Filing Flows › Target Hospitality (TH) › Q3 2026 › vs Q3 2025
Target Hospitality (TH) Q3 2026 vs Q3 2025 (year over year)
Target Hospitality's revenue rose $29.7M (+30%) from $99.4M in Q3 2025 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 33.0% | 53.7% | -20.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $129M | $99.4M | $29.7M | +30% |
| Net loss | $9.2M | $757K | $8.4M | 12× |
| Costs & expenses | $138M | $100M | $38.1M | +38% |
| Operating costs | $126M | $99.3M | $26.8M | +27% |
| Interest & other, net | $4.1M | $458K | $3.7M | +805% |
| Income tax | $8.0M | $368K | $7.6M | 22× |
| Cost of revenue | $99.6M | $81.4M | $18.1M | +22% |
| SG&A | $19.3M | $12.9M | $6.4M | +49% |
| Other operating costs | $7.2M | $5.0M | $2.3M | +46% |
| Operating cash sources | $52.4M | $52.2M | $173K | +0.3% |
| Depreciation | $22.2M | $18.5M | $3.7M | +20% |
| Working capital & other | $30.2M | $33.7M | −$3.6M | -11% |
| Net loss absorbed | $9.2M | $757K | $8.4M | 12× |
| Operating cash flow | $43.2M | $53.4M | −$10.2M | -19% |
| Free cash flow (OCF − capex) | $42.5M | $53.3M | −$10.8M | -20% |
| Capital expenditures | $632K | $49K | $583K | 13× |
Questions
How much did Target Hospitality's revenue grow year over year in Q3 2026?
Target Hospitality's revenue rose $29.7M (+30%) from $99.4M in Q3 2025 to $129M in Q3 2026.