Mammoth Energy Services(US:TUSK)2026-03-06 13:21Revenue Performance - Total revenue from continuing operations for Q4 2025 was $9.5 million, a decrease of 5% from $10.0 million in Q4 2024 and a decrease of 13% from $10.9 million in Q3 2025[3] - Total revenue for the twelve months ended December 31, 2025, was $44.292 million, a decrease of 2.9% compared to $45.599 million in 2024[26] - Services revenue for the three months ended December 31, 2025, increased to $7.363 million from $4.517 million in the same period of 2024, representing a growth of 63.5%[26] - Revenue from external customers in the Rentals segment for the three months ended December 31, 2025, was $3,281,000, an increase from $1,118,000 in the same period of 2024, showing a growth of approximately 194%[30] - The Infrastructure segment reported revenue of $1,172,000 for the three months ended December 31, 2025, compared to $354,000 in the same period of 2024, reflecting a growth of approximately 231%[30] - The Sand segment's revenue decreased to $1,709,000 in Q4 2025 from $5,121,000 in Q4 2024, representing a decline of approximately 66.7%[30] Net Loss and Earnings - Net loss from continuing operations for Q4 2025 was $12.3 million, or $0.26 per diluted share, compared to a net loss of $9.6 million, or $0.20 per diluted share in Q4 2024[4] - The company reported a net income of $8.900 million for the three months ended December 31, 2025, compared to a net loss of $15.474 million in the same period of 2024[26] - Net loss from continuing operations for the three months ended December 31, 2025, was $12,339,000, compared to a loss of $9,648,000 for the same period in 2024, representing a 28% increase in losses year-over-year[36] - The company reported a net loss from continuing operations of $(63,756,000) for the twelve months ended December 31, 2025, compared to $(183,112,000) in 2024, indicating a reduction in losses by approximately 65%[28] - Adjusted net loss from continuing operations for the twelve months ended December 31, 2025, was $(32,087,000), compared to $(183,112,000) in 2024, reflecting an 83% decrease in adjusted losses[39] Operational Metrics - Adjusted EBITDA for Q4 2025 was ($6.8) million, worsening from ($6.0) million in Q4 2024 and ($4.8) million in Q3 2025[5] - The adjusted EBITDA for the twelve months ended December 31, 2025, was $(17,431,000), compared to $(171,215,000) in 2024, indicating a significant improvement in operational performance[32] - Operating loss for the twelve months ended December 31, 2025, was $(57.433) million, an improvement from $(120.357) million in 2024[26] Liquidity and Assets - Total liquidity as of December 31, 2025, was $158.3 million, consisting of $102.0 million in cash and cash equivalents and $19.6 million in marketable securities[12] - Total current assets decreased to $177.148 million as of December 31, 2025, down from $188.587 million in 2024, reflecting a decline of 6.9%[22] - The company’s cash and cash equivalents increased to $101.987 million in 2025, up from $60.845 million in 2024, a growth of 67.6%[22] - The company’s total assets decreased to $334.894 million in 2025 from $384.031 million in 2024, a decline of 12.7%[22] Cost Management - The company incurred a cost of revenue of $10,510,000 for the three months ended December 31, 2025, compared to $9,354,000 in the same period of 2024, indicating an increase of approximately 12.3%[30] - Other net expenses for the twelve months ended December 31, 2025, were $3,906,000, a significant decrease from $64,564,000 in 2024, highlighting cost management efforts[36] - Interest expense and financing charges for the twelve months ended December 31, 2025, totaled $(1,670,000), a decrease from $9,497,000 in 2024, indicating improved financing costs[36] Future Outlook - The company plans to continue investing in high-return opportunities and improving operational execution as a top priority for 2026[2] - Capital expenditures for Q4 2025 totaled $25.9 million, primarily for the expansion of the aviation rental fleet[14]