{"schema_version":"secwatch.filing_event.v1","accession":"0001831651-23-000023","form_type":"8-K","ticker":"SHLS","cik":"0001831651","company_name":"Shoals Technologies Group, Inc.","filed_at":"2023-02-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.912130+00:00","generated_at":"2026-06-18T22:38:24.648415+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Shoals Q4 revenue $94.7M (+97% YoY); CEO to depart; guides FY23 rev $470-510M","bullets":["Q4 revenue $94.7M (+97% YoY); gross margin 42.7% (+950 bps); net income $118.3M incl $110.9M one-time gain.","Backlog and awarded orders $428.6M (+43% YoY); System Solutions revenue up 150%.","FY23 guidance: revenue $470-510M, Adj. EBITDA $140-155M, Adj. net income $87-97M.","CEO Jason Whitaker announces departure, stating company is stronger than ever; no successor named."],"urls":{"canonical":"https://secwatch.observer/filing/0001831651-23-000023","json":"https://secwatch.observer/filing/0001831651-23-000023.json","markdown":"https://secwatch.observer/filing/0001831651-23-000023.md","text":"https://secwatch.observer/filing/0001831651-23-000023.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/shls-20230228.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T22:38:24.648415+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"040eadbd5cd7f7cc91d7484e201a6a206dab625a","claim":"Shoals Technologies Group, Inc. reported full year 2023 results: revenue in the range of $470 million to $510 million, net income in the range of $87 million to $97 million. Guidance initiated.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full year 2023"},{"label":"Revenue","value":"in the range of $470 million to $510 million"},{"label":"Net income","value":"in the range of $87 million to $97 million"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"46c94eef1a515a932e9c1465f203a2a92477eada","claim":"Shoals Technologies Group, Inc. reported Fourth Quarter 2022 results: revenue $94.7 million, net income Net income was $118.3 million, EPS Basic and diluted net income per share was $0.94 and $0.70, respectively.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Fourth Quarter 2022"},{"label":"Revenue","value":"$94.7 million"},{"label":"Net income","value":"Net income was $118.3 million"},{"label":"EPS","value":"Basic and diluted net income per share was $0.94 and $0.70, respectively"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"5bec01b96088d2931cebb95efd372920512a64bd","claim":"Shoals Technologies Group, Inc. reported financial results for the year ended December 31, 2022.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}