Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 62

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 62
---
,754

    13

    (13
    )

    —

    —

    —

    Tax withholding on option exercises
     
    (2,998,694
    )

    (29
    )

    (19,306
    )

    —

    —

    (19,335
    )

    Exercise of stock options
     
    9,671,863

    97

    4,042

    —

    —

    4,139

    Net income
     
    —

    —

    —

    —

    70,239

    70,239

    Balance as of December 31, 2024
     
    323,693,863

    $
    3,242

    $
    830,264

    $
    —

    $
    164,846

    $
    998,352

See accompanying notes to consolidated financial statements.

39 

Mister Car Wash, Inc.

Notes to Consolidated Financial Statements

(Dollar amounts in thousands, except per share data)

1. Nature of BusinessMister Car Wash, Inc., a Delaware corporation, together with its subsidiaries (collectively, “we,” “us,” “our” or the “Company”), is based in Tucson, Arizona and is a provider of conveyorized car wash services. As of December 31, 2024, we operated 514 car washes in 21 states. As of December 31, 2023, we operated 476 car washes in 21 states.

2. Summary of Significant Accounting PoliciesPrinciples of ConsolidationThe accompanying consolidated financial statements include the accounts of the Company. All material intercompany balances and transactions have been eliminated in consolidation.ReclassificationWithin the consolidated financial statements certain immaterial amounts have been reclassified to conform with current presentation. We reclassified Restricted cash of $72 from an individual line item on the consolidated balance sheets at December 31, 2023, to Prepaid expenses and other current assets to conform with the current period presentation.Use of EstimatesThe preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of revenue and expenses during the periods reported. Some of the significant estimates that we have made pertain to the determination of deferred