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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). 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 $103.6M, roughly 1.4× TACTILE SYSTEMS TECHNOLOGY INC). TACTILE SYSTEMS TECHNOLOGY INC runs the higher net margin — 10.3% vs 5.5%, a 4.8% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 21.0%). TACTILE SYSTEMS TECHNOLOGY INC produced more free cash flow last quarter ($16.8M vs $-11.3M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% CAGR vs 27.8%).
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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
SHLS vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $103.6M |
| Net Profit | $8.1M | $10.6M |
| Gross Margin | 31.6% | 78.2% |
| Operating Margin | 11.7% | 18.1% |
| Net Margin | 5.5% | 10.3% |
| Revenue YoY | 38.6% | 21.0% |
| Net Profit YoY | 3.9% | 9.4% |
| EPS (diluted) | $0.05 | $0.45 |
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 | $148.3M | $103.6M | ||
| Q3 25 | $135.8M | $85.8M | ||
| Q2 25 | $110.8M | $78.9M | ||
| Q1 25 | $80.4M | $61.3M | ||
| Q4 24 | $107.0M | $85.6M | ||
| Q3 24 | $102.2M | $73.1M | ||
| Q2 24 | $99.2M | $73.2M | ||
| Q1 24 | $90.8M | $61.1M |
| Q4 25 | $8.1M | $10.6M | ||
| Q3 25 | $11.9M | $8.2M | ||
| Q2 25 | $13.9M | $3.2M | ||
| Q1 25 | $-282.0K | $-3.0M | ||
| Q4 24 | $7.8M | $9.7M | ||
| Q3 24 | $-267.0K | $5.2M | ||
| Q2 24 | $11.8M | $4.3M | ||
| Q1 24 | $4.8M | $-2.2M |
| Q4 25 | 31.6% | 78.2% | ||
| Q3 25 | 37.0% | 75.8% | ||
| Q2 25 | 37.2% | 74.5% | ||
| Q1 25 | 35.0% | 74.0% | ||
| Q4 24 | 37.6% | 75.2% | ||
| Q3 24 | 24.8% | 75.0% | ||
| Q2 24 | 40.3% | 73.9% | ||
| Q1 24 | 40.2% | 71.1% |
| Q4 25 | 11.7% | 18.1% | ||
| Q3 25 | 13.7% | 12.8% | ||
| Q2 25 | 14.4% | 5.2% | ||
| Q1 25 | 5.4% | -7.4% | ||
| Q4 24 | 15.4% | 14.6% | ||
| Q3 24 | 4.4% | 9.3% | ||
| Q2 24 | 18.7% | 8.0% | ||
| Q1 24 | 12.8% | -4.9% |
| Q4 25 | 5.5% | 10.3% | ||
| Q3 25 | 8.7% | 9.6% | ||
| Q2 25 | 12.5% | 4.1% | ||
| Q1 25 | -0.4% | -4.9% | ||
| Q4 24 | 7.3% | 11.4% | ||
| Q3 24 | -0.3% | 7.1% | ||
| Q2 24 | 11.9% | 5.9% | ||
| Q1 24 | 5.3% | -3.6% |
| Q4 25 | $0.05 | $0.45 | ||
| Q3 25 | $0.07 | $0.36 | ||
| Q2 25 | $0.08 | $0.14 | ||
| Q1 25 | $0.00 | $-0.13 | ||
| Q4 24 | $0.04 | $0.40 | ||
| Q3 24 | $0.00 | $0.21 | ||
| Q2 24 | $0.07 | $0.18 | ||
| Q1 24 | $0.03 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $600.0M | $218.9M |
| Total Assets | $904.1M | $273.9M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $83.4M | ||
| Q3 25 | $8.6M | $66.0M | ||
| Q2 25 | $4.7M | $81.5M | ||
| Q1 25 | $35.6M | $83.6M | ||
| Q4 24 | $23.5M | $94.4M | ||
| Q3 24 | $11.1M | $82.1M | ||
| Q2 24 | $3.2M | $73.6M | ||
| Q1 24 | $15.2M | $60.7M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | — | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | — | ||
| Q3 24 | $141.8M | $27.0M | ||
| Q2 24 | $146.8M | $27.8M | ||
| Q1 24 | $168.8M | $28.5M |
| Q4 25 | $600.0M | $218.9M | ||
| Q3 25 | $589.6M | $204.9M | ||
| Q2 25 | $575.4M | $194.9M | ||
| Q1 25 | $558.9M | $205.6M | ||
| Q4 24 | $556.8M | $216.6M | ||
| Q3 24 | $545.2M | $207.9M | ||
| Q2 24 | $544.6M | $200.7M | ||
| Q1 24 | $554.0M | $193.5M |
| Q4 25 | $904.1M | $273.9M | ||
| Q3 25 | $851.8M | $259.2M | ||
| Q2 25 | $795.0M | $273.0M | ||
| Q1 25 | $788.4M | $280.2M | ||
| Q4 24 | $793.1M | $297.9M | ||
| Q3 24 | $801.3M | $287.7M | ||
| Q2 24 | $788.4M | $278.8M | ||
| Q1 24 | $825.3M | $272.0M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | 0.26× | 0.13× | ||
| Q2 24 | 0.27× | 0.14× | ||
| Q1 24 | 0.30× | 0.15× |
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 | $-4.1M | $17.3M |
| Free Cash FlowOCF − Capex | $-11.3M | $16.8M |
| FCF MarginFCF / Revenue | -7.6% | 16.2% |
| Capex IntensityCapex / Revenue | 4.8% | 0.5% |
| Cash ConversionOCF / Net Profit | -0.50× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.1M | $17.3M | ||
| Q3 25 | $19.4M | $10.3M | ||
| Q2 25 | $-13.8M | $14.8M | ||
| Q1 25 | $15.6M | $417.0K | ||
| Q4 24 | $14.0M | $16.3M | ||
| Q3 24 | $15.7M | $10.3M | ||
| Q2 24 | $37.8M | $13.1M | ||
| Q1 24 | $12.9M | $924.0K |
| Q4 25 | $-11.3M | $16.8M | ||
| Q3 25 | $9.0M | $9.2M | ||
| Q2 25 | $-26.0M | $14.4M | ||
| Q1 25 | $12.3M | $38.0K | ||
| Q4 24 | $12.5M | $15.9M | ||
| Q3 24 | $13.3M | $9.3M | ||
| Q2 24 | $35.8M | $12.6M | ||
| Q1 24 | $10.4M | $442.0K |
| Q4 25 | -7.6% | 16.2% | ||
| Q3 25 | 6.6% | 10.8% | ||
| Q2 25 | -23.5% | 18.2% | ||
| Q1 25 | 15.4% | 0.1% | ||
| Q4 24 | 11.6% | 18.5% | ||
| Q3 24 | 13.0% | 12.7% | ||
| Q2 24 | 36.1% | 17.3% | ||
| Q1 24 | 11.4% | 0.7% |
| Q4 25 | 4.8% | 0.5% | ||
| Q3 25 | 7.7% | 1.3% | ||
| Q2 25 | 11.0% | 0.5% | ||
| Q1 25 | 4.0% | 0.6% | ||
| Q4 24 | 1.4% | 0.5% | ||
| Q3 24 | 2.3% | 1.3% | ||
| Q2 24 | 2.0% | 0.7% | ||
| Q1 24 | 2.7% | 0.8% |
| Q4 25 | -0.50× | 1.63× | ||
| Q3 25 | 1.63× | 1.26× | ||
| Q2 25 | -1.00× | 4.59× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.79× | 1.68× | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | 3.21× | 3.06× | ||
| Q1 24 | 2.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
