v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 119,705 $ 96,585
Related party notes receivable—current 4,357 3,653
Contract assets 104,622 114,918
Inventories, net 252,192 253,759
Other current receivables 22,500 17,854
Prepaids and other current assets 18,828 32,882
Total current assets 648,908 629,210
Property, plant and equipment, net of accumulated depreciation of $76,391 and $67,372, respectively 197,673 200,818
Goodwill 307,954 307,014
Related party note receivable 22,656 33,604
Right-of-use assets 45,834 48,739
Other assets 24,138 16,249
Total assets 1,362,565 1,357,704
Current liabilities    
Current portion of long-term debt, net 1,473 715
Contract liabilities 42,780 35,249
Accrued expenses 84,964 95,780
Other current liabilities 24,648 35,582
Total current liabilities 218,317 223,639
Non-current operating lease liabilities 40,469 39,922
Other liabilities 61,017 54,323
Total liabilities 516,166 657,252
Equity    
Members’ equity   698,613
Additional paid-in capital 185,133  
Retained earnings 27,566  
Accumulated other comprehensive income (loss) 2,011  
Class A common stock held in treasury (254,232 shares as of June 30, 2026) (4,888)  
HMH Holding Inc. equity 210,261  
Non-controlling interests   1,839
Non-controlling interests 636,138  
Total equity   700,452
Total equity 846,399 700,452
Total liabilities and shareholders’ equity 1,362,565 1,357,704
Customer relationships    
Current assets    
Customer relationships, net of accumulated amortization of $50,254 and $46,299, respectively 63,338 67,224
Other intangible assets    
Current assets    
Customer relationships, net of accumulated amortization of $50,254 and $46,299, respectively 52,064 54,846
Nonrelated Party    
Current assets    
Accounts receivable 125,099 108,060
Current liabilities    
Accounts payable 64,439 56,206
Long-term debt, net 196,363 195,636
Related Party    
Current assets    
Accounts receivable 1,605 1,499
Related party notes receivable—current 4,357 3,653
Related party note receivable 22,656 33,604
Current liabilities    
Accounts payable 13 107
Long-term debt, net 0 143,732
Other liabilities 8,291 $ 8,291
Class A Common Stock    
Equity    
Common stock, value, issued 120  
Class B Common Stock    
Equity    
Common stock, value, issued $ 319