← Atlas Energy Solutions Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | — | — | $3.8m | ($6.0m) | $4.3m | $217.0m | $226.5m | $59.9m | ($50.3m) | |
| Depreciation, depletion and accretion expense | — | — | — | — | $24.6m | $28.6m | $41.6m | $102.2m | $165.5m | |
| Amortization expense of acquired intangible assets | — | — | — | — | — | $0 | $0 | $12.3m | $23.5m | |
| Amortization of debt discount | — | — | — | — | $7.3m | $457k | $761k | $3.6m | $5.7m | |
| Amortization of deferred financing costs | — | — | — | — | $739k | $442k | $337k | $435k | $403k | |
| Amortization (Notes 6, 7, & 8) | $1.9m | $1.8m | $1.8m | $1.8m | $1.8m | $1.8m | $1.8m | $1.9m | $1.9m | |
| Non-cash lease amortization and accretion (Note 13) | — | — | — | — | — | $752k | $683k | $353k | $235k | |
| Amortization of deferred gain on sale of aircraft | ($104k) | ($155k) | $0 | — | — | — | — | — | — | |
| Deferred income tax | — | — | — | — | $360k | ($2k) | $29.2m | $15.0m | ($17.5m) | |
| Income Tax Expense | $73k | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Gain on extinguishment of liabilities (Note 25) | $0 | ($186k) | $0 | $0 | — | — | — | — | — | |
| Change in fair value of contingent consideration | — | — | — | — | — | — | $0 | $0 | ($3.4m) | |
| Loss on disposal of assets | — | — | — | $0 | $0 | $0 | $0 | $19.7m | $0 | |
| Stock and unit-based compensation | $581k | $386k | $44k | $168k | $129k | $678k | $7.4m | $22.4m | $33.2m | |
| Credit loss expense | — | — | — | — | — | — | $28k | $25k | $4.8m | |
| Other | ($3k) | — | — | — | ($105k) | $293k | $139k | ($1.6m) | $2.2m | |
| Accounts receivable | — | — | — | — | ($17.6m) | ($44.2m) | $2.2m | ($13.1m) | ($10.8m) | |
| Accounts receivable - related party | — | — | — | — | ($188k) | ($768k) | $868k | $0 | ($72k) | |
| Inventories | — | — | — | — | ($364k) | ($2.4m) | ($835k) | ($6.6m) | $3.7m | |
| Spare part inventories | — | — | — | — | ($617k) | ($4.2m) | ($4.6m) | ($4.7m) | ($15.5m) | |
| Prepaid expenses and other current assets | — | — | — | — | ($1.2m) | ($2.0m) | ($10.0m) | $6.5m | ($14.7m) | |
| Other long-term assets | — | — | — | — | ($596k) | ($6.5m) | ($1.4m) | ($644k) | $2.2m | |
| Accounts payable | — | — | — | — | $5.7m | $7.9m | $5.2m | $22.9m | ($25.1m) | |
| Accounts payable - related parties | — | — | — | — | $480k | ($464k) | $123k | ($51k) | ($204k) | |
| Deferred revenue | — | — | — | — | $2.0m | ($2.0m) | $0 | ($2.5m) | ($7.3m) | |
| Accrued liabilities and other liabilities | — | — | — | — | $3.7m | $13.0m | $1.6m | $20.8m | $21.0m | |
| Acquisitions, net of cash acquired | — | — | — | — | — | $0 | $0 | ($153.4m) | ($204.2m) | |
| Proceeds from insurance recovery | — | — | — | — | — | $0 | $0 | $14.7m | $7.6m | |
| Proceeds from equity offering, net of issuance costs | — | — | — | — | — | — | $0 | $0 | $253.1m | |
| Proceeds from term loan borrowing | — | — | — | — | $178.2m | $0 | $0 | $168.5m | $186.8m | |
| Proceeds from ABL credit facility | — | — | — | — | — | $0 | $0 | $70.0m | $50.0m | |
| Principal payments on term loan borrowings | — | — | — | — | ($172.9m) | ($28.5m) | ($16.6m) | ($14.4m) | ($17.5m) | |
| Payment on ABL credit facility | — | — | — | — | — | — | — | $0 | ($70.0m) | |
| Payment on Deferred Cash Consideration Note | — | — | — | — | — | — | $0 | $0 | ($101.3m) | |
| Payments under finance leases | — | — | — | — | — | ($1.0m) | ($2.0m) | ($2.6m) | ($4.0m) | |
| Repayment of equipment finance notes | — | — | — | — | — | $0 | $0 | ($3.6m) | ($5.5m) | |
| Taxes withheld on vesting RSUs | — | — | — | — | — | $0 | $0 | ($2.1m) | ($2.5m) | |
| Net proceeds from IPO | — | — | — | — | $0 | $0 | $303.4m | $0 | $0 | |
| Payment of offering costs | — | — | $0 | $0 | $0 | $0 | ($6.0m) | $0 | $0 | |
| Member distributions prior to IPO | — | — | — | — | ($10.0m) | ($45.0m) | ($15.0m) | $0 | $0 | |
| Prepayment fee on 2021 Term Loan Credit Facility | — | — | — | — | $0 | $0 | ($2.6m) | $0 | $0 | |
| Interest | $4k | ($59k) | ($17k) | ($21k) | $19.2m | $14.9m | $15.2m | $38.5m | $48.8m | |
| Taxes (net of refunds) | $73k | $0 | — | — | $14k | $468k | $11.4m | $2.3m | $914k | |
| Property, plant and equipment in accounts payable and accrued liabilities | — | — | — | — | $2.6m | $23.3m | $44.4m | $37.3m | $8.4m | |
| Acquisition consideration, equity issuance | — | — | — | — | — | $0 | $0 | $189.1m | $33.9m | |
| Contingent consideration | — | — | — | — | — | — | $0 | $0 | $1.9m | |
| Equipment assets acquired through debt | $3.1m | ($10k) | ($217k) | $0 | ($19.4m) | $0 | $0 | $5.5m | $19.8m | |
| Hi-Crush acquisition consideration, Deferred Cash Consideration Note | — | — | — | — | — | $0 | $0 | $106.6m | $0 | |
| Finance lease assets acquired through debt | — | — | — | — | $0 | $0 | $39.5m | $0 | $0 | |
| Finance lease liabilities converted to debt | — | — | — | — | $0 | $0 | $42.8m | $0 | $0 | |
| Net loss | — | ($7.0m) | $3.8m | ($6.0m) | ($3.1m) | ($6.7m) | ($5.5m) | ($9.1m) | ($2.3m) | |
| Accretion expense (recovery) (Note 14) | — | — | $2k | $2k | ($404) | $2k | $2k | ($2k) | ($1k) | |
| Foreign exchange (gain) loss | — | — | — | — | $157 | ($14k) | ($25k) | $659k | ($297k) | |
| Remeasurement of convertible debentures (Note 11) | — | — | — | — | — | $0 | $0 | $297k | $5.4m | |
| Change in non-cash working capital balances (Note 22) | $829k | ($858k) | ($1.5m) | $626k | $14k | $1.8m | ($1.3m) | $1.9m | ($4.3m) | |
| Prepaid Long-term insurance | — | — | — | — | $0 | $0 | ($12k) | $0 | $0 | |
| Items not affecting cash | — | — | — | — | $2.1m | $3.8m | $619k | $5.1m | $3.5m | |
| Stock Repurchases (Issuances) | — | $0 | $0 | $8k | $69k | $50k | $36k | $42k | $43k | |
| Proceeds from stock options and restricted Stock Units | — | — | — | — | $0 | $0 | $4k | $0 | $66k | |
| Repayment of lease obligations (Note 13) | ($37k) | ($40k) | ($160k) | ($181k) | ($151k) | ($28k) | $0 | ($360k) | ($566k) | |
| Proceeds from short-term investments (Note 3) | — | — | $76k | $3.4m | ($209k) | $550k | $0 | $0 | ($350k) | |
| Net proceeds from Rights Offering (Note 15) | $2.0m | $0 | $0 | — | $0 | $216k | $0 | $0 | — | |
| Other Operating Expense | — | — | — | — | $404 | $2k | $2k | — | — | |
| Acquisition of intellectual property (Note 8) | — | — | $0 | $0 | ($65k) | $0 | $0 | — | — | |
| Non-cash Lease Costs | — | — | ($12k) | ($12k) | ($12k) | ($8k) | — | — | — | |
| Unrealized Foreign Exchange (gain) Loss | $0 | ($45k) | $64k | $35k | $157 | $14k | — | — | — | |
| Aro Liabilities Settled (note 13) | $0 | $0 | ($7k) | ($809) | $0 | $0 | — | — | — | |
| Proceeds from Stock Issuance | $36k | $5k | $0 | $0 | $43k | $0 | — | — | — | |
| Shares Purchased And Retired (note 16) | — | — | ($1.3m) | $0 | $0 | — | — | — | — | |
| Non-Operating Income (Expense) | $1k | ($30k) | $2k | $2k | — | — | — | — | — | |
| Non-cash lease and interest (Note 25) | $0 | ($155k) | ($171k) | ($171k) | — | — | — | — | — | |
| Deferred rent | ($3k) | ($3k) | $0 | $0 | — | — | — | — | — | |
| Total | $829k | ($858k) | ($1.5m) | $626k | — | — | — | — | — | |
| Net funds used in targeted issuer bid (Note 15) | $0 | $0 | ($1.3m) | $0 | — | — | — | — | — | |
| Comprehensive income (loss) for the year | ($9.0m) | ($7.0m) | $3.8m | — | — | — | — | — | — | |
| Settlement of payable with shares | $95k | $0 | $0 | — | — | — | — | — | — | |
| Valuation allowance of Bolivian Tax Credits | $208k | $0 | $0 | — | — | — | — | — | — | |
| Gain on settlement of liabilities and deferred rent | ($3k) | ($189k) | $0 | — | — | — | — | — | — | |
| Cost of equity-based transaction with non-employee | ($6k) | $0 | $0 | — | — | — | — | — | — | |
| Total Non-cash Items | $3.5m | $900k | $405k | $2.6m | $2.1m | $3.8m | — | — | — | |
| Net cash provided by operating activities | ($5.5m) | ($6.1m) | $4.2m | ($3.4m) | $21.4m | $206.0m | $299.0m | $256.5m | $117.3m | |
| Net Cash from Operating Activities | ($5.5m) | ($6.1m) | ($2k) | $21k | ($798k) | ($720k) | ($740k) | ($365k) | ($241k) | |
| Purchases of property, plant and equipment | $3.1m | ($10k) | ($217k) | $0 | ($19.4m) | ($89.6m) | ($365.5m) | ($374.0m) | ($148.3m) | |
| Net cash used in investing activities | $3.1m | ($3.0m) | ($141k) | $3.4m | ($19.4m) | ($89.6m) | ($365.5m) | ($512.7m) | ($344.8m) | |
| Issuance costs associated with debt financing | — | — | — | — | ($660k) | ($233k) | ($4.4m) | ($1.2m) | ($281k) | |
| Proceeds from Debt Issuance | — | — | $0 | $0 | $0 | $0 | $3.5m | $4.7m | $0 | |
| Repayment of long-term debt (Note 12) | — | — | — | — | $1.0m | ($65k) | ($111k) | ($111k) | ($111k) | |
| Repurchases of Common Stock under share repurchase program | — | — | — | — | — | — | $0 | $0 | ($200k) | |
| Redeemable noncontrolling interest cumulative adjustment to redemption value | — | — | — | — | $0 | $0 | $185.4m | $0 | $0 | |
| Dividends and distributions | — | — | — | — | $0 | $0 | ($62.2m) | ($96.9m) | ($92.3m) | |
| Net cash provided by financing activities | $2.0m | $9.2m | ($1.5m) | ($174k) | $2.3m | ($74.8m) | $194.6m | $117.8m | $196.4m | |
| Net Cash from Financing Activities | $0 | $9.2m | $0 | $0 | $0 | $0 | $1.6m | $0 | $2.8m | |
| Effect of Exchange Rate on Cash | — | $25k | ($38k) | ($24k) | ($497) | $369 | ($7k) | $19k | ($86k) | |
| Net increase (decrease) in cash and cash equivalents | ($324k) | $173k | $2.5m | ($168k) | $4.3m | $41.6m | $128.2m | ($138.5m) | ($31.1m) | |
| Cash and cash equivalents, beginning of period | — | — | — | — | $40.4m | $82.0m | $210.2m | $71.7m | $40.6m | |
| Cash and cash equivalents, beginning of the year | — | — | $340k | $2.9m | $2.7m | $2.3m | $263k | $402k | $730k | |
| Cash And Cash Equivalents, End Of The Year | $490k | $167k | $2.9m | $2.7m | $2.3m | — | — | — | — | |
| Cash Interest Paid (received) | — | — | ($17k) | ($21k) | $14k | $36k | — | — | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.