Smart Sand Inc
For the period ended Dec 31, 2023. Filed Mar 11, 2024.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (in thousands of U.S. dollars) | |||
| Operating activities: | |||
| Net income (loss) | $4,649 | $(703) | $(50,674) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation, depletion and accretion of asset retirement obligation | 27,472 | 26,488 | 25,308 |
| Impairment loss | — | — | 2,170 |
| Amortization of intangible assets | 793 | 792 | 792 |
| (Gain) loss on disposal of assets | 1,802 | (294) | 555 |
| Provision for bad debt | — | 1 | 19,592 |
| Amortization of deferred financing cost | 105 | 105 | 105 |
| Accretion of debt discount | 186 | 186 | 183 |
| Deferred income taxes | (6,137) | (4,196) | (10,547) |
| Stock-based compensation, net | 3,507 | 3,184 | 3,161 |
| Employee stock purchase plan compensation | 24 | 25 | 34 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 12,672 | (18,265) | 32,899 |
| Unbilled receivables | (2,640) | 1,805 | (2,011) |
| Inventory | (6,638) | (5,161) | 1,942 |
| Prepaid expenses and other assets | 1,996 | 6,524 | 751 |
| Deferred revenue | (5,805) | (9,311) | 5,913 |
| Settlement of asset retirement obligation | (197) | — | — |
| Accounts payable | 1,974 | 5,244 | 4,508 |
| Accrued expenses and other liabilities | (2,772) | (1,004) | (2,243) |
| Net cash provided by operating activities | 30,991 | 5,420 | 32,438 |
| Investing activities: | |||
| Acquisition, net of cash acquired | — | (6,547) | — |
| Purchases of property, plant and equipment | (23,031) | (12,731) | (11,220) |
| Proceeds from disposal of assets | 129 | 1,070 | 78 |
| Net cash used in investing activities | (22,902) | (18,208) | (11,142) |
| Financing activities: | |||
| Repayments of notes payable | (10,435) | (7,325) | (6,771) |
| Payments under financing lease obligation | (394) | (116) | (123) |
| Proceeds from revolving credit facility | 23,000 | 10,000 | — |
| Repayment of revolving credit facility | (15,000) | (10,000) | — |
| Payment of contingent consideration | — | — | (180) |
| Proceeds from equity issuance | 56 | 52 | 42 |
| Royalty stock issuance | — | 639 | — |
| Purchase of treasury stock | (4,754) | (540) | (401) |
| Net cash used in financing activities | (7,527) | (7,290) | (7,433) |
| Net increase in cash and cash equivalents | 562 | (20,078) | 13,863 |
| Cash and cash equivalents at beginning of year | 5,510 | 25,588 | 11,725 |
| Cash and cash equivalents at end of year | $6,072 | $5,510 | $25,588 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.