Shoals Technologies Group, Inc. (SHLS)

Shoals Technologies Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	400.35	399.21	488.94	326.94	213.21	175.52
Revenue Growth (YoY)	-11.95%	-18.35%	49.55%	53.34%	21.48%	21.47%
Cost of Revenue	265.45	257.19	320.64	195.63	130.57	108.97
Gross Profit	134.9	142.02	168.3	131.31	82.65	66.55
Selling, General & Admin	77.73	74.96	79.46	55.91	35.54	21.01
Operating Expenses	86.29	83.55	88.01	64.98	44.06	29.27
Operating Income	48.61	58.46	80.3	66.33	38.58	37.28
Interest Expense	-10.74	-13.83	-24.1	-18.54	-14.55	-3.51
Interest & Investment Income	0.4	0.52	-	-	-	-
EBT Excluding Unusual Items	38.27	45.16	56.2	47.79	24.03	33.77
Merger & Restructuring Charges	-	-	-	-	-2.35	-
Legal Settlements	-7.29	-7.29	-1.26	-	-	-
Other Unusual Items	-	-	-	104.21	-17.65	-
Pretax Income	34.11	37.86	54.94	152	4.03	33.77
Income Tax Expense	12.99	13.74	12.27	8.99	0.09	-
Earnings From Continuing Operations	21.12	24.13	42.66	143.01	3.94	33.77
Minority Interest in Earnings	-	-	-2.69	-15.4	-1.6	-
Net Income	21.12	24.13	39.97	127.61	2.35	33.77
Preferred Dividends & Other Adjustments	-	-	-	-	2.68	-
Net Income to Common	21.12	24.13	39.97	127.61	-0.33	33.77
Net Income Growth	-9.46%	-39.64%	-68.67%	5334.88%	-93.05%	34.30%
Shares Outstanding (Basic)	167	169	164	114	99	160
Shares Outstanding (Diluted)	167	169	165	168	99	160
Shares Change (YoY)	-1.80%	2.57%	-1.86%	68.86%	-38.06%	-
EPS (Basic)	0.13	0.14	0.24	1.11	-0.00	0.21
EPS (Diluted)	0.12	0.14	0.24	0.85	-0.00	0.21
EPS Growth	-12.25%	-41.67%	-71.87%	-	-	34.30%
Free Cash Flow	12.09	72	81.38	36.3	-8.21	50.85
Free Cash Flow Per Share	0.07	0.43	0.49	0.22	-0.08	0.32
Gross Margin	33.70%	35.58%	34.42%	40.16%	38.76%	37.91%
Operating Margin	12.14%	14.64%	16.42%	20.29%	18.09%	21.24%
Profit Margin	5.28%	6.04%	8.18%	39.03%	-0.15%	19.24%
Free Cash Flow Margin	3.02%	18.03%	16.64%	11.10%	-3.85%	28.97%
EBITDA	61.68	71.09	90.82	76.84	48.63	46.68
EBITDA Margin	15.40%	17.81%	18.58%	23.50%	22.81%	26.60%
D&A For EBITDA	13.07	12.63	10.53	10.51	10.05	9.41
EBIT	48.61	58.46	80.3	66.33	38.58	37.28
EBIT Margin	12.14%	14.64%	16.42%	20.29%	18.09%	21.24%
Effective Tax Rate	38.07%	36.28%	22.34%	5.91%	2.13%	-

Updated Aug 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q