NASDAQ$TH

Target Hospitality Corp · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

TH reported Q3 2025 revenue of $99.4M, a net loss of $757.0K.

For Q3 2025, TH reported Revenue was $99.4M, net loss was $757.0K. The filing discusses operating performance, liquidity, and outlook in MD&A.

  • Revenue $99.4M for Q3 2025.
  • Net loss $757.0K.
  • MD&A covers liquidity, capital allocation, and sector-specific risks.

Headline financials

Total Revenue

$99.4M

Previous: $95.2M+4.4%
EPS (adj)

-$0.01

Previous: $0.20-105.0%
Average Utilized Beds

8.1K

Previous: 13.1K-38.3%
Utilization

49.0%

Previous: 81.0%-39.5%
Average Daily Rate

$70.24

Previous: $72.96-3.7%
Capital Expenditures

-$15.5M

Previous: -$324K-4684.0%
Net Income

-$795K

Previous: $20M-104.0%
Operating Income

$69K

Previous: $28M-99.8%
Gross Profit

$17.9M

Previous: $45.2M-60.3%

Revenue & EPS history

Target Hospitality · Revenue · Quarterly

$99.4M

Q3 2025+4.4%vs Q3 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Target Hospitality · $146M total across 3 segments · Q3 2023

  • Government
    $106M-14.4%
  • Hospitality & Facilities Services - South
    $37.5M+11.6%
  • All Other
    $2.87M+275.3%

Forward guidance

Outlook focuses on cash runway, pipeline milestones, and cost discipline as the company works toward profitability.

Tailwinds

  • Cash and equivalents support operations into upcoming milestones.
  • Strategic initiatives and partnerships noted in MD&A.

Headwinds

  • Ongoing operating losses and R&D or interest spend pressure earnings.
  • Financing, dilution, or macro factors may affect liquidity.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+2.0%

Avg return

Earnings day

+3.2%

Avg return

5 days after

+4.5%

Avg return

30 days after

65%

20 / 31 earnings

Positive

+23.7%

Q4 2021

Best reaction

-34.9%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+17.9%+21.7%
Q4 2025+13.8%+14.0%+81.2%
Q3 2025-15.5%-15.4%+6.7%
Q1 2025+5.1%+3.8%-0.3%
Q4 2024+6.4%+7.3%+3.6%
Q3 2024+6.4%-1.5%-6.2%
Q2 2024+12.5%+10.5%+10.5%
Q1 2024+5.0%+4.1%+0.5%
Q4 2023+4.8%+1.8%+25.4%
Q3 2023-3.6%-9.1%-13.4%
Q2 2023+7.8%+13.5%+21.9%
Q1 2023+13.9%+25.2%+24.5%
Q4 2022+6.0%+8.4%-23.0%
Q3 2022+17.6%+23.2%+38.6%
Q2 2022-9.6%-2.6%-7.8%
Q1 2022-11.0%-13.3%-3.2%
Q4 2021+23.7%+18.6%+19.6%
Q3 2021-2.0%-13.1%-31.6%
Q2 2021-16.4%-14.4%-4.2%
Q1 2021+8.3%+33.4%+57.8%
Q4 2020+6.8%-7.7%+29.7%
Q3 2020+3.2%+0.4%+30.7%
Q2 2020+12.4%+13.8%-9.0%
Q1 2020+8.2%+5.9%-28.6%
Q4 2019-34.9%-3.1%-58.3%
Q3 2019-11.2%-15.0%-15.5%
Q2 2019-13.5%-12.2%-8.9%
Q1 2019-0.7%-1.1%-6.7%
Q3 2018+0.1%+0.2%+1.7%
Q2 2018+0.5%+0.5%+0.2%
Q1 2018-0.5%+1.0%-0.7%
Q4 2018
Q3 2017
Q2 2017
Q1 2017

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro