← Shoals Technologies Group, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Net income | $33.8m |
$3.9m
-88.32%
|
$143.0m
+3526.09%
|
$42.7m
-70.17%
|
$24.1m
-43.44%
|
$33.6m
+39.16%
|
$31.8m
-5.16%
|
|
| Depreciation and amortization | $9.4m | $10.1m | $10.5m | $10.5m | $12.6m | $13.8m | $15.9m | |
| Amortization/write off of deferred financing costs | $351k | $6.0m | $1.4m | $2.2m | $3.1m | $622k | — | |
| Deferred taxes | $0 | ($1.5m) | $8.4m | $11.3m | $14.0m | $16.1m | — | |
| Recording of deferred tax assets related to exchanges of Class B common stock to Class A common stock | — | $187.9m | $123.2m | $187.6m | $0 | $0 | — | |
| Accounts receivable | $288k | $818k | ($19.2m) | ($56.8m) | $28.9m | ($50.6m) | ($44.1m) | |
| Unbilled receivables | ($1.3m) | ($9.7m) | ($3.2m) | ($23.4m) | $19.3m | ($1.3m) | ($44.1m) | |
| Provision for obsolete or slow-moving inventory | $188k | ($1.4m) | $2.1m | $5.0m | $2.7m | $1.2m | — | |
| Inventory | ($6.5m) | ($17.2m) | ($36.9m) | $15.0m | ($5.8m) | ($35.1m) | ($130.7m) | |
| Accounts payable | $4.3m | ($3.9m) | ($11.0m) | $5.2m | $5.6m | $43.3m | $38.1m | |
| Accrued expenses and other | — | ($6.2m) | $10.7m | $4.5m | ($11.2m) | $4.8m | — | |
| Deferred revenue | — | $1.7m | $21.4m | ($1.0m) | ($3.5m) | $18.3m | — | |
| Other | — | $0 | ($503k) | ($269k) | $0 | $0 | — | |
| Other assets | $643k | $341k | $244k | $1.4m | ($9.8m) | $1.8m | — | |
| Net Cash Provided by Operating Activities | $54.1m |
($4.1m)
-107.55%
|
$39.5m
+1066.32%
|
$92.0m
+133.06%
|
$80.4m
-12.58%
|
$17.1m
-78.77%
|
($19.3m)
-213.14%
|
|
| Purchases of property, plant and equipment | ($3.2m) | ($4.1m) | ($3.2m) | ($10.6m) | ($8.4m) | ($33.0m) | — | |
| Proceeds from sale of property, plant and equipment | — | — | — | $0 | $0 | $5.1m | $0 | |
| Purchased equipment not yet paid for | $3.2m | $4.1m | $3.2m | $0 | $0 | $1.5m | — | |
| Net Cash Used in Investing Activities | ($3.2m) | ($17.0m) | ($3.7m) | ($10.8m) | ($8.4m) | ($28.0m) | ($32.3m) | |
| Repurchase of Class A common stock | — | — | $0 | $0 | ($25.3m) | $0 | — | |
| Capital contribution related to tax receivable agreement exchanges of Class B common stock to Class A common stock | $0 | $27.0m | $115.4m | $187.6m | $0 | $0 | — | |
| Net Cash Used in Financing Activities | ($47.9m) |
$20.6m
+143.05%
|
($36.6m)
-277.60%
|
($67.2m)
-83.57%
|
($71.2m)
-5.99%
|
($5.3m)
+92.55%
|
$62.6m
+1280.92%
|
|
| Net Increase (Decrease) in Cash, Cash Equivalents | $3.0m | ($516k) | ($791k) | $13.9m | $804k | ($16.2m) | — | |
| Cash, Cash Equivalents—Beginning of Period | $10.1m | $9.6m | $8.8m | $22.7m | $23.5m | $7.3m | — | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Equity-based compensation | $8.3m | $11.3m | $16.1m | $20.9m | $14.2m | $9.9m | — | |
| Provision for credit losses | — | $0 | $200k | $296k | $0 | $0 | — | |
| Provision for warranty expense | — | $60k | $560k | $59.6m | $15.2m | $522k | — | |
| Warranty liability | — | $0 | $0 | ($5.2m) | ($29.1m) | ($41.0m) | — | |
| Distributions to non-controlling interests | ($376.0m) | ($4.8m) | ($7.8m) | ($2.6m) | $0 | $0 | — | |
| Employee withholding taxes related to net settled equity awards | $0 | ($137k) | ($1.3m) | ($3.9m) | ($1.2m) | ($362k) | — | |
| Deferred financing costs | ($11.8m) | ($94k) | $0 | $0 | ($2.6m) | $0 | — | |
| Payments on/ repayments of credit facilities | ($20.0m) | ($166.8m) | ($55.1m) | ($104.5m) | ($190.8m) | ($65.0m) | — | |
| Proceeds from revolving credit facility | $390.0m | $49.1m | $46.0m | $45.0m | $148.8m | $60.0m | — | |
| Excise taxes on treasury stock transactions | — | — | — | $0 | $0 | $59k | — | |
| Deferred offering costs | ($3.7m) | ($9.7m) | ($1.5m) | ($1.2m) | $0 | $0 | — | |
| Cash paid for interest | $3.0m | $10.8m | $12.8m | $23.1m | $16.3m | $9.1m | — | |
| Cash paid for taxes | $0 | $1.2m | $786k | $1.3m | $109k | ($183k) | — | |
| Right of use operating lease assets obtained in exchange for lease obligations | — | — | — | $0 | $0 | $46.2m | — | |
| Right of use operating lease liabilities obtained in exchange for lease assets | — | — | — | $0 | $0 | $41.3m | — |