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Side-by-side financial comparison of HARROW, INC. (HROW) 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 $89.1M, roughly 1.7× HARROW, INC.). HARROW, INC. runs the higher net margin — 7.4% vs 5.5%, a 2.0% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 33.3%). HARROW, INC. produced more free cash flow last quarter ($8.1M vs $-11.3M). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs 27.8%).
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
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.
HROW vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.1M | $148.3M |
| Net Profit | $6.6M | $8.1M |
| Gross Margin | 79.3% | 31.6% |
| Operating Margin | 17.5% | 11.7% |
| Net Margin | 7.4% | 5.5% |
| Revenue YoY | 33.3% | 38.6% |
| Net Profit YoY | -2.2% | 3.9% |
| EPS (diluted) | $0.20 | $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 | $89.1M | $148.3M | ||
| Q3 25 | $71.6M | $135.8M | ||
| Q2 25 | $63.7M | $110.8M | ||
| Q1 25 | $47.8M | $80.4M | ||
| Q4 24 | $66.8M | $107.0M | ||
| Q3 24 | $49.3M | $102.2M | ||
| Q2 24 | $48.9M | $99.2M | ||
| Q1 24 | $34.6M | $90.8M |
| Q4 25 | $6.6M | $8.1M | ||
| Q3 25 | $1.0M | $11.9M | ||
| Q2 25 | $5.0M | $13.9M | ||
| Q1 25 | $-17.8M | $-282.0K | ||
| Q4 24 | $6.8M | $7.8M | ||
| Q3 24 | $-4.2M | $-267.0K | ||
| Q2 24 | $-6.5M | $11.8M | ||
| Q1 24 | $-13.6M | $4.8M |
| Q4 25 | 79.3% | 31.6% | ||
| Q3 25 | 75.3% | 37.0% | ||
| Q2 25 | 74.5% | 37.2% | ||
| Q1 25 | 67.5% | 35.0% | ||
| Q4 24 | 78.8% | 37.6% | ||
| Q3 24 | 75.6% | 24.8% | ||
| Q2 24 | 74.4% | 40.3% | ||
| Q1 24 | 69.5% | 40.2% |
| Q4 25 | 17.5% | 11.7% | ||
| Q3 25 | 20.6% | 13.7% | ||
| Q2 25 | 17.9% | 14.4% | ||
| Q1 25 | -23.5% | 5.4% | ||
| Q4 24 | 19.3% | 15.4% | ||
| Q3 24 | 2.7% | 4.4% | ||
| Q2 24 | 3.1% | 18.7% | ||
| Q1 24 | -20.0% | 12.8% |
| Q4 25 | 7.4% | 5.5% | ||
| Q3 25 | 1.4% | 8.7% | ||
| Q2 25 | 7.8% | 12.5% | ||
| Q1 25 | -37.2% | -0.4% | ||
| Q4 24 | 10.1% | 7.3% | ||
| Q3 24 | -8.6% | -0.3% | ||
| Q2 24 | -13.2% | 11.9% | ||
| Q1 24 | -39.2% | 5.3% |
| Q4 25 | $0.20 | $0.05 | ||
| Q3 25 | $0.03 | $0.07 | ||
| Q2 25 | $0.13 | $0.08 | ||
| Q1 25 | $-0.50 | $0.00 | ||
| Q4 24 | $0.19 | $0.04 | ||
| Q3 24 | $-0.12 | $0.00 | ||
| Q2 24 | $-0.18 | $0.07 | ||
| Q1 24 | $-0.38 | $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 | $72.9M | $7.3M |
| Total DebtLower is stronger | $250.0M | — |
| Stockholders' EquityBook value | $52.4M | $600.0M |
| Total Assets | $399.5M | $904.1M |
| Debt / EquityLower = less leverage | 4.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.9M | $7.3M | ||
| Q3 25 | $74.3M | $8.6M | ||
| Q2 25 | $53.0M | $4.7M | ||
| Q1 25 | $66.7M | $35.6M | ||
| Q4 24 | $47.2M | $23.5M | ||
| Q3 24 | $72.6M | $11.1M | ||
| Q2 24 | $71.0M | $3.2M | ||
| Q1 24 | $76.0M | $15.2M |
| Q4 25 | $250.0M | — | ||
| Q3 25 | $347.2M | — | ||
| Q2 25 | $250.6M | — | ||
| Q1 25 | $256.9M | $141.8M | ||
| Q4 24 | $262.7M | $141.8M | ||
| Q3 24 | $230.7M | $141.8M | ||
| Q2 24 | $236.3M | $146.8M | ||
| Q1 24 | $243.4M | $168.8M |
| Q4 25 | $52.4M | $600.0M | ||
| Q3 25 | $47.0M | $589.6M | ||
| Q2 25 | $49.7M | $575.4M | ||
| Q1 25 | $56.5M | $558.9M | ||
| Q4 24 | $69.7M | $556.8M | ||
| Q3 24 | $58.0M | $545.2M | ||
| Q2 24 | $58.5M | $544.6M | ||
| Q1 24 | $60.6M | $554.0M |
| Q4 25 | $399.5M | $904.1M | ||
| Q3 25 | $363.1M | $851.8M | ||
| Q2 25 | $345.0M | $795.0M | ||
| Q1 25 | $364.2M | $788.4M | ||
| Q4 24 | $389.0M | $793.1M | ||
| Q3 24 | $351.5M | $801.3M | ||
| Q2 24 | $306.6M | $788.4M | ||
| Q1 24 | $295.5M | $825.3M |
| Q4 25 | 4.77× | — | ||
| Q3 25 | 7.39× | — | ||
| Q2 25 | 5.05× | — | ||
| Q1 25 | 4.55× | 0.25× | ||
| Q4 24 | 3.77× | 0.25× | ||
| Q3 24 | 3.98× | 0.26× | ||
| Q2 24 | 4.04× | 0.27× | ||
| Q1 24 | 4.02× | 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 | $8.4M | $-4.1M |
| Free Cash FlowOCF − Capex | $8.1M | $-11.3M |
| FCF MarginFCF / Revenue | 9.1% | -7.6% |
| Capex IntensityCapex / Revenue | 0.4% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.27× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $43.0M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.4M | $-4.1M | ||
| Q3 25 | $16.6M | $19.4M | ||
| Q2 25 | $-803.0K | $-13.8M | ||
| Q1 25 | $19.7M | $15.6M | ||
| Q4 24 | $-17.8M | $14.0M | ||
| Q3 24 | $3.0M | $15.7M | ||
| Q2 24 | $-2.7M | $37.8M | ||
| Q1 24 | $-4.6M | $12.9M |
| Q4 25 | $8.1M | $-11.3M | ||
| Q3 25 | $16.4M | $9.0M | ||
| Q2 25 | $-969.0K | $-26.0M | ||
| Q1 25 | $19.5M | $12.3M | ||
| Q4 24 | $-18.3M | $12.5M | ||
| Q3 24 | $2.3M | $13.3M | ||
| Q2 24 | $-3.1M | $35.8M | ||
| Q1 24 | $-4.7M | $10.4M |
| Q4 25 | 9.1% | -7.6% | ||
| Q3 25 | 22.9% | 6.6% | ||
| Q2 25 | -1.5% | -23.5% | ||
| Q1 25 | 40.8% | 15.4% | ||
| Q4 24 | -27.4% | 11.6% | ||
| Q3 24 | 4.8% | 13.0% | ||
| Q2 24 | -6.3% | 36.1% | ||
| Q1 24 | -13.6% | 11.4% |
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 0.3% | 7.7% | ||
| Q2 25 | 0.3% | 11.0% | ||
| Q1 25 | 0.4% | 4.0% | ||
| Q4 24 | 0.8% | 1.4% | ||
| Q3 24 | 1.2% | 2.3% | ||
| Q2 24 | 0.7% | 2.0% | ||
| Q1 24 | 0.3% | 2.7% |
| Q4 25 | 1.27× | -0.50× | ||
| Q3 25 | 16.26× | 1.63× | ||
| Q2 25 | -0.16× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | -2.62× | 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
HROW
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
