Mammoth Energy Services(TUSK) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2025 was $62.5 million, a 44.8% increase from $43.2 million in Q1 2024 and a 17.5% increase from $53.2 million in Q4 2024[6] - Net loss for Q1 2025 was $0.5 million, or $0.01 per diluted share, significantly improved from a net loss of $11.8 million, or $0.25 per diluted share, in Q1 2024[6] - Adjusted EBITDA for Q1 2025 was $2.7 million, compared to $4.5 million in Q1 2024 and a negative $4.8 million in Q4 2024[7] - Total revenue for the three months ended March 31, 2025, was $62,465,000, representing a 44.7% increase from $43,189,000 in the same period of 2024[28] - Net loss for the first quarter of 2025 was $537,000, a significant improvement compared to a net loss of $11,811,000 in Q1 2024[28] - The company reported a comprehensive loss of $518,000 for Q1 2025, significantly lower than the comprehensive loss of $12,055,000 in Q1 2024[28] - The net loss for the three months ended March 31, 2025, was $537 million, a significant improvement compared to a net loss of $11,811 million in the same period of 2024[35] Revenue Segmentation - Infrastructure services segment generated $30.7 million in revenue for Q1 2025, up from $25.0 million in Q1 2024 and $27.9 million in Q4 2024[8] - Well completion services segment reported revenue of $20.9 million on 828 stages in Q1 2025, compared to $8.0 million on 380 stages in Q1 2024[9] - Natural sand proppant services segment revenue was $6.7 million in Q1 2025, an increase from $4.3 million in Q1 2024, with sales of approximately 189,000 tons at an average price of $21.49 per ton[10] - Revenue from external customers in the Completion segment for Q1 2025 was $20,875 million, compared to $7,925 million in Q1 2024, marking an increase of approximately 163.5%[32] - The Infrastructure segment generated $30,725 million in revenue for Q1 2025, up from $25,038 million in Q1 2024, representing a growth of about 22.5%[32] Expenses and Costs - Selling, general and administrative (SG&A) expenses decreased to $6.5 million in Q1 2025, down from $8.8 million in Q1 2024, representing 10% of total revenue[12][13] - The company incurred total costs of revenue of $53,392 million for Q1 2025, compared to $40,584 million in Q1 2024, reflecting an increase of approximately 31.5%[32] - Selling, general and administrative expenses for Q1 2025 were $6,541 million, compared to $8,782 million in Q1 2024, indicating a reduction of about 25.4%[32] - The company’s interest expense and financing charges for Q1 2025 were netted at $153 million, a significant decrease from $8,137 million in Q1 2024, showing improved financial management[35] Liquidity and Capital Management - As of March 31, 2025, the company had total liquidity of $79.4 million, including $56.7 million in unrestricted cash[14] - The company completed the sale of three infrastructure subsidiaries for $108.7 million, enhancing its cash position to approximately $155 million[4] - The company plans to continue evaluating strategic opportunities to deploy its capital for attractive returns and value appreciation[4] Asset and Liability Management - Total current assets decreased slightly to $186,573,000 from $188,587,000 as of December 31, 2024[24] - Total liabilities decreased to $121,843,000 from $131,213,000 at the end of 2024, indicating improved financial health[24] - Cash and cash equivalents at the end of the period were $56,650,000, down from $60,967,000 at the end of 2024[24] - The company had total equity of $252,511,000 as of March 31, 2025, slightly down from $252,818,000 at the end of 2024[25] Operational Efficiency - Operating income for the first quarter was $509,000, compared to an operating loss of $12,032,000 in the same quarter of the previous year[28] - The company reported an operating income of $509 million for Q1 2025, compared to an operating loss of $12,032 million in Q1 2024, indicating a substantial improvement in operational efficiency[32] - Cash flows from operating activities provided $2,711,000, a decrease from $47,349,000 in the same quarter of the previous year[30]