Perimeter Solutions SA
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout 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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
3. Balance Sheet Components
- BALANCE SHEET COMPONENTS
Details of certain balance sheet items are presented below (in thousands):
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Inventories: | ||
| Raw materials and manufacturing supplies | $55,163 | $77,657 |
| Work in process | 264 | 224 |
| Finished goods | 52,939 | 67,771 |
| Total inventories | $108,366 | $145,652 |
| Prepaid Expenses and Other Current Assets: | ||
| Advance to vendors | $2,897 | $3,197 |
| Prepaid insurance | 917 | 5,567 |
| Prepaid value-added taxes | 1,868 | 897 |
| Short-term investments | — | 5,519 |
| Income tax receivable | — | 1,714 |
| Other | 4,050 | 1,599 |
| Total prepaid expenses and other current assets | $9,732 | $18,493 |
| Property, Plant and Equipment: | ||
| Buildings | $4,004 | $3,986 |
| Leasehold improvements | 2,820 | 2,743 |
| Furniture and fixtures | 521 | 516 |
| Machinery and equipment | 70,179 | 63,202 |
| Vehicles | 4,095 | 4,114 |
| Construction in progress | 6,836 | 4,695 |
| Total property, plant and equipment, gross | 88,455 | 79,256 |
| Less: Accumulated depreciation | (26,903) | (19,854) |
| Total property, plant and equipment, net | $61,552 | $59,402 |
| Accrued Expenses and Other Current Liabilities: | ||
| Accrued bonus | $5,508 | $3,483 |
| Accrued salaries | 2,344 | 2,336 |
| Accrued employee benefits | 1,426 | 1,185 |
| Accrued interest | 16,179 | 8,342 |
| Accrued purchases | 4,414 | 2,072 |
| Accrued income taxes | 27,915 | 7,100 |
| Operating lease liabilities | 2,259 | 2,146 |
| Finance lease liabilities | 752 | 600 |
| Other | 4,243 | 3,446 |
| Total accrued expenses and other current liabilities | $65,040 | $30,710 |
Depreciation expense related to property, plant and equipment was$2.7 million and $7.9 million for the three and nine months ended September 30, 2024, respectively, and$2.5 million and$7.2 million for the three and nine months ended September 30, 2023, respectively, substantially all of which was presented in cost of goods sold in the accompanying condensed consolidated statements of operations and comprehensive (loss) income.
The Company had an allowance for doubtful accounts, included in accounts receivable, net of$1.1 million and $1.0 millionas of September 30, 2024 and December 31, 2023, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.