Perimeter Solutions, Inc.
ir.perimeter-solutions.comWhat Do They Do?
Sells firefighting products and related equipment and services to government agencies and commercial customers, plus specialty products to manufacturers.
10-K for FY2025, filed Feb 26, 2026The Fire Safety Segment includes the manufacture and sale of fire retardants and fire suppressants, together with related equipment and…View ↗
Our fire retardant customers are typically government agencies with responsibility for protecting both government and private land…View ↗
Our Specialty Products Segment develops, produces and markets products for non-fire safety markets. The Specialty Products Segment includes…View ↗
We completed the acquisition of MMT in January 2026, and we expect that MMT will be part of our Specialty Products Segment. MMT provides…View ↗
How Do They Make Money?
Customers pay for firefighting and specialty products when they ship or are delivered. Full-service air-base contracts also cover operations and maintenance, equipment leasing and expedited delivery over the service period; payment terms vary by contract.
10-K for FY2025, filed Feb 26, 2026shipped and control is transferred to the customer, typically when the product is consumed by the customer. The component of service…View ↗
Fire retardant, suppressant, and related equipment includes domestic and international sales of fire retardant and fire suppressant…View ↗
Payment terms vary by contract and sales to customers are deemed collectible at the time of sale based on customer history, prior credit…View ↗
$652.9M
-
10-K for FY2025, filed Feb 26, 2026
$652.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Revenues from products
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
83%
FY2022: 92%
|
Revenues from products, FY2025
$544.4M Sources
|
Sold outright |
|
Revenues from services
Recurring
10-K for FY2025, filed Feb 26, 2026 |
17%
FY2022: 7.4%
|
Revenues from services, FY2025
$108.3M Sources
|
Recurring |
|
Other revenues
|
<0.1%
FY2022: 0.9%
|
Other revenues, FY2025
$145K Sources
|
Who Are Their Customers?
Government agencies buy fire retardants; industrial, aviation and military customers buy firefighting foams. Specialty Products serves customers in chemical, industrial technology and medical-device markets.
10-K for FY2025, filed Feb 26, 2026Our fire retardant customers are typically government agencies with responsibility for protecting both government and private land…View ↗
Our Class B foam customers primarily consist of industrial, aviation, and military customers which store and utilize flammable liquids…View ↗
Our Specialty Products Segment serves several key global customers in the lubricant additives, agricultural, mineral extraction, emerging…View ↗
We completed the acquisition of MMT in January 2026, and we expect that MMT will be part of our Specialty Products Segment. MMT provides…View ↗
10-K for FY2025, filed Feb 26, 2026
The Company had two customers in the Fire Safety segment that accounted for 32% and 11%, respectively, of total net sales during the year…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $206.4M in FY2025, but brought in more cash than it spent: $208.6M of free cash flow.
10-K for FY2025, filed Feb 26, 2026
−$200.9MView ↗
10-K for FY2025, filed Feb 26, 2026
−$206.4MView ↗
10-K for FY2025, filed Feb 26, 2026
$208.6MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 31, 2026
−$181.6MView ↗
- ▲ +465% (Loss)
- vs −$32.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
-
Jul 31, 2026
Acquired Monaco Enterprises
Monaco provides life-safety and emergency-management systems for U.S. government facilities and was added to the Fire Safety segment.
Sources
8-K, filed Jul 31, 2026
Acquired Monaco Enterprises, a leading provider of proprietary, mission-critical life safety and emergency management systems for U.S.…View ↗
Expanded specialty offerings
The older report focused Specialty Products on phosphorus pentasulfide; the latest also includes electronic components and machinery, parts and services for medical-device makers.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 26, 2026In June 2022, the Oil Additives segment, which produces and sells P2S5, was renamed the Specialty Products segment to better reflect the…View ↗
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