MAMMOTH ENERGY SERVICES INC

For the period ended Dec 31, 2024. Filed Mar 7, 2025.

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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.

FY2024 · Filed Mar 7, 2025

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

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years Ended December 31,
	2024	2023	2022
Cash flows from operating activities · (in thousands)
Net loss	$(207,326)	$(3,163)	$(619)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Stock based compensation	875	1,345	923
Depreciation, depletion, amortization and accretion	25,079	45,110	64,271
Amortization of financing origination costs	3,131	1,288	777
Change in provision for expected credit losses	171,517	(591)	3,389
Gains on disposal of assets, net	(4,014)	(6,041)	(3,908)
Gains from sales of equipment damaged or lost down-hole	(157)	(335)	(604)
Impairment of goodwill	—	1,810	—
Gain on sale of business	—	(2,080)	—
Deferred income taxes	4,237	(1,687)	7,700
Other	160	(693)	(117)
Changes in assets and liabilities:
Accounts receivable, net	195,639	11,275	(52,527)
Inventories	(2,563)	(3,770)	(517)
Prepaid expenses and other assets	195	354	(710)
Accounts payable	2,675	(18,485)	6,680
Accrued expenses and other liabilities	3,277	(6,949)	(15,272)
Accrued expenses and other liabilities - related parties	4,647	1,241	—
Income taxes payable	(16,655)	12,757	5,800
Net cash provided by operating activities	180,717	31,386	15,266
Cash flows from investing activities:
Purchases of property and equipment	(17,065)	(19,395)	(12,737)
Business divestitures, net of cash transferred	—	3,276	—
Proceeds from disposal of property and equipment	6,633	7,333	10,613
Net cash used in investing activities	(10,432)	(8,786)	(2,124)
Cash flows from financing activities:
Borrowings on long-term debt	—	201,091	197,975
Borrowings on long-term debt - related parties	—	43,874	—
Repayments of long-term debt	—	(284,610)	(199,430)
Repayments of long-term debt - related parties	(50,888)	—	—
Proceeds from financing transaction, net	—	46,120	—
Payments on financing transaction (Note 10)	(46,837)	—	—
Proceeds from sale-leaseback transaction	—	—	4,589
Payments on sale-leaseback transaction	(12,407)	(4,958)	(4,429)
Principal payments on financing leases and equipment financing notes	(1,944)	(12,212)	(4,306)
Debt issuance costs	(37)	(3,972)	—
Other	—	(919)	—
Net cash used in financing activities	(112,113)	(15,586)	(5,601)
Effect of foreign exchange rate on cash	(144)	2	(158)
Net increase (decrease) in cash, cash equivalents and restricted cash	58,028	7,016	7,383
Cash, cash equivalents and restricted cash at beginning of period	24,298	17,282	9,899
Cash, cash equivalents and restricted cash at end of period	$82,326	$24,298	$17,282

	Years Ended December 31,
	2024	2023	2022
Supplemental disclosure of cash flow information: · (in thousands)
Cash paid for interest	$15,526	$12,017	$10,164
Cash paid for income taxes, net of refunds received	$1,173	$897	$106
Supplemental disclosure of non-cash transactions:
Interest paid in kind - related parties	$5,888	$—	$—
Purchases of property and equipment included in accounts payable and accrued expenses	$5,650	$3,339	$4,736
Right-of-use assets obtained for financing lease liabilities	$6,896	$1,417	$3,058

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