The strong beat on adjusted EPS and the 128% Adjusted EBITDA growth, combined with new multi-year government contracts, signal accelerating momentum. However, the massive increase in debt to $1.21B and negative operating cash flow due to founder fee settlements warrant monitoring for leverage and liquidity risks in coming quarters.
Price Chart
Executive Summary
Perimeter Solutions reported Q1 2026 results with net sales surging 74% to $125.1M, driven by the MMT acquisition and organic growth. Adjusted EPS of $0.06 beat the $0.02 consensus estimate by 200%, while GAAP EPS was $0.44. The company also secured key five-year contracts with the U.S. Defense Logistics Agency and California Department of Forestry, providing long-term revenue visibility.
Key Financial Metrics
Key Facts
- Net sales increased 74% YoY to $125.1M, from $72.0M in Q1 2025
- GAAP diluted EPS was $0.44 vs $0.36 in the prior year quarter
- Adjusted EPS was $0.06, beating consensus estimate of $0.02 by 200%
- Adjusted EBITDA increased 128% to $41.2M from $18.1M
- Specialty Products segment net sales grew 128% to $79.6M, driven by MMT acquisition
- Fire Safety segment net sales grew 22% to $45.5M
- Entered into five-year contracts with U.S. Defense Logistics Agency and California Department of Forestry in April 2026
- Cash used in operations was $89.0M, primarily due to $95.7M in cash settlement of founders advisory fees
- Long-term debt increased to $1.21B from $669M, reflecting financing for MMT acquisition
Financial Impact
Revenue growth of 74% YoY, Adjusted EBITDA growth of 128% YoY, and a 200% EPS beat vs consensus
Risk Factors
- Long-term debt increased to $1.21B from $669M, raising leverage and interest expense risk
- Operating cash flow was negative $89.0M due to $95.7M in cash settlement of founders advisory fees
- Specialty Products segment growth is heavily dependent on MMT acquisition integration
- Fire Safety segment revenue is seasonal and dependent on wildfire activity and government contracts
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001880319-26-000035 |
| Document: prm-20260506.htm | 0001880319-26-000035 |
| Document: 0001880319-26-000035-index-headers.html | 0001880319-26-000035 |
| Document: 0001880319-26-000035-index.html | 0001880319-26-000035 |
| Document: 0001880319-26-000035.txt | 0001880319-26-000035 |
| 8-K Data (Synthetic) | 0001880319-26-000035 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $27.80 | awaiting T+60 | — | $28.48 (+2.45%) |
Jul 31, 2026 12w ago | 8-K | $30.61 $28.10 | ▼ −8.20% | ▼ −10.65% | $28.48 (−6.96%) |
Jul 31, 2026 12w ago | Press Release | $30.61 $28.10 | ▲ +8.20% | ▲ +10.65% | $28.48 (+6.96%) |
Jul 23, 2026 13w ago | Press Release | $33.73 $26.35 | ▼ −21.88% | ▼ −25.17% | $28.48 (−15.56%) |
Jun 12, 2026 19w ago | 144 | $36.36 $31.23 | ▼ −14.11% | ▼ −15.11% | $28.48 (−21.67%) |
May 15, 2026 23w ago | Insider Cluster | $33.44 $34.56 | ▲ +3.35% | ▼ −1.50% | $28.48 (−14.83%) |
May 6, 2026 24w ago | 8-K | $27.41 $30.61 | ▲ +11.67% | ▲ +9.61% | $28.48 (+3.90%) |
May 6, 2026 24w ago | Press Release | $27.41 $30.61 | ▲ +11.67% | ▲ +9.61% | $28.48 (+3.90%) |
Apr 21, 2026 26w ago | Press Release | $30.65 $34.42 | ▲ +12.30% | ▲ +7.52% | $28.48 (−7.08%) |
Apr 17, 2026 27w ago | DEFA14A | $27.80 $33.32 | ▲ +19.86% | ▲ +13.71% | $28.48 (+2.45%) |
US Market Status
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