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Perimeter Solutions SA

For the period ended Mar 31, 2024. Filed May 9, 2024.

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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, 2024 · Filed May 9, 2024

PRM$31.58+7.1%Stored close · as of Nov 9, 2026

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. Segment Information

  1. SEGMENT INFORMATION

The Company’s products and operations are managed and reported intwo operating segments: Fire Safety and Specialty Products.

The Fire Safety segment manufactures and sells fire retardant and firefighting foam products, as well as specialized equipment and services typically offered in conjunction with these retardant and foam products.

The Specialty Products segment produces and sells P 2 S 5 used inseveral end markets and applications, including lubricant additives, various agricultural applications, various mining applications, and emerging electric battery technologies. Within the lubricant additive end market, currently the Company’s largest end market application, P 2 S 5 is primarily used in the production of a family of compounds called ZDDP, which is considered an essential component in the formulation of engine oils with its main function to provide anti-wear protection to engine components. P 2 S 5 is also used in pesticide and mining chemicals applications.

Interest income, interest expense, other income (expense) and certain corporate operating expenses are neither allocated to the segments nor included in the measures of segment performance by the chief operating decision-maker (“CODM”). The corporate category is not considered to be a segment. The CODM is the Company's CEO.

The Company’s CODM uses the segment net sales and segment Adjusted EBITDA to assess the ongoing performance of the Company’s business segments and to allocate resources. The Company defines segment Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, as adjusted on a consistent basis for certain non-recurring or unusual items in a balanced manner and on a segment basis (“Segment Adjusted EBITDA”). These non-recurring or unusual items may include acquisition, integration and restructuring related costs along with other non-recurring items.

Summarized financial information for the Company’s reportable segments are presented and reconciled to consolidated financial information in the following tables (in thousands):

Three Months Ended March 31,
20242023
Net sales:
Fire safety
Products$23,992$18,026
Service and others1,163718
Total fire safety25,15518,744
Specialty products33,88925,114
Total net sales$59,044$43,858
Segment Adjusted EBITDA:
Fire safety$(241)$(3,361)
Specialty products12,3776,477
Total Segment Adjusted EBITDA12,1363,116
Less:
Depreciation and amortization16,41216,087
Interest and financing expense10,64810,146
Founders advisory fees - related party68,333(24,236)
Non-recurring expenses5401,559
Share-based compensation expense1,742(3,074)
Loss on contingent earn-out—246
Foreign currency loss (gain)1,293(721)
(Loss) income before income taxes$(86,832)$3,109
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.