$PUMP

ProPetro Holding Corp.

CIK:0001680247|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]	Service [Member]	Service [Member]
REVENUE - Service revenue	$ 305,811	$ 326,151	$ 576,496	$ 685,567
COSTS AND EXPENSES
Cost of services (excluding depreciation and amortization)	233,993	253,173	445,687	517,029
General and administrative expenses (including stock-based compensation)	33,129	28,490	60,283	56,122
Depreciation and amortization	43,463	43,309	84,077	91,990
Loss (gain) on disposal of assets	(1,590)	4,346	(2,330)	14,092
Total costs and expenses	308,995	329,318	587,717	679,233
OPERATING (LOSS) INCOME	(3,184)	(3,167)	(11,221)	6,334
OTHER INCOME (EXPENSE):
Interest expense	(3,007)	(1,811)	(5,671)	(3,541)
Other income, net	4,009	195	5,395	3,138
Total other income (expense), net	1,002	(1,616)	(276)	(403)
INCOME (LOSS) BEFORE INCOME TAXES	(2,182)	(4,783)	(11,497)	5,931
INCOME TAX (EXPENSE) BENEFIT	(5,931)	(2,372)	(259)	(3,484)
NET (LOSS) INCOME	$ (8,113)	$ (7,155)	$ (11,756)	$ 2,447
NET (LOSS) INCOME PER COMMON SHARE:
Basic (in dollars per share)	$ (0.07)	$ (0.07)	$ (0.10)	$ 0.02
Diluted (in dollars per share)	$ (0.07)	$ (0.07)	$ (0.10)	$ 0.02
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	122,714	103,900	119,829	103,611
Diluted (in shares)	122,714	103,900	119,829	104,920

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (11,756)	$ 2,447
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	84,077	91,990
Deferred income tax expense	258	3,531
Amortization of deferred debt issuance costs	941	216
Stock-based compensation	10,621	8,070
Loss (gain) on disposal of assets	(2,330)	14,092
Unrealized gain on short-term investment	0	(314)
Business acquisition contingent consideration adjustments	(500)	(400)
Changes in operating assets and liabilities:
Accounts receivable	(32,016)	(14,731)
Other current assets	(1,459)	(1,903)
Inventories	(9,705)	(220)
Prepaid expenses	7,786	6,191
Accounts payable	16,855	2,461
Accrued and other current liabilities	6,007	(2,527)
Net cash provided by operating activities	68,779	108,903
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(104,722)	(78,044)
Proceeds from sale of assets	5,509	8,676
Proceeds from note receivable from sale of business	0	844
Net cash used in investing activities	(99,213)	(68,524)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of revolving credit facility borrowings	(45,000)	0
Repayments of equipment financing term loans	(8,281)	0
Payments of finance lease obligations	(9,671)	(9,231)
Repayments of insurance financing	0	(2,979)
Payment of debt issuance costs	(24,741)	(425)
Proceeds from issuance of convertible senior notes	690,000	0
Purchase of capped calls related to convertible senior notes	(36,846)	0
Proceeds from issuance of common stock under public equity offering	164,306	0
Payment of costs related to issuance of common stock under public equity offering	(1,204)	0
Proceeds from exercise of equity awards	92	0
Tax withholdings paid for net settlement of equity awards	(5,597)	(2,816)
Payment of excise tax on share repurchases	0	(531)
Net cash provided by (used in) financing activities	723,058	(15,982)
NET INCREASE IN CASH AND CASH EQUIVALENTS	692,624	24,397
CASH AND CASH EQUIVALENTS - Beginning of period	91,334	50,443
CASH AND CASH EQUIVALENTS - End of period	783,958	74,840
SUPPLEMENTAL CASH FLOWS DISCLOSURE:
Interest paid - net of amounts capitalized	5,335	3,472
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures included in accounts payable and accrued liabilities	18,675	29,136
Equipment purchases financed and corresponding issuances of loans	60,370	18,910
Leasehold improvements financed by operating lease landlord	0	350
Deferred tax asset recognized on purchase of capped calls	$ 7,967	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 783,958	$ 91,334
Accounts receivable - net of allowance for credit losses of $0 and $0, respectively	232,768	200,753
Inventories	23,028	13,323
Prepaid expenses	12,110	19,896
Other current assets	3,051	1,398
Total current assets	1,054,915	326,704
PROPERTY AND EQUIPMENT - net of accumulated depreciation	876,207	793,475
OPERATING LEASE RIGHT-OF-USE ASSETS	69,629	99,787
FINANCE LEASE RIGHT-OF-USE ASSETS	1,762	10,637
OTHER NONCURRENT ASSETS:
Intangible assets - net of amortization	50,751	55,476
Other noncurrent assets	6,567	4,811
Total other noncurrent assets	57,318	60,287
TOTAL ASSETS	2,059,831	1,290,890
CURRENT LIABILITIES:
Accounts payable	121,178	115,009
Accrued and other current liabilities	64,671	65,981
Interim debt - net of debt issuance costs	10,915	2,113
Current maturities of long-term debt - net of debt issuance costs	21,387	13,844
Operating lease liabilities	36,707	43,572
Finance lease liabilities	2,906	12,442
Total current liabilities	257,764	252,961
DEFERRED INCOME TAXES	55,724	63,433
LONG-TERM DEBT - net of debt issuance costs and current maturities	764,941	105,613
NONCURRENT OPERATING LEASE LIABILITIES	20,888	35,641
NONCURRENT FINANCE LEASE LIABILITIES	147	0
OTHER LONG-TERM LIABILITIES	2,942	3,400
Total liabilities	1,102,406	461,048
COMMITMENTS AND CONTINGENCIES (Note 13)
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized, 122,823,917 and 104,310,266 shares issued, respectively	123	104
Additional paid-in capital	1,037,059	897,739
Accumulated deficit	(79,757)	(68,001)
Total shareholders’ equity	957,425	829,842
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,059,831	$ 1,290,890