$PRM

Perimeter Solutions, Inc.

CIK:0001880319|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 213,810	$ 162,639	$ 338,879	$ 234,669
Cost of goods sold	95,942	61,143	170,224	105,020
Gross profit	117,868	101,496	168,655	129,649
Operating expenses:
Selling, general and administrative expense	26,993	15,967	50,054	32,266
Amortization expense	24,025	14,604	46,624	28,703
Founders advisory fees - related party	266,255	96,883	189,877	16,270
Other operating expense	3,614	268	12,632	829
Total operating expenses	320,887	127,722	299,187	78,068
Operating (loss) income	(203,019)	(26,226)	(130,532)	51,581
Other expense (income):
Interest expense, net	19,593	9,930	43,949	19,574
Foreign currency gain	(1,203)	(2,096)	(2,554)	(3,255)
Other expense (income), net	27	(212)	(337)	(69)
Total other expense, net	18,417	7,622	41,058	16,250
(Loss) income before income taxes	(221,436)	(33,848)	(171,590)	35,331
Income tax benefit (expense)	39,801	1,687	62,891	(10,806)
Net (loss) income	(181,635)	(32,161)	(108,699)	24,525
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(9,132)	24,120	(15,698)	32,005
Total comprehensive (loss) income	$ (190,767)	$ (8,041)	$ (124,397)	$ 56,530
(Loss) earnings per share:
Basic (in usd per share)	$ (1.11)	$ (0.22)	$ (0.69)	$ 0.17
Diluted (in usd per share)	$ (1.11)	$ (0.22)	$ (0.69)	$ 0.16
Weighted average number of shares outstanding:
Basic (in shares)	163,410,894	147,055,804	158,663,642	147,779,470
Diluted (in shares)	163,410,894	147,055,804	158,663,642	156,039,133

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (108,699)	$ 24,525
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Founders advisory fees - related party (change in fair value)	189,877	16,270
Depreciation and amortization expense	56,047	34,817
Interest and payment-in-kind on preferred stock	3,809	3,666
Stock-based compensation	5,490	4,909
Non-cash lease expense	5,283	2,913
Deferred income taxes	(73,319)	(11,293)
Amortization of deferred financing costs	1,347	890
Foreign currency gain	(2,554)	(3,255)
Loss on disposal of assets	17	6
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(69,451)	(63,460)
Inventories	(15,856)	(21,834)
Prepaid expenses and other current assets	(21,335)	4,687
Accounts payable	7,281	12,003
Deferred revenue	23,275	18,340
Income taxes payable, net	2,721	7,962
Accrued expenses and other current liabilities	5,105	(763)
Founders advisory fees - related party (cash settled)	(95,726)	(6,677)
Operating lease liabilities	(4,085)	(1,998)
Finance lease liabilities	(236)	(251)
Other, net	1,394	(563)
Net cash (used in) provided by operating activities	(89,615)	20,894
Cash flows from investing activities:
Purchase of property and equipment	(18,526)	(17,577)
Purchase of intangible assets	0	(15,226)
Purchase of businesses, net of cash acquired	(682,294)	(10,000)
Net cash used in investing activities	(700,820)	(42,803)
Cash flows from financing activities:
Common stock repurchased	0	(40,370)
Proceeds from exercises of options	7,648	292
Principal payments on finance lease obligations	(379)	(482)
Proceeds from issuance of long-term debt	550,000	0
Payment of debt issuance costs	(10,057)	0
Net cash provided by (used in) financing activities	547,212	(40,560)
Effect of foreign currency on cash and cash equivalents	72	4,671
Net change in cash and cash equivalents	(243,151)	(57,798)
Cash and cash equivalents, beginning of period	325,927	198,456
Cash and cash equivalents, end of period	82,776	140,658
Supplemental disclosures of cash flow information:
Cash paid for interest	19,573	19,698
Cash paid for income taxes	$ 5,647	$ 12,844

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 82,776	$ 325,927
Accounts receivable, net	158,095	64,363
Inventories	203,265	139,634
Prepaid expenses and other current assets	52,252	34,049
Total current assets	496,388	563,973
Property, plant and equipment, net	109,215	85,138
Operating lease right-of-use assets	41,351	30,152
Finance lease right-of-use assets	5,223	5,713
Goodwill	1,365,724	1,065,211
Intangible assets, net	1,223,535	899,323
Other assets, net	3,322	3,497
Total assets	3,244,758	2,653,007
Current liabilities:
Accrued expenses and other current liabilities	67,062	47,212
Deferred revenue	26,413	1,879
Total current liabilities	316,399	175,118
Long-term debt, net	1,210,247	669,122
Operating lease liabilities, net of current portion	36,370	27,860
Finance lease liabilities, net of current portion	5,367	5,694
Deferred income taxes	77,997	80,410
Founders advisory fees payable - related party	452,617	440,697
Other non-current liabilities	4,661	3,590
Total liabilities	2,223,140	1,519,688
Equity:
Common stock, $0.0001 par value per share	19	17
Treasury stock, at cost	(168,197)	(168,197)
Additional paid-in capital	2,113,652	2,100,958
Accumulated other comprehensive loss	(22,068)	(6,370)
Accumulated deficit	(901,788)	(793,089)
Total equity	1,021,618	1,133,319
Total liabilities and equity	3,244,758	2,653,007
Nonrelated Party
Current liabilities:
Accounts payable	44,967	30,301
Preferred stock	118,962	115,904
Related Party
Current liabilities:
Accounts payable	177,957	95,726
Preferred stock	520	1,293
Customer lists, net
Current assets:
Intangible assets, net	904,934	628,189
Technology and patents, net
Current assets:
Intangible assets, net	195,537	184,804
Tradenames, net
Current assets:
Intangible assets, net	$ 123,064	$ 86,330