Quarterly ResultMay 5, 2026, 07:22 AM
Shoals Q1 Revenue $140.6M, Net Loss $0.3M; Raises Full-Year Outlook
AI Summary
Shoals Technologies Group reported strong first-quarter 2026 financial results, with revenue increasing 74.9% to $140.6 million, driven by robust demand and market share gains. Despite a net loss of $0.3 million and increased legal and litigation settlement expenses, Adjusted EBITDA grew to $21.1 million. The company also achieved a record backlog and awarded orders of $758.0 million and raised its full-year 2026 revenue and Adjusted EBITDA guidance, reflecting confidence in its strategic plan and market position.
Key Highlights
- Q1 2026 Revenue increased 74.9% to $140.6 million.
- Q1 2026 Net Loss was $0.3 million.
- Q1 2026 Adjusted EBITDA rose to $21.1 million, up from $13.5 million.
- Record backlog and awarded orders reached $758.0 million, up 17.5% YoY.
- Full-year 2026 revenue outlook raised to $600 million to $640 million.
- Full-year 2026 Adjusted EBITDA outlook raised to $118 million to $132 million.
- Gross profit margin decreased to 29.2% from 35.0% due to tariffs and costs.
- General and administrative expenses increased to $31.0 million, including $6.2 million in legal expenses.