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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 20:       SEGMENT INFORMATION
 
Following the discontinuation of its e-Mobility LCV activity, the Company operates in three different operating segments: Solar, Energy Storage and Automation Machines.
 
The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), makes resource allocation decisions and assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated information about revenues and contributed profit by the operating segments.
 
The Company does not allocate to its operating segments revenue recognized due to advance payments received for performance obligations that extend for a period greater than one year (“financing component”), related to Accounting Standard Codification 606, “Revenue from Contracts with Customers” (ASC 606).
 
Segment profit (loss) is comprised of gross profit (loss) for the segment less operating expenses that do not include amortization and impairment of purchased intangible assets, stock based compensation expenses, restructuring charges, discontinued activity charges and certain other items.
 
The Company manages its assets on a group basis, not by segments, as many of its assets are shared or co-mingled. The Company’s CODM does not regularly review asset information by segments and, therefore, the Company does not report asset information by segment.
 
The Company identified two operating segments as reportable – the Solar segment and the Energy Storage segment. The other operating segments are insignificant individually and therefore their results are presented together under “All other”.
 
The Solar segment includes the design, development, manufacturing, and sales of an intelligent inverter solution designed to maximize power generation at the individual PV module level and batteries for PV applications. The Solar segment solution consists mainly of the Company’s power optimizers, inverters, batteries, and cloud‑based monitoring platform.
 
The Energy Storage segment includes the design, development, manufacturing, and sales of high-energy, high-power, lithium-ion cells and racks and containerized battery systems for C&I and Utility markets. The Energy Storage segment provides purpose-built components and solutions, hardware and software, as well as pre and post sales engineering support to design, build, and manage battery and system solutions according to the customer’s use cases and mission profiles.
 
The “All other” category includes automated machines and e-Mobility (in prior periods).
 
The following tables present information on reportable segments profit (loss) for the period presented:
 
   
Three Months Ended March 31, 2024
  
   
Solar
    
Energy Storage
    
All other
  
Revenues
  
$
190,102
    
$
10,616
    
$
3,447
  
Cost of revenues
    
196,782
      
17,828
      
2,872
  
Gross profit (loss)
    
(6,680
)
    
(7,212
)
    
575
  
Research and development
  
$
51,286
    
$
3,559
    
$
185
  
Sales and marketing
    
29,195
      
817
      
222
  
General and administrative
    
23,222
      
589
      
113
  
Segments profit (loss)
  
$
(110,383
)
  
$
(12,177
)
  
$
55
  
 
   
Three Months Ended March 31, 2023
  
   
Solar
    
Energy Storage
    
All other
  
Revenues
  
$
908,505
    
$
9,133
    
$
26,064
  
Cost of revenues
    
590,105
      
19,578
      
26,638
  
Gross profit (loss)
    
318,400
      
(10,445
)
    
(574
)
Research and development
  
$
55,823
    
$
4,209
    
$
2,319
  
Sales and marketing
    
31,145
      
915
      
646
  
General and administrative
    
24,743
      
2,952
      
826
  
Segments profit (loss)
  
$
206,689
    
$
(18,521
)
  
$
(4,365
)
 
The following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:
 
   
Three Months Ended March 31,
  
   
2024
    
2023
  
Solar segment revenues
  
$
190,102
    
$
908,505
  
Energy Storage segment revenues
    
10,616
      
9,133
  
All other segment revenues
    
3,447
      
26,064
  
Revenues from financing component
    
234
      
187
  
Consolidated revenues
  
$
204,399
    
$
943,889
  
 
The following table presents information on reportable segments reconciliation to consolidated operating income (loss) for the periods presented:
 
   
Three Months Ended March 31,
  
   
2024
    
2023
  
Solar segment profit (loss)
  
$
(110,383
)
  
$
206,689
  
Energy Storage segment (loss)
    
(12,177
)
    
(18,521
)
All other segment profit (loss)
    
55
      
(4,365
)
Segments operating profit (loss)
    
(122,505
)
    
183,803
  
Amounts not allocated to segments:
                
Stock based compensation expenses
    
(37,606
)
    
(39,235
)
Restructuring and other exit activities
    
(9,284
)
    
-
  
Impairment of long-lived assets
    
(1,732
)
    
-
  
Amortization and depreciation of acquired assets
    
(1,947
)
    
(2,035
)
Other unallocated expenses
    
(631
)
    
1,621
  
Consolidated operating income (loss)
    
(173,705
)
    
144,154
  
Financial income (expense), net
    
(7,064
)
    
23,674
  
Other loss, net
    
-
      
(125
)
Income (loss) before income taxes
  
$
(180,769
)
  
$
167,703