Kodiak Gas Services, Inc.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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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, 2026 · Filed May 11, 2026
KGS$42.26-5.4%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 Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net income | $17,860 | $31,036 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 68,681 | 70,529 |
| Equity compensation expense | 5,890 | 6,978 |
| Amortization of debt issuance costs | 2,963 | 3,133 |
| Non-cash lease expense | 3,260 | 2,555 |
| Provision for credit losses | 1,169 | — |
| Inventory reserve | — | 123 |
| Loss on sale of assets | 1,261 | 9,211 |
| Amortization of interest rate swap | — | 2,426 |
| Deferred tax provision | 2,709 | 7,016 |
| Loss on extinguishment of debt | 36,512 | — |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (41,945) | (23) |
| Inventories | (2,396) | 3,416 |
| Contract assets | (2,535) | (12,313) |
| Prepaid expenses and other current assets | 1,604 | (1,235) |
| Accounts payable | (38) | 2,182 |
| Accrued and other liabilities | (22,916) | (16,258) |
| Contract liabilities | (2,092) | 5,913 |
| Other assets | 1,195 | (361) |
| Net cash provided by operating activities | 71,182 | 114,328 |
| Cash flows from investing activities: | ||
| Purchase of property, plant and equipment | (118,370) | (77,553) |
| Proceeds from sale of assets | 3,467 | 9,376 |
| Net cash used for investing activities | (114,903) | (68,177) |
| Cash flows from financing activities: | ||
| Borrowings on debt instruments | 1,353,857 | 347,491 |
| Payments on debt instruments | (1,147,272) | (344,204) |
| Principal payments on other borrowings | (395) | (1,950) |
| Payment of debt issuance cost | (12,958) | — |
| Principal payments on finance leases | (593) | (719) |
| Dividends paid to stockholders | (42,604) | (36,445) |
| Repurchase of common shares | — | (9,956) |
| Cash paid for shares withheld to cover taxes | (14,979) | (2,827) |
| Net effect on deferred taxes and taxes payable related to the vesting of restricted stock | — | 16 |
| Distributions to noncontrolling interest | (151) | (357) |
| Net cash provided by (used for) financing activities | 134,905 | (48,951) |
| Net increase (decrease) in cash and cash equivalents | 91,184 | (2,800) |
| Cash and cash equivalents - beginning of period | 3,179 | 4,750 |
| Cash and cash equivalents - end of period | $94,363 | $1,950 |
| Supplemental cash disclosures: | ||
| Cash paid for interest | $41,349 | $57,330 |
| Cash paid for taxes | $54 | $486 |
| Supplemental disclosure of non-cash investing activities: | ||
| (Increase) decrease in accrued capital expenditures | $6,485 | $(14,089) |
| Supplemental disclosure of non-cash financing activities: | ||
| Fair value changes in interest rate swap | $(1,914) | $7,314 |
| Accrued debt issuance cost | $(1,349) | $— |
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