Company: TH
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001558370-25-007977
Chunk: 1

Company: Target Hospitality Corp.
Filing Date: 2025-05-19
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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​​​​​​​​​March 31, ​December 31, ​    2025    2024Assets ​ ​​Current assets: ​   ​  Cash and cash equivalents​$ 34,468​$ 190,668Accounts receivable, less allowance for credit losses of $551 and $534, respectively​  56,949​  49,342Prepaid expenses and other assets​  8,172​  9,326Total current assets​  99,589​  249,336​​​​​​​Specialty rental assets, net​  326,129​  320,852Other property, plant and equipment, net​  36,432​  34,935Operating lease right-of-use assets, net​​ 8,166​​ 24,935Goodwill​  41,038​  41,038Other intangible assets, net​  49,444​  52,807Deferred financing costs revolver, net​  1,722​  1,871Total assets​$ 562,520​$ 725,774​​​​​​​Liabilities​   ​   Current liabilities:​   ​   Accounts payable​$ 23,126​$ 16,187Accrued liabilities​  17,444​  25,782Deferred revenue and customer deposits​  1,010​  699Current portion of operating lease obligations​​ 6,682​​ 8,548Current portion of finance lease and other financing obligations (Note 7)​  2,250​  1,860Current portion of long-term debt, net (Note 7)​​ —​​ 180,328Total current liabilities​  50,512​  233,404​​​​​​​Other liabilities:​   ​   Revolving credit facility (Note 7)​​ 40,900​​ —Long-term finance lease and other financing obligations​​ 2,043​​ 1,451Long-term operating lease obligations​​ 2,880​​ 17,459Other non-current liabilities​​ 44​​ —Deferred revenue and customer deposits​  536​  536Deferred tax liability​​ 47,742​​ 49,271Asset retirement obligations​