Shoals Technologies Group Inc. (SHLS) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1400 SHOALS WAY PORTLAND, TN 37148 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3674 - Semiconductors and Related Devices (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 22,707 | 8,766 | 5,006 | |||
| Cash and cash equivalents | 22,707 | 8,766 | 5,006 | |||
| Receivables | 107,118 | 50,575 | 31,499 | |||
| Inventory, net of allowances, customer advances and progress billings | 52,804 | 72,854 | 38,368 | |||
| Inventory | 52,804 | 72,854 | 38,368 | |||
| Contract with customer, asset, after allowance for credit loss | 40,136 | 16,713 | 13,533 | |||
| Other current assets | 4,421 | 4,632 | 5,042 | |||
| Total current assets: | 227,186 | 153,540 | 93,448 | |||
| Noncurrent Assets | ||||||
| Property, plant and equipment | 24,836 | 16,870 | 15,574 | |||
| Intangible assets, net (including goodwill) | 118,609 | 126,526 | 134,672 | |||
| Goodwill | 69,941 | 69,941 | 69,436 | |||
| Intangible assets, net (excluding goodwill) | 48,668 | 56,585 | 65,236 | |||
| Deferred income tax assets | 468,195 | 291,634 | 176,958 | |||
| Other noncurrent assets | 5,167 | 6,325 | 5,762 | |||
| Total noncurrent assets: | 616,807 | 441,355 | 332,966 | |||
| TOTAL ASSETS: | 843,993 | 594,895 | 426,414 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 68,402 | 27,363 | 29,554 | |||
| Accounts payable | 14,396 | 9,481 | 19,985 | |||
| Accrued liabilities | 54,006 | 17,882 | 9,569 | |||
| Deferred revenue | 22,228 | 23,259 | ||||
| Debt | 2,000 | 2,000 | 2,000 | |||
| Total current liabilities: | 92,630 | 52,622 | 31,554 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 245,053 | |||||
| Long-term debt, excluding current maturities | 245,053 | |||||
| Liabilities, other than long-term debt | 26,922 | 4,221 | 931 | |||
| Accounts payable and accrued liabilities | 23,815 | |||||
| Other liabilities | 3,107 | 4,221 | 931 | |||
| Other undisclosed noncurrent liabilities | 179,445 | 237,063 | 156,374 | |||
| Total noncurrent liabilities: | 206,367 | 241,284 | 402,358 | |||
| Total liabilities: | 298,997 | 293,906 | 433,912 | |||
| Equity | ||||||
| Equity, attributable to parent, including: | 544,996 | 291,374 | 2,553 | |||
| Additional paid in capital | 470,542 | 256,894 | 95,684 | |||
| Retained earnings (accumulated deficit) | 74,452 | 34,478 | (93,133) | |||
| Other undisclosed equity, attributable to parent | 2 | 2 | 2 | |||
| Equity, attributable to noncontrolling interest | 9,615 | (10,051) | ||||
| Other undisclosed equity | ||||||
| Total equity: | 544,996 | 300,989 | (7,498) | |||
| TOTAL LIABILITIES AND EQUITY: | 843,993 | 594,895 | 426,414 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|
| Revenues | 488,939 | 326,940 | 213,212 | ||
| Cost of revenue | (320,635) | (195,629) | (130,567) | ||
| Gross profit: | 168,304 | 131,311 | 82,645 | ||
| Operating expenses | (89,269) | (64,981) | (46,413) | ||
| Operating income: | 79,035 | 66,330 | 36,232 | ||
| Nonoperating income (expense) (gain on Contract Termination) | 110,883 | ||||
| Interest and debt expense | (24,100) | (18,538) | (30,539) | ||
| Income from continuing operations before equity method investments, income taxes: | 54,935 | 158,675 | 5,693 | ||
| Other undisclosed loss from continuing operations before income taxes | (6,675) | (1,663) | |||
| Income from continuing operations before income taxes: | 54,935 | 152,000 | 4,030 | ||
| Income tax expense | (12,274) | (8,987) | (86) | ||
| Income from continuing operations: | 42,661 | 143,013 | 3,944 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 3,944 | |
| Net income: | 42,661 | 143,013 | 3,944 | ||
| Net loss attributable to noncontrolling interest | (2,687) | (15,402) | (1,596) | ||
| Net income attributable to parent: | 39,974 | 127,611 | 2,348 | ||
| Other undisclosed net loss available to common stockholders, basic | (2,675) | ||||
| Net income (loss) available to common stockholders, basic: | 39,974 | 127,611 | (327) | ||
| Dilutive securities, effect on basic earnings per share | 15,402 | ||||
| Net income (loss) available to common stockholders, diluted: | 39,974 | 143,013 | (327) | ||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|
| Net income: | 42,661 | 143,013 | 3,944 | ||
| Comprehensive income: | 42,661 | 143,013 | 3,944 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (2,687) | (15,402) | (1,596) | ||
| Comprehensive income, net of tax, attributable to parent: | 39,974 | 127,611 | 2,348 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.