Filing Flows › Shoals Technologies Group (SHLS) › Q2 2026
Shoals Technologies Group (SHLS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Shoals Technologies Group (SHLS) reported revenue of $163M for the second quarter 2026 (Q2 2026), +47% from a year earlier and +16% from the quarter before. Operating margin was 11.5%, net earnings $12.1M (7.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $163M | +16% | +47% |
| Gross profit | $49.5M | +21% | +20% |
| Operating profit | $18.7M | +143% | +17% |
| Net earnings | $12.1M | — | -12% |
| Operating cash flow | $6.8M | — | — |
What changed
Revenue was $163.4M in Q2 2026, up 47% year over year and up 16% from the previous quarter. System solutions was the largest line at 70% of revenue. System solutions added $29.8M year over year (up 35%), 57% of the total change.
Gross margin was 30.3%, down 6.9 points from Q2 2025. Operating profit was $18.7M, a 11.5% margin (down 3.0 points year over year). Of the extra revenue versus Q2 2025, 5% reached operating profit, below the 14% margin then. Operating expenses grew 22% against revenue growth of 47%. The fastest-growing cost line was General & admin (+23%). Net earnings were $12.1M, down 12% year over year. The effective tax rate was 21.7%.
Operating cash flow was $6.8M, 56% of net earnings. Non-cash charges added back $4.6M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $14.3M. Capital expenditures of $7.0M exceeded it, leaving free cash flow of −$207K.
Questions
What was Shoals Technologies Group's revenue in the second quarter 2026?
Shoals Technologies Group (SHLS) reported revenue of $163M for the second quarter 2026 (Q2 2026), +47% from a year earlier and +16% from the quarter before.
Was Shoals Technologies Group profitable in the second quarter 2026?
Operating profit was $18.7M (11.5% of revenue) and net earnings $12.1M.