$SHLS
Shoals Technologies Group Inc

2021 Q4 Form 10-K Financial Statement

#000183165122000008 Filed on March 11, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $48.05M $213.2M $38.75M
YoY Change 23.99% 21.48% 2.3%
Cost Of Revenue $32.12M $130.6M $23.91M
YoY Change 34.35% 19.82% -5.9%
Gross Profit $15.92M $82.65M $14.84M
YoY Change 7.3% 24.19% 19.01%
Gross Profit Margin 33.14% 38.76% 38.3%
Selling, General & Admin $11.13M $37.69M $5.520M
YoY Change 101.59% 82.09% 143.17%
% of Gross Profit 69.89% 45.61% 37.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.708M $10.05M $2.390M
YoY Change 13.31% 6.89% 3.02%
% of Gross Profit 17.01% 12.16% 16.11%
Operating Expenses $13.24M $46.41M $7.690M
YoY Change 72.21% 58.57% 77.6%
Operating Profit $2.680M $36.23M $7.150M
YoY Change -62.52% -2.8% -12.16%
Interest Expense -$3.638M $14.55M -$2.910M
YoY Change 25.02% 314.5% 838.71%
% of Operating Profit -135.75% 40.16% -40.7%
Other Income/Expense, Net $2.015M -$1.663M
YoY Change
Pretax Income $1.057M $4.030M $4.250M
YoY Change -75.13% -88.08% -45.79%
Income Tax $3.209M $86.00K
% Of Pretax Income 303.6% 2.13%
Net Earnings -$1.837M $2.348M $4.250M
YoY Change -143.22% -93.05% -45.79%
Net Earnings / Revenue -3.82% 1.1% 10.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$17.01K $23.65K $26.52K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.006M $5.006M $10.10M
YoY Change -50.44% -50.44%
Cash & Equivalents $5.006M $5.006M $10.07M
Short-Term Investments
Other Short-Term Assets $5.042M $5.042M $155.0K
YoY Change 3152.9% 2421.0%
Inventory $38.37M $38.37M $15.12M
Prepaid Expenses
Receivables $31.50M $45.03M $27.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $93.45M $93.45M $56.15M
YoY Change 66.43% 66.57%
LONG-TERM ASSETS
Property, Plant & Equipment $15.57M $15.57M $12.76M
YoY Change 22.02% 21.67%
Goodwill $69.44M $50.18M
YoY Change 38.38% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.762M $182.7M $4.236M
YoY Change 36.02% 4250.48%
Total Long-Term Assets $333.0M $333.0M $139.2M
YoY Change 139.26% 139.2%
TOTAL ASSETS
Total Short-Term Assets $93.45M $93.45M $56.15M
Total Long-Term Assets $333.0M $333.0M $139.2M
Total Assets $426.4M $426.4M $195.3M
YoY Change 118.33% 118.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.99M $19.99M $14.63M
YoY Change 36.57% 36.88%
Accrued Expenses $9.569M $9.569M $5.967M
YoY Change 60.37% 59.48%
Deferred Revenue $1.841M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $2.000M $3.500M
YoY Change -42.86% -42.86%
Total Short-Term Liabilities $31.55M $31.55M $24.10M
YoY Change 30.92% 30.93%
LONG-TERM LIABILITIES
Long-Term Debt $245.1M $245.1M $355.3M
YoY Change -31.04% -31.03%
Other Long-Term Liabilities $931.0K $157.3M $0.00
YoY Change
Total Long-Term Liabilities $246.0M $402.4M $355.3M
YoY Change -30.77% 13.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.55M $31.55M $24.10M
Total Long-Term Liabilities $246.0M $402.4M $355.3M
Total Liabilities $433.9M $423.9M $379.4M
YoY Change 14.36% 11.72%
SHAREHOLDERS EQUITY
Retained Earnings -$93.13M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.553M $2.553M -$184.1M
YoY Change
Total Liabilities & Shareholders Equity $426.4M $426.4M $195.3M
YoY Change 118.33% 118.34%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.837M $2.348M $4.250M
YoY Change -143.22% -93.05% -45.79%
Depreciation, Depletion And Amortization $2.708M $10.05M $2.390M
YoY Change 13.31% 6.89% 3.02%
Cash From Operating Activities $2.596M -$4.083M $15.96M
YoY Change -83.73% -107.55% 113.08%
INVESTING ACTIVITIES
Capital Expenditures -$1.643M $4.126M -$450.0K
YoY Change 265.11% 27.5% 45.16%
Acquisitions $12.91M
YoY Change
Other Investing Activities $0.00 -$12.91M
YoY Change
Cash From Investing Activities -$1.643M -$17.04M -$450.0K
YoY Change 265.11% 426.42% 45.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $281.1M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.585M $20.60M -14.69M
YoY Change -61.98% -143.05% 220.04%
NET CHANGE
Cash From Operating Activities 2.596M -$4.083M 15.96M
Cash From Investing Activities -1.643M -$17.04M -450.0K
Cash From Financing Activities -5.585M $20.60M -14.69M
Net Change In Cash -4.632M -$516.0K 820.0K
YoY Change -664.88% -117.25% -68.34%
FREE CASH FLOW
Cash From Operating Activities $2.596M -$4.083M $15.96M
Capital Expenditures -$1.643M $4.126M -$450.0K
Free Cash Flow $4.239M -$8.209M $16.41M
YoY Change -74.17% -116.14% 110.38%

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IncreaseDecreaseInOtherCurrentAssets
-137000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3877000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4251000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4195000 USD
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4511000 USD
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4703000 USD
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-283000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4083000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
54082000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
36182000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4126000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3236000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1719000 USD
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12909000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17035000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3236000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1719000 USD
CY2021 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
4837000 USD
CY2020 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
376046000 USD
CY2019 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
13989000 USD
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
137000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
94000 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
11821000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
278833000 USD
CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2019 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
281064000 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021 shls Payment Of Debt Acquired In Acquisition
PaymentOfDebtAcquiredInAcquisition
1537000 USD
CY2020 shls Payment Of Debt Acquired In Acquisition
PaymentOfDebtAcquiredInAcquisition
0 USD
CY2019 shls Payment Of Debt Acquired In Acquisition
PaymentOfDebtAcquiredInAcquisition
0 USD
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
9704000 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3738000 USD
CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20602000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-47855000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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-27489000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-516000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2991000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6974000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10073000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7082000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9557000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10073000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7082000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
10809000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
3033000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
1819000 USD
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
1190000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2021 shls Reclassification Of Deferred Offering Costs To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital
3902000 USD
CY2020 shls Reclassification Of Deferred Offering Costs To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital
0 USD
CY2019 shls Reclassification Of Deferred Offering Costs To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital
0 USD
CY2021 shls Establishment Of Deferred Tax Assets
EstablishmentOfDeferredTaxAssets
181901000 USD
CY2020 shls Establishment Of Deferred Tax Assets
EstablishmentOfDeferredTaxAssets
0 USD
CY2019 shls Establishment Of Deferred Tax Assets
EstablishmentOfDeferredTaxAssets
0 USD
CY2021 shls Establishment Of Amounts Payable Pursuant To Tax Receivable Agreement
EstablishmentOfAmountsPayablePursuantToTaxReceivableAgreement
154711000 USD
CY2020 shls Establishment Of Amounts Payable Pursuant To Tax Receivable Agreement
EstablishmentOfAmountsPayablePursuantToTaxReceivableAgreement
0 USD
CY2019 shls Establishment Of Amounts Payable Pursuant To Tax Receivable Agreement
EstablishmentOfAmountsPayablePursuantToTaxReceivableAgreement
0 USD
CY2021 shls Capital Contribution Related To Tax Receivable Agreement
CapitalContributionRelatedToTaxReceivableAgreement
27011000 USD
CY2020 shls Capital Contribution Related To Tax Receivable Agreement
CapitalContributionRelatedToTaxReceivableAgreement
0 USD
CY2019 shls Capital Contribution Related To Tax Receivable Agreement
CapitalContributionRelatedToTaxReceivableAgreement
0 USD
CY2021 shls Reduction Of Deferred Tax Assets And Additional Paid In Capital For Negative Basis On Redemptions
ReductionOfDeferredTaxAssetsAndAdditionalPaidInCapitalForNegativeBasisOnRedemptions
6014000 USD
CY2020 shls Reduction Of Deferred Tax Assets And Additional Paid In Capital For Negative Basis On Redemptions
ReductionOfDeferredTaxAssetsAndAdditionalPaidInCapitalForNegativeBasisOnRedemptions
0 USD
CY2019 shls Reduction Of Deferred Tax Assets And Additional Paid In Capital For Negative Basis On Redemptions
ReductionOfDeferredTaxAssetsAndAdditionalPaidInCapitalForNegativeBasisOnRedemptions
0 USD
CY2021 shls Income Tax Receivable From Merger
IncomeTaxReceivableFromMerger
3842000 USD
CY2020 shls Income Tax Receivable From Merger
IncomeTaxReceivableFromMerger
0 USD
CY2019 shls Income Tax Receivable From Merger
IncomeTaxReceivableFromMerger
0 USD
CY2021 shls Deferred Tax Asset And Additional Paid In Capital From Acquiree
DeferredTaxAssetAndAdditionalPaidInCapitalFromAcquiree
238000 USD
CY2020 shls Deferred Tax Asset And Additional Paid In Capital From Acquiree
DeferredTaxAssetAndAdditionalPaidInCapitalFromAcquiree
0 USD
CY2019 shls Deferred Tax Asset And Additional Paid In Capital From Acquiree
DeferredTaxAssetAndAdditionalPaidInCapitalFromAcquiree
0 USD
CY2021 us-gaap Stock Issued1
StockIssued1
6500000 USD
CY2020 us-gaap Stock Issued1
StockIssued1
0 USD
CY2019 us-gaap Stock Issued1
StockIssued1
0 USD
CY2021Q4 shls Number Of Subsidiaries
NumberOfSubsidiaries
5 subsidiary
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Reclassifications</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Certain prior year amounts have been reclassified to conform to the current year presentation.</span></div>
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Use of Estimates</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include revenue recognition, allowance for doubtful accounts, useful lives of property, plant and equipment and other intangible assets, impairment of long-lived assets, reserve for excess and obsolete inventory, payable pursuant to the tax receivable agreement and valuation allowance on deferred tax assets.</span></div>
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4600000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5006000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10073000 USD
CY2021Q4 us-gaap Retainage Deposit
RetainageDeposit
4800000 USD
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 USD
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 USD
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4551000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9557000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10073000 USD
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
3900000 USD
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
9700000 USD
CY2020Q4 us-gaap Retainage Deposit
RetainageDeposit
2800000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
ConcentrationsThe Company has cash deposited at certain financial institutions which, at times, may exceed the limits provided by the Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any losses on such amount and believes it is not subject to significant credit risk related to cash balances.
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
8500000 USD
CY2021Q4 shls Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners
TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners
0.85
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
32015000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
27206000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
516000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
202000 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
31499000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
27004000 USD
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
39265000 USD
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
17390000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
897000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2269000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
38368000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
15121000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21174000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16832000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5600000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4069000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15574000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12763000 USD
CY2021 us-gaap Depreciation
Depreciation
1700000 USD
CY2020 us-gaap Depreciation
Depreciation
1400000 USD
CY2019 us-gaap Depreciation
Depreciation
1200000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
100600000 USD
CY2021 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1500000 USD
CY2020 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1100000 USD
CY2019 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1000000 USD
CY2021 us-gaap Depreciation Nonproduction
DepreciationNonproduction
200000 USD
CY2020 us-gaap Depreciation Nonproduction
DepreciationNonproduction
300000 USD
CY2019 us-gaap Depreciation Nonproduction
DepreciationNonproduction
200000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
69400000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
50200000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
50176000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
50176000 USD
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
19260000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
69436000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
102200000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36964000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28612000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
65236000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
71988000 USD
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8400000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8000000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8000000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8651000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
7918000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7585000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7585000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7585000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
25912000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
65236000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5337000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11168000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
247053000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
358832000 USD
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2000000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3500000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
245053000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
355332000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
244390000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
252390000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-327000 USD
us-gaap Dilutive Securities
DilutiveSecurities
0 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-327000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99269000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99269000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11300000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
36800000 USD
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2021Q1 shls Number Of Classes Of Directors
NumberOfClassesOfDirectors
3 class
CY2021Q1 shls Limitation On Issuance Of Class B Common Stock Ratio Of Class B Common Stock Held To Number Of Llc Interests Held Maximum
LimitationOnIssuanceOfClassBCommonStockRatioOfClassBCommonStockHeldToNumberOfLLCInterestsHeldMaximum
1
CY2021Q1 shls Ratio For Cancellation Of Class B Common Stock When Llc Interests Are Redeemed Or Exchanged
RatioForCancellationOfClassBCommonStockWhenLLCInterestsAreRedeemedOrExchanged
1
CY2021Q1 shls Required Ratio Of Class A Common Stock Issued To Number Of Llc Interests Owned
RequiredRatioOfClassACommonStockIssuedToNumberOfLLCInterestsOwned
1
CY2021Q1 shls Required Ratio Of Class A Common Stock Issued To Number Of Llc Interests Owned
RequiredRatioOfClassACommonStockIssuedToNumberOfLLCInterestsOwned
1
CY2021Q1 shls Required Ratio Of Class B Common Stock Owned By Continuing Equity Owners To Number Of Llc Interests Owned By Continuing Equity Owners
RequiredRatioOfClassBCommonStockOwnedByContinuingEquityOwnersToNumberOfLLCInterestsOwnedByContinuingEquityOwners
1
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1596000 USD
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Organizational Transaction
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesOrganizationalTransaction
88644000 USD
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Sale Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSaleOfInterestByParent
70976000 USD
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Stock Compensation Plan Activity
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesStockCompensationPlanActivity
3618000 USD
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Distributions To Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesDistributionsToNonControllingInterest
4837000 USD
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Reallocation Of Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesReallocationOfNonControllingInterest
7240000 USD
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet
-10051000 USD
CY2021 shls Noncontrolling Interest Decrease From Awards Vested Shares
NoncontrollingInterestDecreaseFromAwardsVestedShares
40665 shares
CY2021 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4800000 USD
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 USD
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 USD
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 USD
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
489000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
499000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
200000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
58000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1252000 USD
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
0 USD
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
0 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
4030000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4030000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
631000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
631000 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
397000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1873000 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1476000 USD
CY2021 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
931000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
846000 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1380000 USD
CY2021 shls Effective Income Tax Rate Reconciliation Permanent Tax Adjustments Amount
EffectiveIncomeTaxRateReconciliationPermanentTaxAdjustmentsAmount
342000 USD
CY2021 shls Effective Income Tax Rate Reconciliation Pre Ipo Income Amount
EffectiveIncomeTaxRateReconciliationPreIPOIncomeAmount
-562000 USD
CY2021 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
342000 USD
CY2021 shls Effective Income Tax Rate Reconciliation Remeasurement Of Tax Receivable Agreement Amount
EffectiveIncomeTaxRateReconciliationRemeasurementOfTaxReceivableAgreementAmount
349000 USD
CY2021 shls Effective Income Tax Rate Reconciliation Remeasurement Of Deferred Taxes Amount
EffectiveIncomeTaxRateReconciliationRemeasurementOfDeferredTaxesAmount
-1939000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
77000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
789000 USD
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1983000 USD
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
77000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86000 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2021Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
161078000 USD
CY2021Q4 shls Deferred Tax Assets Tax Receivable Agreement
DeferredTaxAssetsTaxReceivableAgreement
13014000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3772000 USD
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1077000 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
178941000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1983000 USD
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
176958000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2000000 USD
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
900000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
604000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
604000 USD
CY2021Q4 shls Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners
TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners
0.85
CY2020Q4 shls Liability On Tax Receivable Agreement
LiabilityOnTaxReceivableAgreement
0 USD
CY2021 shls Liability On Tax Receivable Agreement Share Exchanges
LiabilityOnTaxReceivableAgreementShareExchanges
27759000 USD
CY2021 shls Liability On Tax Receivable Agreement Merger
LiabilityOnTaxReceivableAgreementMerger
14418000 USD
CY2021 shls Liability On Tax Receivable Agreement Follow On Offering Exchange
LiabilityOnTaxReceivableAgreementFollowOnOfferingExchange
62025000 USD
CY2021 shls Liability On Tax Receivable Agreement Exchange
LiabilityOnTaxReceivableAgreementExchange
50509000 USD
CY2021 shls Liability On Tax Receivable Agreement Adjustment For Change In Estimated Tax Rate
LiabilityOnTaxReceivableAgreementAdjustmentForChangeInEstimatedTaxRate
1663000 USD
CY2021 shls Liability On Tax Receivable Agreement Payments
LiabilityOnTaxReceivableAgreementPayments
0 USD
CY2021Q4 shls Liability On Tax Receivable Agreement Noncurrent
LiabilityOnTaxReceivableAgreementNoncurrent
156374000 USD
CY2021Q4 shls Liability On Tax Receivable Agreement Current
LiabilityOnTaxReceivableAgreementCurrent
0 USD
CY2021Q4 shls Liability On Tax Receivable Agreement
LiabilityOnTaxReceivableAgreement
156374000 USD
CY2021Q4 shls Deferred Income Tax Assets Tax Receivable Agreement
DeferredIncomeTaxAssetsTaxReceivableAgreement
184000000 USD
CY2021Q4 shls Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners
TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners
0.85
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
213212000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
175518000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
144496000 USD

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