Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $62,500,000, representing a 17% sequential increase from Q4 2024 [12] - Adjusted EBITDA was positive at $2,700,000 in Q1 2025, compared to a negative $4,800,000 in Q4 2024 [19] - Net loss for Q1 2025 was $500,000, or a loss of $0.01 per diluted share, compared to a net loss of $15,500,000, or a loss of $0.32 per diluted share in Q4 2024 [19] - Selling, general and administrative expenses decreased by approximately 34% sequentially to $6,500,000 in Q1 2025 [19] Business Line Data and Key Metrics Changes - Well Completions Services segment generated revenue of $20,900,000 with an average of 1.3 active pressure pumping fleets, up from $15,800,000 with 1.1 active fleets in Q4 2024 [14] - The Sands segment sold approximately 189,000 tons of sand at an average sales price of $21.49 per ton in Q1 2025, compared to 129,000 tons at $22.54 per ton in Q4 2024 [15] - Infrastructure Services segment revenue was $30,700,000 for Q1 2025, a 10% sequential increase compared to Q4 2024 [17] Market Data and Key Metrics Changes - The company anticipates increased competition in gas basins due to strong fundamental support for natural gas later in 2025 and into 2026 [11] - Macroeconomic uncertainty, tariff implications, and OPEC plus production increases have placed significant pressure on the energy market and commodity prices [15] Company Strategy and Development Direction - The company plans to evaluate strategic opportunities to add accretive assets while maintaining a strong balance sheet [5] - Following the sale of three subsidiaries, the company will focus on engineering and fiber within the Infrastructure Services segment [17] - The company aims to strategically deploy capital to grow existing businesses generating the greatest returns [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the first quarter results and noted incremental growth in key financial metrics [10] - There is recognition of uncertainty in the market stemming from tariffs, economic conditions, and geopolitical events [10] - The company expects to manage costs effectively in response to potential weakness in utilization [27] Other Important Information - As of March 31, 2025, the company had unrestricted cash on hand of approximately $56,700,000, with total liquidity of approximately $79,400,000 [21] - After completing the sale of three subsidiaries and purchasing eight aircraft, unrestricted cash on hand increased to $135,400,000 as of May 2, 2025 [21] Q&A Session Summary Question: Can you talk about the uplift in volumes in the sand business and your outlook for the rest of the year? - Management noted strong demand in Western Canada for sand pricing and expects a stable environment to persist through 2025 [25] Question: What cost actions could be taken in the event of potential weakness in the back half of the year? - Management indicated that the biggest lever for the pressure pumping business is on staffing and repairs and maintenance, and they have historically managed costs effectively [26][27]

Financial Highlights - Mammoth Energy Services reported Q1 2025 revenue of $62.5 million, a 17% sequential increase[15] - The company has a strong balance sheet with approximately $155 million in cash on hand as of May 2, 2025, and is debt-free[15] - The current market capitalization is $125.1 million, with an appraised value of property and equipment at $149 million[18] Segment Performance (Q1 2025) - Well Completions contributed $20.9 million, representing 33.5% of total revenue[23, 24] - Infrastructure Services generated $30.7 million, accounting for 49.2% of total revenue[23, 24] - Natural Sand and Proppant Services brought in $6.7 million, which is 10.8% of the total revenue[23, 24] - Other Services accounted for $5.9 million, or 9.4% of the total revenue[23, 24] Sand Proppant Services - The company sold approximately 189,000 tons of sand in Q1 2025, compared to 129,000 tons in Q4 2024[36]