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Side-by-side financial comparison of Core Scientific, Inc. (CORZ) 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 ($140.6M vs $79.8M, roughly 1.8× Core Scientific, Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs -0.2%, a 268.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (74.9% vs -16.0%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (19.0% CAGR vs -33.3%).
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
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.
CORZ vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $79.8M | $140.6M |
| Net Profit | $214.2M | $-297.0K |
| Gross Margin | 26.0% | 29.2% |
| Operating Margin | -149.5% | 5.5% |
| Net Margin | 268.5% | -0.2% |
| Revenue YoY | -16.0% | 74.9% |
| Net Profit YoY | 180.6% | -5.3% |
| EPS (diluted) | $-1.63 | $0.00 |
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.
| Q1 26 | — | $140.6M | ||
| Q4 25 | $79.8M | $148.3M | ||
| Q3 25 | $81.1M | $135.8M | ||
| Q2 25 | $78.6M | $110.8M | ||
| Q1 25 | $79.5M | $80.4M | ||
| Q4 24 | $94.9M | $107.0M | ||
| Q3 24 | $95.4M | $102.2M | ||
| Q2 24 | $141.1M | $99.2M |
| Q1 26 | — | $-297.0K | ||
| Q4 25 | $214.2M | $8.1M | ||
| Q3 25 | $-144.0M | $11.9M | ||
| Q2 25 | $-936.8M | $13.9M | ||
| Q1 25 | $576.3M | $-282.0K | ||
| Q4 24 | $-265.5M | $7.8M | ||
| Q3 24 | $-455.3M | $-267.0K | ||
| Q2 24 | $-902.2M | $11.8M |
| Q1 26 | — | 29.2% | ||
| Q4 25 | 26.0% | 31.6% | ||
| Q3 25 | 4.8% | 37.0% | ||
| Q2 25 | 6.4% | 37.2% | ||
| Q1 25 | 10.3% | 35.0% | ||
| Q4 24 | 5.0% | 37.6% | ||
| Q3 24 | -0.2% | 24.8% | ||
| Q2 24 | 27.5% | 40.3% |
| Q1 26 | — | 5.5% | ||
| Q4 25 | -149.5% | 11.7% | ||
| Q3 25 | -67.6% | 13.7% | ||
| Q2 25 | -33.4% | 14.4% | ||
| Q1 25 | -59.1% | 5.4% | ||
| Q4 24 | -41.9% | 15.4% | ||
| Q3 24 | -43.2% | 4.4% | ||
| Q2 24 | -64.3% | 18.7% |
| Q1 26 | — | -0.2% | ||
| Q4 25 | 268.5% | 5.5% | ||
| Q3 25 | -177.6% | 8.7% | ||
| Q2 25 | -1191.4% | 12.5% | ||
| Q1 25 | 724.6% | -0.4% | ||
| Q4 24 | -279.7% | 7.3% | ||
| Q3 24 | -477.4% | -0.3% | ||
| Q2 24 | -639.4% | 11.9% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $-1.63 | $0.05 | ||
| Q3 25 | $-0.45 | $0.07 | ||
| Q2 25 | $-0.04 | $0.08 | ||
| Q1 25 | $1.24 | $0.00 | ||
| Q4 24 | $0.51 | $0.04 | ||
| Q3 24 | $-1.17 | $0.00 | ||
| Q2 24 | $-5.05 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $311.4M | $1.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-962.7M | $601.6M |
| Total Assets | $2.3B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.9M | ||
| Q4 25 | $311.4M | $7.3M | ||
| Q3 25 | $453.4M | $8.6M | ||
| Q2 25 | $581.3M | $4.7M | ||
| Q1 25 | $697.9M | $35.6M | ||
| Q4 24 | $836.2M | $23.5M | ||
| Q3 24 | $253.0M | $11.1M | ||
| Q2 24 | $96.1M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M |
| Q1 26 | — | $601.6M | ||
| Q4 25 | $-962.7M | $600.0M | ||
| Q3 25 | $-1.3B | $589.6M | ||
| Q2 25 | $-1.2B | $575.4M | ||
| Q1 25 | $-308.8M | $558.9M | ||
| Q4 24 | $-943.0M | $556.8M | ||
| Q3 24 | $-826.7M | $545.2M | ||
| Q2 24 | $-1.2B | $544.6M |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $2.3B | $904.1M | ||
| Q3 25 | $2.2B | $851.8M | ||
| Q2 25 | $1.9B | $795.0M | ||
| Q1 25 | $1.5B | $788.4M | ||
| Q4 24 | $1.5B | $793.1M | ||
| Q3 24 | $824.6M | $801.3M | ||
| Q2 24 | $664.2M | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× |
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 | $278.3M | — |
| Free Cash FlowOCF − Capex | $-450.8M | — |
| FCF MarginFCF / Revenue | -565.1% | — |
| Capex IntensityCapex / Revenue | 914.0% | — |
| Cash ConversionOCF / Net Profit | 1.30× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-779.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $278.3M | $-4.1M | ||
| Q3 25 | $131.8M | $19.4M | ||
| Q2 25 | $34.0M | $-13.8M | ||
| Q1 25 | $-45.0M | $15.6M | ||
| Q4 24 | $42.9M | $14.0M | ||
| Q3 24 | $5.7M | $15.7M | ||
| Q2 24 | $1.2M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-450.8M | $-11.3M | ||
| Q3 25 | $-112.7M | $9.0M | ||
| Q2 25 | $-87.3M | $-26.0M | ||
| Q1 25 | $-129.0M | $12.3M | ||
| Q4 24 | $-52.1M | $12.5M | ||
| Q3 24 | $-25.5M | $13.3M | ||
| Q2 24 | $-1.9M | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | -565.1% | -7.6% | ||
| Q3 25 | -139.0% | 6.6% | ||
| Q2 25 | -111.0% | -23.5% | ||
| Q1 25 | -162.2% | 15.4% | ||
| Q4 24 | -54.8% | 11.6% | ||
| Q3 24 | -26.7% | 13.0% | ||
| Q2 24 | -1.4% | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | 914.0% | 4.8% | ||
| Q3 25 | 301.5% | 7.7% | ||
| Q2 25 | 154.2% | 11.0% | ||
| Q1 25 | 105.6% | 4.0% | ||
| Q4 24 | 100.0% | 1.4% | ||
| Q3 24 | 32.7% | 2.3% | ||
| Q2 24 | 2.2% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.30× | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
SHLS
Segment breakdown not available.
