Perimeter Solutions SA Files Q2 2024 10-Q Report

TL;DR

Perimeter Solutions SA dropped its Q2 10-Q. Check financials.

AI Summary

Perimeter Solutions, SA filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the second quarter and the first half of the year. Specific financial figures and operational details are presented within the report, which is standard for a quarterly update.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial performance and operational status of Perimeter Solutions, SA, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240801 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Perimeter Solutions, SA (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240801 (date) — Filing date of the report

FAQ

Key Financial Figures

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

Filing Documents

• prm-20240630.htm (10-Q) — 1236KB
• exhibit31106302024.htm (EX-31.1) — 10KB
• exhibit31206302024.htm (EX-31.2) — 11KB
• exhibit32106302024.htm (EX-32.1) — 9KB
• 0001880319-24-000062.txt ( ) — 7660KB
• prm-20240630.xsd (EX-101.SCH) — 54KB
• prm-20240630_cal.xml (EX-101.CAL) — 85KB
• prm-20240630_def.xml (EX-101.DEF) — 294KB
• prm-20240630_lab.xml (EX-101.LAB) — 717KB
• prm-20240630_pre.xml (EX-101.PRE) — 501KB
• prm-20240630_htm.xml (XML) — 1030KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30 , 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30 , 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30 , 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 (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 15 8. Commitments and Contingencies 15 9. Equity 15 10. Share-Based Compensation 16 11. Fair Value Measurements 18 12. Related Parties 19 13. Revenue Recognition 20 14. Earnings (Loss) Per Share 20 15. Segment Information 21 16. Subsequent Event 22 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 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) June 30, 2024 December 31, 2023 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 43,162 $ 47,276 Accounts receivable, net 96,321 39,593 Inventories 142,172 145,652 Prepaid expenses and other current assets 13,662 18,493 Total current assets 295,317 251,014 Property, plant and equipment, net 59,369 59,402 Operating lease right-of-use assets 15,446 16,339 Finance lease right-of-use assets 6,553 6,064 Goodwill 1,030,180 1,036,279 Customer lists, net 653,472 674,786 Technology and patents, net 173,456 180,653 Tradenames, net 86,745 89,568 Other assets, net 1,092 1,317 Total assets $ 2,321,630 $ 2,315,422 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 21,805 $ 21,639 Accrued expenses and other current liabilities 42,991 30,710 Founders advisory fees payable - related party 9,129 2,702 Deferred revenue 7,927 — Total current liabilities 81,852 55,051 Long-term debt, net 667,125 666,494 Operating lease liabilities, net of current portion 14,068 14,908 Finance lease liabilities, net of current portion 6,063 5,547 Deferred income taxes 247,809 253,454 Founders advisory fees payable - related party 116,708 56,917 Redeemable preferred shares 107,862 105,799 Redeemable preferred shares - related party 2,818 2,764 Other liabilities 2,151 2,193 Total liabilities 1,246,456 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; 145,221,577 and 146,451,005 shares outstanding at June 30, 2024 and December 31, 2023, respectively 166,825 165,067 Treasury shares, at cost; 21,603,082 and 18,615,190 shares at June 30, 2024 and December 31, 2023, respectively ( 127,824 ) ( 113,407 ) Additional paid-in capital 1,704,