Smart Sand Inc

For the period ended Dec 31, 2023. Filed Mar 11, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 11, 2024

SND$4.07+3.0%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations

	Year Ended December 31,
	2023	2022	2021
(in thousands of U.S. dollars, except per share amounts)
Revenues:
Sand sales revenue	$283,160	$243,162	$117,402
Shortfall revenue	4,304	5,010	4,421
Logistics revenue	8,509	7,568	4,825
Total revenue	295,973	255,740	126,648
Cost of goods sold	254,418	226,149	140,384
Inventory impairment loss	—	—	2,170
Gross profit	41,555	29,591	(15,906)
Operating expenses:
Salaries, benefits and payroll taxes	18,309	13,480	11,258
Depreciation and amortization	2,535	2,244	1,980
Selling, general and administrative	20,413	17,288	14,194
Loss (gain) on disposal of fixed assets, net	1,802	(294)	555
Bad debt expense	—	1	19,592
Total operating expenses	43,059	32,719	47,579
Operating loss	(1,504)	(3,128)	(63,485)
Other (expenses) income:
Interest expense, net	(1,272)	(1,608)	(1,979)
Other income	524	828	5,773
Total other (expenses) income, net	(748)	(780)	3,794
Loss before income tax benefit	(2,252)	(3,908)	(59,691)
Income tax benefit	(6,901)	(3,205)	(9,017)
Net income (loss)	$4,649	$(703)	$(50,674)
Net income (loss) per common share:
Basic	$0.12	$(0.02)	$(1.21)
Diluted	$0.12	$(0.02)	$(1.21)
Weighted-average number of common shares:
Basic	38,948	42,408	41,775
Diluted	39,046	42,408	41,775

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.