$TH
Target Hospitality Corp.

2024 Q2 Form 10-Q Financial Statement

#000155837024007326 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $100.7M $106.7M
YoY Change -29.87% -27.84%
Cost Of Revenue $53.85M $57.60M
YoY Change -12.1% -12.53%
Gross Profit $46.87M $49.07M
YoY Change -43.1% -40.13%
Gross Profit Margin 46.53% 46.0%
Selling, General & Admin $13.46M $14.86M
YoY Change 0.0% -2.26%
% of Gross Profit 28.71% 30.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.71M $15.30M
YoY Change -14.29% -15.29%
% of Gross Profit 39.92% 31.19%
Operating Expenses $13.46M $14.86M
YoY Change 0.0% -2.26%
Operating Profit $29.55M $30.44M
YoY Change -54.37% -50.87%
Interest Expense -$4.273M -$4.587M
YoY Change -7.13% 21.12%
% of Operating Profit -14.46% -15.07%
Other Income/Expense, Net $0.00 $675.0K
YoY Change
Pretax Income $25.28M $26.53M
YoY Change -57.98% -52.67%
Income Tax $6.900M $6.100M
% Of Pretax Income 27.3% 23.0%
Net Earnings $18.39M $20.38M
YoY Change -60.42% -53.49%
Net Earnings / Revenue 18.25% 19.11%
Basic Earnings Per Share $0.18 $0.20
Diluted Earnings Per Share $0.18 $0.20
COMMON SHARES
Basic Shares Outstanding 100.3M 100.5M
Diluted Shares Outstanding 101.3M 102.4M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.3M $124.3M
YoY Change 121.76% 192.9%
Cash & Equivalents $154.3M $124.3M
Short-Term Investments
Other Short-Term Assets $5.797M $7.927M
YoY Change -16.47% 0.0%
Inventory
Prepaid Expenses
Receivables $48.74M $53.84M
Other Receivables $0.00 $0.00
Total Short-Term Assets $208.8M $186.1M
YoY Change 60.83% 80.38%
LONG-TERM ASSETS
Property, Plant & Equipment $336.4M $343.0M
YoY Change -8.13% -7.24%
Goodwill $41.04M $41.04M
YoY Change 0.0% 0.0%
Intangibles $59.55M $62.92M
YoY Change -18.45% -17.64%
Long-Term Investments
YoY Change
Other Assets $2.177M $234.0K
YoY Change 94.2% -85.01%
Total Long-Term Assets $488.2M $501.1M
YoY Change -8.94% -8.3%
TOTAL ASSETS
Total Short-Term Assets $208.8M $186.1M
Total Long-Term Assets $488.2M $501.1M
Total Assets $697.0M $687.2M
YoY Change 4.67% 5.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.54M $17.28M
YoY Change 1.7% -35.8%
Accrued Expenses $25.76M $35.93M
YoY Change -19.32% 23.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $179.2M $1.574M
YoY Change -13.61% -99.24%
Total Short-Term Liabilities $235.5M $66.82M
YoY Change -27.19% -81.76%
LONG-TERM LIABILITIES
Long-Term Debt $1.106M $178.6M
YoY Change -0.36% 15102.3%
Other Long-Term Liabilities $9.098M $12.72M
YoY Change 4898.9% 17570.83%
Total Long-Term Liabilities $10.20M $178.6M
YoY Change 5506.59% 247993.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $235.5M $66.82M
Total Long-Term Liabilities $10.20M $178.6M
Total Liabilities $299.9M $311.6M
YoY Change -20.17% -23.62%
SHAREHOLDERS EQUITY
Retained Earnings $299.9M $281.5M
YoY Change 68.77% 114.49%
Common Stock $10.00K $10.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $397.2M $375.5M
YoY Change
Total Liabilities & Shareholders Equity $697.0M $687.2M
YoY Change 4.67% 5.78%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $18.39M $20.38M
YoY Change -60.42% -53.49%
Depreciation, Depletion And Amortization $18.71M $15.30M
YoY Change -14.29% -15.29%
Cash From Operating Activities $39.11M $50.59M
YoY Change -29.85% 248.21%
INVESTING ACTIVITIES
Capital Expenditures $7.219M $8.960M
YoY Change 44.38% -51.83%
Acquisitions
YoY Change
Other Investing Activities $0.00 $42.00K
YoY Change -100.0% -100.95%
Cash From Investing Activities -$7.219M -$8.918M
YoY Change -64.52% -68.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.891M -21.30M
YoY Change -77.11% -83.01%
NET CHANGE
Cash From Operating Activities 39.11M 50.59M
Cash From Investing Activities -7.219M -8.918M
Cash From Financing Activities -1.891M -21.30M
Net Change In Cash 30.00M 20.37M
YoY Change 10.52% -114.63%
FREE CASH FLOW
Cash From Operating Activities $39.11M $50.59M
Capital Expenditures $7.219M $8.960M
Free Cash Flow $31.89M $41.63M
YoY Change -37.17% -1122.62%

Facts In Submission

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CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1090000
CY2024Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
417000
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
193000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-675000
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3711000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2748000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5646000
CY2024Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
42000
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
104000
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2128000
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-874000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7888000
CY2024Q1 th Provision For Doubtful Accounts Net Of Recoveries
ProvisionForDoubtfulAccountsNetOfRecoveries
43000
CY2023Q1 th Provision For Doubtful Accounts Net Of Recoveries
ProvisionForDoubtfulAccountsNetOfRecoveries
99000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-13253000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11005000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1551000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4629000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3354000
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-407000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-323000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
50591000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14529000
CY2024Q1 th Payments To Acquire Specialty Rental Assets
PaymentsToAcquireSpecialtyRentalAssets
8825000
CY2023Q1 th Payments To Acquire Specialty Rental Assets
PaymentsToAcquireSpecialtyRentalAssets
23002000
CY2024Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
135000
CY2023Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1015000
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
4547000
CY2024Q1 th Proceeds From Sale Of Property Subject To Operating Lease
ProceedsFromSaleOfPropertySubjectToOperatingLease
42000
CY2023Q1 th Proceeds From Sale Of Property Subject To Operating Lease
ProceedsFromSaleOfPropertySubjectToOperatingLease
119000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8918000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-28445000
CY2024Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
407000
CY2023Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
356000
CY2023Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
125000000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21160000
CY2024Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3000
CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
42000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
268000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1252000
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1263000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21296000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-125325000
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
20373000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-139235000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103929000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
181673000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
124302000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42438000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7243000
CY2024Q1 th Non Cash Change In Accrued Excise Tax On Repurchase Of Common Stock
NonCashChangeInAccruedExciseTaxOnRepurchaseOfCommonStock
-211000
CY2024Q1 th Non Cash Change In Accrual Of Tax Withholding Share Based Payment Arrangement
NonCashChangeInAccrualOfTaxWithholdingShareBasedPaymentArrangement
-2615000
CY2023Q1 th Non Cash Change In Accrual Of Tax Withholding Share Based Payment Arrangement
NonCashChangeInAccrualOfTaxWithholdingShareBasedPaymentArrangement
-6177000
CY2024Q1 th Non Cash Change In Capital Lease Obligation
NonCashChangeInCapitalLeaseObligation
-858000
CY2023Q1 th Non Cash Change In Capital Lease Obligation
NonCashChangeInCapitalLeaseObligation
-562000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with US GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. If the underlying estimates and assumptions upon which the financial statements are based change in future periods, actual amounts may differ from those included in the accompanying unaudited consolidated financial statements.</p>
CY2024Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.80
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
72400000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
94800000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
72398000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
94836000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5469000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
125519000
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-448000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-34985000
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5021000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
90534000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
86218000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
21931000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14328000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
122477000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
420052000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
405782000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
342985000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
349064000
CY2024Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
43414000
CY2023Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
42421000
CY2024Q1 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
8312000
CY2023Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
7790000
CY2024Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
35102000
CY2023Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
34631000
CY2022Q4 us-gaap Goodwill
Goodwill
41038000
CY2023Q4 us-gaap Goodwill
Goodwill
41038000
CY2024Q1 us-gaap Goodwill
Goodwill
41038000
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
133454000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
86935000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46519000
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
149854000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
86935000
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
62919000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
133454000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
83572000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49882000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
149854000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
83572000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
66282000
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3400000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
10112000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
13475000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12879000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8270000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
778000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1005000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46519000
CY2024Q1 th Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
7434000
CY2023Q4 th Other Assets Noncurrent Gross
OtherAssetsNoncurrentGross
7428000
CY2024Q1 th Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
7200000
CY2023Q4 th Other Assets Noncurrent Accumulated Amortization
OtherAssetsNoncurrentAccumulatedAmortization
6767000
CY2024Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
234000
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
661000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7221000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9583000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27678000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20656000
CY2024Q1 th Debt Accrued Interest Current
DebtAccruedInterestCurrent
1033000
CY2023Q4 th Debt Accrued Interest Current
DebtAccruedInterestCurrent
3413000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
35932000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
33652000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2202000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
617000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
178627000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
2800000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2400000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
2844000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2393000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2202000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2619000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
617000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
734000
CY2024Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
181471000
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
180486000
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1574000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1369000
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
179897000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
179117000
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
66000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
41000
CY2024Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
5042000
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
7470000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
268000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1090000
CY2024Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
417000
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
193000
CY2024Q1 us-gaap Interest Income Operating
InterestIncomeOperating
1206000
CY2023Q1 us-gaap Interest Income Operating
InterestIncomeOperating
1296000
CY2024Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4587000
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7498000
CY2024Q1 th Long Term Debt And Finance Lease Obligations Repayments Of Principal In Remainder Of Fiscal Year
LongTermDebtAndFinanceLeaseObligationsRepaymentsOfPrincipalInRemainderOfFiscalYear
1292000
CY2024Q1 th Long Term Debt And Finance Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndFinanceLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
182472000
CY2024Q1 th Long Term Debt And Finance Lease Obligations Repayments Of Principal In Year Two
LongTermDebtAndFinanceLeaseObligationsRepaymentsOfPrincipalInYearTwo
466000
CY2024Q1 th Long Term Debt And Finance Lease Obligations Repayments Of Principal In Year Three
LongTermDebtAndFinanceLeaseObligationsRepaymentsOfPrincipalInYearThree
60000
CY2024Q1 th Long Term Debt And Finance Lease Obligations Repayments Of Principal
LongTermDebtAndFinanceLeaseObligationsRepaymentsOfPrincipal
184290000
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
675000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6100000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12200000
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.218
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q3 th Non Deductible Excise Tax Percent
NonDeductibleExciseTaxPercent
0.01
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20383000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
43825000
CY2023Q1 us-gaap Dilutive Securities
DilutiveSecurities
-3711000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
20383000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
40114000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100657706
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100643271
CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2264522
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102362542
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106257448
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
111810528
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
111091266
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
100105423
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101660601
CY2024Q1 th Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2023 th Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2274440
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21200000
CY2024Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
78800000
CY2024Q1 th Defined Contribution Plan Minimum Annual Contributions Per Employee Percent
DefinedContributionPlanMinimumAnnualContributionsPerEmployeePercent
0.01
CY2024Q1 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.90
CY2024Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.05
CY2024Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2024Q1 th Defined Contribution Plan Employer Matching Contribution Percent Level One
DefinedContributionPlanEmployerMatchingContributionPercentLevelOne
0.03
CY2024Q1 th Defined Contribution Plan Employer Match Percent Level Two
DefinedContributionPlanEmployerMatchPercentLevelTwo
0.50
CY2024Q1 th Defined Contribution Plan Employer Matching Contribution Percent Level Two
DefinedContributionPlanEmployerMatchingContributionPercentLevelTwo
0.02
CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q1 th Adjusted Gross Profit
AdjustedGrossProfit
65275000
CY2023Q1 th Adjusted Gross Profit
AdjustedGrossProfit
100430000
CY2024Q1 th Adjusted Gross Profit Other
AdjustedGrossProfitOther
-1426000
CY2023Q1 th Adjusted Gross Profit Other
AdjustedGrossProfitOther
-870000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
18666000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
21400000
CY2024Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14855000
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15199000
CY2024Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
110000
CY2023Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-1004000
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2128000
CY2024Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4587000
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-7498000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-675000
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3711000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26526000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
56042000
CY2024Q1 us-gaap Assets
Assets
687169000
CY2023Q4 us-gaap Assets
Assets
694353000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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0001558370-24-007326.txt Edgar Link pending
0001558370-24-007326-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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