MAMMOTH ENERGY SERVICES INC
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 2024
TUSK$3.27+6.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive (Loss) Income
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUE · (in thousands, except per share amounts) | ||||
| Services revenue | $34,069 | $54,025 | $119,653 | $221,140 |
| Services revenue - related parties | 1,037 | 252 | 1,171 | 841 |
| Product revenue | 4,909 | 10,682 | 13,908 | 34,729 |
| Total revenue | 40,015 | 64,959 | 134,732 | 256,710 |
| COST AND EXPENSES | ||||
| Services cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $4,495, $15,149, $8,394, and $30,426, respectively, for the three and nine months ended September 30, 2024 and three and nine months ended September 30, 2023) | 34,468 | 45,082 | 107,914 | 178,905 |
| Services cost of revenue - related parties | 118 | 120 | 355 | 360 |
| Product cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $1,688, $4,105, $2,836, and $6,395, respectively, for the three and nine months ended September 30, 2024 and three and nine months ended September 30, 2023) | 3,386 | 7,615 | 14,130 | 22,796 |
| Selling, general and administrative (Note 12) | 8,702 | 10,411 | 114,961 | 29,151 |
| Depreciation, depletion, amortization and accretion | 6,184 | 11,233 | 19,256 | 36,839 |
| Gains on disposal of assets, net | (293) | (2,450) | (2,496) | (3,284) |
| Impairment of goodwill | — | 1,810 | — | 1,810 |
| Total cost and expenses | 52,565 | 73,821 | 254,120 | 266,577 |
| Operating loss | (12,550) | (8,862) | (119,388) | (9,867) |
| OTHER INCOME (EXPENSE) | ||||
| Interest expense and financing charges, net | (8,088) | (2,876) | (15,730) | (9,385) |
| Interest expense and financing charges, net - related parties | (1,642) | — | (4,670) | — |
| Other (expense) income, net (Note 2) | (1,122) | 14,088 | (64,658) | 31,051 |
| Total other (expense) income, net | (10,852) | 11,212 | (85,058) | 21,666 |
| (Loss) income before income taxes | (23,402) | 2,350 | (204,446) | 11,799 |
| Provision (benefit) for income taxes | 640 | 3,438 | (12,600) | 9,006 |
| Net (loss) income | $(24,042) | $(1,088) | $(191,846) | $2,793 |
| OTHER COMPREHENSIVE (LOSS) INCOME | ||||
| Foreign currency translation adjustment, net of tax of $0, $0, $0, and $0, respectively, for the three and nine months ended September 30, 2024 and three and nine months ended September 30, 2023) | 125 | (275) | (233) | (45) |
| Comprehensive (loss) income | $(23,917) | $(1,363) | $(192,079) | $2,748 |
| Net (loss) income per share (basic) (Note 15) | $(0.50) | $(0.02) | $(3.99) | $0.06 |
| Net (loss) income per share (diluted) (Note 15) | $(0.50) | $(0.02) | $(3.99) | $0.06 |
| Weighted average number of shares outstanding (basic) (Note 15) | 48,127 | 47,942 | 48,044 | 47,721 |
| Weighted average number of shares outstanding (diluted) (Note 15) | 48,127 | 47,942 | 48,044 | 47,973 |
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