Smart Sand, Inc 8-K, filed May 12, 2026

Smart Sand, Inc. (SND)

8-K 2026-05-12 For: 2026-05-12

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Added on May 12, 2026

About this 8-K

Smart Sand, Inc filed this 8-K on May 12, 2026.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Exhibit Number						Description
99.1						Smart Sand, Inc. press release dated May 12, 2026
104.0						The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.


	Three Months Ended
	March 31, 2026		December 31, 2025		March 31, 2025
	(unaudited)		(unaudited)		(unaudited)

Revenues:
Sand revenue	$	92,488	$	85,065	$	64,464
SmartSystems revenue	623		980		1,094
Total revenue	93,111		86,045		65,558
Cost of goods sold:
Sand cost of goods sold	85,842		73,714		61,673
SmartSystems cost of goods sold	1,161		1,107		1,113
Total cost of goods sold	87,003		74,821		62,786
Gross profit	6,108		11,224		2,772
Operating expenses:
Selling, general and administrative	10,709		13,085		9,243
Depreciation and amortization	569		578		619
(Gain) loss on disposal of fixed asset, net	(297)		264		(40)


Total operating expenses	10,981		13,927		9,822
Operating income	(4,873)		(2,703)		(7,050)
Other income (expenses):

Interest expense, net	(255)		(491)		(342)

Other income	96		120		129
Total other expenses, net	(159)		(371)		(213)
Loss before income tax (benefit) expense	(5,032)		(3,074)		(7,263)
Income tax (benefit) expense	(1,172)		(4,252)		16,968
Net (loss) income	$	(3,860)	$	1,178	$	(24,231)
Net (loss) income per common share:
Basic	$	(0.10)	$	0.03	$	(0.62)
Diluted	$	(0.10)	$	0.03	$	(0.62)
Weighted-average number of common shares:
Basic	39,173		38,893		39,257
Diluted	39,173		40,177		39,257


	March 31, 2026		December 31, 2025
	(unaudited)
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	19,454	$	22,551
Accounts receivable	28,396		30,519
Unbilled receivables	121		—
Inventory	30,235		31,081
Prepaid expenses and other current assets	4,824		3,991
Total current assets	83,030		88,142
Property, plant and equipment, net	222,361		223,254
Operating lease right-of-use assets	25,382		23,471
Intangible assets, net	4,094		4,292
Other assets	798		855
Total assets	$	335,665	$	340,014
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	12,497	$	9,427
Accrued expenses and other liabilities	22,820		17,544
Deferred revenue	1,041		9,838

Current portion of long-term debt	4,749		4,366
Current portion of operating lease liabilities	9,051		8,765
Total current liabilities	50,158		49,940

Long-term debt	9,156		8,657
Long-term operating lease liabilities	15,908		14,392
Deferred tax liabilities, net	3,206		4,188
Asset retirement obligations	22,760		22,472

Other non-current liabilities	359		668
Total liabilities	101,547		100,317
Commitments and contingencies
Stockholders’ equity
Common stock	38		39
Treasury stock	(20,101)		(17,393)
Additional paid-in capital	190,021		189,031
Retained earnings	64,213		68,073
Accumulated other comprehensive loss	(53)		(53)
Total stockholders’ equity	234,118		239,697
Total liabilities and stockholders’ equity	$	335,665	$	340,014


	Three Months Ended
	March 31, 2026		December 31, 2025		March 31, 2025
	(unaudited)		(unaudited)		(unaudited)
	(in thousands)
Operating activities:
Net (loss) income	$	(3,860)	$	1,178	$	(24,231)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and accretion of asset retirement obligations	7,528		7,406		7,299

Amortization of intangible assets	199		201		198
Loss (gain) on disposal of fixed assets	(297)		264		(40)

Amortization of deferred financing cost	64		64		46



Deferred income taxes	(982)		(2,546)		16,662
Stock-based compensation	960		864		934
Employee stock purchase plan compensation	10		5		6



Changes in assets and liabilities:
Accounts receivable	2,123		13,671		13,015
Unbilled receivables	(121)		—		2,408
Inventory	629		518		(3,265)
Prepaid expenses and other assets	(721)		(1,006)		(1,712)
Deferred revenue	(8,797)		9,838		423
Asset retirement obligation settlement	—		(92)		—
Accounts payable	1,534		209		(4,061)
Accrued and other expenses	4,774		(8,204)		1,042
Net cash provided by operating activities	3,043		22,370		8,724
Investing activities:

Purchases of property, plant and equipment	(2,201)		(1,998)		(3,536)
Proceeds from disposal of assets	—		—		1
Net cash used in investing activities	(2,201)		(1,998)		(3,535)
Financing activities:
Dividend payments to shareholders	—		(1,978)		(7)

Repayments of notes payable	(1,188)		(816)		(955)
Payments under finance leases	(61)		(59)		(58)

Proceeds from revolving credit facility	—		2,000		11,000
Repayment of revolving credit facility	—		(2,000)		(11,000)

Proceeds from equity issuance	20		—		26

Repurchase of treasury stock from restricted stock vesting	(1,238)		(49)		(336)
Repurchase of treasury stock from Repurchase Program	(1,472)		(1)		(305)
Net cash used in financing activities	(3,939)		(2,903)		(1,635)
Net (decrease) increase in cash and cash equivalents	(3,097)		17,469		3,554
Cash and cash equivalents at beginning of period	22,551		5,082		1,554
Cash and cash equivalents at end of period	$	19,454	$	22,551	$	5,108


	Three Months Ended
	March 31, 2026		December 31, 2025		March 31, 2025
	(in thousands, except per ton amounts)
Revenue	$	93,111	$	86,045	$	65,558
Cost of goods sold	87,003		74,821		62,786
Gross profit	6,108		11,224		2,772
Depreciation, depletion, and accretion of asset retirement obligations included in cost of goods sold	7,081		6,784		6,805
Contribution margin	$	13,189	$	18,008	$	9,577
Contribution margin per ton	$	8.84	$	12.18	$	8.96
Total tons sold	1,492		1,478		1,069


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Lee Beckelman
Chief Financial Officer
(281) 231-2660
lbeckelman@smartsand.com