Smart Sand Inc
For the period ended Dec 31, 2024. Filed Mar 4, 2025.
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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.
FY2024 · Filed Mar 4, 2025
SND$4.07+3.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in thousands of U.S. dollars) | |||
| Operating activities: | |||
| Net income (loss) | $2,992 | $4,649 | $(703) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation, depletion and accretion of asset retirement obligation | 28,936 | 27,472 | 26,488 |
| Amortization of intangible assets | 792 | 793 | 792 |
| Net loss (gain) on disposal of assets | 1,062 | 1,802 | (294) |
| Amortization of deferred financing cost | 145 | 105 | 105 |
| Accretion of debt discount | 92 | 186 | 186 |
| Loss on extinguishment of debt | 1,341 | — | — |
| Deferred income taxes | (2,784) | (6,137) | (4,196) |
| Stock-based compensation, net | 3,216 | 3,507 | 3,184 |
| Employee stock purchase plan compensation | 23 | 24 | 25 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (17,750) | 12,672 | (18,264) |
| Unbilled receivables | (2,750) | (2,640) | 1,805 |
| Inventory | 1,779 | (6,638) | (5,161) |
| Prepaid expenses and other assets | 212 | 1,996 | 6,524 |
| Deferred revenue | (1,101) | (5,805) | (9,311) |
| Settlement of asset retirement obligation | — | (197) | — |
| Accounts payable | 53 | 1,974 | 5,244 |
| Accrued expenses and other liabilities | 1,606 | (2,772) | (1,004) |
| Net cash provided by operating activities | 17,864 | 30,991 | 5,420 |
| Investing activities: | |||
| Acquisition, net of cash acquired | — | — | (6,547) |
| Purchases of property, plant and equipment | (7,010) | (23,031) | (12,731) |
| Proceeds from disposal of assets | 89 | 129 | 1,070 |
| Net cash used in investing activities | (6,921) | (22,902) | (18,208) |
| Financing activities: | |||
| Dividend payments to stockholders | (3,902) | — | — |
| Proceeds from the issuance of notes payable | 9,755 | — | — |
| Repayments of notes payable | (10,263) | (10,435) | (7,325) |
| Proceeds from revolving credit facility | 30,975 | 23,000 | 10,000 |
| Repayment of revolving credit facility | (38,975) | (15,000) | (10,000) |
| Payments under finance leases | (221) | (394) | (116) |
| Payment of deferred financing and debt issuance costs | (1,232) | — | — |
| Payment for debt extinguishment costs | (1,227) | — | — |
| Employee stock purchase plan issuance | 51 | 56 | 52 |
| Royalty stock issuance | — | — | 639 |
| Purchase of treasury stock | (422) | (4,754) | (540) |
| Net cash used in financing activities | (15,461) | (7,527) | (7,290) |
| Net increase in cash and cash equivalents | (4,518) | 562 | (20,078) |
| Cash and cash equivalents at beginning of year | 6,072 | 5,510 | 25,588 |
| Cash and cash equivalents at end of year | $1,554 | $6,072 | $5,510 |
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