Record Revenue Growth
Shoals Technologies Group delivered record revenue of $135.8 million in Q3 2025, representing a 32.9% year-over-year increase and a 22.5% sequential increase from Q2 2025.
Strong Backlog and Order Growth
The company achieved a record backlog and awarded orders (BLAO) of $720.9 million, which is a 21% increase year-over-year. The book-to-bill ratio for the quarter was 1.4, indicating strong demand.
Expansion in International Markets
Shoals recognized over $6 million of revenue in Q3 from projects in Latin America and Australia, with expectations to complete these projects in Q4 2025. The international pipeline exceeds 20 gigawatts.
Progress in Strategic Growth Initiatives
The company reported strong performance in its core utility scale solar market, CC&I business, and OEM business, with notable progress in its BESS offering, including signing 2 Master Service Agreements in the emerging BESS markets.