Filing Flows › Shoals Technologies Group (SHLS) › Q2 2026 › vs Q1 2026
Shoals Technologies Group (SHLS) Q2 2026 vs Q1 2026 (quarter over quarter)
Shoals Technologies Group's revenue rose $22.8M (+16%) from $141M in Q1 2026 to $163M in Q2 2026. The biggest changes: Components +$19.5M (+65%); System solutions +$3.4M (+3%). Gross margin 30.3% against 29.2% (+1.1 pts).
Shoals Technologies Group, Q2 2026: revenue $163M (+47% year over year), operating margin 11.5%, net earnings $12.1M, operating cash flow $6.8M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 30.3% | 29.2% | +1.1 pts |
| Operating margin | 11.5% | 5.5% | +6.0 pts |
| Net margin | 7.4% | -0.2% | +7.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| System solutions | $114M | $111M | $3.4M | +3% |
| Components | $49.2M | $29.7M | $19.5M | +65% |
| Revenue | $163M | $141M | $22.8M | +16% |
| Gross profit | $49.5M | $41.0M | $8.5M | +21% |
| Cost of revenue | $114M | $99.5M | $14.3M | +14% |
| Operating profit | $18.7M | $7.7M | $11.0M | +143% |
| Operating expenses | $30.8M | $33.3M | −$2.5M | -7% |
| Pre-tax earnings | $15.5M | −$386K | $15.9M | — |
| Other expense, net | $3.2M | $8.1M | −$4.9M | -60% |
| General & admin | $28.5M | $31.0M | −$2.5M | -8% |
| Other operating costs | $2.3M | $2.3M | $60K | +3% |
| Net earnings | $12.1M | −$297K | $12.4M | — |
| Income tax | $3.4M | −$89K | $3.4M | — |
| Operating cash sources | $21.1M | $7.1M | $14.0M | +197% |
| Depreciation & amortization | $4.6M | $4.1M | $530K | +13% |
| Share-based compensation | $4.4M | $3.3M | $1.1M | +32% |
| Working capital & other | $14.3M | $48.6M | −$34.2M | -70% |
| Operating cash flow | $6.8M | −$41.4M | $48.3M | — |
| Capital expenditures | $7.0M | $7.6M | −$633K | -8% |
| Negative free cash flow (OCF − capex) | $207K | $49.1M | −$48.9M | -100% |
Questions
How much did Shoals Technologies Group's revenue grow quarter over quarter in Q2 2026?
Shoals Technologies Group's revenue rose $22.8M (+16%) from $141M in Q1 2026 to $163M in Q2 2026.
What drove Shoals Technologies Group's revenue change in Q2 2026?
Components +$19.5M (+65%); System solutions +$3.4M (+3%).