Shoals Technologies Group, Inc. · NASDAQ:SHLS
Shoals Technologies — Q3 2026 Earnings Presentation
14 slides from Shoals Technologies's earnings presentation, November 2026
Slide 1: Q3 Earnings Report
Q3 Earnings Report November 2026
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
Slide 3: Quarterly Highlights
Q3 2026 QUARTERLY HIGHLIGHTS © 2026 Shoals Technologies Group $195M $39.8M $792M 1.0 Adjusted Backlog & Revenue Book-to-Bill EBITDA1 Awarded Orders 3 3 A company record Above our Q3 2026 $697M with Strong demand for guidance range Shoals products, Q3 Earnings Report and above our Q3 shipment dates i
Slide 4: Business Unit Highlights
Q3 2026 BUSINESS UNIT HIGHLIGHTS © 2026 Shoals Technologies Group PowerHub Production TM Core Solar Execution 4 4 Q3 Earnings Report Shoals
Slide 5: Third Quarter Financial Snapshot
Third Quarter Financial Snapshot © 2026 Shoals Technologies Group $ Thousands (except for EPS) Q3 2026 Q3 2025 $ Change YoY % Change YoY $195.3M 32.0% Revenue $ 195,308 $ 135,804 $ 59,504 43.8 % Q3 Revenue Q3 Adjusted Cost of Goods Sold 132,912 85,552 47,360 55.4 % Gross Profit %1 Gross Profit 62,39
Slide 6: Debt & Liquidity
Debt & Liquidity Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 © 2026 Shoals Technologies Group Cash & Cash Equivalents $8.6 $7.3 $1.9 $15.7 $7.7 Total Long-term Debt $126.8 $136.8 $181.8 $196.8 $163.8 Less: Cash & Cash Equivalents $8.6 $7.3 $1.9 $15.7 $7.7 Net Debt $118.2 $129.4 $179.9 $181.1 $156.1 Adju
Slide 7: Backlog & Awarded Orders
Backlog & Awarded Orders © 2026 Shoals Technologies Group $791.7M As of September 30, 2026 in backlog & awarded orders +9.8% YoY $374.7M As of September 30, 2026 in backlog $696.6M 7 7 to deliver in Forward Four Quarters Q3 Earnings Report $95.1M Beyond Q3 2027 Shoals
Slide 8: Financial Outlook
Financial Outlook © 2026 Shoals Technologies Group Q4 2026 Revenue $165-185M (18% YoY Growth at Midpoint) Full year 2026 expectations: $665-685M $129-133M 2026 Full Yr Revenue 2026 Adj. EBITDA1 (42% YoY Growth at Midpoint) (28% YoY Growth at Midpoint) $55-65M $20-30M 2026 Full Yr 2026 Capital Operat
Slide 9: Appendix
Appendix Shoals Q3 Earnings Report 9 © 2026 Shoals Technologies Group 9
Slide 10: Non-GAAP Reconciliations, Adjusted Gross Profit
Non-GAAP Reconciliations, Adjusted Gross Profit © 2026 Shoals Technologies Group Adjusted Gross Profit Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Revenue $ 195,308 $ 135,804 $ 499,237 $ 327,006 Cost of revenue 132,912 85,552 346,306 207,412 Gross profit $ 62
Slide 11: Non-GAAP Reconciliations, Adjusted EBITDA
Non-GAAP Reconciliations, Adjusted EBITDA Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, © 2026 Shoals Technologies Group 2026 2025 2026 2025 Net income $ 17,870 $ 11,879 $ 29,711 $ 25,452 Interest expense 3,894 2,832 10,271 7,483 Interest income — (38) (327) (232)
Slide 12: Non-GAAP Reconciliations, Adjusted Net Income
Non-GAAP Reconciliations, Adjusted Net Income Adjusted Net Income Three Months Ended September 30, Nine Months Ended September 30, © 2026 Shoals Technologies Group 2026 2025 2026 2025 Net income $ 17,870 $ 11,879 $ 29,711 $ 25,452 Amortization of intangibles 1,910 1,909 5,703 5,710 Amortization / wr
Slide 13: Non-GAAP Reconciliations, Adjusted Diluted EPS
Non-GAAP Reconciliations, Adjusted Diluted EPS © 2026 Shoals Technologies Group Adjusted Diluted EPS Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Diluted weighted average shares outstanding 170,133 168,750 170,058 167,725 Adjusted Net Income $ 24,493 $ 21,197
Slide 14: Thank You!
© 2026 Shoals Technologies Group 14 14 Q3 Earnings Report THANK YOU! Please reach out to investors@shoals.com with any further questions. Shoals
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