Smart Sand, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenues reaching $92.8 million for the three months ended September 30, 2025, a 47% increase from $63.2 million in the same period last year. The company's sand revenue alone surged by 47% to $91.6 million, driven by higher sales volumes and average prices, while SmartSystems revenue also rose to $1.1 million, up 23% from the previous year. For the nine months ending September 30, 2025, total revenue was $244.1 million, an 11% increase compared to $220.0 million in the prior year.
The company reported a net income of $3.0 million for the third quarter of 2025, a substantial turnaround from a net loss of $0.1 million in the same quarter of 2024. This improvement was attributed to increased sales volumes and lower operating expenses, despite a rise in the cost of goods sold, which increased to $77.8 million from $56.7 million year-over-year. The gross profit for the quarter was $14.9 million, reflecting a 130% increase from $6.5 million in the prior year, primarily due to the higher sales volumes and additional revenue from contractual charges.
Operationally, Smart Sand has expanded its capabilities, with total tons sold reaching approximately 1.5 million in the third quarter, compared to 1.2 million in the same quarter of 2024. The company has also been actively managing its costs, with total operating expenses decreasing to $9.6 million from $11.4 million year-over-year. The reduction in expenses was largely due to lower selling, general, and administrative costs, which fell by 6% to $9.1 million.
In terms of strategic developments, Smart Sand continues to enhance its operational footprint, having recently expanded its transloading terminal capabilities in Ohio. The company has also maintained a strong liquidity position, with cash and cash equivalents totaling $5.1 million and $30 million available under its FCB ABL Credit Facility as of September 30, 2025. Looking ahead, Smart Sand anticipates continued demand for frac sand driven by increased drilling activity and is focused on expanding its Industrial Products Solutions (IPS) business to diversify its revenue streams.
Overall, Smart Sand's latest financial results indicate a positive trajectory, with increased revenues, improved profitability, and strategic expansions positioning the company for future growth in the frac sand and industrial sand markets.
About Smart Sand, Inc.
Smart Sand, Inc. is a fully integrated provider of Northern White frac and industrial sand, offering mine-to-wellsite supply, logistics, and storage solutions. Its core business includes high-quality sand production, advanced logistics infrastructure, and proprietary SmartSystems for efficient proppant handling. Serving oil and gas exploration, industrial markets, and diversified sectors, the company emphasizes low-cost operations, sustainable practices, and innovative delivery systems to enhance well performance and logistics efficiency.
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