earnings
confidence high
sentiment neutral
materiality 0.75
Shoals Technologies Q4 revenue $48M (+24% YoY); net loss $2.2M; guides FY2022 revenue $300-350M
Shoals Technologies Group, Inc.
- Q4 revenue $48.0M, up 24% YoY; gross margin 33.1% vs 38.3% due to $1M higher material/logistics costs.
- Net loss of $2.2M ($0.04 diluted loss per share) vs net income $4.2M in prior year; adjusted EBITDA $11.3M down from $14.1M.
- Backlog and awarded orders hit record $299M, nearly double YoY (+94%) and up 10% sequentially.
- Guides Q1 2022 revenue $68-74M, adjusted EBITDA $16-20M; full year 2022 revenue $300-350M, adj. EBITDA $79-97M.
- System Solutions revenue grew 29% YoY; BLA customers quadrupled year-over-year; IEC certification in Europe received.