Target Hospitality Corp.

For the period ended Mar 31, 2025. Filed May 19, 2025.

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.

Mar 31, 2025 · Filed May 19, 2025

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

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Contents

Consolidated Balance Sheets


· · March 31, · · December 31,
· 2025 · 2024
Assets · · ·
Current assets: · ·
Cash and cash equivalents	$34,468	$190,668
Accounts receivable, less allowance for credit losses of $551 and $534, respectively	56,949	49,342
Prepaid expenses and other assets	8,172	9,326
Total current assets	99,589	249,336

Specialty rental assets, net	326,129	320,852
Other property, plant and equipment, net	36,432	34,935
Operating lease right-of-use assets, net	8,166	24,935
Goodwill	41,038	41,038
Other intangible assets, net	49,444	52,807
Deferred financing costs revolver, net	1,722	1,871
Total assets	$562,520	$725,774

Liabilities
Current liabilities:
Accounts payable	$23,126	$16,187
Accrued liabilities	17,444	25,782
Deferred revenue and customer deposits	1,010	699
Current portion of operating lease obligations	6,682	8,548
Current portion of finance lease and other financing obligations (Note 7)	2,250	1,860
Current portion of long-term debt, net (Note 7)	—	180,328
Total current liabilities	50,512	233,404

Other liabilities:
Revolving credit facility (Note 7)	40,900	—
Long-term finance lease and other financing obligations	2,043	1,451
Long-term operating lease obligations	2,880	17,459
Other non-current liabilities	44	—
Deferred revenue and customer deposits	536	536
Deferred tax liability	47,742	49,271
Asset retirement obligations	2,595	2,563
Total liabilities	147,252	304,684

Commitments and contingencies (Note 11)
Stockholders' equity:
Common Stock, $0.0001 par, 400,000,000 authorized, 112,661,646 issued and 99,364,716 outstanding as of March 31, 2025 and 112,248,984 issued and 98,952,054 outstanding as of December 31, 2024.	10	10
Common Stock in treasury at cost, 13,296,930 shares as of March 31, 2025 and 13,296,930 shares as of December 31, 2024.	(57,304)	(57,304)
Additional paid-in-capital	149,479	148,780
Accumulated other comprehensive loss	(2,789)	(2,785)
Accumulated earnings	325,919	332,380
Total stockholders' equity attributable to Target Hospitality Corp. stockholders	415,315	421,081
Noncontrolling interest in consolidated subsidiaries	(47)	9
Total stockholders' equity	415,268	421,090
Total liabilities and stockholders' equity	$562,520	$725,774

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.