MAMMOTH ENERGY SERVICES INC

For the period ended Dec 31, 2023. Filed Mar 1, 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 1, 2024

TUSK$3.27+6.9%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statement of Cash Flows

	Years Ended December 31,
	2023	2022	2021
Cash flows from operating activities · (in thousands)
Net loss	$(3,163)	$(619)	$(101,430)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Stock based compensation	1,345	923	1,191
Depreciation, depletion, amortization and accretion	45,110	64,271	78,475
Amortization of financing origination costs	1,288	777	665
Change in provision for expected credit losses	(591)	3,389	41,662
Gains on disposal of assets, net	(6,041)	(3,908)	(5,147)
Gains from sales of equipment damaged or lost down-hole	(335)	(604)	(288)
Impairment of goodwill	1,810	—	891
Impairment of other long-lived assets	—	—	1,212
Gain on sale of business	(2,080)	—	—
Deferred income taxes	(1,687)	7,700	(32,005)
Other	(693)	(117)	280
Changes in assets and liabilities:
Accounts receivable, net	11,099	(52,392)	(55,898)
Receivables from related parties	176	(135)	28,373
Inventories	(3,770)	(517)	3,654
Prepaid expenses and other assets	354	(710)	1,444
Accounts payable	(18,485)	6,680	(2,982)
Accrued expenses and other liabilities	(6,949)	(15,272)	12,380
Accrued expenses and other liabilities - related parties	1,241	—	—
Income taxes payable	12,757	5,800	8,658
Net cash provided by (used in) operating activities	31,386	15,266	(18,865)
Cash flows from investing activities:
Purchases of property and equipment	(19,395)	(12,737)	(5,843)
Business divestitures, net of cash transferred	3,276	—	—
Proceeds from disposal of property and equipment	7,333	10,613	11,350
Net cash (used in) provided by investing activities	(8,786)	(2,124)	5,507
Cash flows from financing activities:
Borrowings on long-term debt	201,091	197,975	73,100
Borrowings on long-term debt - related parties	43,874	—	—
Repayments of long-term debt	(284,610)	(199,430)	(68,911)
Proceeds from financing transaction, net	46,120	—	—
Proceeds from sale-leaseback transaction	—	4,589	9,473
Payments on sale-leaseback transaction	(4,958)	(4,429)	(2,951)
Principal payments on financing leases and equipment financing notes	(12,212)	(4,306)	(2,283)
Debt issuance costs	(3,972)	—	—
Other	(919)	—
Net cash (used in) provided by financing activities	(15,586)	(5,601)	8,428
Effect of foreign exchange rate on cash	2	(158)	7
Net increase (decrease) in cash, cash equivalents and restricted cash	7,016	7,383	(4,923)
Cash, cash equivalents and restricted cash at beginning of period	17,282	9,899	14,822
Cash, cash equivalents and restricted cash at end of period	$24,298	$17,282	$9,899

	Years Ended December 31,
	2023	2022	2021
Supplemental disclosure of cash flow information: · (in thousands)
Cash paid for interest	$12,017	$10,164	$4,827
Cash paid for income taxes	$897	$106	$829
Supplemental disclosure of non-cash transactions:
Purchases of property and equipment included in accounts payable	$3,339	$4,736	$1,535
Right-of-use assets obtained for financing lease liabilities	$1,417	$3,058	$1,750

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