Solaris Energy Infrastructure Inc'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), Solaris Energy Infrastructure Inc reported revenue of $622.2M (+98.7% year on year) and net income of $58.4M (+102.0% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Service revenue | $349.8M | $276.7M | — | $300.0M |
| Leasing revenue | $272.4M | $36.4M | — | — |
| Total revenue | $622.2M | $313.1M | $292.9M | $320.0M |
| Cost of services, excluding depreciation and amortization | $215.6M | $177.0M | — | — |
| Cost of leasing revenue, excluding depreciation | $121.2M | $8.0M | — | — |
| Non-leasing depreciation and amortization | $49.9M | $41.2M | — | — |
| Depreciation of leasing equipment | $34.4M | $6.0M | — | — |
| Gain on sale of Kingfisher facility | $0 | ($7.5M) | — | — |
| Gain on reversal of property tax contingency | $0 | ($2.5M) | — | — |
| Selling, general and administrative | $61.7M | $35.6M | $27.0M | $23.1M |
| Impairment of property, plant and equipment | $0 | $0 | $1.4M | — |
| Other operating expenses, net | $4.1M | $2.5M | $639.0K | $1.8M |
| Total operating costs and expenses | $486.8M | $260.3M | $243.0M | $278.2M |
| Operating income | $135.4M | $52.8M | $49.9M | $41.8M |
| Interest expense | ($27.6M) | — | — | — |
| Interest income | $6.7M | — | — | — |
| Loss on debt extinguishment | ($41.5M) | ($4.1M) | — | — |
| Income before income tax expense | $73.1M | $36.9M | $46.6M | $41.3M |
| Provision for income taxes | ($14.7M) | ($8.0M) | ($7.8M) | ($7.8M) |
| Net income | $58.4M | $28.9M | $38.8M | $33.5M |
| Less: net income related to non-controlling interests | ($28.2M) | ($13.1M) | ($14.4M) | ($12.4M) |
| Net income attributable to Solaris Energy Infrastructure, Inc. | $30.2M | $15.8M | $24.3M | $21.2M |
| Less: income attributable to participating securities | ($1.3M) | ($1.0M) | — | — |
| Net income attributable to common stockholders - basic | $28.9M | $14.8M | — | — |
| Earnings per share of Class A common stock - basic (in dollars per share) | $0.69 | $0.51 | $0.78 | $0.64 |
| Earnings per share of Class A common stock - diluted (in dollars per share) | $0.66 | $0.50 | $0.78 | $0.64 |
| Basic weighted-average shares of Class A common stock outstanding (in shares) | 41.9M | 28.8M | 29.7M | 31.5M |
| Diluted weighted-average shares of Class A common stock outstanding (in shares) | 49.5M | 29.2M | 29.7M | 31.5M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Leasing revenue | $105.7M | $105.4M | $82.4M | $61.9M |
| Service revenue | $113.7M | $90.9M | $84.4M | $87.4M |
| Total revenue | $219.4M | $196.2M | $166.8M | $149.3M |
| Cost of leasing revenue, excluding depreciation | $41.5M | $47.7M | $36.6M | $25.2M |
| Cost of services, excluding depreciation and amortization | $51.7M | $51.1M | $52.2M | $54.0M |
| Non-leasing depreciation and amortization | $13.2M | $12.1M | $12.6M | $12.2M |
| Depreciation of leasing equipment | $26.4M | $12.6M | $9.8M | $6.1M |
| Selling, general and administrative | $30.0M | $20.9M | $15.5M | $14.9M |
| Other operating expenses, net | $234.0K | $1.3M | $2.2M | $1.2M |
| Total operating costs and expenses | $162.9M | $145.7M | $128.9M | $113.8M |
| Operating income | $56.5M | $50.6M | $37.9M | $35.6M |
| Interest expense | ($16.9M) | ($4.8M) | — | — |
| Interest income | $5.5M | $2.8M | — | — |
| Loss on debt extinguishment | ($14.8M) | ($1.3M) | — | — |
| Income before income tax expense | $30.2M | $47.3M | $28.9M | $30.1M |
| Provision for income taxes | ($5.0M) | ($15.2M) | ($4.1M) | ($6.0M) |
| Net income | $25.2M | $32.1M | $24.8M | $24.1M |
| Less: net income related to non-controlling interests | ($4.7M) | ($10.6M) | ($10.3M) | ($12.2M) |
| Net income attributable to Solaris Energy Infrastructure, Inc. | $20.5M | $21.4M | $14.6M | $12.0M |
| Less: income attributable to participating securities | ($633.0K) | ($755.0K) | ($568.0K) | ($553.0K) |
| Net income attributable to Class A common shareholders | $19.9M | $20.7M | $14.0M | $11.4M |
| Earnings per share of Class A common stock - basic (in dollars per share) | $0.34 | $0.40 | $0.32 | $0.30 |
| Earnings per share of Class A common stock - diluted (in dollars per share) | $0.26 | $0.32 | $0.31 | $0.30 |
| Basic weighted-average shares of Class A common stock outstanding (in shares) | 59.2M | 52.2M | 43.8M | 37.8M |
| Diluted weighted-average shares of Class A common stock outstanding (in shares) | 79.0M | 71.7M | 50.4M | 37.8M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $353.3M | $114.3M | $5.8M | $8.8M |
| Restricted cash | $0 | $45.6M | — | — |
| Accounts receivable, net of allowances of $681 and $681, respectively | $103.1M | $71.8M | $47.3M | $64.5M |
| Prepaid expenses and other current assets | $12.2M | $8.4M | $4.3M | $5.2M |
| Inventories | $14.4M | $10.9M | $6.7M | $5.3M |
| Total current assets | $483.0M | $251.0M | $67.1M | $88.7M |
| Property, plant and equipment, net | $271.2M | $298.8M | $325.1M | $298.2M |
| Equipment held for lease, net | $1.1B | $339.9M | — | — |
| Non-current inventories | $1.3M | $1.7M | $1.6M | $1.6M |
| Non-current receivables, net of allowance of $341 and $654, respectively | $0 | — | — | — |
| Operating lease right-of-use assets | $10.6M | $10.0M | $10.7M | $4.0M |
| Goodwill | $105.4M | $104.0M | $13.0M | $13.0M |
| Intangible assets, net | $59.8M | $71.5M | $702.0K | $1.4M |
| Deferred tax assets | $122.6M | $43.6M | $48.0M | $55.4M |
| Other assets | $15.1M | $1.3M | $342.0K | $268.0K |
| Total assets | $2.1B | $1.1B | $468.3M | $462.6M |
| Accounts payable | $77.5M | $21.1M | $12.7M | $25.9M |
| Accrued liabilities | $67.6M | $23.2M | $20.3M | $25.3M |
| Deferred revenue | $5.8M | $4.9M | — | — |
| Payables related to Tax Receivable Agreement, current portion | $1.8M | $3.6M | — | — |
| Finance lease liabilities, current portion | $2.1M | $2.3M | $2.5M | $1.9M |
| Operating lease liabilities, current portion | $2.2M | $1.6M | $1.4M | $917.0K |
| Long-term debt, current portion | $4.0M | $8.1M | — | — |
| Other current liabilities | $2.3M | $717.0K | $408.0K | $790.0K |
| Total current liabilities | $163.3M | $65.5M | $37.2M | $55.9M |
| Long-term debt, net of current portion | $180.0M | $307.6M | — | — |
| Convertible notes | $880.4M | — | — | — |
| Payables related to Tax Receivable Agreement, net of current portion | $74.5M | $73.7M | — | — |
| Operating lease liabilities, net of current portion | $8.2M | $8.1M | $11.5M | $6.2M |
| Finance lease liabilities, net of current portion | $2.1M | $1.2M | $2.4M | $3.4M |
| Deferred tax liabilities | $7.4M | — | — | — |
| Other long-term liabilities | $44.0K | $44.0K | $44.0K | $367.0K |
| Total liabilities | $1.3B | $456.2M | $152.7M | $145.4M |
| Preferred stock, $0.01 par value, 50,000 shares authorized, none issued and outstanding | 0 | — | — | — |
| Common stock | $510.0K | $359.0K | $290.0K | $317.0K |
| Additional paid-in capital | $537.8M | $337.6M | $188.4M | $202.6M |
| Retained earnings | $26.1M | $17.7M | $17.3M | $12.8M |
| Total stockholders' equity attributable to Solaris Energy Infrastructure, Inc. | $564.3M | $355.6M | $206.0M | $215.7M |
| Non-controlling interest | $262.9M | $311.1M | $109.6M | $101.4M |
| Total stockholders' equity | $827.3M | $666.7M | $315.6M | $317.1M |
| Total liabilities and stockholders' equity | $2.1B | $1.1B | $468.3M | $462.6M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $824.1M | $344.5M | $106.7M | $99.6M |
| Accounts receivable, net of allowances of $653 and $1,652, respectively | $210.0M | $148.3M | $130.4M | $114.1M |
| Prepaid expenses and other current assets | $9.9M | $10.0M | $12.1M | $17.5M |
| Inventories | $25.1M | $18.1M | $12.4M | $11.8M |
| Total current assets | $1.1B | $520.8M | $261.6M | $282.5M |
| Equipment held for lease, net | $2.5B | $2.0B | $763.1M | $671.7M |
| Property, plant and equipment, net | $259.5M | $263.6M | $277.3M | $287.8M |
| Non-current inventories | $1.2M | $1.2M | $1.4M | $1.6M |
| Operating lease right-of-use assets | $17.6M | $16.5M | $9.6M | $9.5M |
| Goodwill | $105.4M | $105.4M | $106.4M | $104.0M |
| Intangible assets, net | $69.2M | $72.7M | $62.7M | $65.2M |
| Deferred tax assets | $99.1M | $38.8M | $78.7M | $44.1M |
| Restricted cash | $70.7M | — | $0 | $39.4M |
| Other assets | $30.7M | $17.0M | $6.3M | $6.3M |
| Total assets | $4.2B | $3.0B | $1.6B | $1.5B |
| Accounts payable | $167.6M | $64.6M | $42.6M | $41.2M |
| Accrued liabilities | $56.2M | $48.6M | $32.7M | $25.2M |
| Deferred revenue, current portion | $18.0M | $29.4M | — | — |
| Payables related to Tax Receivable Agreement, current portion | $0 | $0 | $1.8M | — |
| Finance lease liabilities, current portion | $2.5M | $2.3M | $1.8M | $1.9M |
| Operating lease liabilities, current portion | $3.6M | $3.0M | $1.8M | $1.7M |
| Long-term debt, current portion | $11.4M | $319.7M | $17.9M | $16.7M |
| Other current liabilities | $0 | $411.0K | $3.9M | $149.0K |
| Total current liabilities | $259.3M | $468.1M | $109.2M | $90.7M |
| Long-term debt, net of current portion | $1.6B | $395.4M | $364.9M | $369.5M |
| Convertible notes | $882.7M | $881.6M | $149.5M | $149.3M |
| Payables related to Tax Receivable Agreement, net of current portion | $109.2M | $75.0M | $75.1M | $73.7M |
| Deferred revenue, net of current portion | $174.4M | $46.5M | — | — |
| Operating lease liabilities, net of current portion | $13.9M | $13.4M | $7.5M | $7.5M |
| Finance lease liabilities, net of current portion | $3.0M | $2.7M | $1.8M | $1.6M |
| Deferred tax liabilities | $11.7M | $8.6M | — | — |
| Other long-term liabilities | $44.0K | $44.0K | $44.0K | $44.0K |
| Total liabilities | $3.1B | $1.9B | $708.1M | $692.4M |
| Preferred stock, $0.01 par value, 50,000 shares authorized, none issued and outstanding | 0 | 0 | — | — |
| Common stock | $608.0K | $564.0K | $467.0K | $386.0K |
| Additional paid-in capital | $847.8M | $739.9M | $512.0M | $373.4M |
| Retained earnings | $53.5M | $40.6M | $34.1M | $25.4M |
| Total stockholders' equity attributable to Solaris Energy Infrastructure, Inc. | $902.0M | $781.1M | $546.6M | $399.1M |
| Non-controlling interest | $258.6M | $323.6M | $312.4M | $381.2M |
| Total stockholders' equity | $1.2B | $1.1B | $859.0M | $780.3M |
| Total liabilities and stockholders' equity | $4.2B | $3.0B | $1.6B | $1.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $58.4M | $28.9M | $38.8M | $33.5M |
| Depreciation and amortization | $84.3M | $47.2M | $36.2M | $30.4M |
| Impairment of property, plant and equipment | $0 | $0 | $1.4M | — |
| Gain on sale of Kingfisher facility | $0 | ($7.5M) | — | — |
| Stock-based compensation | $23.4M | $10.6M | $7.7M | $6.1M |
| Loss on debt extinguishment | $41.5M | $4.1M | — | — |
| Deferred income tax expense | $16.1M | $6.5M | $7.3M | $7.7M |
| Change in payables related to Tax Receivable Agreement | $2.4M | ($1.6M) | — | — |
| Other | $2.7M | $2.3M | ($913.0K) | ($169.0K) |
| Accounts receivable | ($25.4M) | ($19.2M) | $17.2M | ($34.6M) |
| Accounts receivable - related party | $0 | $2.4M | $2.5M | ($1.3M) |
| Prepaid expenses and other assets | ($3.7M) | ($4.2M) | $2.4M | $6.4M |
| Inventories | ($3.1M) | ($2.3M) | ($6.2M) | ($4.6M) |
| Accounts payable | $8.5M | ($3.5M) | ($10.6M) | $13.3M |
| Accrued liabilities | $7.0M | $5.0M | ($6.3M) | $5.4M |
| Deferred revenue | $853.0K | ($7.0M) | — | — |
| Property tax contingency | $0 | ($2.5M) | — | $3.1M |
| Cash settlement of stock-based compensation | ($3.7M) | — | — | — |
| Net cash provided by operating activities | $209.1M | $59.4M | $89.9M | $68.0M |
| Business acquisition, net of cash acquired | ($29.2M) | ($122.1M) | — | — |
| Deposit for pending investment | ($10.0M) | — | — | — |
| Receivable from Sellers | $0 | ($6.5M) | — | — |
| Cash received from Sellers | $0 | $6.5M | — | — |
| Investment in property, plant and equipment and equipment held for lease | ($646.8M) | ($188.4M) | ($64.4M) | ($81.4M) |
| Proceeds from sale of Kingfisher facility | $0 | $5.0M | — | — |
| Proceeds from disposal of property, plant and equipment | $3.4M | $126.0K | $2.3M | $409.0K |
| Short-term loan | ($7.6M) | ($29.8M) | — | — |
| Repayment of short-term loan | $3.8M | $29.8M | — | — |
| Net cash used in investing activities | ($686.4M) | ($305.0M) | ($62.0M) | ($79.5M) |
| Capital contribution from non-controlling interest in Stateline | $86.0M | — | — | — |
| Share repurchases and retirements | $0 | ($8.1M) | ($26.4M) | — |
| Class A common stock offering | $0 | $160.9M | — | — |
| Distributions to non-controlling interest unitholders | ($12.1M) | ($8.5M) | ($6.6M) | ($19.6M) |
| Dividend paid to Class A common shareholders | ($21.8M) | ($14.6M) | ($14.1M) | — |
| Payments under finance leases | ($3.2M) | ($3.0M) | ($2.5M) | ($1.6M) |
| Proceeds from issuance of insurance notes payable | $4.5M | $3.6M | — | — |
| Payments under insurance premium financing | ($3.6M) | ($2.9M) | ($1.8M) | ($1.5M) |
| Cancelled shares withheld for taxes from vesting of restricted stock | -10.5M | -1.7M | — | — |
| Payment of liabilities under Tax Receivable Agreement | ($3.6M) | — | — | — |
| Payment of fees related to Class A common stock offering | $0 | ($5.3M) | — | — |
| Borrowings from convertible notes | $902.5M | — | — | — |
| Borrowings from debt financing | $186.0M | $362.0M | $35.0M | $11.0M |
| Repayments of debt financing | ($325.0M) | ($67.0M) | ($13.0M) | ($3.0M) |
| Payment of fees related to debt extinguishment | ($32.1M) | ($4.0M) | — | — |
| Payment for capped call transactions related to 2031 Notes | ($65.6M) | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $57.3M | $32.1M | $61.9M | $37.1M |
| Depreciation and amortization | $64.3M | $24.8M | $60.8M | $38.4M |
| Stock-based compensation | $18.5M | $6.7M | $17.5M | $12.2M |
| Loss on debt extinguishment | $16.1M | $1.3M | — | — |
| Amortization of debt financing costs | $4.7M | — | — | — |
| Deferred income tax expense | $20.2M | $15.2M | $12.3M | $9.1M |
| Other | $333.0K | $2.8M | $1.6M | $1.5M |
| Accounts receivable | ($105.7M) | ($45.1M) | ($52.6M) | ($41.8M) |
| Prepaid expenses and other assets | $616.0K | $661.0K | ($3.8M) | ($1.6M) |
| Inventories | ($10.6M) | ($3.5M) | ($1.2M) | ($780.0K) |
| Accounts payable | $8.4M | ($11.8M) | $7.8M | $1.8M |
| Accrued liabilities | $10.0M | ($8.9M) | $7.8M | ($1.3M) |
| Deferred revenue | $181.3M | $64.9M | $1.8M | ($1.0M) |
| Cash settlement of stock-based compensation | $0 | $0 | ($3.7M) | ($3.7M) |
| Net cash provided by operating activities | $265.5M | $79.0M | $113.2M | $49.9M |
| Investment in equipment held for lease and property, plant and equipment | ($835.2M) | ($343.4M) | ($392.3M) | ($329.5M) |
| Asset acquisition, net of cash acquired | ($107.6M) | ($108.4M) | — | — |
| Other | ($7.7M) | ($2.8M) | $3.4M | ($7.5M) |
| Net cash used in investing activities | ($950.5M) | ($454.6M) | ($422.1M) | ($337.0M) |
| Borrowings from debt financing | $1.8B | $399.0M | — | — |
| Borrowings from convertible notes | $0 | — | $227.0M | $227.0M |
| Repayments of debt financing | ($463.9M) | — | ($4.1M) | — |
| Payments of fees related to debt extinguishment | ($5.9M) | — | — | — |
| Payments of financing costs related to debt and convertible notes | ($44.2M) | ($5.0M) | ($13.1M) | ($13.2M) |
| Distributions to non-controlling interest unitholders | ($3.6M) | ($2.3M) | ($10.3M) | ($7.9M) |
| Dividends paid to Class A common stock shareholders | ($14.5M) | ($6.9M) | ($15.4M) | ($9.6M) |
| Payments under finance leases | ($1.7M) | ($887.0K) | ($2.4M) | ($1.6M) |
| Proceeds from issuance of insurance notes payable | $0 | — | $4.5M | $149.0K |
| Payments under insurance premium financing | ($1.6M) | ($1.2M) | ($2.4M) | ($717.0K) |
| Cancelled shares withheld for taxes from vesting of restricted stock and restricted stock units | -14.7M | -14.3M | -10.5M | -10.2M |
| Payment of liabilities under Tax Receivable Agreement | ($1.7M) | ($1.7M) | ($3.6M) | ($3.6M) |
| Capital contributions from non-controlling interest in Stateline | $0 | — | $86.0M | $86.0M |
| Net cash provided by financing activities | $1.2B | $366.7M | $255.7M | $266.3M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $541.5M | ($8.9M) | ($53.2M) | ($20.8M) |
| Cash, cash equivalents and restricted cash at beginning of period | $353.3M | $353.3M | $159.9M | $159.9M |
| Cash, cash equivalents and restricted cash at end of period | $894.8M | — | $106.7M | $139.0M |
| Additions to equipment held for lease and property, plant and equipment not yet paid at period-end | $141.6M | $74.2M | $21.6M | $29.5M |
| Additions to property, plant, and equipment through finance leases | $3.1M | $1.8M | $2.7M | $1.7M |
| Unpaid capitalized interest on equipment held for leases | $5.5M | $2.9M | — | — |
| Issuance of common stock for asset acquisition | $238.4M | $238.4M | $19.3M | — |
| Asset acquisition cost incurred but not paid at period-end | $2.8M | $3.1M | — | — |
| Incurrence of debt for asset acquisition | $123.2M | $123.2M | — | — |
| Capitalized depreciation in property, plant and equipment | $0 | $0 | $273.0K | $190.0K |
| Capitalized stock-based compensation | $0 | $0 | $493.0K | $335.0K |
| Interest paid, net of capitalized interest | $5.3M | $88.0K | $19.6M | $12.0M |
Solaris Energy Infrastructure Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.