CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 340,647	$ 198,456
Accounts receivable, net	106,688	56,048
Inventories	130,139	116,347
Prepaid expenses and other current assets	6,680	23,173
Total current assets	584,154	394,024
Property, plant and equipment, net	81,554	64,777
Operating lease right-of-use assets	31,281	17,298
Finance lease right-of-use assets	5,929	6,173
Goodwill	1,053,778	1,034,543
Intangible assets, net	888,214	898,417
Other assets, net	529	1,162
Total assets	2,645,439	2,416,394
Current liabilities:
Accrued expenses and other current liabilities	71,875	30,450
Deferred revenue	9,647	1,842
Total current liabilities	263,646	62,488
Long-term debt, net	668,778	667,774
Operating lease liabilities, net of current portion	28,824	15,540
Finance lease liabilities, net of current portion	5,831	6,013
Deferred income taxes	95,750	152,203
Founders advisory fees payable - related party	352,455	240,083
Other non-current liabilities	2,710	2,226
Total liabilities	1,534,091	1,259,124
Commitments and contingencies (Note 9)
Stockholder’s equity:
Common stock, $0.0001 par value per share, 4,000,000,000 shares authorized; 173,301,872 and 169,426,114 shares issued; 147,923,716 and 147,822,633 shares outstanding at September 30, 2025 and December 31, 2024, respectively	17	17
Treasury stock, at cost; 25,378,156 and 21,603,481 shares at September 30, 2025 and December 31, 2024, respectively	(168,197)	(127,827)
Additional paid-in capital	1,941,940	1,911,035
Accumulated other comprehensive loss	(9,554)	(39,232)
Accumulated deficit	(652,858)	(586,723)
Total stockholders’ equity	1,111,348	1,157,270
Total liabilities and stockholders’ equity	2,645,439	2,416,394
Nonrelated Party
Current liabilities:
Accounts payable	30,542	23,519
Preferred stock	113,416	109,966
Related Party
Current liabilities:
Accounts payable	151,582	6,677
Preferred stock	2,681	2,831
Customer lists, net
Current assets:
Intangible assets, net	620,636	637,745
Technology and patents, net
Current assets:
Intangible assets, net	183,112	173,307
Tradenames, net
Current assets:
Intangible assets, net	$ 84,466	$ 87,365

Perimeter Solutions, Inc. 10-Q