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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has two reportable segments, Sand and SmartSystems as of December 31, 2024. The Company evaluates its segment reporting on an ongoing basis and has changed its reporting in the current period and applied that reporting retrospectively to the prior periods presented. The accounting policies for the segments are not different from the accounting policies for the Company. The Company does not currently provide asset information by reportable segment as it does not routinely evaluate the total asset position by segment. The Company’s operations in foreign countries are immaterial. The chief operating decision maker (“CODM”) is Charles Young, the Company’s chief executive officer. The CODM regularly reviews the Company’s GAAP financial statements, as well as the non-GAAP reporting measures when considering the profit and loss of the company and uses this information in deciding how to allocate resources. The Sand segment includes both frac sand sales and IPS sales. The sand production process begins the same way for each of these revenue streams. Frac Sand consists of four primary sizes of sand, called grades. IPS begins with these same frac sand grades and may contain additional sizes or custom blends of a variety of grades. The SmartSystems segment revenue is primarily from the rental of our patented SmartSystems equipment and related services provided to customers. This segment offers customers portable wellsite storage and management solutions that enable customers to unload, store, and deliver proppant at the wellsite. During the year ended December 31, 2024, three of the Company’s customer had revenues of more than 10%. Of these three customers, one had revenues in both Sand and SmartSystems segments and two had revenues in the Sand Segment. The following tables present additional segment information for the year ended December 31, 2024 and a reconciliation to amounts on the Consolidated Statement of Operations.
| Sand |  | SmartSystems |  | Total
Revenue | $ | 303,590 |  |  | $ | 7,782 |  |  | $ | 311,372 |
Segment cost of goods sold |  |  |  |  |
Logistics costs | $ | 154,628 |  |  | $ | — |  |  | $ | 154,628 |
Production costs | 78,919 |  |  | — |  |  | 78,919 |
Depreciation, depletion, and accretion of asset retirement obligations | 24,727 |  |  | 2,134 |  |  | 26,861 |
Other costs | 538 |  |  | 5,603 |  |  | 6,141 |
Total cost of goods sold | $ | 258,812 |  |  | $ | 7,737 |  |  | $ | 266,549 |
Gross profit | $ | 44,778 |  |  | $ | 45 |  |  | $ | 44,823 |
Total operating expenses |  |  |  |  | 41,819 |
Total other (expenses) income, net |  |  |  |  | (2,752) |
Income tax expense (benefit) |  |  |  |  | (2,740) |
Net income (loss) |  |  |  |  | $ | 2,992 |
Additions to property, plant and equipment | $ | 8,249 |  |  | $ | 1,237 |  |  |
The following tables present additional segment information for the year ended December 31, 2023 and a reconciliation to amounts on the Consolidated Statement of Operations.
| Sand |  | SmartSystems |  | Total
Revenue | $ | 287,479 |  |  | $ | 8,494 |  |  | $ | 295,973 |
Segment cost of goods sold |  |  |  |  |
Logistics costs | $ | 152,260 |  |  | $ | — |  |  | $ | 152,260 |
Production costs | 70,298 |  |  | — |  |  | 70,298 |
Depreciation, depletion, and accretion of asset retirement obligations | 23,287 |  |  | 2,182 |  |  | 25,469 |
Other costs | 1,336 |  |  | 5,055 |  |  | 6,391 |
Total cost of goods sold | $ | 247,181 |  |  | $ | 7,237 |  |  | $ | 254,418 |
Gross profit | $ | 40,298 |  |  | $ | 1,257 |  |  | $ | 41,555 |
Total operating expenses |  |  |  |  | 43,059 |
Total other (expenses) income, net |  |  |  |  | (748) |
Income tax expense (benefit) |  |  |  |  | (6,901) |
Net income (loss) |  |  |  |  | $ | 4,649 |
Additions to property, plant and equipment | $ | 19,700 |  |  | $ | 3,756 |  |  |
The following tables present additional segment information for the year ended December 31, 2022 and a reconciliation to amounts on the Consolidated Statement of Operations.
| Sand |  | SmartSystems |  | Total
Revenue | $ | 249,324 |  |  | $ | 6,416 |  |  | $ | 255,740 |
Segment cost of goods sold |  |  |  |  |
Logistics costs | $ | 130,729 |  |  | $ | — |  |  | $ | 130,729 |
Production costs | 64,937 |  |  | — |  |  | 64,937 |
Depreciation, depletion, and accretion of asset retirement obligations | 22,895 |  |  | 2,143 |  |  | 25,038 |
Other costs | 1,445 |  |  | 4,000 |  |  | 5,445 |
Total cost of goods sold | $ | 220,006 |  |  | $ | 6,143 |  |  | $ | 226,149 |
Gross profit | $ | 29,318 |  |  | $ | 273 |  |  | $ | 29,591 |
Total operating expenses |  |  |  |  | 32,719 |
Total other (expenses) income, net |  |  |  |  | (780) |
Income tax expense (benefit) |  |  |  |  | (3,205) |
Net income (loss) |  |  |  |  | $ | (703) |
Additions to property, plant and equipment | $ | 18,145 |  |  | $ | 804 |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. 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