SEDGHIGH SIGNALFINANCIAL10-K

SEDG demonstrated meaningful operational improvement with substantially reduced losses and higher revenue, though cash expenditures dropped dramatically.

The company appears to be recovering from severe prior-year losses, with operating losses meaningfully reduced alongside revenue growth of over 30%. However, the sharp decline in capital expenditures and reduced stockholders' equity suggest continued financial constraints that may limit growth investments.

Comparing 2026-02-25 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

SEDG showed notable financial recovery with revenue growing over 30% to $1.2B while operating losses improved substantially from -$1.7B to -$301.7M. The company strengthened its cash position significantly to $455.1M and reduced current liabilities, but stockholders' equity declined 35% and capital expenditures fell dramatically by 78% to just $23.5M. This suggests a company in recovery mode that is conserving cash while working through operational challenges.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+82.3%
-$1.7B→-$301.7M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Capital Expenditure
Cash Flow
-78.3%
$108.2M→$23.5M

Capex reduced 78.3% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Net Income
P&L
+67.7%
-$1.3B→-$405.4M

Net income grew 67.7% — bottom-line growth signals improving overall business health.

Accounts Receivable
Balance Sheet
+66.7%
$160.4M→$267.4M

Receivables surged 66.7% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Cash & Equivalents
Balance Sheet
+65.7%
$274.6M→$455.1M

Cash position surged 65.7% — strong cash generation or capital raise providing significant financial cushion.

Stockholders Equity
Balance Sheet
-35.1%
$658.3M→$427.5M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Revenue
P&L
+31.4%
$901.5M→$1.2B

Strong top-line growth of 31.4% — accelerating demand or successful expansion into new markets.

Current Liabilities
Balance Sheet
-22.8%
$1.0B→$803.5M

Current liabilities reduced — improved short-term financial position and working capital health.

R&D Expense
P&L
-20.2%
$277.2M→$221.3M

R&D spending cut 20.2% — could signal cost discipline or concerning reduction in innovation investment.

Total Assets
Balance Sheet
-17%
$2.6B→$2.2B

Total assets contracted 17% — asset sales, write-downs, or balance sheet optimization underway.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-25
ADDED
http://fasb.org/us-gaap/2025#UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember false FY 0001419612 Including stock-based compensation expenses.
Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.
Represents indirect costs of goods, consultants and sub-contractors, marketing, bad debt and impairments and dispositions.
Presented under other long-term liabilities The state that contributes to the majority (greater than 50%) of the tax effect in this category is California.
As of February 1, 2026, there were 60,366,291 shares of the registrant s common stock, par value of $0.0001 per share, outstanding.
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REMOVED
- 1419612 - 2025 false FY 0001419612 Represents an amount less than $1.
Inventory write-down is included under Inventories, net on the balance sheet.
http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2024#FinanceLeaseLiabilityNoncurrent Except for Germany, Netherlands and Italy Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.
Represents marketing, bad debt and other production related costs.
As of February 1, 2025, there were 58,782,519 shares of the registrant s common stock, par value of $0.0001 per share, outstanding.
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