Smart Sand, Inc. filed its quarterly report on Form 10-Q with the SEC on November 10, 2026, covering the three and nine months ended September 30, 2026, disclosing a significant improvement in profitability compared with the same periods of 2025.

Key Highlights

  • Total revenue (nine months): $320.458 million for the nine months ended September 30, 2026, up from $244.108 million in the comparable 2025 period, according to the filing.
  • Net income (nine months): $14.660 million for the nine months ended September 30, 2026, compared with $167 thousand in the same nine-month period of 2025, as reported.
  • Third-quarter net income: $8.352 million for the three months ended September 30, 2026, versus $3.002 million in the third quarter of 2025.
  • Total assets: $353.110 million as of September 30, 2026, compared with $340.014 million at December 31, 2025.
  • Shares outstanding: 39,107,034 common shares outstanding as of September 30, 2026, per the balance sheet.
  • Gross profit (nine months): $44.974 million for the nine months ended September 30, 2026, compared with $26.622 million in the first nine months of 2025.

Smart Sand's Revenue and Profitability Shift in the First Nine Months of 2026

Smart Sand, Inc. (NASDAQ:SND), a Delaware-incorporated producer and seller of frac sand and related wellsite proppant storage systems, reported total revenue of $320.458 million for the nine months ended September 30, 2026, according to its quarterly filing. Sand revenue accounted for $317.399 million of that total, with SmartSystems revenue contributing $3.059 million. This compares with nine-month total revenue of $244.108 million for the same period in 2025, which included $240.697 million in sand revenue and $3.411 million in SmartSystems revenue.

The company disclosed nine-month gross profit of $44.974 million against total cost of goods sold of $275.484 million. Operating income for the nine-month period was $14.379 million, compared with an operating loss of $1.757 million in the first nine months of 2025. Net income of $14.660 million yielded diluted earnings per share of $0.36 for the nine months ended September 30, 2026, versus diluted earnings per share of $0.00 for the same period in 2025, as stated in the filing.

As of September 30, 2026, the company reported total assets of $353.110 million and total liabilities of $110.331 million, leaving total stockholders' equity of $242.779 million. Cash and cash equivalents stood at $21.660 million, accounts receivable at $33.786 million, and inventory at $39.411 million. The FCB ABL Credit Facility, as described in the filing, matures on September 1, 2031. Treasury stock held at cost amounted to $23.021 million, representing 10,002,061 shares repurchased as of September 30, 2026.

What Was Disclosed

Smart Sand filed a Form 10-Q for the quarter ended September 30, 2026, reporting nine-month net income of $14.660 million and total revenue of $320.458 million, alongside balance sheet data showing total assets of $353.110 million and stockholders' equity of $242.779 million.