Earnings per Share ("EPS")

12 Months Ended

Dec. 31, 2025

Basic EPS of Class A common stock is computed by dividing net income attributable to the Company by the weighted average number of shares of Class A common stock outstanding during the period. Diluted EPS of Class A common stock is computed similarly to basic EPS except the weighted average shares outstanding are increased to include additional shares from the exchange of Class B common stock under the if-converted method and the assumed exercise of any common stock equivalents using the treasury stock method, if dilutive. The Company’s restricted/performance stock units are considered common stock equivalents for this purpose.

Basic and diluted EPS of Class A common stock have been computed as follows (in thousands, except per share amounts):


	Year ended December 31,
	2025		2024		2023
Numerator:
Net income attributable to Shoals Technologies Group, Inc. - basic & diluted	$	33,574	$	24,127	$	39,974
Denominator:
Weighted average shares of Class A common stock outstanding - basic	167,257		168,570		164,165
Effect of dilutive securities:
Restricted / performance stock units	1,121		155		339
Weighted average shares of Class A common stock outstanding - diluted	168,378		168,725		164,504

Earnings per share of Class A common stock - basic	$	0.20	$	0.14	$	0.24
Earnings per share of Class A common stock - diluted	$	0.20	$	0.14	$	0.24

For the years ended December 31, 2025 and 2024 there were no shares of Class B common stock outstanding as all outstanding shares of Class B common stock (together with the relevant limited liability units) were exchanged for Class A common stock in the first quarter of 2023.