Target Hospitality Corp.

For the period ended Dec 31, 2024. Filed Mar 26, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 26, 2025

TH$11.06-2.6%Stored close · as of Nov 9, 2026

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

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Contents

Consolidated Balance Sheets

($ in thousands)


· · December 31, · · December 31,
· 2024 · 2023
Assets · · ·
Current assets: · ·
Cash and cash equivalents	$190,668	$103,929
Accounts receivable, less allowance for credit losses of $534 and $550, respectively	49,342	67,092
Prepaid expenses and other assets	9,326	9,479
Total current assets	249,336	180,500

Specialty rental assets, net	320,852	349,064
Other property, plant and equipment, net	34,935	34,631
Operating lease right-of-use assets, net	24,935	19,698
Goodwill	41,038	41,038
Other intangible assets, net	52,807	66,282
Deferred financing costs revolver, net	1,871	2,479
Other non-current assets	—	661
Total assets	$725,774	$694,353

Liabilities
Current liabilities:
Accounts payable	$16,187	$20,926
Accrued liabilities	25,782	33,652
Deferred revenue and customer deposits	699	1,794
Current portion of operating lease obligations	8,548	11,914
Current portion of finance lease and other financing obligations (Note 8)	1,860	1,369
Current warrant liabilities	—	675
Current portion of long-term debt, net (Note 8)	180,328	—
Total current liabilities	233,404	70,330

Other liabilities:
Long-term debt (Note 8):
Principal amount	—	181,446
Less: unamortized original issue discount	—	(2,619)
Less: unamortized term loan deferred financing costs	—	(734)
Long-term debt, net	—	178,093
Long-term finance lease and other financing obligations	1,451	1,024
Long-term operating lease obligations	17,459	8,426
Deferred revenue and customer deposits	536	3,675
Deferred tax liability	49,271	53,074
Asset retirement obligations	2,563	2,424
Total liabilities	304,684	317,046

Commitments and contingencies (Note 12)
Stockholders' equity:
Common Stock, $0.0001 par, 400,000,000 authorized, 112,248,984 issued and 98,952,054 outstanding as of December 31, 2024 and 111,091,266 issued and 101,660,601 outstanding as of December 31, 2023.	10	10
Common Stock in treasury at cost, 13,296,930 shares as of December 31, 2024 and 9,430,665 shares as of December 31, 2023.	(57,304)	(23,559)
Additional paid-in-capital	148,780	142,379
Accumulated other comprehensive loss	(2,785)	(2,638)
Accumulated earnings	332,380	261,115
Total stockholders' equity attributable to Target Hospitality Corp. stockholders	421,081	377,307
Noncontrolling interest in consolidated subsidiaries	9	—
Total stockholders' equity	421,090	377,307
Total liabilities and stockholders' equity	$725,774	$694,353

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.