Every 10-Q that Shoals Technologies Group, Inc. (SHLS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SHLS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SHLS filings page.
Shoals Technologies Group reported strong top-line growth but flat profitability in Q1 2026. Revenue rose 74.9% year over year to $140.6 million, driven by higher project volumes and market share gains. Gross margin narrowed to 29.2% from 35.0% as tariffs, higher materials costs, and facility-related amortization increased cost of revenue.
The company posted a small net loss of $0.3 million, similar to the prior year, as legal and settlement costs offset operating gains. Adjusted EBITDA improved to $21.1 million from $13.5 million. Operating cash flow turned to an outflow of $41.4 million, mainly from inventory builds and working-capital changes, and cash ended at $1.9 million.
Backlog and awarded orders totaled $758.0 million, with significant volumes expected to ship within 12 months. Revolving credit facility borrowings increased to $181.8 million with $15.4 million of remaining availability. The estimated total loss tied to the wire insulation shrinkback issue remains $73.0 million, with $71.8 million incurred and a remaining warranty liability of $1.2 million. A securities litigation settlement of $70.0 million was preliminarily approved, of which $64.8 million is covered by insurance, leaving a $5.3 million expense this quarter.
Shoals Technologies Group (SHLS) reported stronger Q3 2025 results. Revenue rose to $135.8 million from $102.2 million, with gross profit up to $50.3 million from $25.4 million. Net income was $11.9 million versus a small loss a year ago, and diluted EPS reached $0.07.
For the first nine months, revenue was $327.0 million (from $292.2 million) and net income was $25.5 million (from $16.3 million). Operating cash flow was $21.2 million. Cash and equivalents were $8.6 million, and borrowings on the revolving credit facility were $126.8 million at quarter end. The company reported $720.9 million in backlog and awarded orders, with a portion expected within 12 months.
The warranty liability tied to wire insulation shrinkback carried a recorded estimate of $73.0 million at the low end of a $73.0–$160.0 million range; the remaining liability was $7.6 million at quarter end. As of October 29, 2025, Class A shares outstanding were 167,388,418; this excludes 3,908,387 shares held as treasury stock.