v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 8,348 $ 190,668
Accounts receivable, less allowance for credit losses of $232 and $534, respectively 56,200 49,342
Prepaid expenses and other assets 8,790 9,326
Total current assets 73,338 249,336
Specialty rental assets, net 332,406 320,852
Other property, plant and equipment, net 35,754 34,935
Operating lease right-of-use assets, net 6,544 24,935
Goodwill 41,038 41,038
Other intangible assets, net 39,332 52,807
Deferred financing costs revolver, net 1,793 1,871
Total assets 530,205 725,774
Current liabilities:    
Accounts payable 44,393 16,187
Accrued liabilities 22,475 25,782
Deferred revenue and customer deposits 9,282 699
Current portion of operating lease obligations 5,807 8,548
Current portion of finance lease and other financing obligations (Note 7) 2,086 1,860
Current portion of long-term debt, net (Note 7)   180,328
Total current liabilities 84,043 233,404
Other liabilities:    
Long-term finance lease and other financing obligations 1,675 1,451
Long-term operating lease obligations 1,128 17,459
Deferred revenue and customer deposits 9,292 536
Deferred tax liability 42,312 49,271
Asset retirement obligations 2,695 2,563
Total liabilities 141,145 304,684
Commitments and contingencies (Note 11)
Stockholders' equity:    
Common Stock, $0.0001 par, 400,000,000 authorized, 113,094,172 issued and 99,797,242 outstanding as of December 31, 2025 and 112,248,984 issued and 98,952,054 outstanding as of December 31, 2024. 10 10
Common Stock in treasury at cost, 13,296,930 shares as of December 31, 2025 and 13,296,930 shares as of December 31, 2024. (57,304) (57,304)
Additional paid-in-capital 154,090 148,780
Accumulated other comprehensive loss (2,798) (2,785)
Accumulated earnings 295,259 332,380
Total stockholders' equity attributable to Target Hospitality Corp. stockholders 389,257 421,081
Noncontrolling interest in consolidated subsidiaries (197) 9
Total stockholders' equity 389,060 421,090
Total liabilities and stockholders' equity $ 530,205 $ 725,774