---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-010637"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:54:31.417622+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Target Hospitality Q2 net loss $14.9M, revenue down 39% YoY; raises 2025 guidance

## Summary
- Revenue $61.6M, down from $100.7M YoY; net loss $14.9M vs net income $18.4M YoY.
- Adjusted EBITDA $3.5M vs $52.2M YoY; average utilized beds 7,482 (45% utilization) vs 14,370 (89%).
- Full-year 2025 outlook raised: revenue $310-320M, Adjusted EBITDA $50-60M.
- Secured $400M+ in new multi-year contracts including $246M Dilley Contract and $154M Workforce Hub.
- Total available liquidity ~$170M, net leverage 0.1x.

## SEC filing metadata
- accession: 0001558370-25-010637
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712189/000155837025010637/0001558370-25-010637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000155837025010637/th-20250807x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-010637
- JSON: https://secwatch.observer/filing/0001558370-25-010637.json
- Plain text: https://secwatch.observer/filing/0001558370-25-010637.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.