Perimeter Solutions, SA (NYSE: PRM), a leading global solutions provider for the Fire Safety and Specialty Products industries, saw its stock plummet 5.19% on Thursday despite reporting strong revenue growth in its fourth quarter and full year 2024 results.

The company reported a 74% year-over-year increase in net sales to $561.0 million for the full year 2024, driven by a 93% jump in Fire Safety segment sales to $436.3 million. However, the impressive top-line growth was offset by a significant increase in founder advisory fees, which surged to $198.3 million for the year, compared to a negative $108.5 million in 2023.

While Perimeter Solutions posted an adjusted EBITDA of $280.3 million, nearly tripling from the prior year, the company reported a net loss of $5.9 million, or $0.04 per diluted share, attributable to the founder advisory fees and other non-recurring expenses related to its redomiciliation transaction and Luxembourg-related costs.