Filing Flows › Shoals Technologies Group (SHLS) › Q3 2026 › vs Q3 2025
Shoals Technologies Group (SHLS) Q3 2026 vs Q3 2025 (year over year)
Shoals Technologies Group's revenue rose $59.5M (+44%) from $136M in Q3 2025 to $195M in Q3 2026. The biggest changes: System solutions +$40.0M (+36%); Components +$19.5M (+77%). Gross margin 31.9% against 37.0% (-5.1 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 31.9% | 37.0% | -5.1 pts |
| Operating margin | 14.8% | 13.7% | +1.1 pts |
| Net margin | 9.1% | 8.7% | +0.4 pts |
| Free cash flow margin | 13.3% | 6.6% | +6.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| System solutions | $150M | $110M | $40.0M | +36% |
| Components | $44.9M | $25.4M | $19.5M | +77% |
| Revenue | $195M | $136M | $59.5M | +44% |
| Gross profit | $62.4M | $50.3M | $12.1M | +24% |
| Cost of revenue | $133M | $85.6M | $47.4M | +55% |
| Operating profit | $29.0M | $18.7M | $10.3M | +55% |
| Operating expenses | $33.4M | $31.6M | $1.8M | +6% |
| Pre-tax earnings | $24.1M | $15.9M | $8.2M | +52% |
| Other expense, net | $4.9M | $2.8M | $2.1M | +74% |
| General & admin | $31.0M | $29.4M | $1.6M | +5% |
| Other operating costs | $2.4M | $2.2M | $269K | +12% |
| Net earnings | $17.9M | $11.9M | $6.0M | +50% |
| Income tax | $6.2M | $4.0M | $2.2M | +56% |
| Depreciation & amortization | $5.1M | $3.4M | $1.7M | +51% |
| Share-based compensation | $4.1M | $2.4M | $1.7M | +69% |
| Working capital & other | $1.8M | $1.8M | $58K | +3% |
| Operating cash flow | $28.9M | $19.4M | $9.4M | +49% |
| Free cash flow (OCF − capex) | $26.0M | $9.0M | $17.0M | +190% |
| Capital expenditures | $2.8M | $10.4M | −$7.6M | -73% |
Questions
How much did Shoals Technologies Group's revenue grow year over year in Q3 2026?
Shoals Technologies Group's revenue rose $59.5M (+44%) from $136M in Q3 2025 to $195M in Q3 2026.
What drove Shoals Technologies Group's revenue change in Q3 2026?
System solutions +$40.0M (+36%); Components +$19.5M (+77%).