Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.<\/p>\n
Achieved non-GAAP operating profitability for the first time in nearly three years, driven by a 20% year-over-year revenue increase and six consecutive quarters of gross margin expansion.<\/p>\n
Attributed U.S. residential market softness to a slower tax equity funding environment and uncertainty regarding FEOC definitions, which has constrained installer cash flows and distributor inventory levels.<\/p>\n
Expanded U.S. C&I market share to over 50% of rooftop installations, benefiting from being the only major inverter vendor delivering U.S.-manufactured products that meet domestic content and FCC requirements.<\/p>\n
Doubled European revenue year-over-year as demand surged ahead of anticipated electricity price hikes and the phase-out of net metering in major markets.<\/p>\n
Launched the Nexis platform in Europe with over $60 million in initial shipments, leveraging independent benchmarks that show significant long-term savings over competitors due to superior round-trip efficiency.<\/p>\n
Advanced the AI factory strategy by transitioning from development to live demonstrations of the Solid State Transformer (SST) system, validating 99% efficiency for data center power infrastructure.<\/p>\n
Q3 revenue guidance of $310 million to $340 million assumes a $15 million sequential decline in Europe due to seasonality and continued softness in the U.S. residential market.<\/p>\n
Anticipates a volume rollout of the Nexis platform in the U.S. during the second half of 2026, supported by approvals across major financing platforms including TPO and prepaid PPA products.<\/p>\n
Expects to reach a fully working SST system in the lab by year-end 2026, followed by pilot installations in 2027 and volume shipments to the data center market in 2028.<\/p>\n
Projects positive free cash flow for the full year 2026, supported by the monetization of 45X credits and continued discipline in managing capital investments.<\/p>\n
Plans to share detailed safe harbor transaction data and the long-term AI factory revenue roadmap during the upcoming Investor Day on September 10.<\/p>\n
Q2 non-GAAP gross margins included a $13.3 million benefit from IEEPA tariff refunds, which are excluded from the Q3 margin guidance range.<\/p>\n
Management clarified that the Nexis platform is manufactured in the U.S. and complies with the FCC Covered List, dismissing concerns regarding potential regulatory delays or the need for exemptions.<\/p>\n
Capital expenditure for 2026 is targeted at $60 million to $80 million, focused on U.S. production capacity for PV and batteries and advanced R&D facilities in Israel.<\/p>\n