v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Operating activities:          
Net income (loss) $ (5,558) $ 14,837 $ (4,339) $ 41,624  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Depreciation, depletion and accretion expense     79,981 43,893  
Amortization expense of acquired intangible assets 6,465 3,768 11,250 4,829  
Amortization of debt discount     2,508 1,490  
Amortization of deferred financing costs     203 196  
Loss on disposal of assets 0 11,098 0 11,098  
Stock-based compensation 8,290 5,466 14,808 9,672  
Deferred income tax     (1,623) 10,279  
Credit loss expense 4,110 0 4,110 25  
Other     (230) (774)  
Changes in operating assets and liabilities:          
Accounts receivable     (16,940) (29,509)  
Inventories     (164) (8,094)  
Spare part inventories     (4,327) (4,204)  
Prepaid expenses and other current assets     (2,377) (4,205)  
Other long-term assets     97 (519)  
Accounts payable     (9,454) 1,957  
Accounts payable - related parties     (142) (162)  
Deferred revenue     (3,979) (2,275)  
Accrued liabilities and other liabilities     11,810 25,097  
Net cash provided by operating activities     81,192 100,418  
Investing activities:          
Purchases of property, plant and equipment     (92,657) (211,276)  
Acquisition, net of cash acquired     (181,511) (142,233)  
Proceeds from insurance recovery     5,398 0  
Net cash used in investing activities     (268,770) (353,509)  
Financing Activities:          
Proceeds from equity offering, net of issuance costs     253,070 0  
Proceeds from term loan borrowings     188,805 151,539  
Principal payments on term loan borrowings     (9,477) (5,598)  
Payment on ABL credit facility     (70,000) 0  
Payment on Deferred Cash Consideration Note     (101,252) 0  
Payments under finance leases     (1,691) (911)  
Repurchases of Common Stock under share repurchase program     (200) 0  
Repayment of equipment finance notes     (2,064) (1,071)  
Dividends     (61,341) (45,173)  
Taxes withheld on vesting RSUs     (1,021) 0  
Issuance costs associated with debt financing     (146) (1,146)  
Proceeds from ABL credit facility     0 50,000  
Net cash provided by financing activities     194,683 147,640  
Net increase (decrease) in cash and cash equivalents     7,105 (105,451)  
Cash and cash equivalents, beginning of period     71,704 210,174 $ 210,174
Cash and cash equivalents, end of period $ 78,809 $ 104,723 78,809 104,723 $ 71,704
Supplemental cash flow information          
Interest     25,652 16,932  
Taxes     1,401 2,000  
Supplemental disclosure of non-cash investing activities:          
Property, plant and equipment in accounts payable and accrued liabilities     14,226 55,826  
Acquisition consideration, equity issuance     35,385 189,082  
Equipment assets acquired through debt     9,162 0  
Hi-Crush acquisition consideration, Deferred Cash Consideration Note     $ 0 $ 107,189  

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