Shoals Q4 revenue $94.7M (+97% YoY); CEO to depart; guides FY23 rev $470-510M

Full Year 2023 Outlook Based on current business conditions, business trends and other factors, for the full year 2023, the Company expects: • Revenue to be in the range of $470 million to $510 million • Adjusted EBITDA to be in the range of $140 million to $155 million • Adjusted net income to be in the range of $87 million to $97 million • Interest expense to be in the range of $22 to $26 million • Capital expenditures to be in the range of $8 to $12 million

Revenue was $94.7 million, compared to $48.0 million for the prior-year period, an increase of 97% driven by higher sales volumes as a result of greater demand for solar EBOS generally and the Company’s combine-as-you-go system solutions specifically as well as our EV solutions products. 1 Exhibit 99.1 System Solutions revenue increased 150% while Components revenue decreased 14%, compared to the prior-year period. System Solutions represented 86% of revenue in the quarter versus 68% in the prior-year period. Gross profit increased 154% to $40.4 million, compared to $15.9 million in the prior-year period. Gross profit as a percentage of revenue increased over 950 basis points to 42.7% compared to 33.1% in the prior-year period, due to a higher proportion of revenue generated from the Company’s combine-as-you-go system solutions, which carry higher margins than its other products, and increased leverage on fixed costs as a result of higher sales volumes. General and administrative expen

On February 28, 2023 , Shoals Technologies Group, Inc. (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2022.