Montrose Environmental Group Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
ONT$23.66+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Financial Position
(In thousands, except share data)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets | ||
| Cash, cash equivalents and restricted cash | $13,045 | $23,240 |
| Accounts receivable, net | 152,849 | 112,360 |
| Contract assets | 65,553 | 51,629 |
| Prepaid and other current assets | 15,489 | 13,695 |
| Total current assets | 246,936 | 200,924 |
| Non-current assets | ||
| Property and equipment, net | 66,096 | 56,825 |
| Operating lease right-of-use asset, net | 40,923 | 32,260 |
| Finance lease right-of-use asset, net | 17,242 | 13,248 |
| Goodwill | 482,607 | 364,449 |
| Other intangible assets, net | 144,652 | 140,813 |
| Other assets | 8,437 | 8,267 |
| Total assets | $1,006,893 | $816,786 |
| Liabilities, Convertible and Redeemable Series A-2 Preferred Stock and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable and other accrued liabilities | $57,579 | $59,920 |
| Accrued payroll and benefits | 31,556 | 34,660 |
| Business acquisitions contingent consideration, current | 6,423 | 3,592 |
| Current portion of operating lease liabilities | 11,696 | 9,963 |
| Current portion of finance lease liabilities | 4,232 | 3,956 |
| Current portion of long-term debt | 16,753 | 14,196 |
| Total current liabilities | 128,239 | 126,287 |
| Non-current liabilities | ||
| Business acquisitions contingent consideration, long-term | 27,924 | 2,448 |
| Other non-current liabilities | 6,355 | 6,569 |
| Deferred tax liabilities, net | 8,274 | 6,064 |
| Conversion option related to Series A-2 Preferred Stock | 20,054 | 19,017 |
| Operating lease liability, net of current portion | 31,543 | 25,048 |
| Finance lease liability, net of current portion | 9,378 | 8,185 |
| Long-term debt, net of deferred financing fees | 233,007 | 148,988 |
| Total liabilities | $464,774 | $342,606 |
| Commitments and contingencies | ||
| Convertible and redeemable Series A-2 Preferred Stock $0.0001 par value | ||
| Authorized, issued and outstanding shares: 11,667 and 17,500 at September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $122.2 million and $182.2 million at September 30, 2024 and December 31, 2023, respectively | 92,928 | 152,928 |
| Stockholders’ equity: | ||
| Common stock, $0.000004 par value; authorized shares: 190,000,000 at September 30, 2024 and December 31, 2023; issued and outstanding shares: 34,296,493 and 30,190,231 at September 30, 2024 and December 31, 2023, respectively | — | — |
| Additional paid-in-capital | 693,931 | 531,831 |
| Accumulated deficit | (244,447) | (210,356) |
| Accumulated other comprehensive (loss) income | (293) | (223) |
| Total stockholders’ equity | 449,191 | 321,252 |
| Total liabilities, convertible and redeemable Series A-2 Preferred Stock and Stockholders’ Equity | $1,006,893 | $816,786 |
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