Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $144M | $176M | $213M | $327M | $489M | $399M | $475M |
| Revenue growth | — | 21.5% | 21.5% | 53.3% | 49.6% | -18.4% | 19.1% |
| Gross profit | $44.2M | $66.5M | $82.6M | $131M | $168M | $142M | $167M |
| Gross margin | 30.6% | 37.9% | 38.8% | 40.2% | 34.4% | 35.6% | 35.0% |
| Operating income | $26.9M | $37.3M | $36.2M | $66.3M | $79.0M | $51.2M | $56.4M |
| Operating margin | 18.6% | 21.2% | 17.0% | 20.3% | 16.2% | 12.8% | 11.9% |
| Net income | $25.1M | $33.8M | $2.35M | $128M | $40.0M | $24.1M | $33.6M |
| Net margin | 17.4% | 19.2% | 1.1% | 39.0% | 8.2% | 6.0% | 7.1% |
| EPS (diluted) | — | — | $0.00 | $0.85 | $0.24 | $0.14 | $0.20 |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $36.2M | $54.1M | -$4.08M | $39.5M | $92.0M | $80.4M | $17.1M |
| Capital expenditures | $1.72M | $3.24M | $4.13M | $3.15M | $10.6M | $8.39M | $33.0M |
| Free cash flow | $34.5M | $50.8M | -$8.21M | $36.3M | $81.4M | $72.0M | -$16.0M |
| Share buybacks | — | — | — | $0.00 | $0.00 | $25.3M | $0.00 |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $7.08M | $10.1M | $5.01M | $8.77M | $22.7M | $23.5M | $7.32M |
| Total assets | — | $195M | $426M | $595M | $844M | $793M | $904M |
| Total liabilities | — | $379M | $434M | $294M | $299M | $236M | $304M |
| Long-term debt | — | $355M | $245M | $237M | $179M | $142M | — |
| Shareholders' equity | $150M | -$184M | -$7.50M | $301M | $545M | $557M | $600M |
| Retained earnings | — | — | -$93.1M | $34.5M | $74.5M | $98.6M | $132M |
| Shares (wtd avg diluted) | — | — | 99.3M | 168M | 165M | 169M | 168M |
Every figure is extracted from Shoals Technologies Group, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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