Shoals Technologies Group, Inc. · NASDAQ:SHLS

Shoals Technologies — Q1 2026 Earnings Presentation

15 slides from Shoals Technologies's earnings presentation, May 5, 2026

  1. Slide 1: Q1 Earnings Report

    Q1 Earnings Report May 2026 i) 30: shoals YEARS) inventiNnG siMPLe®

  2. Slide 2: Disclaimer

    Disclaimer GroupGroup Forward-Looking Statements Shoals Technologies This presentation contains forward-looking statements. All statements other than statements of historical fact are “forward-looking © 2025 Technologies statements” for purposes of federal and state securities laws. Words, and varia

  3. Slide 3: Q1 2026 Quarterly Highlights

    Q1 2026 QUARTERLY HIGHLIGHTS © 2026 Shoals Technologies Group $141M $21M $758M 1.1 Adjusted Backlog & Revenue Book-to-Bill EBITDA1 Awarded Orders 3 3 Above our Q1 2026 At the high end of our A company record Strong demand for Q1 2026 guidance Shoals products, Q1 Earnings Report guidance range BLAO &

  4. Slide 4: Project Execution & Manufacturing Expansion

    Q1 2026 PROJECT EXECUTION & MANUFACTURING EXPANSION © 2026 Shoals Technologies Group Australia 4 4 Q1 Earnings Report Shoals PROJECT EXECUTION MEGA PLANT

  5. Slide 5: First Quarter Financial Snapshot

    First Quarter Financial Snapshot © 2026 Shoals Technologies Group $ thousands Q1 2026 Q1 2025 $ Change YoY % Change YoY $140.6M 29.6% Revenue $ 140,557 $ 80,361 $ 60,196 74.9% Q1 Revenue Q1 Adjusted Cost of Goods Sold 99,547 52,221 47,326 90.6% Gross Profit %1 Gross Profit 41,010 28,140 12,870 45.7%

  6. Slide 6: Debt & Liquidity

    Debt & Liquidity Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 © 2026 Shoals Technologies Group Cash & Cash Equivalents $35.6 $4.7 $8.6 $7.3 $1.9 Total Long-term Debt $141.8 $131.8 $126.8 $136.8 $181.8 Less: Cash & Cash Equivalents $35.6 $4.7 $8.6 $7.3 $1.9 Net Debt1 $106.2 $127.1 $118.2 $129.5 $179.9 Adj

  7. Slide 7: Backlog & Awarded Orders

    Backlog & Awarded Orders $758.0M © 2026 Shoals Technologies Group $ millions As of March 31, 2026 in record backlog & awarded orders +18% YoY $390.3M As of March 31, 2026 in record backlog 7 $627.6M 7 to deliver in Forward Q1 Earnings Report Four Quarters $130.4M Beyond Q1 2027 Shoals

  8. Slide 8: Financial Outlook

    Financial Outlook 2026 © 2026 Shoals Technologies Group Q2 2026 Revenue $150-170M (44% YoY Growth at Midpoint) Full year expectations: $600-640M $118-132M 2026 Full Yr Revenue 2026 Adj. EBITDA1 (30% YoY Growth at Midpoint) (26% YoY Growth at Midpoint) $65-85M $20-30M 2026 Full Yr 2026 Capital Operat

  9. Slide 9: Management quote and Q&A

    “ © 2026 Shoals Technologies Group The U.S. market appears to be extremely resilient, and our capacity expansion could not have come at a better time in our history. We are preparing Shoals to be ready and agile in our production capabilities in a growing demand environment.” Q&A 9 9 Q1 Earnings Rep

  10. Slide 10: Appendix

    Appendix Shoals Q1 Earnings Report 10 © 2026 Shoals Technologies Group 10

  11. Slide 11: Non-GAAP Reconciliations, Adjusted Gross Profit

    Non-GAAP Reconciliations, Adjusted Gross Profit Adjusted Gross Profit Three Months Ended March 31, © 2026 Shoals Technologies Group 2026 2025 Revenue $ 140,557 $ 80,361 Cost of revenue 99,547 52,221 Gross profit $ 41,010 $ 28,140 Gross profit percentage 29.2% 35.0% Plant optimization expense (b) $ 6

  12. Slide 12: Non-GAAP Reconciliations, Adjusted EBITDA

    Non-GAAP Reconciliations, Adjusted EBITDA Adjusted EBITDA Three Months Ended March 31, © 2026 Shoals Technologies Group 2026 2025 Net loss $ (297) $ (282) Interest expense 2,903 2,415 Interest income (59) (118) Income tax expense (benefit) (89) 2,297 Depreciation expense 2,199 1,391 Amortization of

  13. Slide 13: Non-GAAP Reconciliations, Adjusted Net Income

    Non-GAAP Reconciliations, Adjusted Net Income Adjusted Net Income Three Months Ended March 31, © 2026 Shoals Technologies Group 2026 2025 Net loss $ (297) $ (282) Amortization of intangibles 1,902 1,896 Amortization / write-off of deferred financing costs 156 156 Equity-based compensation 3,317 2,66

  14. Slide 14: Non-GAAP Reconciliations, Adjusted Diluted EPS

    Non-GAAP Reconciliations, Adjusted Diluted EPS © 2026 Shoals Technologies Group Adjusted Diluted EPS Three Months Ended March 31, 2026 2025 Diluted weighted average shares outstanding 167,555 166,960 Adjusted Net Income $ 12,145 $ 5,734 Adjusted Diluted EPS $ 0.07 $ 0.03 14 14 Q1 Earnings Report Sho

  15. Slide 15: Thank You

    © 2026 Shoals Technologies Group 15 15 Q1 Earnings Report THANK YOU! Please reach out to investors@shoals.com with any further questions. Shoals

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