Shoals Technologies Group, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | $33.6M | $24.1M | $40.0M | $127.6M | $2.3M | $33.8M | $25.1M |
| Depreciation & Amortization | $13.8M | $12.6M | $10.5M | $10.5M | $10.1M | $9.4M | $9.2M |
| Depreciation | $6.2M | $5.0M | $2.6M | $1.9M | $1.7M | $1.4M | $1.2M |
| Amortization | $7.6M | $7.6M | $7.9M | $8.7M | $8.4M | $8.0M | $8.0M |
| Stock-Based Compensation | $9.9M | $14.2M | $20.9M | $16.1M | $11.3M | $8.3M | $0 |
| Net Cash from Operating Activities | $17.1M | $80.4M | $92.0M | $39.5M | $-4.1M | $54.1M | $36.2M |
| Investing Activities | |||||||
| Capital Expenditures | $33.0M | $8.4M | $10.6M | $3.2M | $4.1M | $3.2M | $1.7M |
| Business Acquisitions | — | — | $0 | $0 | $12.9M | $0 | $0 |
| Net Cash from Investing Activities | $-28.0M | $-8.4M | $-10.8M | $-3.7M | $-17.0M | $-3.2M | $-1.7M |
| Financing Activities | |||||||
| Dividends Paid | — | — | — | — | — | — | — |
| Stock Repurchases | $0 | $25.3M | $0 | $0 | — | — | — |
| Net Cash from Financing Activities | $-5.3M | $-71.2M | $-67.2M | $-36.6M | $20.6M | $-47.9M | $-27.5M |
| Net Change in Cash | $-16.2M | $804.0K | $13.9M | $-791.0K | $-516.0K | $3.0M | $7.0M |
| Free Cash Flow | $-16.0M | $72.0M | $81.4M | $36.3M | $-8.2M | $50.8M | $34.5M |