Target Hospitality Corp.

For the period ended Jun 30, 2025. Filed Aug 7, 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.

Jun 30, 2025 · Filed Aug 7, 2025

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

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Contents

Consolidated Balance Sheets


· · June 30, · · December 31,
· 2025 · 2024
Assets · · ·
Current assets: · ·
Cash and cash equivalents	$19,237	$190,668
Accounts receivable, less allowance for credit losses of $546 and $534, respectively	57,435	49,342
Prepaid expenses and other assets	6,375	9,326
Total current assets	83,047	249,336

Specialty rental assets, net	317,375	320,852
Other property, plant and equipment, net	36,889	34,935
Operating lease right-of-use assets, net	7,719	24,935
Goodwill	41,038	41,038
Other intangible assets, net	46,076	52,807
Deferred financing costs revolver, net	1,570	1,871
Total assets	$533,714	$725,774

Liabilities
Current liabilities:
Accounts payable	$21,426	$16,187
Accrued liabilities	17,168	25,782
Deferred revenue and customer deposits	8,508	699
Current portion of operating lease obligations	7,106	8,548
Current portion of finance lease and other financing obligations (Note 7)	2,411	1,860
Current portion of long-term debt, net (Note 7)	—	180,328
Total current liabilities	56,619	233,404

Other liabilities:
Revolving credit facility (Note 7)	24,000	—
Long-term finance lease and other financing obligations	2,343	1,451
Long-term operating lease obligations	1,976	17,459
Deferred revenue and customer deposits	536	536
Deferred tax liability	44,427	49,271
Asset retirement obligations	2,628	2,563
Total liabilities	132,529	304,684

Commitments and contingencies (Note 11)
Stockholders' equity:
Common Stock, $0.0001 par, 400,000,000 authorized, 113,075,002 issued and 99,778,072 outstanding as of June 30, 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 June 30, 2025 and 13,296,930 shares as of December 31, 2024.	(57,304)	(57,304)
Additional paid-in-capital	150,350	148,780
Accumulated other comprehensive loss	(2,768)	(2,785)
Accumulated earnings	310,988	332,380
Total stockholders' equity attributable to Target Hospitality Corp. stockholders	401,276	421,081
Noncontrolling interest in consolidated subsidiaries	(91)	9
Total stockholders' equity	401,185	421,090
Total liabilities and stockholders' equity	$533,714	$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.