Target Hospitality reports FY2025 revenue $320.6M, net loss $37.1M; secures over $740M in new contracts

Target Hospitality Corp.

Revenue $320.6M; net loss $37.1M ($0.37 loss per share); Adjusted EBITDA $53.2M.
Zero net debt; total liquidity $183M as of Dec 31, 2025.
New $129M contract (1,400 beds) supporting West Texas power/data center development.
New $23M contract (400 beds) supporting natural gas power generation near Pecos, TX.
Over $740M in multi-year contracts since Feb 2025, incl. $246M Dilley, $175M Workforce Hub.

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