 THE WOODLANDS, Texas, May 24, 2021 PRNewswire -- Target Hospitality Corp. Target Hospitality, Target or the Company NASDAQ: TH, the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today reported results for the three months ended March 31, 2021. Financial and Operational Highlights for the First Quarter 2021 Revenue of 45.5 million for the three months ended March 31, 2021 as compared to 71.7 million for the same period in 2020 Net loss of 13.1 million for the three months ended March 31, 2021, compared to net income of 5.5 million for first quarter 2020 Basic and diluted loss per share of 0.14 for the three months ended March 31, 2021 Adjusted EBITDA1 of 16.0 million for the three months ended March 31, 2021, compared to 32.4 million for the same period in 2020 Continued strengthening customer demand with sequential quarterly utilization increasing 800 basis points in the first quarter of 2021 Executed a 118 million minimum revenue contract that provides a suite of comprehensive service offerings assisting humanitarian aid efforts in support of the United States Government Approximately 72 of 2021 revenue under committed revenue contracts, with approximately 54 of 2021 revenue related to Government Services As of May 24, 2021, reduced year-to-date 2021 outstanding borrowings on the Companys ABL by 21 million Increasing midpoint of 2021 Adjusted EBITDA outlook range 11 to 97 - 107 million from 88 - 95 million Executive Commentary Targets first quarter performance exemplifies the benefits of our strong operating position that allows us to serve our customers varying needs, while also expanding the end-markets we serve. 