Shoals Technologies Group, Inc.

Shoals Technologies Group, Inc. and Array Technologies announced a definitive agreement to combine in a stock-for-stock merger, creating an integrated energy infrastructure platform. The combined company is projected to achieve $2.2 billion to $2.4 billion in revenue and $410 million to $480 million in Adjusted EBITDA for fiscal year 2027, with expectations of over $100 million in annual synergies within three years. Shoals shareholders will receive 1.6931 shares of Array common stock per Shoals share, and Shoals shareholders are expected to own approximately 65% of the combined entity. Brandon Moss will lead the combined company as CEO, while Kevin Hostetler will be a Special Advisor. Array will also redeem $317.5 million of its preferred stock as part of the transaction.

Shoals Technologies Group reported strong revenue growth for Q2 2026, with sales increasing 47.4% to $163.4 million. However, net income for the quarter declined by 12.4% to $12.1 million, and basic EPS fell to $0.07. The company also amended its Senior Secured Credit Agreement, increasing its Revolving Credit Facility by $50 million to $250 million, and continues to manage an estimated $73.0 million liability related to wire insulation shrinkback.

Shoals Technologies Group announced its second quarter 2026 results, with revenue increasing 47.4% to $163.4 million and Adjusted EBITDA rising to $31.6 million. However, net income decreased to $12.1 million, and gross profit percentage declined due to operational inefficiencies and product quality matters. The company reported a record backlog and awarded orders of $801.4 million and reaffirmed its full-year 2026 outlook.

Shoals Technologies Group, Inc. announced it will release its second quarter 2026 financial results before market open on Tuesday, August 4, 2026. This will be followed by a conference call at 8:00 a.m. Eastern Time on the same day. Interested parties can access the live webcast through the Investor Relations section of the company's website, with an archived replay available afterward.

Shoals Technologies Group, Inc. announced a decisive victory in its patent infringement action against Voltage, LLC, after the U.S. International Trade Commission (ITC) affirmed the Administrative Law Judge's ruling. The ITC found that Voltage violated Section 337 of the Tariff Act of 1930 by importing infringing LYNX trunk bus products. This decision validates Shoals' intellectual property and investment in U.S. innovation, with the ITC issuing a limited exclusion order against Voltage's imports. The case now enters a 60-day presidential review period, during which Voltage must post a bond to sell the infringing products.

Shoals Technologies Group, Inc. has secured a new $50 million incremental revolving loan facility through Amendment No. 7 to its existing Credit Agreement. This facility, available for an 18-month period, carries substantially similar terms to the company's existing revolving loans and allows for prepayment without premium or penalty. The amendment also revises financial covenants, replacing the maximum consolidated first lien secured leverage ratio with a maximum consolidated total leverage ratio of 4.00:1.00, with provisions for temporary increases during material acquisitions.

Shoals Technologies Group, Inc. has amended its Credit Agreement, adding a new tranche of $50,000,000 in incremental revolving loans. The amendment also replaces the first lien secured leverage ratio covenant with a consolidated total leverage ratio of 4.00:1.00, with provisions for temporary increases related to acquisitions. The total commitment under the agreement now stands at $250,000,000.

Shoals Technologies Group, Inc. announced the grand opening of its new 638,000-square-foot Mega Facility in Portland, Tennessee, backed by a $30 million investment with a commitment of up to $80 million over five years. This expansion consolidates three existing facilities, significantly increasing domestic manufacturing capacity for solar, battery energy storage systems, and data center infrastructure. The milestone also commemorates the company's 30th anniversary and included a $20,000 donation to Hands of Hope, supporting the local community.

Shoals Technologies Group reported Q1 2026 revenue of $140.6 million, a significant increase from $80.4 million in Q1 2025. The company posted a net loss of $(0.3) million, slightly higher than $(0.3) million in the prior year. A new litigation settlement liability of $70.0 million was recorded, and net cash used in operating activities was $(41.4) million. Additionally, an Administrative Law Judge at the ITC issued an Initial Determination finding that Voltage's products infringed on Shoals' '375 and '376 patents, with a final ITC determination expected by June 2026.

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.