Shoals Technologies Group, Inc.

Good morning and welcome to the Shoals Technologies Group second quarter 2026 earnings conference call. Today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. At this time, I would like to turn the conference over to Matt Tractenberg, Vice President of Finance and Investor Relations for Shoals Technologies Group. Thank you. You may begin.

Thank you, Warren, and thank you everyone for joining us today. Hosting the call with me is our CEO, Brandon Moss, and our CFO, Dominic Bardos. On this call, management will be making projections or other forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties and should not be considered guarantees of performance or results. Actual results could differ materially. Those risks and uncertainties are listed for investors in our most recent SEC filings. Today's presentation also includes references to non-GAAP financial measures. You should refer to the information contained in the company's second quarter press release for definitional information and reconciliations of historical non-GAAP measures to the nearest comparable GAAP financial measures. Please note that the slides you see here are available for download from the investor relations section of our website at investors.scholes.com. With that, let me turn the call over to Brandon.

Thank you, Matt, and thanks to everyone joining us on the call. Second quarter revenue was within our guided range at $163 million, up 47% over the prior year period. Our commercial team continued their strong performance by adding approximately $207 million of new orders in the period, resulting in a solid book to bill of 1.3. This drove another company record backlog in awarded orders, or BLAO, of $801 million, an increase of 19% year over year. As of quarter end, approximately $700 million of our BLAO has shipment dates in the upcoming four quarters through Q2 of 2027. Second quarter adjusted gross profit percentage was also within our expected range at 30.6%. We expect to continue making progress and margin improvement driven by positive mix and productivity gains and supported by the strong underlying demand environment. SG&A, including all legal expense was $28 million representing 17% of revenue, a 400 basis point decline as compared to 21% last year. Second quarter adjusted EBITDA of $31.6 million came in within our guided range and grew approximately 28% year over year. As you've seen, we also prevailed in our 2025 ITC case against Voltage. This was a critical outcome for our shareholders and U.S. innovation in general. We look forward to resolving the matter of damages in our upcoming district court case. We are very optimistic in how we see the market evolving and our competitive position of strength. We continue to expand production at a measured pace to ensure we deliver products with the speed and quality customers expect from us. Factory consolidations are never an easy task. We've made steady progress and continue to identify opportunities for improvement. While I'm encouraged by the consistent weekly and monthly improvement as we deploy new lean manufacturing processes, we still have work to do. The operational improvements we will realize from this strategic initiative will drive value for all stakeholders in future periods. Briefly turning to our various business lines. The second quarter was another strong period of growth within our core utility scale solar market. Once again, our quote volume in the quarter exceeded a billion dollars of unique projects, adding to our strong pipeline. I'm also encouraged by the progress we're making in key international markets like Australia, as evidenced by our increased quote activity and customer engagement. International BLAO now stands at $102 million, Our community, commercial, and industrial business, or CC&I business, which remains a small piece of our overall mix, continues to perform well. Our OEM business is providing a stable and visible revenue stream, growing at 51% on a year-over-year basis. And finally, we produced approximately $20 million of BEST revenue in the quarter and secured approximately $10 million of additional orders. BEST BLAO now stands at $65 million. As previously stated, BEST orders will be episodic and are dependent on how customers manage construction schedules. I'm also excited to announce a partnership with TerraFlow, a leading grid-scale developer of long-duration energy storage infrastructure. Under the agreement, Scholz will support TerraFlow's growing energy storage portfolio with our PowerHub recombiner solution for utility scale and data center applications. The MOU is intended to support TerraFlow's future deployment plan of up to 5 gigawatts annually. Overall, the quarter played out as anticipated, and the year is tracking to our expectations. We are executing well to finish the move into our new facility and our expanding capacity and capabilities at a measured pace. Underlying demand remains intact and our competitive position is strengthened. We're very excited about what we see ahead of us. Dom, I'll hand it over to you for a deeper dive into our financial performance and guidance.