$SHLS
Shoals Technologies Group Inc Stock $shls

$shls Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000183165122000032 Filed on May 17, 2022

Income Statement

Concept	2022 Q1	2021 Q4	2021 Q1
Revenue	$67.98M	$48.05M	$45.60M
YoY Change	49.06%	23.99%	11.94%
Cost Of Revenue	$41.68M	$32.12M	$26.83M
YoY Change	55.36%	34.35%	1.04%
Gross Profit	$26.29M	$15.92M	$18.77M
YoY Change	40.04%	7.3%	32.34%
Gross Profit Margin	38.68%	33.14%	41.17%
Selling, General & Admin	$13.82M	$11.13M	$6.720M
YoY Change	105.64%	101.59%
% of Gross Profit	52.56%	69.89%	35.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$2.694M	$2.708M	$2.401M
YoY Change	12.2%	13.31%	3.4%
% of Gross Profit	10.25%	17.01%	12.79%
Operating Expenses	$16.29M	$13.24M	$8.884M
YoY Change	83.31%	72.21%	92.34%
Operating Profit	$10.01M	$2.680M	$9.890M
YoY Change	1.18%	-62.52%	3.38%
Interest Expense	$3.836M	-$3.638M	$3.709M
YoY Change	3.42%	25.02%	1263.6%
% of Operating Profit	38.33%	-135.75%	37.5%
Other Income/Expense, Net		$2.015M	$0.00
YoY Change
Pretax Income	$6.171M	$1.057M	-$9.810M
YoY Change	-162.91%	-75.13%
Income Tax	$1.522M	$3.209M	-$1.475M
% Of Pretax Income	24.66%	303.6%
Net Earnings	$2.640M	-$1.837M	-$2.859M
YoY Change	-192.34%	-143.22%	-130.76%
Net Earnings / Revenue	3.88%	-3.82%	-6.27%
Basic Earnings Per Share	$0.02		-$0.06
Diluted Earnings Per Share	$0.02	-$17.01K	-$0.06
COMMON SHARES
Basic Shares Outstanding	112.2M shares		93.54M shares
Diluted Shares Outstanding	112.2M shares		93.54M shares

Balance Sheet

Concept	2022 Q1	2021 Q4	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.534M	$5.006M	$4.200M
YoY Change	-39.67%	-50.44%
Cash & Equivalents	$2.534M	$5.006M	$4.227M
Short-Term Investments
Other Short-Term Assets	$12.65M	$5.042M	$6.512M
YoY Change	94.27%	3152.9%
Inventory	$49.48M	$38.37M	$21.09M
Prepaid Expenses
Receivables	$56.89M	$31.50M	$28.14M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$137.7M	$93.45M	$69.96M
YoY Change	96.82%	66.43%
LONG-TERM ASSETS
Property, Plant & Equipment	$16.03M	$15.57M	$13.16M
YoY Change	21.82%	22.02%
Goodwill	$69.44M	$69.44M	$50.20M
YoY Change	38.32%	38.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$12.80M	$5.762M	$475.0K
YoY Change	2594.53%	36.02%
Total Long-Term Assets	$336.8M	$333.0M	$182.3M
YoY Change	84.74%	139.26%
TOTAL ASSETS
Total Short-Term Assets	$137.7M	$93.45M	$69.96M
Total Long-Term Assets	$336.8M	$333.0M	$182.3M
Total Assets	$474.5M	$426.4M	$252.3M
YoY Change	88.09%	118.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$17.88M	$19.99M	$12.94M
YoY Change	38.16%	36.57%
Accrued Expenses	$14.76M	$9.569M	$8.534M
YoY Change	73.0%	60.37%
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	$38.71M	$31.55M	$24.98M
YoY Change	54.99%	30.92%
LONG-TERM LIABILITIES
Long-Term Debt	$279.8M	$245.1M	$228.5M
YoY Change	22.49%	-31.04%
Other Long-Term Liabilities	$5.074M	$931.0K	$41.70M
YoY Change	-87.83%
Total Long-Term Liabilities	$284.9M	$246.0M	$228.5M
YoY Change	24.71%	-30.77%
TOTAL LIABILITIES
Total Short-Term Liabilities	$38.71M	$31.55M	$24.98M
Total Long-Term Liabilities	$284.9M	$246.0M	$228.5M
Total Liabilities	$475.9M	$433.9M	$295.1M
YoY Change	61.26%	14.36%
SHAREHOLDERS EQUITY
Retained Earnings	-$90.49M	-$93.13M	-$98.34M
YoY Change	-7.98%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$7.885M	$2.553M	-$20.27M
YoY Change
Total Liabilities & Shareholders Equity	$474.5M	$426.4M	$252.3M
YoY Change	88.09%	118.33%

Cashflow Statement

Concept	2022 Q1	2021 Q4	2021 Q1
OPERATING ACTIVITIES
Net Income	$2.640M	-$1.837M	-$2.859M
YoY Change	-192.34%	-143.22%	-130.76%
Depreciation, Depletion And Amortization	$2.694M	$2.708M	$2.401M
YoY Change	12.2%	13.31%	3.4%
Cash From Operating Activities	-$25.86M	$2.596M	-$17.78M
YoY Change	45.45%	-83.73%	-199.11%
INVESTING ACTIVITIES
Capital Expenditures	$882.0K	-$1.643M	$863.0K
YoY Change	2.2%	265.11%	8.55%
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change
Cash From Investing Activities	-$882.0K	-$1.643M	-$863.0K
YoY Change	2.2%	265.11%	8.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$30.27M	-5.585M	$12.80M
YoY Change	136.52%	-61.98%	-44.15%
NET CHANGE
Cash From Operating Activities	-$25.86M	2.596M	-$17.78M
Cash From Investing Activities	-$882.0K	-1.643M	-$863.0K
Cash From Financing Activities	$30.27M	-5.585M	$12.80M
Net Change In Cash	$3.524M	-4.632M	-$5.846M
YoY Change	-160.28%	-664.88%	-114.6%
FREE CASH FLOW
Cash From Operating Activities	-$25.86M	$2.596M	-$17.78M
Capital Expenditures	$882.0K	-$1.643M	$863.0K
Free Cash Flow	-$26.74M	$4.239M	-$18.64M
YoY Change	43.44%	-74.17%	-208.74%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q1	dei	Amendment Flag AmendmentFlag	false
CY2022Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001831651
CY2022Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	TN
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherAssetsCurrent
CY2022Q1	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrent
CY2022Q1	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent
CY2022Q1	dei	Document Type DocumentType	10-Q
CY2022Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q1	dei	Document Period End Date DocumentPeriodEndDate	2022-03-31
CY2022Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q1	dei	Entity File Number EntityFileNumber	001-39942
CY2022Q1	dei	Entity Registrant Name EntityRegistrantName	Shoals Technologies Group, Inc.
CY2022Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2022Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	85-3774438
CY2022Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	1400 Shoals Way
CY2022Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Portland
CY2022Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	37148
CY2022Q1	dei	City Area Code CityAreaCode	(615)
CY2022Q1	dei	Local Phone Number LocalPhoneNumber	451-1400
CY2022Q1	dei	Security12b Title Security12bTitle	Class A Common Stock, $0.00001 Par Value
CY2022Q1	dei	Trading Symbol TradingSymbol	SHLS
CY2022Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2022Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2022Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022Q1	dei	Entity Shell Company EntityShellCompany	false
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CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-17779000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-882000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-863000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	882000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	863000	USD
CY2022Q1	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	2938000	USD
CY2021Q1	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	0	USD
CY2022Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	1297000	USD
CY2021Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	137000	USD
CY2022Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2021Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	94000	USD
CY2022Q1	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	500000	USD
CY2021Q1	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	150875000	USD
CY2022Q1	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	35000000	USD
CY2021Q1	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	19000000	USD
CY2022Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	0	USD
CY2021Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	9619000	USD
CY2021Q1	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	124312000	USD
CY2022Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	0	USD
CY2021Q1	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	278833000	USD
CY2022Q1	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	0	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	30265000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	12796000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	3524000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-5846000	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
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13081000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	4227000	USD
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	2710000	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	2209000	USD
CY2022Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	37000	USD
CY2021Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2022Q1	shls	Reclassification Of Deferred Offering Costs To Additional Paid In Capital ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital	0	USD
CY2021Q1	shls	Reclassification Of Deferred Offering Costs To Additional Paid In Capital ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital	3738000	USD
CY2022Q1	shls	Establishment Of Deferred Tax Assets EstablishmentOfDeferredTaxAssets	0	USD
CY2021Q1	shls	Establishment Of Deferred Tax Assets EstablishmentOfDeferredTaxAssets	49049000	USD
CY2022Q1	shls	Establishment Of Amounts Payable Pursuant To Tax Receivable Agreement EstablishmentOfAmountsPayablePursuantToTaxReceivableAgreement	0	USD
CY2021Q1	shls	Establishment Of Amounts Payable Pursuant To Tax Receivable Agreement EstablishmentOfAmountsPayablePursuantToTaxReceivableAgreement	41692000	USD
CY2022Q1	shls	Capital Contribution Related To Tax Receivable Agreement CapitalContributionRelatedToTaxReceivableAgreement	0	USD
CY2021Q1	shls	Capital Contribution Related To Tax Receivable Agreement CapitalContributionRelatedToTaxReceivableAgreement	7357000	USD
CY2022Q1	shls	Income Tax Receivable From Merger IncomeTaxReceivableFromMerger	0	USD
CY2021Q1	shls	Income Tax Receivable From Merger IncomeTaxReceivableFromMerger	3069000	USD
CY2022Q1	shls	Accrued Equity Based Compensation AccruedEquityBasedCompensation	1805000	USD
CY2021Q1	shls	Accrued Equity Based Compensation AccruedEquityBasedCompensation	0	USD
CY2022Q1	shls	Number Of Subsidiaries NumberOfSubsidiaries	5	subsidiary
CY2022Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	62966000	USD
CY2022Q1	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>
CY2022Q1	us-gaap	Goodwill Goodwill	69400000	USD
CY2022Q1	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>
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	10500000	USD
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4600000	USD
CY2021Q4	us-gaap	Goodwill Goodwill	69400000	USD
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2534000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5006000	USD
CY2022Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	4222000	USD
CY2021Q4	us-gaap	Restricted Cash Current RestrictedCashCurrent	0	USD
CY2022Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	6325000	USD
CY2021Q4	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	4551000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13081000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9557000	USD
CY2022Q1	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	57379000	USD
CY2021Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	32015000	USD
CY2022Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	492000	USD
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	516000	USD
CY2021Q1	us-gaap	Depreciation Nonproduction DepreciationNonproduction	100000	USD
CY2022Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	56887000	USD
CY2021Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	31499000	USD
CY2021Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	2000000	USD
CY2022Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	50376000	USD
CY2021Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	39265000	USD
CY2022Q1	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	897000	USD
CY2021Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	897000	USD
CY2022Q1	us-gaap	Inventory Net InventoryNet	49479000	USD
CY2021Q4	us-gaap	Inventory Net InventoryNet	38368000	USD
CY2021Q1	us-gaap	Cost Of Goods And Services Sold Depreciation CostOfGoodsAndServicesSoldDepreciation	300000	USD
CY2022Q1	us-gaap	Depreciation Nonproduction DepreciationNonproduction	100000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	22057000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	21174000	USD
CY2022Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	6025000	USD
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	5600000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	16032000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	15574000	USD
CY2022Q1	us-gaap	Depreciation Depreciation	400000	USD
CY2021Q1	us-gaap	Depreciation Depreciation	400000	USD
CY2022Q1	us-gaap	Cost Of Goods And Services Sold Depreciation CostOfGoodsAndServicesSoldDepreciation	300000	USD
CY2021Q4	us-gaap	Goodwill Goodwill	69436000	USD
CY2022Q1	us-gaap	Goodwill Purchase Accounting Adjustments GoodwillPurchaseAccountingAdjustments	0	USD
CY2022Q1	us-gaap	Goodwill Goodwill	69436000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	102200000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	102200000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	39234000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	36964000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	65236000	USD
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	2300000	USD
CY2022Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	5061000	USD
CY2021Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	5337000	USD
CY2022Q1	us-gaap	Long Term Debt LongTermDebt	281829000	USD
CY2021Q4	us-gaap	Long Term Debt LongTermDebt	247053000	USD
CY2022Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	2000000	USD
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	2000000	USD
CY2022Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	279829000	USD
CY2021Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	245053000	USD
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	2640000	USD
CY2021Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-11009000	USD
CY2022Q1	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
CY2021Q1	us-gaap	Dilutive Securities DilutiveSecurities	-5475000	USD
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	2640000	USD
CY2021Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-5534000	USD
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	112211000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	93540000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	112240000	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	93540000	shares
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.02
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.06
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.02
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.06
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3800000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1400000	USD
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	32800000	USD
CY2022Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y9M
CY2021Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2021Q1	shls	Number Of Classes Of Directors NumberOfClassesOfDirectors	3	class
CY2021Q1	shls	Number Of Votes Per Share Of Common Stock NumberOfVotesPerShareOfCommonStock	1	vote
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	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-5475000	USD
CY2022Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Organizational Transaction ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesOrganizationalTransaction	0	USD
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
CY2022Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2009000	USD
CY2021Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Organizational Transaction ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesOrganizationalTransaction	88644000	USD
CY2022Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Sale Of Interest By Parent ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSaleOfInterestByParent	0	USD
CY2021Q1	us-gaap	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Sale Of Interest By Parent ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSaleOfInterestByParent	70976000	USD
CY2022Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Stock Compensation Plan Activity ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesStockCompensationPlanActivity	1647000	USD
CY2021Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Stock Compensation Plan Activity ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesStockCompensationPlanActivity	550000	USD
CY2022Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Distributions To Non Controlling Interest ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesDistributionsToNonControllingInterest	2938000	USD
CY2021Q1	shls	Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Distributions To Non Controlling Interest ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesDistributionsToNonControllingInterest	0	USD
CY2022Q1	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	718000	USD
CY2021Q1	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	-22593000	USD
CY2022Q1	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	2900000	USD
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4993000	USD
CY2022Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1062000	USD
CY2022Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	4097000	USD
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	5159000	USD
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	280000	USD
CY2022Q1	us-gaap	Variable Lease Cost VariableLeaseCost	31000	USD
CY2022Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	900000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1339000	USD
CY2022Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	143000	USD
CY2022Q1	us-gaap	Lease Cost LeaseCost	454000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	976000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1264000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	960000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	952000	USD
CY2022Q1	shls	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	246000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	5737000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	578000	USD
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	5159000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	489000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	499000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	200000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	58000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	6000	USD
CY2022Q1	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	1252000	USD
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P4Y6M
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	4.5
CY2022Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	288000	USD
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	1239000	USD
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	3990000	USD
CY2022Q1	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	0	USD
CY2022Q1	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	200000	USD
CY2021Q1	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	100000	USD
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.247
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.151
CY2021Q1	shls	Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners	0.85
CY2021Q4	shls	Liability On Tax Receivable Agreement LiabilityOnTaxReceivableAgreement	156374000	USD
CY2020Q4	shls	Liability On Tax Receivable Agreement LiabilityOnTaxReceivableAgreement	0	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Share Exchanges LiabilityOnTaxReceivableAgreementShareExchanges	0	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Share Exchanges LiabilityOnTaxReceivableAgreementShareExchanges	28202000	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Merger LiabilityOnTaxReceivableAgreementMerger	0	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Merger LiabilityOnTaxReceivableAgreementMerger	13490000	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Adjustment For Change In Estimated Tax Rate LiabilityOnTaxReceivableAgreementAdjustmentForChangeInEstimatedTaxRate	0	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Adjustment For Change In Estimated Tax Rate LiabilityOnTaxReceivableAgreementAdjustmentForChangeInEstimatedTaxRate	0	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Payments LiabilityOnTaxReceivableAgreementPayments	0	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Payments LiabilityOnTaxReceivableAgreementPayments	0	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement LiabilityOnTaxReceivableAgreement	156374000	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement LiabilityOnTaxReceivableAgreement	41692000	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Current LiabilityOnTaxReceivableAgreementCurrent	4065000	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Current LiabilityOnTaxReceivableAgreementCurrent	0	USD
CY2022Q1	shls	Liability On Tax Receivable Agreement Noncurrent LiabilityOnTaxReceivableAgreementNoncurrent	152309000	USD
CY2021Q1	shls	Liability On Tax Receivable Agreement Noncurrent LiabilityOnTaxReceivableAgreementNoncurrent	41692000	USD
CY2022Q1	shls	Deferred Income Tax Assets Tax Receivable Agreement DeferredIncomeTaxAssetsTaxReceivableAgreement	184000000	USD
CY2022Q1	shls	Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners	0.85
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	67976000	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	45604000	USD

Files In Submission

Name	View Source	Status
0001831651-22-000032-index-headers.html	Edgar Link	pending
0001831651-22-000032-index.html	Edgar Link	pending
0001831651-22-000032.txt	Edgar Link	pending
0001831651-22-000032-xbrl.zip	Edgar Link	pending
exhibit311202210-qq1.htm	Edgar Link	pending
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$SHLS
Shoals Technologies Group Inc Stock $shls

2022 Q1 Form 10-Q Financial Statement

#000183165122000032 Filed on May 17, 2022

Income Statement

Balance Sheet

Cashflow Statement

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$SHLS Shoals Technologies Group Inc Stock $shls

2022 Q1 Form 10-Q Financial Statement

#000183165122000032 Filed on May 17, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SHLS
Shoals Technologies Group Inc Stock $shls