$SHLS
Shoals Technologies Group Inc

2022 Q2 Form 10-Q Financial Statement

#000183165122000048 Filed on August 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $73.49M $48.05M $59.72M
YoY Change 23.05% 23.99% 37.52%
Cost Of Revenue $44.90M $32.12M $33.54M
YoY Change 33.85% 34.35% 26.11%
Gross Profit $28.59M $15.92M $26.18M
YoY Change 9.22% 7.3% 55.56%
Gross Profit Margin 38.91% 33.14% 43.83%
Selling, General & Admin $13.17M $11.13M $9.918M
YoY Change 32.74% 101.59%
% of Gross Profit 46.04% 69.89% 37.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $500.0K $2.708M $400.0K
YoY Change 25.0% 13.31% 33.33%
% of Gross Profit 1.75% 17.01% 1.53%
Operating Expenses $15.61M $13.24M $12.08M
YoY Change 29.21% 72.21% 6.14%
Operating Profit $12.98M $2.680M $14.10M
YoY Change -7.91% -62.52% 158.79%
Interest Expense $4.170M -$3.638M $3.620M
YoY Change 15.19% 25.02% 1508.89%
% of Operating Profit 32.12% -135.75% 25.68%
Other Income/Expense, Net $0.00 $2.015M -$1.664M
YoY Change -100.0%
Pretax Income $8.814M $1.057M $8.815M
YoY Change -0.01% -75.13%
Income Tax $1.511M $3.209M -$339.0K
% Of Pretax Income 17.14% 303.6% -3.85%
Net Earnings $4.402M -$1.837M $4.558M
YoY Change -3.42% -143.22% -12.73%
Net Earnings / Revenue 5.99% -3.82% 7.63%
Basic Earnings Per Share $0.04 $0.05
Diluted Earnings Per Share $0.04 -$17.01K $0.05
COMMON SHARES
Basic Shares Outstanding 112.5M shares 93.54M shares
Diluted Shares Outstanding 112.6M shares 166.8M shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.09M $5.006M $13.17M
YoY Change -23.36% -50.44%
Cash & Equivalents $10.09M $5.006M $13.17M
Short-Term Investments
Other Short-Term Assets $8.827M $5.042M $7.292M
YoY Change 21.05% 3152.9%
Inventory $64.96M $38.37M $21.27M
Prepaid Expenses
Receivables $57.83M $31.50M $42.98M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $156.3M $93.45M $91.51M
YoY Change 70.79% 66.43%
LONG-TERM ASSETS
Property, Plant & Equipment $16.83M $15.57M $13.62M
YoY Change 23.55% 22.02%
Goodwill $69.94M $69.44M $50.20M
YoY Change 39.32% 38.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.77M $5.762M $840.0K
YoY Change 2015.6% 36.02%
Total Long-Term Assets $340.3M $333.0M $182.2M
YoY Change 86.78% 139.26%
TOTAL ASSETS
Total Short-Term Assets $156.3M $93.45M $91.51M
Total Long-Term Assets $340.3M $333.0M $182.2M
Total Assets $496.6M $426.4M $273.7M
YoY Change 81.44% 118.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.26M $19.99M $14.22M
YoY Change 70.54% 36.57%
Accrued Expenses $25.30M $9.569M $9.499M
YoY Change 166.31% 60.37%
Deferred Revenue $13.87M $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 $55.14M $31.55M $27.22M
YoY Change 102.54% 30.92%
LONG-TERM LIABILITIES
Long-Term Debt $274.7M $245.1M $237.9M
YoY Change 15.47% -31.04%
Other Long-Term Liabilities $4.793M $931.0K $43.36M
YoY Change -88.95%
Total Long-Term Liabilities $279.4M $246.0M $237.9M
YoY Change 17.48% -30.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.14M $31.55M $27.22M
Total Long-Term Liabilities $279.4M $246.0M $237.9M
Total Liabilities $488.2M $433.9M $308.4M
YoY Change 58.27% 14.36%
SHAREHOLDERS EQUITY
Retained Earnings -$86.09M -$93.13M -$93.78M
YoY Change -8.2%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.15M $2.553M -$14.90M
YoY Change
Total Liabilities & Shareholders Equity $496.6M $426.4M $273.7M
YoY Change 81.44% 118.33%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $4.402M -$1.837M $4.558M
YoY Change -3.42% -143.22% -12.73%
Depreciation, Depletion And Amortization $500.0K $2.708M $400.0K
YoY Change 25.0% 13.31% 33.33%
Cash From Operating Activities $19.12M $2.596M $3.666M
YoY Change 421.44% -83.73%
INVESTING ACTIVITIES
Capital Expenditures -$1.267M -$1.643M -$876.0K
YoY Change 44.63% 265.11%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$1.267M -$1.643M -$876.0K
YoY Change 44.63% 265.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.128M -5.585M 6.148M
YoY Change -215.94% -61.98%
NET CHANGE
Cash From Operating Activities 19.12M 2.596M 3.666M
Cash From Investing Activities -1.267M -1.643M -876.0K
Cash From Financing Activities -7.128M -5.585M 6.148M
Net Change In Cash 10.72M -4.632M 8.938M
YoY Change 19.95% -664.88%
FREE CASH FLOW
Cash From Operating Activities $19.12M $2.596M $3.666M
Capital Expenditures -$1.267M -$1.643M -$876.0K
Free Cash Flow $20.38M $4.239M $4.542M
YoY Change 348.77% -74.17%

Facts In Submission

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Shoals Technologies Group, Inc.
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1955000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 usd
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2973000 usd
CY2021Q2 shls Noncontrolling Interest Increase Decrease From Equity Reallocation
NoncontrollingInterestIncreaseDecreaseFromEquityReallocation
0 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-34722000 usd
us-gaap Profit Loss
ProfitLoss
11952000 usd
us-gaap Profit Loss
ProfitLoss
820000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5402000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4808000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
684000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5415000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
7896000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4172000 usd
us-gaap Inventory Write Down
InventoryWriteDown
443000 usd
us-gaap Inventory Write Down
InventoryWriteDown
0 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2847000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-524000 usd
shls Tax Receivable Agreement Liability Adjustment
TaxReceivableAgreementLiabilityAdjustment
0 usd
shls Tax Receivable Agreement Liability Adjustment
TaxReceivableAgreementLiabilityAdjustment
1664000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-61000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26259000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
15973000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1047000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
3003000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
27404000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6151000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2059000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
4631000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4060000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-410000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
16742000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-362000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6743000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14114000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2149000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1736000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2149000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1736000 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
4566000 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
2973000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1297000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
137000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
94000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
38000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
34000000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
278833000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
124312000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
9619000 usd
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
10125000 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4551000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23137000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18948000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14245000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3098000 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
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23802000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13171000 usd
us-gaap Interest Paid Net
InterestPaidNet
6127000 usd
us-gaap Interest Paid Net
InterestPaidNet
5634000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
708000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1120000 usd
shls Reclassification Of Deferred Offering Costs To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital
0 usd
shls Reclassification Of Deferred Offering Costs To Additional Paid In Capital
ReclassificationOfDeferredOfferingCostsToAdditionalPaidInCapital
3736000 usd
shls Recording Of Deferred Tax Assets
RecordingOfDeferredTaxAssets
948000 usd
shls Recording Of Deferred Tax Assets
RecordingOfDeferredTaxAssets
49049000 usd
shls Recording Of Amounts Payable Pursuant To Tax Receivable Agreement
RecordingOfAmountsPayablePursuantToTaxReceivableAgreement
800000 usd
shls Recording Of Amounts Payable Pursuant To Tax Receivable Agreement
RecordingOfAmountsPayablePursuantToTaxReceivableAgreement
41692000 usd
shls Capital Contribution Related To Tax Receivable Agreement
CapitalContributionRelatedToTaxReceivableAgreement
148000 usd
shls Capital Contribution Related To Tax Receivable Agreement
CapitalContributionRelatedToTaxReceivableAgreement
7178000 usd
shls Income Tax Receivable From Merger
IncomeTaxReceivableFromMerger
0 usd
shls Income Tax Receivable From Merger
IncomeTaxReceivableFromMerger
3069000 usd
CY2022Q2 shls Number Of Subsidiaries
NumberOfSubsidiaries
5 subsidiary
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 period amounts have been reclassified to conform to the current period presentation.</span></div>
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23802000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9557000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10094000 usd
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, allowance for slow moving inventory, payable pursuant to the tax receivable agreement (“TRA”) and valuation allowance on deferred tax assets.</span></div>
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13700000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4600000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5006000 usd
CY2022Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
3583000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
31499000 usd
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
58318000 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
32015000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
491000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
516000 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
57827000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
400000 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
66301000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
39265000 usd
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1340000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
897000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
64961000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
38368000 usd
CY2022Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
400000 usd
CY2021Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
300000 usd
CY2022Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
100000 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23323000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21174000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6493000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5600000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16830000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15574000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
500000 usd
CY2021Q2 us-gaap Depreciation Nonproduction
DepreciationNonproduction
100000 usd
us-gaap Depreciation
Depreciation
900000 usd
us-gaap Depreciation
Depreciation
800000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2910000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2882000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
13871000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
700000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
700000 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
200000 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
100000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
69900000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
69400000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
69436000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
69436000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
505000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
69941000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
102200000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
102200000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
41473000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36964000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
60727000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
65236000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1841000 usd
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
5149000 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3095000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
694000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
548000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1117000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1556000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1203000 usd
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
25297000 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
9569000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4735000 usd
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5337000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
276655000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
247053000 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
2000000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2000000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
274655000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
245053000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4402000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4558000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7042000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-976000 usd
CY2022Q2 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2021Q2 us-gaap Dilutive Securities
DilutiveSecurities
4596000 usd
us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2021Q1 shls Number Of Classes Of Directors
NumberOfClassesOfDirectors
3 class
us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4402000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9154000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7042000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-976000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112489000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93544000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112350000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93542000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112616000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
166827000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112428000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93542000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4100000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4200000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
38800000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
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
4910000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-879000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Organizational Transaction
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesOrganizationalTransaction
0 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
0 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
2973000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Stock Compensation Plan Activity
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesStockCompensationPlanActivity
1407000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Tax Distributions To Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesTaxDistributionsToNonControllingInterest
4566000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Tax Distributions To Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesTaxDistributionsToNonControllingInterest
2973000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Reallocation Of Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesReallocationOfNonControllingInterest
20000 usd
shls Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Reallocation Of Non Controlling Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesReallocationOfNonControllingInterest
288000 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
3337000 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
-19825000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4600000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4655000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1117000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3846000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4963000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1264000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
960000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
952000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
296000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
576000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
33000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
64000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
33000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
176000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
362000 usd
us-gaap Lease Cost
LeaseCost
816000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
652000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1339000 usd
CY2022Q2 shls Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
246000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5413000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
450000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4963000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
489000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
499000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
200000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
58000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
6000 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1252000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
4.5
us-gaap Operating Lease Payments
OperatingLeasePayments
320000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1239000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3990000 usd
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.202
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.825
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000 usd
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
shls Liability On Tax Receivable Agreement Share Exchanges
LiabilityOnTaxReceivableAgreementShareExchanges
800000 usd
shls Liability On Tax Receivable Agreement Share Exchanges
LiabilityOnTaxReceivableAgreementShareExchanges
28202000 usd
shls Liability On Tax Receivable Agreement Merger
LiabilityOnTaxReceivableAgreementMerger
0 usd
shls Liability On Tax Receivable Agreement Merger
LiabilityOnTaxReceivableAgreementMerger
13490000 usd
shls Liability On Tax Receivable Agreement Adjustment For Change In Estimated Effective Income Tax Rate
LiabilityOnTaxReceivableAgreementAdjustmentForChangeInEstimatedEffectiveIncomeTaxRate
0 usd
shls Liability On Tax Receivable Agreement Adjustment For Change In Estimated Effective Income Tax Rate
LiabilityOnTaxReceivableAgreementAdjustmentForChangeInEstimatedEffectiveIncomeTaxRate
1664000 usd
shls Liability On Tax Receivable Agreement Payments
LiabilityOnTaxReceivableAgreementPayments
0 usd
shls Liability On Tax Receivable Agreement Payments
LiabilityOnTaxReceivableAgreementPayments
0 usd
CY2022Q2 shls Liability On Tax Receivable Agreement
LiabilityOnTaxReceivableAgreement
157174000 usd
CY2021Q2 shls Liability On Tax Receivable Agreement
LiabilityOnTaxReceivableAgreement
43356000 usd
CY2022Q2 shls Liability On Tax Receivable Agreement Current
LiabilityOnTaxReceivableAgreementCurrent
3583000 usd
CY2021Q2 shls Liability On Tax Receivable Agreement Current
LiabilityOnTaxReceivableAgreementCurrent
0 usd
CY2022Q2 shls Liability On Tax Receivable Agreement Noncurrent
LiabilityOnTaxReceivableAgreementNoncurrent
153591000 usd
CY2021Q2 shls Liability On Tax Receivable Agreement Noncurrent
LiabilityOnTaxReceivableAgreementNoncurrent
43356000 usd
CY2022Q2 shls Deferred Income Tax Assets Tax Receivable Agreement
DeferredIncomeTaxAssetsTaxReceivableAgreement
184900000 usd
CY2022Q2 shls Tax Receivable Agreement Proportion Of Tax Benefits To Be Paid To Tra Owners
TaxReceivableAgreementProportionOfTaxBenefitsToBePaidToTRAOwners
0.85
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73490000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
59722000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
141466000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
105326000 usd

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