NASDAQ: RMIX
Suncrete, Inc.CIK 0002094433 · SIC 3272 · Concrete Products, Except Block & Brick
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Suncrete (RMIX) registers 52.3M Class A shares for resale by selling stockholders; no proceeds to company
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Suncrete posts -$37.1M net loss in first quarter as public company; five acquisitions total
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Suncrete adds dual listing on Nasdaq Texas, maintains primary Nasdaq Global Market listing
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Suncrete (RMIX) announces Q1 2026 financial results in press release
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net income -$31,000. Suncrete debuts via SPAC merger, deploys + across four acquisitions in six months
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Suncrete acquires Nelson Bros. Ready Mix for $42.3M cash plus 1.3M shares
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Suncrete acquires ready-mix company for 259,291 shares plus up to $10M earnout
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 97,231 | 39,496 | 159,059 | 77,235 |
| Cost of Goods Sold | 68,920 | 26,781 | 110,975 | 51,146 |
| Gross Profit | 28,311 | 12,715 | 48,084 | 26,089 |
| Operating Expenses: | ||||
| Selling, general, and administrative expenses(1) | 24,765 | 9,857 | 41,390 | 19,491 |
| Acquisition-related costs(2) | 12,188 | — | 13,144 | — |
| Loss on disposal of assets, net | 86 | 40 | 86 | 120 |
| Total operating expenses | 37,039 | 9,897 | 54,620 | 19,611 |
| Operating income (loss) | (8,728) | 2,818 | (6,536) | 6,478 |
| Other income (expense): | ||||
| Other income (expense)(3) | (26,950) | (498) | (26,876) | (483) |
| Interest expense, net | (4,027) | (2,645) | (8,042) | (5,253) |
| Total other expense | (30,977) | (3,143) | (34,918) | (5,736) |
| Income (loss) before income taxes | (39,705) | (325) | (41,454) | 742 |
| Income tax benefit | (2,595) | — | (2,595) | — |
| Net income (loss) | (37,110) | (325) | (38,859) | 742 |
| Distributions to senior preferred unitholders | (628) | (577) | (1,226) | (1,167) |
| Series A preferred stock dividends | (540) | — | (540) | — |
| Accretion of redeemable preferred units to redemption value | (10,625) | (3,710) | (13,845) | (6,172) |
| Net loss attributable to common stockholders | (48,903) | (4,612) | (54,470) | (6,597) |
| Weighted average common shares outstanding basic and diluted | 67,519,137 | 19,093,562 | 43,440,122 | 19,093,562 |
| Basic and diluted loss per common stock | (0.72) | (0.24) | (1.25) | (0.35) |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 28,632 | 6,333 |
| Accounts receivable, net | 69,361 | 33,699 |
| Inventory | 24,204 | 8,723 |
| Other current assets | 15,555 | 5,047 |
| Total current assets | 137,752 | 53,802 |
| Property, plant and equipment: | ||
| Property, plant and equipment, at cost | 281,422 | 168,767 |
| Less: accumulated depreciation | (27,142) | (15,930) |
| Property, plant and equipment, net | 254,280 | 152,837 |
| Goodwill | 152,983 | 79,505 |
| Customer relationships, net | 84,910 | 71,373 |
| Trade name | 46,874 | 24,800 |
| Other noncurrent assets, net | 22,632 | 2,385 |
| Total assets | 699,431 | 384,702 |
| Liabilities, Redeemable Mezzanine Equity and Stockholders' Equity (Deficit) | ||
| Current liabilities: | ||
| Accounts payable | 35,331 | 12,558 |
| Accrued liabilities | 43,547 | 27,080 |
| Current portion of lease liabilities | 2,275 | 475 |
| Long-term debt, current portion | 17,370 | 13,654 |
| Total current liabilities | 98,523 | 53,767 |
| Long-term lease liability | 13,366 | 1,727 |
| Deferred income taxes | 21,785 | — |
| Other long-term liabilities | 6,650 | — |
| Long-term debt, net | 201,103 | 186,625 |
| Total liabilities | 341,427 | 242,119 |
| Commitments and contingencies (Note 17) | ||
| Redeemable mezzanine equity: | ||
| Redeemable senior preferred units, zero and 26,000,000 units issued and outstanding (at redemption value) at June 30, 2026 and December 31, 2025, respectively | — | 26,590 |
| Redeemable preferred units, zero and 115,700,000 units issued and outstanding (at redemption value) at June 30, 2026 and December 31, 2025, respectively | — | 130,623 |
| Stockholders' Equity (Deficit): | ||
| Series A Preferred Stock, $0.0001 par value, $1,000 stated value per share; 10,000,000 shares authorized, 26,000 and zero shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | — | — |
| Class A common stock, $0.0001 par value; 400,000,000 shares authorized, 49,339,225 and 11,023,435 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 5 | 1 |
| Class B common stock, $0.0001 par value; 100,000,000 shares authorized, 24,146,609 and 11,551,903 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 2 | 1 |
| Accumulated deficit | (57,892) | (14,632) |
| Additional paid-in capital | 415,889 | — |
| Total stockholders' equity (deficit) | 358,004 | (14,630) |
| Total liabilities, redeemable mezzanine equity and stockholders' equity (deficit) | 699,431 | 384,702 |
Condensed Consolidated Statements of Cash Flows
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net income (loss) | (38,859) | 742 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 15,819 | 8,337 |
| Loss on disposal of assets, net | 86 | 120 |
| Non-cash lease expense | 229 | 76 |
| Non-cash share-based compensation | 1,084 | 267 |
| Non-cash contract asset reduction | 486 | — |
| Deferred income taxes | (2,555) | — |
| Non-cash expense for Class B shares issued to an affiliated equity holder | 26,875 | — |
| Non-cash debt issuance cost amortization | 344 | 244 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | ||
| Accounts receivable, net | (8,421) | 218 |
| Inventory | 4,175 | (494) |
| Other current assets | (1,330) | (168) |
| Other noncurrent assets, net | (169) | — |
| Accounts payable | (10,504) | 507 |
| Accrued liabilities | 357 | (125) |
| Net cash provided by (used in) operating activities | (12,383) | 9,724 |
| Cash Flows from Investing Activities: | ||
| Additions to property, plant and equipment | (10,011) | (9,416) |
| Cash paid for acquisitions, net of cash acquired | (174,054) | — |
| Proceeds from sales of property, plant and equipment | 45 | 123 |
| Net cash used in investing activities | (184,020) | (9,293) |
| Cash Flows from Financing Activities: | ||
| Borrowings of debt | 30,000 | — |
| Repayment of debt | (14,101) | (7,450) |
| Payment of debt issuance costs | (1,840) | — |
| Distributions on Redeemable Senior Preferred Units | (1,226) | (1,167) |
| Proceeds from issuance of shares to PIPE investors | 167,120 | — |
| Proceeds from merger financing | 8,179 | — |
| Proceeds from early termination of Forward Purchase Agreement | 56,744 | — |
| Payment of merger and recapitalization related transaction costs | (26,174) | — |
| Net cash provided by (used in) financing activities | 218,702 | (8,617) |
| Net change in cash and cash equivalents | 22,299 | (8,186) |
| Beginning cash and cash equivalents | 6,333 | 8,410 |
| Ending cash and cash equivalents | 28,632 | 224 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share amounts); (in thousands, except share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗