Shoals Technologies Group, Inc.SHLSEarnings & Financial Report
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
Revenue
$107.0M
Gross Profit
$40.2M
Operating Profit
$16.5M
Net Profit
$7.8M
Gross Margin
37.6%
Operating Margin
15.4%
Net Margin
7.3%
YoY Growth
-18.0%
EPS
$0.04
Shoals Technologies Group, Inc. Q4 FY2024 Financial Summary
Shoals Technologies Group, Inc. reported revenue of $107.0M (down 18.0% YoY) for Q4 FY2024, with a net profit of $7.8M (down 52.9% YoY) (7.3% margin). Cost of goods sold was $66.8M, operating expenses totaled $23.7M.
Key Financial Metrics
| Total Revenue | $107.0M |
|---|---|
| Net Profit | $7.8M |
| Gross Margin | 37.6% |
| Operating Margin | 15.4% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
Shoals Technologies Group, Inc. Q4 FY2024 revenue of $107.0M breaks down across 2 segments, led by System Solutions at $83.2M (77.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| System Solutions | $83.2M | 77.8% |
| Components | $23.8M | 22.2% |
Shoals Technologies Group, Inc. Revenue by Segment — Quarterly Trend
Shoals Technologies Group, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as System Solutions and Components) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| System Solutions | $122.0M | $110.4M | $84.4M | $57.4M |
| Components | $26.3M | $25.4M | $26.4M | $23.0M |
Shoals Technologies Group, Inc. Annual Revenue by Year
Shoals Technologies Group, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $475.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $475.3M |
| 2024 | $399.2M |
| 2023 | $488.9M |
| 2022 | $326.9M |
Shoals Technologies Group, Inc. Quarterly Revenue & Net Profit History
Shoals Technologies Group, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $148.3M | +38.6% | $8.1M | 5.5% |
| Q3 FY2025 | $135.8M | +32.9% | $11.9M | 8.7% |
| Q2 FY2025 | $110.8M | +11.7% | $13.9M | 12.5% |
| Q1 FY2025 | $80.4M | -11.5% | $-282.0K | -0.4% |
| Q4 FY2024 | $107.0M | -18.0% | $7.8M | 7.3% |
| Q3 FY2024 | $102.2M | -23.9% | $-267.0K | -0.3% |
| Q2 FY2024 | $99.2M | -16.7% | $11.8M | 11.9% |
| Q1 FY2024 | $90.8M | -13.6% | $4.8M | 5.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $90.8M | $99.2M | $102.2M | $107.0M | $80.4M | $110.8M | $135.8M | $148.3M |
| YoY Growth | -13.6% | -16.7% | -23.9% | -18.0% | -11.5% | 11.7% | 32.9% | 38.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $825.3M | $788.4M | $801.3M | $793.1M | $788.4M | $795.0M | $851.8M | $904.1M |
| Liabilities | $271.3M | $243.9M | $256.1M | $236.3M | $229.5M | $219.6M | $262.2M | $304.1M |
| Equity | $554.0M | $544.6M | $545.2M | $556.8M | $558.9M | $575.4M | $589.6M | $600.0M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $12.9M | $37.8M | $15.7M | $14.0M | $15.6M | $-13.8M | $19.4M | $-4.1M |