<span item_type="fundamental" item_id="f1f23d0cac050435675ba3349cd53677" counter_id="ST/US/SND" env="prod"></span><span item_type="announcement" item_id="620490557425386497" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 330.15 M.</p><p>EPS: As of FY2025, the actual value is USD 0.03.</p><p>EBIT: As of FY2025, the actual value is USD -2.991 M.</p><p></p><h3>Full Year 2025 Financial Highlights</h3><h4>Revenue</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Total tons sold reached a record 5,443,000 in 2025, up 3% from 5,263,000 tons in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Operational Metrics</h4><p>Cost of goods sold increased by 10% to $292.3 million in 2025, compared to $266.5 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Gross profit for 2025 was $37.888 million, down from $44.823 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Total operating expenses were $42.3 million in 2025, consistent with $41.8 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> The company reported an operating loss of - $4.460 million in 2025, a decrease from an operating income of $3.004 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Net income for 2025 was $1.345 million, a decrease from $2.992 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Cash Flow</h4><p>Net cash provided by operating activities significantly increased to $44.1 million in 2025, up from $17.9 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Free cash flow for the full year 2025 was $32.5 million, compared to $10.854 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Other Key Financial Indicators</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Adjusted EBITDA for 2025 was $29.9 million, a decrease from $38.8 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h3>Fourth Quarter 2025 Financial Highlights</h3><h4>Revenue</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Operational Metrics</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Net income for 4Q 2025 was $1.2 million, down from $3.0 million in 3Q 2025 and $3.7 million in 4Q 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Cash Flow</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Free cash flow for 4Q 2025 was $20.4 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h4>Other Key Financial Indicators</h4><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> Adjusted EBITDA for 4Q 2025 was $7.1 million, down from $13.6 million in 3Q 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h3>Capital and Liquidity</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h3>Shareholder Returns</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> The company repurchased $2.1 million in ordinary shares in 2025 under its existing repurchase program.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p><h3>Share Repurchase Program</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/snd-20260226.htm"></span></p><h3>Outlook / Guidance</h3><p>Smart Sand, Inc. anticipates being free cash flow positive in 2026, with sales volumes projected to grow in the five to ten percent range.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1529628/000152962826000007/a2025yeexhibit991.htm"></span></p>

Smart Sand | 8-K: FY2025 Revenue: USD 330.15 M