ProFrac Holding Corp (ACDC) financial statements: income statement, balance sheet and cash flow

ProFrac Holding Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), ProFrac Holding Corp reported revenue of $1.9B (-11.4% year on year) and net income of ($374.3M) (-70.2% year on year).

Income statement

ProFrac Holding Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$1.9B	$2.2B	$2.6B	$2.4B
Cost of revenues, exclusive of depreciation, depletion and amortization	$1.5B	$1.5B	$1.7B	$1.4B
Selling, general, and administrative	$190.5M	$204.6M	$268.5M	$243.1M
Depreciation, depletion and amortization	$416.3M	$442.2M	$438.4M	$267.3M
Impairment of long-lived assets and goodwill	$52.6M	—	—	—
Acquisition and integration costs	$200.0K	$7.8M	$21.8M	—
Other operating expense, net	$53.4M	$27.1M	$29.5M	$15.3M
Total operating costs and expenses	$2.2B	$2.3B	$2.5B	$2.0B
Operating income (loss)	($225.8M)	($60.4M)	$166.6M	$412.4M
Interest expense, net	($138.8M)	($156.6M)	($154.9M)	($59.5M)
Other income (expense), net	($3.8M)	$3.0M	($36.2M)	$16.5M
Loss before income taxes	($368.4M)	($214.8M)	($58.0M)	$351.8M
Income tax benefit (expense)	$12.9M	$7.0M	($1.2M)	($9.1M)
Net loss	($355.5M)	($207.8M)	($59.2M)	$342.7M
Less: net (income) loss attributable to noncontrolling interests	($13.5M)	($7.3M)	$3.3M	$28.4M
Less: net income attributable to redeemable noncontrolling interests	$0	$0	($41.8M)	($206.0M)
Net loss attributable to ProFrac Holding Corp.	($369.0M)	($215.1M)	($97.7M)	$91.5M
Net loss attributable to Class A common shareholders	($374.3M)	($219.9M)	($107.5M)	—
Basic Loss per Class A common share	-$2.22	-$1.38	-$0.82	$2.06
Diluted Loss per Class A common share	-$2.22	-$1.38	-$0.82	$2.06
Weighted average Class A common shares outstanding, basic	168.3M	159.9M	130.9M	44.3M
Weighted average Class A common shares outstanding, diluted	168.3M	159.9M	130.9M	44.5M

ProFrac Holding Corp income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$498.1M	$449.6M	$403.1M	$501.9M
Cost of revenues, exclusive of depreciation, depletion and amortization	$388.1M	$354.4M	$324.1M	$374.7M
Selling, general, and administrative	$43.7M	$43.6M	$43.0M	$51.4M
Depreciation, depletion and amortization	$97.0M	$97.1M	$103.0M	$104.7M
Other operating expense, net	$7.2M	$900.0K	$11.8M	$25.3M
Total operating costs and expenses	$536.0M	$496.0M	$481.9M	$556.2M
Operating loss	($37.9M)	($46.4M)	($78.8M)	($54.3M)
Interest expense, net	($33.2M)	($32.8M)	($34.5M)	($35.1M)
Loss before income taxes	($71.1M)	($79.2M)	($112.6M)	($99.1M)
Income tax expense	($3.6M)	($1.6M)	$20.2M	($4.4M)
Net loss	($74.7M)	($80.8M)	($92.4M)	($103.5M)
Less: net income attributable to noncontrolling interests	($5.0M)	($2.7M)	($8.5M)	($2.4M)
Net loss attributable to ProFrac Holding Corp.	($79.7M)	($83.5M)	($100.9M)	($105.9M)
Net loss attributable to Class A common shareholders	($81.0M)	($84.9M)	($102.2M)	($107.2M)
Basic Loss per Class A share	-$0.45	-$0.47	-$0.60	-$0.67
Diluted Loss per Class A share	-$0.45	-$0.47	-$0.60	-$0.67
Weighted average Class A common shares outstanding, basic	182.0M	182.0M	170.8M	160.2M
Weighted average Class A common shares outstanding, diluted	182.0M	182.0M	170.8M	160.2M

Balance sheet

ProFrac Holding Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents (includes VIE balances of $5.7 and $4.4)	$22.9M	$14.8M	$25.3M	$35.1M
Accounts receivable, net (net of allowances for credit losses of $14.6 and $2.7) (includes VIE balances of $19.0 and $17.3)	$266.8M	$312.7M	$346.1M	$535.5M
Accounts receivable - related party, net	$19.9M	$16.1M	$6.8M	—
Inventories (includes VIE balances of $10.6 and $12.9)	$151.3M	$201.1M	$236.6M	$249.5M
Prepaid expenses and other current assets (includes VIE balances of $0.9 and $0.9)	$22.6M	$29.4M	$23.3M	$43.2M
Total current assets	$483.5M	$574.1M	$638.1M	$865.4M
Property, plant, and equipment (net of accumulated depreciation of $1,582.2 and $1,312.4) (includes VIE net balances of $29.6 and $16.7)	$1.5B	$1.8B	$1.8B	$1.4B
Operating lease right-of-use assets, net	$154.3M	$158.6M	$87.2M	$112.9M
Goodwill	$290.2M	$302.0M	$325.9M	$240.5M
Intangible assets, net	$111.8M	$148.9M	$173.5M	$203.1M
Deferred tax assets (includes VIE balances of $29.0 and $0.0)	$29.0M	$0	$300.0K	$400.0K
Other assets (includes VIE balances of $1.0 and $1.0)	$40.0M	$35.8M	$37.8M	$56.3M
Total assets	$2.6B	$3.0B	$3.1B	$2.9B
Accounts payable (includes VIE balances of $48.0 and $37.4)	$257.1M	$324.3M	$319.0M	$339.4M
Accounts payable - related party	$42.2M	$18.1M	$21.9M	$24.0M
Accrued expenses (includes VIE balances of $8.5 and $6.0)	$74.0M	$67.2M	$65.6M	$115.4M
Current portion of long-term debt (includes VIE balances of $3.5 and $4.8)	$144.7M	$164.6M	$126.4M	$127.6M
Current portion of long-term debt- related party	$5.0M	—	—	—
Current portion of operating lease liabilities (includes VIE balances of $1.3 and $1.5)	$44.8M	$26.0M	$24.5M	$36.0M
Other current liabilities	$28.8M	$56.6M	$84.1M	$25.7M
Other current liabilities - related party	$800.0K	$3.2M	$7.4M	—
Total current liabilities	$597.4M	$660.0M	$648.9M	$668.1M
Long-term debt	$832.7M	$931.1M	$923.5M	$735.0M
Long-term debt - related party (includes VIE balances of $39.6 and $0)	$42.9M	$13.3M	$18.6M	—
Operating lease liabilities (includes VIE balances of $5.6 and $6.5)	$115.5M	$137.1M	$67.8M	$81.0M
Deferred tax liabilities	$11.8M	$14.9M	—	—
Tax receivable agreement liability	$82.0M	$82.9M	$68.1M	—
Other liabilities	$10.1M	$9.2M	$15.2M	$36.0M
Total liabilities	$1.7B	$1.8B	$1.7B	$1.6B
Series A redeemable convertible preferred stock, $0.01 par value, 50 thousand shares authorized, issued and outstanding	68.8M	63.5M	58.7M	—
Redeemable noncontrolling interest	$0	$0	—	$2.5B
Common stock, value	$1.8M	$1.5M	$1.5M	$1.5M
Additional paid-in capital	$1.3B	$1.2B	$1.2B	—
Accumulated deficit	($610.2M)	($235.9M)	($16.0M)	$1.2B
Accumulated other comprehensive income	$0	$100.0K	$300.0K	—
Total stockholders' equity attributable to ProFrac Holding Corp.	$717.5M	$1.0B	$1.2B	($1.2B)
Noncontrolling interests	$94.4M	$69.2M	$58.7M	$72.2M
Total stockholders' equity	$811.9M	$1.1B	$1.3B	($1.1B)
Total liabilities, mezzanine equity, and stockholders' equity	$2.6B	$3.0B	$3.1B	$2.9B

ProFrac Holding Corp balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents (includes VIE balances of $4.4 and $5.7)	$18.8M	$33.5M	$58.0M	$26.0M
Accounts receivable, net (net of allowances for credit losses of $14.2 and $14.6) (includes VIE balances of $43.5 and $19.0)	$334.0M	$318.8M	$269.1M	$333.8M
Accounts receivable - related party, net	$5.7M	$5.6M	$19.1M	$18.9M
Inventories (includes VIE balances of $26.6 and $10.6)	$174.8M	$159.3M	$166.7M	$180.9M
Prepaid expenses and other current assets (includes VIE balances of $0.5 and $0.9)	$38.8M	$17.2M	$28.4M	$20.7M
Total current assets	$572.1M	$534.4M	$541.3M	$580.3M
Property, plant, and equipment (net of accumulated depreciation of $1,696.4 and $1,582.2) (includes VIE net balances of $31.8 and $29.6)	$1.4B	$1.4B	$1.6B	$1.6B
Operating lease right-of-use assets, net	$128.2M	$140.2M	$131.8M	$138.0M
Goodwill	$290.2M	$290.2M	$301.3M	$301.3M
Intangible assets, net	$93.8M	$102.8M	$120.8M	$129.9M
Deferred tax assets (includes VIE balances of $24.4 and $29.0)	$24.4M	$27.6M	$30.4M	—
Other assets (includes VIE balances of $1.0 and $1.0)	$48.4M	$42.0M	$48.9M	$45.2M
Total assets	$2.5B	$2.6B	$2.7B	$2.8B
Accounts payable (includes VIE balances of $75.2 and $48.0)	$323.7M	$296.2M	$276.6M	$335.8M
Accounts payable - related party	$50.1M	$53.1M	$21.5M	$30.0M
Accrued expenses (includes VIE balances of $5.4 and $8.5)	$67.4M	$70.6M	$80.9M	$77.0M
Current portion of long-term debt (includes VIE balances of $10.5 and $3.5)	$159.9M	$151.2M	$153.6M	$131.0M
Current portion of long-term debt --- related party	$5.4M	$5.0M	$5.0M	$5.0M
Current portion of operating lease liabilities (includes VIE balances of $1.3 and $1.3)	$41.4M	$42.9M	$27.4M	$26.7M
Other current liabilities	$28.8M	$31.8M	$29.7M	$33.0M
Other current liabilities - related party	$400.0K	$600.0K	$900.0K	$1.6M
Total current liabilities	$677.1M	$651.4M	$595.6M	$640.1M
Long-term debt	$877.7M	$866.7M	$907.0M	$941.9M
Long-term debt - related party (includes VIE balances of $39.8 and $39.6)	$40.5M	$41.7M	$4.6M	$6.3M
Operating lease liabilities (includes VIE balances of $4.8 and $5.6)	$92.6M	$103.1M	$109.9M	$116.6M
Deferred tax liabilities	$11.8M	$11.8M	$11.2M	$14.8M
Tax receivable agreement liability	$82.0M	$82.0M	$82.9M	$82.9M
Other liabilities	$9.1M	$9.1M	$9.9M	$9.8M
Total liabilities	$1.8B	$1.8B	$1.7B	$1.8B
Series A redeemable convertible preferred stock, $0.01 par value, 50 thousand shares authorized, issued and outstanding	71.5M	70.2M	67.4M	66.1M
Common stock, value	$1.8M	$1.8M	$1.8M	$1.5M
Additional paid-in capital	$1.3B	$1.3B	$1.3B	$1.2B
Accumulated deficit	($776.1M)	($695.1M)	($466.2M)	($361.9M)
Total stockholders' equity attributable to ProFrac Holding Corp.	$542.5M	$617.2M	$862.0M	$875.5M
Noncontrolling interests	$103.1M	$97.4M	$91.9M	$76.7M
Total stockholders' equity	$645.6M	$714.6M	$953.9M	$952.2M
Total liabilities, mezzanine equity, and stockholders' equity	$2.5B	$2.6B	$2.7B	$2.8B

Cash flow statement

ProFrac Holding Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net loss	($355.5M)	($207.8M)	($59.2M)	$342.7M
Depreciation, depletion and amortization	$416.3M	$442.2M	$438.4M	$267.3M
Amortization of acquired unfavorable contracts	($7.6M)	($46.5M)	—	—
Stock-based compensation	$9.3M	$7.3M	$29.8M	$67.4M
Loss (gain) on insurance recoveries	$300.0K	—	—	—
Loss (gain) on disposal of assets, net	$18.1M	$300.0K	($1.7M)	$2.1M
Amortization of debt issuance costs	$11.7M	$14.5M	$24.3M	$6.7M
Loss (gain) on investments, net	$6.8M	($400.0K)	$38.5M	($16.5M)
Provision for credit losses, net of recoveries	$13.7M	—	—	—
Impairment of long-lived assets and goodwill	$52.6M	—	—	—
Deferred tax expense (benefit)	($14.1M)	($10.7M)	$100.0K	$3.7M
Other non-cash items, net	$1.2M	($100.0K)	—	$2.0M
Accounts receivable	$26.9M	$55.5M	$204.8M	($203.3M)
Inventories	$38.8M	$64.7M	$19.1M	($105.1M)
Prepaid expenses and other assets	$6.9M	($1.9M)	$26.5M	($26.4M)
Accounts payable	($22.4M)	($7.6M)	($68.2M)	$42.9M
Accrued expenses	$2.7M	($1.3M)	($43.8M)	$30.1M
Other liabilities	($16.2M)	($20.9M)	($8.4M)	—
Net cash provided by operating activities	$189.5M	$367.3M	$553.5M	$415.2M
Investment in property, plant & equipment	($169.9M)	($255.0M)	($267.0M)	($356.2M)
Proceeds from sale of assets	$5.8M	$72.9M	$6.2M	$48.3M
Other	$400.0K	($2.0M)	($500.0K)	($22.8M)
Net cash used in investing activities	($163.7M)	($372.3M)	($715.8M)	($1.0B)
Proceeds from issuance of long-term debt	$118.5M	$136.7M	$1.2B	$818.9M
Repayments of long-term debt	($136.1M)	($157.2M)	($946.7M)	($531.7M)
Borrowings from revolving credit agreements	$1.8B	$1.9B	$1.6B	$567.9M
Repayments of revolving credit agreements	($1.8B)	($1.9B)	($1.7B)	($402.7M)
Payment of debt issuance costs	($1.8M)	($3.6M)	($62.3M)	($38.6M)
Cash settlement of vested stock awards	($1.2M)	—	—	—
Tax withholding related to net share settlement of noncontrolling interest equity awards	($1.6M)	($1.5M)	($800.0K)	—
Payment of stock issuance costs	($3.4M)	$0	($1.1M)	($27.4M)
Proceeds from issuance of common stock	$83.0M	$0	—	$329.1M
Other	($500.0K)	$0	—	($1.7M)
Net cash provided by (used in) financing activities	($17.7M)	($5.5M)	$149.7M	$645.9M
Net increase (decrease) in cash, cash equivalents, and restricted cash	$8.1M	($10.5M)	($12.6M)	$32.5M
Cash, cash equivalents, and restricted cash beginning of period	$14.8M	$25.3M	$37.9M	$5.4M
Cash, cash equivalents, and restricted cash end of period	$22.9M	$14.8M	$25.3M	$37.9M
Capital expenditures included in accounts payable	$8.6M	$32.4M	$44.9M	$26.9M
Cash payments for interest	$125.5M	$137.8M	$139.1M	$35.0M
Cash payments for income taxes	$2.1M	$3.0M	$300.0K	$4.8M

ProFrac Holding Corp cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net loss	($155.5M)	($80.8M)	($215.0M)	($118.9M)
Depreciation, depletion and amortization	$194.1M	$97.1M	$313.7M	$210.7M
Stock-based compensation	$3.4M	$900.0K	$6.6M	$1.9M
Loss on disposal of assets, net	$2.5M	($2.0M)	$14.1M	$8.6M
Amortization of debt issuance costs	$5.6M	$2.8M	$8.9M	$6.0M
Deferred tax expense	$4.6M	$1.4M	($16.5M)	—
Other non-cash items, net	$200.0K	$0	$400.0K	$200.0K
Accounts receivable	($68.2M)	($52.8M)	$26.4M	($38.0M)
Inventories	($23.5M)	($8.0M)	$24.1M	$9.9M
Prepaid expenses and other assets	($1.8M)	$3.5M	($7.3M)	$4.7M
Accounts payable	$78.6M	$48.6M	($23.3M)	$47.2M
Accrued expenses	($6.6M)	($3.5M)	$9.5M	$5.6M
Other liabilities	($1.2M)	$2.1M	($13.9M)	($10.8M)
Net cash provided by operating activities	$32.2M	$9.3M	$140.0M	$139.1M
Investment in property, plant & equipment	($72.4M)	($40.7M)	($133.3M)	($99.0M)
Proceeds from sale of assets	$7.1M	$6.2M	$4.9M	$700.0K
Net cash used in investing activities	($65.3M)	($34.5M)	($128.0M)	($97.9M)
Proceeds from issuance of long-term debt	$25.0M	$25.0M	$38.5M	$21.6M
Repayments of long-term debt	($70.0M)	($35.3M)	($103.7M)	($71.9M)
Borrowings from revolving credit agreements	$844.0M	$416.5M	$1.3B	$916.7M
Repayments of revolving credit agreements	($744.4M)	($368.7M)	($1.3B)	($894.4M)
Payment of debt issuance costs	($1.4M)	($1.3M)	($600.0K)	($400.0K)
Tax withholding related to net share settlement of noncontrolling interest equity awards	($500.0K)	($500.0K)	—	—
Payment of deferred financing costs	($1.2M)	—	—	—
Other	($400.0K)	$100.0K	$400.0K	$400.0K
Net cash provided by (used in) financing activities	$51.1M	$35.8M	$31.2M	($30.0M)
Net increase in cash, cash equivalents, and restricted cash	$18.0M	$10.6M	$43.2M	$11.2M
Cash, cash equivalents, and restricted cash beginning of period	$22.9M	$22.9M	$14.8M	$14.8M
Cash, cash equivalents, and restricted cash end of period	$40.9M	$33.5M	$58.0M	$26.0M
Capital expenditures included in accounts payable	$9.5M	$10.0M	$10.0M	$10.6M
Acquisition of equipment through settlement of accounts receivable - related party	$15.0M	—	—	—

ProFrac Holding Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.