SolarEdge Technologies announced its financial results for the fiscal first quarter ended September 30, 2015. The company reported revenues rapidly increased quarter-on-quarter and year-on-year, and the gross margin was also increased. New HD Wave inverter technology and stronger market demands explain the company’s financial increase.

Fiscal First Quarter 2016 Highlights

• Record revenue of $115.1 million, up 16.9% from last quarter and 71.8% year-over-year
• GAAP gross margin of 29.1%
• GAAP net income of $14.4 million
• Non-GAAP net income of $16.3 million
• 356 Megawatts (AC) of inverters shipped

Read the full report: SolarEdge Announces Fiscal First Quarter Financial Results