Shoals Technologies Group, Inc. (SHLS) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	588.1M	475.3M	399.2M	488.9M	326.9M
Cost of Revenue	400.4M	308.8M	257.2M	320.6M	195.6M
Gross Profit	187.7M	166.5M	142.0M	168.3M	131.3M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	116.2M	101.5M	82.3M	80.7M	55.9M
General & Admin Expense	116.2M	101.5M	82.3M	80.7M	55.9M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	8.9M	8.6M	8.6M	8.6M	9.1M
Total Operating Expenses	125.2M	110.1M	90.8M	89.3M	65.0M
Cost and Expenses	525.5M	418.9M	348.0M	409.9M	260.6M
Operating Income (EBIT)	62.5M	56.4M	51.2M	79.0M	66.3M
Non-Operating
Interest Income	400.0K	305.0K	518.0K	—	—
Interest Expense	11.7M	10.0M	13.8M	24.1M	18.5M
Net Interest Income	(11.3M)	(9.7M)	(13.3M)	(24.1M)	(18.5M)
Other Non-Op Income/Expense	(17.9M)	(7.9M)	(13.3M)	(24.1M)	85.7M
Non-Operating Income (excl Interest)	6.2M	(2.1M)	(518.0K)	—	(104.2M)
EBT (Pre-Tax Income)	44.6M	48.5M	37.9M	54.9M	152.0M
Income Tax Expense	12.8M	14.9M	13.7M	12.3M	9.0M
Bottom Line
Net Income	31.8M	33.6M	24.1M	40.0M	127.6M
Earnings from Cont. Ops	31.8M	33.6M	24.1M	42.7M	143.0M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	31.8M	33.6M	24.1M	40.0M	127.6M
Per Share
Basic EPS	$0.19	$0.20	$0.14	$0.24	$1.11
Diluted EPS	$0.19	$0.20	$0.14	$0.24	$0.85
Revenue Per Share	$3.50	$2.84	$2.37	$2.98	$2.86
Shares
Basic Shares Outstanding	168.1M	167.3M	168.6M	164.2M	114.5M
Diluted Shares Outstanding	170.0M	168.4M	168.7M	164.5M	167.6M
Profitability Metrics
EBITDA	70.6M	67.1M	64.3M	89.6M	181.0M
D&A	14.3M	8.6M	12.6M	10.5M	10.5M
EBIT	56.3M	58.5M	51.7M	79.0M	170.5M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026