7Baggers

Shoals Technologies Group, Inc
(NASDAQ:SHLS) 

SHLS stock logo

Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It offers EBOS components, such as cable assemblies, inline fuses, combiners, recombiners, disconnects, wireless monitoring systems, junction boxes, transition enclo...

Founded: 1996
Sector: Technology
Industry: Solar
TechnologySolarSemiconductors
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 
                          
      revenue
    		140,557,000 148,325,000 135,804,000 110,841,000 80,361,000 106,987,000 102,165,000 99,249,000 90,807,000 130,436,000 134,209,000 119,208,000 105,086,000 94,651,000 90,823,000 73,490,000 67,976,000 48,046,000 59,840,000 59,722,000 45,604,000  
      yoy
    		74.91% 38.64% 32.93% 11.68% -11.50% -17.98% -23.88% -16.74% -13.59% 37.81% 47.77% 62.21% 54.59% 97.00% 51.78% 23.05% 49.06%      
      qoq
    		-5.24% 9.22% 22.52% 37.93% -24.89% 4.72% 2.94% 9.30% -30.38% -2.81% 12.58% 13.44% 11.02% 4.21% 23.59% 8.11% 41.48% -19.71% 0.20% 30.96%   
      cost of revenue
    		99,547,000 101,411,000 85,552,000 69,639,000 52,221,000 66,803,000 76,789,000 59,252,000 54,347,000 75,056,000 120,059,000 68,691,000 56,829,000 54,272,000 54,776,000 44,897,000 41,684,000 32,123,000 38,071,000 33,543,000 26,830,000  
      gross profit
    		41,010,000 46,914,000 50,252,000 41,202,000 28,140,000 40,184,000 25,376,000 39,997,000 36,460,000 55,380,000 14,150,000 50,517,000 48,257,000 40,379,000 36,047,000 28,593,000 26,292,000 15,923,000 21,769,000 26,179,000 18,774,000  
      yoy
    		45.74% 16.75% 98.03% 3.01% -22.82% -27.44% 79.34% -20.82% -24.45% 37.15% -60.75% 76.68% 83.54% 153.59% 65.59% 9.22% 40.04%      
      qoq
    		-12.58% -6.64% 21.96% 46.42% -29.97% 58.35% -36.56% 9.70% -34.16% 291.38% -71.99% 4.68% 19.51% 12.02% 26.07% 8.75% 65.12% -26.85% -16.85% 39.44%   
      gross margin %
    		29.18% 31.63% 37.00% 37.17% 35.02% 37.56% 24.84% 40.30% 40.15% 42.46% 10.54% 42.38% 45.92% 42.66% 39.69% 38.91% 38.68% 33.14% 36.38% 43.83% 41.17%  
      operating expenses
    		                      
      general and administrative expenses
    		31,014,000 27,344,000 29,423,000 23,064,000 21,693,000 21,521,000 18,743,000 19,218,000 22,772,000 21,453,000 22,551,000 16,723,000 19,992,000 14,871,000 13,853,000 13,265,000 13,919,000 11,028,000 10,031,000 10,018,000 6,816,000  
      depreciation and amortization
    		2,278,000 2,166,000 2,158,000 2,140,000 2,135,000 2,180,000 2,109,000 2,198,000 2,104,000 2,057,000 2,170,000 2,158,000 2,165,000 2,134,000 2,229,000 2,344,000 2,366,000 2,215,000 2,175,000 2,062,000 2,068,000  
      total operating expenses
    		33,292,000 29,510,000 31,581,000 25,204,000 23,828,000 23,701,000 20,852,000 21,416,000 24,876,000 23,510,000 24,721,000 18,881,000 22,157,000 17,005,000 16,082,000 15,609,000 16,285,000 13,243,000 12,206,000 12,080,000 8,884,000  
      income from operations
    		7,718,000 17,404,000 18,671,000 15,998,000 4,312,000 16,483,000 4,524,000 18,581,000 11,584,000 31,870,000 -10,571,000 31,636,000 26,100,000 23,374,000 19,965,000 12,984,000 10,007,000 2,680,000 9,563,000 14,099,000 9,890,000  
      yoy
    		78.99% 5.59% 312.71% -13.90% -62.78% -48.28% -142.80% -41.27% -55.62% 36.35% -152.95% 143.65% 160.82% 772.16% 108.77% -7.91% 1.18%      
      qoq
    		-55.65% -6.79% 16.71% 271.01% -73.84% 264.35% -75.65% 60.40% -63.65% -401.49% -133.41% 21.21% 11.66% 17.07% 53.77% 29.75% 273.40% -71.98% -32.17% 42.56%   
      operating margin %
    		5.49% 11.73% 13.75% 14.43% 5.37% 15.41% 4.43% 18.72% 12.76% 24.43% -7.88% 26.54% 24.84% 24.69% 21.98% 17.67% 14.72% 5.58% 15.98% 23.61% 21.69%  
      interest expense
    		-2,903,000 -2,511,000 -2,832,000 -2,236,000 -2,415,000 -3,314,000 -3,088,000 -3,063,000 -4,362,000 -5,700,000 -5,899,000 -6,505,000 -5,996,000 -5,778,000 -4,754,000 -4,170,000 -3,836,000 -3,638,000 -3,582,000 -3,620,000 -3,709,000  
      interest income
    		59,000 73,000 38,000 76,000 118,000                  
      litigation settlement expense, net of recoveries
    		-5,250,000                      
      gain on sale of assets
    		-2,000 -1,292,000 -7,000                    
      foreign currency gain
    		-8,000                      
      income before income taxes
    		-386,000 13,661,000 15,870,000 16,972,000 2,015,000 13,687,000 1,436,000 15,518,000 7,222,000 26,170,000 -16,470,000 25,131,000 20,104,000 121,804,000 15,211,000 8,814,000 6,171,000 1,057,000 3,967,000 8,815,000 -9,809,000  
      income tax benefit
    		89,000     -1,966,750 -1,703,000   -671,500 6,642,000   -1,371,250 -2,452,000 -1,511,000 -1,522,000 780,750 1,309,000 339,000 1,475,000  
      net income
    		-297,000 8,122,000 11,879,000 13,855,000 -282,000 7,818,000 -267,000 11,802,000 4,774,000 16,582,000 -9,828,000 18,924,000 16,983,000 118,302,000 12,759,000 7,303,000 4,649,000 -2,152,000 5,276,000 9,154,000 -8,334,000  
      yoy
    		5.32% 3.89% -4549.06% 17.40% -105.91% -52.85% -97.28% -37.63% -71.89% -85.98% -177.03% 159.13% 265.30% -5597.30% 141.83% -20.22% -155.78%      
      qoq
    		-103.66% -31.63% -14.26% -5013.12% -103.61% -3028.09% -102.26% 147.21% -71.21% -268.72% -151.93% 11.43% -85.64% 827.20% 74.71% 57.09% -316.03% -140.79% -42.36% -209.84%   
      net income margin %
    		-0.21% 5.48% 8.75% 12.50% -0.35% 7.31% -0.26% 11.89% 5.26% 12.71% -7.32% 15.87% 16.16% 124.99% 14.05% 9.94% 6.84% -4.48% 8.82% 15.33% -18.27%  
      loss per share of class a common stock:
    		                      
      basic
    		                      
      diluted
    		                      
      weighted-average shares of class a common stock outstanding:
    		                      
      basic
    		167,555 167,257 167,369 167,286 166,960 168,570 167,318 169,991 170,282 164,165 169,965 169,887 146,409 114,495 112,975 112,489 112,211 99,269 101,890 93,544 93,540  
      diluted
    		167,555 168,378 168,750 167,562 166,960 168,725 167,381 170,100 170,514 164,504 169,965 170,241 147,107 167,631 113,584 112,616 112,240 99,269 102,251 166,827 93,540  
      income tax expense
    		 -5,539,000 -3,991,000 -3,117,000 -2,297,000   -3,716,000 -2,448,000   -6,207,000 -3,121,000          
      earnings per share of class a common stock:
    		                      
      basic
    		 0.05 0.07 0.08  0.04  0.07 0.03 0.1 -0.06 0.11 0.1 0.98 0.07 0.04 0.02 0.005 0.02 0.05 -0.06  
      diluted
    		 0.05 0.07 0.08  0.04  0.07 0.03 0.1 -0.06 0.11 0.1 0.72 0.07 0.04 0.02 0.005 0.02 0.05 -0.06  
      gain on sale of asset
    		   3,134,000                   
      less: net income attributable to non-controlling interests
    		            2,687,000 5,691,000 4,801,000 2,901,000 2,009,000 -315,000 2,790,000 4,596,000   
      net income attributable to shoals technologies group, inc.
    		     7,818,000 -267,000 11,802,000 4,774,000 16,582,000 -9,828,000 18,924,000 14,296,000 112,611,000 7,958,000 4,402,000 2,640,000 -1,837,000 2,486,000 4,558,000 -2,859,000  
      payable pursuant to the tax receivable agreement adjustment
    		                      
      loss on debt repayment
    		                    -15,990,000  
      tax receivable agreement liability adjustment
    		                 -919,500 -2,014,000 -1,664,000   
      less: net loss attributable to non-controlling interests
    		                    -5,475,000  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 
                            
        assets
      		                      
        current assets
      		                      
        cash and cash equivalents
      		1,877,000 7,320,000 8,589,000 4,686,000 35,609,000 23,511,000 11,106,000 3,189,000 15,236,000 22,707,000 9,224,000 5,860,000 6,460,000 8,766,000 11,202,000 10,094,000 2,534,000 5,006,000 14,189,000 13,171,000 4,227,000 10,073,000 
        accounts receivable
      		129,205,000 128,793,000 117,464,000 103,432,000 67,704,000 78,181,000 95,301,000 92,261,000 103,403,000 107,118,000 108,886,000 97,099,000 75,415,000 50,575,000 71,652,000 57,827,000 56,887,000 31,499,000 44,588,000 42,977,000 28,138,000 27,004,000 
        unbilled receivables
      		15,144,000 22,133,000 7,705,000 9,861,000 10,409,000 20,834,000 13,792,000 17,015,000 23,406,000 40,136,000 28,506,000 21,664,000 19,661,000 16,713,000 11,561,000 14,580,000 16,149,000 13,533,000 10,554,000 6,797,000 9,995,000 3,794,000 
        inventory
      		158,993,000 89,878,000 60,350,000 56,899,000 61,173,000 55,977,000 65,854,000 60,006,000 59,565,000 52,804,000 60,961,000 68,312,000 73,729,000 72,854,000 81,158,000 64,961,000 49,479,000 38,368,000 27,832,000 21,272,000 21,092,000 15,121,000 
        insurance receivable
      		64,750,000                      
        other current assets
      		12,572,000 9,762,000 7,085,000 15,195,000 12,851,000 9,849,000 4,716,000 4,784,000 6,872,000 4,421,000 6,664,000 7,180,000 8,094,000 4,632,000 7,608,000 8,827,000 12,651,000 5,042,000 11,706,000 7,292,000 6,512,000 155,000 
        total current assets
      		382,541,000 257,886,000 201,193,000 190,073,000 187,746,000 188,352,000 190,769,000 177,255,000 208,482,000 227,186,000 214,241,000 200,115,000 183,359,000 153,540,000 183,181,000 156,289,000 137,700,000 93,448,000 108,869,000 91,509,000 69,964,000 56,147,000 
        property, plant and equipment
      		59,072,000 53,302,000 49,187,000 41,978,000 30,040,000 28,222,000 28,055,000 26,932,000 26,213,000 24,836,000 22,789,000 20,198,000 18,388,000 16,870,000 16,596,000 16,830,000 16,032,000 15,574,000 14,358,000 13,622,000 13,160,000 12,763,000 
        goodwill
      		69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,941,000 69,436,000 69,436,000 69,321,000 50,176,000 50,176,000 50,176,000 
        other intangible assets
      		31,603,000 33,499,000 35,395,000 37,291,000 39,187,000 41,083,000 42,979,000 44,876,000 46,772,000 48,668,000 50,564,000 52,542,000 54,563,000 56,585,000 58,606,000 60,727,000 62,966,000 65,236,000 67,508,000 67,996,000 69,992,000 71,988,000 
        deferred tax assets
      		438,116,000 438,027,000 443,586,000 447,568,000 451,872,000 454,160,000 460,011,000 461,676,000 465,700,000 468,195,000 477,073,000 470,329,000 476,283,000 291,634,000 177,112,000 175,059,000 175,539,000 176,958,000     
        right-of-use operating lease assets
      		45,000,000 46,044,000 47,079,000                    
        other assets
      		4,622,000 5,402,000 5,410,000 8,113,000 9,635,000 11,322,000 9,546,000 7,757,000 8,198,000 5,167,000 5,540,000 5,695,000 6,067,000 6,325,000 24,456,000 17,771,000 12,799,000 5,762,000 1,204,000 840,000 475,000 4,236,000 
        total assets
      		1,030,895,000 904,101,000 851,791,000 794,964,000 788,421,000 793,080,000 801,301,000 788,437,000 825,306,000 843,993,000 840,148,000 818,820,000 808,601,000 594,895,000 529,892,000 496,617,000 474,472,000 426,414,000 382,805,000 273,716,000 252,259,000 195,310,000 
        liabilities and stockholders’ equity
      		                      
        current liabilities
      		                      
        accounts payable
      		80,425,000 64,875,000 33,941,000 29,241,000 26,714,000 20,032,000 23,743,000 16,187,000 15,728,000 14,396,000 16,615,000 16,239,000 21,936,000 9,481,000 21,383,000 24,258,000 17,879,000 19,985,000 18,664,000 14,224,000 12,941,000 14,634,000 
        accrued expenses and other
      		26,305,000 22,215,000 27,281,000 16,928,000 12,418,000 12,541,000 12,865,000 9,683,000 10,352,000 22,907,000 21,516,000 27,650,000 17,382,000 17,882,000 43,407,000 25,297,000       
        litigation settlement liability
      		70,000,000                      
        warranty liability—current portion
      		1,232,000 3,202,000 4,556,000 15,102,000 25,956,000 29,602,000 34,743,000 31,148,000 31,708,000 31,099,000 17,254,000            
        deferred revenue
      		30,343,000 37,031,000 26,099,000 20,075,000 15,195,000 18,737,000 20,562,000 21,244,000 21,834,000 22,228,000 27,025,000 31,298,000 23,450,000 23,259,000         
        total current liabilities
      		208,305,000 127,323,000 91,877,000 81,346,000 80,283,000 80,912,000 91,913,000 78,262,000 79,622,000 92,630,000 84,410,000 77,187,000 64,768,000 52,622,000 70,373,000 55,138,000 38,708,000 31,554,000 35,776,000 27,223,000 24,975,000 24,101,000 
        revolving line of credit
      		181,750,000 136,750,000 126,750,000 131,750,000 141,750,000 141,750,000 141,750,000 146,750,000 168,750,000 40,000,000  20,000,000 45,000,000 48,000,000 85,640,000 85,140,000 90,140,000 55,140,000 60,140,000 49,000,000 39,000,000 20,000,000 
        right-of-use operating lease liabilities
      		37,800,000  39,492,000                    
        warranty liability, less current portion
      		403,000 403,000 3,041,000 4,685,000 5,457,000 11,392,000 20,000,000 16,182,000 20,091,000 23,815,000 39,360,000            
        other long-term liabilities
      		991,000 991,000 991,000 1,776,000 2,003,000 2,226,000 2,442,000 2,657,000 2,866,000 3,107,000 3,358,000 3,619,000 3,917,000 4,221,000 4,500,000 4,793,000 5,074,000 931,000     
        total liabilities
      		429,249,000 304,128,000 262,151,000 219,557,000 229,493,000 236,280,000 256,105,000 243,851,000 271,329,000 298,997,000 315,508,000 289,415,000 302,521,000 293,906,000 507,222,000 488,177,000 475,920,000 433,912,000 393,932,000 308,438,000 295,117,000 379,433,000 
        commitments and contingencies
      		                      
        stockholders’ equity
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2026 and december 31, 2025
      		                      
        class a common stock
      		2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000  
        additional paid-in capital
      		495,060,000 493,090,000 490,879,000 488,525,000 485,960,000 483,550,000 479,764,000 468,787,000 474,749,000 470,542,000 466,768,000 461,705,000 457,304,000 256,894,000 104,539,000 101,243,000 98,376,000 95,684,000 92,149,000 78,883,000 78,073,000  
        treasury stock
      		-25,272,000 -25,272,000 -25,272,000 -25,272,000 -25,331,000 -25,331,000 -25,331,000 -15,231,000               
        retained earnings
      		131,856,000 132,153,000 124,031,000 112,152,000 98,297,000 98,579,000 90,761,000 91,028,000 79,226,000              
        total stockholders' equity
      		601,646,000 599,973,000 589,640,000 575,407,000 558,928,000 556,800,000 545,196,000 544,586,000 553,977,000 544,996,000 524,640,000 529,405,000 506,080,000  22,670,000 8,440,000       
        total liabilities and stockholders’ equity
      		1,030,895,000 904,101,000 851,791,000 794,964,000 788,421,000 793,080,000 801,301,000 788,437,000 825,306,000 843,993,000 840,148,000 818,820,000 808,601,000 594,895,000 529,892,000 496,617,000       
        right-of-use operating lease liabilities, less current portion
      		 38,661,000                     
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of december 31, 2025 and 2024
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of september 30, 2025 and december 31, 2024
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of june 30, 2025 and december 31, 2024
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2025 and december 31, 2024
      		                      
        long-term debt—current portion
      		         2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 3,500,000 3,500,000 3,500,000 
        long-term debt, less current portion
      		         139,445,000 188,380,000 188,609,000 188,836,000 189,063,000 189,289,000 189,515,000 189,689,000 189,913,000 190,136,000 188,859,000 189,450,000 335,332,000 
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of december 31, 2024 and 2023
      		                      
        class b common stock
      		             1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of september 30, 2024 and december 31, 2023
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of june 30, 2024 and december 31, 2023
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2024 and december 31, 2023
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of december 31, 2023 and 2022
      		                      
        accumulated earnings
      		         74,452,000 57,870,000 67,698,000 48,774,000 34,478,000         
        total stockholders’ equity attributable to shoals technologies group, inc.
      		         544,996,000 524,640,000 529,405,000 506,080,000 291,374,000 26,408,000 15,154,000 7,885,000      
        non-controlling interests
      		             9,615,000 -3,738,000 -6,714,000 -9,333,000 -10,051,000 -11,982,000 -19,825,000 -22,593,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of september 30, 2023 and december 31, 2022
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of june 30, 2023 and december 31, 2022
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2023 and december 31, 2022
      		                      
        payable pursuant to the tax receivable agreement
      		                 156,374,000 107,880,000 43,356,000 41,692,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of december 31, 2022 and 2021
      		                      
        total stockholders’ equity
      		             300,989,000         
        liabilities and stockholders' equity
      		                      
        current portion of payable pursuant to the tax receivable agreement
      		              3,583,000 3,583,000 4,065,000      
        payable pursuant to the tax receivable agreement, less current portion
      		              157,420,000 153,591,000 152,309,000      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of september 30, 2022 and december 31, 2021
      		                      
        accumulated deficit
      		              -78,133,000 -86,091,000 -90,493,000 -93,133,000 -91,296,000 -93,782,000 -98,340,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of june 30, 2022 and december 31, 2021
      		                      
        liabilities and stockholders' deficit
      		                      
        accrued expenses
      		                14,764,000 9,569,000 15,112,000 9,499,000 8,534,000 5,967,000 
        stockholders’ deficit
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2022 and december 31, 2021
      		                      
        total stockholders' deficit
      		                -1,448,000      
        total liabilities and stockholders’ deficit
      		                474,472,000      
        liabilities and stockholders' deficit / members’ deficit
      		                      
        stockholders’ deficit / members’ deficit
      		                      
        members’ deficit
      		                      
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of december 31, 2021
      		                      
        total stockholders’ equity attributable to shoals technologies group, inc. / members' equity
      		                 2,553,000     
        total stockholders’ deficit / members’ deficit
      		                 -7,498,000 -11,127,000 -34,722,000 -42,858,000  
        total liabilities and stockholders’ deficit / members’ deficit
      		                 426,414,000 382,805,000 273,716,000 252,259,000  
        deferred tax asset
      		                  121,545,000 49,573,000 48,492,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of september 30, 2021
      		                      
        total stockholders’ equity attributable to shoals technologies group, inc. / members' deficit
      		                  855,000    
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of june 30, 2021
      		                      
        total stockholders’ deficit attributable to shoals technologies group, inc. / members' deficit
      		                   -14,897,000 -20,265,000  
        preferred stock, 0.00001 par value - 5,000,000 shares authorized; none issued and outstanding as of march 31, 2021
      		                      
        liabilities and members’ equity
      		                      
        members’ equity
      		                     -184,123,000 
        total liabilities and members’ equity
      		                     195,310,000 
        revenue
      		                     175,518,000 
        cost of revenue
      		                     108,972,000 
        gross profit
      		                     66,546,000 
        operating expenses
      		                      
        general and administrative expenses
      		                     21,008,000 
        depreciation and amortization
      		                     8,262,000 
        total operating expenses
      		                     29,270,000 
        income from operations
      		                     37,276,000 
        interest expense
      		                     -3,510,000 
        net income
      		                     33,766,000 
        earnings per unit
      		                      
        basic and diluted
      		                     210 
        weighted-average number of units
      		                      
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 
                             
          cash flows from operating activities
        		                     
          net loss
        		-297,000                     
          adjustments to reconcile net loss to net cash from operating activities:
        		                     
          depreciation and amortization
        		4,101,000 3,833,000 3,362,000 3,335,000 3,287,000 3,294,000 3,151,000 3,179,000 3,002,000 2,785,000 2,652,000 2,585,000 2,507,000 2,508,000 2,599,000 2,708,000 2,694,000 2,708,000 2,537,000 2,407,000 2,401,000 
          amortization/write off of deferred financing costs
        		156,000 155,000 156,000 155,000 156,000 156,000 156,000 155,000 2,626,000 1,133,000 340,000 342,000 350,000 342,000 339,000 408,000 276,000 277,000 277,000 305,000 5,110,000 
          equity-based compensation
        		3,317,000 2,228,000 2,419,000 2,594,000 2,661,000 3,838,000 1,282,000 4,087,000 5,023,000 3,802,000 5,092,000 4,445,000 7,523,000 4,221,000 3,991,000 4,065,000 3,831,000 4,882,000 2,232,000 2,780,000 1,392,000 
          provision for obsolete or slow-moving inventory
        		518,000 116,000 473,000 365,000 252,000 1,165,000 1,039,000   1,402,000 499,000 818,000 2,322,000 1,630,000 0       
          provision for warranty expense
        		527,000 266,000 0 -1,000 257,000 0 13,809,000 829,000 565,000 -167,000 50,337,000           
          deferred taxes
        		-89,000 5,558,000 3,982,000 4,304,000 2,288,000 5,851,000 1,665,000 4,024,000 2,495,000 8,878,000 -6,497,000 5,954,000 2,999,000 3,107,000 2,452,000 1,428,000 1,419,000 -2,116,000 1,164,000 -1,081,000 557,000 
          other
        		1,765,000         0 890,000 -603,000 -556,000 0        
          changes in assets and liabilities:
        		                     
          accounts receivable
        		-412,000 -11,329,000 -14,032,000 -35,728,000 10,477,000 17,120,000 -3,040,000 11,142,000 3,715,000 1,768,000 -11,787,000 -21,672,000 -25,148,000 20,877,000 -13,825,000 -871,000 -25,388,000 13,089,000 3,702,000 -14,839,000 -1,134,000 
          unbilled receivables
        		6,989,000 -14,428,000 2,156,000 548,000 10,425,000 -7,042,000 3,223,000 6,391,000 16,730,000 -11,630,000 -6,842,000 -2,003,000 -2,948,000 -5,152,000 3,019,000 1,569,000 -2,616,000 -2,979,000 -3,757,000 3,198,000 -6,201,000 
          inventory
        		-69,633,000 -29,644,000 -3,924,000 3,909,000 -5,448,000 8,712,000 -6,887,000 -907,000 -6,761,000 6,755,000 6,852,000 4,599,000 -3,197,000 6,674,000 -16,197,000 -16,293,000 -11,111,000 -8,683,000 -2,354,000 -180,000 -5,971,000 
          other assets
        		-2,186,000 -643,000 4,914,000 -978,000 -1,471,000 -7,099,000 -1,877,000 2,374,000 -3,165,000 2,547,000 872,000 1,217,000 -3,281,000 625,000 1,678,000 1,362,000 -3,421,000 7,245,000 -2,273,000   
          accounts payable
        		15,221,000 30,754,000 6,467,000 -583,000 6,682,000 -3,711,000 7,556,000 459,000 1,332,000 -2,219,000 376,000 -5,507,000 12,521,000 -12,215,000 -2,874,000 6,166,000 -2,106,000 1,321,000 -4,788,000 1,283,000 -1,693,000 
          accrued expenses and other
        		2,510,000 -6,871,000 7,724,000 4,284,000 -347,000 -540,000 2,967,000 -272,000 -13,402,000 1,141,000 3,550,000 997,000 -1,217,000 -23,888,000 17,816,000       
          warranty liability
        		-2,497,000 -7,312,000 -12,190,000 -11,626,000 -9,837,000 -13,749,000 -6,396,000 -5,298,000 -3,680,000 -1,533,000            
          litigation receivable and settlement liabilities
        		5,250,000                     
          deferred revenue
        		-6,688,000 10,932,000 6,024,000 4,880,000 -3,542,000 -1,825,000 -682,000 -590,000 -394,000 -4,797,000 -4,273,000 7,848,000 191,000         
          net cash from operating activities
        		-41,448,000 -4,087,000 19,417,000 -13,821,000 15,558,000 13,988,000 15,699,000 37,841,000 12,860,000 26,447,000 27,674,000 27,921,000 9,913,000 34,441,000 11,757,000 19,116,000 -25,859,000 2,596,000 7,435,000 3,665,000 -17,779,000 
          capital expenditures
        		-7,648,000 -7,164,000 -10,449,000 -12,221,000 -3,209,000 -1,531,000 -2,377,000 -2,002,000 -2,483,000 -2,936,000 -3,265,000 -2,374,000 -2,003,000 -761,000 -244,000 -1,267,000 -882,000 -1,643,000 -747,000 -873,000 -863,000 
          free cash flows
        		-49,096,000 -11,251,000 8,968,000 -26,042,000 12,349,000 12,457,000 13,322,000 35,839,000 10,377,000 23,511,000 24,409,000 25,547,000 7,910,000 33,680,000 11,513,000 17,849,000 -26,741,000 953,000 6,688,000 2,792,000 -18,642,000 
          cash flows from investing activities
        		                     
          purchases of property, plant and equipment
        		-7,648,000 -7,164,000 -10,449,000 -12,221,000 -3,209,000 -1,531,000 -2,377,000 -2,002,000 -2,483,000 -2,936,000 -3,265,000 -2,374,000 -2,003,000 -761,000 -244,000 -1,267,000 -882,000 -1,643,000 -747,000 -873,000 -863,000 
          net cash from investing activities
        		-7,648,000 -7,164,000 -10,449,000 -7,133,000 -3,209,000 -1,531,000 -2,377,000 -2,002,000 -2,483,000 -2,936,000 -3,534,000 -2,374,000 -2,003,000 -761,000 -747,000 -1,267,000 -882,000 -1,643,000 -13,656,000 -873,000 -863,000 
          cash flows from financing activities
        		                     
          employee withholding taxes related to net settled equity awards
        		-1,347,000 -18,000 -65,000 -28,000 -251,000 -52,000 -305,000 -49,000 -816,000 -28,000 -276,000 -44,000 -3,532,000 0 0 0 -1,297,000 0 0 0 -137,000 
          proceeds from revolving credit facility
        		45,000,000 10,000,000 20,000,000 10,000,000 20,000,000 0 0 5,000,000 143,750,000 40,000,000 0 0 5,000,000 0 8,000,000 3,000,000 35,000,000 9,000,000 6,140,000 15,000,000 19,000,000 
          repayments of revolving credit facility
        		 0 -25,000,000 -20,000,000 -20,000,000 0 -5,000,000 -27,000,000 -15,000,000 0 -20,000,000 -25,000,000 -8,000,000 -37,640,000 -7,500,000       
          net cash from financing activities
        		43,653,000 9,982,000 -5,065,000 -9,969,000 -251,000 -52,000 -5,405,000 -47,886,000 -17,848,000 -10,028,000 -20,776,000 -26,147,000 -10,216,000 -56,530,000 -3,196,000 -7,128,000 30,265,000 -5,585,000 7,239,000 6,152,000 12,796,000 
          net increase in cash and cash equivalents
        		-5,443,000    12,098,000              1,018,000 8,944,000 -5,846,000 
          cash and cash equivalents—beginning of period
        		7,320,000  0 0 23,511,000  0 0 22,707,000          0 0 10,073,000 
          cash and cash equivalents—end of period
        		1,877,000  3,903,000 -30,923,000 35,609,000  7,917,000 -12,047,000 15,236,000          1,018,000 8,944,000 4,227,000 
          net income
        		 8,122,000 11,879,000 13,855,000 -282,000 7,818,000 -267,000 11,802,000 4,774,000 16,582,000 -9,828,000 18,924,000 16,983,000 118,302,000 12,759,000 7,303,000 4,649,000 -2,152,000 5,276,000 9,154,000 -8,334,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                     
          provision for credit losses
        		         0 0 -12,000 308,000         
          proceeds from sale of property, plant and equipment
        		 0 0                   
          distributions to non-controlling interests
        		         0 0 0 -2,628,000         
          deferred financing costs
        		     0 0 -606,000 -2,032,000         0 0 0 -94,000 
          payments on term loan facility
        		     0 0 0 -143,750,000 -50,000,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000   
          repurchase of class a common stock
        		     0 -100,000               
          excise taxes on treasury stock transactions
        		 0 0                   
          deferred offering costs
        		                 -85,000 0 0 -9,619,000 
          net increase in cash, cash equivalents
        		                     
          cash, cash equivalents—beginning of period
        		                     
          cash, cash equivalents—end of period
        		                     
          gain on sale of asset
        		  7,000                   
          net decrease in cash and cash equivalents
        		  3,903,000     -12,047,000 -7,471,000             
          payable pursuant to the tax receivable agreement adjustment
        		                     
          gain on termination of tax receivable agreement
        		                     
          proceeds from issuance of class a common stock in follow-on offering, net of underwriting discounts and commissions
        		                 0    
          early termination payment of tax receivable agreement
        		                     
          payment of fees for tax receivable agreement termination
        		                     
          gain on sale of assets
        		                 -9,000 0 0 61,000 
          changes in assets and liabilities, net of business acquisition:
        		                     
          acquisition of a business, net of cash acquired
        		                 0    
          proceeds from issuance of class a common stock sold in an ipo, net of underwriting discounts and commissions
        		                  0 0 154,521,000 
          purchase of llc interests with proceeds from ipo
        		                     
          purchase of llc interests with proceeds from follow-on offering
        		                 0    
          payment of debt assumed in acquisition
        		                     
          net increase in cash, cash equivalents and restricted cash
        		         13,483,000 3,364,000 -600,000 -2,306,000 -22,850,000 7,814,000 10,721,000 3,524,000     
          cash, cash equivalents and restricted cash—beginning of period
        		         0 0 0 8,766,000 0 0 0 9,557,000     
          cash, cash equivalents and restricted cash—end of period
        		         13,483,000 3,364,000 -600,000 6,460,000 -22,850,000 7,814,000 10,721,000 13,081,000     
          proceeds from term loan facility
        		                     
          payments on senior debt - term loan
        		                     
          proceeds from delayed draw term loan facility
        		                     
          payments on delayed draw term loan facility
        		                     
          distributions to non-controlling interest
        		              -3,196,000 -1,628,000 -2,938,000     
          accrued expenses
        		                5,914,000 -7,119,000 2,970,000 140,000 -502,000 
          provision for slow-moving inventory
        		                 -1,853,000    
          payable pursuant to the tra adjustment
        		                     
          member / non-controlling interest distributions
        		                 0 -1,864,000   
          proceeds from issuance of class a common stock sold in an ipo
        		                     
          proceeds from senior debt - revolving line of credit
        		                     
          payments on senior debt - revolving line of credit
        		                     
          tax receivable agreement liability adjustment
        		                  2,014,000   
          payment of debt acquired in acquisition
        		                     
          other current assets
        		                    -3,465,000 
          member distributions
        		                     
          payment on term loan facility
        		                    -150,875,000 
          amortization of deferred finance costs
        		                     
          debt discount and financing costs
        		                     
          repayment of related party note payable
        		                     
          cash and cash equivalents—beginning of year
        		                     
          cash and cash equivalents—end of year
        		                     
          supplemental cash flows information:
        		                     
          cash paid for interest