Perimeter Solutions, Inc. (PRM): Results of Operations and Financial Condition
Perimeter Solutions, Inc. (PRM) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Perimeter Solutions Reports Second Quarter 2026 Financial Results July 31, 2026 Second quarter Net Loss of $181.6M and Adjusted Net Income of $59.6M Continued Value Driver execution and recent acquisitions drove second quarter Adjusted EBITDA of $105.6M Second quarte
How this was made
The 30-second read
Why it matters
The filing provides fresh quarterly financial metrics and a specific M&A transaction with stated purchase price, funding source, and expected annualized Adjusted EBITDA, which are actionable inputs for valuation and positioning.
Market read
Traders can update models for PRM using the reported Q2/Year-to-date figures and the acquisition’s stated EBITDA contribution and multiple.
What to watch
Traders may need to scrutinize integration costs, acquisition funding terms, and whether Specialty Products growth is sustainable beyond the acquisition-driven step-up.
Second quarter Net Loss of $181.6M and Adjusted Net Income of $59.6M; Continued Value Driver execution and recent acquisitions drove second quarter Adjusted EBITDA of $105.6M
Net sales and Adjusted EBITDA increased year over year, led by Specialty Products, but the company reported a substantially larger GAAP net loss driven by founders advisory fees and higher operating expenses.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q2 2026 net salesGAAP | $213.8 million | – | increased 31% |
| Q2 2026 cost of goods soldGAAP | $ 95,942 (in thousands) | – | – |
| Q2 2026 gross profitGAAP | $ 117,868 (in thousands) | – | – |
| Q2 2026 selling, general and administrative expenseGAAP | $ 26,993 (in thousands) | – | – |
| Q2 2026 amortization expenseGAAP | $ 24,025 (in thousands) | – | – |
| Q2 2026 founders advisory fees - related partyGAAP | $ 266,255 (in thousands) | – | – |
| Q2 2026 other operating expenseGAAP | $ 3,614 (in thousands) | – | – |
| Q2 2026 total operating expensesGAAP | $ 320,887 (in thousands) | – | – |
| Q2 2026 operating lossGAAP | $ (203,019) (in thousands) | – | – |
| Q2 2026 interest expense, netGAAP | $ 19,593 (in thousands) | – | – |
| Q2 2026 net lossGAAP | $181.6 million | – | – |
| Q2 2026 loss per diluted shareGAAP | $1.11 loss per diluted share | – | – |
| Q2 2026 loss per basic shareGAAP | $ (1.11) | – | – |
| Q2 2026 adjusted net incomenon-GAAP | $59.6M | – | – |
| Q2 2026 adjusted earnings per diluted sharenon-GAAP | $0.35 | – | – |
| Q2 2026 Adjusted EBITDAnon-GAAP | $105.6 million | – | increased 16% |
| Year-to-date 2026 net salesGAAP | $338.9 million | – | increased 44% |
| Year-to-date 2026 gross profitGAAP | $ 168,655 (in thousands) | – | – |
| Year-to-date 2026 operating lossGAAP | $ (130,532) (in thousands) | – | – |
| Year-to-date 2026 net lossGAAP | $108.7 million | – | – |
| Year-to-date 2026 loss per diluted shareGAAP | $0.69 loss per diluted share | – | – |
| Year-to-date 2026 non-GAAP adjusted earnings per diluted sharenon-GAAP | $0.41 | – | – |
| Year-to-date 2026 Adjusted EBITDAnon-GAAP | $146.7 million | – | increased 34% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Fire Safety, Q2 2026Monaco is included within the Fire Safety segment. | $129.1 million | – | increased 7% |
| Specialty Products, Q2 2026Specialty Products currently spans lubricant additives, electronic and electro-mechanical components, and highly engineered machinery for the medical device industry. | $84.7 million | – | increased 100% |
| Fire Safety, year-to-date 2026Fire Safety Segment Adjusted EBITDA increased 11% to $97.5 million. | $174.5 million | – | increased 11% |
| Specialty Products, year-to-date 2026Specialty Products Segment Adjusted EBITDA increased 127% to $49.3 million. | $164.4 million | – | increased 113% |
What drove it
- Net sales increased 31% to $213.8 million in the second quarter.
- Specialty Products net sales increased 100% to $84.7 million and Specialty Products Segment Adjusted EBITDA increased 96% to $26.8 million.
- Continued Value Driver execution and recent acquisitions drove second quarter Adjusted EBITDA of $105.6M.
- The Company expects Monaco to contribute more than $11 million of annualized Adjusted EBITDA.
Concerns
- Net loss was $181.6 million, compared with a net loss of $32.2 million in the prior year quarter.
- Founders advisory fees - related party were $ 266,255 (in thousands), compared with $ 96,883 (in thousands) in the prior year quarter.
- Interest expense, net was $ 19,593 (in thousands), compared with $ 9,930 (in thousands) in the prior year quarter.
- Cash and cash equivalents were $ 82,776 (in thousands) at June 30, 2026, while long-term debt, net was $ 1,210,247 (in thousands).
What to watch
- Integration of Monaco, which was acquired on July 30, 2026 and is included within the Fire Safety segment.
- Monaco's expected contribution of more than $11 million of annualized Adjusted EBITDA.
- Founders advisory fees - related party and the related payable, which was $ 177,957 (in thousands) current and $ 452,617 (in thousands) non-current at June 30, 2026.
- The relationship between reported GAAP losses and non-GAAP Adjusted EBITDA.
Balance sheet and cash flow
- Cash and cash equivalents were $ 82,776 (in thousands) at June 30, 2026, compared with $ 325,927 (in thousands) at December 31, 2025.
- Long-term debt, net was $ 1,210,247 (in thousands) at June 30, 2026, compared with $ 669,122 (in thousands) at December 31, 2025.
- The Company invested $12.7 million in capital expenditures during the quarter ended June 30, 2026.
- On July 30, 2026, the Company acquired Monaco for a total cash purchase price, net of cash acquired of $120.0 million, funded with cash on hand and proceeds from existing credit facilities.
Analysis
Perimeter Solutions reported second-quarter net sales of $213.8 million, up 31% from $162.6 million in the prior year quarter. Growth was led by Specialty Products, where net sales increased 100% to $84.7 million, while Fire Safety net sales increased 7% to $129.1 million. Year-to-date net sales increased 44% to $338.9 million, with Specialty Products net sales up 113% to $164.4 million.
Adjusted EBITDA increased 16% to $105.6 million in the quarter. Fire Safety Segment Adjusted EBITDA increased 1% to $78.8 million, whereas Specialty Products Segment Adjusted EBITDA increased 96% to $26.8 million. For the year-to-date period, Adjusted EBITDA increased 34% to $146.7 million, with Specialty Products Segment Adjusted EBITDA increasing 127% to $49.3 million.
GAAP results were materially weaker. The company reported a net loss of $181.6 million, or $1.11 loss per diluted share, versus a $32.2 million net loss, or $0.22 loss per diluted share, in the prior year quarter. Total operating expenses were $ 320,887 (in thousands), including $ 266,255 (in thousands) of founders advisory fees - related party. Second-quarter non-GAAP adjusted earnings per diluted share were $0.35, compared with $0.39 in the prior year quarter.
Capital allocation centered on the July 30, 2026 acquisition of Monaco for a total cash purchase price, net of cash acquired of $120.0 million. The transaction was funded with cash on hand and proceeds from existing credit facilities, and the company expects Monaco to contribute more than $11 million of annualized Adjusted EBITDA at a purchase multiple of approximately 10.5x enterprise value to Adjusted EBITDA. At June 30, 2026, cash and cash equivalents were $ 82,776 (in thousands) and long-term debt, net was $ 1,210,247 (in thousands).
The release did not provide company financial guidance. The disclosed forward-looking operating item is Monaco's expected contribution of more than $11 million of annualized Adjusted EBITDA. Key reported items to monitor are Specialty Products' elevated growth contribution, Fire Safety's comparatively modest Adjusted EBITDA growth, founders advisory fees, interest expense, and the funding and integration of Monaco.
Not in the filing
stated, not guessed- Forward revenue, gross margin, operating expenses, tax-rate, EPS, or Adjusted EBITDA guidance
- Previous-period outlook for comparison with actual results
- Gross margin
- Operating cash flow
- Free cash flow
- Share repurchases
- Dividends
- Named executive commentary or executive quotes
- Quarter-over-quarter comparisons
- Prior-year comparison for Q2 2026 adjusted net income
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with Perimeter’s Q2 2026 financial results and a newly disclosed acquisition of Monaco Enterprises.
Ticker impact
Perimeter Solutions reported Q2 2026 results and disclosed a $120.0M cash acquisition of Monaco Enterprises, expected to add $11M+ annualized Adjusted EBITDA.
Likely supportive for the stock on acquisition multiple and EBITDA accretion narrative, but tempered by the large reported net loss.
Net sales and Adjusted EBITDA increased, while net loss widened; the acquisition terms (10.5x EV/EBITDA) and expected annualized EBITDA are concrete new inputs for traders to re-rate the business.
Market effects
Could modestly affect sentiment toward niche industrial safety and engineered components providers via read-through on deal activity and segment momentum.
No clear regional-specific impact beyond U.S.-focused government facilities exposure.
Limited, as the disclosure is company-specific and acquisition-focused.
Counterpoint
The headline net loss of $181.6M and lower adjusted EPS versus prior year could signal underlying profitability pressure despite Adjusted EBITDA growth.
Key entities
- public_companyPerimeter Solutions, Inc.
NYSE-listed industrial products and services provider filing Q2 2026 results and announcing the Monaco Enterprises acquisition.
- public_companyMonaco Enterprises, Inc.
Acquired entity, expected to contribute more than $11M annualized Adjusted EBITDA and included in the Fire Safety segment.
