--- title: "Smart Sand | 8-K: FY2025 Revenue: USD 330.15 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/277099193.md" datetime: "2026-02-26T21:30:26.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277099193.md) - [en](https://longbridge.com/en/news/277099193.md) - [zh-HK](https://longbridge.com/zh-HK/news/277099193.md) --- # Smart Sand | 8-K: FY2025 Revenue: USD 330.15 M Revenue: As of FY2025, the actual value is USD 330.15 M. EPS: As of FY2025, the actual value is USD 0.03. EBIT: As of FY2025, the actual value is USD -2.991 M. ### Full Year 2025 Financial Highlights #### Revenue Smart Sand, Inc. reported total revenue of $330.2 million for the full year 2025, an increase of 6% compared to $311.4 million in 2024. Sand revenue rose by 7% year-over-year to $325.8 million in 2025 from $303.6 million in 2024, while SmartSystems revenue declined to $4.4 million in 2025 from $7.8 million in 2024. Total tons sold reached a record 5,443,000 in 2025, up 3% from 5,263,000 tons in 2024. #### Operational Metrics Cost of goods sold increased by 10% to $292.3 million in 2025, compared to $266.5 million in 2024. Gross profit for 2025 was $37.888 million, down from $44.823 million in 2024. Total operating expenses were $42.3 million in 2025, consistent with $41.8 million in 2024. The company reported an operating loss of - $4.460 million in 2025, a decrease from an operating income of $3.004 million in 2024. Net income for 2025 was $1.345 million, a decrease from $2.992 million in 2024. #### Cash Flow Net cash provided by operating activities significantly increased to $44.1 million in 2025, up from $17.9 million in 2024. Free cash flow for the full year 2025 was $32.5 million, compared to $10.854 million in 2024. #### Other Key Financial Indicators Contribution margin was $65.1 million, or $11.96 per ton sold, for 2025, down from $71.7 million, or $13.62 per ton sold, in 2024. Adjusted EBITDA for 2025 was $29.9 million, a decrease from $38.8 million in 2024. ### Fourth Quarter 2025 Financial Highlights #### Revenue Total revenue for the fourth quarter of 2025 was $86.0 million, a 7% sequential decrease from $92.8 million in the third quarter of 2025, and a 6% decrease from $91.4 million in the fourth quarter of 2024. Tons sold in 4Q 2025 were 1,478,000, consistent with 1,472,000 tons sold in 3Q 2025 and up 1% from 1,464,000 tons sold in 4Q 2024. #### Operational Metrics Cost of goods sold decreased to $74.8 million in 4Q 2025 from $77.8 million in 3Q 2025 and $77.9 million in 4Q 2024. Operating expenses for 4Q 2025 were $13.9 million, an increase from $9.6 million in 3Q 2025 and $9.8 million in 4Q 2024. Net income for 4Q 2025 was $1.2 million, down from $3.0 million in 3Q 2025 and $3.7 million in 4Q 2024. #### Cash Flow Net cash provided by operating activities was $22.4 million for 4Q 2025, a significant increase from $18.2 million in 3Q 2025 and $1.0 million in 4Q 2024. Free cash flow for 4Q 2025 was $20.4 million. #### Other Key Financial Indicators Contribution margin was $18.0 million, or $12.18 per ton sold, in 4Q 2025, compared to $21.7 million, or $14.76 per ton sold, in 3Q 2025. Adjusted EBITDA for 4Q 2025 was $7.1 million, down from $13.6 million in 3Q 2025. ### Capital and Liquidity As of December 31, 2025, Smart Sand, Inc. had $22.6 million in cash on hand and $30.0 million in undrawn availability on its existing credit facility. ### Shareholder Returns In 2025, Smart Sand, Inc. returned approximately $8 million to shareholders through dividends and stock buybacks, including special dividends of $0.05 per share in December 2025 and $0.10 per share in August 2025. The company repurchased $2.1 million in ordinary shares in 2025 under its existing repurchase program. ### Share Repurchase Program Smart Sand, Inc.’s Board of Directors approved a new two-year share repurchase program on February 23, 2026, permitting the company to repurchase up to $20.0 million of its ordinary shares, starting April 4, 2026. ### Outlook / Guidance Smart Sand, Inc. anticipates being free cash flow positive in 2026, with sales volumes projected to grow in the five to ten percent range. Capital expenditures for 2026 are expected to be between $15.0 million and $20.0 million, including approximately $12.0 million for mining expansion and potential terminal investments. The company’s board also approved a new two-year repurchase program authorizing up to $20.0 million in ordinary shares, effective April 4, 2026. ### Related Stocks - [SND.US](https://longbridge.com/en/quote/SND.US.md) ## Related News & Research - [SMART SAND, INC. 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