Smart Sand, Inc. (SND) Income Statement
SND 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSND revenue and net income
Where SND's revenue goes
2025Each bar shows an amount and its share of revenue. SND kept 0.4% of revenue as net income.
SND profit margins
SND growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.0% | +8.9% | +22.0% | +21.3% |
| Gross profit | −20.8% | +6.3% | +14.4% | +2.9% |
| Operating income | −267.3% | — | — | — |
| Net income | −55.0% | — | −48.7% | −12.3% |
| EPS (diluted) | −78.6% | — | — | −14.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SND quarterly EPS vs estimates
Smart Sand beat the analyst EPS estimate in 3 of the last 7 quarters. Next report: November 11, 2026.
SND income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $330.2M | $311.4M | $296.0M | $255.7M | $126.6M | $122.3M | $233.1M | $212.5M | $137.2M | $59.2M |
| Cost of revenue | $294.7M | $266.5M | $254.4M | $226.1M | $142.6M | $104.2M | $152.0M | $144.9M | $100.3M | $26.6M |
| Gross profit | $35.5M | $44.8M | $41.6M | $29.6M | −$15.9M | $18.1M | $81.1M | $67.6M | $36.9M | $32.7M |
| Research & development | — | — | $793,000 | $792,000 | $792,000 | — | — | $0 | $0 | $0 |
| Sales, general & admin | $40.5M | $38.2M | $38.7M | $30.8M | $36.7M | $25.5M | $22.9M | $23.9M | $17.7M | $11.9M |
| Total operating expenses | $40.5M | $41.8M | $43.1M | $32.7M | $47.6M | $31.1M | $37.6M | $25.7M | $18.2M | $12.3M |
| Operating income | −$5.0M | $3.0M | −$1.5M | −$3.1M | −$63.5M | −$13.0M | $43.5M | $25.9M | $18.7M | $20.4M |
| Interest income | — | — | — | — | — | — | $3.6M | $2.3M | $450,000 | $8.4M |
| Interest expense | $1.5M | $1.8M | $1.3M | $1.6M | $2.0M | $2.1M | $3.6M | $2.3M | $450,000 | $8.4M |
| Income before taxes | −$5.6M | $252,000 | −$2.3M | −$3.9M | −$59.7M | $25.0M | $39.4M | $23.8M | $18.7M | $19.8M |
| Income taxes | −$6.9M | −$2.7M | −$6.9M | −$3.2M | −$9.0M | −$13.0M | $7.8M | $5.1M | −$2.8M | $9.4M |
| Net income | $1.3M | $3.0M | $4.6M | −$703,000 | −$50.7M | $38.0M | $31.6M | $18.7M | $21.5M | $10.4M |
| EBITDA | $25.9M | $31.7M | $27.3M | $25.0M | −$31.6M | $50.0M | $70.9M | $44.2M | $27.1M | $26.9M |
| EPS (diluted) | $0.03 | $0.14 | $0.14 | −$0.02 | −$1.31 | −$0.01 | $1.13 | $0.92 | $0.34 | $0.44 |
| Gross margin | 10.8% | 14.4% | 14.0% | 11.6% | −12.6% | 14.8% | 34.8% | 31.8% | 26.9% | 55.1% |
| Operating margin | −1.5% | 1.0% | −0.5% | −1.2% | −50.1% | −10.6% | 18.7% | 12.2% | 13.6% | 34.4% |
| Net margin | 0.4% | 1.0% | 1.6% | −0.3% | −40.0% | 31.0% | 13.6% | 8.8% | 15.7% | 17.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $115.0M | $93.1M | $86.0M | $92.8M | $85.8M | $65.6M | $91.4M | $63.2M | $73.8M | $83.1M | $61.9M | $76.9M |
| Cost of revenue | $95.2M | $87.6M | $75.4M | $77.8M | $76.8M | $62.8M | $77.9M | $56.7M | $60.7M | $71.2M | $64.3M | $62.5M |
| Gross profit | $19.8M | $5.5M | $10.6M | $14.9M | $9.0M | $2.8M | $13.5M | $6.5M | $13.1M | $11.8M | −$2.3M | $14.4M |
| Research & development | — | — | — | — | — | — | $792,000 | — | — | — | $793,000 | — |
| Sales, general & admin | $9.4M | $10.7M | $13.1M | $9.1M | $9.1M | $9.2M | $10.3M | $9.7M | $8.9M | $10.3M | $10.1M | $8.9M |
| Total operating expenses | $9.8M | $10.7M | $13.1M | $9.7M | $9.0M | $9.8M | $9.8M | $11.4M | $9.5M | $11.0M | $5.6M | $9.5M |
| Operating income | $10.1M | −$5.2M | −$2.4M | $5.3M | −$77,000 | −$7.0M | $3.6M | −$4.9M | $3.5M | $784,000 | −$7.9M | $4.9M |
| Interest expense | $303,000 | $255,000 | $491,000 | $320,000 | $316,000 | $342,000 | $543,000 | $344,000 | $393,000 | $489,000 | $332,000 | $276,000 |
| Income before taxes | $10.2M | −$5.0M | −$3.1M | $5.1M | −$327,000 | −$7.3M | $3.2M | −$5.2M | $1.9M | $391,000 | −$8.1M | $4.8M |
| Income taxes | $52,000 | −$1.2M | −$4.3M | $2.1M | −$21.7M | $17.0M | −$541,000 | −$5.1M | $2.3M | $607,000 | −$3.3M | −$1.9M |
| Net income | $10.2M | −$3.9M | $1.2M | $3.0M | $21.4M | −$24.2M | $3.7M | −$98,000 | −$430,000 | −$216,000 | −$4.8M | $6.7M |
| EBITDA | $18.2M | $3.0M | $5.0M | $12.8M | $6.7M | $576,000 | $11.6M | $2.9M | $11.0M | $8.3M | −$476,000 | $12.3M |
| EPS (diluted) | $0.25 | −$0.10 | $0.03 | $0.08 | $0.54 | −$0.62 | $0.10 | −$0.00 | $0.03 | $0.01 | −$0.12 | $0.18 |
| Gross margin | 17.2% | 5.9% | 12.4% | 16.1% | 10.4% | 4.2% | 14.7% | 10.3% | 17.7% | 14.2% | −3.8% | 18.7% |
| Operating margin | 8.7% | −5.6% | −2.8% | 5.7% | −0.1% | −10.8% | 3.9% | −7.8% | 4.8% | 0.9% | −12.8% | 6.4% |
| Net margin | 8.8% | −4.1% | 1.4% | 3.2% | 24.9% | −37.0% | 4.1% | −0.2% | −0.6% | −0.3% | −7.7% | 8.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SND's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SND financial results
In fiscal year 2025 (ended December 31, 2025), Smart Sand reported revenue of $330.2 million, up 6.0% from the year before. It had net income of $1.3 million (down 55.0%), a net profit margin of 0.4%. Diluted earnings per share came to $0.03. Over five years revenue grew at an average rate of 22.0% a year.
See the SND stock overview for the latest quote and news, or the SND chart for price history and technical indicators.
SND income statement FAQ
What is Smart Sand's annual revenue?
Smart Sand reported total revenue of $330.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 6.0% from $311.4 million the previous year.
Is Smart Sand profitable?
Yes. Smart Sand reported net income of $1.3 million in fiscal 2025, a net profit margin of 0.4%; its operating margin was −1.5%.
What is Smart Sand's gross margin?
Smart Sand's gross margin was 10.8% in fiscal 2025: for every $100 of revenue, Smart Sand kept $11 after the direct cost of its products and services.
How fast is Smart Sand growing?
Revenue grew 22.0% a year on average over the last five fiscal years, from $122.3 million to $330.2 million.
What are Smart Sand's earnings per share?
Smart Sand earned $0.03 per diluted share in fiscal 2025, compared with $0.14 a year earlier.
When will Smart Sand report its next earnings?
Smart Sand is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Smart Sand's fiscal year end?
Smart Sand's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.