Shoals Technologies (SHLS) Accumulated Expenses (2019 - 2026)
Shoals Technologies' Accumulated Expenses came in at $44.14 million for Q3 2026, up 61.8% from $27.28 million a year earlier and up 25.2% from the prior quarter.
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Analysis
Shoals Technologies (SHLS) Accumulated Expenses (2019 - 2026) Analysis & Trends
At the end of FY2025, Shoals Technologies' Accumulated Expenses was $22.22 million, up 77.1% from FY2024.
- Accumulated Expenses carries a five-year compound annual growth rate of 30.1% (FY2020 to FY2025).
- Going back by year, Accumulated Expenses was $12.54 million in FY2024 (-45.3%), $22.91 million in FY2023 (+32.2%), $17.32 million in FY2022 (+124.1%) and $7.73 million in FY2021 (+29.5%).
- The Q3 2026 figure represents the highest quarterly Accumulated Expenses in data going back to Q4 2019.
- Year-over-year, Accumulated Expenses has increased for seven consecutive quarters, with growth averaging 65.1% over the last eight quarters.
- The fastest year-over-year change in Accumulated Expenses over five years came in Q3 2022 (growth of 187.2%), and the weakest in Q2 2024 (a decline of 65.0%).
- Business Quant data shows SHLS's Accumulated Expenses at $35.27 million (Q2 2026), $26.31 million (Q1 2026) and $22.22 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 44.14 Mn |
| Jun 30, 2026 | 35.27 Mn |
| Mar 31, 2026 | 26.31 Mn |
| Dec 31, 2025 | 22.22 Mn |
| Sep 30, 2025 | 27.28 Mn |
| Jun 30, 2025 | 16.93 Mn |
| Mar 31, 2025 | 12.42 Mn |
| Dec 31, 2024 | 12.54 Mn |
| Sep 30, 2024 | 12.87 Mn |
| Jun 30, 2024 | 9.68 Mn |
| Mar 31, 2024 | 10.35 Mn |
| Dec 31, 2023 | 22.91 Mn |
| Sep 30, 2023 | 21.52 Mn |
| Jun 30, 2023 | 27.65 Mn |
| Mar 31, 2023 | 17.38 Mn |
| Dec 31, 2022 | 17.32 Mn |
| Sep 30, 2022 | 43.41 Mn |
| Jun 30, 2022 | 25.30 Mn |
| Mar 31, 2022 | 14.76 Mn |
| Dec 31, 2021 | 7.73 Mn |
API Access
Shoals Technologies Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "SHLS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();