v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,461 $ 8,348
Accounts receivable, less allowance for credit losses of $312 and $232, respectively 45,634 56,200
Prepaid expenses and other assets 7,511 8,790
Total current assets 58,606 73,338
Specialty rental assets, net 354,685 332,406
Other property, plant and equipment, net 35,573 35,754
Operating lease right-of-use assets, net 5,204 6,544
Goodwill 41,038 41,038
Other intangible assets, net 35,969 39,332
Deferred financing costs revolver, net 1,581 1,793
Other non-current assets 6,884  
Total assets 539,540 530,205
Current liabilities:    
Accounts payable 33,041 44,393
Accrued liabilities 18,345 22,475
Deferred revenue and customer deposits 10,985 9,282
Current portion of operating lease obligations 4,774 5,807
Current portion of finance lease and other financing obligations (Note 8) 2,081 2,086
Total current liabilities 69,226 84,043
Other liabilities:    
Revolving credit facility (Note 8) 30,000  
Long-term finance lease and other financing obligations 1,469 1,675
Long-term operating lease obligations 669 1,128
Deferred revenue and customer deposits 18,769 9,292
Deferred tax liability 40,056 42,312
Asset retirement obligations 2,729 2,695
Total liabilities 162,918 141,145
Commitments and contingencies (Note 12)
Stockholders' equity:    
Common Stock, $0.0001 par, 400,000,000 authorized, 113,450,927 issued and 100,153,997 outstanding as of March 31, 2026 and 113,094,172 issued and 99,797,242 outstanding as of December 31, 2025. 10 10
Common Stock in treasury at cost, 13,296,930 shares as of March 31, 2026 and 13,296,930 shares as of December 31, 2025. (57,304) (57,304)
Additional paid-in-capital 154,702 154,090
Accumulated other comprehensive loss (2,824) (2,798)
Accumulated earnings 282,340 295,259
Total stockholders' equity attributable to Target Hospitality Corp. stockholders 376,924 389,257
Noncontrolling interest in consolidated subsidiaries (302) (197)
Total stockholders' equity 376,622 389,060
Total liabilities and stockholders' equity $ 539,540 $ 530,205