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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 23:       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, energy management solutions, 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 commercial and industrial ("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:
 
   
Solar
    
Energy Storage
    
All other
  
Three Months Ended June 30, 2024
                  
Revenues
  
$
241,243
    
$
21,444
    
$
2,472
  
Cost of revenues
    
238,134
      
24,956
      
1,599
  
Gross profit (loss)
    
3,109
      
(3,512
)
    
873
  
Research and development
    
46,828
      
4,119
      
171
  
Sales and marketing
    
30,100
      
1,025
      
237
  
General and administrative
    
31,241
      
940
      
142
  
Segments profit (loss)
  
$
(105,060
)
  
$
(9,596
)
  
$
323
  
                         
Three Months Ended June 30, 2023
                        
Revenues
  
$
947,360
    
$
19,144
    
$
24,584
  
Cost of revenues
    
618,943
      
27,403
      
20,528
  
Gross profit (loss)
    
328,417
      
(8,259
)
    
4,056
  
Research and development
    
62,102
      
4,005
      
2,858
  
Sales and marketing
    
34,136
      
1,123
      
906
  
General and administrative
    
25,145
      
1,871
      
1,117
  
Segments profit (loss)
  
$
207,034
    
$
(15,258
)
  
$
(825
)
                         
Six Months Ended June 30, 2024
                        
Revenues
  
$
431,345
    
$
32,060
    
$
5,919
  
Cost of revenues
    
434,916
      
42,784
      
4,471
  
Gross profit (loss)
    
(3,571
)
    
(10,724
)
    
1,448
  
Research and development
    
98,114
      
7,678
      
356
  
Sales and marketing
    
59,295
      
1,842
      
459
  
General and administrative
    
54,463
      
1,529
      
255
  
Segments profit (loss)
  
$
(215,443
)
  
$
(21,773
)
  
$
378
  
                         
Six Months Ended June 30, 2023
                        
Revenues
  
$
1,855,865
    
$
28,277
    
$
50,648
  
Cost of revenues
    
1,209,048
      
46,981
      
47,166
  
Gross profit (loss)
    
646,817
      
(18,704
)
    
3,482
  
Research and development
    
117,925
      
8,214
      
5,177
  
Sales and marketing
    
65,281
      
2,038
      
1,552
  
General and administrative
    
49,888
      
4,823
      
1,943
  
Segments profit (loss)
  
$
413,723
    
$
(33,779
)
  
$
(5,190
)

 

The following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:
 
   
Three Months Ended
June 30,
    
Six Months Ended
June 30,
  
   
2024
    
2023
    
2024
    
2023
  
Solar segment revenues
  
$
241,243
    
$
947,360
    
$
431,345
    
$
1,855,865
  
Energy Storage segment revenues
    
21,444
      
19,144
      
32,060
      
28,277
  
All other segment revenues
    
2,472
      
24,584
      
5,919
      
50,648
  
Revenues from finance component
    
246
      
202
      
480
      
389
  
Consolidated revenues
  
$
265,405
    
$
991,290
    
$
469,804
    
$
1,935,179
  
 
The following table presents information on reportable segments reconciliation to consolidated operating income for the periods presented:
 
   
Three Months Ended
June 30,
    
Six Months Ended
June 30,
  
   
2024
    
2023
    
2024
    
2023
  
Solar segment profit (loss)
  
$
(105,060
)
  
$
207,034
    
$
(215,443
)
  
$
413,723
  
Energy Storage segment loss
    
(9,596
)
    
(15,258
)
    
(21,773
)
    
(33,779
)
All other segment profit (loss)
    
323
      
(825
)
    
378
      
(5,190
)
Segments operating profit (loss)
    
(114,333
)
    
190,951
      
(236,838
)
    
374,754
  
Amounts not allocated to segments:
                                
Stock based compensation expenses
    
(38,571
)
    
(38,965
)
    
(76,177
)
    
(78,200
)
Restructuring and other exit activities
    
(4,885
)
    
-
      
(14,650
)
    
-
  
Impairment of long-lived assets
    
-
      
-
      
(1,732
)
    
-
  
Amortization and depreciation of acquired assets
    
(2,083
)
    
(1,379
)
    
(4,030
)
    
(3,414
)
Other unallocated expenses
    
(310
)
    
(249
)
    
(460
)
    
1,372
  
Consolidated operating income (loss)
    
(160,182
)
    
150,358
      
(333,887
)
    
294,512
  
Financial income (expense), net
    
(865
)
    
3,384
      
(7,929
)
    
27,058
  
Other income (loss), net
    
18,551
      
-
      
18,551
      
(125
)
Income (loss) before income taxes
  
$
(142,496
)
  
$
153,742
    
$
(323,265
)
  
$
321,445