Mammoth Energy Services(US:TUSK) Prnewswire·2026-03-06 13:00Core Viewpoint - Mammoth Energy Services reported a transformative year in 2025, focusing on portfolio reshaping through divestitures and investments in high-growth opportunities, particularly in its aviation platform, while acknowledging challenges in operational execution in Q4 2025 [1][2]. Financial Overview - Total revenue for Q4 2025 was $9.5 million, down from $10.0 million in Q4 2024 and $10.9 million in Q3 2025. Full-year revenue for 2025 was $44.3 million, compared to $45.6 million in 2024 [1][2]. - Net loss for Q4 2025 was $12.3 million ($0.26 per diluted share), compared to a loss of $9.6 million ($0.20 per diluted share) in Q4 2024. The full-year net loss was $63.8 million ($1.32 per diluted share), significantly improved from a loss of $183.1 million ($3.81 per diluted share) in 2024 [1][2]. - Adjusted EBITDA for Q4 2025 was ($6.8) million, compared to ($6.0) million in Q4 2024. For the full year, Adjusted EBITDA was ($17.4) million, an improvement from ($171.2) million in 2024 [1][2]. Segment Performance - Infrastructure Services: Revenue for Q4 2025 was $1.2 million, up from $0.4 million in Q4 2024. Full-year revenue was $4.1 million, compared to $1.5 million in 2024, driven by increased fiber optic activity [1][2]. - Rental Services: Q4 2025 revenue was $3.3 million, up from $1.2 million in Q4 2024. Full-year revenue was $11.1 million, compared to $7.1 million in 2024, with an increase in equipment rentals [1][2]. - Natural Sand Proppant Services: Q4 2025 revenue was $1.7 million, down from $5.1 million in Q4 2024. Full-year revenue was $16.6 million, compared to $19.1 million in 2024, with a decrease in average sales price per ton [1][2]. - Accommodation Services: Q4 2025 revenue was $2.8 million, up from $2.4 million in Q4 2024. Full-year revenue was $9.0 million, down from $10.9 million in 2024 [1][2]. - Drilling Services: Q4 2025 revenue was $0.5 million, down from $0.8 million in Q4 2024. Full-year revenue was $3.7 million, slightly up from $3.6 million in 2024 [2]. Cost Management - Selling, General and Administrative (SG&A) expenses for Q4 2025 were $5.7 million, down from $6.9 million in Q4 2024. Full-year SG&A expenses were $19.6 million, significantly reduced from $114.5 million in 2024, primarily due to decreased provisions for expected credit losses [2][3]. Liquidity Position - As of December 31, 2025, the company had unrestricted cash and cash equivalents of $102.0 million and total liquidity of $158.3 million. By March 3, 2026, cash on hand was $89.6 million, with total liquidity at $156.6 million [2][3]. Capital Expenditures - Total capital expenditures for Q4 2025 were $25.9 million, with significant investments in the aviation rental fleet and infrastructure services [2][3].