$EQPT
EquipmentShare.com Inc
CIK:0001693736|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
6 Months Ended | |||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
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| OPERATING ACTIVITIES | ||||||
| Net loss | $ (10) | $ (32) | ||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
| Depreciation and amortization expense | 216 | 167 | ||||
| Amortization of debt issuance costs and original issue discounts | 9 | 10 | ||||
| Allowance for credit losses and doubtful accounts | 18 | 12 | ||||
| Change in operating lease cost | 64 | 55 | ||||
| Stock-based compensation expense | 45 | 2 | ||||
| Deferred taxes | (21) | (33) | ||||
| Other | 3 | (4) | ||||
| Change in operating assets and liabilities: | ||||||
| Accounts receivable | (222) | (117) | ||||
| Inventories | (68) | (40) | ||||
| Prepaid costs and other assets | (102) | (66) | ||||
| Accounts payable and manufacturer flooring plans payable | 6 | (29) | ||||
| Accrued liabilities | (17) | 4 | ||||
| Operating lease liabilities | (63) | (56) | ||||
| Net cash used in operating activities | (142) | (127) | ||||
| INVESTING ACTIVITIES | ||||||
| Purchases of rental equipment | [1] | (1,017) | (799) | |||
| Proceeds from sale of rental equipment | [2] | 483 | 500 | |||
| Purchases of and deposits on property and other fixed assets | (163) | (116) | ||||
| Proceeds from sale of property and other fixed assets | 1 | 1 | ||||
| Investments in internally developed software | (17) | (20) | ||||
| Purchases of investments in equity and debt securities | (15) | (15) | ||||
| Proceeds from sale of investments in equity and debt securities | 7 | 8 | ||||
| Acquisition of businesses, net of cash acquired | (9) | (9) | ||||
| Net cash used in investing activities | (730) | (450) | ||||
| FINANCING ACTIVITIES | ||||||
| Payments on long-term debt and finance leases | (984) | (318) | ||||
| Proceeds from long-term debt, net | 1,332 | 900 | ||||
| Payments on deferred financing costs | (1) | 0 | ||||
| Payments on financing obligations | (3) | (16) | ||||
| Proceeds on financing obligations | 0 | 1 | ||||
| Dividends paid on perpetual preferred stock | (37) | (37) | ||||
| Proceeds from issuance of class A common stock upon initial public offering, net of underwriting discount and commissions | 706 | 0 | ||||
| Payments of equity issuance costs | (7) | 0 | ||||
| Exercise of stock options | 3 | 1 | ||||
| Net cash provided by financing activities | 1,009 | 531 | ||||
| Net increase (decrease) in cash and cash equivalents | 137 | (46) | ||||
| Cash and cash equivalents, beginning of period | 306 | 407 | ||||
| Cash and cash equivalents, end of period | 443 | 361 | ||||
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | ||||||
| Cash paid for interest | 131 | 126 | ||||
| Cash paid for taxes | 2 | 1 | ||||
| NON-CASH ACTIVITIES: | ||||||
| Purchase of rental equipment remaining in accounts payable and manufacturer flooring plans | 51 | 12 | ||||
| Purchase of property and other fixed assets remaining in accounts payable | 6 | 8 | ||||
| Accretion of perpetual preferred stock to redemption value | 10 | 14 | ||||
| Stock-based compensation for capitalized software development | $ 1 | $ 0 | ||||
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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Cash and cash equivalents | $ 443 | $ 306 | ||||||
| Accounts receivable, net | [1] | 971 | 748 | |||||
| Inventories | 460 | 401 | ||||||
| Prepaid costs | 232 | 169 | ||||||
| Other current assets | 104 | 106 | ||||||
| Total current assets | 2,210 | 1,730 | ||||||
| Rental equipment, net | 3,286 | 2,834 | ||||||
| Property and other fixed assets, net | 590 | 504 | ||||||
| Right of use assets, operating | 719 | 676 | ||||||
| Investments in non-consolidated affiliates | 63 | 59 | ||||||
| Other assets | 100 | 43 | ||||||
| Total assets | 7,111 | 5,987 | ||||||
| LIABILITIES, PERPETUAL PREFERRED STOCK, AND EQUITY | ||||||||
| Accounts payable | 105 | 95 | ||||||
| Accrued liabilities | 593 | 609 | ||||||
| Manufacturer flooring plans payable | 107 | 74 | ||||||
| Current portion of long-term debt | 2 | 4 | ||||||
| Current portion of operating lease liabilities | 79 | 69 | ||||||
| Current portion of finance lease liabilities | 19 | 19 | ||||||
| Current portion of financing obligations | 9 | 10 | ||||||
| Total current liabilities | 914 | 880 | ||||||
| Long-term debt, net of current portion, original issue discounts, and debt issuance costs | 3,635 | 3,268 | ||||||
| Operating lease liabilities, net of current portion | [2] | 690 | 655 | |||||
| Finance lease liabilities, net of current portion | [3] | 197 | 169 | |||||
| Financing obligations, net of current portion | 71 | 83 | ||||||
| Deferred tax liabilities, net | 22 | 43 | ||||||
| Other liabilities | 0 | 1 | ||||||
| Total liabilities | 5,529 | 5,099 | ||||||
| Perpetual preferred stock, net - $0.00000125 par value, 15 shares authorized, 14 and 14 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 370 | 360 | ||||||
| Convertible preferred stock, net - $0.00000125 par value, no shares authorized, issued and outstanding as of June 30, 2026, 149 shares authorized, 142 shares issued and outstanding at December 31, 2025 | 0 | 430 | ||||||
| Treasury stock, at cost, 5 and 5 shares at June 30, 2026 and December 31, 2025, respectively | (7) | (7) | ||||||
| Additional paid-in-capital | 1,266 | 105 | ||||||
| Retained earnings (accumulated deficit) | (47) | 0 | ||||||
| Accumulated other comprehensive income (loss) | 0 | 0 | ||||||
| Total equity | 1,212 | 528 | ||||||
| Total liabilities, perpetual preferred stock, and equity | 7,111 | 5,987 | ||||||
| Common Stock | ||||||||
| LIABILITIES, PERPETUAL PREFERRED STOCK, AND EQUITY | ||||||||
| Common stock, value, issued | 0 | 0 | ||||||
| Class A | ||||||||
| LIABILITIES, PERPETUAL PREFERRED STOCK, AND EQUITY | ||||||||
| Common stock, value, issued | 0 | 0 | ||||||
| Class B | ||||||||
| LIABILITIES, PERPETUAL PREFERRED STOCK, AND EQUITY | ||||||||
| Common stock, value, issued | 0 | 0 | ||||||
| Software, In-Development, Internally Developed, and Purchased | ||||||||
| ASSETS | ||||||||
| Capitalized software, net | 114 | 110 | ||||||
| Other | ||||||||
| ASSETS | ||||||||
| Capitalized software, net | $ 29 | $ 31 | ||||||
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