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Perimeter Solutions (NYSE: PRM) Q1 revenue surges 74% on MMT acquisition

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Perimeter Solutions reported strong first-quarter 2026 growth driven by Specialty Products and a major acquisition. Net sales rose 74% to $125.1 million, with Fire Safety up 22% to $45.5 million and Specialty Products up 128% to $79.6 million.

Net income increased to $72.9 million, or $0.44 per diluted share, while adjusted net income was $9.0 million and adjusted diluted EPS was $0.06. Adjusted EBITDA climbed 128% to $41.2 million, supported by higher segment EBITDA in both Fire Safety and Specialty Products.

The company completed a $682.3 million cash acquisition of Medical Manufacturing Technologies funded by cash and new senior secured notes, contributing to higher long-term debt and significant cash outflows in the quarter.

Positive

  • Rapid top-line growth and stronger profitability: Q1 2026 net sales increased 74% to $125.1 million, while adjusted EBITDA rose 128% to $41.2 million, with both Fire Safety and Specialty Products delivering significantly higher segment EBITDA.
  • Improving adjusted earnings metrics: Adjusted net income more than doubled to $9.0 million and adjusted diluted EPS rose to $0.06 from $0.03, reflecting better underlying performance after normalizing for non-recurring items.

Negative

  • Higher leverage from major acquisition: The $682.3 million cash purchase of Medical Manufacturing Technologies, funded partly with new senior secured notes, contributed to long-term debt rising to $1.21 billion as of March 31, 2026.
  • Negative operating cash flow in the quarter: Net cash used in operating activities was $88.9 million, driven by factors including founders advisory fee cash settlements and working capital movements, contrasting with positive operating cash flow in the prior-year period.

Insights

Q1 2026 shows rapid growth and margin expansion, offset by higher leverage.

Perimeter Solutions delivered a 74% jump in net sales to $125.1 million, with Specialty Products more than doubling. Adjusted EBITDA rose 128% to $41.2 million, indicating stronger profitability even after higher cost of goods sold and operating expenses.

The acquisition of Medical Manufacturing Technologies for $682.3 million materially expands the Specialty Products segment but pushed long-term debt to $1.21 billion as of March 31, 2026. Net cash used in operating and investing activities reflects acquisition-related payments and founders advisory fee settlements.

Reported diluted EPS of $0.44 and adjusted diluted EPS of $0.06 highlight the sizable impact of non-cash and non-recurring items, including founders advisory fees and purchase accounting. Future filings will clarify how the acquired MMT business contributes to organic growth and cash generation.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net sales $125.1 million Three months ended March 31, 2026; up 74% year over year
Net income $72.9 million Three months ended March 31, 2026 vs $56.7 million in 2025
Adjusted EBITDA $41.2 million Q1 2026, up from $18.1 million in prior-year quarter
Adjusted net income $9.0 million Three months ended March 31, 2026; Adjusted EPS $0.06
MMT acquisition price $682.3 million Cash purchase of Medical Manufacturing Technologies on January 22, 2026
Long-term debt $1.21 billion Long-term debt, net, as of March 31, 2026
Net cash from operating activities -$88.9 million Net cash used in operating activities in Q1 2026
Capital expenditures $5.8 million Invested in property and equipment during quarter ended March 31, 2026
Adjusted EBITDA financial
"Adjusted EBITDA increased 128% to $41.2 million in the first quarter"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Segment Adjusted EBITDA financial
"Segment Adjusted EBITDA are defined as income (loss) before income taxes plus net interest"
Segment adjusted EBITDA is a measure of how much profit a specific part of a company generates from its everyday operations, before counting interest, taxes, depreciation, amortization and one‑off items. Investors use it like checking the fuel efficiency of one car in a fleet: it helps compare which business lines truly earn money, evaluate trend performance, and decide where to invest or cut costs without distortions from financing or accounting choices.
Adjusted Earnings Per Share financial
"The computation of Adjusted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income divided by adjusted diluted shares"
Adjusted Earnings Per Share shows how much profit a company makes for each share of stock, but it removes unusual or one-time items like big expenses or gains. This helps investors see the company's true ongoing performance, making it easier to compare how well different companies are doing over time.
purchase accounting impact financial
"Purchase accounting impact (2) | For the three months ended March 31, 2026, $5.6 million was primarily related"
Founders advisory fees financial
"Founders advisory fees - related party | (76,378) | | | (80,613)"
senior secured notes offering financial
"funded with cash on hand and proceeds from a senior secured notes offering"
Net sales $125.1 million +74% vs prior-year quarter
Net income $72.9 million up from $56.7 million in prior-year quarter
Adjusted EBITDA $41.2 million up from $18.1 million in prior-year quarter
Adjusted diluted EPS $0.06 vs $0.03 in prior-year quarter
Understanding 8-K Material Events →
FALSE000188031900018803192026-05-062026-05-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2026
PERIMETER SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-41027 33-2098357
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS. Employer
Identification No.)
8000 Maryland Avenue, Suite 350
Clayton, Missouri 63105
(Address of principal executive offices, including zip code)
(314) 396-7343
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class 
Trading
Symbol(s)
 
Name of each exchange
on which registered
Common Stock, par value $0.0001 per share PRM New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02     Results of Operations and Financial Condition.
On May 6, 2026, Perimeter Solutions, Inc. (the "Company") issued a press release announcing its financial results for its fiscal quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1.
The information furnished under this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01     Financial Statements and Exhibits.
(d)Exhibits
The following exhibits are being furnished as part of this Current Report on Form 8-K.
Exhibit
No.
 Description
99.1
 
Press release issued by Perimeter Solutions, Inc. on May 6, 2026.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Perimeter Solutions, Inc.
Date: May 6, 2026
By:/s/ Kyle Sable
Kyle Sable
Chief Financial Officer






Exhibit 99.1
Perimeter Solutions Reports First Quarter 2026 Financial Results
May 6, 2026
First quarter Net Income of $72.9M and Adjusted Net Income of $9.0M
Continued value driver execution and recent acquisitions drove first quarter Adjusted EBITDA of $41.2M
First quarter Earnings Per Diluted Share of $0.44 and Adjusted Earnings Per Diluted Share of $0.06
Entered into key five-year contracts with the United States Defense Logistics Agency for suppressants and with California Department of Forestry for retardants in April 2026
Clayton, Missouri, May 6, 2026 – Perimeter Solutions, Inc. (NYSE: PRM) (“Perimeter,” “Perimeter Solutions,” or the “Company”), a leading provider of industrial products and services that support critical and complex customer missions across a range of niche applications, today reported financial results for its first quarter ended March 31, 2026.
First Quarter 2026 Results
•Net sales increased 74% to $125.1 million in the first quarter, as compared to $72.0 million in the prior year quarter.
•Fire Safety net sales increased 22% to $45.5 million, as compared to $37.1 million in the prior year quarter.
•Specialty Products net sales increased 128% to $79.6 million, as compared to $34.9 million in the prior year quarter.
•Net income during the first quarter was $72.9 million, or $0.44 earnings per diluted share, as compared to net income of $56.7 million, or $0.36 earnings per diluted share in the prior year quarter.
•First quarter non-GAAP adjusted earnings per diluted share was $0.06, as compared to non-GAAP adjusted earnings per diluted share of $0.03 in the prior year quarter.
•Adjusted EBITDA increased 128% to $41.2 million in the first quarter, as compared to $18.1 million in the prior year quarter.
•Fire Safety Segment Adjusted EBITDA increased 85% to $18.7 million, as compared to $10.1 million in the prior year quarter.
•Specialty Products Segment Adjusted EBITDA increased 181% to $22.5 million, as compared to $8.0 million in the prior year quarter.
•Reconciliation tables for non-GAAP measures are available in the attached schedules.
Capital Allocation
•On January 22, 2026, the Company acquired the outstanding capital stock of Medical Manufacturing Technologies, LLC (“MMT”) for a total cash purchase price, net of cash acquired of $682.3 million which was funded with cash on hand and proceeds from a senior secured notes offering. MMT is included within the Specialty Products segment.
•The Company invested $5.8 million in capital expenditures during the quarter ended March 31, 2026.






Conference Call and Webcast
As previously announced, Perimeter Solutions management will hold a conference call at 8:30 a.m. ET on Wednesday, May 6, 2026 to discuss financial results for the first quarter 2026. The conference call can be accessed by dialing (877) 407-9764 (toll-free) or (201) 689-8551 (toll).
The conference call will also be webcast simultaneously on Perimeter’s website (https://ir.perimeter-solutions.com), accessed under the Investor Relations page. The webcast link will be made available on the Company's website prior to the start of the call; go to the investor relations page of our website to the News & Events menu and click on “Events & Presentations.”
A slide presentation will also be available for reference during the conference call; go to the investor relations page of our website to the News & Events menu and click on “Events & Presentations.”
Following the live webcast, a replay will be available on the Company’s website. A telephonic replay will also be available approximately three hours after the call and can be accessed by dialing (877) 660-6853 (toll-free) or (201) 612-7415 (toll) and using Access ID “13758345”. The telephonic replay will be available until June 6, 2026 (11:59 p.m. ET).
About Perimeter Solutions
Perimeter Solutions (NYSE: PRM) is a leading provider of industrial products and services that support critical and complex customer missions across a range of niche applications. Perimeter’s focus on superior customer service, paired with our Value Driver-focused operating strategy, decentralized operating model, and focus on driving value via capital allocation and capital structure management, fulfills our dual mandate: to serve customers and create value for stockholders. Perimeter is comprised of two segments, Fire Safety, including fire retardants and fire suppressants, and Specialty Products, which currently spans lubricant additives, electronic and electro-mechanical components, and highly engineered machinery for the medical device industry. Perimeter expects to continue expanding its portfolio through organic growth and value creating acquisitions.
Forward-looking Information
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods.
Any such forward-looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. Although Perimeter believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results and cause them to differ materially from those anticipated in any forward-looking statements, including the risk factors described from time to time by us in our filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Stockholders, potential investors and other readers should consider these factors carefully in evaluating the forward-looking statements.
Any forward-looking statement made by Perimeter in this press release speaks only as of the date on which it is made. Perimeter undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Perimeter Solutions, Inc.
CONTACT: ir@perimeter-solutions.com






PERIMETER SOLUTIONS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations and Comprehensive Income
(in thousands, except share and per share data)
(Unaudited)
Three Months Ended March 31,
20262025
Net sales$125,069 $72,030 
Cost of goods sold74,282 43,877 
Gross profit50,787 28,153 
Operating expenses (income):
Selling, general and administrative expense23,061 16,299 
Amortization expense22,599 14,099 
Founders advisory fees - related party(76,378)(80,613)
Other operating expense9,018 561 
Total operating income(21,700)(49,654)
Operating income72,487 77,807 
Other expense (income):
Interest expense, net24,356 9,644 
Foreign currency gain(1,351)(1,159)
Other (income) expense, net(364)143 
Total other expense, net22,641 8,628 
Income before income taxes49,846 69,179 
Income tax benefit (expense)23,090 (12,493)
Net income72,936 56,686 
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments(6,566)7,885 
Total comprehensive income$66,370 $64,571 
Earnings per share:
Basic$0.47 $0.38 
Diluted$0.44 $0.36 
Weighted average number of shares outstanding:
Basic153,863,650 148,556,284 
Diluted165,074,373 156,727,696 







PERIMETER SOLUTIONS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands, except share data)

 March 31, 2026December 31, 2025
ASSETS(Unaudited)
Current assets:
Cash and cash equivalents$91,624 $325,927 
Accounts receivable, net87,536 64,363 
Inventories191,026 139,634 
Prepaid expenses and other current assets27,987 34,049 
Total current assets398,173 563,973 
Property, plant and equipment, net101,296 85,138 
Operating lease right-of-use assets37,297 30,152 
Finance lease right-of-use assets5,490 5,713 
Goodwill1,365,415 1,065,211 
Customer lists, net 924,377 628,189 
Technology and patents, net200,318 184,804 
Tradenames, net125,297 86,330 
Other assets, net6,715 3,497 
Total assets$3,164,378 $2,653,007 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$38,408 $30,301 
Accrued expenses and other current liabilities61,322 47,212 
Founders advisory fees payable - related party25,839 95,726 
Deferred revenue3,322 1,879 
Total current liabilities128,891 175,118 
Long-term debt, net1,209,650 669,122 
Operating lease liabilities, net of current portion32,858 27,860 
Finance lease liabilities, net of current portion5,560 5,694 
Deferred income taxes121,788 80,410 
Founders advisory fees payable - related party 338,480 440,697 
Preferred stock117,753 115,904 
Preferred stock - related party586 1,293 
Other non-current liabilities3,963 3,590 
Total liabilities1,959,529 1,519,688 
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.0001 par value per share, 4,000,000,000 shares authorized; 188,505,219 and 174,818,216 shares issued; 163,127,063 and 149,440,060 shares outstanding at March 31, 2026 and December 31, 2025, respectively19 17 
Treasury stock, at cost; 25,378,156 shares at March 31, 2026 and December 31, 2025(168,197)(168,197)
Additional paid-in capital2,106,116 2,100,958 
Accumulated other comprehensive loss(12,936)(6,370)
Accumulated deficit(720,153)(793,089)
Total stockholders’ equity1,204,849 1,133,319 
Total liabilities and stockholders’ equity$3,164,378 $2,653,007 






PERIMETER SOLUTIONS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Three Months Ended March 31,
20262025
Cash flows from operating activities:
Net income$72,936 $56,686 
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Founders advisory fees - related party (change in fair value)(76,378)(80,613)
Depreciation and amortization expense27,139 16,893 
Interest and payment-in-kind on preferred stock1,904 1,833 
Stock-based compensation2,598 2,671 
Non-cash lease expense2,513 1,395 
Deferred income taxes(27,055)8,927 
Amortization of deferred financing costs709 444 
Foreign currency gain(1,351)(1,159)
Loss on disposal of assets17 3 
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable3,424 11,830 
Inventories(3,099)2,145 
Prepaid expenses and current other assets878 766 
Accounts payable(976)(3,513)
Deferred revenue219 4,564 
Income taxes payable, net5,338 1,660 
Accrued expenses and other current liabilities2,399 7,253 
Founders advisory fees - related party (cash settled)(95,726)(6,677)
Operating lease liabilities(1,903)(994)
Finance lease liabilities(119)(127)
Other, net(2,428)(241)
Net cash (used in) provided by operating activities(88,961)23,746 
Cash flows from investing activities:
Purchase of property and equipment(5,801)(4,813)
Purchase of businesses, net of cash acquired(682,294)(10,000)
Net cash used in investing activities(688,095)(14,813)
Cash flows from financing activities:
Common stock repurchased— (8,183)
Proceeds from exercises of options3,000 41 
Principal payments on finance lease obligations(179)(251)
Proceeds from issuance of long-term debt550,000 — 
Payment of debt issuance costs(10,057)— 
Net cash provided by (used in) financing activities542,764 (8,393)
Effect of foreign currency on cash and cash equivalents(11)1,054 
Net change in cash and cash equivalents(234,303)1,594 
Cash and cash equivalents, beginning of period325,927 198,456 
Cash and cash equivalents, end of period$91,624 $200,050 
Supplemental disclosures of cash flow information:
Cash paid for interest$154 $6 
Cash (received) paid for income taxes$(2,034)$530 







Non-GAAP Financial Metrics

The Company provides non-GAAP financial measures for Adjusted EBITDA, Segment Adjusted EBITDA, Adjusted Net Income, and Adjusted Earnings Per Share data as supplemental information regarding the Company’s business performance. The Company believes that these non-GAAP financial measures are useful to investors because they provide investors with a better understanding of the Company’s past financial performance and future results. The Company’s management uses these non-GAAP financial measures when it internally evaluates the performance of its business and makes operating decisions, including internal operating budgeting, performance measurement, and discretionary compensation.

Adjusted EBITDA and Segment Adjusted EBITDA

Adjusted EBITDA and Segment Adjusted EBITDA are defined as income (loss) before income taxes plus net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recurring, unusual or non-operational items. These items include (i) restructuring, (ii) acquisition related costs, (iii) founder advisory fee expenses, (iv) stock-based compensation expense, (v) purchase accounting impact and (vi) foreign currency loss (gain). To supplement the Company’s condensed consolidated financial statements presented in accordance with U.S. GAAP, Perimeter is providing a summary to show the computations of Adjusted EBITDA and Segment Adjusted EBITDA, which are non-GAAP measures used by the Company's management and by external users of Perimeter’s financial statements, such as debt and equity investors, commercial banks and others, to assess the Company’s operating performance as compared to that of other companies, without regard to financing methods, capital structure or historical cost basis. Adjusted EBITDA and Segment Adjusted EBITDA should not be considered an alternative to net income (loss), operating income (loss), cash flows provided by (used in) operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP (in thousands).


(Unaudited)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Fire SafetySpecialty
Products		TotalFire SafetySpecialty
Products		Total
Income (loss) before income taxes$62,127 $(12,281)$49,846 $58,878 $10,301 $69,179 
Depreciation and amortization14,492 12,647 27,139 12,765 4,128 16,893 
Interest and financing expense10,455 13,901 24,356 5,954 3,690 9,644 
Founders advisory fees - related party(66,890)(9,488)(76,378)(69,327)(11,286)(80,613)
Non-recurring expenses (1)
132 259 391 234 673 907 
Acquisition costs10 8,958 8,968 — 561 561 
Stock-based compensation expense716 1,882 2,598 1,576 1,095 2,671 
Purchase accounting impact (2)
— 5,590 5,590 — — — 
Foreign currency (gain) loss(2,351)1,000 (1,351)5 (1,164)(1,159)
Segment Adjusted EBITDA$18,691 $22,468 $41,159 $10,085 $7,998 $18,083 

(1)
For the three months ended March 31, 2026, $0.3 million was related to litigation costs arising from a contractual dispute regarding control of the P2S5 facility, which is currently operated by Flexsys Chemical Company, and $0.1 million was related to restructuring and other non-recurring costs. For the three months ended March 31, 2025, $0.5 million was related to restructuring and other non-recurring costs, and $0.4 million was related to the Redomiciliation Transaction.

(2)For the three months ended March 31, 2026, $5.6 million was primarily related to the impact of purchase accounting on the cost of inventory sold. The inventory acquired received a purchase accounting step-up in basis.










Adjusted Net Income and Adjusted Earnings Per Share

The computation of Adjusted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income divided by adjusted diluted shares. Adjusted Net Income is defined as net income (loss) plus amortization, certain non-recurring, unusual or non-operational items, and the tax impact of these non-GAAP adjustments. These adjustments include (i) restructuring, (ii) acquisition related costs, (iii) founder advisory fee expenses, (iv) stock-based compensation expense, (v) purchase accounting impact and (vi) foreign currency loss (gain). Adjusted diluted shares is the weighted average diluted shares outstanding, adjusted by adding dilution for options excluded under U.S. GAAP due to a net loss, less dilution related to founders advisory fees. To supplement the Company’s condensed consolidated financial statements presented in accordance with U.S. GAAP, Perimeter is providing a summary to show the computations of Adjusted Net Income and Adjusted EPS, which are non-GAAP measures used by the Company's management and by external users of Perimeter’s financial statements, such as debt and equity investors, commercial banks and others, to assess the Company's operating performance as compared to that of other companies, without regard to financing methods, capital structure or historical cost basis. Adjusted EPS and Adjusted Net Income should not be considered alternatives to GAAP earnings (loss) per share (“GAAP EPS”), net income (loss), operating income (loss), cash flows provided by (used in) operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP (in thousands, except share and per share data).

(Unaudited)Three Months Ended March 31,
20262025
GAAP net income$72,936 $56,686 
Adjustments:
Amortization22,599 14,099 
Founders advisory fees - related party(76,378)(80,613)
Non-recurring expenses (1)
391 907 
Acquisition costs8,968 561 
Stock-based compensation expense2,598 2,671 
Purchase accounting impact (2)
5,590 — 
Foreign currency gain(1,351)(1,159)
Tax impact of non-GAAP adjustments (3)
(26,319)10,937 
Adjusted net income$9,034 $4,089 
Shares used in computing GAAP Earnings Per Share (diluted)165,074,373 156,727,696 
Options (4)
— — 
Shares underlying Founders fixed advisory fees (5)
(4,714,122)(7,071,183)
Shares underlying Founders variable advisory fees (6)
— — 
Shares used in computing Adjusted Earnings Per Share (diluted)160,360,251 149,656,513 
GAAP Earnings Per Share (diluted)$0.44 $0.36 
Adjusted Earnings Per Share (diluted)$0.06 $0.03 
____________________
(1)
For the three months ended March 31, 2026, $0.3 million was related to litigation costs arising from a contractual dispute regarding control of the P2S5 facility, which is currently operated by Flexsys Chemical Company, and $0.1 million was related to restructuring and other non-recurring costs. For the three months ended March 31, 2025, $0.5 million was related to restructuring and other non-recurring costs, and $0.4 million was related to the Redomiciliation Transaction.
(2)For the three months ended March 31, 2026, $5.6 million was primarily related to the impact of purchase accounting on the cost of inventory sold. The inventory acquired received a purchase accounting step-up in basis.
(3) The tax impact of non-GAAP adjustments reflects the total income tax expense commensurate with the non-GAAP measure of profitability.
(4)The Company adds back the dilutive impact of options if amounts were excluded for purposes of GAAP EPS due to a GAAP net loss during the period.
(5)
As of March 31, 2026, a maximum of 2.4 million shares were issuable within 12 months under the Founders fixed advisory fee.
(6)
Based on period end market prices as of March 31, 2026, no shares were issuable within 12 months under the Founders variable advisory fee.


Source: View Original Filing on SEC EDGAR

FAQ

How did Perimeter Solutions (PRM) perform financially in Q1 2026?

Perimeter Solutions delivered strong Q1 2026 results, with net sales rising 74% to $125.1 million and net income reaching $72.9 million. Adjusted EBITDA increased 128% to $41.2 million, while adjusted net income was $9.0 million and adjusted diluted EPS was $0.06.

What drove revenue growth for Perimeter Solutions (PRM) in Q1 2026?

Revenue growth was broad-based. Fire Safety net sales increased 22% to $45.5 million, while Specialty Products net sales surged 128% to $79.6 million. These gains, supported by recent acquisitions, pushed total net sales to $125.1 million for the quarter ended March 31, 2026.

How profitable was Perimeter Solutions (PRM) in Q1 2026 on a GAAP and non-GAAP basis?

Perimeter Solutions reported GAAP net income of $72.9 million, or $0.44 per diluted share, in Q1 2026. On a non-GAAP basis, adjusted net income was $9.0 million and adjusted diluted EPS was $0.06, after adjustments for amortization, founders fees, acquisition costs, and other items.

What is Perimeter Solutions’ (PRM) adjusted EBITDA and segment performance for Q1 2026?

Adjusted EBITDA for Q1 2026 was $41.2 million, up from $18.1 million a year earlier. Fire Safety Segment Adjusted EBITDA increased to $18.7 million, while Specialty Products Segment Adjusted EBITDA rose to $22.5 million, reflecting strong contributions from both segments.

What major acquisition did Perimeter Solutions (PRM) complete in early 2026?

On January 22, 2026, Perimeter Solutions acquired Medical Manufacturing Technologies, LLC for a total cash purchase price of $682.3 million, net of cash acquired. The transaction was funded with cash on hand and proceeds from a senior secured notes offering and is included in Specialty Products.

How did the Medical Manufacturing Technologies acquisition affect Perimeter Solutions’ (PRM) balance sheet?

The acquisition significantly increased total assets, including goodwill and intangibles, and contributed to long-term debt rising to $1.21 billion as of March 31, 2026. Cash and cash equivalents decreased to $91.6 million from $325.9 million at December 31, 2025.

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