–  Quarterly Revenue of $80.4 million  –_{^{1FirstRevenue decreased 11.5%, to $80.4 million, compared to $90.8 million for the prior-year period, driven by strategic pricing actions, volume discounts, and customer and product mix.The Company’s backlog and awarded orders as of March 31, 2025, were $645.1 million, representing a 4.9% increase compared to the prior-year period and a 1.6% sequential increase from December 31, 2024. The increase in backlog and awarded orders as compared to the prior-year period reflects consistent demand for the Company’s innovative products, with growth in international markets, which comprises more than 13.4% of backlog and awarded orders.  The Company is providing an outlook for the second quarter given the near-term uncertainty in the utility scale solar market, which has resulted in shifting order patterns. Based on current business conditions, business trends and other factors, for the quarter ending June 30, 2025, the Company expects:Based on current business conditions, business trends and other factors, for the full year 2025, the Company expects:Company management will host a webcast and conference call on May 6, 2025, at 8:00 a.m. Eastern Time, to discuss the Company’s financial results.Shoals Technologies Group, Inc. is 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. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group, Inc. is a recognized leader in the renewable energy industry whose solutions are deployed on over 70 GW of solar systems globally. For additional information, please visit: https://www.shoals.com.Shoals Technologies Group, Inc.
Email: [email protected]Condensed Consolidated Balance Sheets (Unaudited)
2024Condensed Consolidated Statements of Operations (Unaudited)
Condensed Consolidated Statements of Cash Flows (Unaudited)
Shoals Technologies Group, Inc.Adjusted Gross Profit, Adjusted Gross Profit Percentage, Adjusted EBITDA, Adjusted Net Income andAdjusted Diluted Earnings per Share (“EPS”) (Unaudited)Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands):Reconciliation of Net Income (Loss) to Adjusted Net Income (in thousands):(a)Reconciliation of Diluted Weighted Average Shares Outstanding to Adjusted Diluted Weighted Average Shares Outstanding (in thousands, except per share):
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