---
schema_version: "secwatch.filing_event.v1"
accession: "0001831651-23-000045"
form_type: "8-K"
ticker: "SHLS"
cik: "0001831651"
company_name: "Shoals Technologies Group, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T14:16:52.032129+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Shoals Q1 revenue $105M (+55% YoY); raises FY2023 guidance on record backlog

## Summary
- Revenue $105.1M (+55% YoY); System Solutions revenue $91.3M (+95% YoY) with gross margin 45.9% (+720bps).
- Backlog of $527.5M, up 75% YoY, reflecting strong demand for combine-as-you-go solutions.
- Net income $17.0M, diluted EPS $0.10; adjusted EPS $0.14 vs $0.05 prior year.
- Raising FY2023 outlook: revenue $480M-$510M; Adjusted EBITDA $145M-$160M; Adj. net income $92M-$102M.
- Six new BLA customers signed in Q1, bringing total to 42.

## SEC filing metadata
- accession: 0001831651-23-000045
- form_type: 8-K
- ticker: SHLS
- cik: 0001831651
- company_name: Shoals Technologies Group, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000045/0001831651-23-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000045/shls-20230508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001831651-23-000045
- JSON: https://secwatch.observer/filing/0001831651-23-000045.json
- Plain text: https://secwatch.observer/filing/0001831651-23-000045.txt

## Key facts
- Earnings Releases
  Shoals Technologies Group, Inc. reported the three months ended March 31, 2023 results: revenue $105.1 million, net income $17.0 million, EPS $0.10. Guidance raised.
  - Period: the three months ended March 31, 2023
  - Revenue: $105.1 million
  - Net income: $17.0 million
  - EPS: $0.10
  - Guidance: raised
  - Result: reported results
  source text: Shoals Technologies Group, Inc. Reports Financial Results for First Quarter 2023 – Revenue of $105.1 million, up 55% Compared to the Prior Year Period and a Quarterly Record
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831651/000183165123000045/0001831651-23-000045-index.htm

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