SHLS - Earnings call transcript Q2 2022 | Shoals Technologies Group, Inc.

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Operator

Thank you for standing by. This is the conference operator. Welcome to the Shoals Technologies Group, Inc.

Second Quarter 2022 Earnings Conference Call.

As a reminder, all participants are in listen-only mode and the conference is being recorded. now General turn Counsel. would to conference I Peetz, Mehgan Instructions] like the to over [Operator Please ahead. go

Mehgan Peetz

Thank you, CEO, are assumptions, operator, call, forward-looking us uncertainties. Interim today. statements and and Kevin subject management thank you, the CFO, current projections with to everyone, will call based be risks me or On on which are Hubbard. Jason making and Hosting Whitaker, this for other joining and expectations

filings including the pandemic, factors you or understand of statements our performance the availability other chain As as because products changes. differ circumstances, other or and described Exchange Commission and that are forward-looking XXXX of our for comments, consider regulatory results. our demand COVID-XX are if as statements among company and and could performance industry things, regarding should project of you conditions, guidance factors. not components listen risk our policy the these and supply results in materially well and of These results, and Securities year economic from materials, incorrect include, market our calculation, disruptions, assumptions decreased price any financial with and full these guarantees Actual the factors

non-GAAP also forward-looking realized. included do presentation this discussion any and update duty no Today’s includes be undertake the made statements references measures. We that Although could forward-looking any this of statements. be caution forward-looking of therefore, the may date any the as prove and that the assumptions the results forward-looking in will statement inaccurate and we any of is assurance in believe statements indicate can financial that not there assumptions the contemplated to underlying discussion to are reasonable, or incorrect

that, definitional the to With of and reconciliations comparable me for over to non-GAAP information information company’s turn refer release Jason. financial call should measures contained measures. to let the quarter historical the press second in You

Jason Whitaker

off XXXX quarter than market. then put initiatives start despite recent challenges an snapshot on second our everyone. our Gross much, growth good margin on year with of followed very up and Mehgan, by Thank lower that second and whereas quarter providing To revenue quarter was was wrap afternoon, relative exceptionally I’ll components the our profit. you the by on developments delivered in over facing take this performance, delivered quarter a to an consecutive quarterly the update We XX% gross year-over-year and turn sales in the Kevin, record industry. gross the statement, results. overview has then quarter respectively, XX.X%. who some Gross quarter significant second the provide revenue and where our because of quarter, an quarter financial which profit mix. last U.S. solar and high will uncertainties year-over-year, the and this sixth with line X% grew it of Shoals our represents record this historical in in was of benefited mix margin more from perspective BLA I’ll

prior year. our had year-over-year, costs and sequentially in EBITDA quarter initiatives. of slightly the SG&A our Adjusted support percentage this logistics also a We reflecting sales material than increased investment raw to declined but growth as higher continued

shipments increased storage number of as by even to QX quarter SG&A awarded have and on customers. rate investments orders of of our and the products second shipments we in and increases of and well driven see growth year-over-year XX% products year. products backlog year. and of in the these significant for return to $XXX.X battery of to an with and remainder beginning are increase remains grown X% in expect a Backlog further ended through expanding Demand of expected our revenue awarded solar QX continue strong, orders sequentially. in the record of Components the as new We’re year-over-year, a year-over-year XX% slow million this to very

timeline generally revenue open buy a our this these typically year-over-year that relationship types and reliability, BLA for Re-fixing relationship. market the combine-as-you-go they to the share a savings marks the projects usually of BLA. offers, make System New as systems. are architecture Shoals to with buying the customers strong Once trying start that demand continued performance, of result become gains. components and customers transition, systems designed by quality, long-term and of work the customer installation will Shoals service start they XX% and Solutions grew with

and in EPCs the experiencing than the and our Solutions had the the our introduced BLA developers number continues XX in interest and recently additional management to QX, to our with we IPO products During a last time greatest in customers our year. of of converted storage adds System grow EV representing greater Customer charging quarter, X increase products sevenfold battery demand. since

customer demand. orders To award increased and continue with since management context, products more management beginning our We year. wire to three for the ramp provide meet of our production products more to than backlog folds new wire the

contributors our to our are storage products also energy of products Sales gross they margins to contributed profitability. in backlog grow. that part relatively our the small business carry growth and and of to high these quarter, revenue revenue, While continues add in to

the to BLA harnesses in year. complete track second X.X of on process the our the certification and for high-capacity half plug-and-play are We

megawatt to a allow to accelerate serve will current products high-capacity products have our the owners average new per these price and a higher expect growth as application. and BLA us plug-and-play We than will selling our fast-growing further X.X

we low-cost Europe, and pipeline to team customer expansion. and of Honduras. This maintenance U.S. focused successfully that products BLA in transitioned existing BLA Europe. sales in and powerful continue labor given Honduras where In More our can the on is also the subsequent quarter backlog. in proof is our even have the point an excellent our We fully skilled a labor provides safety, in of to and to pipeline building expenses. expensive less make we qualified, converting is a international improve end, benefits into than reliability announced brands, remains costs, areas that increase market strides reduce endorsement recently, are labor and reduce our

We’re administration also resulting bad support the in bank import financing. beginning traction see of export, international markets further from to the

turning our seeing is of completed expectations, Customer and to demand largely recently Now expect EV products many order exceeding balance be with and to to and the fleets we’re our certified for progress the end commercial growth rapid operators. our of business. team’s We’ve by due UL year. the certification the Scopus

we sales that received commercialization orders milestone quarter, only Prior this Those to system to and fleets electric systems commercial transitioning for a product key charging quarter, the the our are During EV solutions orders sold vehicles. complete for of in our first had components. of charging line. we represent

school accelerating $X orders first to and school program following bus are ease electrification EPA’s customers our from reportability bus received this who installation the in of of segment Demand attracted products. also We billion charging is our from announced AV clean May.

White of Asian solar supplied the U.S. solar Now cells I’ll take the was investigation by beginning moment The was claim to when developments Department market. recent for countries. exemption House AD/CVD the announced about uncertainty significant certain caused marked Southeast quarter from of the X-year positive panels a on a of delays talk panels. an the A solar portion by the alleviated tariff Commerce’s uncertainty in and and of

created point action an the conversations that customers projects placed tariff by turning harbor seen important with on we’ve sentiment. been customer President Biden’s executive was that up. delayed safe Our hold stood in have back or indicate And

[indiscernible] as inflation it as a tremendous should demand While recently the we yet, with we coupled for for the cannot accelerate see of increase incentives products. passed quantify the the storage reduction for full our market. new The impact extension of positive NAVs and

we yet. Although much how don’t how is and fast know something

of a in of position XXXX of in succeed challenging reflects the beginning strong the work solar We by performance think the since first to uncertain the Shoals that. the and this year, industry lot we have of to and company landscape faced the half done

rapidly upside in The and our Now market changes of of the headwinds capital that us see adjust to abating, process low to are many for to manufacturing potential demand. expectations. our intensity allows flexibility those we

of are than the our manufacturing hourly quarter. well-prepared production. XXX increases be more market, second as as we at labor meet will facility to tight new We production And in the is It demand adding continue scale we headcount, expanded essential schedule. the ramp our teammates ahead in our despite to

our that Robert of executives currently Dominic to addition Jeannette and to done Shoals Dominic as service and the of accounting to be contributions record industrial Dominic governance new Holley, and joining. he excited and Jeannette for products I’m stepping Julian support fourth Dominic we’re Mills to Officer. leadership marketer will a and on Kevin team. for over us job Robert car and the Directors. with was I’m the XX thank industries, Bardos and services. our as manufacturer track transitions leading director, at board has welcome retail industries. Financial of of board. a brings of successful outperformance as global is as resigned I pleased functions into company, our and range of long-time and replacing to and proven of from announce of will a across traded on designer, CFO our Finally, excited seasoned Jonna, want the Peter including multiple automotive, consultant Dominic his board. experience also interim Jeannette will corporate Chief capacity finance Jeannette Board years to continue Jeannette beginning welcome concurrently a organization. the publicly finance our start Prior Robert and a quarter, are a to CFO, have in tremendous to valuable with who in our to him enthusiasts. Kevin both across Peter and

the Jeannette can about our to excited bring Robert’s are and We that significant company. benefits experience

turn our who I’ll to will it XXXX Kevin, discuss Kevin? second Now financial over results. quarter

Kevin Hubbard

Thank Jason. you,

of Components. to Components’ grew of prior revenue quarter, shipments versus a lead driven of the a quarter, period XX% System Similar towards XX% combination to second level of in on the and Solutions boarding as as initially by in the of more in new which customers, million, the last opportunity we For million in revenue number as in storage System the well battery component over $XX.X can the increases XX% to the revenue work and XX% by strength system. driven converting to was year was significant prior period. in to Gross System Growth represented strong the a period. Solutions XX% as XX.X% prior prior quarter million X% XX% in Solutions increased XX.X% our Solutions. profit of $XX.X year in prior the Shoal’s period revenue demand year for profit percentage of Gross versus year $XX.X quarter. in combine-as-you-go to reflects the the System compared to them compared

high proportion decrease to a the BLA function our mentioned, Jason more QX As line was sales having year-over-year particularly relative of XXXX margin partially QX in was in a while of mix. XXXX, components, with historical gross

of We raw the logistic in than quarter also year. material higher had a and sales as percentage prior this costs

support administrative Second in expenses stock-based higher quarter primarily to prior during were $XX.X $XX.X compensation, million a to product and public general due second the change growth increased to million period for of EBITDA and new $XX.X Adjusted This the prior initiatives year. planned for same and payroll to $XX the higher period. compared result headcount compared quarter was costs. the million year was our company million

a We the adjusted discussed support over rate we EBITDA support slower pull-forward investments our year, As several exiting our in prior as confident $XX.X next million of outlook margin, several we million $XX.X to was the the income adjusted SG&A leverage our the to adjusted Adjusted expansion to EBITDA a multiyear year results. year. and will substantial this reconciliation in expect this we in to at growth the get adjusted experiencing release our quarter are second GAAP for press we period. growth income years. that net have on tables see the reflecting Please quarter second growth in previously, initiatives compared remain net and EBITDA grow bridge

X% and XXXX, The representing versus increase the XX, increase Shoal’s continued backlog record XXXX, a respectively. last the awarded and same robust $XXX.X an XX, products. time XX% company were to reflects March million, and and year new in of of awarded customer demand for orders As backlog orders June for

to previous full on the our of conditions market and XX% $XXX be million, input outlook. Based to we guidance to the reaffirming in current and our team, $XXX XXXX from expect XX% our and revenue to Turning million customers range are year-over-year. up year

in expect EBITDA Further, in of $X we $XX million the We million expect to to $XX million income to adjusted range to million. $XX adjusted to and $XX expenditures be range million to be XXXX the capital be net range the $X in of of million.

we XX% XX% the EBITDA adjusted to expect our outlook, generate addition, third adjusted in and half quarter. to midpoint income In revenue, the of net second at our currently of

Now back remarks. you, closing to Jason, for

Jason Whitaker

for to by like our for to I’d continued their employees of thanking company’s all Kevin. shareholders close their their our Thanks, contributions support. success and for our commitment Shoals, to customers our

the The and first together and be start, success second half I BLA shareholders for of and products And quarters. sales of this optimism our us in thank second strong and what of the demand everyone, of the the XXXX first appreciate a with core can coming you, strong we tremendous time your new achieve with we’ll products is half and initiatives we today. gives our of year. facing strength the to for EVs, solar that, and off the many confronted in That, in headwinds quarters for not

the questions. now line will open for We

Operator

Our Sachs. of question Instructions] Brian [Operator from comes Goldman first Lee

Brian Lee

revenue first was to typically you’re as the to -- is into growth coverage about and about mid-August in quantify expand us in you then here it about I the to you’d backlog you to, just terms in Jason, what the can sense year. at any a follow-up. speaking the like I for at you growth this potential think as sitting there’s type awarded to year? of talked if where typical of the think and Then through that? you of orders backlog hope out start a growth year? way one give the have the sort Maybe, then coverage of And guess We’re ahead be for to growing in the point level expecting levels XQ of think you XXXX, the rest how

Jason Whitaker

goal So we’ve when right, to quarter-over-quarter. at and the look always that continue world increase is talked orders about our for you backlog in as to past, the

had announcement to about some of discussed, tell announcement that fact our to customers past. But a you headwinds that was our or QX, result the and definitely solar of since IRA a the on nothing to have But able of of that. panels. we not-so-distant especially can also point, front at accelerating as accomplish exemption now, in there turning patterns indicated very we’ve what that. experienced as not when Not I is if what well. in order to of sentiment mention And prior definitely tariff the that have can we’ve As there, X-year point excited be you the the as right look that started recent we’ve specifics in that customer -- we the seasonality that the see considering exact on is us the that Brian, got today to normalize share we’re

Brian Lee

on full the you’re to appreciate level the color. like here. adjusted margin the enough. I Fair that It like XX% Okay. half for going second year. then And be guess, or the margin so seems I guidance the implies at of targets EBITDA additional year

being plus I you’ve right for the past, company. talked XX% of target sort think the the range as of sort about in

or think second you into Is back about quickly in these take investments, XX% to than level even the translate to ‘XX? is part this year? that as half should those going into how forward we this in middle where So next get pull maybe first you the longer see Or of of half returns? something the that

Jason Whitaker

matter that’s specifically the of carry about, this also our Brian, the profile, pointed fact. that take margin and talked did of BLA full continued throughout a saw we a towards in a profile, first the BLA. trend talked part when higher-margin we as growth very orders the at much as awarded And you look Solutions, about, as backlog our this year, is System we

XX% our a As from we resulted ago, mentioned margins almost you our year XQ that in XX%. gross where prepared if of in we remarks, at look revenue System north generated Solutions of of

solution, SG&A our this as which latter into also way and year we drive beginning of the system to we gross at look bottom. margins we to is through And investments, as full and we we to throughout over as continue on moving So converting the improve to the move mentioned, May. gaining BLA our do mix expect flow as customers the that leverage of a expect start the part to ultimately all we north, continue

So about specifically very excited to what things. been solution accomplish BLA we’ve system side core able of on the

Operator

Our next question comes ROTH of from Philip Capital. Shen

Philip Shen

in talk accelerating. how the production I along customers necessarily credits wondering benefits was But then something on the upside, adders. maybe if tax guys? to you you And about would If the you have are a and any I IRA what that impacting manufacturing First know the great. don’t one Act. we is for would business Inflation or also, you there’s you can your bonus other interesting, the it things XX% like if and way IRA that, front. benefits And benefiting is key how business quantify Unlike talked EV that manufacturers, you that can be seems that missed with on you can something some there’s maybe benefit it quoting to Reduction ultimately the else be especially be perhaps see ITC quantify is you the the might elsewhere if ITC guys? the just

Jason Whitaker

Phil. No problem at all,

can a you of I imagine, as So would people share think lot the sentiment.

about creates prospects of the arguably like. the it’s about domestic having Inflation a received for Reduction out And customers started manufacturing ever industry already pieces excited impactful far. probably thus talking the say we’ve the most And has would one whole. the very actually to solar industry of act that as and that We’re us I legislation reach

is we’re essentially prevailing tailwind at is that the you EV mention continue storage our able a the couple Not look the IP and process I value versus the point savings credit you side, when of storage provide to when to was field. impact on stand-alone our And I reinstated. to for wage, look of want will things labor increase to at think out, that the Phil, in definitely a manufacturing the food tax offering. from

XXX,XXX-unit inverters the I of you about towards think require that’s fleet. you a the as do -- pound when components, like. When they that domestic point I actually regardless, provisions detailed steel USPS to But it I there’s being defined. us for at positive provisioned at coupled manufacturers, appropriations the as still there, are an is some and be cap with look electrifying a opportunity to a of mean, And being of lot the for look to before, what lot removed think yet for obviously, as a is the infrastructure. $X especially you billion whole, provisions I want us going industry with I is said are right, But mentioned, the out And manufacturer. really here. out a there huge

Philip Shen

question your your from My that some the sustains, any downside of back second on resolves U.S. do detentions on if half risk earlier situation end expected, U.S. anything, The see situation. some you situation for key to revenue? And be the situation? is insulated companies, if actually June you Or you’re since If than there could that have numbers? fully companies. half think LPA upside do been some back detention going for LPA that

Jason Whitaker

what U.S. directly. I but want It done would as to comfort don’t we into before, something not Phil, of more, things. been delay. was particular gives based the I optimization most discount increasing, projects. we’re the analysis we’ve so the being And that has projects guidance past whole And designs LPA. hasn’t Phil, EBOS with it that that, by throughout today. seeing and of our to ahead really effect really a I come the far Look, about multiple LPA effect allowed has in what bottoms-up mean work call support still really at industry transpired a U.S. driven the is all, talked that’s think, what continue the to it, And of in any able I as us to some reiterate AD/CVD without but of the think, WRO move has think I it I result as upon

as in changes LPA So any not seeing result the industry the of at direct a moment. direct U.S.

Operator

Credit Our next comes from of question Mandloi Suisse. Maheep

Maheep Mandloi

in strong you Mandloi Maheep the Credit on from we And guys? about here should you QX. the the similar just expect question mix what Could in components growth a mix drove for half One ‘XX where Suisse. of in talk for saw that? we second

Jason Whitaker

Jason Yes, Maheep, here.

about as relatively new we expectation A talked time, past, components and to to an is we’ve designed couple bring projects, stabilize dollar absolute flat perspective. systems. our will from the it as typically is So as in be they’re in over of things consider that homework

components it as seen we’ve by driven of start before, things, that their year, And customers relationships the the so pointed has very And I of higher-margin throughout type backlog increase BLA them and that continued, a work does profile. part will our with strong new really as that’s our the create with off orders ability it awarded infrastructure. in side in buying first growth out of to

combination containing of that to Solutions start a BLA QX fact quarter relatively that do ‘XX, that continue and of we compared backlog itself, meaningful that full So with the had this grow an remain with orders amount awarded components in flat. the to as year, components we ultimately expect System outsized will to for in

Maheep Mandloi

just here. on position the And cash

the LPA little capital the contract in the quarter you a foresee case said million You growth down line? issued here. how issues -- half, $XX talk new said cash the should U.S. big And about the we about you it? working with a second think in you Can

Kevin Hubbard

and quarter, to down used capital, Yes, some during debt. pay is this it we Working certainly, mean, cash built we the Kevin. I

at cash and mind, as And and cash during we quarters. borrow to be capital a growth, needs should and flatten start some we in starting little quarter QX. come our continue quarter, and stabilize user As to of look keep really use fourth see some accelerate But out a as a to we’re bit bit. out we going little into third quarters working we then inventory QX to

So some in we’re going to see that. variability

Maheep Mandloi

a just the hand remind us right can then now? have of you And on follow-up, liquidity you

Kevin Hubbard

as of available. we XX, $XX think, I on had, about June million Well, cash. million the And $XX revolver in had we

Operator

comes of Oppenheimer. Colin question next from Rusch Our

Colin Rusch

entrants bit Can evolution environment you talk about you’re a the the here of any weeks? that or seeing new just backdrop little that and competitive of last sort few in

Jason Whitaker

Yes.

So right, landscape our when you the in remains still at Solutions. really the we’ve general, very to meaningful same talked in remains System seeing on the look about it past. any side. not landscape competition what coming really Still competitive in similar solar competitive of the EV the And the form

seen not the that I’ve So recent any announcement as the in most even IRA. or changes the of in the since past

Colin Rusch

look you solar? when then able out side? how much EV to backlog, your from And coming are is Or the of break is it XXX% you that Excellent. at

Jason Whitaker

out upon of e-mobility of as product definitely out going the can even And it’s after At what the international. not what sales as released is things. school XXX% EV side that So breaking segments when literally But are offering, or fleets incentives point, on or consider bus we’re about definitely excited like I we’ve products specifics, the just not very, been electrification we this to be we’re new new that well accomplish ahead solar. whether out very you say the backlog team plan of there. it based able

side new storage in well the form wire out already as products things. released as only So e-mobility management the about as continues of talked of not again, as been to increase that’s well we

Operator

Our next Joseph question of Partners. comes from Osha Guggenheim

Unidentified Analyst

actually for And is Hilary of answered. my been questions this Joe. So most on have

kind markets, traction. continue So you gain of just touch one I wanted and particularly that as to the on, international to thing was

you quarter, some this international when a to could could the And project I see Honduras the had markets to business? might color larger color share on just account would the of us share we start You great. any there you hoping but be give announced was for start

Jason Whitaker

Absolutely.

specifics is pipeline to to import doing Biden well. a do, value our administration as things, mention And of as geographically we’re look, mentioned, now quality, as fully about the which want pipeline our perspective, you as our touched we’re export of solidifies gain qualified, just result that at also we backlog, initiatives, I the build And traction continue look traction growth Honduras, just and right of a but in which to over is further are bank as really the group further to direct not O&M up markets diversified right, and product financing. other also reliability, back seeing, our remarks, your BLA things on side we brings exact out side So talked sales working the when the of to become of the recently focus we the asset. more expect although as not awarded support you we’ve and today our the that speaking life opportunity over converting further From on expanding products, business only focus prepared on international our do we time. labor continuing but that team’s past, over and you in international in

Operator

Kasope from comes Harrison question Sandler. next of Our Piper

Kasope Harrison

follow-up Maheep’s Maybe just question. a on

structurally think beyond As basis? for cycle this just about do just how What’s XXXX cash ‘XX cash? business think the and you about on like you you good beyond, Shoals move conversion a and consolidated a

Kevin Hubbard

We we noncontrolling When the we’re of the free Yes. at to other about is look couple flow, think obligated -- cash distribution consider PP&E on our -- for forward looking we our our and is really right, interest. that purchase things. certainly, we’re thing at just a where

go gain really we and third as the moves really cash to cycle that it that from quarter. the expect quarter through and perspective, from and forward, leverage we see the on So a we paydown fourth debt

Kasope Harrison

but second the XX? half, it not with just as would you think number helpful. beyond be maybe any that the XXX, ballpark looks the necessarily second just do And Okay. half like? Is of year, you what Just move

Kevin Hubbard

Yes.

forward just question. I moving think on we’d to think that about back XXXX, in that I we’ve think when looked we you but don’t get that, to far, have

Kasope Harrison

launch. Congrats And EV the enough. then a follow-up on on Fair product. the just

to orders the new expect Just Just business. to that the expect in pickup that associated the your might when do wondering disclosing proportion when point consider momentum significant you business? see that’s backlog with you maybe gain you meaningful in of to EV a

Jason Whitaker

excited again, I we’ve at be the you savings of And when Again, ahead the amount place. and at ahead we’re to product on in able you time happy while well offer mean, term. look offering. our we’re think based significant the has about look been increasing Yes. opportunity of that And it to I amount what reliability plan accomplish in of at very able infrastructure just solidifies the the to short of install. put

As anything with not we the that and now, we’re of when doing more breaking right out. definitely look benchmark, traction you as today. a we’re that considering something into once additional little it’s stability, gain But else,

Kasope Harrison

Fair for enough. we year? question. systems about a mix to think should How components quick the of the half the just housekeeping And second of

Jason Whitaker

portion to And released in number. grow System of form again, out Solutions, as orders year not the trend we that that backlog our the a full this what can beginning I But speak. the comes were meaningful at specifically literally say of of We’ve awarded BLA. a booked is and that continues

QX year. we of and side start in BLA next contributor outsized of expect of move to the become So QX and we as even a would more beginning things the throughout

Operator

Our next Osborne Co. question comes of Jeff and from Cowen

Jeff Osborne

received orders or delaying from orders in was had President recent Are anyone X since are on with dictating Biden? Jason, the weeks announcement customs. June curious on X just any U.S. orders the LPA. up Phil’s of clearing following the question contingent upon the you’ve that I quick questions that I new

or with Is just trying a of understand the mechanics I’m to no? leading little to role bit there? of that uncertainty a sort So the potential

Jason Whitaker

LPA perspective U.S. not not that, seeing result of orders a as or are a From as standing a we’re any just of delayed Jeff. orders cancel result general, that that question, solar in that. Great

as attribute we’re So mentioned direct today. LPA not you call, of what I kind would really that impacts seeing specifically U.S. I to before, any, can

Jeff Osborne

what were are running And time. what they’ll staff remind it. of the you you are like additional anticipate lead Got that’s in with mentioned and or those times what us XXX You lead for the times? past be then out what you were constrained and... when now Can BLA expansion

Jason Whitaker

of I simple vary exactly because mean vary I where things one at. Jeff, project. to I upon value for has as entry project drive much mating But subcomponents that when which perspective. panel not specific as connector, connector, to as any out to right, itself that lead things, BLA which you look we of of that can do have released mean, does mean, lead an we’ve time. side to a I a project mated lead-time you itself is manufacturer that have exact from the consume at meaningless connector, a so mean maybe it COGS portion example, a a portion times depending is

are those bringing be whole back forward really on year, very excited it I’m look able about to But to accomplish forth happy as able the the add. you a throughout to them as we the team that does accomplish additional very bit. what that So able to quarters. continue on again, board, continues a to the Very, to that have very, pointing we’re and quite and we’re team in to members to subsequent members vary set on grow plan company

Jeff Osborne

version out? very to the with transition customers be Good something with just from your there And to to the coming that months? or in any getting trainings coming speed that, watch up hear. Like X.X might any quickly, is

Jason Whitaker

Yes.

yet tuned conversations, yes. in progresses are yes, to I initial So we haven’t but as But month, coming having a some definitely would launch. how product we that full stay the released

Operator

Morningstar. Brett of comes question Castelli next Our from

Brett Castelli

Maybe on just X.X. staying the BLA

have think on per a in I megawatt. that quantify price anymore? mentioned prepared a the that Just average if maybe selling Was wondering maybe $X you higher could would that, you remarks

Jason Whitaker

out you given of regarding does when BLA again, yet figures bringing product But itself. that exact is as the X.X. product that incorporate to and you back it market into stand We features see -- haven’t additional any the we’re

megawatt. going have which So with higher $X per come to instance, and allow to revenue those per ultimately features additional increase itself ultimately a are us equates potential

of simultaneously. that will also that, going them to provides of customer product in the they that doing with back the to field be we’re savings additional catch we’re itself, deploy into -- the labor to BLA features our an that coming self also X.X the additional feature with coming in treat allow in effect able value So that form when to our building

Brett Castelli

Level side, AC product And on Okay. then DC EV the there is me, or market? more the focused fast-charge the on charging or can your X remind on market you more

Jason Whitaker

in there, product Level that and Level you Much are really sites production on DC X our the work look When or out are serve we we storage X or that fast EV, a and lines different like all about solar, they’re of whether on, chargers. to of both combination you’re talking at technology. really we’re continue and agnostic

the depends can work we it configurations. So on specifics the with really and all site

Operator

session question-and-answer concludes This conference the call. and today’s

pleasant You lines. may have for and you disconnect Thank a day. participating, your

Shoals Technologies (SHLS) 16 Aug 222022 Q2 Earnings call transcript