Smart Sand, Inc. (SND)
As-reported financials and SEC filings for Smart Sand, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About Smart Sand, Inc.
Smart Sand, Inc. supplies and services frac and industrial sand used primarily in hydraulic fracturing for oil and natural gas wells. The company produces Northern White sand and offers logistics solutions including in-basin transloading terminals and wellsite proppant storage systems. It serves oil and natural gas exploration and production companies, oilfield service companies, and industrial customers across various sectors.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at Smart Sand
- Revenue grew 6.0% to $330M in FY2025, in line with the 5.2% the year before.
- Operating margin is -1.4% in FY2025, +48.8 pp against -50.1% in FY2021.
- Most recent quarter Q2 FY2026: revenue $115M, up 34.1% from Q2 FY2025.
- Free cash flow was $33M in FY2025, 9.9% of revenue.
- Net income fell 55.0% to $1M in FY2025.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Smart Sand’s fundamentals sit among the 241 Materials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Smart Sand’s long-term debt to equity of 0.04 ranks in the 9th percentile of the 165 Materials companies reporting it. Smart Sand’s gross margin of 11.5% ranks in the 14th percentile of the 191 Materials companies reporting it.
No reported insider purchases (code P) in the last 90 days; 9 insider sales totaling $763,078. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 4 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| Two Sigma Investmentsquant | Q2 2026 | $2.0M | 395.0K | Added |
| Citadel Advisorsquant | Q2 2026 | $667,893 | 133.3K | Added |
| Millennium Managementquant | Q2 2026 | $578,505 | 115.5K | Reduced |
| Renaissance Technologiesquant | Q2 2026 | $281,061 | 56.1K | Added |
No longer held by: Point72 Asset Management (as of Q2 2026)
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-08-24 | Young James DouglasSEE REMARKS | Sell | 2.2K | $4.70 | $11K |
2026-08-21 filed 2026-08-24 | Young James DouglasSEE REMARKS | Sell | 19.1K | $4.83 | $92K |
2026-08-20 filed 2026-08-24 | Young James DouglasSEE REMARKS | Sell | 25.7K | $4.83 | $124K |
2026-08-19 | Beckelman Lee EChief Financial Officer | Sell | 50.0K | $4.79 | $240K |
2026-08-19 | Young James DouglasSEE REMARKS | Sell | 11.7K | $4.84 | $56K |
2026-08-18 filed 2026-08-19 | Young James DouglasSEE REMARKS | Sell | 16.3K | $4.93 | $80K |
2026-08-17 | Spurlin SharonDirector | Sell | 2.7K | $5.10 | $14K |
2026-08-14 filed 2026-08-17 | Spurlin SharonDirector | Sell | 15.0K | $5.06 | $76K |
2026-08-14 filed 2026-08-17 | Green Christopher M.Vice President of Accounting | Sell | 13.9K | $5.06 | $70K |
2026-05-29 filed 2026-06-01 | WHELAN RONALD PSEE REMARKS | Buy | 4.4K | $4.50 | $20K |
2026-05-26 filed 2026-05-28 | Spurlin SharonDirector | Sell | 50.0K | $4.93 | $247K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-08-14 | 2.0M | +4.8% | 6.21 |
| 2026-07-31 | 1.9M | +4.9% | 6.94 |
| 2026-07-15 | 1.8M | +41.8% | 4.98 |
| 2026-06-30 | 1.3M | +87.6% | 1.70 |
| 2026-06-15 | 686.2K | -9.2% | 1.74 |
| 2026-05-29 | 755.4K | -5.8% | 3.03 |
| 2026-05-15 | 801.5K | +9.9% | 2.66 |
| 2026-04-30 | 729.3K | +9.8% | 2.62 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $330.2M | $311.4M | $296.0M | $255.7M | $126.6M |
| Gross profit | $37.9M | $44.8M | $41.6M | $29.6M | $-13.7M |
| Operating income | $-4.5M | $3.0M | $-1.5M | $-3.1M | $-63.5M |
| Net income | $1.3M | $3.0M | $4.6M | $-703,000 | $-50.7M |
| Diluted EPS | $0.03 | $0.08 | $0.12 | $-0.02 | $-1.21 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $22.6M | $1.6M | $6.1M | $5.5M | $25.6M |
| Current assets | $88.1M | $75.5M | $61.9M | $68.1M | $73.9M |
| Total assets | $340.0M | $341.5M | $346.3M | $360.0M | $374.0M |
| Current liabilities | $49.9M | $43.2M | $54.5M | $51.9M | $48.5M |
| Long-term debt | $8.7M | $9.1M | $3.4M | $9.8M | $15.4M |
| Total liabilities | $100.3M | $97.7M | $104.0M | $116.5M | $132.9M |
| Total equity | $239.7M | $243.8M | $242.3M | $243.5M | $241.2M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $44.1M | $17.9M | $31.0M | $5.4M | $32.4M |
| Capital expenditure | $11.6M | $7.0M | $23.0M | $12.7M | $11.2M |
| Free cash flow | $32.5M | $10.9M | $8.0M | $-7.3M | $21.2M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q2 FY2026 | $115.0M | 34.1% | $10.2M | $0.25 |
| Q1 FY2026 | $93.1M | 42.0% | $-3.9M | $-0.10 |
| Q4 FY2025 | $86.0M | -5.8% | $1.2M | $0.03 |
| Q3 FY2025 | $92.8M | 46.9% | $3.0M | $0.08 |
| Q2 FY2025 | $85.8M | 16.2% | $21.4M | $0.54 |
| Q1 FY2025 | $65.6M | -21.1% | $-24.2M | $-0.62 |
| Q4 FY2024 | $91.4M | 47.5% | $3.7M | $0.09 |
| Q3 FY2024 | $63.2M | -17.9% | $-98,000 | $0.00 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Selected SEC filings
Largest Materials peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.