Perimeter Solutions SA Files Q3 2024 10-Q

TL;DR

Perimeter Solutions SA dropped its Q3 10-Q. Check financials.

AI Summary

Perimeter Solutions, SA filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Specific financial figures and segment performances are outlined within the report.

Why It Matters

This filing provides investors with the latest financial health and operational status of Perimeter Solutions SA, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal risks or opportunities, but without specific negative or positive indicators, a medium risk level is assigned.

Key Players & Entities

• Perimeter Solutions, SA (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• prm-20240930.htm (10-Q) — 1320KB
• exhibit31109302024.htm (EX-31.1) — 10KB
• exhibit31209302024.htm (EX-31.2) — 11KB
• exhibit32109302024.htm (EX-32.1) — 9KB
• 0001880319-24-000105.txt ( ) — 7805KB
• prm-20240930.xsd (EX-101.SCH) — 55KB
• prm-20240930_cal.xml (EX-101.CAL) — 87KB
• prm-20240930_def.xml (EX-101.DEF) — 280KB
• prm-20240930_lab.xml (EX-101.LAB) — 721KB
• prm-20240930_pre.xml (EX-101.PRE) — 503KB
• prm-20240930_htm.xml (XML) — 1057KB

Financial Statements

Financial Statements 6 Condensed Consolidated Balance Sheets as of September 30 , 2024 (Unaudited) and December 31, 2023 6 Condensed Consolidated Statements of Operations and Comprehensive ( Loss) Income for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 7 Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 8 Condensed Consolidated Statements of Cash Flows for the nin e months ended September 30, 2024 and 2023 (Unaudited) 10 Notes to Condensed Consolidated Financial Statements (Unaudited) 11 1. Description of Business and Basis of Presentation 11 2. Summary of Significant Accounting Policies and Recent Accounting Pronouncements 12 3. Balance Sheet Components 14 4. Goodwill and Other Intangible Assets 15 5. Leases 16 6. Long-Term Debt and Redeemable Preferred Shares 17 7. Income Taxes 18 8. Commitments and Contingencies 19 9. Equity 19 10. Share-Based Compensation 19 11. Fair Value Measurements 21 12. Related Parties 23 13. Revenue Recognition 23 14. (Loss) Earnings Per Share 24 15. Segment Information 24 16. Subsequent Event 25 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 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

SIGNATURES

SIGNATURES 38 5 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) September 30, 2024 December 31, 2023 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 223,053 $ 47,276 Accounts receivable, net 97,566 39,593 Inventories 108,366 145,652 Prepaid expenses and other current assets 9,732 18,493 Total current assets 438,717 251,014 Property, plant and equipment, net 61,552 59,402 Operating lease right-of-use assets 14,966 16,339 Finance lease right-of-use assets 6,322 6,064 Goodwill 1,036,481 1,036,279 Customer lists, net 646,136 674,786 Technology and patents, net 171,393 180,653 Tradenames, net 85,760 89,568 Other assets, net 978 1,317 Total assets $ 2,462,305 $ 2,315,422 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 23,082 $ 21,639 Accrued expenses and other current liabilities 65,040 30,710 Founders advisory fees payable - related party 15,148 2,702 Deferred revenue 8,792 — Total current liabilities 112,062 55,051 Long-term debt, net 667,447 666,494 Operating lease liabilities, net of current portion 13,582 14,908 Finance lease liabilities, net of current portion 6,094 5,547 Deferred income taxes 253,956 253,454 Founders advisory fees payable - related party 294,865 56,917 Redeemable preferred shares 108,934 105,799 Redeemable preferred shares - related party 2,805 2,764 Other liabilities 2,377 2,193 Total liabilities 1,462,122 1,163,127 Commitments and contingencies (Note 8) Shareholders' equity: Ordinary shares, $ 1 nominal value per share, 4,000,000,000 shares authorized; 166,843,819 and 165,066,195 shares issued; 145,240,338 and 146,451,005 shares outstanding at September 30, 2024 and December 31, 2023, respectively 166,844 165,067 Treasury shares, at cost; 21,603,481 and 18,615,190 shares at September 30, 2024 and December 31, 2023, respectively ( 127,827 ) ( 113,407 ) Additional paid-in