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Side-by-side financial comparison of Arlo Technologies, Inc. (ARLO) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($148.3M vs $141.3M, roughly 1.0× Arlo Technologies, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 4.1%, a 1.4% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 16.2%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 6.7%).
Arlo Technologies is an American company that makes wireless surveillance cameras. Prior to an initial public offering (IPO) on the New York Stock Exchange in August 2018, Arlo was a brand of such products by Netgear, which retained majority control after the IPO.
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.
ARLO vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $148.3M |
| Net Profit | $5.8M | $8.1M |
| Gross Margin | 46.4% | 31.6% |
| Operating Margin | 3.3% | 11.7% |
| Net Margin | 4.1% | 5.5% |
| Revenue YoY | 16.2% | 38.6% |
| Net Profit YoY | 218.6% | 3.9% |
| EPS (diluted) | $0.06 | $0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $141.3M | $148.3M | ||
| Q3 25 | $139.5M | $135.8M | ||
| Q2 25 | $129.4M | $110.8M | ||
| Q1 25 | $119.1M | $80.4M | ||
| Q4 24 | $121.6M | $107.0M | ||
| Q3 24 | $137.7M | $102.2M | ||
| Q2 24 | $127.4M | $99.2M | ||
| Q1 24 | $124.2M | $90.8M |
| Q4 25 | $5.8M | $8.1M | ||
| Q3 25 | $6.9M | $11.9M | ||
| Q2 25 | $3.1M | $13.9M | ||
| Q1 25 | $-835.0K | $-282.0K | ||
| Q4 24 | $-4.9M | $7.8M | ||
| Q3 24 | $-4.4M | $-267.0K | ||
| Q2 24 | $-11.6M | $11.8M | ||
| Q1 24 | $-9.6M | $4.8M |
| Q4 25 | 46.4% | 31.6% | ||
| Q3 25 | 40.5% | 37.0% | ||
| Q2 25 | 44.9% | 37.2% | ||
| Q1 25 | 44.3% | 35.0% | ||
| Q4 24 | 36.9% | 37.6% | ||
| Q3 24 | 35.2% | 24.8% | ||
| Q2 24 | 36.8% | 40.3% | ||
| Q1 24 | 38.1% | 40.2% |
| Q4 25 | 3.3% | 11.7% | ||
| Q3 25 | 0.6% | 13.7% | ||
| Q2 25 | 1.5% | 14.4% | ||
| Q1 25 | -1.2% | 5.4% | ||
| Q4 24 | -5.0% | 15.4% | ||
| Q3 24 | -4.0% | 4.4% | ||
| Q2 24 | -10.0% | 18.7% | ||
| Q1 24 | -8.5% | 12.8% |
| Q4 25 | 4.1% | 5.5% | ||
| Q3 25 | 4.9% | 8.7% | ||
| Q2 25 | 2.4% | 12.5% | ||
| Q1 25 | -0.7% | -0.4% | ||
| Q4 24 | -4.0% | 7.3% | ||
| Q3 24 | -3.2% | -0.3% | ||
| Q2 24 | -9.1% | 11.9% | ||
| Q1 24 | -7.8% | 5.3% |
| Q4 25 | $0.06 | $0.05 | ||
| Q3 25 | $0.06 | $0.07 | ||
| Q2 25 | $0.03 | $0.08 | ||
| Q1 25 | $-0.01 | $0.00 | ||
| Q4 24 | $-0.05 | $0.04 | ||
| Q3 24 | $-0.04 | $0.00 | ||
| Q2 24 | $-0.12 | $0.07 | ||
| Q1 24 | $-0.10 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $146.4M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $127.8M | $600.0M |
| Total Assets | $310.5M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $146.4M | $7.3M | ||
| Q3 25 | $86.0M | $8.6M | ||
| Q2 25 | $71.2M | $4.7M | ||
| Q1 25 | $84.0M | $35.6M | ||
| Q4 24 | $82.0M | $23.5M | ||
| Q3 24 | $77.0M | $11.1M | ||
| Q2 24 | $62.9M | $3.2M | ||
| Q1 24 | $62.1M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $127.8M | $600.0M | ||
| Q3 25 | $129.2M | $589.6M | ||
| Q2 25 | $118.3M | $575.4M | ||
| Q1 25 | $103.4M | $558.9M | ||
| Q4 24 | $100.9M | $556.8M | ||
| Q3 24 | $96.9M | $545.2M | ||
| Q2 24 | $99.3M | $544.6M | ||
| Q1 24 | $99.9M | $554.0M |
| Q4 25 | $310.5M | $904.1M | ||
| Q3 25 | $350.9M | $851.8M | ||
| Q2 25 | $319.7M | $795.0M | ||
| Q1 25 | $296.6M | $788.4M | ||
| Q4 24 | $298.4M | $793.1M | ||
| Q3 24 | $312.4M | $801.3M | ||
| Q2 24 | $295.8M | $788.4M | ||
| Q1 24 | $289.8M | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $19.8M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 3.43× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.8M | $-4.1M | ||
| Q3 25 | $19.2M | $19.4M | ||
| Q2 25 | $8.8M | $-13.8M | ||
| Q1 25 | $30.9M | $15.6M | ||
| Q4 24 | $6.7M | $14.0M | ||
| Q3 24 | $18.4M | $15.7M | ||
| Q2 24 | $6.5M | $37.8M | ||
| Q1 24 | $19.8M | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | $28.1M | $12.3M | ||
| Q4 24 | $5.6M | $12.5M | ||
| Q3 24 | $17.4M | $13.3M | ||
| Q2 24 | $6.2M | $35.8M | ||
| Q1 24 | $19.4M | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | 23.6% | 15.4% | ||
| Q4 24 | 4.6% | 11.6% | ||
| Q3 24 | 12.6% | 13.0% | ||
| Q2 24 | 4.8% | 36.1% | ||
| Q1 24 | 15.7% | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 0.9% | 1.4% | ||
| Q3 24 | 0.7% | 2.3% | ||
| Q2 24 | 0.2% | 2.0% | ||
| Q1 24 | 0.3% | 2.7% |
| Q4 25 | 3.43× | -0.50× | ||
| Q3 25 | 2.79× | 1.63× | ||
| Q2 25 | 2.83× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARLO
| Subscriptions And Services | $89.4M | 63% |
| Products | $51.9M | 37% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
