Mister Car Wash, Inc.

CIK:0001853513|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Net revenues	$ 277,913	$ 261,656
Cost of labor and chemicals	76,702	74,252
Other store operating expenses	113,319	109,667
General and administrative	28,756	24,659
Loss on sale of assets, net	125	111
Total costs and expenses	218,902	208,689
Operating income	59,011	52,967
Other expense
Interest expense, net	12,283	16,023
Total other expense	12,283	16,023
Income before taxes	46,728	36,944
Income tax provision	12,546	9,944
Net income	34,182	27,000
Other comprehensive income, net of tax:
Gain on interest rate swap	785	0
Total comprehensive income	$ 34,967	$ 27,000
Earnings per share:
Basic	$ 0.1	$ 0.08
Diluted	$ 0.1	$ 0.08
Weighted-average common shares outstanding:
Basic	328,477,910	324,200,282
Diluted	334,309,927	331,479,048

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities
Net income	$ 34,182	$ 27,000
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization expense	23,434	20,917
Stock-based compensation expense	6,838	6,843
Loss on sale of assets, net	125	111
Amortization of deferred debt issuance costs	262	285
Non-cash lease expense	14,652	13,535
Deferred income tax	10,978	7,484
Changes in assets and liabilities
Accounts receivable, net	(211)	354
Other receivables	(2,069)	1,965
Inventory, net	430	490
Prepaid expenses and other current assets	(315)	2,356
Accounts payable	(2,002)	5,677
Accrued expenses	4,069	10,480
Deferred revenue	1,821	1,266
Operating lease liability	(12,791)	(11,604)
Other noncurrent assets and liabilities	257	391
Net cash provided by operating activities	79,660	87,550
Cash flows from investing activities
Purchases of property and equipment	(46,686)	(55,081)
Proceeds from sale of property and equipment	187	120
Net cash used in investing activities	(46,499)	(54,961)
Cash flows from financing activities
Proceeds from issuance of common stock under employee plans	372	1,587
Payments on debt borrowings	(7,000)	(62,307)
Principal payments on finance lease obligations	(212)	(193)
Net cash used in financing activities	(6,840)	(60,913)
Net change in cash and cash equivalents and restricted cash during period	26,321	(28,324)
Cash and cash equivalents and restricted cash at beginning of period	28,511	67,612
Cash and cash equivalents and restricted cash at end of period	54,832	39,288
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	54,627	39,133
Restricted cash, included in prepaid expenses and other current assets	205	155
Total cash, cash equivalents, and restricted cash	54,832	39,288
Supplemental disclosure of cash flow information
Cash paid for interest	12,327	7,032
Cash paid for income taxes	40	60
Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable	5,833	11,416
Property and equipment accrued in other accrued expenses	4,453	4,223
Stock option exercise proceeds in other receivables	$ 0	$ 113

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 54,627	$ 28,450
Accounts receivable, net	850	639
Other receivables	17,554	15,485
Inventory, net	5,054	5,485
Prepaid expenses and other current assets	10,700	9,619
Total current assets	88,785	59,678
Property and equipment, net	930,371	914,022
Operating lease right of use assets, net	930,870	942,664
Other intangible assets, net	110,385	110,822
Goodwill	1,134,830	1,134,830
Other assets	10,801	11,122
Total assets	3,206,042	3,173,138
Current liabilities
Accounts payable	25,742	27,824
Accrued payroll and related expenses	27,116	25,074
Other accrued expenses	36,709	41,540
Current maturities of operating lease liability	54,543	53,625
Current maturities of finance lease liability	903	879
Deferred revenue	37,725	35,904
Total current liabilities	182,738	184,846
Long-term debt, net	790,043	796,893
Operating lease liability	895,298	906,371
Financing lease liability	12,109	12,344
Deferred tax liabilities, net	148,787	137,547
Other long-term liabilities	1,877	2,124
Total liabilities	2,030,852	2,040,125
Stockholders' equity
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 327,532,052 and 328,282,533 shares outstanding as of March 31, 2026 and December 31, 2025, respectively	3,292	3,288
Additional paid-in capital	869,301	862,095
Accumulated other comprehensive income	492	(293)
Retained earnings	302,105	267,923
Total stockholders’ equity	1,175,190	1,133,013
Total liabilities and stockholders’ equity	$ 3,206,042	$ 3,173,138