Mammoth Energy Services (TUSK)
Market Price (10/7/2026): $2.85 | Market Cap: $137.3 MilSector: Industrials | Industry: Industrial Conglomerates
Mammoth Energy Services (TUSK)
Market Price (10/7/2026): $2.85Market Cap: $137.3 MilSector: IndustrialsIndustry: Industrial Conglomerates
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 58% Megatrend and thematic driversMegatrends include US Energy Independence, Datacenter Power, and Smart Grids & Grid Modernization. Themes include US Oilfield Technologies, Show more. | Weak multi-year price returns2Y Excs Rtn is -67%, 3Y Excs Rtn is -120% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -36% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 197x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -195% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% Key risksTUSK key risks include [1] persistent net losses threatening its long-term viability, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 58% |
| Megatrend and thematic driversMegatrends include US Energy Independence, Datacenter Power, and Smart Grids & Grid Modernization. Themes include US Oilfield Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -67%, 3Y Excs Rtn is -120% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -22 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -36% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 197x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -195% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% |
| Key risksTUSK key risks include [1] persistent net losses threatening its long-term viability, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/1/2026
Mammoth Energy Services (TUSK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 earnings results presented a nuanced picture, leading to a subsequent decline after an initial surge. While Mammoth Energy Services reported a significant 110% year-over-year revenue increase to $26.1 million and a 37% sequential improvement in Adjusted EBITDA to $2.6 million in fiscal Q2 2026, the company also posted a net loss from continuing operations of $1.2 million ($0.02 per diluted share) for the quarter, a decrease from a net income of $4.7 million ($0.10 per diluted share) in fiscal Q1 2026. Despite an initial pre-market jump of 7.6% to $3.163 on August 7, 2026, following the release of these results and a raised full-year 2026 outlook, a sell signal was issued from this pivot top, leading to a subsequent decline of approximately 14.16% by late September 2026.
2. Weakening outlook and declining operating margins for the oilfield services sector during fiscal Q3 2026 contributed to investor caution. The Dallas Fed Energy Survey for fiscal Q3 2026 (data collected September 2026) indicated a slowdown in the pace of expansion for the overall oil and gas sector, with the business activity index declining from 46.1 in fiscal Q2 to 38.8. Specifically for oilfield services firms like Mammoth, the outlook index remained largely neutral at 4.6, a stark contrast to the more positive outlook from exploration and production (E&P) firms (50.0). Furthermore, the operating margin index for oilfield services firms decreased from 52.2 in fiscal Q2 to 37.2 in fiscal Q3, suggesting a slower pace of margin expansion, while prices received for services also slid from 24.5 to 16.3.
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Mammoth Energy Services (TUSK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 earnings results presented a nuanced picture, leading to a subsequent decline after an initial surge. While Mammoth Energy Services reported a significant 110% year-over-year revenue increase to $26.1 million and a 37% sequential improvement in Adjusted EBITDA to $2.6 million in fiscal Q2 2026, the company also posted a net loss from continuing operations of $1.2 million ($0.02 per diluted share) for the quarter, a decrease from a net income of $4.7 million ($0.10 per diluted share) in fiscal Q1 2026. Despite an initial pre-market jump of 7.6% to $3.163 on August 7, 2026, following the release of these results and a raised full-year 2026 outlook, a sell signal was issued from this pivot top, leading to a subsequent decline of approximately 14.16% by late September 2026.
2. Weakening outlook and declining operating margins for the oilfield services sector during fiscal Q3 2026 contributed to investor caution. The Dallas Fed Energy Survey for fiscal Q3 2026 (data collected September 2026) indicated a slowdown in the pace of expansion for the overall oil and gas sector, with the business activity index declining from 46.1 in fiscal Q2 to 38.8. Specifically for oilfield services firms like Mammoth, the outlook index remained largely neutral at 4.6, a stark contrast to the more positive outlook from exploration and production (E&P) firms (50.0). Furthermore, the operating margin index for oilfield services firms decreased from 52.2 in fiscal Q2 to 37.2 in fiscal Q3, suggesting a slower pace of margin expansion, while prices received for services also slid from 24.5 to 16.3.
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Updated on 10/1/2026
Mammoth Energy Services (TUSK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 earnings results presented a nuanced picture, leading to a subsequent decline after an initial surge. While Mammoth Energy Services reported a significant 110% year-over-year revenue increase to $26.1 million and a 37% sequential improvement in Adjusted EBITDA to $2.6 million in fiscal Q2 2026, the company also posted a net loss from continuing operations of $1.2 million ($0.02 per diluted share) for the quarter, a decrease from a net income of $4.7 million ($0.10 per diluted share) in fiscal Q1 2026. Despite an initial pre-market jump of 7.6% to $3.163 on August 7, 2026, following the release of these results and a raised full-year 2026 outlook, a sell signal was issued from this pivot top, leading to a subsequent decline of approximately 14.16% by late September 2026.
2. Weakening outlook and declining operating margins for the oilfield services sector during fiscal Q3 2026 contributed to investor caution. The Dallas Fed Energy Survey for fiscal Q3 2026 (data collected September 2026) indicated a slowdown in the pace of expansion for the overall oil and gas sector, with the business activity index declining from 46.1 in fiscal Q2 to 38.8. Specifically for oilfield services firms like Mammoth, the outlook index remained largely neutral at 4.6, a stark contrast to the more positive outlook from exploration and production (E&P) firms (50.0). Furthermore, the operating margin index for oilfield services firms decreased from 52.2 in fiscal Q2 to 37.2 in fiscal Q3, suggesting a slower pace of margin expansion, while prices received for services also slid from 24.5 to 16.3.
3. Persistent elevated cost pressures and reported cash flow concerns raised liquidity questions. The Dallas Fed Energy Survey highlighted that input cost pressures remained elevated for oilfield services firms, with the index standing at 60.4 in fiscal Q3 2026. Compounding these cost concerns, a "new minor risk" was identified for Mammoth on August 9, 2026, citing that the company had less than a year of cash runway based on its current free cash flow of -$118 million. This could have generated investor apprehension regarding the company's financial position despite being debt-free with $77 million in cash and marketable securities as of June 30, 2026.
4. Geopolitical uncertainty and high crude price volatility created a challenging market environment. Oil and gas executives surveyed by the Dallas Fed in September 2026 expressed significant uncertainty due to the ongoing "Iran war," making it difficult to predict future commodity markets. Although US crude futures averaged around $86 a barrel in fiscal Q3 2026, the period was marked by high volatility, with prices swinging from a low of $67 in early July to a high of $107 in mid-September. Executives expected West Texas Intermediate (WTI) crude at $88 a barrel by year-end 2026, which was below the $98.70 average spot price during the survey period, indicating potential headwinds for the energy sector.
Show less
Mammoth Energy Services (TUSK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 earnings results presented a nuanced picture, leading to a subsequent decline after an initial surge. While Mammoth Energy Services reported a significant 110% year-over-year revenue increase to $26.1 million and a 37% sequential improvement in Adjusted EBITDA to $2.6 million in fiscal Q2 2026, the company also posted a net loss from continuing operations of $1.2 million ($0.02 per diluted share) for the quarter, a decrease from a net income of $4.7 million ($0.10 per diluted share) in fiscal Q1 2026. Despite an initial pre-market jump of 7.6% to $3.163 on August 7, 2026, following the release of these results and a raised full-year 2026 outlook, a sell signal was issued from this pivot top, leading to a subsequent decline of approximately 14.16% by late September 2026.
2. Weakening outlook and declining operating margins for the oilfield services sector during fiscal Q3 2026 contributed to investor caution. The Dallas Fed Energy Survey for fiscal Q3 2026 (data collected September 2026) indicated a slowdown in the pace of expansion for the overall oil and gas sector, with the business activity index declining from 46.1 in fiscal Q2 to 38.8. Specifically for oilfield services firms like Mammoth, the outlook index remained largely neutral at 4.6, a stark contrast to the more positive outlook from exploration and production (E&P) firms (50.0). Furthermore, the operating margin index for oilfield services firms decreased from 52.2 in fiscal Q2 to 37.2 in fiscal Q3, suggesting a slower pace of margin expansion, while prices received for services also slid from 24.5 to 16.3.
3. Persistent elevated cost pressures and reported cash flow concerns raised liquidity questions. The Dallas Fed Energy Survey highlighted that input cost pressures remained elevated for oilfield services firms, with the index standing at 60.4 in fiscal Q3 2026. Compounding these cost concerns, a "new minor risk" was identified for Mammoth on August 9, 2026, citing that the company had less than a year of cash runway based on its current free cash flow of -$118 million. This could have generated investor apprehension regarding the company's financial position despite being debt-free with $77 million in cash and marketable securities as of June 30, 2026.
4. Geopolitical uncertainty and high crude price volatility created a challenging market environment. Oil and gas executives surveyed by the Dallas Fed in September 2026 expressed significant uncertainty due to the ongoing "Iran war," making it difficult to predict future commodity markets. Although US crude futures averaged around $86 a barrel in fiscal Q3 2026, the period was marked by high volatility, with prices swinging from a low of $67 in early July to a high of $107 in mid-September. Executives expected West Texas Intermediate (WTI) crude at $88 a barrel by year-end 2026, which was below the $98.70 average spot price during the survey period, indicating potential headwinds for the energy sector.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -10.5% change in TUSK stock from 6/30/2026 to 10/6/2026 was primarily driven by a -94.7% change in the company's Net Income Margin (%).| (LTM values as of) | 6302026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.25 | 2.91 | -10.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 47 | 60 | 29.4% |
| Net Income Margin (%) | 22.1% | 1.2% | -94.7% |
| P/E Multiple | 15.2 | 196.6 | 1191.7% |
| Shares Outstanding (Mil) | 48 | 48 | 0.3% |
| Cumulative Contribution | -10.5% |
Market Drivers
6/30/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TUSK | -10.5% | |
| Market (SPY) | 4.3% | 25.0% |
| Sector (XLI) | -7.4% | 16.3% |
Fundamental Drivers
The 18.8% change in TUSK stock from 3/31/2026 to 10/6/2026 was primarily driven by a 662.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.45 | 2.91 | 18.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 36 | 60 | 66.4% |
| Net Income Margin (%) | 12.7% | 1.2% | -90.7% |
| P/E Multiple | 25.8 | 196.6 | 662.7% |
| Shares Outstanding (Mil) | 48 | 48 | 0.4% |
| Cumulative Contribution | 18.8% |
Market Drivers
3/31/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TUSK | 18.8% | |
| Market (SPY) | 20.1% | 16.5% |
| Sector (XLI) | 6.4% | -0.7% |
Fundamental Drivers
The 27.1% change in TUSK stock from 9/30/2025 to 10/6/2026 was primarily driven by a 58.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.29 | 2.91 | 27.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 38 | 60 | 58.0% |
| P/S Multiple | 2.9 | 2.3 | -19.7% |
| Shares Outstanding (Mil) | 48 | 48 | 0.1% |
| Cumulative Contribution | 27.1% |
Market Drivers
9/30/2025 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TUSK | 27.1% | |
| Market (SPY) | 17.9% | 14.3% |
| Sector (XLI) | 12.2% | 10.2% |
Fundamental Drivers
The -37.3% change in TUSK stock from 9/30/2023 to 10/6/2026 was primarily driven by a -85.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.64 | 2.91 | -37.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 402 | 60 | -85.0% |
| Net Income Margin (%) | 4.1% | 1.2% | -71.0% |
| P/E Multiple | 13.5 | 196.6 | 1353.9% |
| Shares Outstanding (Mil) | 48 | 48 | -0.9% |
| Cumulative Contribution | -37.3% |
Market Drivers
9/30/2023 to 10/6/2026| Return | Correlation | |
|---|---|---|
| TUSK | -37.3% | |
| Market (SPY) | 88.5% | 21.5% |
| Sector (XLI) | 76.0% | 21.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TUSK Return | -59% | 375% | -48% | -33% | -38% | 54% | -36% |
| Peers Return | 53% | 2% | 1% | 10% | 0% | 16% | 101% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 107% |
Monthly Win Rates [3] | |||||||
| TUSK Win Rate | 25% | 67% | 42% | 42% | 33% | 50% | |
| Peers Win Rate | 50% | 47% | 42% | 53% | 52% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TUSK Max Drawdown | -74% | -40% | -60% | -43% | -49% | -34% | |
| Peers Max Drawdown | -14% | -35% | -30% | -22% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HON, DD, HHS, MMM, CSL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/6/2026 (YTD)
How Low Can It Go
| Event | TUSK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.5% | -18.8% |
| % Gain to Breakeven | 46.0% | 23.1% |
| Time to Breakeven | 59 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.0% | -9.5% |
| % Gain to Breakeven | 19.0% | 10.5% |
| Time to Breakeven | 37 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.7% | -33.7% |
| % Gain to Breakeven | 148.3% | 50.9% |
| Time to Breakeven | 44 days | 140 days |
In The Past
Mammoth Energy Services's stock fell -31.5% during the 2025 US Tariff Shock. Such a loss loss requires a 46.0% gain to breakeven.
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| Event | TUSK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.5% | -18.8% |
| % Gain to Breakeven | 46.0% | 23.1% |
| Time to Breakeven | 59 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -59.7% | -33.7% |
| % Gain to Breakeven | 148.3% | 50.9% |
| Time to Breakeven | 44 days | 140 days |
In The Past
Mammoth Energy Services's stock fell -31.5% during the 2025 US Tariff Shock. Such a loss loss requires a 46.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Mammoth Energy Services (TUSK)
Mammoth Energy Services (TUSK) is an energy service company with a diversified business model primarily serving two major sectors: critical infrastructure and the oil and natural gas industry. The company operates through several segments, providing essential services that support the energy ecosystem across North America.
Within the infrastructure sector, Mammoth Energy provides comprehensive services for electric transmission and distribution networks, including engineering, design, construction, maintenance, and storm restoration for high-voltage lines, substations, and local distribution systems. For the oil and natural gas industry, Mammoth offers a broad suite of services encompassing well completion (hydraulic fracturing, sand hauling, water transfer), natural sand proppant (mining, processing, selling frac sand, and logistics), and drilling services (contract land and directional drilling). Additionally, the company provides various support services such as aviation, equipment rental, transportation, and remote accommodations.
Mammoth Energy Services primarily serves a wide range of customers, including government-funded, investor-owned, and co-operative utilities within its infrastructure segment. In the oil and natural gas sector, its clientele consists of independent oil and natural gas producers and land-based drilling contractors. The company's operations and service footprint extend across both the United States and Canada.
AI Analysis | Feedback
Mammoth Energy Services is like a company that combines the electric utility infrastructure work of Quanta Services with the broad range of oilfield services provided by Halliburton.
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- Infrastructure Services: Provides engineering, design, construction, upgrade, maintenance, and repair services for electric transmission, distribution, and substation facilities, including storm restoration and commercial wiring.
- Well Completion Services: Offers high-pressure hydraulic fracturing, sand hauling, and water transfer services to enhance oil and natural gas production.
- Natural Sand Proppant Sales: Mines, processes, and sells natural sand proppant used for hydraulic fracturing.
- Frac Sand Logistics: Provides logistics solutions to facilitate the delivery of frac sand products.
- Drilling Services: Offers contract land and directional drilling services, as well as rig moving services.
- Aviation Services: Provides aviation support.
- Coil Tubing Services: Delivers specialized coil tubing operations for wells.
- Pressure Control Services: Offers solutions for maintaining and managing pressure in oil and gas operations.
- Flowback Services: Provides services related to managing initial well production after fracturing.
- Cementing & Acidizing Services: Performs cementing and acidizing treatments to improve well integrity and production.
- Equipment Rental: Rents out various types of specialized equipment.
- Crude Oil Hauling: Provides transportation services specifically for crude oil.
- Full-Service Transportation: Offers general transportation and logistics solutions.
- Remote Accommodation Services: Provides housing and support solutions for remote workforces.
- Equipment Manufacturing: Manufactures specialized equipment used in energy services.
- Infrastructure Engineering & Design: Provides engineering and design expertise for infrastructure projects.
AI Analysis | Feedback
Mammoth Energy Services (TUSK) primarily sells its services and products to other companies and organizations. Based on the provided description, its major customers fall into the following categories:
- Electric Utilities and Infrastructure Clients: This category includes government-funded utilities, private and public investor-owned utilities, and co-operative utilities. They are served for electric transmission and distribution network services, substation work, storm repair and restoration, and commercial wiring services.
- Independent Oil and Natural Gas Producers: These companies are customers for Mammoth's well completion services (including hydraulic fracturing, sand hauling, and water transfer), natural sand proppant products, and various other oilfield services like aviation, coil tubing, and equipment rental.
- Land-Based Drilling Contractors: These companies utilize Mammoth's contract land and directional drilling services, as well as rig moving services.
The provided background information does not list specific named customer companies.
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Phil Lancaster, Chief Executive Officer
Phil Lancaster became the Chief Executive Officer of Mammoth Energy Services on January 1, 2025, bringing over 20 years of experience in the energy industry. Prior to his appointment, he was Mammoth's Vice President of Corporate Development and also served as interim President for several of the company's infrastructure subsidiaries. Mr. Lancaster's executive experience includes serving as President of Mammoth Energy Partners LP from 2014 to 2015, Chief Executive Officer of Redback Energy Services LLC from 2011 to 2015, and Chief Executive Officer of Great White Energy Services, Inc. from 2006 to 2010, all within the oil field services sector. Notably, from 2010 to 2011, he acted as a consultant to Wexford Capital LP, a private equity firm that was instrumental in the formation of Mammoth Energy Services through the consolidation of various energy and infrastructure service companies.
Mark Layton, Chief Financial Officer, Chief Compliance Officer and Secretary
Mark Layton assumed the role of Chief Financial Officer, Chief Compliance Officer, and Secretary at Mammoth Energy Services in August 2014. Before joining Mammoth, Mr. Layton was the Chief Financial Officer of Stingray Pressure Pumping LLC from January 2014 to August 2014. His extensive finance background includes positions as Director of Finance for North America and Controller at Archer Well Company Inc., Corporate Controller and Director of Financial Reporting at Great White Energy Services, and Vice President of Finance at Crossroads Wireless Holding. He also served as the Director of Financial Reporting for Chickasaw Holding Company and began his career in public accounting. Mr. Layton is a Certified Public Accountant.
Bernard Lancaster, Chief Operating Officer and Principal Executive Officer
Bernard Lancaster serves as the Chief Operating Officer and Principal Executive Officer for Mammoth Energy Services. He has been with various subsidiaries of Mammoth for over 11 years, previously holding the position of Vice President of Operations for Mammoth.
Paul Jacobi, Chief Business Officer
Paul Jacobi holds the title of Chief Business Officer at Mammoth Energy Services. He has also been a director of the company since June 2020.
AI Analysis | Feedback
Mammoth Energy Services (TUSK) faces several key risks to its business, primarily stemming from its exposure to the energy sector and ongoing operational challenges.
The most significant key risks include:
1. Volatility in Oil and Natural Gas Prices and General Economic Conditions
Mammoth Energy Services' well completion, natural sand proppant, and drilling services segments are highly sensitive to fluctuations in oil and natural gas prices and overall economic conditions. Economic downturns and shifts in commodity prices directly impact the activity levels of exploration and production companies, subsequently affecting the demand for Mammoth's services in these areas. Geopolitical events and decisions by organizations like OPEC+ also introduce market uncertainties by influencing commodity prices and service demand. The company has experienced end-market softness in oil and gas and sand, alongside a declining rig count, which impacts its oilfield service lines.2. Persistent Unprofitability and Operational Efficiency/Cost Control Challenges
Mammoth Energy Services has a history of unprofitability, with reported widening losses over several years and persistent negative net profit margins. This indicates fundamental challenges in consistently generating quality earnings and achieving profitability across its diverse operations. The company has also acknowledged execution and cost control issues, particularly within its fiber and non-aviation rental segments, leading to margin pressure from factors such as higher equipment rental costs, insurance premiums, and underutilization in sand and drilling services. Addressing these operational inefficiencies and cost management challenges is crucial for the company's financial stability and future growth.3. Execution Risk Related to Strategic Pivots and Managing a Diverse Portfolio of Services
While Mammoth Energy Services operates a diversified business model across infrastructure, well completion, natural sand proppant, and drilling services, it is also undergoing strategic portfolio simplification and pivots, including an increased focus on aviation rentals. This strategic shift and the management of its varied service offerings present execution risks. There are concerns that heavy capital expenditures in new areas, such as aviation, may not yield immediate returns, creating significant execution risk. Successfully ramping up new segments and restoring profitability in underperforming ones will be critical for the company's ability to drive improved returns and achieve its projected growth.AI Analysis | Feedback
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Mammoth Energy Services (TUSK) operates in several energy service segments, each addressing distinct markets primarily within North America. The addressable market sizes for their main products and services are as follows:
- Infrastructure Services: The U.S. electric power transmission and distribution market was valued at approximately USD 89.9 billion in 2024, and is projected to reach USD 110.4 billion by 2032.
- Well Completion Services (High-Pressure Hydraulic Fracturing Services): The North America hydraulic fracturing market was estimated at approximately USD 39.54 billion in 2025. The market was valued at USD 22.63 billion in 2022 and is anticipated to grow robustly through 2028.
- Natural Sand Proppant Services: The North America frac sand market was valued at approximately USD 1.699 billion in 2024, and is anticipated to reach USD 1.811 billion in 2025. This market is projected to reach USD 3.012 billion by 2033.
- Drilling Services: The North America drilling services market is estimated to be approximately USD 56.68 billion in 2025. This region accounted for 36.45% of the global drilling services market in 2025.
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Expected Revenue Growth Drivers for Mammoth Energy Services (TUSK)
Over the next two to three years, Mammoth Energy Services (TUSK) is expected to experience revenue growth driven by several key factors:
- Expansion of Aviation Rentals Platform: Mammoth Energy Services has made strategic investments to significantly expand its aviation rental fleet. This expansion is anticipated to generate stable, recurring revenue and is projected to contribute to over 50% revenue growth in 2026. The company has deployed substantial capital to grow this platform, with plans to lease out additional aviation assets in the first half of 2026.
- Increased Demand for Electric Grid Infrastructure Services: The Infrastructure Services segment is positioned to capitalize on the sustained demand for electric grid infrastructure. Macroeconomic tailwinds, including the growth of data centers, advancements in artificial intelligence (AI), and new nuclear developments, are expected to support demand for services such as engineering, fiber projects, and transmission and distribution network enhancements. Mammoth is making strategic investments to add equipment and crews to further improve its positioning in this market.
- Anticipated Rebound in Natural Gas Sector and Well Completion Services: Following a period of reduced activity due to lower natural gas prices, there is an optimistic outlook for a rebound in the natural gas sector in 2025 and 2026. This expected increase in natural gas-related demand is poised to drive higher utilization and activity levels within Mammoth's Well Completion Services division. The company aims for steady completions activity in 2025, targeting 1.5 active fleets, and anticipates increased demand for well completion services in 2026.
- Strategic Capital Deployment for Accretive Investments: Mammoth Energy Services has significantly strengthened its financial position, becoming debt-free and holding a strong liquidity buffer after strategic asset divestitures in 2025. Management intends to deploy this robust cash position for accretive investments. This financial flexibility allows the company to pursue further growth opportunities, potentially through equipment acquisitions and operational improvements across its segments, supporting both existing and emerging revenue streams.
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Capital Allocation Decisions for Mammoth Energy Services (TUSK)
Share Repurchases
- Mammoth Energy Services authorized a share repurchase program in August 2023 for up to $55 million or 10,000,000 shares, with no specified time limit for completion.
- An amendment to its revolving credit facility in April 2025 permitted the company to repurchase up to the lesser of $50 million or 10 million shares on or before March 31, 2026. [cite: 11 in previous turn]
Share Issuance
- The number of common shares outstanding increased from 48,127,369 at December 31, 2024, to 48,358,315 at December 31, 2025, indicating a net issuance of 230,946 shares during 2025. [cite: 6 in previous turn]
Outbound Investments
- In 2025, Mammoth Energy Services executed four divestitures that generated over $150 million in cash proceeds, aiming to reshape its portfolio. [cite: 1, 2 in previous turn, 6 in previous turn, 7 in previous turn]
- The company sold its engineering business, Aquawolf, to Qualus for $30 million in December 2025.
- Mammoth Energy Services completed the sale of three infrastructure subsidiaries (5 Star Electric, Higher Power Electrical, and Python Equipment) for an aggregate price of $108.7 million in April 2025. [cite: 3, 11 in previous turn]
Capital Expenditures
- In 2025, the company deployed over $65 million into its aviation rental platform, which constituted the majority of the approximately $70 million in total capital expenditures for the year. [cite: 1, 2 in previous turn, 5 in previous turn, 7 in previous turn, 10 in previous turn]
- Fourth-quarter 2025 capital expenditures were $25.9 million, predominantly allocated to aviation assets, including the acquisition of eight APUs, two engines, and one small aircraft. [cite: 1, 2 in previous turn, 8 in previous turn]
- Mammoth Energy Services anticipates approximately $11 million in non-aviation capital expenditures for 2026, targeting maintenance and growth investments in its oil and gas and infrastructure segments. [cite: 1, 2 in previous turn, 4 in previous turn]
Peer Outperformance in Industrial Conglomerates
TUSK has trailed 56% of its 16 Industrial Conglomerates peers over 5Y. Among the peers that beat it is DD. Industrial Conglomerates ranks 12th of 23 industries in Industrials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Industrial Conglomerates constituents that TUSK has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
72%
of 18 industry peers · 26.5% return
3Y
22%
of 18 industry peers · -35.5% return
5Y
44%
of 16 industry peers · -8.5% return
Industrial Conglomerates peers with revenue growth within 4pp of TUSK's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| TUSK | Mammoth Energy Services | -25.5% | 196.6x | 26.5% | -35.5% | -8.5% | — |
| DD | DuPont de Nemours | -25.3% | 329.3x | 39.9% | 56.4% | 73.5% | +82pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Industrial Conglomerates is TUSK's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 10.7% | 133.3% | 197.3% | STRL 2288% · FIX 2276% · CDNL 2109% |
| Marine Transportation | 5 | 89.4% | 70.5% | 178.3% | HOS 40532% · MATX 190% · KEX 178% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 1.9% | 50.2% | 101.2% | CAT 381% · ALSN 254% · WAB 232% |
| Aerospace & Defense | 54 | -14.6% | 63.3% | 73.5% | ATI 1047% · FTAI 933% · HWM 631% |
| Industrial Machinery & Supplies & Components | 72 | 11.2% | 51.8% | 51.6% | PSIX 1145% · CRS 1143% · EROC 684% |
| Trading Companies & Distributors | 19 | 7.3% | 38.3% | 49.1% | DXPE 509% · AIT 277% · WCC 231% |
| Rail Transportation | 7 | 19.0% | 60.3% | 46.1% | FSTR 124% · CSX 58% · RAIL 55% |
| Electrical Components & Equipment | 39 | 0.9% | 60.5% | 30.9% | POWL 2471% · BE 1444% · VRT 1000% |
| Cargo Ground Transportation | 16 | 31.6% | 2.8% | 29.9% | XPO 275% · R 218% · CVLG 148% |
| Diversified Support Services | 32 | 8.7% | 29.8% | 28.9% | LIME 3079% · TH 354% · CXW 254% |
| Building Products | 33 | -13.0% | 4.2% | 15.6% | LMB 713% · GFF 346% · PPIH 282% |
| Industrial Conglomerates ← | 17 | 9.1% | 2.4% | -1.2% | RCMT 585% · CSW 124% · DD 73% |
| Agricultural & Farm Machinery | 17 | 13.3% | 3.5% | -4.2% | BLBD 179% · DE 112% · GENC 65% |
| Passenger Ground Transportation | 3 | -27.5% | 42.1% | -6.2% | UBER 44% · CAR -6% · LYFT -71% |
| Environmental & Facilities Services | 30 | -26.3% | 14.6% | -10.7% | CECO 936% · ADUR 434% · NVRI 322% |
| Research & Consulting Services | 13 | -11.5% | -28.6% | -17.2% | HURN 212% · CRAI 70% · GRNQ 22% |
| Security & Alarm Services | 9 | -37.6% | 37.5% | -17.5% | CIX 167% · MG 119% · BCO 69% |
| Office Services & Supplies | 9 | 17.3% | 20.6% | -27.5% | PBI 174% · TILE 128% · HNI 48% |
| Data Processing & Outsourced Services | 6 | -34.8% | -15.1% | -27.7% | EXLS 42% · BR 3% · G -25% |
| Passenger Airlines | 11 | 12.6% | 23.1% | -33.8% | LTM 3384% · UAL 126% · DAL 98% |
| Air Freight & Logistics | 12 | -25.7% | -25.8% | -37.9% | FDX 79% · EXPD 76% · CHRW 70% |
| Human Resource & Employment Services | 22 | 2.6% | -21.1% | -42.5% | BBSI 66% · ADP 41% · KFY 2% |
| Airport Services | 3 | -78.6% | -78.5% | -71.8% | JOBY -37% · ASLE -72% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Mammoth Energy Services Earnings Notes | 12/16/2025 | |
| How Low Can Mammoth Energy Services Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 146.59 |
| Mkt Cap | 15.3 |
| Rev LTM | 4,899 |
| Op Inc LTM | 702 |
| FCF LTM | 679 |
| FCF 3Y Avg | 463 |
| CFO LTM | 1,026 |
| CFO 3Y Avg | 859 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.1% |
| Rev Chg 3Y Avg | -4.3% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | -2.1% |
| Op Inc Chg 3Y Avg | -21.0% |
| Op Mgn LTM | 12.4% |
| Op Mgn 3Y Avg | 11.5% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 16.8% |
| CFO/Rev 3Y Avg | 15.1% |
| FCF/Rev LTM | 10.8% |
| FCF/Rev 3Y Avg | 11.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sand | 17 | 19 | 39 | 51 | 35 |
| Rentals | 11 | 7 | |||
| Accommodations | 9 | 11 | |||
| Infrastructure | 4 | 1 | 111 | 111 | 93 |
| Drilling | 4 | 4 | 3 | ||
| Eliminations | -0 | -0 | -2 | -5 | -7 |
| Other | 4 | 35 | 38 | 20 | |
| Intersegment revenues | 0 | 0 | |||
| Well Completion | 127 | 166 | 84 | ||
| Total | 44 | 46 | 309 | 362 | 229 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Gains on disposal of assets, net | 2 | 3 | |||
| Accommodations | 1 | 2 | |||
| Rentals | 0 | 0 | |||
| Stock based compensation | -0 | -1 | |||
| Drilling | -1 | -2 | -4 | -7 | -9 |
| Infrastructure | -3 | -2 | -10 | -15 | -39 |
| Sand | -7 | -5 | 1 | -1 | -7 |
| Other | -8 | -104 | -5 | -5 | -14 |
| Depreciation, depletion, amortization and accretion | -10 | -12 | |||
| Impairment of long-lived assets | -32 | ||||
| Eliminations | 0 | 0 | |||
| Well Completion | 1 | 12 | -55 | ||
| Total | -57 | -120 | -17 | -16 | -123 |
| $ Mil | 2024 | 2023 | 2022 | 2016 |
|---|---|---|---|---|
| Eliminations | 0 | 0 | 0 | |
| Sand | -8 | 2 | -1 | -1 |
| Other | -11 | -11 | -18 | |
| Well Completion | -22 | -2 | 13 | -62 |
| Infrastructure | -166 | 8 | 5 | |
| Drilling | -30 | |||
| Other Energy Services | 9 | |||
| Pressure Pumping | -5 | |||
| Total | -207 | -3 | -1 | -88 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Other assets | 168 | 130 | |||
| Rentals | 75 | 8 | |||
| Sand | 68 | 119 | 121 | 130 | 157 |
| Accommodations | 14 | 13 | |||
| Infrastructure | 3 | 2 | 462 | 451 | 428 |
| Drilling | 2 | 2 | 25 | ||
| Eliminations | 105 | 50 | -71 | ||
| Other | -40 | 15 | 126 | ||
| Well Completion | 50 | 79 | 56 | ||
| Total | 330 | 274 | 698 | 725 | 721 |
Price Behavior
Price Behavior
| Market Price | $2.91 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 10/14/2016 | |
| Distance from 52W High | -24.2% | |
| 50 Days | 200 Days | |
| DMA Price | $3.03 | $2.70 |
| DMA Trend | up | up |
| Distance from DMA | -4.1% | 7.7% |
| 3M | 1YR | |
| Volatility | 53.4% | 71.5% |
| Downside Capture | 127.77 | 113.20 |
| Upside Capture | 73.77 | 119.98 |
| Correlation (SPY) | 24.8% | 14.3% |
TUSK Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.06 | 1.60 | 1.20 | 0.96 | 0.78 | 0.87 |
| Up Beta | -2.65 | 1.50 | 2.39 | -1.31 | -0.87 | 0.67 |
| Down Beta | 0.17 | 0.53 | 0.29 | 1.35 | 1.35 | 0.95 |
| Up Capture | 118% | 189% | 58% | 175% | 121% | 45% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 16 | 23 | 54 | 108 | 326 |
| Down Capture | 223% | 144% | 145% | 164% | 108% | 104% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 24 | 39 | 68 | 133 | 395 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TUSK | |
|---|---|---|---|---|
| TUSK | 26.6% | 71.3% | 0.62 | - |
| Sector ETF (XLI) | 12.1% | 17.3% | 0.49 | 10.2% |
| Equity (SPY) | 17.5% | 13.0% | 0.96 | 14.3% |
| Gold (GLD) | 6.9% | 29.6% | 0.23 | 8.4% |
| Commodities (DBC) | 46.1% | 20.8% | 1.71 | 8.6% |
| Real Estate (VNQ) | 2.1% | 13.7% | -0.10 | 9.0% |
| Bitcoin (BTCUSD) | -29.8% | 44.3% | -0.67 | 9.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TUSK | |
|---|---|---|---|---|
| TUSK | -0.1% | 71.7% | 0.30 | - |
| Sector ETF (XLI) | 13.1% | 17.6% | 0.57 | 24.7% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 23.2% |
| Gold (GLD) | 18.7% | 18.9% | 0.80 | 8.3% |
| Commodities (DBC) | 10.3% | 19.5% | 0.40 | 19.7% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.04 | 23.2% |
| Bitcoin (BTCUSD) | 16.0% | 52.2% | 0.47 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TUSK | |
|---|---|---|---|---|
| TUSK | -13.5% | 86.5% | 0.21 | - |
| Sector ETF (XLI) | 13.4% | 20.0% | 0.59 | 22.2% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 20.1% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 4.3% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 20.8% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 15.5% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 4.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/7/2026 | 15.3% | 9.2% | 6.1% |
| 5/11/2026 | 21.8% | 33.9% | 39.7% |
| 3/6/2026 | -16.9% | -15.1% | -8.2% |
| 10/31/2025 | -4.2% | -5.2% | -17.1% |
| 8/8/2025 | -4.5% | -6.5% | -4.1% |
| 5/7/2025 | -5.6% | -3.4% | -1.5% |
| 3/7/2025 | -8.4% | -1.4% | -6.0% |
| 11/1/2024 | -16.5% | -13.9% | -22.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 10 |
| # Negative | 16 | 16 | 14 |
| Median Positive | 10.7% | 13.5% | 18.4% |
| Median Negative | -5.5% | -5.9% | -10.0% |
| Max Positive | 21.8% | 50.6% | 101.3% |
| Max Negative | -16.9% | -21.1% | -31.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/7/2026 | 15.3% | 9.2% | 6.1% |
| 5/11/2026 | 21.8% | 33.9% | 39.7% |
| 3/6/2026 | -16.9% | -15.1% | -8.2% |
| 10/31/2025 | -4.2% | -5.2% | -17.1% |
| 8/8/2025 | -4.5% | -6.5% | -4.1% |
| 5/7/2025 | -5.6% | -3.4% | -1.5% |
| 3/7/2025 | -8.4% | -1.4% | -6.0% |
| 11/1/2024 | -16.5% | -13.9% | -22.0% |
| 8/9/2024 | 3.8% | 4.3% | -3.0% |
| 5/2/2024 | -4.0% | -4.3% | 14.2% |
| 3/1/2024 | 2.7% | -1.4% | 1.4% |
| 11/9/2023 | -1.0% | 9.4% | 14.3% |
| 8/11/2023 | -1.5% | -19.6% | -11.7% |
| 4/27/2023 | -5.4% | -2.3% | -2.8% |
| 2/23/2023 | -3.0% | -9.5% | -31.9% |
| 10/27/2022 | 6.4% | 14.6% | 8.2% |
| 7/28/2022 | 21.8% | 50.6% | 101.3% |
| 5/9/2022 | -12.5% | -2.9% | 24.2% |
| 3/4/2022 | 14.9% | 30.5% | 47.4% |
| 11/5/2021 | 1.0% | -5.4% | -29.4% |
| 7/30/2021 | -14.1% | -21.1% | -19.2% |
| 4/29/2021 | -3.5% | -8.6% | -4.0% |
| 2/25/2021 | -12.6% | -10.1% | -16.2% |
| 10/29/2020 | -5.6% | 12.5% | 22.5% |
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 10 |
| # Negative | 16 | 16 | 14 |
| Median Positive | 10.7% | 13.5% | 18.4% |
| Median Negative | -5.5% | -5.9% | -10.0% |
| Max Positive | 21.8% | 50.6% | 101.3% |
| Max Negative | -16.9% | -21.1% | -31.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 03/01/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 03/01/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/04/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/03/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/12/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | Reported | 90.0% | ||||||
| 2026 Adjusted EBITDA Margin | Reported | 10.0% | ||||||
Insider Activity
Updated 9/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Plaumann, Mark Lawrence | Direct | Buy | 9172026 | 3.00 | 5,000 | 15,000 | 15,000 | Form | |
| 2 | Wexford, Capital LP | Chief Business Officer | See footnotes | Buy | 6222026 | 2.60 | 4,019,574 | 10,468,177 | 27,659,721 | Form |
| 3 | Amron, Arthur H | Direct | Buy | 6152026 | 3.28 | 2,000 | 6,560 | 220,203 | Form | |
| 4 | Amron, Arthur H | Direct | Buy | 6152026 | 3.22 | 2,500 | 8,050 | 209,728 | Form | |
| 5 | Amron, Arthur H | Direct | Buy | 5282026 | 3.25 | 3,000 | 9,750 | 203,564 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Plaumann, Mark Lawrence | Direct | Buy | 9172026 | 3.00 | 5,000 | 15,000 | 15,000 | Form | |
| 2 | Wexford, Capital LP | Chief Business Officer | See footnotes | Buy | 6222026 | 2.60 | 4,019,574 | 10,468,177 | 27,659,721 | Form |
| 3 | Amron, Arthur H | Direct | Buy | 6152026 | 3.28 | 2,000 | 6,560 | 220,203 | Form | |
| 4 | Amron, Arthur H | Direct | Buy | 6152026 | 3.22 | 2,500 | 8,050 | 209,728 | Form | |
| 5 | Amron, Arthur H | Direct | Buy | 5282026 | 3.25 | 3,000 | 9,750 | 203,564 | Form | |
| 6 | Amron, Arthur H | Direct | Buy | 5282026 | 3.24 | 2,500 | 8,100 | 193,211 | Form | |
| 7 | Amron, Arthur H | Direct | Buy | 12152025 | 1.89 | 10,000 | 18,900 | 107,985 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Industrial Conglomerates Resources |
| Bloomberg Businessweek |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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