---
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"
generated_at: "2026-06-18T22:38:24.648415+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001831651-23-000023
- JSON: https://secwatch.observer/filing/0001831651-23-000023.json
- Plain text: https://secwatch.observer/filing/0001831651-23-000023.txt

## Key facts
- Earnings Releases
  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.
  - Period: full year 2023
  - Revenue: in the range of $470 million to $510 million
  - Net income: in the range of $87 million to $97 million
  - Guidance: initiated
  - Result: guidance update
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm
- Earnings Releases
  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.
  - Period: Fourth Quarter 2022
  - 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
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm
- Earnings Releases
  Shoals Technologies Group, Inc. reported financial results for the year ended December 31, 2022.
  - Period: the year ended December 31, 2022
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000023/0001831651-23-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.