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Target Hospitality Corp.

Target Hospitality Corp.THEarnings & Financial Report

Nasdaq

Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.

TH Q3 2025 Key Financial Metrics

Revenue

$91.6M

Gross Profit

$17.9M

Operating Profit

$69.0K

Net Profit

$-795.0K

Gross Margin

19.6%

Operating Margin

0.1%

Net Margin

-0.9%

YoY Growth

39.2%

EPS

$-0.01

Financial Flow

Target Hospitality Corp. Q3 2025 Financial Summary

Target Hospitality Corp. reported revenue of $91.6M for Q3 2025, with a net profit of $-795.0K (-0.9% margin). Cost of goods sold was $73.6M, operating expenses totaled $17.9M.

Key Financial Metrics

Total Revenue$91.6M
Net Profit$-795.0K
Gross Margin19.6%
Operating Margin0.1%
Report PeriodQ3 2025

Target Hospitality Corp. Annual Revenue by Year

Target Hospitality Corp. annual revenue history includes year-by-year totals (for example, 2024 revenue was $265.9M).

YearAnnual Revenue
2024$265.9M
2023$365.6M
2022$333.7M

Income Statement

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Revenue$84.7M$72.4M$67.5M$65.8M$60.2M$54.9M$54.9M$91.6M
YoY Growth-13.2%-23.7%-27.1%-29.7%-28.9%-24.2%-18.7%39.2%

Balance Sheet

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Assets$694.4M$687.2M$697.0M$709.8M$725.8M$562.5M$533.7M$541.2M
Liabilities$317.0M$311.6M$299.9M$292.1M$304.7M$147.3M$132.5M$138.9M
Equity$377.3M$375.5M$397.2M$417.6M$421.1M$415.3M$401.3M$402.4M

Cash Flow

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Operating CF$38.3M$50.6M$39.1M$31.4M$30.6M$3.9M$11.1M$53.4M