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)

9/30/2023
MRQ
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8,7665,006
Cash and cash equivalents8,7665,006
Receivables50,57531,499
Inventory, net of allowances, customer advances and progress billings72,85438,368
Inventory72,85438,368
Contract with customer, asset, after allowance for credit loss16,71313,533
Other current assets4,6325,042
Total current assets:153,54093,448
Noncurrent Assets
Property, plant and equipment16,87015,574
Intangible assets, net (including goodwill)126,526134,672
Goodwill69,94169,436
Intangible assets, net (excluding goodwill)56,58565,236
Deferred income tax assets291,634176,958
Other noncurrent assets6,3255,762
Total noncurrent assets:441,355332,966
TOTAL ASSETS:594,895426,414
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities27,36329,554
Accounts payable9,48119,985
Accrued liabilities17,8829,569
Deferred revenue23,259 
Debt2,0002,000
Total current liabilities:52,62231,554
Noncurrent Liabilities
Long-term debt and lease obligation 245,053
Long-term debt, excluding current maturities 245,053
Liabilities, other than long-term debt4,221931
Accounts payable and accrued liabilities  
Other liabilities4,221931
Other undisclosed noncurrent liabilities 237,063156,374
Total noncurrent liabilities:241,284402,358
Total liabilities:293,906433,912
Equity
Equity, attributable to parent, including:291,3742,553
Additional paid in capital256,89495,684
Retained earnings (accumulated deficit)34,478(93,133)
Other undisclosed equity, attributable to parent22
Equity, attributable to noncontrolling interest 9,615(10,051)
Total equity:300,989(7,498)
TOTAL LIABILITIES AND EQUITY:594,895426,414

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
Revenues326,940213,212
Cost of revenue(195,629)(130,567)
Gross profit:131,31182,645
Operating expenses(64,981)(46,413)
Operating income:66,33036,232
Nonoperating income (expense)
(gain on Contract Termination)
 110,883 
Interest and debt expense(18,538)(30,539)
Other undisclosed income from continuing operations before equity method investments, income taxes  
Income from continuing operations before equity method investments, income taxes:158,6755,693
Other undisclosed loss from continuing operations before income taxes(6,675)(1,663)
Income from continuing operations before income taxes:152,0004,030
Income tax expense(8,987)(86)
Income from continuing operations:143,0133,944
Income before gain (loss) on sale of properties:3,944
Net income:143,0133,944
Net loss attributable to noncontrolling interest(15,402)(1,596)
Net income attributable to parent:127,6112,348
Other undisclosed net loss available to common stockholders, basic  (2,675)
Net income (loss) available to common stockholders, basic:127,611(327)
Dilutive securities, effect on basic earnings per share 15,402 
Other undisclosed net income available to common stockholders, diluted  
Net income (loss) available to common stockholders, diluted:143,013(327)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
Net income:143,0133,944
Comprehensive income:143,0133,944
Comprehensive loss, net of tax, attributable to noncontrolling interest(15,402)(1,596)
Comprehensive income, net of tax, attributable to parent:127,6112,348

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.

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