Shoals Technologies Group, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $475.3M | $399.2M | $488.9M | $326.9M | $213.2M | $175.5M | $144.5M |
| Cost of Revenue | $308.8M | $257.2M | $320.6M | $195.6M | $130.6M | $109.0M | $100.3M |
| Gross Profit | $166.5M | $142.0M | $168.3M | $131.3M | $82.6M | $66.5M | $44.2M |
| Gross Margin | 35.0% | 35.6% | 34.4% | 40.2% | 38.8% | 37.9% | 30.6% |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | — |
| SG&A Expense | $101.5M | $82.3M | $80.7M | $55.9M | $37.9M | $21.0M | $9.1M |
| Operating Income | $56.4M | $51.2M | $79.0M | $66.3M | $36.2M | $37.3M | $26.9M |
| Operating Margin | 11.9% | 12.8% | 16.2% | 20.3% | 17.0% | 21.2% | 18.6% |
| Interest Expense | — | — | $24.1M | $18.5M | $14.5M | $3.5M | $1.8M |
| Pretax Income | $48.5M | $37.9M | $54.9M | $152.0M | $4.0M | — | — |
| Income Tax Expense | $14.9M | $13.7M | $12.3M | $9.0M | $86.0K | $0 | $0 |
| Net Income | $33.6M | $24.1M | $40.0M | $127.6M | $2.3M | $33.8M | $25.1M |
| Net Margin | 7.1% | 6.0% | 8.2% | 39.0% | 1.1% | 19.2% | 17.4% |
| EPS (Basic) | $0.20 | $0.14 | $0.24 | $1.11 | $0.00 | — | — |
| EPS (Diluted) | $0.20 | $0.14 | $0.24 | $0.85 | $0.00 | — | — |
| Shares Outstanding (Basic) | 167.3M | 168.6M | 164.2M | 114.5M | 99.3M | — | — |
| Shares Outstanding (Diluted) | 168.4M | 168.7M | 164.5M | 167.6M | 99.3M | — | — |
| Dividends Per Share | — | — | — | — | — | — | — |