TARGET HOSPITALITY CORP.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-9.0M | $-12.9M | $-14.9M | $-795.0K | $-14.9M | $-6.5M | $12.5M | $20.0M |
| Depreciation & Amortization | $21.5M | $19.6M | $19.6M | $18.5M | $17.7M | $17.6M | $17.5M | $18.0M |
| Depreciation | $18.2M | $16.2M | $16.2M | $15.1M | $14.3M | $14.3M | $14.1M | $14.6M |
| Amortization | $3.4M | $3.4M | $3.3M | $3.4M | $3.4M | $3.4M | $3.3M | $3.4M |
| Stock-Based Compensation | $2.3M | $1.7M | $1.8M | $1.9M | $2.1M | $1.7M | $1.6M | $1.6M |
| Net Cash from Operating Activities | $104.0M | $7.0M | $5.7M | $53.4M | $11.1M | $3.9M | $30.6M | $31.4M |
| Investing Activities | ||||||||
| Capital Expenditures | $7.8M | $176.0K | $52.0K | $49.0K | $-14.9M | $15.5M | $363.0K | $63.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-111.5M | $-39.4M | $-26.6M | $-16.3M | $-7.7M | $-17.2M | $-5.4M | $-7.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | $11.3M | $1.1M |
| Net Cash from Financing Activities | $8.2M | $29.4M | $-1.2M | $-25.9M | $-18.6M | $-142.9M | $-12.2M | $-692.0K |
| Net Change in Cash | $607.0K | $-2.9M | $-22.0M | $11.2M | $-15.2M | $-156.2M | $12.9M | $23.5M |
| Free Cash Flow | $96.2M | $6.9M | $5.7M | $53.3M | $25.9M | $-11.6M | $30.2M | $31.4M |