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Ratios

Shoals Technologies (SHLS) Cost Of Revenue (2020 - 2026)

Shoals Technologies posted quarterly Cost of Revenue of $99.5 million for Q1 2026, up 90.63% year-on-year from $52.2 million in Q1 2025, and down 1.84% on a QoQ basis from $101.4 million in Q4 2025.

Shoals Technologies (SHLS) has 7 years of Cost of Revenue data on file, last reported at $99.5 million in Q1 2026.

  • For the quarter ending Q1 2026, Cost of Revenue rose 90.63% year-over-year to $99.5 million; the trailing twelve-month figure through Mar 2026 stood at $356.1 million (up 39.63% YoY), and the FY2025 full-year result was $308.8 million, up 20.08% from the prior year.
  • Cost of Revenue for Q1 2026 stood at $99.5 million, down from $101.4 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $120.1 million in Q3 2023 and bottomed at $41.7 million in Q1 2022.
  • The 5-year median for Cost of Revenue is $66.8 million (2024), against an average of $69.5 million.
  • The widest annual swing landed in 2023, when Cost of Revenue jumped 119.18%; it then sank 36.04% in 2024.
  • A 5-year view of Cost of Revenue shows it stood at $54.3 million in 2022, then soared by 38.3% to $75.1 million in 2023, then dropped by 11.0% to $66.8 million in 2024, then surged by 51.81% to $101.4 million in 2025, then retreated by 1.84% to $99.5 million in 2026.
  • The last three Cost of Revenue figures came in at $99.5 million (Q1 2026), $101.4 million (Q4 2025), and $85.6 million (Q3 2025), per Business Quant data.