SOLAREDGE TECHNOLOGIES, INC. - FORM 8-K - EX-99.3 - EXHIBIT 99.3

Attached files

file	filename
8-K - 8-K - SOLAREDGE TECHNOLOGIES, INC.	zk1517521.htm
EX-99.1 - EXHIBIT 99.1 - SOLAREDGE TECHNOLOGIES, INC.	exhibit_99-1.htm
EX-99.4 - EXHIBIT 99.4 - SOLAREDGE TECHNOLOGIES, INC.	exhibit_99-4.htm
EX-99.2 - EXHIBIT 99.2 - SOLAREDGE TECHNOLOGIES, INC.	exhibit_99-2.htm

Exhibit 99.3

| 1|

Fourth Fiscal Quarter 2015

Earnings summary

August 12, 2015

| 2|

SAFE HARBOR

Use of Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking
statements include information, among other things, concerning: our possible or assumed future results of operations; future demands for solar energy
solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory
environment; general economic conditions; potential growth opportunities; and the effects of competition.

Forward-looking statements are only predictions based on our current expectations and are inherently subject to risks and uncertainties. They should not
be considered guarantees of future results, which could differ materially from the results set forth in, contemplated by, or underlying this presentation.

Factors that could cause actual results to differ materially from our expectations are described in the reports filed by SolarEdge with the Securities and
Exchange Commission and we encourage you to review our filings carefully, especially the sections entitled “Risk Factors” in our Registration Statement on
Form S-1 (including the related prospectus).

SolarEdge undertakes no duty or obligation to update any forward-looking statements contained in this presentation as a result of new information, future
events or changes in its expectations.

This presentation describes non-GAAP net income and non-GAAP net diluted earnings per share, which are not measures prepared in accordance with U.S.
GAAP (i.e. "Non-GAAP" measures). The Non-GAAP measures are presented in this presentation as we believe that they provide investors with a means of
evaluating and understanding how SolarEdge’s management evaluates the company’s operating performance. These Non-GAAP measures should not be
considered in isolation from, as substitutes for, or superior to financial measures prepared in accordance with U.S. GAAP.

| 3|

KEY OPERATING METRICS

$$$

1,138K optimizers
shipped

44K inverters
shipped

284 Megawatts
shipped

$98.4M revenues

| 4|

FISCAL FOURTH QUARTER HIGHLIGHTS

Financial highlights for quarter

Record revenue of $98.4 million, up 13.9% QoQ; 120.8% YoY

GAAP gross margin of 28.7%

GAAP net income of $9.3 million

Non-GAAP net income of $13.8 million

Cash generated from operations $15.7 million

Business highlights for quarter

ASP slightly above plan, despite price pressure

Continued to increase manufacturing capacity

284 Megawatts AC inverters shipped

1,138K optimizers and 44K inverters shipped

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YEAR OVER YEAR HIGHLIGHTS

Financial highlights for FY 2015

Annual revenues of $325.1 million, YoY growth of 144.0%

GAAP gross margin of 25.2%

GAAP net income of $21.1 million

Non-GAAP net income of $29.4 million

Business highlights for FY 2015

920 Megawatts AC inverters shipped

3,534K optimizers and 150K inverters shipped

Significant increase in U.S. and European market share

Successful IPO

| 6|

NOTEWORTHY

Continue growth in commercial markets in the U.S. and rest of world

Launch of three phase 25-33kW inverters enables broader entry into large
commercial markets

SolarEdge-Tesla collaboration progresses; Tesla-ready products expected to arrive in
market by fourth calendar quarter 2015

First automated assembly center installed in Hungary

| 7|

FINANCIAL RESULTS

USD in millions*	FYQ4 '15	FYQ3 '15	FYQ4 '14
Revenues	98.4	86.4	44.6
Gross margin	28.7%	27.4%	19.6%
Operating expenses	16.4	13.9	11.2
Operating income (loss)	11.9	9.8	-2.4
Net income (loss)	9.3	6.0	-3.0
Net diluted earnings per share	0.21	0.01	-1.08

*with the exception of gross margin and per share data

| 8|

NON-GAAP FINANCIAL RESULTS

*with the exception of gross margin and per share data

USD in millions*	FYQ4 '15	FYQ3 '15	FYQ4 '14
Revenues	98.4	86.4	44.6
Gross margin	28.9%	27.6%	19.6%
Operating expenses	15.4	13.1	10.9
Operating income (loss)	13.1	10.8	-2.1
Net income (loss)	13.8	8.7	-2.8
Net diluted Earnings Per Share	0.31	0.20	-0.10

| 9|

REVENUE GROWTH

120.8%

USD millions

| 10|

UNITS SHIPPED

Optimizers shipped

Inverter shipped

K units

Units

| 11 |

GROSS MARGINS

| 12|

OPERATING EXPENSES

25.0%

17.4%

15.8%

16.1%*

* 15.4% excluding IPO related expenses

16.7%

| 13|

USD thousands

| 14|

BALANCE SHEET & CASH FLOW

*FYQ4 ‘15 and FYQ3 ‘15 includes $0.7M and $3.5M related to leasehold
improvements, respectively

USD in millions	FYQ4 '15	FYQ3 '15	FYQ4 '14
Cash and investments	148.4	138.8	11.4
Inventory	74.0	64.5	25.5
Capital Expenditures*	3.5	5.1	0.7
Total Debt	-	-	20.2
Cash Flow From Operations	15.7	-13.0	-5.0