Target Hospitality Corp

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

About this filing

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 12, 2024

TH$10.30-6.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Unaudited Consolidated Statements of Cash Flows


· · For the Nine Months Ended
· · September 30,
· 2024 · 2023
Cash flows from operating activities: · · ·
Net income	$58,863	$135,857
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	45,235	54,648
Amortization of intangible assets	10,103	10,076
Noncash operating lease expense	7,995	13,878
Accretion of asset retirement obligation	107	131
Amortization of deferred financing costs	817	2,441
Amortization of original issue discount	1,289	437
Change in fair value of warrant liabilities	(675)	(1,809)
Stock-based compensation expense	5,683	13,948
Loss on disposal of specialty rental assets and other property, plant and equipment	80	137
Loss on extinguishment of debt	—	2,128
Deferred income taxes	(314)	33,231
Provision for credit losses on receivables, net of recoveries	275	90
Changes in operating assets and liabilities
Accounts receivable	19,578	(17,677)
Prepaid expenses and other assets	3,129	5,565
Accounts payable and other accrued liabilities	(19,285)	(19,138)
Deferred revenue and customer deposits	(4,534)	(106,112)
Operating lease obligation	(7,821)	(10,172)
Other non-current assets and liabilities	598	853
Net cash provided by operating activities	121,123	118,512
Cash flows from investing activities:
Purchase of specialty rental assets	(23,638)	(53,662)
Purchase of property, plant, and equipment	(324)	(2,941)
Acquired intangible assets	—	(4,547)
Proceeds from sale of specialty rental assets and other property, plant and equipment	541	241
Net cash used in investing activities	(23,421)	(60,909)
Cash flows from financing activities:
Principal payments on finance and finance lease obligations	(1,223)	(1,037)
Repayment of Senior Notes	—	(125,000)
Repurchase of Common Stock	(21,894)	—
Payment of issuance costs from warrant exchange	—	(1,504)
Proceeds from issuance of Common Stock from exercise of warrants	3	209
Proceeds from issuance of Common Stock from exercise of options	1,850	1,396
Payment of deferred financing costs	—	(1,423)
Taxes paid related to net share settlement of equity awards	(2,615)	(6,818)
Net cash used in financing activities	(23,879)	(134,177)

Effect of exchange rate changes on cash and cash equivalents	(5)	5

Net increase (decrease) in cash and cash equivalents	73,818	(76,569)
Cash and cash equivalents - beginning of period	103,929	181,673
Cash and cash equivalents - end of period	$177,747	$105,104

Non-cash investing and financing activity:
Non-cash change in accrued capital expenditures	$(2,771)	$(2,987)
Non-cash change in accrued repurchase of Common Stock	$(524)	$—
Non-cash change in finance lease obligations	$(1,372)	$(1,223)
Non-cash change in accrual of taxes for net share settlement of equity awards	$(47)	—
Non-cash change in accrued distributions to noncontrolling interest	$(65)	$—

See accompanying notes to the unaudited consolidated financial statements*.*

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.