Company: TH
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001104659-25-107639
Chunk: 1

Company: Target Hospitality Corp.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1F
Chunk 1
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Item 1. Financial Statements

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Target Hospitality Corp.

Consolidated Balance Sheets

($ in thousands)

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​​​​​​​​​September 30, ​December 31, ​    2025    2024Assets ​ ​​Current assets: ​   ​  Cash and cash equivalents​$ 30,387​$ 190,668Accounts receivable, less allowance for credit losses of $702 and $534, respectively​  42,734​  49,342Prepaid expenses and other assets​  6,323​  9,326Total current assets​  79,444​  249,336​​​​​​​Specialty rental assets, net​  331,694​  320,852Other property, plant and equipment, net​  36,324​  34,935Operating lease right-of-use assets, net​​ 8,534​​ 24,935Goodwill​  41,038​  41,038Other intangible assets, net​  42,704​  52,807Deferred financing costs revolver, net​  1,417​  1,871Total assets​$ 541,155​$ 725,774​​​​​​​Liabilities​   ​   Current liabilities:​   ​   Accounts payable​$ 45,812​$ 16,187Accrued liabilities​  17,542​  25,782Deferred revenue and customer deposits​  9,434​  699Current portion of operating lease obligations​​ 7,411​​ 8,548Current portion of finance lease and other financing obligations (Note 7)​  2,221​  1,860Current portion of long-term debt, net (Note 7)​​ —​​ 180,328Total current liabilities​  82,420​  233,404​​​​​​​Other liabilities:​   ​   Long-term finance lease and other financing obligations​​ 2,016​​ 1,451Long-term operating lease obligations​​ 1,635​​ 17,459Deferred revenue and customer deposits​  5,534​  536Deferred tax liability​​ 44,643​​ 49,271Asset retirement obligations​  2,661​  2,563Total liabilities​  138,909​  304,684