Filing Flows › Shoals Technologies Group (SHLS) › Q1 2025
Shoals Technologies Group (SHLS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Shoals Technologies Group (SHLS) reported revenue of $80.4M for the first quarter 2025 (Q1 2025), -12% from a year earlier and -25% from the quarter before. Operating margin was 5.4%, net loss $282K (0.4% of revenue).
Shoals Technologies Group, Q1 2025: revenue $80.4M (-12% year over year), operating margin 5.4%, net loss $282K, operating cash flow $15.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $80.4M | -25% | -12% |
| Operating profit | $4.3M | — | — |
| Net earnings | −$282K | — | — |
| Operating cash flow | $15.6M | +11% | +21% |
| Free cash flow | $12.3M | -0.9% | +19% |
What changed
Revenue was $80.4M in Q1 2025, down 12% year over year and down 25% from the previous quarter. System solutions was the largest line at 71% of revenue. System solutions lost $7.7M year over year (down 12%), 73% of the total change.
Gross margin was 35.0%, down 5.1 points from a year earlier. Operating profit was $4.3M, a 5.4% margin (down 7.4 points year over year). Operating expenses fell 4% while revenue fell 12%. The quarter ended with a net loss of $282K, after a profit of $7.8M the previous quarter. Net interest and other expense of $2.3M was the main reason.
Operating cash flow was $15.6M (up 21% year over year). Non-cash charges added back $3.3M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $9.9M. Capital expenditures of $3.2M left free cash flow of $12.3M.
Questions
What was Shoals Technologies Group's revenue in the first quarter 2025?
Shoals Technologies Group (SHLS) reported revenue of $80.4M for the first quarter 2025 (Q1 2025), -12% from a year earlier and -25% from the quarter before.
Was Shoals Technologies Group profitable in the first quarter 2025?
Operating profit was $4.3M (5.4% of revenue) and net loss $282K.