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Perimeter Solutions SA (PRM+1.30%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports an increase in net sales to $288,417,000 from $142,658,000 in the same quarter the previous year, primarily driven by growth in the Fire Safety segment.
Cost of goods sold for the quarter was $107,195,000, compared to $72,825,000 in the same quarter of the previous year, reflecting increased labor, material, and freight costs.
The company reported a gross profit of $181,222,000 for the quarter, compared to $69,833,000 in the previous year.
Selling, general, and administrative expenses increased to $18,520,000 from $12,693,000, due to higher personnel and professional fees.
Net loss for the quarter was $89,167,000, compared to a net income of $19,282,000 in the previous year. The loss was impacted by a significant increase in founder advisory fees.
Cash provided by operating activities was $194,375,000, while cash used in investing and financing activities was $3,688,000 and $14,964,000, respectively.
Perimeter Solutions had cash and cash equivalents of $223,053,000 as of September 30, 2024, and no outstanding borrowings under its revolving credit facility.
The filing details a planned redomiciliation to Delaware, expected to be completed by December 31, 2024, subject to shareholder approval.
The company continues to focus on expanding its fire safety business and managing inflationary pressures through strategic supplier negotiations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Perimeter Solutions SA quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.