TUSK

MKT CAP:$125M

Mammoth Energy Services, Inc.

Market Cap

$125M

Industrials·Conglomerates·🇺🇸 United States·NASDAQ

Industrials·Conglomerates·🇺🇸·NASDAQ

Stock Price

$2.49+$0.52 (+26.40%)

Apr 22, 2026

Company Details

Mammoth Energy Services, Inc. operates as an energy service company. The company operates in four segments: Infrastructure Services, Well Completion Services, Natural Sand Proppant Services, and Drilling Services. The Infrastructure Service...

CEO

Mark Layton

IPO Date

Oct 14, 2016

Website

www.mammothenergy.com

Key Metrics TTM

Revenue

$148M

-16.6% YoY

Net Income

-$53M

EPS (Diluted)

-$1.09

Free Cash Flow

$111M

Revenue / Share

$3.05

Gross Margin

0.4%

Operating Margin

-18.8%

Net Margin

-35.7%

FCF Margin

75.3%

P/S

0.8x

P/E

—

Earnings Reports

Q4 2025

May 8, 2026

PENDING

FY 2025

Mar 6, 2026

$44M-76.4%EPS -$1.63

Q3 2025

Oct 31, 2025

$15M-13.2%EPS -$0.26

Q1 2025

May 7, 2025

$62M+44.6%EPS -$0.01

FY 2024

Mar 7, 2025

$188M-39.3%EPS -$4.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$57M	-$15M	-$57M
Q4 21	$57M	-$7M	-$11M
Q1 22	$62M	-$9M	-$18M
Q2 22	$90M	$3M	-$5M
Q3 22	$107M	$13M	$3M
Q4 22	$103M	$12M	-$733.0K
Q1 23	$116M	$14M	$6M
Q2 23	$75M	$3M	-$8M
Q3 23	$65M	$909.0K	-$10M
Q4 23	$53M	-$1M	-$10M
Q1 24	$43M	-$4M	-$13M
Q2 24	$16M	-$1M	-$96M
Q3 24	$17M	$463.0K	-$6M
Q4 24	$53M	-$974.0K	-$11M
Q1 25	$62M	$3M	-$4M
Q3 25	$15M	-$2M	-$7M

Valuation

Quarter	P/S	P/E
Q3 21	0.5x	—
Q4 21	0.5x	—
Q1 22	0.6x	—
Q2 22	0.5x	—
Q3 22	0.4x	—
Q4 22	0.3x	—
Q1 23	0.3x	5.5x
Q2 23	0.3x	7.6x
Q3 23	0.3x	16.5x
Q4 23	0.4x	—
Q1 24	0.5x	—
Q2 24	0.7x	—
Q3 24	1.0x	—
Q4 24	1.0x	—
Q1 25	0.8x	—
Q3 25	0.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$20M	-$23M
Q4 21	-$3M	-$4M
Q1 22	-$2M	-$4M
Q2 22	$2M	-$1M
Q3 22	-$5M	-$11M
Q4 22	$21M	$18M
Q1 23	$3M	-$3M
Q2 23	$29M	$25M
Q3 23	-$8M	-$12M
Q4 23	$6M	$2M
Q1 24	$47M	$43M
Q2 24	-$7M	-$12M
Q3 24	-$1M	-$3M
Q4 24	$141M	$135M
Q1 25	$3M	-$5M
Q3 25	$730.0K	-$17M

Capital Expenditures

Quarter	CapEx
Q3 21	$3M
Q4 21	$1M
Q1 22	$1M
Q2 22	$3M
Q3 22	$5M
Q4 22	$4M
Q1 23	$6M
Q2 23	$5M
Q3 23	$5M
Q4 23	$4M
Q1 24	$4M
Q2 24	$5M
Q3 24	$2M
Q4 24	$6M
Q1 25	$7M
Q3 25	$17M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-18.5%	+41.1%
Q4 21	-32.7%	-37.3%
Q1 22	-6.7%	-10.8%
Q2 22	+89.0%	+14.3%
Q3 22	+86.5%	-9.3%
Q4 22	+79.8%	+53.0%
Q1 23	+86.7%	+37.4%
Q2 23	-15.9%	-11.9%
Q3 23	-39.4%	-28.4%
Q4 23	-48.7%	-39.8%
Q1 24	-62.9%	-48.9%
Q2 24	-78.8%	+35.1%
Q3 24	-73.7%	-68.6%
Q4 24	+0.8%	+2.7%
Q1 25	+44.6%	+17.0%
Q3 25	-7.6%	-80.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$252.0K	0.4%
Q4 21	$241.0K	0.4%
Q1 22	$241.0K	0.4%
Q2 22	$200.0K	0.2%
Q3 22	$241.0K	0.2%
Q4 22	$241.0K	0.2%
Q1 23	$647.0K	0.6%
Q2 23	$261.0K	0.3%
Q3 23	$219.0K	0.3%
Q4 23	$218.0K	0.4%
Q1 24	$219.0K	0.5%
Q2 24	$219.0K	1.4%
Q3 24	$0	0.0%
Q4 24	$218.0K	0.4%
Q1 25	$211.0K	0.3%
Q3 25	$201.0K	1.4%

OpEx Breakdown

Quarter	SG&A
Q3 21	$42M
Q4 21	$4M
Q1 22	$9M
Q2 22	$8M
Q3 22	$10M
Q4 22	$13M
Q1 23	$8M
Q2 23	$10M
Q3 23	$10M
Q4 23	$8M
Q1 24	$9M
Q2 24	$95M
Q3 24	$7M
Q4 24	$10M
Q1 25	$7M
Q3 25	$5M

Revenue Segments

Quarter	Contract Land and Directional Drilling Services	Infrastructure	Natural Sand Proppant	Other Segments	Well Completion	Product And Service Including Related Party	Drilling Services
Q3 21	$1M	$23M	$4M	$6M	$23M	—	—
Q4 21	—	$23M	$11M	$731.0K	$21M	—	—
Q1 22	—	—	—	—	—	$62M	—
Q4 22	—	—	—	—	—	$103M	—
Q2 23	—	$28M	$12M	$5M	$27M	—	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$8M	$2M	$10M
Q2 22	$13M	$2M	$14M
Q3 22	$11M	$0	$11M
Q4 22	$17M	$0	$17M
Q1 23	$12M	$0	$12M
Q2 23	$9M	$0	$9M
Q3 23	$11M	$0	$11M
Q4 23	$17M	$0	$17M
Q1 24	$22M	$0	$22M
Q2 24	$10M	$0	$10M
Q3 24	$4M	$0	$4M
Q4 24	$61M	$0	$61M
Q1 25	$57M	$0	$57M
Q2 25	$127M	$0	$127M
Q3 25	$98M	$13M	$111M
Q4 25	$102M	$20M	$122M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	47M	+0.6%	+0.2%
Q4 21	47M	0.0%	+2.0%
Q1 22	47M	+0.3%	+2.0%
Q2 22	48M	+1.7%	+2.7%
Q3 22	48M	+0.4%	+2.5%
Q4 22	48M	+0.3%	+2.7%
Q1 23	48M	+0.1%	+2.5%
Q2 23	48M	-0.6%	+0.2%
Q3 23	48M	+0.5%	+0.2%
Q4 23	48M	0.0%	-0.0%
Q1 24	48M	+0.0%	-0.1%
Q2 24	48M	+0.2%	+0.7%
Q3 24	48M	+0.2%	+0.4%
Q4 24	48M	-0.1%	+0.3%
Q1 25	48M	+0.2%	+0.4%
Q3 25	48M	+0.4%	+0.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$70.1K	820
Q4 21	$73.1K	783
Q1 22	$79.6K	783
Q2 22	$114.5K	783
Q3 22	$136.9K	783
Q4 22	$99.2K	1K
Q1 23	$112.2K	1K
Q2 23	$72.7K	1K
Q3 23	$62.6K	1K
Q4 23	$72.0K	733
Q1 24	$58.9K	733
Q2 24	$21.9K	733
Q3 24	$23.3K	733
Q4 24	$83.3K	639
Q1 25	$97.8K	639
Q3 25	$23.2K	639

Revenue / Employee