Shoals Reports 39% Q4 Revenue Surge to $148.3M, Backlog Hits $747.6M
Shoals Technologies delivered Q4 revenue of $148.3 million, up 39% year-over-year, with operating profit of $17.4 million and record backlog of $747.6 million. The company clarified there were no material changes in customer orders or suspension of quarterly guidance and reaffirmed its 2026 outlook.
1. Correction Details
The initial press release included erroneous statements regarding shifts in customer order patterns and a suspension of quarterly guidance. Shoals Technologies clarified that order patterns remain materially unchanged and that it will continue providing quarterly guidance consistent with its established practice.
2. Fourth Quarter Financial Results
For the quarter ended December 31, 2025, Shoals generated revenue of $148.3 million, a 39% increase from the prior year, with operating profit of $17.4 million, net income of $8.1 million and adjusted EBITDA of $30.3 million. Gross profit was $46.9 million, with margins impacted by higher material costs and $3.3 million in duties and tariffs.
3. Record Backlog and 2026 Outlook
Backlog and awarded orders reached a record $747.6 million, including $67 million in battery energy storage system awards, reflecting strong market demand. Shoals reaffirmed its first-quarter and full-year 2026 outlook, citing strategic investments, portfolio expansion and diversification as key growth drivers.