$ITG

ITG, Inc./DE/

CIK:0002110117|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 404,633	$ 292,405	$ 738,555	$ 517,792
Cost of revenue, excluding depreciation and amortization	332,581	237,091	613,647	423,696
Selling, general and administrative	28,141	15,765	53,713	30,546
Depreciation and amortization	21,014	13,988	41,439	27,245
Change in fair value of contingent liabilities	300	170	2,186	337
Total	382,036	267,014	710,985	481,824
Interest expense	(19,534)	(6,919)	(37,759)	(13,745)
Other expense, net	(1,008)	(1,042)	(1,927)	(2,030)
Income (loss) before provision for income taxes	2,055	17,430	(12,116)	20,193
Provision (benefit) for income taxes	267	5,829	(746)	7,013
Net income (loss)	$ 1,788	$ 11,601	$ (11,370)	$ 13,180
Earnings (loss) per unit – Class A
Basic (in dollars per share)	$ 0.01	$ 0.07	$ (0.07)	$ 0.08
Diluted (in dollars per share)	$ 0.01	$ 0.07	$ (0.07)	$ 0.08
Weighted average number of units – Class A
Basic (in shares)	160,000	160,000	160,000	160,000
Diluted (in shares)	160,000	160,000	160,000	160,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (11,370)	$ 13,180
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation	24,944	12,942
Amortization of intangible assets	16,495	14,303
Amortization of debt issuance costs	2,429	605
Amortization of operating right of use assets	8,672	3,955
Deferred income taxes	(779)	(2,823)
Loss (gain) on sale of assets	85	(66)
Change in fair value of contingent liabilities	2,186	337
Equity-based compensation	2,339	1,270
Changes in assets and liabilities, net of business acquisitions:
Accounts receivable	(6,228)	(12,940)
Contract assets	(87,731)	(7,297)
Prepaid expenses and other current assets	(7,019)	428
Accounts payable and accrued expenses	19,979	(8,293)
Operating lease liabilities	(8,022)	(3,856)
Payments of contingent liabilities	(3,022)	0
Net cash (used in) provided by operating activities	(47,042)	11,745
Cash flows from investing activities:
Purchase of property and equipment	(15,969)	(28,627)
Proceeds from sale of property and equipment	1,225	1,239
Acquisitions, net of cash acquired	(3,440)	(8,448)
Net cash used in investing activities	(18,184)	(35,836)
Cash flows from financing activities:
Payments of acquisition amounts due to sellers	(5,891)	0
Payments of contingent liabilities	(1,416)	0
Payments made on term loans	(8,251)	(11,812)
Proceeds from line of credit	373,000	67,000
Payments made on line of credit	(291,000)	(53,500)
Payments on finance leases	(612)	0
Distributions to members	(338)	0
Proceeds from equipment loans	11,332	22,279
Payments made on equipment loans	(12,831)	(6,135)
Payments of debt costs	0	(262)
Net cash provided by financing activities	63,993	17,570
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,233)	(6,521)
Cash and cash equivalents – beginning of period	3,719	7,367
Cash and cash equivalents – end of period	2,486	846
Supplemental disclosures of cash flow information:
Cash paid for interest	44,152	13,039
Cash paid for taxes, net of refunds	1,295	4,454
Supplemental disclosures of noncash investing and financing activity:
Accrued capital expenditures	575	0
ROU liabilities from ROU asset acquisition	8,209	6,552
Property and equity acquired through equipment loans	11,536	0
Other long-term assets accrual	$ 4,894	$ 0

Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Jan. 15, 2026
Current Assets
Total assets	$ 1,068,610
Commitments and Contingencies
Parent Company
Current Assets
Cash	0	$ 0
Total assets	0	0
Commitments and Contingencies
Stockholder’s Equity
Common stock, $0.001 par value, 100 shares authorized, issued and outstanding	0	0
Total Stockholder’s Equity	$ 0	$ 0