Explanatory Note: The press release issued on the morning of February 24, 2026 included language regarding changes in customer order patterns and an intention to suspend quarterly guidance. This language was included in error. The Company hereby clarifies that it has not experienced recent changes in customer order patterns in any material respect. The Company also confirms that it is not suspending quarterly guidance, and intends to continue providing quarterly guidance consistent with its current practice ...

Core Insights - Shoals Technologies Group, Inc. reported record quarterly revenue of $135.8 million, marking a 32.9% increase year over year [1][4] - The company achieved a gross margin of 37.0% and an operating profit of $18.7 million [1][7] - Adjusted EBITDA for the quarter was $32.0 million, up from $24.5 million in the prior year [1][7] - The backlog and awarded orders reached a record $720.9 million, reflecting a 21.0% increase compared to the previous year [1][10] Financial Performance - Revenue increased to $135.8 million from $102.2 million in the prior-year period, driven by strong demand and market share initiatives [4] - Gross profit rose to $50.3 million, with a gross profit percentage of 37.0%, compared to 24.8% in the prior-year period [5][33] - General and administrative expenses increased to $29.4 million, primarily due to legal expenses and incentive compensation [6] - Net income was reported at $11.9 million, compared to a loss of $0.3 million in the prior-year period, with earnings per share of $0.07 [7][29] Backlog and Orders - The backlog and awarded orders as of September 30, 2025, were $720.9 million, indicating a 21.0% year-over-year increase and a 7.4% sequential increase from June 30, 2025 [9][10] - International markets contributed over 11.5% to the backlog and awarded orders, showcasing growth in these areas [10] Outlook - The company provided a revenue outlook for the fourth quarter of 2025, expecting revenue in the range of $140.0 million to $150.0 million and adjusted EBITDA between $35.0 million and $40.0 million [16] - For the full year 2025, revenue is expected to be between $467.0 million and $477.0 million, with adjusted EBITDA projected at $105.0 million to $110.0 million [16]

Core Insights - Shoals Technologies Group, Inc. reported a quarterly revenue of $110.8 million, reflecting an 11.7% year-over-year increase, driven by strong demand and project volume [1][5] - The company achieved a gross margin of 37.2% and an operating profit of $16.0 million, although gross profit as a percentage of revenue decreased from 40.3% in the prior year [6][8] - The backlog and awarded orders reached a record level of $671.3 million, indicating a 4.4% increase compared to the previous year, showcasing consistent demand for the company's products [10] Financial Performance - Revenue for the second quarter of 2025 was $110.8 million, up from $99.2 million in the same period last year [5] - Gross profit was $41.2 million, slightly higher than $40.0 million in the prior-year period, but the gross margin percentage decreased to 37.2% from 40.3% [6][8] - Net income increased to $13.9 million from $11.8 million year-over-year, with earnings per share rising to $0.08 from $0.07 [8][29] Operational Highlights - General and administrative expenses rose to $23.1 million, primarily due to increased legal expenses related to ongoing litigation [7] - Adjusted EBITDA for the quarter was $24.5 million, down from $27.7 million in the prior-year period [8] - The company is optimistic about the demand environment and has increased its revenue guidance for the full year 2025 [3][12] Market Position - Shoals Technologies Group is recognized as a leading provider of electrical balance of system solutions and components for the global energy transition market [14] - The company has a significant presence in the renewable energy industry, with solutions deployed on over 70 GW of solar systems globally [14] - The strategic focus on core domestic utility-scale markets is yielding positive results, with growth initiatives expanding exposure to new markets and applications [2][3]

Core Insights - Shoals Technologies Group, Inc. reported a quarterly revenue of $80.4 million, a decrease of 11.5% compared to the prior-year period, primarily due to strategic pricing actions and customer mix [5][8] - The company achieved a gross margin of 35.0%, down from 40.2% in the prior-year period, reflecting similar challenges as revenue [6][8] - The net loss for the quarter was $(0.3) million, compared to a net income of $4.8 million in the prior-year period [8][10] - Adjusted EBITDA decreased to $12.8 million from $20.5 million year-over-year [8][10] - The backlog and awarded orders increased by 5% year-over-year to $645.1 million, indicating strong demand for the company's products [11] Financial Performance - Revenue for the first quarter of 2025 was $80.4 million, down from $90.8 million in the same quarter of 2024 [5][31] - Gross profit was $28.1 million, compared to $36.5 million in the prior-year period, with a gross profit margin of 35.0% [6][31] - General and administrative expenses decreased to $21.7 million from $22.8 million, primarily due to a reduction in legal expenses [7][31] - The company reported an adjusted net income of $5.2 million, down from $12.6 million in the prior-year period [10][42] Backlog and Orders - The backlog and awarded orders as of March 31, 2025, were $645.1 million, reflecting a 4.9% increase year-over-year and a 1.6% increase sequentially from December 31, 2024 [11] - Approximately $500 million of the backlog is scheduled for the upcoming four quarters, indicating strong future revenue potential [2][11] Market Outlook - The company provided an outlook for the second quarter and full year 2025, citing near-term uncertainty in the utility-scale solar market [13][17] - Despite current market volatility, the company believes the fundamentals of its industry remain strong, with ongoing projects and positive business opportunities [3][11]