Perimeter Group Inc.

For the period ended Sep 30, 2026. Filed Nov 5, 2026.

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.

Sep 30, 2026 · Filed Nov 5, 2026

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

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Contents

15. Segment Information

SEGMENT INFORMATION

The Company’s products and operations are managed and reported intwo operating segments: Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants, fire suppressants and fire safety systems, as well as specialized equipment and services typically offered in conjunction with its products. The Specialty Products segment includes operations that develop, produce and market products for non-fire safety markets.

The chief operating decision-maker (“CODM”) is the Company’s CEO. The CODM uses Segment Adjusted EBITDA for each segment predominantly in the annual budget and forecasting process. The CODM considers budget/forecast-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources to each segment.

Segment Adjusted EBITDA is defined as income (loss) before income taxes plus net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recurring, unusual or non-operational items. These items include (i) restructuring, (ii) acquisition related costs, (iii) founder advisory fee expenses, (iv) stock-based compensation expense, (v) purchase accounting impact - inventory step up and (vi) foreign currency loss (gain).

Interest income, interest expense, other income (expense) and certain corporate operating expenses are not included in the measures of segment performance reviewed by the CODM. The corporate category is not considered to be a segment.

Information related to net sales, Segment Adjusted EBITDA, depreciation and amortization, purchases of property and equipment, and purchases of intangible assets are summarized below:

	Three Months Ended September 30, 2026
In Thousands · Fire Safety · Specialty Products · Total
Net sales:
Product	$249,771	$76,911		$326,682
Services and others	62,774	409		63,183
Total net sales	$312,545	$77,320		$389,865
Less:
Adjusted cost of goods sold	$100,871	$42,064		$142,935
Adjusted selling, general and administrative expense	10,039	13,354		23,393
Segment Adjusted EBITDA	$201,635	$21,902		$223,537
Less:
Depreciation and amortization			30,130
Interest and financing expense			20,369
Founders advisory fees - related party			(239,469)
Non-recurring expenses			2,781
Acquisition costs			5,965
Stock-based compensation expense			4,382
Purchase accounting impact - inventory step up			3,676
Foreign currency loss			294
Income before income taxes			$395,409
Depreciation and amortization	$15,072	$15,058		$30,130
Purchases of property and equipment	$7,379	$5,295		$12,674

	Three Months Ended September 30, 2025
In Thousands · Fire Safety · Specialty Products · Total
Net sales:
Product	$216,248	$42,055		$258,303
Services and others	57,136	4		57,140
Total net sales	$273,384	$42,059		$315,443
Less:
Adjusted cost of goods sold	$84,748	$28,084		$112,832
Adjusted selling, general and administrative expense	11,426	4,868		16,294
Segment Adjusted EBITDA	$177,210	$9,107		$186,317
Less:
Depreciation and amortization			18,793
Interest and financing expense			9,870
Founders advisory fees - related party			247,684
Non-recurring expenses			562
Acquisition costs			33
Stock-based compensation expense			6,519
Foreign currency loss			6
Loss before income taxes			$(97,150)
Depreciation and amortization	$14,433	$4,360		$18,793
Purchases of property and equipment	$1,724	$3,298		$5,022

	Nine Months Ended September 30, 2026
In Thousands · Fire Safety · Specialty Products · Total
Net sales:
Product	$386,823	$240,992		$627,815
Services and others	100,259	670		100,929
Total net sales	$487,082	$241,662		$728,744
Less:
Adjusted cost of goods sold	$161,955	$132,635		$294,590
Adjusted selling, general and administrative expense	26,042	37,826		63,868
Segment Adjusted EBITDA	$299,085	$71,201		$370,286
Less:
Depreciation and amortization			86,177
Interest and financing expense			64,318
Founders advisory fees - related party			(49,592)
Non-recurring expenses			5,715
Acquisition costs			18,491
Stock-based compensation expense			9,872
Purchase accounting impact - inventory step up			13,746
Foreign currency gain			(2,260)
Income before income taxes			$223,819
Depreciation and amortization	$43,822	$42,355		$86,177
Purchases of property and equipment	$17,706	$13,494		$31,200

	Nine Months Ended September 30, 2025
In Thousands · Fire Safety · Specialty Products · Total
Net sales:
Product	$338,823	$118,969		$457,792
Services and others	92,008	312		92,320
Total net sales	$430,831	$119,281		$550,112
Less:
Adjusted cost of goods sold	$136,962	$75,071		$212,033
Adjusted selling, general and administrative expense	28,915	13,426		42,341
Segment Adjusted EBITDA	$264,954	$30,784		$295,738
Less:
Depreciation and amortization			53,610
Interest and financing expense			29,444
Founders advisory fees - related party			263,954
Non-recurring expenses			1,508
Acquisition costs			862
Stock-based compensation expense			11,428
Foreign currency gain			(3,249)
Loss before income taxes			$(61,819)
Depreciation and amortization	$40,818	$12,792		$53,610
Purchases of property and equipment	$15,395	$7,204		$22,599
Purchase of intangible assets	$15,226	$—		$15,226

Total segment assets reconciled to consolidated amounts are as follows:

	September 30, 2026
In Thousands · Fire Safety · Specialty Products · Total
Segment assets	$306,756		$287,940	$594,696
Cash and cash equivalents		115,911
Goodwill		1,431,253
Intangible assets, net		1,246,509
Tax assets		7,331
Total consolidated assets			$3,395,700

	December 31, 2025
In Thousands · Fire Safety · Specialty Products · Total
Segment assets	$191,016		$148,192	$339,208
Cash and cash equivalents		325,927
Goodwill		1,065,211
Intangible assets, net		899,323
Tax assets		23,338
Total consolidated assets			$2,653,007

Net sales by geographical area are as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
United States	79%	83%	73%	77%
Other international sales (1)	21%	17%	27%	23%
Total net sales	100%	100%	100%	100%

(1) The Company did not have net sales in excess of 10% in any other countries for the three and nine months ended September 30, 2026 and 2025.

Property, plant and equipment, net by geographical area consisted of the following:

In Thousands	September 30, 2026	December 31, 2025
United States	$95,318	$65,565
Germany	12,846	13,392
Other foreign jurisdictions	8,518	6,181
Total property, plant and equipment, net	$116,682	$85,138

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