TH · XBRL financial data

Target Hospitality financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (TH's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	225,148	291,337	501,985	563,608	386,272	320,635
Revenue from contracts with customers	172,189	214,427	333,700	365,627	265,912	274,828
Gross profit	57,155	101,350	247,128	313,324	178,179	42,659
Selling, general and administrative	38,128	46,461	57,893	56,126	54,258	58,508
Other operating income (expense)	723	(880)	(36)	(1,241)	502	(2,694)
Operating income (loss)	4,101	37,099	174,367	240,606	108,781	(34,747)
Income tax expense (benefit)	(8,455)	1,904	32,370	51,050	21,430	(6,126)
Net income (loss)	(25,131)	(4,576)	73,939	173,700	71,265	(37,121)
Earnings per share, basic USD per share	(0.26)	(0.05)	0.76	1.71	0.71	(0.37)
Earnings per share, diluted USD per share	(0.26)	(0.05)	0.74	1.56	0.70	(0.37)
Weighted average shares, basic thousands of shares	96,018	96,611	97,213	101,351	100,135	99,521
Weighted average shares, diluted thousands of shares	96,018	96,611	100,058	105,319	101,435	99,521

Fiscal years (TH's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	6,979	23,406	181,673	103,929	190,668	8,348
Accounts receivable	28,183	28,780	42,153	67,092	49,342	56,200
Inventory	900	1,600	2,000	2,100	1,900	2,100
Prepaid and other current assets	7,195	8,350	12,553	9,479	9,326	8,790
Total current assets	43,562	60,536	236,379	180,500	249,336	73,338
Property and equipment, net	311,487	291,792	357,129	349,064	320,852	—
Right-of-use asset	—	—	27,298	19,698	24,935	6,544
Goodwill	41,038	41,038	41,038	41,038	41,038	41,038
Total assets	534,237	513,392	771,727	694,353	725,774	530,205
Accounts payable	10,644	11,803	17,563	20,926	16,187	44,393
Accrued liabilities	24,699	33,126	39,642	33,652	25,782	22,475
Current portion of long-term debt	—	—	—	—	180,328	—
Total current liabilities	45,533	72,796	190,896	70,330	233,404	84,043
Long-term debt	—	—	—	178,093	—	—
Lease liability, non-current	—	—	11,104	8,426	17,459	1,128
Total liabilities	435,349	416,121	570,880	317,046	304,684	141,145
Retained earnings	18,320	13,744	87,683	261,115	332,380	295,259
Total stockholders' equity	98,888	97,271	200,847	377,307	421,081	389,257
Total liabilities and equity	534,237	513,392	771,727	694,353	725,774	530,205
Common shares outstanding (cover page) thousands of shares	101,236	101,953	100,964	100,520	99,364	100,153

Fiscal years (TH's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(25,131)	(4,576)	73,939	173,700	71,265	(37,121)
Stock-based compensation	3,606	5,084	19,242	11,174	7,306	7,552
Net cash from operating activities	46,781	104,599	305,612	156,801	151,675	74,092
Net cash from investing activities	(10,949)	(35,915)	(140,228)	(68,180)	(28,842)	(67,790)
Share repurchases	5,318	—	—	—	33,496	—
Net cash from financing activities	(35,683)	(52,271)	(7,098)	(166,369)	(36,064)	(188,641)
Net change in cash	140	16,427	158,267	(77,744)	86,739	(182,320)

SIC 7000 and related industry codes, similar size; rows marked “added: same SIC” fill a short list. Each row is the latest quarter reported.

How peers are chosen

SIC 7000 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Fewer than three companies fall in that range, so the list adds same-SIC (7000) companies nearest in public float, each marked “added: same SIC”.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
Target Hospitality	6,068	85,455	103,980*	99.6M	—	Q2 FY26 10-QJun 30, 2026
Civeo	24,282	193,101	26,421*	10.3M	—	Q3 FY26 10-QSep 30, 2026
Sonder Holdings	27,130	147,085	(19,618)*	13.3M	1.4 quarters	Q2 FY25 10-QJun 30, 2025
Hilton Grand Vacationsadded: same SIC	227,000	1,808,000	87,000*	75.8M	—	Q3 FY26 10-QSep 30, 2026
ModuLinkadded: same SIC	114	360	(276)*	4.0B	0.4 quarters	Q2 FY26 10-Q/AJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.