Company: TH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001558370-25-010732
Chunk: 1

Company: Target Hospitality Corp.
Filing Date: 2025-08-07
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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​​​​​​​​​June 30, ​December 31, ​    2025    2024Assets ​ ​​Current assets: ​   ​  Cash and cash equivalents​$ 19,237​$ 190,668Accounts receivable, less allowance for credit losses of $546 and $534, respectively​  57,435​  49,342Prepaid expenses and other assets​  6,375​  9,326Total current assets​  83,047​  249,336​​​​​​​Specialty rental assets, net​  317,375​  320,852Other property, plant and equipment, net​  36,889​  34,935Operating lease right-of-use assets, net​​ 7,719​​ 24,935Goodwill​  41,038​  41,038Other intangible assets, net​  46,076​  52,807Deferred financing costs revolver, net​  1,570​  1,871Total assets​$ 533,714​$ 725,774​​​​​​​Liabilities​   ​   Current liabilities:​   ​   Accounts payable​$ 21,426​$ 16,187Accrued liabilities​  17,168​  25,782Deferred revenue and customer deposits​  8,508​  699Current portion of operating lease obligations​​ 7,106​​ 8,548Current portion of finance lease and other financing obligations (Note 7)​  2,411​  1,860Current portion of long-term debt, net (Note 7)​​ —​​ 180,328Total current liabilities​  56,619​  233,404​​​​​​​Other liabilities:​   ​   Revolving credit facility (Note 7)​​ 24,000​​ —Long-term finance lease and other financing obligations​​ 2,343​​ 1,451Long-term operating lease obligations​​ 1,976​​ 17,459Deferred revenue and customer deposits​  536​  536Deferred tax liability​​ 44,427​​ 49,271Asset retirement obligations​  2,628​  2,