Mammoth Energy Services, Inc. Quarterly report [Sections 13 or 15(d)]

Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2026

The following tables set forth certain financial information with respect to the Company’s reportable segments (in thousands):


Three Months Ended March 31, 2026	Rentals		Infrastructure		Sand		Accommodations		Drilling		Total
Revenue from external and related party customers	$	12,935	$	269	$	3,864	$	3,541	$	1,421	$	22,030
Intersegment revenue	32		—		—		—		—		32
	12,967		269		3,864		3,541		1,421		22,062
Reconciliation of Revenue
Other(b)											48
Eliminations(a)											(80)
Total consolidated revenue											$	22,030

Less segment expenses:


Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties	8,060		511		4,455		2,138		1,192
Selling, general and administrative, exclusive of stock based compensation	1,268		186		853		332		251
Segment Adjusted EBITDA	$	3,639	$	(428)	$	(1,444)	$	1,071	$	(22)	$	2,816

Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)											$	889
Depreciation, depletion, amortization and accretion											3,470
Gain on disposal of assets, net											(674)



Interest income, net											(514)
Unrealized gain on marketable securities, net											(7,103)
Other expense, net											609
Income from continuing operations before income taxes											$	6,139


Three Months Ended March 31, 2025	Rentals		Infrastructure		Sand		Accommodations		Drilling		Total
Revenue from external and related party customers	$	1,917	$	712	$	6,739	$	2,081	$	182	$	11,631
Intersegment revenue	10		—		—		—		—		10
	1,927		712		6,739		2,081		182		11,641
Reconciliation of Revenue
Other(b)											—
Eliminations(a)											(10)
Total consolidated revenue											$	11,631

Less segment expenses:


Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties	$	1,418	$	874	$	5,476	$	1,432	$	396
Selling, general and administrative, exclusive of stock based compensation	368		122		1,430		389		210
Segment Adjusted EBITDA	$	141	$	(284)	$	(167)	$	260	$	(424)	$	(474)

Reconciliation of total segment Adjusted EBITDA
Less:
Other(b)											$	1,867
Depreciation, depletion, amortization and accretion											2,083
Gains on disposal of assets, net											(3,472)


Stock based compensation											211
Interest (income) expense and financing charges, net, inclusive of related parties											(85)
Other expense, net											333
Loss from continuing operations before income taxes											$	(1,411)

(a) Includes eliminations for intersegment transactions.
(b) Includes activity related to non-operating legacy services that are no longer active.


	Rentals		Infrastructure		Sand		Accommodations		Drilling		Total
As of March 31, 2026:
Total assets for reportable segments	$	83,649	$	4,593	$	67,776	$	14,132	$	2,722	$	172,872
Other assets(a)											170,495
Total consolidated assets, excluding discontinued operations											$	343,367

As of December 31, 2025:
Total assets for reportable segments	$	75,004	$	2,598	$	68,028	$	14,309	$	1,859	$	161,798
Other assets(a)											167,900
Total consolidated assets, excluding discontinued operations											$	329,698

(a) Includes assets related to non-operating legacy services that are no longer active as well as corporate related assets, which include cash and cash equivalents, marketable securities, restricted cash and other current assets.