Perimeter Solutions, SA Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Perimeter Solutions, SA has filed its Q1 2024 10-Q report detailing financial data and company information.</b>

AI Summary

Perimeter Solutions, SA (PRM) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Perimeter Solutions, SA filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. Key dates include the filing date of May 9, 2024, and the period of report as March 31, 2024. The company is incorporated in N4 with its fiscal year ending December 31. The filing includes data related to common stock, warrants, customer lists, and intangible assets as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking Perimeter Solutions, SA, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for Perimeter Solutions, SA. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Perimeter Solutions, SA shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in the chemicals sector.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand Perimeter Solutions, SA's Q1 2024 performance.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-09 — Filed As Of Date (Date the filing was submitted)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period)
• 2023-12-31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Perimeter Solutions, SA (company) — Filer and subject of the report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-09 (date) — Filed as of date
• 0001880319-24-000045 (filing_id) — Accession number
• 12E RUE GUILLAUME KROLL, L-1882 (address) — Business and mail address
• LUXEMBOURG (location) — City for business and mail address
• 2800 (industry_code) — Standard Industrial Classification
• CHEMICALS & ALLIED PRODUCTS (industry) — Standard Industrial Classification

FAQ

Industry Context

Perimeter Solutions, SA operates within the Chemicals & Allied Products industry (SIC 2800).

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity from the previous quarter.
2. Review any disclosures related to revenue segments or geographic concentration.
3. Examine the footnotes for any significant accounting policies or contingent liabilities.

Key Dates

• 2024-03-31: End of Reporting Period — Marks the end of the first quarter of fiscal year 2024.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for Perimeter Solutions, SA, so a direct comparison to a prior filing is not possible from this extract.

Key Financial Figures

• $1.00 — istered Ordinary Shares, nominal value $1.00 per share PRM New York Stock Exchange

Filing Documents

• prm-20240331.htm (10-Q) — 974KB
• exhibit31103312024.htm (EX-31.1) — 10KB
• exhibit31203312024.htm (EX-31.2) — 11KB
• exhibit32103312024.htm (EX-32.1) — 9KB
• 0001880319-24-000045.txt (&nbsp;) — 6781KB
• prm-20240331.xsd (EX-101.SCH) — 54KB
• prm-20240331_cal.xml (EX-101.CAL) — 84KB
• prm-20240331_def.xml (EX-101.DEF) — 289KB
• prm-20240331_lab.xml (EX-101.LAB) — 689KB
• prm-20240331_pre.xml (EX-101.PRE) — 486KB
• prm-20240331_htm.xml (XML) — 827KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 202 4 (Unaudited) and December 31, 202 3 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three months ended March 31, 202 4 and 202 3 (Unaudited) 4 Condensed Consolidated Statements of Shareholders' Equity for the Three months ended March 31, 202 4 and 202 3 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three months ended March 31, 202 4 and 202 3 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 1. Description of Business and Basis of Presentation 7 2. Summary of Significant Accounting Policies and Recent Accounting Pronouncements 8 3 . Balance Sheet Components 10 4 . Goodwill and Other Intangible Assets 11 5 . Leases 12 6 . Long-Term Debt and Redeemable Preferred Shares 13 7 . Income Taxes 14 8 . Commitments and Contingencies 15 9 . Equity 15 10 . Share-Based Compensation 15 11 . Fair Value Measurements 17 12 . Related Parties 18 13 . Revenue Recognition 19 1 4 . ( Loss) E arnings Per Share 19 15 . Segment Information 20 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31

SIGNATURES

SIGNATURES 32 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PERIMETER SOLUTIONS, SA AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) March 31, 2024 December 31, 2023 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 34,382 $ 47,276 Accounts receivable, net 38,393 39,593 Inventories 144,674 145,652 Prepaid expenses and other current assets 19,426 18,493 Total current assets 236,875 251,014 Property, plant and equipment, net 58,194 59,402 Operating lease right-of-use assets 15,870 16,339 Finance lease right-of-use assets 6,748 6,064 Goodwill 1,031,388 1,036,279 Customer lists, net 663,573 674,786 Technology and patents, net 176,811 180,653 Tradenames, net 88,084 89,568 Other assets, net 1,204 1,317 Total assets $ 2,278,747 $ 2,315,422 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 14,345 $ 21,639 Accrued expenses and other current liabilities 40,208 30,710 Founders advisory fees payable - related party 8,028 2,702 Total current liabilities 62,581 55,051 Long-term debt, net 666,808 666,494 Operating lease liabilities, net of current portion 14,520 14,908 Finance lease liabilities, net of current portion 6,200 5,547 Deferred income taxes 247,981 253,454 Founders advisory fees payable - related party 117,222 56,917 Redeemable preferred shares 106,831 105,799 Redeemable preferred shares - related party 2,791 2,764 Other liabilities 2,155 2,193 Total liabilities 1,227,089 1,163,127 Commitments and contingencies (Note 8) Shareholders' equity: Ordinary shares, $ 1 nominal value per share, 4,000,000,000 shares authorized; 166,824,659 and 165,066,195 shares issued; 145,240,112 and 146,451,005 shares outstanding at March 31, 2024 and December 31, 2023, respectively 166,825 165,067 Treasury shares, at cost; 21,584,547 and 18,615,190 shares at March 31, 2024 and December 31, 2023, respectively ( 127,685 ) ( 113,407 ) Additional paid-in capital 1,701,147 1,701,163 Accumu