Perimeter Solutions, Sa · NYSE:PRM
Perimeter Solutions, Sa — Q1 2025 Earnings Presentation
18 slides from Perimeter Solutions, Sa's earnings presentation, May 8, 2025
Slide 1: Perimeter Solutions, Inc. Q1 2025 Earnings
Perimeter Solutions, Inc. Q1 2025 Earnings May 8, 2025
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation and discussion are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on Perimeter Solutions, Inc.’s (the “Company”) expectations, intentions and projections regarding the Company’s fu
Slide 3: Three Elements Achieves Purpose
Three Elements Achieves Purpose Exceptional Value Creation Our Decentralization Product Lines Strategy Purpose Fire Safety / Operational Value Drivers Operating Autonomy Fulfill Mission Specialty Products ▪ Profitable New Business ▪ Mission Critical ▪ Productivity & Budget Accountability Deliver pri
Slide 4: Specialty Products - IMS
Specialty Products - IMS Specialty Industrials (IMS) • Repair/replacement and new components to Function support customers’ much larger product solutions (1) • Critical: proprietary products in complex systems • Complex: highly spec’d in, hard to manufacture Challenges • Integrated: IP ownership + e
Slide 5: Operational Developments
Operational Developments Fire Retardants Fire Suppressants Specialty Chemicals Specialty Industrials (IMS) 5
Slide 6: Q1 2025 Financial Summary
Q1 2025 Financial Summary ($000) Q1 '24 Q1 '25 y/y Fire Safety Revenue 25,155 37,163 48% Adjusted EBITDA (241) 10,085 4285% Adjusted EBITDA Margin -1% 27% Specialty Products Revenue 33,889 34,867 3% Adjusted EBITDA 12,377 7,998 -35% Adjusted EBITDA Margin 37% 23% Consolidated Revenue 59,044 72,030 2
Slide 7: Long-Term Assumptions
Long-Term Assumptions Item Forward-Looking Assumption Interest Expense ~$40M annually Tax-deductible D&A and other ~$20-25M annually Cash Tax Rate (1) ~20-25% Capital Expenditures ~$15-20M annually Annual Change In Working Capital ~10% of revenue growth Current Basic Shares Outstanding ~148.8M (2) (
Slide 8: Capital Allocation Priorities
Capital Allocation Priorities Priority Q1 ‘25 ▪ Support our customers’ mission Capex ✓ $4.8M ▪ Drives Profitable New Business and Productivity M&A ▪ Acquiror advantage from Value Drivers implementation ✓ $10.0M Share ▪ Repurchase shares when compelling opportunities arise ✓ $8.2M Buybacks Special ✓
Slide 9: Senior Secured Notes
Attractive Debt Profile, Ample Liquidity Maturity Schedule $800M $700M $675M Debt $600M 5% fixed rate $500M Senior Secured Notes $400M $300M $200M $100M $0M $0M $0M $0M $0M 2025 2026 2027 2028 2029 • NO financial maintenance covenants • 1.7x net debt to LTM Adjusted EBITDA $ • $200.1M cash (as of Q1
Slide 10: Appendix
Appendix
Slide 11: Incentive Alignment
Incentive Alignment Stock Options • Approximately 17.8M stock options granted to management, employees, and directors are outstanding as of March 31, 2025 • Vest over five years based on intrinsic share price growth Founders Advisory Agreement (pertaining to the EverArc Founders) • Fixed Annual Advi
Slide 12: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted EBITDA & Adjusted EBITDA Margin The computation of Adjusted EBITDA is defined as income (loss) before income taxes plus net interest and other financing expenses, and depreciation and amortization, adjusted on a consistent basis for certain non-recu
Slide 13: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) (1) For the three months ended March 31, 2025, $0.6 million was related to acquisition costs, $0.4 million was related to the Redomiciliation Transaction and $0.5 million was related to restructuring and other non-recurring costs. For the three months ended
Slide 14: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share The computation of Adjusted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income (loss) divided by adjusted diluted shares. Adjusted Net Income is defined as net income (loss) plus amortization, certain non-recurr
Slide 15: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Adjusted Earnings Per Share 15
Slide 16: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Last Twelve Months (“LTM”) Adjusted EBITDA Net Debt to LTM Adjusted EBITDA 16
Slide 17: Non-GAAP Financial Metrics (Consolidated)
Non-GAAP Financial Metrics (Consolidated) Free Cash Flow 17
Slide 18: Thank You!
Thank You! NOTICE: Although the information and recommendations set forth herein (hereinafter “Information”) are presented in good faith and believed to be correct as of the date hereof, Perimeter Solutions/Solberg/Auxquimia (the “Company”) makes no representations or warranties as to the completene