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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue $ 119,208 $ 73,490 $ 224,294 $ 141,466
Cost of revenue 68,691 44,897 125,520 86,581
Gross profit 50,517 28,593 98,774 54,885
Operating expenses        
General and administrative expenses 16,723 13,265 36,715 27,184
Depreciation and amortization 2,158 2,344 4,323 4,710
Total operating expenses 18,881 15,609 41,038 31,894
Income from operations 31,636 12,984 57,736 22,991
Interest expense, net (6,505) (4,170) (12,501) (8,006)
Income before income taxes 25,131 8,814 45,235 14,985
Income tax expense (6,207) (1,511) (9,328) (3,033)
Net income 18,924 7,303 35,907 11,952
Less: net income attributable to non-controlling interests 0 2,901 2,687 4,910
Net income attributable to Shoals Technologies Group, Inc. $ 18,924 $ 4,402 $ 33,220 $ 7,042
Earnings per share of Class A common stock:        
Basic (in dollars per share) $ 0.11 $ 0.04 $ 0.21 $ 0.06
Diluted (in dollars per share) $ 0.11 $ 0.04 $ 0.21 $ 0.06
Weighted average shares of Class A common stock outstanding:        
Basic (in shares) 169,887 112,489 158,213 112,350
Diluted (in shares) 170,241 112,616 158,694 112,428
Class A Common Stock        
Earnings per share of Class A common stock:        
Basic (in dollars per share) $ 0.11 $ 0.04 $ 0.21 $ 0.06
Diluted (in dollars per share) $ 0.11 $ 0.04 $ 0.21 $ 0.06
Weighted average shares of Class A common stock outstanding:        
Basic (in shares) 169,887 112,489 158,213 112,350
Diluted (in shares) 170,241 112,616 158,694 112,428