Business
Shoals Technologies Group, Inc. Reports Financial Results for First Quarter 2025
– Quarterly Revenue of $80.4 million – – Gross Margin of 35.0% – – Net Loss of $(0.3) million – – Adjusted EBITDA1 of $12.8 million – – Backlog and Awarded
About this update from Shoals Technologies Group, Inc.
[{"type":"text","content":"– Quarterly Revenue of $80.4 million – – Gross Margin of 35.0% – – Net Loss of $(0.3) million – – Adjusted EBITDA1 of $12.8 million – – Backlog and Awarded Orders Increased 5% Year-Over-Year to $645.1 million – – Provides Second Quarter and Full Year 2025 Outlook – PORTLAND, Tenn., May 06, 2025 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical balance of system (“EBOS”) solutions and components, including battery energy storage solutions (“BESS”) and Original Equipment Manufacturer (“OEM”) components for the global energy transition market, today announced results for its first quarter ended March 31, 2025. “We began the year with a strong start, delivering revenue above our guided range. The investment that we have made in our commercial function is paying dividends as evidenced in both the growth and quality of our order book. I’m proud of the robust backlog and awarded orders of $645 million, with approximately $500 million scheduled for the coming four quarters. The strategic initiatives that are driving increased market penetration and diversification are progressing very well, with commercial success in international, CC&I, BESS, and OEM markets,” said Brandon Moss, CEO of Shoals. “While volatility and uncertainty may dominate today’s headlines, the markets that we operate within are showing continued strength. Our value proposition of delivering high-quality, innovative products combined with exceptional engineering and design support is resonating with new and existing customers. The underlying fundamentals of both our industry and business opportunities remain very positive. Projects are moving forward, and 2025 is shaping up to be a solid year,” added Mr. Moss. ________________________1 Non-GAAP financial measures referenced in this release are used by management to assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measures. First Quarter 2025 Financia...