MAMMOTH ENERGY SERVICES INC
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
TUSK$3.06-1.6%Stored close · as of Nov 9, 2026
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Consolidated Statement of Comprehensive Loss
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| REVENUE · (in thousands, except per share amounts) | |||
| Services revenue | $269,227 | $311,968 | $182,236 |
| Services revenue - related parties | 980 | 1,133 | 15,782 |
| Product revenue | 39,285 | 48,985 | 28,799 |
| Product revenue - related parties | — | — | 2,145 |
| Total revenue | 309,492 | 362,086 | 228,962 |
| COST AND EXPENSES | |||
| Services cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $37,356, $55,546 and $69,401, respectively, for 2023, 2022, and 2021) | 219,876 | 241,323 | 170,275 |
| Services cost of revenue - related parties (exclusive of depreciation, depletion, amortization and accretion of $0, $0 and $0, respectively, for 2023, 2022, and 2021) | 475 | 541 | 531 |
| Product cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $7,734, $8,725 and $8,993, respectively, for 2023, 2022, and 2021) | 27,489 | 36,723 | 27,520 |
| Selling, general and administrative (Note 13) | 37,458 | 39,554 | 77,861 |
| Selling, general and administrative - related parties (Note 13) | — | — | 385 |
| Depreciation, depletion, amortization and accretion | 45,110 | 64,271 | 78,475 |
| Gains on disposal of assets, net | (6,041) | (3,908) | (5,147) |
| Impairment of goodwill | 1,810 | — | 891 |
| Impairment of other long-lived assets | — | — | 1,212 |
| Total cost and expenses | 326,177 | 378,504 | 352,003 |
| Operating loss | (16,685) | (16,418) | (123,041) |
| OTHER INCOME (EXPENSE) | |||
| Interest expense and financing charges, net | (14,955) | (11,506) | (6,406) |
| Interest expense and financing charges, net - related parties | (1,241) | — | — |
| Other income, net | 42,015 | 40,912 | 5,669 |
| Other expense, net - related parties | — | — | (515) |
| Total other income (expense) | 25,819 | 29,406 | (1,252) |
| Income (loss) before income taxes | 9,134 | 12,988 | (124,293) |
| Provision (benefit) for income taxes | 12,297 | 13,607 | (22,863) |
| Net loss | $(3,163) | $(619) | $(101,430) |
| OTHER COMPREHENSIVE LOSS | |||
| Foreign currency translation adjustment, net of tax of $0, $0 and ($36), respectively, for 2023, 2022, and 2021 | 221 | (910) | 134 |
| Comprehensive loss | $(2,942) | $(1,529) | $(101,296) |
| Net loss per share (basic and diluted) (Note 16) | $(0.07) | $(0.01) | $(2.18) |
| Weighted average number of shares outstanding, basic and diluted (Note 16) | 47,777 | 47,175 | 46,428 |
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