Duyuru • May 18
Mammoth Energy Services, Inc., Annual General Meeting, Jun 25, 2026 Mammoth Energy Services, Inc., Annual General Meeting, Jun 25, 2026. Location: 14201 caliber drive suite 300, 73134, oklahoma United States Reported Earnings • May 12
First quarter 2026 earnings released: EPS: US$0.097 (vs US$0.033 loss in 1Q 2025) First quarter 2026 results: EPS: US$0.097 (up from US$0.033 loss in 1Q 2025). Revenue: US$22.0m (up 41% from 1Q 2025). Net income: US$4.68m (up US$6.26m from 1Q 2025). Profit margin: 21% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • May 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Duyuru • Apr 20
Mammoth Energy Services, Inc. to Report Q1, 2026 Results on May 11, 2026 Mammoth Energy Services, Inc. announced that they will report Q1, 2026 results on May 11, 2026 Reported Earnings • Mar 08
Full year 2025 earnings released: US$1.32 loss per share (vs US$4.31 loss in FY 2024) Full year 2025 results: US$1.32 loss per share (improved from US$4.31 loss in FY 2024). Revenue: US$44.3m (down 76% from FY 2024). Net loss: US$63.8m (loss narrowed 69% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Duyuru • Feb 06
Mammoth Energy Services, Inc. to Report Q4, 2025 Results on Mar 06, 2026 Mammoth Energy Services, Inc. announced that they will report Q4, 2025 results on Mar 06, 2026 Duyuru • Dec 04
Qualus, LLC acquired Aquawolf LLC from Mammoth Energy Services, Inc. (NasdaqGS:TUSK) for $26 million. Qualus, LLC acquired Aquawolf LLC from Mammoth Energy Services, Inc. (NasdaqGS:TUSK) for $26 million on December 2, 2025.
For the period ending September 30, 2025, Aquawolf LLC reported total revenue of $12 million and net income of $1.3 million.
Qualus, LLC completed the acquisition of Aquawolf LLC from Mammoth Energy Services, Inc. (NasdaqGS:TUSK) on December 2, 2025. Reported Earnings • Nov 02
Third quarter 2025 earnings released: US$0.25 loss per share (vs US$0.50 loss in 3Q 2024) Third quarter 2025 results: US$0.25 loss per share (improved from US$0.50 loss in 3Q 2024). Revenue: US$14.8m (down 63% from 3Q 2024). Net loss: US$12.1m (loss narrowed 50% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Duyuru • Oct 17
Mammoth Energy Services, Inc. to Report Q3, 2025 Results on Oct 31, 2025 Mammoth Energy Services, Inc. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 10
Second quarter 2025 earnings released: US$0.74 loss per share (vs US$3.25 loss in 2Q 2024) Second quarter 2025 results: US$0.74 loss per share (improved from US$3.25 loss in 2Q 2024). Revenue: US$16.4m (down 68% from 2Q 2024). Net loss: US$35.7m (loss narrowed 77% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 3.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.9% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$213k sold). Duyuru • Aug 08
Mammoth Energy Services, Inc. Reports Unaudited Consolidated Impairment of Long-Lived Assets for the Second Quarter Ended June 30, 2025 Mammoth Energy Services, Inc. reported unaudited consolidated Impairment of long-lived assets for the second quarter ended June 30, 2025. For the quarter, the company reported Impairment of long-lived assets of $31,669,000. Duyuru • Jul 29
Mammoth Energy Services, Inc. to Report Q2, 2025 Results on Aug 08, 2025 Mammoth Energy Services, Inc. announced that they will report Q2, 2025 results at 9:30 AM, US Eastern Standard Time on Aug 08, 2025 Board Change • Jun 15
High number of new directors Independent Director Mark Plaumann was the last director to join the board, commencing their role in 2025. Recent Insider Transactions • May 23
Independent Director recently sold US$163k worth of stock On the 20th of May, Arthur Smith sold around 65k shares on-market at roughly US$2.51 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$318k more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 13
Independent Director notifies of intention to sell stock Arthur Smith intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of May. If the sale is conducted around the recent share price of US$2.53, it would amount to US$253k. Since June 2024, Arthur has owned 187.18k shares directly. Company insiders have collectively sold US$155k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 08
First quarter 2025 earnings released: US$0.011 loss per share (vs US$0.25 loss in 1Q 2024) First quarter 2025 results: US$0.011 loss per share (improved from US$0.25 loss in 1Q 2024). Revenue: US$62.5m (up 45% from 1Q 2024). Net loss: US$537.0k (loss narrowed 96% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$91.0m market cap). New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$94.8m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 07
Full year 2024 earnings released: US$4.31 loss per share (vs US$0.066 loss in FY 2023) Full year 2024 results: US$4.31 loss per share (further deteriorated from US$0.066 loss in FY 2023). Revenue: US$187.9m (down 39% from FY 2023). Net loss: US$207.3m (loss widened US$204.2m from FY 2023). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Duyuru • Feb 27
Mammoth Energy Services, Inc. to Report Q4, 2024 Results on Mar 07, 2025 Mammoth Energy Services, Inc. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Mar 07, 2025 Recent Insider Transactions • Nov 29
Independent Director recently sold US$86k worth of stock On the 25th of November, Corey Booker sold around 25k shares on-market at roughly US$3.45 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$981k more than they bought in the last 12 months. Duyuru • Nov 08
Mammoth Energy Services, Inc. Announces Resignation of Arty Straehla as Director, Effective December 31, 2024 Mammoth Energy Services, Inc. announced that has notified Mammoth's Board of Dire ctors of his decision to resign as a director of the Company, effective as of December 31, 2024. Recent Insider Transactions Derivative • Nov 08
Independent Director notifies of intention to sell stock Corey Booker intends to sell 65k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of November. If the sale is conducted around the recent share price of US$3.86, it would amount to US$250k. Since June 2024, Corey has owned 148.73k shares directly. Company insiders have collectively sold US$804k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 02
Third quarter 2024 earnings released: US$0.50 loss per share (vs US$0.023 loss in 3Q 2023) Third quarter 2024 results: US$0.50 loss per share (further deteriorated from US$0.023 loss in 3Q 2023). Revenue: US$40.0m (down 38% from 3Q 2023). Net loss: US$24.0m (loss widened US$23.0m from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Oct 28
Mammoth Energy Services, Inc. to Report Q3, 2024 Results on Nov 01, 2024 Mammoth Energy Services, Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 01, 2024 Reported Earnings • Aug 11
Second quarter 2024 earnings released: US$3.25 loss per share (vs US$0.094 loss in 2Q 2023) Second quarter 2024 results: US$3.25 loss per share (further deteriorated from US$0.094 loss in 2Q 2023). Revenue: US$51.5m (down 32% from 2Q 2023). Net loss: US$156.0m (loss widened US$151.5m from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 29
Mammoth Energy Services, Inc. to Report Q2, 2024 Results on Aug 09, 2024 Mammoth Energy Services, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 09, 2024 Reported Earnings • May 03
First quarter 2024 earnings released: US$0.25 loss per share (vs US$0.18 profit in 1Q 2023) First quarter 2024 results: US$0.25 loss per share (down from US$0.18 profit in 1Q 2023). Revenue: US$43.2m (down 63% from 1Q 2023). Net loss: US$11.8m (down 241% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • Apr 23
Mammoth Energy Services, Inc. to Report Q1, 2024 Results on May 02, 2024 Mammoth Energy Services, Inc. announced that they will report Q1, 2024 results Pre-Market on May 02, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released: US$0.066 loss per share (vs US$0.013 loss in FY 2022) Full year 2023 results: US$0.066 loss per share (further deteriorated from US$0.013 loss in FY 2022). Revenue: US$309.5m (down 14% from FY 2022). Net loss: US$3.16m (loss widened 411% from FY 2022). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • Feb 13
Mammoth Energy Services, Inc. to Report Q4, 2023 Results on Mar 01, 2024 Mammoth Energy Services, Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 01, 2024 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$3.79, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 16x in the Energy Services industry in the US. Total loss to shareholders of 14% over the past three years. Recent Insider Transactions • Dec 17
CEO & Director recently sold US$528k worth of stock On the 15th of December, Arty Straehla sold around 120k shares on-market at roughly US$4.40 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Arty's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Dec 16
CEO & Director notifies of intention to sell stock Arty Straehla intends to sell 190k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of December. If the sale is conducted around the recent share price of US$4.41, it would amount to US$838k. For the year to December 2016, Arty's total compensation was 54% salary and 46% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Arty has owned 1.20m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Nov 10
Third quarter 2023 earnings released: US$0.023 loss per share (vs US$0.16 profit in 3Q 2022) Third quarter 2023 results: US$0.023 loss per share (down from US$0.16 profit in 3Q 2022). Revenue: US$65.0m (down 39% from 3Q 2022). Net loss: US$1.09m (down 114% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 02
Mammoth Energy Services, Inc. to Report Q3, 2023 Results on Nov 09, 2023 Mammoth Energy Services, Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 09, 2023 Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Corey Booker was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$4.42, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 15x in the Energy Services industry in the US. Total returns to shareholders of 180% over the past three years. Reported Earnings • Aug 13
Second quarter 2023 earnings released: US$0.094 loss per share (vs US$0.036 profit in 2Q 2022) Second quarter 2023 results: US$0.094 loss per share (down from US$0.036 profit in 2Q 2022). Revenue: US$75.4m (down 16% from 2Q 2022). Net loss: US$4.47m (down 363% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 12
Mammoth Energy Services, Inc. (NasdaqGS:TUSK) announces an Equity Buyback for 10,000,000 shares, for $55 million. Mammoth Energy Services, Inc. (NasdaqGS:TUSK) announces a share repurchase program. Under the program, the company will repurchase up to the lesser of $55 million or 10,000,000 shares of its common stock, subject to the expected repayment and refinancing of its credit facility and other factors. Any common stock repurchased as part of such stock repurchase program will be cancelled and retired. The repurchase program has no time limit. Duyuru • Jul 23
Mammoth Energy Services, Inc. to Report Q2, 2023 Results on Aug 11, 2023 Mammoth Energy Services, Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 11, 2023 Duyuru • Jul 18
Vita Inclinata Technologies, Inc. acquired Air Rescue Systems Corp from Mammoth Energy Services, Inc. (NasdaqGS:TUSK). Vita Inclinata Technologies, Inc. acquired Air Rescue Systems Corp from Mammoth Energy Services, Inc. (NasdaqGS:TUSK) on July 17, 2023.Vita Inclinata Technologies, Inc. completed the acquisition of Air Rescue Systems Corp from Mammoth Energy Services, Inc. (NasdaqGS:TUSK) on July 17, 2023. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$4.20, the stock trades at a trailing P/E ratio of 8.9x. Average forward P/E is 9x in the Energy Services industry in the US. Total returns to shareholders of 81% over the past three years. Reported Earnings • Apr 29
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: US$0.18 (up from US$0.32 loss in 1Q 2022). Revenue: US$116.3m (up 87% from 1Q 2022). Net income: US$8.35m (up US$23.2m from 1Q 2022). Profit margin: 7.2% (up from net loss in 1Q 2022). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has increased by 69% per year whereas the company’s share price has increased by 66% per year. Reported Earnings • Feb 26
Full year 2022 earnings released: US$0.013 loss per share (vs US$2.19 loss in FY 2021) Full year 2022 results: US$0.013 loss per share (improved from US$2.19 loss in FY 2021). Revenue: US$362.1m (up 58% from FY 2021). Net loss: US$619.0k (loss narrowed 99% from FY 2021). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 07
Mammoth Energy Services, Inc. to Report Q4, 2022 Results on Feb 23, 2023 Mammoth Energy Services, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 23, 2023 Recent Insider Transactions • Nov 17
Independent Director recently sold US$141k worth of stock On the 11th of November, Arthur Smith sold around 20k shares on-market at roughly US$7.07 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$174k more than they bought in the last 12 months. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$0.16 (vs US$0.88 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.16 (up from US$0.88 loss in 3Q 2021). Revenue: US$107.2m (up 87% from 3Q 2021). Net income: US$7.73m (up US$48.6m from 3Q 2021). Profit margin: 7.2% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Seeking Alpha • Sep 03
Mammoth Energy Services: Improved Oilfield Services Outlook Is Driving Recovery Summary
Mammoth delivered improved results in Q2 2022, mainly due to its oilfield services divisions.
It believes that its well completion services division may be able to generate $100+ million in adjusted EBITDA on its own in the future.
Using more conservative numbers (based largely on 2018 results) results in a scenario where Mammoth could generate $40 million in positive cash flow once it pays off its debt.
Getting anything from PREPA would be a bonus.
Mammoth Energy Services (TUSK) has begun to show improved business results, largely due to the favorable environment for oilfield services. It generated $13 million in adjusted EBITDA in Q2 2022 (excluding interest on its Puerto Rico Electric Power Authority [PREPA] accounts receivables). Mammoth's well completion services and natural sand proppant services divisions combined to generate $13 million in adjusted EBITDA during the quarter, so without those divisions Mammoth's adjusted EBITDA would be roughly zero.
The strength in those areas should allow Mammoth to generate positive cash flow and start paying down its high interest credit facility debt. Mammoth's ability to collect its PREPA accounts receivables remains highly uncertain though. The strong commodity pricing environment that helps Mammoth's oilfield services business also adds more challenges for PREPA as nearly all of Puerto Rico's power generation comes from fossil fuels, including 80% from natural gas and oil.
In the 2020 environment, Mammoth's value was mainly from its potential to collect on its accounts receivables. The current environment for oilfield services should allow Mammoth to do well on its own though, and anything that it can get from PREPA would be a bonus.
Q2 2022 Results
Mammoth reported strong results in Q2 2022. It generated $23 million in adjusted EBITDA in Q2 2022, up from $9 million in adjusted EBITDA for Q1 2022. These numbers are inflated by the interest (approximately $10 million per quarter now) that it is charging on its Puerto Rico Electric Power Authority [PREPA] accounts receivables.
Excluding the interest-related income results in a better picture of Mammoth's actual business performance. The exclusion of that income would lead to Mammoth generating $13 million in adjusted EBITDA in Q2 2022 and negative $1 million in adjusted EBITDA in Q1 2022.
The improvement in results is primarily being driven by Mammoth's well completion services and natural sand proppant services divisions. These divisions reported $8.5 million and $4.9 million respectively in adjusted EBITDA for Q2 2022.
Mammoth now has four frac spreads working, up from two at the end of 2021. It is aiming to activate a fifth fleet in Q4 2022 and a sixth fleet in Q1 2023.
It estimates that it could generate $15 million to $18 million adjusted EBITDA per year per frac spread at current prices. With six operating fleets, this could result in $90 million to $108 million adjusted EBITDA per year.
Mammoth's Completion Services (mammothenergy.com)
Cash Flow
While Mammoth believes that it could generate $100+ million in adjusted EBITDA from its well completion services division, I believe it would be prudent to model things more conservatively. In 2018, Mammoth generated approximately $65 million in adjusted EBITDA from that division with six fleets. Adding $25 million in adjusted EBITDA from the natural sand proppant division and no net contribution from the rest of the company results in a total of $90 million in adjusted EBITDA.
If we allow for $50 million in capital expenditures, that results in $33 million in positive cash flow. Mammoth's cash flow could increase as it pays down its credit facility debt, which had an 8.75% interest rate at the end of Q2 2022.
PREPA Accounts Receivables
Mammoth is now owed approximately $358 million from PREPA, including $131 million in accrued interest. It seems doubtful that it will be able to collect anywhere near the full amount though.
PREPA is currently attempting to restructure its debt and the mediation deal deadline keeps getting pushed back. PREPA has approximately $9 billion in debt and over $4 billion in pension liabilities that it is trying to deal with. It also had been reporting a string of operating losses (before interest expense). PREPA's challenges are now compounded by high fuel costs, with 43% of Puerto Rico's power generation coming from natural gas and 37% from oil.
Notes On Valuation
I can see Mammoth Energy being worth around $6 to $7 per share now in a scenario where the performance of its oilfield services business is similar to 2018. In that scenario it could generate around $0.70 per share in free cash flow (with its current interest costs), rising to around $0.85 per share in free cash flow once it pays off its credit facility debt. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$0.036 (vs US$0.75 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.036 (up from US$0.75 loss in 2Q 2021). Revenue: US$89.7m (up 89% from 2Q 2021). Net income: US$1.70m (up US$36.5m from 2Q 2021). Profit margin: 1.9% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • May 10
First quarter 2022 earnings released: US$0.32 loss per share (vs US$0.27 loss in 1Q 2021) First quarter 2022 results: US$0.32 loss per share (down from US$0.27 loss in 1Q 2021). Revenue: US$62.3m (down 6.7% from 1Q 2021). Net loss: US$14.8m (loss widened 19% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 50% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$2.19 loss per share (up from US$2.36 loss in FY 2020). Revenue: US$229.0m (down 27% from FY 2020). Net loss: US$101.4m (loss narrowed 5.7% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 08
Third quarter 2021 earnings released: US$0.88 loss per share (vs US$0.075 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$57.5m (down 19% from 3Q 2020). Net loss: US$40.9m (down US$44.3m from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 31
Second quarter 2021 earnings released: US$0.75 loss per share (vs US$0.33 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$47.4m (down 21% from 2Q 2020). Net loss: US$34.8m (loss widened 129% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Reported Earnings • May 01
First quarter 2021 earnings released: US$0.27 loss per share (vs US$1.85 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: US$66.8m (down 31% from 1Q 2020). Net loss: US$12.4m (loss narrowed 85% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 17
CEO & Director recently sold US$796k worth of stock On the 10th of March, Arty Straehla sold around 149k shares on-market at roughly US$5.34 per share. This was the largest sale by an insider in the last 3 months. Arty has been a seller over the last 12 months, reducing personal holdings by US$805k. Reported Earnings • Feb 28
Full year 2020 earnings released: US$2.36 loss per share (vs US$1.76 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$313.1m (down 50% from FY 2019). Net loss: US$107.6m (loss widened 36% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 86% per year but the company’s share price has only fallen by 42% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 18
New 90-day high: US$6.81 The company is up 204% from its price of US$2.24 on 19 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 33% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: US$5.19 The company is up 170% from its price of US$1.92 on 24 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 49% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: US$3.19 The company is up 96% from its price of US$1.63 on 09 September 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 34% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: US$2.19 The company is up 46% from its price of US$1.50 on 21 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 8.0% over the same period.