Filing Flows › Smart Sand (SND) › How it makes money
How Smart Sand (SND) makes money
Smart Sand (SND) made $115M of revenue in the second quarter 2026 (Q2 2026), +34% from a year earlier. Sand brought in $114M (99%); SmartSystems brought in $1.2M (1%). Of every dollar of revenue, 17¢ was left as gross profit, 9¢ was left as operating profit, 9¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Sand | $114M | 99.0% | +23% | +35% |
| SmartSystems | $1.2M | 1.0% | +93% | +2% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $115M | 100.0% |
| Cost of revenue | $95.2M | 82.8% |
| Gross profit | $19.8M | 17.2% |
| Operating expenses | $9.8M | 8.5% |
| Operating profit | $10.1M | 8.7% |
| Income tax | $52K | 0.0% |
| Net earnings | $10.2M | 8.8% |
| Operating cash flow | $3.4M | 3.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $115M | +34% |
| Q1 2026 | $93.1M | +42% |
| Q4 2025 | $86.0M | -6% |
| Q3 2025 | $92.8M | +47% |
| Q2 2025 | $85.8M | +16% |
| Q1 2025 | $65.6M | -21% |
| Q4 2024 | $91.4M | +48% |
From Smart Sand's 10-Q filed Aug 11, 2026 (on EDGAR).
Questions
How does Smart Sand make money?
Smart Sand (SND) made $115M of revenue in the second quarter 2026 (Q2 2026), +34% from a year earlier. Sand brought in $114M (99%); SmartSystems brought in $1.2M (1%). Of every dollar of revenue, 17¢ was left as gross profit, 9¢ was left as operating profit, 9¢ was left as net earnings.
What is Smart Sand's biggest business?
Sand: $114M in the second quarter 2026, 99% of revenue, +35% from a year earlier.
What is Smart Sand's profit margin?
Net earnings were $10.2M, 8.8% of revenue, in the second quarter 2026; the operating margin was 8.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.