Shoals Technologies Group Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	475.33	399.21	488.94	326.94	213.21
Revenue Growth (YoY)	19.07%	-18.35%	49.55%	53.34%	21.48%
Cost of Revenue	308.82	257.19	320.64	195.63	130.57
Gross Profit	166.51	142.02	168.3	131.31	82.65
Selling, General & Admin	101.52	82.25	80.72	55.91	37.89
Depreciation & Amortization Expenses	8.6	8.59	8.55	9.07	8.52
Total Operating Expenses	110.12	90.85	89.27	64.98	46.41
Operating Income	56.39	51.17	79.04	66.33	36.23
Interest Income	0.31	0.52	-	-	-
Interest Expense	-9.99	-13.83	-24.1	-18.54	-
Other Non-Operating Income (Expense)	1.85	-	-	104.21	-32.2
Total Non-Operating Income (Expense)	-7.84	-13.31	-24.1	85.67	-32.2
Pretax Income	48.52	37.86	54.94	152	4.03
Provision for Income Taxes	14.94	13.74	12.27	8.99	0.09
Net Income	33.57	24.13	39.97	127.61	2.35
Minority Interest in Earnings	-	-	2.69	15.4	1.6
Net Income to Common	33.57	24.13	39.97	127.61	2.35
Net Income Growth	39.16%	-39.64%	-68.67%	5334.88%	-93.05%
Shares Outstanding (Basic)	167	169	164	168	112
Shares Outstanding (Diluted)	168	169	165	168	112
Shares Change (YoY)	-0.21%	2.57%	-1.86%	49.60%	-30.09%
EPS (Basic)	0.20	0.14	0.24	1.11	-
EPS (Diluted)	0.20	0.14	0.24	0.85	-
EPS Growth	42.86%	-41.67%	-71.77%	-	-
Shares Outstanding	167.45	166.76	170.12	137.9	112.05
Free Cash Flow	-15.98	72	81.38	36.3	-8.21
Free Cash Flow Growth	-	-11.53%	124.17%	-	-
Free Cash Flow Per Share	-0.09	0.43	0.49	0.22	-0.07
Gross Margin	35.03%	35.57%	34.42%	40.16%	38.76%
Operating Margin	11.86%	12.82%	16.16%	20.29%	16.99%
Profit Margin	7.06%	6.04%	8.73%	43.74%	1.85%
FCF Margin	-3.36%	18.03%	16.64%	11.10%	-3.85%
EBITDA	70.2	63.8	89.56	76.84	46.29
EBITDA Margin	14.77%	15.98%	18.32%	23.50%	21.71%
EBIT	56.39	51.17	79.04	66.33	36.23
EBIT Margin	11.86%	12.82%	16.16%	20.29%	16.99%
Effective Tax Rate	30.80%	36.28%	22.34%	5.91%	2.13%

Updated Feb 24, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q