Filing Flows › Smart Sand (SND) › Q1 2026
Smart Sand (SND) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Smart Sand (SND) reported revenue of $93.1M for the first quarter 2026 (Q1 2026), +42% from a year earlier and +8% from the quarter before. Operating margin was -5.2%, net loss $3.9M (4.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $93.1M | +8% | +42% |
| Operating profit | −$4.9M | — | — |
| Net earnings | −$3.9M | -428% | — |
| Operating cash flow | $3.0M | -86% | -65% |
| Free cash flow | $842K | — | -84% |
What changed
Revenue was $93.1M in Q1 2026, up 42% year over year and up 8% from the previous quarter. Sand was the largest line at 99% of revenue. Sand added $28.0M year over year (up 43%), 102% of the total change. SmartSystems declined 43%.
Gross margin was 6.6%, up 2.3 points from Q1 2025. Operating costs exceeded revenue by $4.9M, an operating margin of -5.2%. Operating expenses grew 12% against revenue growth of 42%. The fastest-growing cost line was SG&A (+16%). The quarter ended with a net loss of $3.9M, after a profit of $1.2M the previous quarter.
Operating cash flow was $3.0M (down 65% year over year). Non-cash charges added back $7.5M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $1.6M. After purchases of property, plant and equipment ($2.2M), free cash flow as the company reports it was $842K.
Questions
What was Smart Sand's revenue in the first quarter 2026?
Smart Sand (SND) reported revenue of $93.1M for the first quarter 2026 (Q1 2026), +42% from a year earlier and +8% from the quarter before.
Was Smart Sand profitable in the first quarter 2026?
Operating loss was $4.9M (-5.2% of revenue) and net loss $3.9M.
Source: Smart Sand 10-Q on SEC EDGAR.