vs
Side-by-side financial comparison of HIVE Digital Technologies Ltd. (HIVE) 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 $93.1M, roughly 1.6× HIVE Digital Technologies Ltd.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -98.1%, a 103.6% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs 38.6%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs 27.8%).
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
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.
HIVE vs SHLS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.1M | $148.3M |
| Net Profit | $-91.3M | $8.1M |
| Gross Margin | -27.1% | 31.6% |
| Operating Margin | — | 11.7% |
| Net Margin | -98.1% | 5.5% |
| Revenue YoY | 218.6% | 38.6% |
| Net Profit YoY | -234.0% | 3.9% |
| EPS (diluted) | $-0.38 | $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 | $93.1M | $148.3M | ||
| Q3 25 | $87.3M | $135.8M | ||
| Q2 25 | $45.6M | $110.8M | ||
| Q1 25 | — | $80.4M | ||
| Q4 24 | $29.2M | $107.0M | ||
| Q3 24 | $22.6M | $102.2M | ||
| Q2 24 | $32.2M | $99.2M | ||
| Q1 24 | — | $90.8M |
| Q4 25 | $-91.3M | $8.1M | ||
| Q3 25 | $-15.8M | $11.9M | ||
| Q2 25 | $35.0M | $13.9M | ||
| Q1 25 | — | $-282.0K | ||
| Q4 24 | $68.2M | $7.8M | ||
| Q3 24 | $80.0K | $-267.0K | ||
| Q2 24 | $-18.3M | $11.8M | ||
| Q1 24 | — | $4.8M |
| Q4 25 | -27.1% | 31.6% | ||
| Q3 25 | 4.7% | 37.0% | ||
| Q2 25 | -13.6% | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | -43.7% | 37.6% | ||
| Q3 24 | -66.1% | 24.8% | ||
| Q2 24 | -7.4% | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 14.4% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 18.7% | ||
| Q1 24 | — | 12.8% |
| Q4 25 | -98.1% | 5.5% | ||
| Q3 25 | -18.1% | 8.7% | ||
| Q2 25 | 76.8% | 12.5% | ||
| Q1 25 | — | -0.4% | ||
| Q4 24 | 233.2% | 7.3% | ||
| Q3 24 | 0.4% | -0.3% | ||
| Q2 24 | -56.7% | 11.9% | ||
| Q1 24 | — | 5.3% |
| Q4 25 | $-0.38 | $0.05 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $0.18 | $0.08 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | $0.52 | $0.04 | ||
| Q3 24 | $0.00 | $0.00 | ||
| Q2 24 | $-0.17 | $0.07 | ||
| Q1 24 | — | $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 | — | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $559.3M | $600.0M |
| Total Assets | $624.0M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $35.6M | ||
| Q4 24 | $40.5M | $23.5M | ||
| Q3 24 | $31.7M | $11.1M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | — | $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 | $559.3M | $600.0M | ||
| Q3 25 | $624.6M | $589.6M | ||
| Q2 25 | $560.5M | $575.4M | ||
| Q1 25 | — | $558.9M | ||
| Q4 24 | $430.9M | $556.8M | ||
| Q3 24 | $275.5M | $545.2M | ||
| Q2 24 | $268.6M | $544.6M | ||
| Q1 24 | — | $554.0M |
| Q4 25 | $624.0M | $904.1M | ||
| Q3 25 | $693.0M | $851.8M | ||
| Q2 25 | $628.7M | $795.0M | ||
| Q1 25 | — | $788.4M | ||
| Q4 24 | $478.6M | $793.1M | ||
| Q3 24 | $334.7M | $801.3M | ||
| Q2 24 | — | $788.4M | ||
| Q1 24 | — | $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 | $46.0M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.0M | $-4.1M | ||
| Q3 25 | $-10.6M | $19.4M | ||
| Q2 25 | $10.2M | $-13.8M | ||
| Q1 25 | — | $15.6M | ||
| Q4 24 | $-28.5M | $14.0M | ||
| Q3 24 | $-2.2M | $15.7M | ||
| Q2 24 | $-4.4M | $37.8M | ||
| Q1 24 | — | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | $-55.5M | $12.5M | ||
| Q3 24 | $-34.7M | $13.3M | ||
| Q2 24 | — | $35.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | -189.9% | 11.6% | ||
| Q3 24 | -153.4% | 13.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | 92.5% | 1.4% | ||
| Q3 24 | 143.9% | 2.3% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | 0.29× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.42× | 1.79× | ||
| Q3 24 | -26.94× | — | ||
| 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
HIVE
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
