Smart Sand Income Statement 2025-2011 | SND

Brief overview of income trends at Smart Sand

The conclusions below are based on five years of reported results. The revenue attributed to Smart Sand moved from $122 million to $330 million between the two endpoints. Across the full period, sales moved by +169.9%; the average annual rate was 22%. This pace points to rapid expansion of the business.

At the gross-profit level, the result moved from 18.1 million dollars to 37.9 million dollars, a change of +109.1%. Direct costs outpaced revenue, limiting the benefit of changes in sales. At the margin level, the figure shifted from 14.8% to 11.5%. The contraction points to pressure from direct costs or weaker pricing power.

Over the period, EBITDA shifted from 9.1 million dollars to 24.8 million dollars, a change of +172.2%. Operating performance was consistent with the change in sales. EBITDA margin moved from 7.4% to 7.5%. The operating margin showed no pronounced shift.

The net result moved from $38 million to $1.3 million, or −96.5%. The business generated less net income by the end of the period.

The five-year change in capitalization reached −0.9%: from $73.3 million to $72.6 million. Investors responded cautiously to the improvement in the business.

Overall conclusion

The five-year picture requires weighing both strengths and weaknesses. The constructive conclusion rests on stable operating profitability and revenue expansion. The overall view is constrained by pressure from direct costs and lower net income. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.