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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segment Reporting
The Company has two reportable segments, Sand and SmartSystems, as of June 30, 2025. The Company evaluates its segment reporting on an ongoing basis. 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 three months ended June 30, 2025, two of the Company’s customers had revenues of more than 10%. Of these two customers, all had revenues only in the Sand segment. The following tables present additional segment information for the three months ended June 30, 2025 and a reconciliation to amounts on the condensed consolidated statement of operations.
SandSmartSystemsTotal
Revenue$84,590 $1,180 $85,770 
Segment cost of goods sold
Logistics costs$48,089 $— $48,089 
Production costs21,308 — 21,308 
Depreciation, depletion, and accretion of asset retirement obligations6,276 551 6,827 
Other costs— 589 589 
Total cost of goods sold$75,673 $1,140 $76,813 
Gross profit$8,917 $40 $8,957 
Total operating expenses9,034 
Total other (expenses) income, net(250)
Income tax expense (benefit)(21,723)
Net income (loss)$21,396 
Additions to property, plant and equipment$3,066 $31 
During the six months ended June 30, 2025, three of the Company’s customers had revenues of more than 10%. Of these three customers, all had revenues only in the Sand segment. The following tables present additional segment information for the six months ended June 30, 2025 and a reconciliation to amounts on the condensed consolidated statement of operations.
SandSmartSystemsTotal
Revenue$149,054 $2,274 $151,328 
Segment cost of goods sold
Logistics costs$84,329 $— $84,329 
Production costs40,470 — 40,470 
Depreciation, depletion, and accretion of asset retirement obligations12,532 1,101 13,633 
Other costs— 1,167 1,167 
Total cost of goods sold$137,331 $2,268 $139,599 
Gross profit$11,723 $6 $11,729 
Total operating expenses18,856 
Total other (expenses) income, net(463)
Income tax expense (benefit)(4,755)
Net income (loss)$(2,835)
Additions to property, plant and equipment$5,804 $31 
During the three months ended June 30, 2024, five of the Company’s customers had revenues of more than 10%. Of these five customers, four had revenues only in the Sand segment and one had revenues in the Sand segment and SmartSystems segment. The following tables present additional segment information for the three months ended June 30, 2024 and a reconciliation to amounts on the condensed consolidated statement of operations.
SandSmartSystemsTotal
Revenue$71,020 $2,780 $73,800 
Segment cost of goods sold
Logistics costs$34,856 $— $34,856 
Production costs17,521 — 17,521 
Depreciation, depletion, and accretion of asset retirement obligations6,215 501 6,715 
Other costs311 1,323 1,635 
Total cost of goods sold$58,903 $1,824 $60,727 
Gross profit$12,117 $956 $13,073 
Total operating expenses9,545 
Total other (expenses) income, net(1,628)
Income tax expense (benefit)2,330 
Net income (loss)$(430)
Additions to property, plant and equipment$2,145 $313 
During the six months ended June 30, 2024, two of the Company’s customers had revenues of more than 10%. Of these two customers, one had revenues only in the Sand segment and one had revenues in the Sand segment and SmartSystems segment. The following tables present additional segment information for the six months ended June 30, 2024 and a reconciliation to amounts on the condensed consolidated statement of operations.
SandSmartSystemsTotal
Revenue$150,739 $6,113 $156,852 
Segment cost of goods sold
Logistics costs$75,967 $— $75,967 
Production costs38,677 — 38,677 
Depreciation, depletion, and accretion of asset retirement obligations12,364 1,048 13,411 
Other costs862 3,050 3,913 
Total cost of goods sold$127,870 $4,098 $131,968 
Gross profit$22,869 $2,015 $24,884 
Total operating expenses20,572 
Total other (expenses) income, net(2,021)
Income tax expense (benefit)2,937 
Net income (loss)$(646)
Additions to property, plant and equipment$4,256 $561