Filing Flows › Smart Sand (SND) › Q1 2026 › vs Q1 2025
Smart Sand (SND) Q1 2026 vs Q1 2025 (year over year)
Smart Sand's revenue rose $27.6M (+42%) from $65.6M in Q1 2025 to $93.1M in Q1 2026. The biggest changes: Sand +$28.0M (+43%); SmartSystems −$471K (-43%).
Smart Sand, Q1 2026: revenue $93.1M (+42% year over year), operating margin -5.2%, net loss $3.9M, operating cash flow $3.0M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 0.9% | 7.9% | -7.0 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Sand | $92.5M | $64.5M | $28.0M | +43% |
| SmartSystems | $623K | $1.1M | −$471K | -43% |
| Revenue | $93.1M | $65.6M | $27.6M | +42% |
| Income tax benefit | $1.2M | −$17.0M | $18.1M | — |
| Net loss | $3.9M | $24.2M | −$20.4M | -84% |
| Costs & expenses | $98.1M | $89.8M | $8.4M | +9% |
| Operating costs | $98.0M | $72.6M | $25.4M | +35% |
| Cost of revenue | $87.0M | $62.8M | $24.2M | +39% |
| SG&A | $10.7M | $9.2M | $1.5M | +16% |
| Other operating costs | $272K | $579K | −$307K | -53% |
| Operating cash sources | $8.5M | $8.2M | $255K | +3% |
| Depreciation & amortization | $7.5M | $7.3M | $229K | +3% |
| Share-based compensation | $960K | $934K | $26K | +3% |
| Net loss absorbed | $3.9M | $24.2M | −$20.4M | -84% |
| Working capital & other | $1.6M | −$24.7M | $26.3M | — |
| Operating cash flow | $3.0M | $8.7M | −$5.7M | -65% |
| Free cash flow (company-reported) | $842K | $5.2M | −$4.3M | -84% |
| Purchases of property, plant and equipment | $2.2M | $3.5M | −$1.3M | -38% |
Questions
How much did Smart Sand's revenue grow year over year in Q1 2026?
Smart Sand's revenue rose $27.6M (+42%) from $65.6M in Q1 2025 to $93.1M in Q1 2026.
What drove Smart Sand's revenue change in Q1 2026?
Sand +$28.0M (+43%); SmartSystems −$471K (-43%).