Filing Flows › Smart Sand (SND) › Q1 2025
Smart Sand (SND) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Smart Sand (SND) reported revenue of $65.6M for the first quarter 2025 (Q1 2025), -21% from a year earlier and -28% from the quarter before. Operating margin was -10.8%, net loss $24.2M (37.0% of revenue).
Smart Sand, Q1 2025: revenue $65.6M (-21% year over year), operating margin -10.8%, net loss $24.2M, operating cash flow $8.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.6M | -28% | -21% |
| Operating profit | −$7.0M | -296% | — |
| Net earnings | −$24.2M | -749% | — |
| Operating cash flow | $8.7M | +743% | — |
| Free cash flow | $5.2M | — | — |
What changed
Revenue was $65.6M in Q1 2025, down 21% year over year and down 28% from the previous quarter. Sand was the largest line at 98% of revenue. Sand lost $15.3M year over year (down 19%), 87% of the total change.
Gross margin was 4.2%, down 10.0 points from a year earlier. Operating costs exceeded revenue by $7.0M, an operating margin of -10.8%. Operating expenses fell 11% while revenue fell 21%. The quarter ended with a net loss of $24.2M, after a profit of $3.7M the previous quarter.
Operating cash flow was $8.7M. Non-cash charges added back $7.3M of depreciation and amortization and $934K of share-based compensation. Working capital and other items added $24.7M. After purchases of property, plant and equipment ($3.5M), free cash flow as the company reports it was $5.2M.
Questions
What was Smart Sand's revenue in the first quarter 2025?
Smart Sand (SND) reported revenue of $65.6M for the first quarter 2025 (Q1 2025), -21% from a year earlier and -28% from the quarter before.
Was Smart Sand profitable in the first quarter 2025?
Operating loss was $7.0M (-10.8% of revenue) and net loss $24.2M.
Source: Smart Sand 10-Q on SEC EDGAR.