Cactus, Inc.
For the period ended Mar 31, 2026. Filed May 8, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
WHD$58.12+5.7%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-10-30.
0001628280-25-047500
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001628280-26-032636
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 7 previous paragraphs and 6 current paragraphs.
1 unchanged; 1 reworded; 4 added; 5 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
In addition to the information set forth in this Quarterly Report, you should carefully consider the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in our 2025 Annual Report, and in our other filings with the SEC, which could materially affect our business, results of operations, financial condition or cash flows. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, results of operations, financial condition or cash flows. There have been no material changes in our risk factors from those described in our 2025 Annual Report and our other SEC filings, except as follows:
Added paragraphs (4)
Current report
The current war between Iran and the United States and Israel will likely continue to adversely impact our operations in the Middle East.
Current report
Cactus International, a 65% owned subsidiary of the Company, has plants in the UAE and Saudi Arabia that are subject to continued interruptions in operations due to the war between Iran, and United States and Israel. The war has also impeded traffic through the Strait of Hormuz impacting our supply chain in the region and impacting the operations and concerns for the safety of our employees and of our customers in the Middle East. We have experienced and expect to continue to experience significant delays and decreased order activities from our customers because of this disruption. The delays in orders potentially impacts not only our operations through Cactus International but also international sales by our Spoolable Technologies segment. There is no way to predict when this conflict will be resolved and when operations can be restored to the conditions that existed before the war. Until such conditions are restored, we expect that our operations in the Middle East and our financial results will be adversely impacted.
Current report
The current war between Iran and the United States and Israel may impact or delay our ability to realize the anticipated benefits from Cactus International.
Current report
The disruptions resulting from the war between Iran and the United States and Israel may impact our ability to integrate the Cactus International business with the Company’s business. As a result, our ability to achieve expected revenue, margin and synergy targets related to the transaction may also be adversely impacted. Continued disruptions could result in failure to achieve some or all the benefits expected to result from Cactus International and, if such benefits are delayed or not achieved, our business could be harmed. We cannot estimate the potential impact on our operations and financial results given the uncertain and unpredictable nature of the current situation.
Removed paragraphs (5)
Previous report
Cost-cutting measures taken during the second and third quarters of 2025 may adversely impact our business.
Previous report
During the second and third quarters of 2025 the Company implemented various cost-cutting measures, such as reductions in force and reductions in service assets, in response to an anticipated downturn in the price of oil and gas, potentially leading to a decrease in demand for our products and services. If such downturn does not materialize as anticipated or the market recovers more quickly than anticipated, such cost-cutting measures could inhibit the Company's ability to meet its customers’ needs.
Previous report
Potential disruption to global supply chains due to a U.S. government shutdown could adversely impact our business and our operating results
Previous report
A prolonged or recurring shutdown of the U.S. federal government could materially disrupt global supply chains and adversely affect our operations. Government shutdowns may result in delays in customs processing, regulatory approvals, and transportation logistics, particularly at ports of entry and border crossings. These disruptions can lead to increased lead times, higher costs, and reduced availability of critical materials and components sourced internationally.
Previous report
While we actively monitor geopolitical and regulatory developments and maintain contingency plans, the scope and duration of a government shutdown are inherently unpredictable. As such, we cannot guarantee that our mitigation strategies will fully offset the potential adverse effects on our supply chain and business operations.
Reworded paragraphs (1)
Previous wording
In addition to the information set forth in this Quarterly Report, you should carefully consider the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in our 2024 Annual Report, and under the heading “Part II, Item 1A. Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and in our other filings with the SEC, which could materially affect our business, results of operations, financial condition or cash flows. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, results of operations, financial condition or cash flows. There have been no material changes in our risk factors from those described in our 2024 Annual Report, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and our other SEC filings, except as follows:
Current wording
In addition to the information set forth in this Quarterly Report, you should carefully consider the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in our 2025 Annual Report, and in our other filings with the SEC, which could materially affect our business, results of operations, financial condition or cash flows. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, results of operations, financial condition or cash flows. There have been no material changes in our risk factors from those described in our 2025 Annual Report and our other SEC filings, except as follows: