Mammoth Energy Services, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Reporting Segments and Geographic Areas (Tables)

12 Months Ended

Dec. 31, 2024

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


Year Ended December 31, 2024	Well Completion		Infrastructure		Sand		All Other		Eliminations		Total
Revenue from external customers	$	33,622	$	110,383	$	19,026	$	24,901	$	—	$	187,932
Intersegment revenues	393		—		31		6,548		(6,972)		—
Total revenue	34,015		110,383		19,057		31,449		(6,972)		187,932

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	38,005		92,081		17,790		22,875		—		170,751
Intersegment cost of revenues	756		51		—		6,165		(6,972)		—
Total cost of revenue	38,761		92,132		17,790		29,040		(6,972)		170,751

Selling, general and administrative, exclusive of stock based compensation	4,389		111,068		4,195		4,294		—		123,946
Interest on trade accounts receivable	—		(60,686)		—		—		—		(60,686)
Adjusted EBITDA	(9,135)		(153,503)		(2,928)		(1,885)		—		(167,451)

Reconciliation of net (loss) income to Adjusted EBITDA:
Net (loss) income	(21,886)		(166,089)		(8,496)		(10,855)		—		(207,326)
Depreciation, depletion, amortization and accretion	10,889		2,774		5,228		6,188		—		25,079
Losses (gains) on disposal of assets, net	52		(1,304)		1		(2,763)		—		(4,014)


Stock based compensation	180		462		145		88		—		875
Interest expense and financing charges, net	1,628		21,590		186		1,800		—		25,204
Other expense, net	2		64,535		8		76		—		64,621
(Benefit) provision for income taxes	—		(14,785)		—		3,581		—		(11,204)
Interest on trade accounts receivable	—		(60,686)		—		—		—		(60,686)
Adjusted EBITDA	(9,135)		(153,503)		(2,928)		(1,885)		—		(167,451)

Total expenditures for property, plant and equipment	$	12,730	$	2,815	$	—	$	913	$	607	$	17,065
As of December 31, 2024:
Total assets	$	61,728	$	150,531	$	118,855	$	(97,525)	$	150,442	$	384,031


Year Ended December 31, 2023	Well Completion		Infrastructure		Sand		All Other		Eliminations		Total
Revenue from external customers	$	126,932	$	110,537	$	39,106	$	32,917	$	—	$	309,492
Intersegment revenue	440		—		25		2,029		(2,494)		—
Total revenue	127,372		110,537		39,131		34,946		(2,494)		309,492

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	103,880		90,478		25,666		27,816		—		247,840
Intersegment cost of revenues	1,182		149		—		1,163		(2,494)		—
Total cost of revenue	105,062		90,627		25,666		28,979		(2,494)		247,840

Selling, general and administrative, exclusive of stock based compensation	6,371		21,540		3,432		4,770		—		36,113
Interest on trade accounts receivable	—		45,440		—		—		—		45,440
Adjusted EBITDA	15,939		43,810		10,033		1,197		—		70,979

Reconciliation of net (loss) income to Adjusted EBITDA:
Net (loss) income	(2,043)		8,237		1,824		(11,181)		—		(3,163)
Depreciation, depletion, amortization and accretion	15,374		8,390		7,737		13,609		—		45,110
Gains on disposal of assets, net	(2,023)		(510)		(13)		(3,495)		—		(6,041)
Impairment of goodwill	—		—		—		1,810		—		1,810

Stock based compensation	496		538		186		125		—		1,345
Interest expense and financing charges, net	4,133		9,753		317		1,993		—		16,196
Other expense (income), net	2		(39,252)		(18)		(2,747)		—		(42,015)
Provision for income taxes	—		11,214		—		1,083		—		12,297
Interest on trade accounts receivable	—		45,440		—		—		—		45,440
Adjusted EBITDA	15,939		43,810		10,033		1,197		—		70,979

Total expenditures for property, plant and equipment	$	17,921	$	716	$	223	$	432	$	103	$	19,395
As of December 31, 2023:
Total assets	$	49,926	$	462,429	$	121,201	$	(40,156)	$	105,079	$	698,479


Year Ended December 31, 2022	Well Completion		Infrastructure		Sand		All Other		Eliminations		Total
Revenue from external customers	$	165,645	$	111,452	$	48,916	$	36,073	$	—	$	362,086
Intersegment revenues	596		—		2,475		2,057		(5,128)		—
Total revenue	166,241		111,452		51,391		38,130		(5,128)		362,086

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	120,562		91,577		35,985		30,463		—		278,587
Intersegment cost of revenues	3,882		72		—		1,174		(5,128)		—
Total cost of revenue	124,444		91,649		35,985		31,637		(5,128)		278,587

Selling, general and administrative, exclusive of stock based compensation	7,765		18,798		6,988		5,080		—		38,631
Interest on trade accounts receivable	—		41,276		—		—		—		41,276
Adjusted EBITDA	34,032		42,281		8,418		1,413		—		86,144

Reconciliation of net income (loss) to Adjusted EBITDA:
Net income (loss)	12,870		4,933		(886)		(17,536)		—		(619)
Depreciation, depletion, amortization and accretion	20,129		16,171		8,714		19,257		—		64,271
Gains on disposal of assets, net	(618)		(795)		(89)		(2,406)		—		(3,908)


Stock based compensation	369		349		118		87		—		923
Interest expense and financing charges, net	1,625		7,390		575		1,916		—		11,506
Other income, net	(343)		(40,470)		(14)		(85)		—		(40,912)
Provision for income taxes	—		13,427		—		180		—		13,607
Interest on trade accounts receivable	—		41,276		—		—		—		41,276
Adjusted EBITDA	34,032		42,281		8,418		1,413		—		86,144

Total expenditures for property, plant and equipment	$	11,421	$	885	$	88	$	496	$	(153)	$	12,737
As of December 31, 2022:
Total assets	$	79,022	$	450,841	$	129,566	$	14,813	$	50,436	$	724,678

The following table presents consolidated revenues by country based on sales destination of the products or services (in thousands):

The following table presents long-lived assets, excluding deferred income tax assets, by country (in thousands):