling this by increasing production in multiple locations and navigating supply chain and logistical challenges,” he added.
