Shoals Technologies Group, Inc. reported a revenue of $110.8 million for the three months ended June 30, 2025, marking an increase of 11.7% from $99.2 million in the same period last year. For the six months ending June 30, 2025, revenue reached $191.2 million, a slight increase of 0.6% compared to $190.1 million for the same period in 2024. The company's net income for the second quarter was $13.9 million, up 17.4% from $11.8 million in the prior year, while net income for the first half of 2025 was $13.6 million, down 18.1% from $16.6 million in 2024. The gross profit margin decreased to 37.2% in Q2 2025 from 40.3% in Q2 2024, attributed to strategic pricing actions and changes in customer and product mix.
In terms of operational metrics, Shoals reported a backlog of $671.3 million as of June 30, 2025, which includes $260.9 million in signed purchase orders and $410.4 million in awarded orders. This backlog represents a 4.4% increase year-over-year. The company has also expanded its workforce, increasing its employee count from 155 to 177 over the past year, reflecting its growth strategy and commitment to meeting rising demand in the solar energy sector.
The company has faced challenges, particularly related to the wire insulation shrinkback issue, which has led to increased legal and warranty expenses. General and administrative expenses rose by 20% in Q2 2025, primarily due to legal costs associated with ongoing litigation. Despite these challenges, Shoals has made strategic decisions to expand its market presence internationally and diversify its offerings, particularly in battery energy storage solutions and commercial markets.
Looking ahead, Shoals Technologies Group remains optimistic about the utility-scale solar market, despite ongoing macroeconomic pressures such as inflation and trade regulations. The company is focused on enhancing its competitive position through geographic expansion and product innovation. Management anticipates that the demand for renewable energy solutions will continue to grow, driven by increasing energy needs globally. However, they acknowledge that changes in trade policies and potential tariffs could impact future operations and costs.
About Shoals Technologies Group, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.