Filing Flows › Target Hospitality (TH) › Q3 2026 › vs Q2 2026
Target Hospitality (TH) Q3 2026 vs Q2 2026 (quarter over quarter)
Target Hospitality's revenue rose $43.6M (+51%) from $85.5M in Q2 2026 to $129M in Q3 2026.
Target Hospitality, Q3 2026: revenue $129M (+30% year over year), operating margin 2.3%, net loss $9.2M, operating cash flow $43.2M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 33.0% | 112.6% | -79.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $129M | $85.5M | $43.6M | +51% |
| Net loss | $9.2M | $9.0M | $203K | +2% |
| Costs & expenses | $138M | $94.4M | $43.8M | +46% |
| Operating costs | $126M | $93.0M | $33.1M | +36% |
| Interest & other, net | $4.1M | $1.0M | $3.1M | +310% |
| Income tax | $8.0M | $473K | $7.5M | 17× |
| Cost of revenue | $99.6M | $69.7M | $29.9M | +43% |
| SG&A | $19.3M | $18.8M | $554K | +3% |
| Other operating costs | $7.2M | $4.5M | $2.7M | +59% |
| Operating cash sources | $52.4M | $111M | −$58.3M | -53% |
| Depreciation | $22.2M | $21.5M | $655K | +3% |
| Working capital & other | $30.2M | $89.1M | −$58.9M | -66% |
| Net loss absorbed | $9.2M | $9.0M | $203K | +2% |
| Operating cash flow | $43.2M | $104M | −$60.8M | -58% |
| Free cash flow (OCF − capex) | $42.5M | $96.2M | −$53.6M | -56% |
| Capital expenditures | $632K | $7.8M | −$7.2M | -92% |
Questions
How much did Target Hospitality's revenue grow quarter over quarter in Q3 2026?
Target Hospitality's revenue rose $43.6M (+51%) from $85.5M in Q2 2026 to $129M in Q3 2026.