Csquare, Inc.
For the period ended Sep 30, 2026. Filed Nov 10, 2026.
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, 2026 · Filed Nov 10, 2026
CSQR$17.52+14.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025
Unaudited Condensed Consolidated Balance Sheets
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $34,743 | $140,159 |
| Restricted cash | 209,282 | 263,257 |
| Due from related parties | 7,557 | 144,451 |
| Accounts receivable, net of allowance for expected credit losses of $5,777 and $2,643 as of September 30, 2026 and December 31, 2025, respectively | 162,690 | 90,708 |
| Prepaid assets | 12,517 | 7,013 |
| Other current assets | 74,089 | 73,307 |
| Current assets held for sale | 30,165 | — |
| Total current assets | 531,043 | 718,895 |
| Property and equipment, net | 4,165,581 | 3,951,089 |
| Right-of-use assets | 301,455 | 355,237 |
| Goodwill | 503,529 | 541,493 |
| Intangible assets, net | 390,881 | 436,299 |
| Other assets | 139,716 | 91,410 |
| Total assets | $6,032,205 | $6,094,423 |
| Liabilities and stockholders'/member's equity (deficit) | ||
| Current liabilities: | ||
| Accounts payable | 72,705 | $34,477 |
| Accrued expenses | 126,181 | 128,606 |
| Due to related parties | 8,821 | — |
| Contract liabilities, current | 111,140 | 96,358 |
| Operating lease liabilities, current | 40,584 | 41,755 |
| Finance lease liabilities, current | 11,384 | 15,020 |
| Current liabilities held for sale | 19,596 | — |
| Total current liabilities | 390,411 | 316,216 |
| Contract liabilities, net of current portion | 228,146 | 122,762 |
| Long-term debt, net of deferred financing costs | 3,842,667 | 4,755,553 |
| Operating lease liabilities, net of current portion | 290,511 | 391,577 |
| Finance lease liabilities, net of current portion | 421,842 | 428,364 |
| Deferred tax liabilities | 121,148 | 165,600 |
| Other liabilities, non-current | 40,219 | 41,097 |
| Total liabilities | 5,334,944 | 6,221,169 |
| Commitments and contingencies (Note 14) | ||
| Stockholders'/member's equity (deficit): | ||
| Member's interest, 150,000 common shares authorized, 103,887 issued and outstanding as of December 31, 2025 | — | 1,094,620 |
| Common stock, 1,490,000 common shares authorized, 166,634 issued and outstanding as of September 30, 2026 | 1,666 | — |
| Preferred stock, 10,000 preferred shares authorized, no shares issued and outstanding as of September 30, 2026 | — | — |
| Additional paid-in capital | 2,268,253 | — |
| Accumulated deficit | (1,558,042) | (1,225,641) |
| Accumulated other comprehensive (loss) income | (14,616) | 4,275 |
| Total stockholders'/member's equity (deficit) | 697,261 | (126,746) |
| Total liabilities and stockholders'/member's equity (deficit) | $6,032,205 | $6,094,423 |
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues | $302,332 | $240,758 | $853,145 | $718,268 |
| Costs and operating expenses: | ||||
| Cost of revenues, excluding depreciation and amortization | 141,995 | 129,230 | 411,655 | 375,368 |
| Selling, marketing, general and administrative | 85,622 | 19,962 | 146,514 | 65,610 |
| Depreciation and amortization | 84,907 | 63,053 | 258,986 | 190,937 |
| Gain on lease modification | — | — | (40,043) | (51) |
| Transaction and other costs | 4,453 | 2,116 | 18,235 | 6,700 |
| Total costs and operating expenses | 316,977 | 214,361 | 795,347 | 638,564 |
| Income (Loss) from operations | (14,645) | 26,397 | 57,798 | 79,704 |
| Interest expense | (71,448) | (59,668) | (252,637) | (165,787) |
| Loss on extinguishment of debt | (6,833) | (1,568) | (6,833) | (6,881) |
| Other income (loss), net | 4,791 | 472 | (762) | 2,097 |
| Loss before income taxes | (88,135) | (34,367) | (202,434) | (90,867) |
| Income tax (expense) benefit | (14) | 4,556 | (495) | 12,213 |
| Net loss | $(88,149) | $(29,811) | $(202,929) | $(78,654) |
| Net loss per share: | ||||
| Basic and diluted | $(0.58) | $(0.29) | $(1.70) | $(0.76) |
| Weighted average common shares outstanding: | ||||
| Basic and diluted | 151,369 | 103,887 | 119,674 | 103,887 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.