0001178913-23-002728 | 10-Q | XBRL Viewer | Solaredge Technologies INC

GENERAL (Policies)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation:

The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). In management’s opinion, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year.

The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2022, contained in the Company’s Annual Report on Form 10-K filed with the SEC on February 22, 2023, have been applied consistently in these unaudited interim condensed consolidated financial statements. Certain prior year amounts have been reclassified to conform to current year presentation.

Use of estimates

Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses and related disclosures in the accompanying notes. The duration, scope and effects of the ongoing Covid-19 pandemic and the conflict in Ukraine, government and other third-party responses to it, and the related macroeconomic effects, including to the Company’s business and the business of the Company’s suppliers and customers are uncertain, rapidly changing and difficult to predict. As a result, the Company’s accounting estimates and assumptions may change over time in response to this evolving situation. Such changes could result in future impairments of goodwill, intangibles, long-lived assets, inventories, incremental credit losses on receivables and available-for-sale marketable debt securities, or an increase in the Company’s insurance liabilities as of the time of a relevant measurement event.

Concentrations of supply risks

Concentrations of supply risks:

The Company depends on two contract manufacturers and several limited or single source component suppliers. Reliance on these vendors makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields, and costs.

As of June 30, 2023, and December 31, 2022, two contract manufacturers collectively accounted for 45.4% and 34.3% of the Company’s total trade payables, net, respectively.

In the second quarter of 2022, the Company announced the opening of “Sella 2”, a two gigawatt-hour (GWh) Li-Ion battery cell manufacturing facility located in South Korea. Sella 2 began producing and shipping cells at the end of 2022 and is expected to reach full manufacturing capacity in early 2024. Sella 2 is the Company's second owned manufacturing facility following the establishment of Sella 1 in 2020. Sella 1 is the Company's manufacturing facility in the North of Israel that produces power optimizers and inverters for the Company's solar activities.

New accounting standards updates

New accounting standards updates:

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued or newly effective standards were not applicable to the Company, did not have a material impact on the condensed consolidated financial statements or are not expected to have a material impact on the condensed consolidated financial statements.

SEGMENT INFORMATION (Schedule of Reportable Segments and Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 991,290	$ 727,774	$ 1,935,179	$ 1,382,854
Cost of revenues	673,985	545,132	1,317,748	1,021,254
Gross profit (loss)	317,305	182,642	617,431	361,600
Research and development	86,526	74,847	166,399	141,196
Sales and marketing	44,222	38,975	85,188	74,291
General and administrative	36,199	28,121	72,766	54,550
Solar segment profit	207,034	99,243	413,723	197,955
All other segment loss	(16,083)	(14,578)	(38,969)	(26,100)
Segments operating profit	190,951	84,665	374,754	171,855
Amounts not allocated to segments:
Stock based compensation expenses	(38,965)	(37,074)	(78,200)	(71,181)
Impairment of goodwill and intangible assets	0	(4,008)	0	(4,008)
Disposal of assets related to Critical Power	0	(4,314)	0	(4,314)
Other unallocated expenses, net	(1,628)	(3,257)	(2,042)	(5,476)
Consolidated operating income	150,358	36,012	294,512	86,876
Solar [Member]
Segment Reporting Information [Line Items]
Revenues	947,360	687,599	1,855,865	1,295,596
Cost of revenues	618,943	494,400	1,209,048	918,900
Gross profit (loss)	328,417	193,199	646,817	376,696
Research and development	62,102	49,141	117,925	92,272
Sales and marketing	34,136	28,419	65,281	54,224
General and administrative	25,145	16,396	49,888	32,245
Segments profit (loss)	207,034	99,243	413,723	197,955
All Other [Member]
Segment Reporting Information [Line Items]
Revenues	43,728	40,029	78,925	86,977
Cost of revenues	47,931	38,948	94,147	83,289
Gross profit (loss)	(4,203)	1,081	(15,222)	3,688
Research and development	6,863	8,587	13,391	16,517
Sales and marketing	2,029	3,283	3,590	5,857
General and administrative	2,988	3,789	6,766	7,414
Segments profit (loss)	$ (16,083)	$ (14,578)	$ (38,969)	$ (26,100)

INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 6: INTANGIBLE ASSETS, NET

Acquired intangible assets consisted of the following as of June 30, 2023, and December 31, 2022:

	June 30, 2023			December 31, 2022
Intangible assets with finite lives:
Current Technology	$	34,879		$	29,196
Customer relationships		3,138			2,958
Trade names		3,769			3,287
Assembled workforce		3,575			3,575
Patents and licenses*		21,400			1,400
Gross intangible assets		66,761			40,416
Less - accumulated amortization		(23,105	)		(20,487	)
Total intangible assets, net	$	43,656		$	19,929

* See Note 16

For the three months ended June 30, 2023 and 2022 the Company recorded amortization expenses related to intangible assets in the amount of $1,820 and $2,619, respectively.

For the six months ended June 30, 2023 and 2022 the Company recorded amortization expenses related to intangible assets in the amount of $3,238 and $5,277, respectively.

Expected future amortization expenses of intangible assets as of June 30, 2023 are as follows:

2023	$	4,666
2024		8,627
2025		7,698
2026		7,269
2027		4,002
2028 and thereafter		11,394
	$	43,656

CONVERTIBLE SENIOR NOTES (Schedule of Convertible Senior Notes) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liability Abstract
Net carrying amount	$ 625,914	$ 624,451
Convertible Senior Notes [Member]
Liability Abstract
Principal	632,500	632,500
Unamortized issuance costs	(6,586)	(8,049)
Net carrying amount	$ 625,914	$ 624,451

DEFERRED REVENUES AND CUSTOMERS ADVANCES (Schedule of Balances of Deferred Revenues and Customer Advances) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Balance, at the beginning of the period	$ 224,424	$ 184,245	$ 213,577	$ 169,345
Revenue recognized	(19,000)	(10,595)	(21,990)	(17,560)
Increase in deferred revenues and customer advances	27,404	27,045	41,241	48,910
Balance, at the end of the period	232,828	200,695	232,828	200,695
Less current portion	(28,135)	(30,460)	(28,135)	(30,460)
Long term portion	$ 204,693	$ 170,235	$ 204,693	$ 170,235

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Statement of Stockholders' Equity [Abstract]
Underwriters discounts and commissions	$ 27,140
Offering costs	$ 834

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Vendor non-trade receivables

^[1]

$ 141,810

$ 147,597

Government authorities

78,963

55,670

Prepaid expenses and other

43,415

37,815

Total prepaid expenses and other current assets

$ 264,188

$ 241,082

[1]

Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues.

DEFERRED REVENUES AND CUSTOMERS ADVANCES (Tables)

6 Months Ended

Jun. 30, 2023

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of balances of deferred revenues

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance, at the beginning of the period	$	224,424		$	184,245		$	213,577		$	169,345
Revenue recognized		(19,000	)		(10,595	)		(21,990	)		(17,560	)
Increase in deferred revenues and customer advances		27,404			27,045			41,241			48,910
Balance, at the end of the period		232,828			200,695			232,828			200,695
Less current portion		(28,135	)		(30,460	)		(28,135	)		(30,460	)
Long term portion	$	204,693		$	170,235		$	204,693		$	170,235

Schedule estimated revenues expected to recognized in future to performance obligations

2023	$	21,700
2024		12,038
2025		10,880
2026		10,649
2027		8,668
Thereafter		168,893
Total deferred revenues	$	232,828

WARRANTY OBLIGATIONS (Schedule of Product Warranty Obligations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Changes in the Company's product warranty liability
Balance, at the beginning of the period	$ 442,971	$ 292,666	$ 385,057	$ 265,160
Additions and adjustments to cost of revenues	89,631	59,061	181,201	106,968
Usage and current warranty expenses	(44,015)	(27,551)	(77,671)	(47,952)
Balance, at end of the period	488,587	324,176	488,587	324,176
Less current portion	(146,150)	(91,761)	(146,150)	(91,761)	$ (103,975)
Long term portion	$ 342,437	$ 232,415	$ 342,437	$ 232,415	$ 281,082

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Taxes Schedule Of Taxes On Income Details
Effective tax rate	22.30%	30.50%	19.80%	28.20%
Unrecognized tax benefits	$ 3,035		$ 3,035		$ 2,756

GOODWILL (Narrative) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 90,104

BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Schedule of fair value estimation of assets acquired and liabilities assumed

	Amount			Weighted Average Useful Life (In years)
Cash	$	448
Net liabilities assumed		(1,837	)
Identified intangible assets:
Current technology		6,576			5
Customer relationships		283			1
Trade name		610			5
Goodwill		12,266
Total	$	18,346

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Schedule of Accrued Expenses and Other Current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued expenses	$ 107,902	$ 117,638
Government authorities	76,995	67,514
Operating lease liabilities	16,738	16,183
Accrual for sales incentives	5,439	6,790
Finance lease	3,123	3,263
Other	3,936	2,724
Total accrued expenses and other current liabilities	$ 214,133	$ 214,112

GOODWILL (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill activity

	Solar			All other		Total
Goodwill at December 31, 2022	$	28,768		$	2,421	$	31,189
Changes during the year:
Acquisitions		-			12,266		12,266
Foreign currency adjustments		(1,194	)		71		(1,123	)
Goodwill at June 30, 2023	$	27,574		$	14,758	$	42,332

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

CONVERTIBLE SENIOR NOTES (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 25, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Convertible Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Debt conversion description	On September 25, 2020, the Company sold $632,500 aggregate principal amount of its 0.00% convertible senior notes due 2025 (the “Notes”). The Notes were sold pursuant to an indenture, dated September 25, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. The Notes do not bear regular interest and mature on September 15, 2025, unless earlier repurchased or converted in accordance with their terms. The Notes are general senior unsecured obligations of the Company. Holders may convert their Notes prior to the close of business on the business day immediately preceding June 15, 2025 in multiples of $1,000 principal amount, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business-day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Notes for each trading day of that five consecutive trading day period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events as described in the Indenture. In addition, holders may convert their Notes, in multiples of $1,000 principal amount, at their option at any time beginning on or after June 15, 2025, and prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Notes, without regard to the foregoing circumstances. The initial conversion rate for the Notes was 3.5997 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $277.80 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture.
Principal amount sold	$ 632,500
Effective coupon rate	0.00%
Maturity date	Sep. 15, 2025
Conversion amount	$ 1,000
Number of shares of common stock per $1,000 principal amount of Notes converted	3.5997
Amount of conversion	$ 1,000
Conversion price	$ 277.8
Amortization of debt discount and debt issuance costs		$ 732	$ 728	$ 1,463	$ 1,456
Amortized period		2 years 2 months 12 days		2 years 2 months 12 days
Effective interest		0.47%		0.47%
Senior Notes [Member] \| Level 2 [Member]
Debt Instrument [Line Items]
Estimated fair value of notes		$ 727,116		$ 727,116

OTHER LONG TERM ASSETS

6 Months Ended

Jun. 30, 2023

Other Assets, Noncurrent [Abstract]

OTHER LONG TERM ASSETS

NOTE 8: OTHER LONG TERM ASSETS

	June 30, 2023		December 31, 2022
Severance pay fund	$	7,479	$	8,799
Cloud computing arrangements		8,236		3,457
Investments in privately held companies		8,536		1,863
Prepayments		3,285		2,961
Other		1,236		1,726
Total other long term assets	$	28,772	$	18,806

INTANGIBLE ASSETS, NET (Schedule of Acquired Intangible Assets) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

$ 66,761

$ 40,416

Less - accumulated amortization

(23,105)

(20,487)

Total intangible assets, net

43,656

19,929

Current Technology [Member]

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

34,879

29,196

Customer relationships [Member]

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

3,138

2,958

Trade names [Member]

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

3,769

3,287

Assembled Workforce [Member]

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

3,575

Patents and licenses [Member]

Finite-Lived Intangible Assets [Line Items]

Gross intangible assets

^[1]

$ 21,400

$ 1,400

[1]	See Note 16

CONVERTIBLE SENIOR NOTES

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES

NOTE 14: CONVERTIBLE SENIOR NOTES

On September 25, 2020, the Company sold $632,500 aggregate principal amount of its 0.00% convertible senior notes due 2025 (the “Notes”). The Notes were sold pursuant to an indenture, dated September 25, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. The Notes do not bear regular interest and mature on September 15, 2025, unless earlier repurchased or converted in accordance with their terms. The Notes are general senior unsecured obligations of the Company. Holders may convert their Notes prior to the close of business on the business day immediately preceding June 15, 2025 in multiples of $1,000 principal amount, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business-day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Notes for each trading day of that five consecutive trading day period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events as described in the Indenture. In addition, holders may convert their Notes, in multiples of $1,000 principal amount, at their option at any time beginning on or after June 15, 2025, and prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Notes, without regard to the foregoing circumstances. The initial conversion rate for the Notes was 3.5997 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $277.80 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture.

Upon conversion, the Company may choose to pay or deliver, as the case may be, cash, shares of common stock, or a combination of cash and shares of common stock.

In addition, upon the occurrence of a fundamental change (as defined in the Indenture), holders of the Notes may require the Company to repurchase all or a portion of their Notes, in multiples of $1,000 principal amount, at a repurchase price of 100% of the principal amount of the Notes, plus any accrued and unpaid special interest to, but excluding the fundamental change repurchase date. If certain fundamental changes referred to as make-whole fundamental changes occur, the conversion rate for the Notes may be increased.

The Convertible Senior Notes consisted of the following as of June 30, 2023 and December 31, 2022:

	June 30, 2023			December 31, 2022
Liability:
Principal	$	632,500		$	632,500
Unamortized issuance costs		(6,586	)		(8,049	)
Net carrying amount	$	625,914		$	624,451

For the three months ended June 30, 2023 and 2022 the Company recorded amortized debt issuance costs related to the Notes in the amount of $732 and $728, respectively.

For the six months ended June 30, 2023 and 2022 the Company recorded amortized debt issuance costs related to the Notes in the amount of $1,463 and $1,456, respectively.

As of June 30, 2023, the unamortized issuance costs of the Notes will be amortized over the remaining term of approximately 2.2 years.

The annual effective interest rate of the Notes is 0.47%.

As of June 30, 2023, the estimated fair value of the Notes, which the Company has classified as Level 2 financial instruments, is $727,116. The estimated fair value was determined based on the quoted bid price of the Notes in an over-the-counter market on the last trading day of the reporting period.

As of June 30, 2023, the if-converted value of the Notes did not exceed the principal amount.

MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2023

Marketable Securities [Abstract]

MARKETABLE SECURITIES

NOTE 3: MARKETABLE SECURITIES

The following is a summary of available-for-sale marketable securities as of June 30, 2023:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	472,687	$	424	$	(10,314	)	$	462,797
U.S. governmental bonds		23,954		-		(248	)		23,706
Non - U.S. governmental bonds		6,840		-		(167	)		6,673
		503,481		424		(10,729	)		493,176
Matures after one year:
Corporate bonds		416,648		583		(13,464	)		403,767
U.S. governmental bonds		27,842		-		(313	)		27,529
Non - U.S. governmental bonds		4,742		-		(238	)		4,504
		449,232		583		(14,015	)		435,800
Total	$	952,713	$	1,007	$	(24,744	)	$	928,976

The following is a summary of available-for-sale marketable securities as of December 31, 2022:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	222,482	$	-	$	(4,657	)	$	217,825
U.S. governmental bonds		15,963		-		(284	)		15,679
Non - U.S. governmental bonds		7,882		-		(269	)		7,613
		246,327		-		(5,210	)		241,117
Matures after one year:
Corporate bonds		657,238		80		(26,460	)		630,858
U.S. governmental bonds		9,939		-		(261	)		9,678
Non - U.S. governmental bonds		5,311		-		(356	)		4,955
		672,488		80		(27,077	)		645,491
Total	$	918,815	$	80	$	(32,287	)	$	886,608

As of June 30, 2023, and December 31, 2022, the Company did not record an allowance for credit losses for its available-for-sale marketable securities.

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of reportable segments and operating income

	Three Months Ended June 30, 2023					Six Months Ended June 30, 2023
	Solar		All other			Solar		All other
Revenues	$	947,360	$	43,728		$	1,855,865	$	78,925
Cost of revenues		618,943		47,931			1,209,048		94,147
Gross profit (loss)		328,417		(4,203	)		646,817		(15,222	)
Research and development		62,102		6,863			117,925		13,391
Sales and marketing		34,136		2,029			65,281		3,590
General and administrative		25,145		2,988			49,888		6,766
Segments profit (loss)	$	207,034	$	(16,083	)	$	413,723	$	(38,969	)

	Three Months Ended June 30, 2022					Six Months Ended June 30, 2022
	Solar		All other			Solar		All other
Revenues	$	687,599	$	40,029		$	1,295,596	$	86,977
Cost of revenues		494,400		38,948			918,900		83,289
Gross profit		193,199		1,081			376,696		3,688
Research and development		49,141		8,587			92,272		16,517
Sales and marketing		28,419		3,283			54,224		5,857
General and administrative		16,396		3,789			32,245		7,414
Segments profit (loss)	$	99,243	$	(14,578	)	$	197,955	$	(26,100	)

Schedule of reconciliation to consolidated operating income

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,
	2023		2022		2023		2022
Solar revenues	$	947,360	$	687,599	$	1,855,865	$	1,295,596
All other revenues		43,728		40,029		78,925		86,977
Revenues from finance component		202		146		389		281
Consolidated revenues	$	991,290	$	727,774	$	1,935,179	$	1,382,854

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,
	2023			2022			2023			2022
Solar segment profit	$	207,034		$	99,243		$	413,723		$	197,955
All other segment loss		(16,083	)		(14,578	)		(38,969	)		(26,100	)
Segments operating profit		190,951			84,665			374,754			171,855
Amounts not allocated to segments:
Stock based compensation expenses		(38,965	)		(37,074	)		(78,200	)		(71,181	)
Impairment of goodwill and intangible assets		-			(4,008	)		-			(4,008	)
Disposal of assets related to Critical Power		-			(4,314	)		-			(4,314	)
Other unallocated expenses, net		(1,628	)		(3,257	)		(2,042	)		(5,476	)
Consolidated operating income	$	150,358		$	36,012		$	294,512		$	86,876

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Fair Values of Outstanding Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Designated cash flow hedges [Member]
Derivative liabilities of options and forward contracts:
Total derivative liabilities	$ (1,893)	$ (1,874)

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Jun. 30, 2023

Accumulated Other Comprehensive Income Loss [Abstract]

Schedule of changes in AOCI

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Unrealized gains (losses) on available-for-sale marketable securities
Beginning balance	$	(19,272	)	$	(14,215	)	$	(25,449	)	$	(4,709	)
Revaluation		793			(5,919	)		8,363			(18,640	)
Tax on revaluation		(132	)		1,357			(1,603	)		3,828
Other comprehensive income (loss) before reclassifications		661			(4,562	)		6,760			14,812
Reclassification		-			-			107			844
Tax on reclassification		-			-			(29	)		(100	)
Losses reclassified from accumulated other comprehensive income (loss)		-			-			78			744
Net current period other comprehensive income (loss)		661			(4,562	)		6,838			(14,068	)
Ending balance	$	(18,611	)	$	(18,777	)	$	(18,611	)	$	(18,777	)
Unrealized gains (losses) on cash flow hedges
Beginning balance	$	(2,092	)	$	194		$	(1,761	)	$	874
Revaluation		(2,229	)		(7,188	)		(4,425	)		(8,525	)
Tax on revaluation		138			837			277			996
Other comprehensive income (loss) before reclassifications		(2,091	)		(6,351	)		(4,148	)		(7,529	)
Reclassification		2,566			2,846			4,406			3,411
Tax on reclassification		(159	)		(331	)		(273	)		(398	)
Losses reclassified from accumulated other comprehensive income (loss)		2,407			2,515			4,133			3,013
Net current period other comprehensive income (loss)		316			(3,836	)		(15	)		(4,516	)
Ending balance	$	(1,776	)	$	(3,642	)	$	(1,776	)	$	(3,642	)
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature
Beginning balance	$	(48,760	)	$	(24,403	)	$	(37,960	)	$	(17,420	)
Revaluation		(1,935	)		(28,347	)		(12,735	)		(35,330	)
Ending balance	$	(50,695	)	$	(52,750	)	$	(50,695	)	$	(52,750	)
Unrealized gains (losses) on foreign currency translation
Beginning balance	$	(7,080	)	$	(7,643	)	$	(7,939	)	$	(6,064	)
Revaluation		730			(6,808	)		1,589			(8,387	)
Ending balance	$	(6,350	)	$	(14,451	)	$	(6,350	)	$	(14,451	)
Total	$	(77,432	)	$	(89,620	)	$	(77,432	)	$	(89,620	)

Schedule of reclassifications out of AOCI

Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30,						Six Months Ended June 30,						Affected Line Item in the Statement of Income
	2023			2022			2023			2022
Unrealized gains (losses) on available-for-sale marketable securities
	$	-		$	-		$	(107	)	$	(844	)	Financial income (expense), net
		-			-			29			100		Income taxes
	$	-		$	-		$	(78	)	$	(744	)	Total, net of income taxes
Unrealized gains (losses) on cash flow hedges, net
		(303	)		(318	)		(515	)		(385	)	Cost of revenues
		(1,521	)		(1,694	)		(2,650	)		(2,032	)	Research and development
		(310	)		(349	)		(535	)		(420	)	Sales and marketing
		(432	)		(485	)		(706	)		(574	)	General and administrative
	$	(2,566	)	$	(2,846	)	$	(4,406	)	$	(3,411	)	Total, before income taxes
		159			331			273			398		Income taxes
		(2,407	)		(2,515	)		(4,133	)		(3,013	)	Total, net of income taxes
Total reclassifications for the period	$	(2,407	)	$	(2,515	)	$	(4,211	)	$	(3,757	)

BUSINESS COMBINATIONS

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

BUSINESS COMBINATIONS

NOTE 2: BUSINESS COMBINATIONS

On April 6, 2023, the Company completed the acquisition of all outstanding shares of Hark Systems Ltd. ("Hark"), a UK-based energy IoT company for the commercial and industrial ("C&I") sector for approximately $18,346 in cash. Hark's platform is expected to enable the Company to offer its commercial and industrial customers expanded capabilities in energy management and connectivity, including identification of potential energy savings, detection of anomalies in assets’ energy consumption, and optimization of energy usage and carbon emissions through load orchestration and storage control.

Pursuant to ASC 805, the Company accounted for the Hark acquisition as a business combination using the acquisition method of accounting. Identifiable assets and liabilities of Hark, including identifiable intangible assets, were recorded based on their estimated fair values as of the date of the closing of the acquisition. The excess of the purchase price over the fair value of the net assets acquired was recorded as goodwill. The Company recorded preliminary estimates for the fair value of assets acquired and liabilities assumed as of the acquisition date. Such preliminary valuation required estimates and assumptions including, but not limited to, estimating future cash flows and direct costs in addition to developing the appropriate discount rates and current market profit margins. The Company’s management believes the fair values recognized for the assets acquired and the liabilities assumed were based on reasonable estimates and assumptions.

The following table summarizes the preliminary fair values estimation of assets acquired and liabilities assumed as of the date of the acquisition:

	Amount			Weighted Average Useful Life (In years)
Cash	$	448
Net liabilities assumed		(1,837	)
Identified intangible assets:
Current technology		6,576			5
Customer relationships		283			1
Trade name		610			5
Goodwill		12,266
Total	$	18,346

Acquisition costs were immaterial and are included in general and administrative expenses in the consolidated statements of income.

Goodwill generated from this acquisition was primarily attributable to the assembled workforce and expected post-acquisition synergies from combining Hark platform with the Company's product offering to its commercial and industrial customers. All of the Goodwill was assigned to the new Consulting segment (see Note 21). Goodwill was not deductible for tax purposes. The fair values of technology, customer relationships and trade name were derived by applying the multi-period excess earnings method, with-and-without method, and the relief-from-royalty method, respectively, all of which are under the income approach whose underlying inputs are considered Level 3. The fair values assigned to assets acquired and liabilities assumed were based on management's estimates and assumptions.

The results of Hark have been included in the Company's consolidated statements of income since the acquisition date and are not material. Pro forma financial information has not been presented because the impact of the acquisition was not material to the Company's statement of income.

BUSINESS COMBINATIONS (Schedule of Fair Values Estimation of Assets Acquired and Liabilities Assumed) (Details) $ in Thousands	Apr. 06, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Cash	$ 448
Net liabilities assumed	(1,837)
Identified intangible assets:	18,346
Current technology [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 6,576
Weighted average life	5 years
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 283
Weighted average life	1 year
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 610
Weighted average life	5 years
Goodwill [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 12,266

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 21: SEGMENT INFORMATION

Following the discontinuation of Critical Power in June 2022, the Company operates in five different operating segments: Solar, Energy Storage, e-Mobility, Automation Machines, and the newly formed Consulting segment.

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, related to Accounting Standard Codification 606, “Revenue from Contracts with Customers” (ASC 606).

Segment profit is comprised of gross profit for the segment less operating expenses that do not include amortization of purchased intangible assets, impairments of goodwill and intangible assets, stock based compensation expenses, 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 one operating segment as reportable – the Solar 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 a residential storage solution, compatible with the Company’s Energy Hub inverter, intended to store and supply power for back-up and to maximize self-consumption. The Solar segment solution consists mainly of the Company’s power optimizers, inverters, batteries, and cloud‑based monitoring platform.

The “All other” category includes the design, development, manufacturing, and sales of energy storage products, e-Mobility products, automated machines, and consulting services.

The following tables present information on reportable segments profit (loss) for the period presented:

	Three Months Ended June 30, 2023					Six Months Ended June 30, 2023
	Solar		All other			Solar		All other
Revenues	$	947,360	$	43,728		$	1,855,865	$	78,925
Cost of revenues		618,943		47,931			1,209,048		94,147
Gross profit (loss)		328,417		(4,203	)		646,817		(15,222	)
Research and development		62,102		6,863			117,925		13,391
Sales and marketing		34,136		2,029			65,281		3,590
General and administrative		25,145		2,988			49,888		6,766
Segments profit (loss)	$	207,034	$	(16,083	)	$	413,723	$	(38,969	)

	Three Months Ended June 30, 2022					Six Months Ended June 30, 2022
	Solar		All other			Solar		All other
Revenues	$	687,599	$	40,029		$	1,295,596	$	86,977
Cost of revenues		494,400		38,948			918,900		83,289
Gross profit		193,199		1,081			376,696		3,688
Research and development		49,141		8,587			92,272		16,517
Sales and marketing		28,419		3,283			54,224		5,857
General and administrative		16,396		3,789			32,245		7,414
Segments profit (loss)	$	99,243	$	(14,578	)	$	197,955	$	(26,100	)

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,
	2023		2022		2023		2022
Solar revenues	$	947,360	$	687,599	$	1,855,865	$	1,295,596
All other revenues		43,728		40,029		78,925		86,977
Revenues from finance component		202		146		389		281
Consolidated revenues	$	991,290	$	727,774	$	1,935,179	$	1,382,854

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,
	2023			2022			2023			2022
Solar segment profit	$	207,034		$	99,243		$	413,723		$	197,955
All other segment loss		(16,083	)		(14,578	)		(38,969	)		(26,100	)
Segments operating profit		190,951			84,665			374,754			171,855
Amounts not allocated to segments:
Stock based compensation expenses		(38,965	)		(37,074	)		(78,200	)		(71,181	)
Impairment of goodwill and intangible assets		-			(4,008	)		-			(4,008	)
Disposal of assets related to Critical Power		-			(4,314	)		-			(4,314	)
Other unallocated expenses, net		(1,628	)		(3,257	)		(2,042	)		(5,476	)
Consolidated operating income	$	150,358		$	36,012		$	294,512		$	86,876

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GOODWILL (Schedule of Goodwill Activities) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Line Items]
Goodwill at December	$ 31,189
Acquisitions	12,266
Foreign currency adjustments	(1,123)
Goodwill at June	42,332
Solar
Goodwill [Line Items]
Goodwill at December	28,768
Acquisitions	0
Foreign currency adjustments	(1,194)
Goodwill at June	27,574
All other
Goodwill [Line Items]
Goodwill at December	2,421
Acquisitions	12,266
Foreign currency adjustments	71
Goodwill at June	$ 14,758

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 257,888	$ 48,207
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	26,725	24,138
Loss (gain) from exchange rate fluctuations	(23,214)	20,398
Stock-based compensation expenses	78,200	71,181
Impairment of goodwill and intangible assets	0	4,008
Deferred income taxes, net	(7,636)	(1,092)
Other items	4,783	11,396
Changes in assets and liabilities:
Inventories, net	(246,193)	(93,348)
Prepaid expenses and other assets	(33,285)	(79,215)
Trade receivables, net	(235,086)	(235,316)
Trade payables, net	(22,304)	(7,339)
Employees and payroll accruals	8,283	5,202
Warranty obligations	103,524	59,588
Deferred revenues and customers advances	17,222	32,277
Accrued expenses and other liabilities, net	(9,695)	54,341
Net cash used in operating activities	(80,788)	(85,574)
Cash flows from investing activities:
Investment in available-for-sale marketable securities	(124,138)	(362,119)
Proceed from sales and maturities of available-for-sale marketable securities	86,813	126,287
Purchase of property, plant and equipment	(84,075)	(91,884)
Business combinations, net of cash acquired	(16,653)	0
Purchase of intangible assets	(10,000)	0
Investment in a privately-held company	(6,750)	0
Proceeds from governmental grant	6,797	0
Other investing activities	3,552	1,783
Net cash used in investing activities	(144,454)	(325,933)
Cash flows from financing activities:
Tax withholding in connection with stock-based awards, net	(8,811)	(2,318)
Payment of finance lease liability	(1,428)	(1,374)
Proceeds from secondary public offering, net of issuance costs	0	650,526
Other financing activities	98	1,572
Net cash provided by (used in) financing activities	(10,141)	648,406
Increase (decrease) in cash and cash equivalents	(235,383)	236,899
Cash and cash equivalents at the beginning of the period	783,112	530,089
Effect of exchange rate differences on cash and cash equivalents	10,015	(21,454)
Cash and cash equivalents at the end of the period	557,744	745,534
Supplemental disclosure of non-cash activities:
Purchase of intangible assets and business combinations	11,245	0
Right-of-use asset recognized with a corresponding lease liability	12,063	34,176
Purchase of property, plant and equipment	$ 16,300	$ 13,451

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands

Common Stock [Member]

Additional paid in capital [Member]

Accumulated Other comprehensive income (loss) [Member]

Retained earnings [Member]

Total

Balance at Dec. 31, 2021

$ 5

$ 687,295

$ (27,319)

$ 650,058

$ 1,310,039

Balance (in shares) at Dec. 31, 2021

52,815,395

Issuance of common stock upon exercise of stock-based awards

$ 0

^[1]

1,478

Issuance of common stock upon exercise of stock-based awards (in shares)

270,751

Stock based compensation

$ 0

34,107

Issuance of common stock in a secondary public offering, net of underwriters' discounts and commissions of $27,140 and $834 of offering costs

$ 1

650,525

650,526

Issuance of common stock in a secondary public offering, net of underwriters' discounts and commissions of $27,140 and $834 of offering costs (in shares)

2,300,000

Other comprehensive loss adjustments

$ 0

(18,748)

Net income

33,123

Balance at Mar. 31, 2022

$ 6

1,373,405

(46,067)

683,181

2,010,525

Balance (in shares) at Mar. 31, 2022

55,386,146

Balance at Dec. 31, 2021

$ 5

687,295

(27,319)

650,058

1,310,039

Balance (in shares) at Dec. 31, 2021

52,815,395

Other comprehensive loss adjustments

(62,301)

Net income

48,207

Balance at Jun. 30, 2022

$ 6

1,418,881

(89,620)

698,265

2,027,532

Balance (in shares) at Jun. 30, 2022

55,633,090

Balance at Mar. 31, 2022

$ 6

1,373,405

(46,067)

683,181

2,010,525

Balance (in shares) at Mar. 31, 2022

55,386,146

Issuance of common stock upon exercise of stock-based awards

$ 0

^[1]

164

Issuance of common stock upon exercise of stock-based awards (in shares)

211,839

Issuance of Common stock under employee stock purchase plan

$ 0

^[1]

8,141

Issuance of Common stock under employee stock purchase plan (in shares)

35,105

Stock based compensation

$ 0

37,171

Other comprehensive loss adjustments

(43,553)

Net income

15,084

Balance at Jun. 30, 2022

$ 6

1,418,881

(89,620)

698,265

2,027,532

Balance (in shares) at Jun. 30, 2022

55,633,090

Balance at Dec. 31, 2022

$ 6

1,505,632

(73,109)

743,837

2,176,366

Balance (in shares) at Dec. 31, 2022

56,133,404

Issuance of common stock upon exercise of stock-based awards

$ 0

^[1]

Issuance of common stock upon exercise of stock-based awards (in shares)

209,760

Stock based compensation

$ 0

40,070

Other comprehensive loss adjustments

(4,095)

Net income

138,378

Balance at Mar. 31, 2023

$ 6

1,545,777

(77,204)

882,215

2,350,794

Balance (in shares) at Mar. 31, 2023

56,343,164

Balance at Dec. 31, 2022

$ 6

1,505,632

(73,109)

743,837

2,176,366

Balance (in shares) at Dec. 31, 2022

56,133,404

Other comprehensive loss adjustments

(4,323)

Net income

257,888

Balance at Jun. 30, 2023

$ 6

1,595,890

(77,432)

1,001,725

2,520,189

Balance (in shares) at Jun. 30, 2023

56,556,340

Balance at Mar. 31, 2023

$ 6

1,545,777

(77,204)

882,215

2,350,794

Balance (in shares) at Mar. 31, 2023

56,343,164

Issuance of common stock upon exercise of stock-based awards

$ 0

^[1]

Issuance of common stock upon exercise of stock-based awards (in shares)

171,682

Issuance of Common stock under employee stock purchase plan

$ 0

^[1]

10,046

Issuance of Common stock under employee stock purchase plan (in shares)

41,494

Stock based compensation

$ 0

39,978

Other comprehensive loss adjustments

(228)

Net income

119,510

Balance at Jun. 30, 2023

$ 6

$ 1,595,890

$ (77,432)

$ 1,001,725

$ 2,520,189

Balance (in shares) at Jun. 30, 2023

56,556,340

[1]	Represents an amount less than $1.

BUSINESS COMBINATIONS (Narrative) (Details) $ in Thousands	Apr. 06, 2023 USD ($)
Business Acquisition [Line Items]
Identified intangible assets:	$ 18,346
Hark Systems Ltd [Member]
Business Acquisition [Line Items]
Identified intangible assets:	$ 18,346

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 10: FAIR VALUE MEASUREMENTS

In accordance with ASC 820, the Company measures its cash equivalents and marketable securities, at fair value using the market approach valuation technique. Cash and cash equivalents are classified within Level 1 because these assets are valued using quoted market prices. Marketable securities and foreign currency derivative contracts are classified within level 2 due to these assets being valued by alternative pricing sources and models utilizing market observable inputs.

The following table sets forth the Company’s assets that were measured at fair value as of June 30, 2023 and December 31, 2022, by level within the fair value hierarchy:

		Fair value measurements as of
Description	Fair Value Hierarchy	June 30, 2023			December 31, 2022
Assets:
Cash and cash equivalents:
Cash	Level 1	$	525,804		$	695,004
Money market mutual funds	Level 1	$	5,772		$	25,149
Deposits	Level 1	$	26,168		$	62,959
Short-term marketable securities:
Corporate bonds	Level 2	$	462,797		$	217,825
U.S. governmental bonds	Level 2	$	23,706		$	15,679
Non - U.S. governmental bonds	Level 2	$	6,673		$	7,613
Long-term marketable securities:
Corporate bonds	Level 2	$	403,767		$	630,858
U.S. governmental bonds	Level 2	$	27,529		$	9,678
Non - U.S. governmental bonds	Level 2	$	4,504		$	4,955
Liabilities:
Derivative instruments	Level 2	$	(1,893	)	$	(1,874	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Schedule of Reclassifications of Other Comprehensive Income Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of revenues	$ 673,985	$ 545,132	$ 1,317,748	$ 1,021,254
Research and development	86,526	74,847	166,399	141,196
Sales and marketing	44,222	38,975	85,188	74,291
General and administrative	36,199	28,121	72,766	54,550
Total, before income taxes	166,947	146,630	322,919	274,724
Income taxes	34,232	6,617	63,557	18,909
Total, net of income taxes	119,510	15,084	257,888	48,207
Available-for-sale marketable securities [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Financial income (expense), net	0	0	(107)	(844)
Income taxes	0	0	29	100
Total, net of income taxes	0	0	(78)	(744)
Cash flow hedges [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of revenues	(303)	(318)	(515)	(385)
Research and development	(1,521)	(1,694)	(2,650)	(2,032)
Sales and marketing	(310)	(349)	(535)	(420)
General and administrative	(432)	(485)	(706)	(574)
Total, before income taxes	(2,566)	(2,846)	(4,406)	(3,411)
Income taxes	159	331	273	398
Total, net of income taxes	(2,407)	(2,515)	(4,133)	(3,013)
Total reclassifications for the period	$ (2,407)	$ (2,515)	$ (4,211)	$ (3,757)

SEGMENT INFORMATION (Schedule of Reportable Segments Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 991,290	$ 727,774	$ 1,935,179	$ 1,382,854
Solar revenues [Member]
Segment Reporting Information [Line Items]
Revenues	947,360	687,599	1,855,865	1,295,596
All other revenues [Member]
Segment Reporting Information [Line Items]
Revenues	43,728	40,029	78,925	86,977
Revenues from finance component [Member]
Segment Reporting Information [Line Items]
Revenues	$ 202	$ 146	$ 389	$ 281

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

INVENTORIES, NET (Schedule of Inventories, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 461,453	$ 503,257
Work in process	35,348	23,407
Finished goods	487,393	202,537
Total inventories, net	$ 984,194	$ 729,201

STOCK CAPITAL (Summary of the Activity in the Share Options) (Details) - Option [Member] - Employees and Members of Board of Directors [Member] $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of options
Outstanding at the beginning of the period \| shares	339,029
Exercised \| shares	(6,748)
Outstanding at the end of the period \| shares	332,281	339,029
Weighted average exercise price
Outstanding at the beginning of the period \| $ / shares	$ 50.64
Exercised \| $ / shares	24.34
Outstanding at the end of the period \| $ / shares	$ 51.18	$ 50.64
Weighted Average Remaining Contractual Term In Years
Outstanding	4 years 4 months 20 days	4 years 10 months 9 days
Aggregate Intrinsic Value
Outstanding \| $	$ 73,219	$ 79,414
Exercised \| $	$ 1,900
Vested and expected to vest at the end of the period
Number of options \| shares	331,930
Weighted average exercise price \| $ / shares	$ 51.03
Weighted average remaining contractual term in years	4 years 4 months 20 days
Aggregate intrinsic Value \| $	$ 73,186
Exercisable at the end of the period
Number of options \| shares	312,950
Weighted average exercise price \| $ / shares	$ 42.34
Weighted average remaining contractual term in years	4 years 2 months 23 days
Aggregate intrinsic Value \| $	$ 71,413

INTANGIBLE ASSETS, NET (Schedule of Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 4,666
2024	8,627
2025	7,698
2026	7,269
2027	4,002
2028 and thereafter	11,394
Total intangible assets, net	$ 43,656	$ 19,929

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value

		Fair value measurements as of
Description	Fair Value Hierarchy	June 30, 2023			December 31, 2022
Assets:
Cash and cash equivalents:
Cash	Level 1	$	525,804		$	695,004
Money market mutual funds	Level 1	$	5,772		$	25,149
Deposits	Level 1	$	26,168		$	62,959
Short-term marketable securities:
Corporate bonds	Level 2	$	462,797		$	217,825
U.S. governmental bonds	Level 2	$	23,706		$	15,679
Non - U.S. governmental bonds	Level 2	$	6,673		$	7,613
Long-term marketable securities:
Corporate bonds	Level 2	$	403,767		$	630,858
U.S. governmental bonds	Level 2	$	27,529		$	9,678
Non - U.S. governmental bonds	Level 2	$	4,504		$	4,955
Liabilities:
Derivative instruments	Level 2	$	(1,893	)	$	(1,874	)

EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income	$ 119,510	$ 15,084	$ 257,888	$ 48,207
Denominator:
Shares used in computing net EPS of common stock, basic	56,415,636	55,470,279	56,316,116	54,309,060
Numerator:
Net income attributable to common stock, basic	$ 119,510	$ 15,084	$ 257,888	$ 48,207
Notes due 2025	536	551	1,072	1,100
Net income attributable to common stock, diluted	$ 120,046	$ 15,635	$ 258,960	$ 49,307
Denominator:
Shares used in computing net EPS of common stock, basic	56,415,636	55,470,279	56,316,116	54,309,060
Notes due 2025	2,276,818	2,276,818	2,276,818	2,276,818
Effect of stock-based awards	491,212	817,637	596,368	860,538
Shares used in computing net EPS of common stock, diluted	59,183,666	58,564,734	59,189,302	57,446,416
Earnings per share:
Basic	$ 2.12	$ 0.27	$ 4.58	$ 0.89
Diluted	$ 2.03	$ 0.26	$ 4.38	$ 0.86
Shares excluded from the calculation of diluted net EPS due to their anti-dilutive effect	491,212	182,715	596,368	203,246

STOCK CAPITAL

6 Months Ended

Jun. 30, 2023

Share-based Payment Arrangement [Abstract]

STOCK CAPITAL

NOTE 15: STOCK CAPITAL

a. Common stock rights:

Common stock confers upon its holders the right to receive notice of, and to participate in, all general meetings of the Company, where each share of common stock shall have one vote for all purposes, to share equally, on a per share basis, in bonuses, profits, or distributions out of fund legally available therefor, and to participate in the distribution of the surplus assets of the Company in the event of liquidation of the Company.

b. Secondary public offering:

On March 17, 2022, the Company offered and sold 2,300,000 shares of the Company’s common stock, at a public offering price of $295.00 per share. The shares of Common Stock were issued and sold in a registered offering pursuant to the underwriting agreement dated March 17, 2022, among the Company, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC (the “Underwriting Agreement”). All of the offered shares were issued at closing, including 300,000 shares of Common Stock that were issued and sold pursuant to the underwriters’ option to purchase additional shares under the Underwriting Agreement, which was exercised in full on March 18, 2022.

The net proceeds to the Company were $650,526 after deducting underwriters' discounts of $27,140 and commissions of $834.

c. Equity Incentive Plans:

The Company’s 2007 Global Incentive Plan (the “2007 Plan”) was adopted by the board of directors on August 30, 2007. The 2007 Plan terminated upon the Company’s IPO on March 31, 2015 and no further awards may be granted thereunder. All outstanding awards will continue to be governed by their existing terms and 379,358 available options for future grants were transferred to the Company’s 2015 Global Incentive Plan (the “2015 Plan”) and are reserved for future issuances under the 2015 plan. The 2015 Plan became effective upon the consummation of the IPO. The 2015 Plan provides for the grant of options, restricted stock units ("RSU"), performance stock units ("PSU"), and other share-based awards to directors, employees, officers, and non-employees of the Company and its subsidiaries. As of June 30, 2023, a total of 20,853,755 shares of common stock were reserved for issuance pursuant to stock awards under the 2015 Plan (the “Share Reserve”), an aggregate of 11,933,444 shares are still available for future grants.

The Share Reserve will automatically increase on January 1^st of each year during the term of the 2015 Plan, commencing on January 1^st of the year following the year in which the 2015 Plan becomes effective, in an amount equal to 5% of the total number of shares of capital stock outstanding on December 31^st of the preceding calendar year; provided, however, that the Company’s board of directors may determine that there will not be a January 1^st increase in the Share Reserve in a given year or that the increase will be less than 5% of the shares of capital stock outstanding on the preceding December 31^st.

The Company granted under its 2015 Plan, PSU awards to certain employees and officers which vest upon the achievement of certain performance or market conditions subject to their continued employment with the Company.

In 2021, the Company has also committed to issuing additional shares, which carry certain performance conditions (including business performance targets and a continued service relationship with the Company) and are treated as PSUs for accounting purposes.

The market condition for the PSUs is based on the Company’s total shareholder return ("TSR") compared to the TSR of companies listed in the S&P 500 index over a one to three year performance period. The Company uses a Monte-Carlo simulation to determine the grant date fair value for these awards, which takes into consideration the market price of a share of the Company’s common stock on the date of grant less the present value of dividends expected during the requisite service period, as well as the possible outcomes pertaining to the TSR market condition. The Company recognizes such compensation expenses on an accelerated vesting method.

The aggregate maximum number of shares of common stock that may be issued on the exercise of incentive stock options is 10,000,000. As of June 30, 2023, an aggregate of 8,617,974 options are still available for future grants under the 2015 Plan.

A summary of the activity in stock options and related information is as follows:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term in years		Aggregate intrinsic Value
Outstanding as of December 31, 2022		339,029		$	50.64		4.86	$	79,414
Exercised		(6,748	)		24.34		-		1,900
Outstanding as of June 30, 2023		332,281		$	51.18		4.39	$	73,219
Vested and expected to vest as of June 30, 2023		331,930		$	51.03		4.39	$	73,186
Exercisable as of June 30, 2023		312,950		$	42.34		4.23	$	71,413

The intrinsic value is the amount by which the closing price of the Company’s common stock on June 30, 2023 of $269.05 or the price on the day of exercise exceeds the exercise price of the stock options multiplied by the number of in-the-money options.

A summary of the activity in the RSUs and related information is as follows:

	Number of RSUs			Weighted average grant date fair value
Unvested as of December 31, 2022		1,488,515		$	232.05
Granted		193,199			287.80
Vested		(366,445	)		184.37
Forfeited		(50,100	)		257.92
Unvested as of June 30, 2023		1,265,169		$	278.79

A summary of the activity in the PSUs and related information is as follows:

	Number of PSUs			Weighted average grant date fair value
Unvested as of December 31, 2022		149,232		$	295.88
Granted		32,348			314.22
Vested		(8,249	)		270.93
Unvested as of June 30, 2023		173,331		$	114.79

d. Employee Stock Purchase Plan ("ESPP"):

The Company adopted an ESPP effective upon the consummation of the IPO. As of June 30, 2023, a total of 4,150,380 shares were reserved for issuance under this plan. The number of shares of common stock reserved for issuance under the ESPP will increase automatically on January 1^st of each year, for ten years, by the lesser of 1% of the total number of shares of the Company’s common stock outstanding on December 31st of the preceding calendar year or 487,643 shares. However, the Company’s board of directors may reduce the amount of the increase in any particular year at their discretion, including a reduction to zero.

The ESPP is implemented through an offering every six months. According to the ESPP, eligible employees may use up to 15% of their salaries to purchase common stock up to an aggregate limit of $15 per participant for every six months plan. The price of an ordinary share purchased under the ESPP is equal to 85% of the lower of the fair market value of the ordinary share on the subscription date of each offering period or on the purchase date.

As of June 30, 2023, 780,370 shares of common stock had been purchased under the ESPP.

As of June 30, 2023, 3,370,010 shares of common stock were available for future issuance under the ESPP.

In accordance with ASC No. 718, the ESPP is compensatory and, as such, results in recognition of compensation cost.

e.	Stock-based compensation expenses:

The Company recognized stock-based compensation expenses related to all stock-based awards in the consolidated statement of income for the three and six months ended June 30, 2023, and 2022, as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Stock-based compensation expenses:
Cost of revenues	$	5,923	$	5,286	$	11,850	$	10,348
Research and development		17,272		16,819		34,481		31,804
Selling and marketing		7,822		7,047		15,901		13,748
General and administrative		7,948		7,922		15,968		15,281
Total stock-based compensation expenses	$	38,965	$	37,074	$	78,200	$	71,181

Stock-based compensation capitalized:
Inventory	$	606	$	-	$	1,011	$	-
Other long-term assets		407		97		837		97
Total stock-based compensation capitalized	$	1,013	$	97	$	1,848	$	97

The total tax benefit associated with share-based compensation for the three months ended June 30, 2023 and 2022 was $4,102 and $3,058, respectively. The tax benefit realized from share-based compensation for the three months ended June 30, 2023, and 2022 was $2,619 and $2,885, respectively.

The total tax benefit associated with share-based compensation for the six months ended June 30, 2023, and 2022 was $8,298 and $6,536, respectively. The tax benefit realized from share-based compensation for the six months ended June 30, 2023, and 2022 was $5,461 and $5,812, respectively.

As of June 30, 2023, there were total unrecognized compensation expenses in the amount of $318,954 related to non-vested equity-based compensation arrangements granted. These expenses are expected to be recognized during the period from July 1, 2023, through May 31, 2027.

INVENTORIES, NET

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 4: INVENTORIES, NET

	June 30, 2023		December 31, 2022
Raw materials	$	461,453	$	503,257
Work in process		35,348		23,407
Finished goods		487,393		202,537
Total inventories, net	$	984,194	$	729,201

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 991,290	$ 727,774	$ 1,935,179	$ 1,382,854
Cost of revenues	673,985	545,132	1,317,748	1,021,254
Gross profit	317,305	182,642	617,431	361,600
Operating expenses:
Research and development	86,526	74,847	166,399	141,196
Sales and marketing	44,222	38,975	85,188	74,291
General and administrative	36,199	28,121	72,766	54,550
Other operating expense (income), net	0	4,687	(1,434)	4,687
Total operating expenses	166,947	146,630	322,919	274,724
Operating income	150,358	36,012	294,512	86,876
Financial income (expense), net	3,384	(14,311)	27,058	(18,916)
Other loss	0	0	(125)	(844)
Income before income taxes	153,742	21,701	321,445	67,116
Income taxes	34,232	6,617	63,557	18,909
Net income	$ 119,510	$ 15,084	$ 257,888	$ 48,207
Net income per share:
Net basic earnings per share of common stock	$ 2.12	$ 0.27	$ 4.58	$ 0.89
Net diluted earnings per share of common stock	$ 2.03	$ 0.26	$ 4.38	$ 0.86
Weighted average number of shares used in computing net basic earnings per share of common stock	56,415,636	55,470,279	56,316,116	54,309,060
Weighted average number of shares used in computing net diluted earnings per share of common stock	59,183,666	58,564,734	59,189,302	57,446,416

WARRANTY OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2023

Product Warranties Disclosures [Abstract]

Schedule of warranty obligations

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance, at the beginning of the period	$	442,971		$	292,666		$	385,057		$	265,160
Additions and adjustments to cost of revenues		89,631			59,061			181,201			106,968
Usage and current warranty expenses		(44,015	)		(27,551	)		(77,671	)		(47,952	)
Balance, at end of the period		488,587			324,176			488,587			324,176
Less current portion		(146,150	)		(91,761	)		(146,150	)		(91,761	)
Long term portion	$	342,437		$	232,415		$	342,437		$	232,415

ACCUMULATED OTHER COMPREHENSIVE LOSS (Schedule of Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Beginning balance		$ (73,109)			$ (73,109)
Net current period other comprehensive income (loss)	$ (228)	(4,095)	$ (43,553)	$ (18,748)	(4,323)	$ (62,301)
Ending balance	(77,432)		(89,620)		(77,432)	(89,620)
Unrealized gains (losses) on available-for-sale marketable securities [Member]
Beginning balance	(19,272)	(25,449)	(14,215)	(4,709)	(25,449)	(4,709)
Revaluation	793		(5,919)		8,363	(18,640)
Tax on revaluation	(132)		1,357		(1,603)	3,828
Other comprehensive income (loss) before reclassifications	661		(4,562)		6,760	14,812
Reclassification	0		0		107	844
Tax on reclassification	0		0		(29)	(100)
Losses reclassified from accumulated other comprehensive income (loss)	0		0		78	744
Net current period other comprehensive income (loss)	661		(4,562)		6,838	(14,068)
Ending balance	(18,611)	(19,272)	(18,777)	(14,215)	(18,611)	(18,777)
Unrealized gains (losses) on cash flow hedges [Member]
Beginning balance	(2,092)	(1,761)	194	874	(1,761)	874
Revaluation	(2,229)		(7,188)		(4,425)	(8,525)
Tax on revaluation	138		837		277	996
Other comprehensive income (loss) before reclassifications	(2,091)		(6,351)		(4,148)	(7,529)
Reclassification	2,566		2,846		4,406	3,411
Tax on reclassification	(159)		(331)		(273)	(398)
Losses reclassified from accumulated other comprehensive income (loss)	2,407		2,515		4,133	3,013
Net current period other comprehensive income (loss)	316		(3,836)		(15)	(4,516)
Ending balance	(1,776)	(2,092)	(3,642)	194	(1,776)	(3,642)
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature [Member]
Beginning balance	(48,760)	(37,960)	(24,403)	(17,420)	(37,960)	(17,420)
Revaluation	(1,935)		(28,347)		(12,735)	(35,330)
Ending balance	(50,695)	(48,760)	(52,750)	(24,403)	(50,695)	(52,750)
Unrealized gains (losses) on foreign currency translation [Member]
Beginning balance	(7,080)	(7,939)	(7,643)	(6,064)	(7,939)	(6,064)
Revaluation	730		(6,808)		1,589	(8,387)
Ending balance	$ (6,350)	$ (7,080)	$ (14,451)	$ (7,643)	$ (6,350)	$ (14,451)

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 16: COMMITMENTS AND CONTINGENT LIABILITIES a. Guarantees: As of June 30, 2023, contingent liabilities exist regarding guarantees in the amounts of $5,937, and $1,875 in respect of office rent lease agreements and other transactions, respectively. b. Contractual purchase obligations: The Company has contractual obligations to purchase goods and raw materials. These contractual purchase obligations relate to inventories and other purchase orders, which cannot be canceled without penalty. In addition, the Company acquires raw materials or other goods and services, including product components, by issuing authorizations to its suppliers to purchase materials based on its projected demand and manufacturing needs. As of June 30, 2023, the Company had non-cancelable purchase obligations totaling approximately $1,443,251, out of which the Company recorded a provision for loss in the amount of $8,818. As of June 30, 2023, the Company had contractual obligations for capital expenditures totaling approximately $132,988. These commitments reflect purchases of automated assembly lines and other machinery related to the Company’s general manufacturing process and mainly to its plans to establish manufacturing capabilities in the United States. c. Legal claims: From time to time, the Company may be involved in various claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. These accruals are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular matter. In September 2018, the Company’s German subsidiary, SolarEdge Technologies GmbH, received a complaint filed by competitor SMA Solar Technology AG (“SMA”). The complaint, filed in the District Court Düsseldorf, Germany, alleged that SolarEdge's 12.5kW - 27.6kW inverters infringed on two of the plaintiff’s patents. SMA asserted a value in dispute of EUR 5.5 million (approximately $5,973) for both patents. The Company challenged the validity of both patents and the first patent was invalidated and SMA’s appeal on the matter was denied in January 2023. In August 2021, the German Patent Court rendered SMA's second patent invalid, and this invalidity has been appealed by SMA. In May 2023 the Federal Supreme Court as final instance in the nullity proceedings revoked the second patent, and SMA withdrew its infringement complaint. On July 28, 2022, the Company and its subsidiary SolarEdge Technologies Ltd were served with complaints filed by Ampt LLC ("Ampt") in the International Trade Commission (the “Commission”) pursuant to Section 337 of the Tariff Act of 1930, as amended, and related lawsuits in the District Court for the District of Delaware alleging patent infringement against the Company. On May 9, 2023, Ampt and the Company entered into a settlement agreement pursuant to which the parties agreed to dismiss all proceedings related to the complaints, and the parties have granted each other 10-year cross-licenses for certain intellectual property. As of June 30, 2023, an immaterial amount for legal claims was recorded in accrued expenses and other current liabilities.

OTHER OPERATING EXPENSE (INCOME) (Tables)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Schedule of other operating expense (income)

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023			2022
Impairment of goodwill and intangible assets	$	-	$	4,008	$	-		$	4,008
Sale of assets		-		-		(1,434	)		-
Write-off of property, plant and equipment		-		679		-			679
Total other operating expense (income), net	$	-	$	4,687	$	(1,434	)	$	4,687

OTHER LONG TERM ASSETS (Tables)

6 Months Ended

Jun. 30, 2023

Other Assets, Noncurrent [Abstract]

Schedule of other long term assets

	June 30, 2023		December 31, 2022
Severance pay fund	$	7,479	$	8,799
Cloud computing arrangements		8,236		3,457
Investments in privately held companies		8,536		1,863
Prepayments		3,285		2,961
Other		1,236		1,726
Total other long term assets	$	28,772	$	18,806

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of outstanding derivative instruments

	Balance sheet location	June 30, 2023			December 31, 2022
Derivative liabilities of options and forward contracts:
Designated cash flow hedges	Accrued expenses and other current liabilities	$	(1,893	)	$	(1,874	)

Schedule of gains (losses) on derivative instruments recognized in our income statements

		Three Months Ended June 30,						Six Months Ended June 30,
	Affected line item	2023			2022			2023			2022
Foreign exchange contracts
Non Designated Hedging Instruments	Condensed Consolidated Statements of Income - Financial income (expense), net	$	-		$	3,009		$	-		$	3,943
Designated Hedging Instruments	Condensed Consolidated Statements of Comprehensive Income - Cash flow hedges	$	(2,091	)	$	(6,351	)	$	(4,148	)	$	(7,529	)

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Insider Trading Arrangements [Line Items]
Trading Arrangement Adoption Date	June 30, 2023
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details) - Foreign exchange forward contracts [Member] - NIS [Member] ₪ in Thousands	Jun. 30, 2023 ILS (₪)
Put option [Member]
Derivative [Line Items]
Forward/option contracts	₪ 106,250
Call option [Member]
Derivative [Line Items]
Forward/option contracts	₪ 216,000

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2023
Income Taxes [Abstract]
INCOME TAXES	NOTE 19: INCOME TAXES The effective tax rate for the three months ended June 30, 2023, and 2022 was 22.3% and 30.5%, respectively, and for the six months ended June 30, 2023, and 2022 the effective tax rate was 19.8% and 28.2%, respectively. The lower tax rate in the three and six months ended June 30, 2023 compared to the corresponding periods in 2022 is mainly due to the fact that the Company's income before tax, most of which is subject to tax rates lower than the US statutory rate, increased. Conversely, the IRC Section 174 R&D capitalization, and other expenses not recognized for GILTI purposes, did not increase in the same proportion. As of June 30, 2023, and December 31, 2022, unrecognized tax benefits were $3,035 and $2,756, respectively. If recognized, such benefits would favorably affect the Company’s effective tax rate. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. The total amount of penalties and interest were immaterial as of June 30, 2023, and December 31, 2022. In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “IRA”), which includes several incentives intended to promote clean energy, battery and energy storage, electrical vehicles, and other solar products, and is expected to impact our business and operations. As part of such incentives the IRA, will among other things, extend the investment tax credit (“ITC”) through 2034 and is therefore expected to increase the demand for solar products. The IRA is expected to further incentivize residential and commercial solar customers and developers due to the inclusion of a tax credit for qualifying energy projects of up to 30%. Since these regulations are new and their implementation is still pending administrative guidance from the Internal Revenue Service and U.S. Treasury Department, the Company will be examining the benefits that may be available to it, such as the availability of tax credits for domestic manufacturers, in the coming months. The Company also announced its plans to establish manufacturing capabilities in the United States during 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

INVENTORIES, NET (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of inventories, net

	June 30, 2023		December 31, 2022
Raw materials	$	461,453	$	503,257
Work in process		35,348		23,407
Finished goods		487,393		202,537
Total inventories, net	$	984,194	$	729,201

STOCK CAPITAL (Schedule of RSUs and PSUs Activity) (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period \| shares	1,488,515
Granted \| shares	193,199
Vested \| shares	(366,445)
Forfeited \| shares	(50,100)
Unvested at end of period \| shares	1,265,169
Weighted average grant date fair value, beginning of period \| $ / shares	$ 232.05
Weighted average grant date fair value, granted \| $ / shares	287.8
Weighted average grant date fair value, vested \| $ / shares	184.37
Weighted average grant date fair value, forfeited \| $ / shares	257.92
Weighted average grant date fair value, end of period \| $ / shares	$ 278.79
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period \| shares	149,232
Granted \| shares	32,348
Vested \| shares	(8,249)
Unvested at end of period \| shares	173,331
Weighted average grant date fair value, beginning of period \| $ / shares	$ 295.88
Weighted average grant date fair value, granted \| $ / shares	314.22
Weighted average grant date fair value, vested \| $ / shares	270.93
Weighted average grant date fair value, end of period \| $ / shares	$ 114.79

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 557,744	$ 783,112
Marketable securities	493,176	241,117
Trade receivables, net of allowances of $6,890 and $3,202, respectively	1,149,820	905,146
Inventories, net	984,194	729,201
Prepaid expenses and other current assets	264,188	241,082
Total current assets	3,449,122	2,899,658
LONG-TERM ASSETS:
Marketable securities	435,800	645,491
Deferred tax assets, net	49,993	44,153
Property, plant and equipment, net	580,503	543,969
Operating lease right-of-use assets, net	66,387	62,754
Intangible assets, net	43,656	19,929
Goodwill	42,332	31,189
Other Assets, Noncurrent	28,772	18,806
Total long-term assets	1,247,443	1,366,291
Total assets	4,696,565	4,265,949
CURRENT LIABILITIES:
Trade payables, net	434,602	459,831
Employees and payroll accruals	74,709	85,158
Warranty obligations	146,150	103,975
Deferred revenues and customers advances	28,135	26,641
Accrued expenses and other current liabilities	214,133	214,112
Total current liabilities	897,729	889,717
LONG-TERM LIABILITIES:
Convertible senior notes, net	625,914	624,451
Warranty obligations	342,437	281,082
Deferred revenues	204,693	186,936
Finance lease liabilities	42,208	45,385
Operating lease liabilities	47,046	46,256
Other long-term liabilities	16,349	15,756
Total long-term liabilities	1,278,647	1,199,866
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS’ EQUITY:
Common stock of $0.0001 par value - Authorized: 125,000,000 shares as of June 30, 2023 and December 31, 2022; issued and outstanding: 56,556,340 and 56,133,404 shares as of June 30, 2023 and December 31, 2022, respectively	6	6
Additional paid-in capital	1,595,890	1,505,632
Accumulated other comprehensive loss	(77,432)	(73,109)
Retained earnings	1,001,725	743,837
Total stockholders’ equity	2,520,189	2,176,366
Total liabilities and stockholders’ equity	$ 4,696,565	$ 4,265,949

PREPAID EXPENSES AND OTHER CURRENT ASSETS

6 Months Ended

Jun. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 5: PREPAID EXPENSES AND OTHER CURRENT ASSETS

	June 30, 2023		December 31, 2022
Vendor non-trade receivables (*)	$	141,810	$	147,597
Government authorities		78,963		55,670
Prepaid expenses and other		43,415		37,815
Total prepaid expenses and other current assets	$	264,188	$	241,082

(*) Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues.

GENERAL (Narrative) (Details)	6 Months Ended	12 Months Ended
GENERAL (Narrative) (Details)	Jun. 30, 2023	Dec. 31, 2022
Accounts Payable [Member] \| Supplier Concentration Risk [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration Risk As Percent	45.40%	34.30%

INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 1,820	$ 2,619	$ 3,238	$ 5,277

FAIR VALUE MEASUREMENTS (Schedule of Assets Measured at Fair Value) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Level 1 [Member] \| Cash [Member]
Fair value of assets	$ 525,804	$ 695,004
Level 1 [Member] \| Money Market Mutual Funds [Member]
Fair value of assets	5,772	25,149
Level 1 [Member] \| Deposits [Member]
Fair value of assets	26,168	62,959
Level 2 [Member] \| Derivative instruments, Assets [Member]
Fair value of liabilities	(1,893)	(1,874)
Level 2 [Member] \| Short-term Corporate bonds [Member]
Fair value of assets	462,797	217,825
Level 2 [Member] \| Short-term Governmental bonds [Member]
Fair value of assets	23,706	15,679
Level 2 [Member] \| Short Term Non Us Governmental Bonds [Member]
Fair value of assets	6,673	7,613
Level 2 [Member] \| Long-term Corporate bonds [Member]
Fair value of assets	403,767	630,858
Level 2 [Member] \| Long-term Governmental bonds [Member]
Fair value of assets	27,529	9,678
Level 2 [Member] \| Long Term Non Us Governmental Bonds [Member]
Fair value of assets	$ 4,504	$ 4,955

DEFERRED REVENUES AND CUSTOMERS ADVANCES

6 Months Ended

Jun. 30, 2023

Revenue Recognition and Deferred Revenue [Abstract]

DEFERRED REVENUES AND CUSTOMERS ADVANCES

NOTE 12: DEFERRED REVENUES AND CUSTOMERS ADVANCES

Deferred revenues consist of deferred cloud-based monitoring services, communication services, warranty extension services and advance payments received from customers for the Company’s products. Deferred revenues are classified as short-term and long-term deferred revenues based on the period in which revenues are expected to be recognized.

Changes in the balances of deferred revenues and customer advances during the period are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance, at the beginning of the period	$	224,424		$	184,245		$	213,577		$	169,345
Revenue recognized		(19,000	)		(10,595	)		(21,990	)		(17,560	)
Increase in deferred revenues and customer advances		27,404			27,045			41,241			48,910
Balance, at the end of the period		232,828			200,695			232,828			200,695
Less current portion		(28,135	)		(30,460	)		(28,135	)		(30,460	)
Long term portion	$	204,693		$	170,235		$	204,693		$	170,235

The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2023:

2023	$	21,700
2024		12,038
2025		10,880
2026		10,649
2027		8,668
Thereafter		168,893
Total deferred revenues	$	232,828

OTHER LONG TERM ASSETS (Schedule of Other Long Term Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets, Noncurrent [Abstract]
Severance pay fund	$ 7,479	$ 8,799
Cloud computing arrangements	8,236	3,457
Investments in privately held companies	8,536	1,863
Prepayments	3,285	2,961
Other	1,236	1,726
Total other long term assets	$ 28,772	$ 18,806

STOCK CAPITAL (Tables)

6 Months Ended

Jun. 30, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of activity in the share options granted to employees and members of board of directors

	Number of options			Weighted average exercise price		Weighted average remaining contractual term in years		Aggregate intrinsic Value
Outstanding as of December 31, 2022		339,029		$	50.64		4.86	$	79,414
Exercised		(6,748	)		24.34		-		1,900
Outstanding as of June 30, 2023		332,281		$	51.18		4.39	$	73,219
Vested and expected to vest as of June 30, 2023		331,930		$	51.03		4.39	$	73,186
Exercisable as of June 30, 2023		312,950		$	42.34		4.23	$	71,413

Schedule of RSU activity

	Number of RSUs			Weighted average grant date fair value
Unvested as of December 31, 2022		1,488,515		$	232.05
Granted		193,199			287.80
Vested		(366,445	)		184.37
Forfeited		(50,100	)		257.92
Unvested as of June 30, 2023		1,265,169		$	278.79

Schedule of recognized stock-based compensation expenses

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Stock-based compensation expenses:
Cost of revenues	$	5,923	$	5,286	$	11,850	$	10,348
Research and development		17,272		16,819		34,481		31,804
Selling and marketing		7,822		7,047		15,901		13,748
General and administrative		7,948		7,922		15,968		15,281
Total stock-based compensation expenses	$	38,965	$	37,074	$	78,200	$	71,181

Stock-based compensation capitalized:
Inventory	$	606	$	-	$	1,011	$	-
Other long-term assets		407		97		837		97
Total stock-based compensation capitalized	$	1,013	$	97	$	1,848	$	97

Option [Member] | Employees and members of board of directors

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of RSU activity

	Number of PSUs			Weighted average grant date fair value
Unvested as of December 31, 2022		149,232		$	295.88
Granted		32,348			314.22
Vested		(8,249	)		270.93
Unvested as of June 30, 2023		173,331		$	114.79

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) - 6 months ended Jun. 30, 2023 $ in Thousands, € in Millions	EUR (€)	USD ($)
Non-cancelable purchase obligations		$ 1,443,251
Provision for loss		8,818
Contractual obligations for capital expenditures		132,988
Patents [Member]
Value in dispute	€ 5.5	5,973
Office rent lease agreements [Member]
Guarantees amount		5,937
Projects with customers [Member]
Guarantees amount		$ 1,875

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

Net income per share:

EARNINGS PER SHARE

NOTE 20: EARNINGS PER SHARE

The following table presents the computation of basic and diluted earnings per share (“EPS”):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic EPS:
Numerator:
Net income	$	119,510	$	15,084	$	257,888	$	48,207
Denominator:
Shares used in computing net EPS of common stock, basic		56,415,636		55,470,279		56,316,116		54,309,060
Diluted EPS:
Numerator:
Net income attributable to common stock, basic	$	119,510	$	15,084	$	257,888	$	48,207
Notes due 2025		536		551		1,072		1,100
Net income attributable to common stock, diluted	$	120,046	$	15,635	$	258,960	$	49,307
Denominator:
Shares used in computing net EPS of common stock, basic		56,415,636		55,470,279		56,316,116		54,309,060
Notes due 2025		2,276,818		2,276,818		2,276,818		2,276,818
Effect of stock-based awards		491,212		817,637		596,368		860,538
Shares used in computing net EPS of common stock, diluted		59,183,666		58,564,734		59,189,302		57,446,416
Earnings per share:
Basic	$	2.12	$	0.27	$	4.58	$	0.89
Diluted	$	2.03	$	0.26	$	4.38	$	0.86

Shares excluded from the calculation of diluted net EPS due to their anti-dilutive effect		491,212		182,715		596,368		203,246

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2023

Payables and Accruals [Abstract]

Schedule of accrued expenses and other current liabilities

	June 30, 2023		December 31, 2022
Accrued expenses	$	107,902	$	117,638
Government authorities		76,995		67,514
Operating lease liabilities		16,738		16,183
Accrual for sales incentives		5,439		6,790
Finance lease		3,123		3,263
Other		3,936		2,724
Total accrued expenses and other current liabilities	$	214,133	$	214,112

GOODWILL

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

NOTE 7: GOODWILL

Changes in the carrying amount of goodwill for the period ended June 30, 2023 were as follows:

	Solar			All other		Total
Goodwill at December 31, 2022	$	28,768		$	2,421	$	31,189
Changes during the year:
Acquisitions		-			12,266		12,266
Foreign currency adjustments		(1,194	)		71		(1,123	)
Goodwill at June 30, 2023	$	27,574		$	14,758	$	42,332

As of June 30, 2023 and December 31, 2022 there were $90,104 accumulated goodwill impairment losses.

CONVERTIBLE SENIOR NOTES (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of convertible senior notes

	June 30, 2023			December 31, 2022
Liability:
Principal	$	632,500		$	632,500
Unamortized issuance costs		(6,586	)		(8,049	)
Net carrying amount	$	625,914		$	624,451

INTANGIBLE ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of acquired intangible assets

	June 30, 2023			December 31, 2022
Intangible assets with finite lives:
Current Technology	$	34,879		$	29,196
Customer relationships		3,138			2,958
Trade names		3,769			3,287
Assembled workforce		3,575			3,575
Patents and licenses*		21,400			1,400
Gross intangible assets		66,761			40,416
Less - accumulated amortization		(23,105	)		(20,487	)
Total intangible assets, net	$	43,656		$	19,929

* See Note 16

Schedule of future amortization expense

2023	$	4,666
2024		8,627
2025		7,698
2026		7,269
2027		4,002
2028 and thereafter		11,394
	$	43,656

GENERAL

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL

NOTE 1: GENERAL

SolarEdge Technologies, Inc. (the “Company”) and its subsidiaries design, develop, and sell an intelligent inverter solution designed to maximize power generation at the individual photovoltaic (“PV”) module level while lowering the cost of energy produced by the solar PV system and providing comprehensive and advanced safety features. The Company’s products consist mainly of (i) power optimizers designed to maximize energy throughput from each and every module through constant tracking of Maximum Power Point individually per module, (ii) inverters which invert direct current (DC) from the PV module to alternating current (AC) including the Company’s Energy Hub inverter which supports, among other things, connection to a DC-coupled battery for full or partial home backup, and optional connection to the Company's smart EV charger, (iii) a remote cloud-based monitoring platform, that collects and processes information from the power optimizers and inverters to enable customers and system owners, to monitor and manage the solar PV system (iv) a residential storage and backup solution which includes a company designed and manufactured lithium-ion DC-coupled battery that is used to increase energy independence and maximize self-consumption for homeowners including a battery, and (v) additional smart energy management solutions.

The Company and its subsidiaries sell products worldwide through large distributors, electrical equipment wholesalers, as well as directly to large solar installers and engineering, procurement, and construction firms.

The Company has expanded its activity to other areas of smart energy technology organically and through acquisitions. The Company now offers a variety of energy solutions, which include lithium-ion cells, batteries, and energy storage systems (“Energy Storage”), full powertrain kits for electric vehicles, or EVs (“e-Mobility”), as well as automated machines for industrial use (“Automation Machines”).

Basis of Presentation:

Use of estimates:

Concentrations of supply risks:

As of June 30, 2023, and December 31, 2022, two contract manufacturers collectively accounted for 45.4% and 34.3% of the Company’s total trade payables, net, respectively.

New accounting standards updates:

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 13: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

	June 30, 2023		December 31, 2022
Accrued expenses	$	107,902	$	117,638
Government authorities		76,995		67,514
Operating lease liabilities		16,738		16,183
Accrual for sales incentives		5,439		6,790
Finance lease		3,123		3,263
Other		3,936		2,724
Total accrued expenses and other current liabilities	$	214,133	$	214,112

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

6 Months Ended

Jun. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of prepaid expenses and other current assets

	June 30, 2023		December 31, 2022
Vendor non-trade receivables (*)	$	141,810	$	147,597
Government authorities		78,963		55,670
Prepaid expenses and other		43,415		37,815
Total prepaid expenses and other current assets	$	264,188	$	241,082

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Gains (Losses) on Derivative Instruments Recognized in our Income Statements) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Non Designated Hedging Instruments [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Gains (losses) on derivative instruments	$ 0	$ 3,009	$ 0	$ 3,943
Designated Hedging Instruments [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Gains (losses) on derivative instruments	$ (2,091)	$ (6,351)	$ (4,148)	$ (7,529)

WARRANTY OBLIGATIONS

6 Months Ended

Jun. 30, 2023

Product Warranties Disclosures [Abstract]

WARRANTY OBLIGATIONS

NOTE 11: WARRANTY OBLIGATIONS

Changes in the Company’s product warranty obligations for the three and six months ended June 30, 2023 and 2022, were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Balance, at the beginning of the period	$	442,971		$	292,666		$	385,057		$	265,160
Additions and adjustments to cost of revenues		89,631			59,061			181,201			106,968
Usage and current warranty expenses		(44,015	)		(27,551	)		(77,671	)		(47,952	)
Balance, at end of the period		488,587			324,176			488,587			324,176
Less current portion		(146,150	)		(91,761	)		(146,150	)		(91,761	)
Long term portion	$	342,437		$	232,415		$	342,437		$	232,415

OTHER OPERATING EXPENSE (INCOME)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

OTHER OPERATING EXPENSE (INCOME)

NOTE 18: OTHER OPERATING EXPENSE (INCOME)

The following table presents the expenses (income) recorded in the three and six months ended June 30, 2023, and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023			2022
Impairment of goodwill and intangible assets	$	-	$	4,008	$	-		$	4,008
Sale of assets		-		-		(1,434	)		-
Write-off of property, plant and equipment		-		679		-			679
Total other operating expense (income), net	$	-	$	4,687	$	(1,434	)	$	4,687

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 119,510	$ 15,084	$ 257,888	$ 48,207
Other comprehensive income (loss), net of tax:
Available-for-sale marketable securities	661	(4,562)	6,838	(14,068)
Cash flow hedges	316	(3,836)	(15)	(4,516)
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment nature	(1,935)	(28,347)	(12,735)	(35,330)
Foreign currency translation adjustments	730	(6,808)	1,589	(8,387)
Total other comprehensive loss	(228)	(43,553)	(4,323)	(62,301)
Comprehensive income (loss)	$ 119,282	$ (28,469)	$ 253,565	$ (14,094)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEFERRED REVENUES AND CUSTOMERS ADVANCES (Schedule Estimated Revenues Expected To Recognized In Future To Performance Obligations) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Deferred revenues	$ 232,828	$ 224,424	$ 213,577	$ 200,695	$ 184,245	$ 169,345
2023 [Member]
Deferred revenues	21,700
2024 [Member]
Deferred revenues	12,038
2025 [Member]
Deferred revenues	10,880
2026 [Member]
Deferred revenues	10,649
2027 [Member]
Deferred revenues	8,668
Thereafter [Member]
Deferred revenues	$ 168,893

ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 2023

Accumulated Other Comprehensive Income Loss [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

NOTE 17: ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table summarizes the changes in accumulated balances of other comprehensive gain (loss), net of taxes:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Unrealized gains (losses) on available-for-sale marketable securities
Beginning balance	$	(19,272	)	$	(14,215	)	$	(25,449	)	$	(4,709	)
Revaluation		793			(5,919	)		8,363			(18,640	)
Tax on revaluation		(132	)		1,357			(1,603	)		3,828
Other comprehensive income (loss) before reclassifications		661			(4,562	)		6,760			14,812
Reclassification		-			-			107			844
Tax on reclassification		-			-			(29	)		(100	)
Losses reclassified from accumulated other comprehensive income (loss)		-			-			78			744
Net current period other comprehensive income (loss)		661			(4,562	)		6,838			(14,068	)
Ending balance	$	(18,611	)	$	(18,777	)	$	(18,611	)	$	(18,777	)
Unrealized gains (losses) on cash flow hedges
Beginning balance	$	(2,092	)	$	194		$	(1,761	)	$	874
Revaluation		(2,229	)		(7,188	)		(4,425	)		(8,525	)
Tax on revaluation		138			837			277			996
Other comprehensive income (loss) before reclassifications		(2,091	)		(6,351	)		(4,148	)		(7,529	)
Reclassification		2,566			2,846			4,406			3,411
Tax on reclassification		(159	)		(331	)		(273	)		(398	)
Losses reclassified from accumulated other comprehensive income (loss)		2,407			2,515			4,133			3,013
Net current period other comprehensive income (loss)		316			(3,836	)		(15	)		(4,516	)
Ending balance	$	(1,776	)	$	(3,642	)	$	(1,776	)	$	(3,642	)
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature
Beginning balance	$	(48,760	)	$	(24,403	)	$	(37,960	)	$	(17,420	)
Revaluation		(1,935	)		(28,347	)		(12,735	)		(35,330	)
Ending balance	$	(50,695	)	$	(52,750	)	$	(50,695	)	$	(52,750	)
Unrealized gains (losses) on foreign currency translation
Beginning balance	$	(7,080	)	$	(7,643	)	$	(7,939	)	$	(6,064	)
Revaluation		730			(6,808	)		1,589			(8,387	)
Ending balance	$	(6,350	)	$	(14,451	)	$	(6,350	)	$	(14,451	)
Total	$	(77,432	)	$	(89,620	)	$	(77,432	)	$	(89,620	)

The following table summarizes the changes in "Accumulated other comprehensive loss", net of taxes:

Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30,						Six Months Ended June 30,						Affected Line Item in the Statement of Income
	2023			2022			2023			2022
Unrealized gains (losses) on available-for-sale marketable securities
	$	-		$	-		$	(107	)	$	(844	)	Financial income (expense), net
		-			-			29			100		Income taxes
	$	-		$	-		$	(78	)	$	(744	)	Total, net of income taxes
Unrealized gains (losses) on cash flow hedges, net
		(303	)		(318	)		(515	)		(385	)	Cost of revenues
		(1,521	)		(1,694	)		(2,650	)		(2,032	)	Research and development
		(310	)		(349	)		(535	)		(420	)	Sales and marketing
		(432	)		(485	)		(706	)		(574	)	General and administrative
	$	(2,566	)	$	(2,846	)	$	(4,406	)	$	(3,411	)	Total, before income taxes
		159			331			273			398		Income taxes
		(2,407	)		(2,515	)		(4,133	)		(3,013	)	Total, net of income taxes
Total reclassifications for the period	$	(2,407	)	$	(2,515	)	$	(4,211	)	$	(3,757	)

STOCK CAPITAL (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Mar. 17, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from secondary public offering, net of issuance costs					$ 0	$ 650,526
Underwriters discounts and commissions				$ 27,140
Offering costs				834
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		10,000,000			10,000,000
Equity based compensation expenses to employees and nonemployees		$ 4,102	$ 3,058		$ 8,298	6,536
Tax benefit realized from share-based compensation		2,619	$ 2,885		5,461	$ 5,812
Unrecognized compensation expense		$ 318,954			$ 318,954
Price of intrinsic value of closing price					$ 269.05
IPO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares sold in public offerings	2,300,000
Per share price of common stock sold	$ 295
IPO [Member] \| Underwriting Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares sold in public offerings	300,000
Proceeds from secondary public offering, net of issuance costs				650,526
Underwriters discounts and commissions				27,140
Offering costs				$ 834
Option [Member] \| Two Thousand Seven Global Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		20,853,755			20,853,755
Number of shares available for future grant under the plan		11,933,444			11,933,444
Option [Member] \| Two Thousand Fifteen Global Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Of Common Shares Increase Automatically Each Year					5.00%
Number of shares available for future grant under the plan		8,617,974			8,617,974		379,358
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		4,150,380			4,150,380
Percentage Of Common Shares Increase Automatically Each Year					1.00%
Period Of Plan Increase Automatically Number Of Shares					487,643
Maximum Percentage Of Salary		15.00%			15.00%
Aggregate Limit Per Participant					$ 15
Purchase price of common stock, percent					85.00%
Number of Common stock purchased					780,370
Number of shares available for future grant under the plan		3,370,010			3,370,010

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Entity Registrant Name	SOLAREDGE TECHNOLOGIES, INC.
Entity Central Index Key	0001419612
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-36894
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5338862
Entity Address, Country	IL
Entity Address, City or Town	Herziliya Pituach
Entity Address, Address Line One	1 HaMada Street
Entity Address, Postal Zip Code	4673335
City Area Code	972
Local Phone Number	(9) 957-6620
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Title of each class	Common stock, par value $0.0001 per share
Trading Symbol	SEDG
Name of Exchange on which Security is Registered	NASDAQ
Entity Common Stock, Shares Outstanding		56,557,816

OTHER OPERATING EXPENSE (INCOME) (Schedule of Other Operating Expense and Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Impairment of goodwill and intangible assets	$ 0	$ 4,008	$ 0	$ 4,008
Sale of assets	0	0	(1,434)	0
Write-off of property, plant and equipment	0	679	0	679
Total other operating expense (income), net	$ 0	$ 4,687	$ (1,434)	$ 4,687

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowances of trade receivable	$ 6,890	$ 3,202
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	125,000,000	125,000,000
Common stock, issued shares	56,556,340	56,133,404
Common stock, outstanding shares	56,556,340	56,133,404

MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2023

Marketable Securities [Abstract]

Schedule of available-for-sale marketable securities

The following is a summary of available-for-sale marketable securities as of June 30, 2023:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	472,687	$	424	$	(10,314	)	$	462,797
U.S. governmental bonds		23,954		-		(248	)		23,706
Non - U.S. governmental bonds		6,840		-		(167	)		6,673
		503,481		424		(10,729	)		493,176
Matures after one year:
Corporate bonds		416,648		583		(13,464	)		403,767
U.S. governmental bonds		27,842		-		(313	)		27,529
Non - U.S. governmental bonds		4,742		-		(238	)		4,504
		449,232		583		(14,015	)		435,800
Total	$	952,713	$	1,007	$	(24,744	)	$	928,976

The following is a summary of available-for-sale marketable securities as of December 31, 2022:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	222,482	$	-	$	(4,657	)	$	217,825
U.S. governmental bonds		15,963		-		(284	)		15,679
Non - U.S. governmental bonds		7,882		-		(269	)		7,613
		246,327		-		(5,210	)		241,117
Matures after one year:
Corporate bonds		657,238		80		(26,460	)		630,858
U.S. governmental bonds		9,939		-		(261	)		9,678
Non - U.S. governmental bonds		5,311		-		(356	)		4,955
		672,488		80		(27,077	)		645,491
Total	$	918,815	$	80	$	(32,287	)	$	886,608

STOCK CAPITAL (Schedule of Stock-based Compensation Expense for Employees and Nonemployee) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 38,965	$ 37,074	$ 78,200	$ 71,181
Total stock-based compensation capitalized	1,013	97	1,848	97
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	5,923	5,286	11,850	10,348
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	17,272	16,819	34,481	31,804
Selling and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	7,822	7,047	15,901	13,748
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	7,948	7,922	15,968	15,281
Inventory [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation capitalized	606	0	1,011	0
Other long-term assets [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation capitalized	$ 407	$ 97	$ 837	$ 97

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2023

Net income per share:

Schedule of computation of basic and diluted net earnings (loss) per share

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic EPS:
Numerator:
Net income	$	119,510	$	15,084	$	257,888	$	48,207
Denominator:
Shares used in computing net EPS of common stock, basic		56,415,636		55,470,279		56,316,116		54,309,060
Diluted EPS:
Numerator:
Net income attributable to common stock, basic	$	119,510	$	15,084	$	257,888	$	48,207
Notes due 2025		536		551		1,072		1,100
Net income attributable to common stock, diluted	$	120,046	$	15,635	$	258,960	$	49,307
Denominator:
Shares used in computing net EPS of common stock, basic		56,415,636		55,470,279		56,316,116		54,309,060
Notes due 2025		2,276,818		2,276,818		2,276,818		2,276,818
Effect of stock-based awards		491,212		817,637		596,368		860,538
Shares used in computing net EPS of common stock, diluted		59,183,666		58,564,734		59,189,302		57,446,416
Earnings per share:
Basic	$	2.12	$	0.27	$	4.58	$	0.89
Diluted	$	2.03	$	0.26	$	4.38	$	0.86

Shares excluded from the calculation of diluted net EPS due to their anti-dilutive effect		491,212		182,715		596,368		203,246

MARKETABLE SECURITIES (Schedule of AFS Marketable Debt Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Available-for-sale - matures within one year, Amortized cost	$ 503,481	$ 246,327
Available-for-sale - matures within one year, Gross unrealized gains	424	0
Available-for-sale - matures within one year, Gross unrealized losses	(10,729)	(5,210)
Available-for-sale - matures within one year, Fair value	493,176	241,117
Available-for-sale - matures after one year, Amortized cost	449,232	672,488
Available-for-sale - matures after one year, Gross unrealized gains	583	80
Available-for-sale - matures after one year, Gross unrealized losses	(14,015)	(27,077)
Available-for-sale - matures after one year, Fair value	435,800	645,491
Amortized cost	952,713	918,815
Gross unrealized gains	1,007	80
Gross unrealized losses	(24,744)	(32,287)
Fair value	928,976	886,608
Corporate bonds [Member]
Available-for-sale - matures within one year, Amortized cost	472,687	222,482
Available-for-sale - matures within one year, Gross unrealized gains	424	0
Available-for-sale - matures within one year, Gross unrealized losses	(10,314)	(4,657)
Available-for-sale - matures within one year, Fair value	462,797	217,825
Available-for-sale - matures after one year, Amortized cost	416,648	657,238
Available-for-sale - matures after one year, Gross unrealized gains	583	80
Available-for-sale - matures after one year, Gross unrealized losses	(13,464)	(26,460)
Available-for-sale - matures after one year, Fair value	403,767	630,858
U.S. governmental bonds [Member]
Available-for-sale - matures within one year, Amortized cost	23,954	15,963
Available-for-sale - matures within one year, Gross unrealized gains	0	0
Available-for-sale - matures within one year, Gross unrealized losses	(248)	(284)
Available-for-sale - matures within one year, Fair value	23,706	15,679
Available-for-sale - matures after one year, Amortized cost	27,842	9,939
Available-for-sale - matures after one year, Gross unrealized gains	0	0
Available-for-sale - matures after one year, Gross unrealized losses	(313)	(261)
Available-for-sale - matures after one year, Fair value	27,529	9,678
Non - U.S. governmental bonds [Member]
Available-for-sale - matures within one year, Amortized cost	6,840	7,882
Available-for-sale - matures within one year, Gross unrealized gains	0	0
Available-for-sale - matures within one year, Gross unrealized losses	(167)	(269)
Available-for-sale - matures within one year, Fair value	6,673	7,613
Available-for-sale - matures after one year, Amortized cost	4,742	5,311
Available-for-sale - matures after one year, Gross unrealized gains	0	0
Available-for-sale - matures after one year, Gross unrealized losses	(238)	(356)
Available-for-sale - matures after one year, Fair value	$ 4,504	$ 4,955

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

NOTE 9: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

During the six months ended June 30, 2023, the Company instituted a foreign currency cash flow hedging program to reduce the risk of a forecasted increase in the value of foreign currency cash flows, resulting from payment of salaries in Israeli currency, the New Israeli Shekels (“NIS”). The Company hedges portions of the anticipated payroll denominated in NIS for a period of one to nine months with hedging contracts. These hedging contracts are designated as cash flow hedges, as defined by ASC 815 and are all effective hedges.

As of June 30, 2023, the Company entered into forward contracts and put and call options to sell U.S. dollars (“USD”) for NIS in the amount of approximately NIS 106.25 million and NIS 216 million, respectively.

In addition to the above-mentioned cash flow hedge transactions, the Company occasionally enters into derivative instrument arrangements to hedge the Company’s exposure to currencies other than the USD. These derivative instruments are not designated as cash flow hedges, as defined by ASC 815, and therefore all gains and losses, resulting from fair value remeasurement, were recorded immediately in the statement of income, under "Financial income (expense), net".

The Company classifies cash flows related to its hedging as operating activities in its condensed consolidated statement of cash flows.

The fair values of outstanding derivative instruments were as follows:

	Balance sheet location	June 30, 2023			December 31, 2022
Derivative liabilities of options and forward contracts:
Designated cash flow hedges	Accrued expenses and other current liabilities	$	(1,893	)	$	(1,874	)

Gains (losses) on derivative instruments are summarized below:

		Three Months Ended June 30,						Six Months Ended June 30,
	Affected line item	2023			2022			2023			2022
Foreign exchange contracts
Non Designated Hedging Instruments	Condensed Consolidated Statements of Income - Financial income (expense), net	$	-		$	3,009		$	-		$	3,943
Designated Hedging Instruments	Condensed Consolidated Statements of Comprehensive Income - Cash flow hedges	$	(2,091	)	$	(6,351	)	$	(4,148	)	$	(7,529	)

See Note 17 for information regarding losses from designated hedging instruments reclassified from accumulated other comprehensive loss.