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 Comprehensive (Loss) Income
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| REVENUE · (in thousands, except per share amounts) | ||
| Services revenue | $38,814 | $103,637 |
| Services revenue - related parties | 68 | 220 |
| Product revenue | 4,307 | 12,463 |
| Total revenue | 43,189 | 116,320 |
| COST AND EXPENSES | ||
| Services cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $5,874 and $11,762, respectively, for the three months ended March 31, 2024 and 2023) | 34,483 | 80,977 |
| Services cost of revenue - related parties | 118 | 31 |
| Product cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $1,146 and $1,186, respectively, for the three months ended March 31, 2024 and 2023) | 5,983 | 7,985 |
| Selling, general and administrative (Note 12) | 8,782 | 8,383 |
| Depreciation, depletion, amortization and accretion | 7,021 | 12,956 |
| Gains on disposal of assets, net | (1,166) | (361) |
| Total cost and expenses | 55,221 | 109,971 |
| Operating (loss) income | (12,032) | 6,349 |
| OTHER INCOME (EXPENSE) | ||
| Interest expense and financing charges, net | (6,637) | (3,289) |
| Interest expense and financing charges, net - related parties | (1,500) | — |
| Other income, net | 10,143 | 8,624 |
| Total other income, net | 2,006 | 5,335 |
| (Loss) income before income taxes | (10,026) | 11,684 |
| Provision for income taxes | 1,785 | 3,333 |
| Net (loss) income | $(11,811) | $8,351 |
| OTHER COMPREHENSIVE (LOSS) INCOME | ||
| Foreign currency translation adjustment, net of tax of $0 and $0, respectively, for the three months ended March 31, 2024 and 2023 | (244) | 3 |
| Comprehensive (loss) income | $(12,055) | $8,354 |
| Net (loss) income per share (basic) (Note 15) | $(0.25) | $0.18 |
| Net (loss) income per share (diluted) (Note 15) | $(0.25) | $0.17 |
| Weighted average number of shares outstanding (basic) (Note 15) | 47,964 | 47,443 |
| Weighted average number of shares outstanding (diluted) (Note 15) | 47,964 | 48,002 |
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