88 annotations
Page 4 of 5
Approximately 86% of our Q3 microinverter shipments were IQ8.
(No comment added)
Transcript
2023 Q3
28 Dec 23
Q3 is a seasonally down quarter in Europe, and we expect to be slightly down in revenue as compared to Q2
(No comment added)
Transcript
2023 Q2
1 Aug 23
it's on the higher side at about approximately 10 weeks
(No comment added)
Transcript
2023 Q2
1 Aug 23
The inventory level in Europe is a little bit normal
(No comment added)
Transcript
2023 Q2
1 Aug 23
that is why our guide is light for Q3
(No comment added)
Transcript
2023 Q2
1 Aug 23
we are taking a onetime correction for shipments into the channel
(No comment added)
Transcript
2023 Q2
1 Aug 23
We are entering all of those regions.
(No comment added)
Transcript
2023 Q2
1 Aug 23
taly, U.K., Sweden, Denmark, Greece, Austria, Switzerland, Poland
(No comment added)
Transcript
2023 Q2
1 Aug 23
in Q3, we expect Europe to be slightly down compared to Q2
(No comment added)
Transcript
2023 Q2
1 Aug 23
in Q2, we grew about 25% in Europe compared to Q1
(No comment added)
Transcript
2023 Q2
1 Aug 23
Our microinverter sell-through in the U.S. peaked in the fourth quarter of 2022.
(No comment added)
Transcript
2023 Q2
31 Jul 23
The sell-through in the first half of 2023 in both Q1 and Q2 was approximately 20% below the fourth quarter
(No comment added)
Transcript
2023 Q2
31 Jul 23
Our sell-through rate was the highest, and our channel inventory was very healthy at the end of Q4. What happened is the sell-through rates declined overall in the U.S., 20%, with respect to Q4, for Q1 and for Q2.
(No comment added)
Transcript
2023 Q2
31 Jul 23
In the U.S., as I said, we said that the revenue decreased 12% sequentially in Q2 compared to Q1.
(No comment added)
Transcript
2023 Q2
31 Jul 23
And the responsible thing to do, for - from my point, is to take - is to correct that. To do a onetime correction of that to reduce inventory in the channel. The only way we reduce inventory in the channel is by not shipping as much and taking a correction there.
So we are doing that.
We are aggressively reducing the inventory in the channel. And we expect the channel inventory, the weeks on hand, to come back more to normalized levels at the end of Q3.
(No comment added)
Transcript
2023 Q2
31 Jul 23
we find ourselves with excess inventory in the channel
(No comment added)
Transcript
2023 Q2
31 Jul 23
But that was not the case. Q2 sell-through was same as Q1, with respect to Q4.
(No comment added)
Transcript
2023 Q2
31 Jul 23
our sell-in, we only reduced it 10% in Q1, thinking that Q2 will be a seasonally good quarter
(No comment added)
Transcript
2023 Q2
31 Jul 23
So our sell-through of microinverters in the U.S. peaked in the fourth quarter of 2022. The sell-through in Q1 '23 was about 20% below that. And the sell-through in Q2 '23 was at the same level, which is 20% below Q4.
(No comment added)
Transcript
2023 Q2
31 Jul 23
For storage, we have shipped approximately 1-gigawatt hour of battery systems cumulatively by the end of the second quarter.
(No comment added)
Transcript
2023 Q2
31 Jul 23