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Side-by-side financial comparison of BRC Inc. (BRCC) 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 $112.7M, roughly 1.3× BRC Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -2.8%, a 8.3% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 6.5%). BRC Inc. produced more free cash flow last quarter ($-9.4M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 7.0%).
BRC Inc., operating under the Black Rifle Coffee brand, is a U.S.-headquartered premium coffee and lifestyle brand. It sells roasted coffee beans, ready-to-drink coffee products, branded apparel, and outdoor gear, targeting primarily veteran, first responder, and outdoor enthusiast consumer segments across North America, via both e-commerce and physical retail channels.
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.
BRCC vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $148.3M |
| Net Profit | $-3.2M | $8.1M |
| Gross Margin | 32.1% | 31.6% |
| Operating Margin | -6.3% | 11.7% |
| Net Margin | -2.8% | 5.5% |
| Revenue YoY | 6.5% | 38.6% |
| Net Profit YoY | -29.3% | 3.9% |
| EPS (diluted) | $-0.02 | $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 | $112.7M | $148.3M | ||
| Q3 25 | $100.7M | $135.8M | ||
| Q2 25 | $94.8M | $110.8M | ||
| Q1 25 | $90.0M | $80.4M | ||
| Q4 24 | $105.9M | $107.0M | ||
| Q3 24 | $98.2M | $102.2M | ||
| Q2 24 | $89.0M | $99.2M | ||
| Q1 24 | $98.4M | $90.8M |
| Q4 25 | $-3.2M | $8.1M | ||
| Q3 25 | $-486.0K | $11.9M | ||
| Q2 25 | $-5.3M | $13.9M | ||
| Q1 25 | $-2.9M | $-282.0K | ||
| Q4 24 | $-2.5M | $7.8M | ||
| Q3 24 | $-535.0K | $-267.0K | ||
| Q2 24 | $-482.0K | $11.8M | ||
| Q1 24 | $548.0K | $4.8M |
| Q4 25 | 32.1% | 31.6% | ||
| Q3 25 | 36.9% | 37.0% | ||
| Q2 25 | 33.9% | 37.2% | ||
| Q1 25 | 36.1% | 35.0% | ||
| Q4 24 | 38.1% | 37.6% | ||
| Q3 24 | 42.1% | 24.8% | ||
| Q2 24 | 41.9% | 40.3% | ||
| Q1 24 | 42.9% | 40.2% |
| Q4 25 | -6.3% | 11.7% | ||
| Q3 25 | 0.5% | 13.7% | ||
| Q2 25 | -13.3% | 14.4% | ||
| Q1 25 | -6.0% | 5.4% | ||
| Q4 24 | -2.1% | 15.4% | ||
| Q3 24 | 1.1% | 4.4% | ||
| Q2 24 | 1.1% | 18.7% | ||
| Q1 24 | 4.0% | 12.8% |
| Q4 25 | -2.8% | 5.5% | ||
| Q3 25 | -0.5% | 8.7% | ||
| Q2 25 | -5.6% | 12.5% | ||
| Q1 25 | -3.2% | -0.4% | ||
| Q4 24 | -2.3% | 7.3% | ||
| Q3 24 | -0.5% | -0.3% | ||
| Q2 24 | -0.5% | 11.9% | ||
| Q1 24 | 0.6% | 5.3% |
| Q4 25 | $-0.02 | $0.05 | ||
| Q3 25 | $0.00 | $0.07 | ||
| Q2 25 | $-0.07 | $0.08 | ||
| Q1 25 | $-0.04 | $0.00 | ||
| Q4 24 | $-0.03 | $0.04 | ||
| Q3 24 | $-0.01 | $0.00 | ||
| Q2 24 | $-0.01 | $0.07 | ||
| Q1 24 | $0.01 | $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 | $4.3M | $7.3M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $600.0M |
| Total Assets | $209.2M | $904.1M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $7.3M | ||
| Q3 25 | $9.5M | $8.6M | ||
| Q2 25 | $4.3M | $4.7M | ||
| Q1 25 | $3.9M | $35.6M | ||
| Q4 24 | $6.8M | $23.5M | ||
| Q3 24 | $7.3M | $11.1M | ||
| Q2 24 | $9.6M | $3.2M | ||
| Q1 24 | $4.0M | $15.2M |
| Q4 25 | $34.7M | — | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $72.7M | — | ||
| Q1 25 | $68.8M | $141.8M | ||
| Q4 24 | $65.1M | $141.8M | ||
| Q3 24 | $64.9M | $141.8M | ||
| Q2 24 | $66.5M | $146.8M | ||
| Q1 24 | $61.5M | $168.8M |
| Q4 25 | $45.7M | $600.0M | ||
| Q3 25 | $48.0M | $589.6M | ||
| Q2 25 | $10.1M | $575.4M | ||
| Q1 25 | $11.2M | $558.9M | ||
| Q4 24 | $13.2M | $556.8M | ||
| Q3 24 | $14.5M | $545.2M | ||
| Q2 24 | $14.9M | $544.6M | ||
| Q1 24 | $14.6M | $554.0M |
| Q4 25 | $209.2M | $904.1M | ||
| Q3 25 | $222.4M | $851.8M | ||
| Q2 25 | $225.3M | $795.0M | ||
| Q1 25 | $222.9M | $788.4M | ||
| Q4 24 | $227.4M | $793.1M | ||
| Q3 24 | $233.7M | $801.3M | ||
| Q2 24 | $229.9M | $788.4M | ||
| Q1 24 | $227.2M | $825.3M |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 7.19× | — | ||
| Q1 25 | 6.15× | 0.25× | ||
| Q4 24 | 4.94× | 0.25× | ||
| Q3 24 | 4.47× | 0.26× | ||
| Q2 24 | 4.46× | 0.27× | ||
| Q1 24 | 4.21× | 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 | $-8.7M | $-4.1M |
| Free Cash FlowOCF − Capex | $-9.4M | $-11.3M |
| FCF MarginFCF / Revenue | -8.3% | -7.6% |
| Capex IntensityCapex / Revenue | 0.6% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $-4.1M | ||
| Q3 25 | $6.4M | $19.4M | ||
| Q2 25 | $-3.3M | $-13.8M | ||
| Q1 25 | $-4.1M | $15.6M | ||
| Q4 24 | $2.2M | $14.0M | ||
| Q3 24 | $1.9M | $15.7M | ||
| Q2 24 | $2.3M | $37.8M | ||
| Q1 24 | $4.9M | $12.9M |
| Q4 25 | $-9.4M | $-11.3M | ||
| Q3 25 | $5.6M | $9.0M | ||
| Q2 25 | $-4.3M | $-26.0M | ||
| Q1 25 | $-5.3M | $12.3M | ||
| Q4 24 | $504.0K | $12.5M | ||
| Q3 24 | $-205.0K | $13.3M | ||
| Q2 24 | $147.0K | $35.8M | ||
| Q1 24 | $2.2M | $10.4M |
| Q4 25 | -8.3% | -7.6% | ||
| Q3 25 | 5.5% | 6.6% | ||
| Q2 25 | -4.5% | -23.5% | ||
| Q1 25 | -5.9% | 15.4% | ||
| Q4 24 | 0.5% | 11.6% | ||
| Q3 24 | -0.2% | 13.0% | ||
| Q2 24 | 0.2% | 36.1% | ||
| Q1 24 | 2.2% | 11.4% |
| Q4 25 | 0.6% | 4.8% | ||
| Q3 25 | 0.8% | 7.7% | ||
| Q2 25 | 1.0% | 11.0% | ||
| Q1 25 | 1.3% | 4.0% | ||
| Q4 24 | 1.6% | 1.4% | ||
| Q3 24 | 2.2% | 2.3% | ||
| Q2 24 | 2.4% | 2.0% | ||
| Q1 24 | 2.8% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | 8.97× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
