Filing Flows › Shoals Technologies Group (SHLS) › Q3 2026 › vs Q2 2026
Shoals Technologies Group (SHLS) Q3 2026 vs Q2 2026 (quarter over quarter)
Shoals Technologies Group's revenue rose $31.9M (+20%) from $163M in Q2 2026 to $195M in Q3 2026. The biggest changes: System solutions +$36.2M (+32%); Components −$4.3M (-9%). Gross margin 31.9% against 30.3% (+1.6 pts).
Shoals Technologies Group, Q3 2026: revenue $195M (+44% year over year), operating margin 14.8%, net earnings $17.9M, operating cash flow $28.9M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 31.9% | 30.3% | +1.6 pts |
| Operating margin | 14.8% | 11.5% | +3.4 pts |
| Net margin | 9.1% | 7.4% | +1.7 pts |
| Free cash flow margin | 13.3% | -0.1% | +13.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| System solutions | $150M | $114M | $36.2M | +32% |
| Components | $44.9M | $49.2M | −$4.3M | -9% |
| Revenue | $195M | $163M | $31.9M | +20% |
| Gross profit | $62.4M | $49.5M | $12.9M | +26% |
| Cost of revenue | $133M | $114M | $19.1M | +17% |
| Operating profit | $29.0M | $18.7M | $10.2M | +55% |
| Operating expenses | $33.4M | $30.8M | $2.6M | +9% |
| Pre-tax earnings | $24.1M | $15.5M | $8.6M | +55% |
| Other expense, net | $4.9M | $3.2M | $1.7M | +51% |
| General & admin | $31.0M | $28.5M | $2.5M | +9% |
| Other operating costs | $2.4M | $2.3M | $89K | +4% |
| Net earnings | $17.9M | $12.1M | $5.7M | +47% |
| Income tax | $6.2M | $3.4M | $2.9M | +85% |
| Depreciation & amortization | $5.1M | $4.6M | $439K | +9% |
| Share-based compensation | $4.1M | $4.4M | −$284K | -6% |
| Working capital & other | $1.8M | −$14.3M | $16.2M | — |
| Operating cash flow | $28.9M | $6.8M | $22.0M | +324% |
| Free cash flow (OCF − capex) | $26.0M | −$207K | $26.2M | — |
| Capital expenditures | $2.8M | $7.0M | −$4.2M | -60% |
Questions
How much did Shoals Technologies Group's revenue grow quarter over quarter in Q3 2026?
Shoals Technologies Group's revenue rose $31.9M (+20%) from $163M in Q2 2026 to $195M in Q3 2026.
What drove Shoals Technologies Group's revenue change in Q3 2026?
System solutions +$36.2M (+32%); Components −$4.3M (-9%).