Filing Flows › Smart Sand (SND) › Q2 2026 › vs Q2 2025
Smart Sand (SND) Q2 2026 vs Q2 2025 (year over year)
Smart Sand's revenue rose $29.3M (+34%) from $85.8M in Q2 2025 to $115M in Q2 2026. The biggest changes: Sand +$29.3M (+35%); SmartSystems +$21K (+2%). Gross margin 17.2% against 10.4% (+6.8 pts).
Smart Sand, Q2 2026: revenue $115M (+34% year over year), operating margin 8.7%, net earnings $10.2M, operating cash flow $3.4M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 17.2% | 10.4% | +6.8 pts |
| Operating margin | 8.7% | -0.1% | +8.8 pts |
| Net margin | 8.8% | 24.9% | -16.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Sand | $114M | $84.6M | $29.3M | +35% |
| SmartSystems | $1.2M | $1.2M | $21K | +2% |
| Revenue | $115M | $85.8M | $29.3M | +34% |
| Gross profit | $19.8M | $9.0M | $10.9M | +121% |
| Cost of revenue | $95.2M | $76.8M | $18.4M | +24% |
| Operating profit | $10.1M | −$77K | $10.1M | — |
| Operating expenses | $9.8M | $9.0M | $740K | +8% |
| Pre-tax earnings | $10.2M | −$327K | $10.5M | — |
| Net earnings | $10.2M | $21.4M | −$11.2M | -52% |
| Income tax | $52K | −$21.7M | $21.8M | — |
| Operating cash sources | $18.6M | $29.7M | −$11.1M | -37% |
| Depreciation & amortization | $7.7M | $7.3M | $407K | +6% |
| Share-based compensation | $712K | $987K | −$275K | -28% |
| Working capital & other | $15.2M | $34.8M | −$19.6M | -56% |
| Operating cash flow | $3.4M | −$5.1M | $8.6M | — |
| Capital expenditures | $4.8M | $2.7M | $2.1M | +78% |
| Negative free cash flow (OCF − capex) | $1.4M | $7.8M | −$6.5M | -83% |
Questions
How much did Smart Sand's revenue grow year over year in Q2 2026?
Smart Sand's revenue rose $29.3M (+34%) from $85.8M in Q2 2025 to $115M in Q2 2026.
What drove Smart Sand's revenue change in Q2 2026?
Sand +$29.3M (+35%); SmartSystems +$21K (+2%).