Target Hospitality Corp.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue:
Gross profit $53.0m $90.2m $147.0m $57.2m $101.3m $247.1m $313.3m $178.2m $42.7m
Selling, general and administrative $24.3m $41.3m $76.5m $38.1m $46.5m $57.9m $56.1m $54.3m $58.5m
Operating income (loss) $21.5m $40.9m $48.2m $4.1m $37.1m $174.4m $240.6m $108.8m ($34.7m)
Specialty rental income $53.7m $59.8m $53.0m $76.9m $168.3m $198.0m $120.4m $45.8m
Depreciation of specialty rental assets $24.5m $31.6m $43.4m $50.0m $53.6m $52.8m $68.6m $57.2m $57.2m
Other depreciation and amortization $5.7m $7.5m $15.5m $15.6m $16.9m $14.8m $15.4m $15.6m $16.2m
Loss on extinguishment of debt $0 $907k $0 $0 $0 $2.3m $0 $2.4m
Change in fair value of warrant liabilities ($5.9m) ($2.3m) $1.1m $31.7m ($9.1m) ($675k) $0
Income (loss) before income tax $26.6m $16.7m $13.8m ($35.9m) ($2.7m) $106.3m $224.8m $92.8m ($43.2m)
Foreign currency translation $618k ($841k) ($95k) $124k ($28k) ($112k) ($64k) ($147k) ($13k)
Comprehensive income (loss) $1.6m $4.1m $6.1m ($27.4m) ($4.6m) $73.8m $173.6m $71.3m ($37.1m)
Net income (loss) $981k $4.0m $6.2m ($27.5m) ($4.6m) $73.9m $173.7m $71.4m ($37.1m)
Net income (loss) attributable to Target Hospitality Corp. common stockholders $981k $5.0m $6.2m ($27.5m) ($4.6m) $73.9m $173.7m $71.3m ($37.1m)
Net income (loss) attributable to Target Hospitality Corp. common stockholders - diluted $981k $4.0m $6.2m ($27.5m) ($4.6m) $73.9m $164.6m $71.3m ($37.1m)
Net income (loss) per share attributable to Target Hospitality Corp. common stockholders - basic $0 $0 $0 ($0) ($0) $1 $2 $1 ($0)
Net income (loss) per share attributable to Target Hospitality Corp. common stockholders - diluted $0 $0 $0 ($0) ($0) $1 $2 $1 ($0)
Less: Net income attributable to the noncontrolling interest $142k $44k
Weighted average number shares outstanding - basic (in shares) 94.5m 96.0m 96.6m 97.2m 101.4m 100.1m 99.5m
Weighted average number shares outstanding - diluted (in shares) 94.5m 96.0m 96.6m 100.1m 105.3m 101.4m 99.5m
Costs $56.7m $103.4m $130.7m $118.0m $136.4m $202.0m $181.7m $150.9m $290.4m
Other (income) expense, net ($519k) ($8.3m) $6.9m ($723k) $880k $36k $1.2m ($502k) $2.7m
Interest expense, net ($5.1m) $24.2m $33.4m $40.0m $38.7m $36.3m $22.6m $16.6m $6.1m
Income tax expense (benefit) $25.6m $11.8m $7.6m ($8.5m) $1.9m $32.4m $51.0m $21.4m ($6.1m)