Shareholders stand to receive a significant and attractive cash premium, as the purchase price of US$3.01, with a contingent value right for potential additional aggregate payments of up to US$1.19 per share, represents a compelling premium of 216% to the closing price on the Nasdaq on April 10, 2025, the date prior to the announcement of Future Pak’s initial non-binding proposal.Board unanimously recommends shareholders vote “FOR” the Arrangement.Shareholders are encouraged to review the circular carefully ...

Core Viewpoint - Target Hospitality Corp has announced a multi-year lease and services agreement to construct and provide comprehensive facility services for a regional data center campus in the Southwestern United States, indicating a strategic expansion into the technology infrastructure sector [1][5]. Group 1: Contract Details - The Data Center Community Contract has an initial term through September 2027 and is expected to generate approximately $43 million in committed minimum revenue over this period [3]. - The company anticipates realizing about $5 million in revenue from this contract in 2025 [3]. Group 2: Community Construction and Capacity - Target will construct a purpose-built Data Center Community that will initially support 250 individuals, with the potential to expand to approximately 1,500 individuals as demand grows [2]. - The construction will utilize a portion of the existing asset portfolio, resulting in a minimal net capital investment of approximately $6 to $9 million in 2025 [4]. Group 3: Strategic Implications - This agreement highlights Target's capability to deliver comprehensive turnkey solutions across diverse commercial end-markets, capitalizing on over $1 trillion in committed technology infrastructure investments announced since January 2025 [5]. - The contract broadens the company's customer reach and demonstrates its ability to support the growing demand in the technology infrastructure sector [6].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38343 TARGET HOSPITALITY CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R ...

Target Hospitality (TH) Q2 2025 Earnings Call August 07, 2025 09:00 AM ET Speaker0Good morning, ladies and gentlemen, and welcome to the Target Hospitality Second Quarter twenty twenty five Earnings Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press 0 for the operator. This call is being recorded on Thursday, 08/07/2025.I would now like to t ...

Executive Commentary "We have made remarkable progress in our strategic initiatives to expand and diversify Target's business portfolio. In the first half of 2025, we announced two new contracts valued at over $400 million across various industries, all benefiting from strong long-term growth trends," stated Brad Archer, President and Chief Executive Officer. "Our strong momentum, combined with an unprecedented domestic investment cycle and increased demand in the government sector, supports the most robust ...

Core Insights - Target Hospitality Corp reported a significant decline in revenue and net income for the second quarter of 2025, primarily due to contract terminations in the government segment [5][6][7] - The company announced over $400 million in multi-year contracts in 2025, indicating a strong growth pipeline supported by robust long-term trends [2][3][11] - Target's strategic initiatives focus on expanding and diversifying its business portfolio, particularly in the government and critical mineral supply chain sectors [4][15][16] Financial Performance - Revenue for the three months ended June 30, 2025, was $61.6 million, down from $100.7 million in the same period in 2024, representing a decrease of approximately 39% [5][6] - Net loss for the same period was $14.9 million, compared to a net income of $18.4 million in 2024 [7][39] - Adjusted EBITDA was $3.5 million, a significant drop from $52.2 million in the prior year [9][43] Operational Highlights - Average utilized beds decreased to 7,482 in Q2 2025 from 14,370 in Q2 2024, resulting in a utilization rate of 45%, down from 89% [5][6] - The company secured a five-year, $246 million Dilley Contract, which is expected to enhance contributions from the government segment [8][16] - Target's Workforce Hub Contract is projected to generate approximately $154 million in revenue through 2027, supporting the North American critical mineral supply chain [8][13] Strategic Initiatives - The company is actively pursuing growth initiatives in response to an unprecedented domestic investment cycle and increased government demand [4][11] - Target's capabilities in developing remote workforce communities are being leveraged for advanced contract discussions in the AI and data center sectors [14][15] - The company aims to enhance its service offerings in rapidly growing end-markets, supported by over $1.2 trillion in committed investments since January 2025 [15][16] Capital Management - As of June 30, 2025, Target had approximately $170 million in total available liquidity and a net leverage ratio of 0.1x [10][39] - Capital expenditures for the quarter were approximately $6.0 million, focused on enhancing asset capabilities [10][39] - The company anticipates increased cash flow from operating activities, with $15.0 million generated in the first half of 2025 [8][41]

Core Viewpoint - Target Hospitality Corp. will release its second quarter 2025 financial results on August 7, 2025, before market opens, and will hold a conference call to discuss these results [1]. Group 1: Financial Results Announcement - The company is set to announce its second quarter 2025 financial results on August 7, 2025 [1]. - A conference call is scheduled for the same day at 9:00 AM Eastern Time to discuss the financial results [1][3]. Group 2: Conference Call Details - The conference call will be accessible via live webcast on the company's website [2]. - Participants are encouraged to register for the webcast or dial in approximately 15 minutes before the call starts [3]. - A replay of the conference call will be available on the company's website after the event [4]. Group 3: Company Overview - Target Hospitality is one of North America's largest providers of vertically integrated modular accommodations and hospitality services [5]. - The company offers a range of value-added solutions, including food service management, concierge, laundry, logistics, security, and recreational facilities services [5].

Core Insights - Theratechnologies Inc. reported strong demand for EGRIFTA SV with record high patient enrollments, achieving nearly $37 million in revenue for the first half of fiscal 2025 despite a supply shortage impact of $10-$12 million in Q1 [2][6][28] - The company is set to launch EGRIFTA WR, an improved version of EGRIFTA SV, in Q3 2025, leveraging the momentum from the past year [2][29] - The company has withdrawn its Fiscal 2025 revenue and Adjusted EBITDA guidance due to an announced acquisition by an affiliate of Future Pak [3] Financial Performance - For Q2 2025, consolidated revenue was $17.7 million, a decrease of 19.5% year-over-year, while the first half revenue was $36.8 million, down 3.9% from the previous year [6][24] - EGRIFTA SV net sales in Q2 2025 were $11.1 million, down 31.3% from $16.2 million in Q2 2024, while Trogarzo net sales increased by 13.4% to $6.6 million [5][10] - Adjusted EBITDA for Q2 2025 was $906,000, down from $5.5 million in Q2 2024, primarily due to increased spending and lower revenues from EGRIFTA SV [20][34] Cost Structure - Cost of goods sold for Q2 2025 was $4.7 million, representing 26.5% of revenue, compared to 20.7% in Q2 2024 [12][13] - R&D expenses decreased significantly to $2.6 million in Q2 2025 from $4.7 million in Q2 2024, attributed to reduced spending in oncology and F8 formulation programs [14][15] - Selling expenses increased to $6.8 million in Q2 2025, driven by higher compensation expenses related to market preparations [17][18] Net Loss and Financial Position - The company reported a net loss of $4.5 million for Q2 2025, compared to a net profit of $987,000 in Q2 2024, with a total net loss of $4.3 million for the first half of 2025 [24][27] - As of May 31, 2025, cash amounted to $9.5 million, with positive cash flows from operating activities of $2.7 million, indicating improved liquidity [26][27] Future Outlook - The company anticipates that existing cash and cash equivalents will be sufficient to fund operations for at least the next 12 months [26][30] - The successful transition from EGRIFTA SV to EGRIFTA WR is critical for meeting future revenue and EBITDA targets [29][30]

Core Viewpoint - Theratechnologies Inc. will report its financial results for the second quarter of 2025 on July 9, 2025, following the announcement of its acquisition on July 2, 2025, and no conference call will be held [1]. Company Overview - Theratechnologies is a specialty biopharmaceutical company focused on the commercialization of innovative therapies that aim to redefine standards of care [2].

Core Viewpoint - Theratechnologies Inc. has entered into a binding arrangement agreement with CB Biotechnology, LLC for the acquisition of all its common shares at a price of US$3.01 per share in cash, plus contingent value rights (CVRs) that could yield additional payments of up to US$1.19 per CVR, totaling a potential transaction value of US$254 million assuming full CVR payments [1][5][10]. Transaction Details - The cash and CVR consideration represents significant premiums of 126% and 216% respectively compared to the closing price on April 10, 2025, prior to the announcement of the initial proposal [2][5]. - The transaction is the result of a sale process led by a special committee of independent directors, aimed at maximizing shareholder value [3][18]. - The transaction will be funded by Future Pak through a combination of debt financing and cash on hand, with a commitment for a US$220 million credit facility [11]. Milestones and CVR Payments - CVR holders may receive additional payments based on the achievement of specific milestones related to the EGRIFTA franchise gross profit, with potential distributions of up to US$65 million [6][7]. - If the EGRIFTA franchise gross profit exceeds US$40 million in any 12-month period, 50% of the excess will be distributed to CVR holders [6]. - Additional one-time payments of US$10 million and US$15 million may be made if cumulative gross profits exceed US$150 million and US$250 million respectively over a 36-month period [6]. Shareholder Approval and Governance - The transaction requires approval from at least 66⅔% of the votes cast by common shareholders at a special meeting [12]. - The Board of Directors has unanimously recommended that shareholders approve the transaction, deeming it fair and in the best interests of the company [18][19]. - Voting support agreements have been secured from senior management and directors holding approximately 1.14% of the common shares [13]. Post-Transaction Structure - Upon completion, Theratechnologies will become a privately held company and will cease to be a reporting issuer under Canadian securities laws [15]. - The common shares will no longer be publicly traded on the Toronto Stock Exchange and Nasdaq [15].