MAMMOTH ENERGY SERVICES INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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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, 2024 · Filed May 2, 2024
TUSK$3.27+6.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net (loss) income | $(11,811) | $8,351 |
| Adjustments to reconcile net (loss) income to cash provided by operating activities: | ||
| Stock based compensation | 219 | 647 |
| Depreciation, depletion, accretion and amortization | 7,021 | 12,956 |
| Amortization of debt origination costs | 372 | 188 |
| Change in provision for expected credit losses | 229 | (381) |
| Gains on disposal of assets | (1,166) | (361) |
| Deferred income taxes | 609 | (27) |
| Other | 111 | 174 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | 56,623 | (18,534) |
| Inventories | (168) | (1,347) |
| Prepaid expenses and other assets | 3,236 | 3,203 |
| Accounts payable | (5,152) | 8,602 |
| Accrued expenses and other liabilities | (5,441) | (13,262) |
| Accrued expenses and other liabilities - related parties | 1,500 | — |
| Income taxes payable | 1,167 | 3,031 |
| Net cash provided by operating activities | 47,349 | 3,240 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (4,151) | (6,036) |
| Proceeds from disposal of property and equipment | 3,049 | 330 |
| Net cash used in investing activities | (1,102) | (5,706) |
| Cash flows from financing activities: | ||
| Borrowings on long-term debt | — | 66,700 |
| Repayments of long-term debt | — | (65,606) |
| Payments on financing transaction | (46,837) | — |
| Payments on sale leaseback transaction | (1,112) | (1,214) |
| Principal payments on financing leases and equipment financing notes | (503) | (2,044) |
| Debt issuance costs | (37) | — |
| Other | — | (919) |
| Net cash used in financing activities | (48,489) | (3,083) |
| Effect of foreign exchange rate on cash | (35) | (6) |
| Net decrease in cash, cash equivalents and restricted cash | (2,277) | (5,555) |
| Cash, cash equivalents and restricted cash at beginning of period | 24,298 | 17,282 |
| Cash, cash equivalents and restricted cash at end of period | $22,021 | $11,727 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $741 | $3,108 |
| Cash paid for income taxes, net of refunds received | $8 | $(26) |
| Supplemental disclosure of non-cash transactions: | ||
| Interest paid in kind | $2,741 | $— |
| Purchases of property and equipment included in accounts payable and accrued expenses | $2,500 | $5,917 |
| Right-of-use assets obtained for financing lease liabilities | $106 | $— |
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