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 Operations and Comprehensive Loss
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
(In thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | $178,687 | $167,937 | $507,337 | $458,466 |
| Cost of revenues (exclusive of depreciation and amortization shown below) | 105,596 | 102,155 | 306,239 | 281,984 |
| Selling, general and administrative expense | 60,869 | 56,901 | 177,182 | 161,761 |
| Fair value changes in business acquisition contingencies | 143 | 459 | 385 | 414 |
| Depreciation and amortization | 13,240 | 11,863 | 37,408 | 33,816 |
| Loss from operations | (1,161) | (3,441) | (13,877) | (19,509) |
| Other income (expense), net | (3,898) | (671) | (4,314) | (1,560) |
| Interest expense, net | (4,137) | (2,089) | (11,420) | (5,507) |
| Total other income (expense), net | (8,035) | (2,760) | (15,734) | (7,067) |
| Loss before expense from income taxes | (9,196) | (6,201) | (29,611) | (26,576) |
| Income tax expense | 1,368 | 1,324 | 4,480 | 2,842 |
| Net loss | $(10,564) | $(7,525) | $(34,091) | $(29,418) |
| Equity adjustment from foreign currency translation | (70) | (198) | (70) | (304) |
| Comprehensive loss | (10,634) | (7,723) | (34,161) | (29,722) |
| Convertible and redeemable Series A-2 Preferred Stock dividend | (2,750) | (4,100) | (8,314) | (12,300) |
| Net loss attributable to common stockholders | (13,314) | (11,625) | (42,405) | (41,718) |
| Weighted average common shares outstanding— basic and diluted | 34,242 | 30,143 | 32,647 | 30,016 |
| Net loss per share attributable to common stockholders— basic and diluted | $(0.39) | $(0.39) | $(1.30) | $(1.39) |
UNAUDITED COND ENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE AND REDEEMABLE SERIES A-2 PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
(In thousands, except share data)
| Accumulated | ||||||||
|---|---|---|---|---|---|---|---|---|
| Convertible and Redeemable · Additional · Other · Total | ||||||||
| Series A-2 Preferred Stock · Common Stock · Paid-In · Accumulated · Comprehensive · Stockholders' | ||||||||
| Shares | Amount | Shares | Amount | Capital | Deficit | Income (Loss) | Equity | |
| Balance at December 31, 2022 | 17,500 | $152,928 | 29,746,793 | $— | $492,676 | $(179,497) | $8 | $313,187 |
| Net loss | — | — | — | — | — | (14,719) | — | (14,719) |
| Stock-based compensation | — | — | — | — | 13,035 | — | — | 13,035 |
| Dividend payment to the Series A-2 preferred stockholders | — | — | — | — | (4,100) | — | — | (4,100) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 214,571 | — | 2,690 | — | — | 2,690 |
| Accumulated other comprehensive income | — | — | — | — | — | — | 12 | 12 |
| Balance at March 31, 2023 | 17,500 | $152,928 | 29,961,364 | $— | $504,301 | $(194,216) | $20 | $310,105 |
| Net loss | — | — | — | — | — | (7,174) | — | (7,174) |
| Stock-based compensation | — | — | — | — | 11,090 | — | — | 11,090 |
| Dividend payment to the Series A-2 preferred shareholders | — | — | — | — | (4,100) | — | — | (4,100) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 43,538 | — | 605 | — | — | 605 |
| Acquisitions consideration paid in common stock | — | — | 86,577 | — | 2,598 | — | — | 2,598 |
| Accumulated other comprehensive loss | — | — | — | — | — | — | (118) | (118) |
| Balance at June 30, 2023 | 17,500 | $152,928 | 30,091,479 | $— | $514,494 | $(201,390) | $(98) | $313,006 |
| Net loss | — | — | — | — | — | (7,525) | — | (7,525) |
| Stock-based compensation | — | — | — | — | 11,484 | — | — | 11,484 |
| Dividend payment to the Series A-2 preferred shareholders | — | — | — | — | (4,100) | — | — | (4,100) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 49,490 | — | 1,234 | — | — | 1,234 |
| Payment of earn-out liability | — | — | 26,688 | — | 1,000 | — | — | 1,000 |
| Accumulated other comprehensive income | — | — | — | — | — | — | (198) | (198) |
| Balance at September 30, 2023 | 17,500 | $152,928 | 30,167,657 | $— | $524,112 | $(208,915) | $(296) | $314,901 |
| Accumulated | ||||||||
|---|---|---|---|---|---|---|---|---|
| Convertible and Redeemable · Additional · Other · Total | ||||||||
| Series A-2 Preferred Stock · Common Stock · Paid-In · Accumulated · Comprehensive · Stockholders' | ||||||||
| Shares | Amount | Shares | Amount | Capital | Deficit | Income (Loss) | Equity | |
| Balance at December 31, 2023 | 17,500 | $152,928 | 30,190,231 | $— | $531,831 | $(210,356) | $(223) | $321,252 |
| Net loss | — | — | — | — | — | (13,357) | — | (13,357) |
| Stock-based compensation | — | — | — | — | 11,272 | — | — | 11,272 |
| Redemption of Series A-2 Preferred Stock | (5,833) | (60,000) | — | — | — | — | — | - |
| Dividend payment to the Series A-2 preferred stockholders | — | — | — | — | (2,814) | — | — | (2,814) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 171,647 | — | 487 | — | — | 487 |
| Acquisitions consideration paid in common stock | — | — | 220,734 | — | 6,580 | — | — | 6,580 |
| Payment of earn-out liability | — | — | 35,250 | — | 1,087 | — | — | 1,087 |
| Accumulated other comprehensive income | — | — | — | — | — | — | (35) | (35) |
| Balance at March 31, 2024 | 11,667 | $92,928 | 30,617,862 | $— | $548,443 | $(223,713) | $(258) | $324,472 |
| Net loss | — | — | — | — | — | (10,170) | — | (10,170) |
| Stock-based compensation | — | — | — | — | 11,831 | — | — | 11,831 |
| Dividend payment to the Series A-2 preferred shareholders | — | — | — | — | (2,750) | — | — | (2,750) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 39,144 | — | 888 | — | — | 888 |
| Issuance of common stock pursuant to follow-on offering | — | — | 3,450,000 | — | 121,776 | — | — | 121,776 |
| Acquisitions consideration paid in common stock | — | — | 61,707 | — | 2,691 | — | — | 2,691 |
| Accumulated other comprehensive loss | — | — | — | — | — | — | 35 | 35 |
| Balance at June 30, 2024 | 11,667 | $92,928 | 34,168,713 | $— | $682,879 | $(233,883) | $(223) | $448,773 |
| Net loss | — | — | — | — | — | (10,564) | — | (10,564) |
| Stock-based compensation | — | — | — | — | 11,763 | — | — | 11,763 |
| Dividend payment to the Series A-2 preferred shareholders | — | — | — | — | (2,750) | — | — | (2,750) |
| Common stock issuances pursuant to exercises and vesting of equity awards | — | — | 96,827 | — | 598 | — | — | 598 |
| Acquisitions consideration paid in common stock | — | — | 30,953 | — | 1,441 | — | — | 1,441 |
| Accumulated other comprehensive loss | — | — | — | — | — | — | (70) | (70) |
| Balance at September 30, 2024 | 11,667 | $92,928 | 34,296,493 | $— | $693,931 | $(244,447) | $(293) | $449,191 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.