The solar company SolarEdge finished off the final quarter of 2019 with a record-breaking revenue of $418.2 million, which was a 2% increase from the third quarter and a 59% increase from the same quarter in 2018.
SolarEdge shipped over 1.6 gigawatts of solar inverters in the final quarter of 2019. Overall, 4.5 million solar power optimizers and approximately 187,000 solar inverters were shipped.
The fourth quarter also saw a 60% increase in shipments of solar energy storage compatible solar inverters in comparison to the third quarter of 2019.
This helped achieve record-breaking revenues of $1.43 billion for the full year of 2019, which was a 52% increase from 2018. Making 2019 the second consecutive year with higher than 50% year-over-year growth.
In the first quarter of 2020 revenues are expected to be in the range of $425 million to $440 million.
Do you think that 2020 will be the third consecutive year with higher than 50% year-over-year growth? Comment below and let us know!
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