Filing Flows › Shoals Technologies Group (SHLS) › Q2 2026 › vs Q2 2025
Shoals Technologies Group (SHLS) Q2 2026 vs Q2 2025 (year over year)
Shoals Technologies Group's revenue rose $52.5M (+47%) from $111M in Q2 2025 to $163M in Q2 2026. The biggest changes: System solutions +$29.8M (+35%); Components +$22.8M (+86%). Gross margin 30.3% against 37.2% (-6.9 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 30.3% | 37.2% | -6.9 pts |
| Operating margin | 11.5% | 14.4% | -3.0 pts |
| Net margin | 7.4% | 12.5% | -5.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| System solutions | $114M | $84.4M | $29.8M | +35% |
| Components | $49.2M | $26.4M | $22.8M | +86% |
| Revenue | $163M | $111M | $52.5M | +47% |
| Gross profit | $49.5M | $41.2M | $8.3M | +20% |
| Cost of revenue | $114M | $69.6M | $44.2M | +63% |
| Operating profit | $18.7M | $16.0M | $2.7M | +17% |
| Operating expenses | $30.8M | $25.2M | $5.6M | +22% |
| Pre-tax earnings | $15.5M | $17.0M | −$1.5M | -9% |
| Other expense, net | $3.2M | −$974K | $4.2M | — |
| General & admin | $28.5M | $23.1M | $5.4M | +23% |
| Other operating costs | $2.3M | $2.1M | $198K | +9% |
| Net earnings | $12.1M | $13.9M | −$1.7M | -12% |
| Income tax | $3.4M | $3.1M | $241K | +8% |
| Operating cash sources | $21.1M | $19.8M | $1.4M | +7% |
| Depreciation & amortization | $4.6M | $3.3M | $1.3M | +39% |
| Share-based compensation | $4.4M | $2.6M | $1.8M | +69% |
| Working capital & other | $14.3M | $33.6M | −$19.3M | -57% |
| Operating cash flow | $6.8M | −$13.8M | $20.6M | — |
| Capital expenditures | $7.0M | $12.2M | −$5.2M | -43% |
| Negative free cash flow (OCF − capex) | $207K | $26.0M | −$25.8M | -99% |
Questions
How much did Shoals Technologies Group's revenue grow year over year in Q2 2026?
Shoals Technologies Group's revenue rose $52.5M (+47%) from $111M in Q2 2025 to $163M in Q2 2026.
What drove Shoals Technologies Group's revenue change in Q2 2026?
System solutions +$29.8M (+35%); Components +$22.8M (+86%).