Smart Sand(US:SND)2025-11-12 11:12Sales Performance - In Q3 2025, Smart Sand sold approximately 1,472,000 tons, reflecting a 3% sequential increase and a 24% year-over-year increase compared to Q3 2024[5]. - The company expects full-year 2025 sales volumes to be in the range of 5.1 million to 5.4 million tons and anticipates being free cash flow positive for the year[4]. - Smart Sand's commitment to expanding its market presence includes record sales volumes into Canada and growth in the Utica shale through Ohio terminals[4]. Revenue and Profitability - Revenues for Q3 2025 were $92.8 million, up from $85.8 million in Q2 2025 and $63.2 million in Q3 2024, driven by higher sales volumes and average selling prices[6]. - Total revenue for the three months ended September 30, 2025, was $92,780,000, representing a 8.8% increase from $85,770,000 in the previous quarter and a 46.7% increase from $63,158,000 in the same quarter last year[29]. - Gross profit for the same period was $14,935,000, up from $8,957,000 in the previous quarter and $6,487,000 in the same quarter last year, indicating a significant improvement in profitability[29]. - Contribution margin for the three months ended September 30, 2025, was $21,721,000, compared to $15,784,000 in the previous quarter and $13,187,000 in the same quarter last year, reflecting a strong operational performance[37]. Net Income and Earnings - The net income for Q3 2025 was $3.0 million, or $0.08 per share, compared to a net income of $21.4 million in Q2 2025 and a net loss of $(0.1) million in Q3 2024[12]. - The company reported a net income of $3,002,000 for the three months ended September 30, 2025, compared to a net income of $21,396,000 in the previous quarter and a net loss of $98,000 in the same quarter last year[29]. - Operating income for the three months ended September 30, 2025, was $5,370,000, a significant recovery from an operating loss of $77,000 in the previous quarter and an operating loss of $4,912,000 in the same quarter last year[29]. Cash Flow and Liquidity - Free cash flow for Q3 2025 was $14.8 million, resulting from net cash provided by operating activities of $18.2 million and capital expenditures of $3.4 million[17]. - Cash and cash equivalents increased to $5,081,000 as of September 30, 2025, up from $4,293,000 at the end of the previous quarter and $7,215,000 at the same time last year[33]. - Total current assets rose to $84,019,000 as of September 30, 2025, compared to $75,525,000 at the end of the previous year, indicating improved liquidity[31]. - The company has a liquidity position with $5.1 million in cash on hand and $30.0 million in undrawn availability on its credit facility as of September 30, 2025[20]. Expenses and Financial Obligations - Operating expenses in Q3 2025 were $9.6 million, up from $9.0 million in Q2 2025 but down from $11.4 million in Q3 2024[10]. - Total liabilities increased to $103,200,000 as of September 30, 2025, from $97,736,000 at the end of the previous year, reflecting a rise in financial obligations[31]. - Depreciation, depletion, and amortization expenses were $7,179,000 for the three months ended September 30, 2025, slightly down from $7,236,000 in the previous quarter and up from $7,161,000 in the same period last year[40]. - Interest expense for the three months ended September 30, 2025, was $364,000, compared to $344,000 in the previous quarter and $383,000 in the same period last year[40]. Shareholder Returns - Smart Sand returned $6.4 million to shareholders through share repurchases and special dividends in 2025, including a special cash dividend of $0.10 per share[4][19].