Smart Sand, Inc. balance sheet

At the end of fiscal 2025, Smart Sand, Inc. had total assets of $340m, total liabilities of $100m and shareholders' equity of $240m. It held $22.6m in cash against $15.0m of debt: net cash of $7.6m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Smart Sand, Inc.: balance sheet, annual
Fiscal year	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	1	4	47	35	1	3	12	26	6	6	2	23	10
Receivables	—	2	5	23	19	59	70	17	36	23	41	31	45
Inventory	—	5	10	10	19	21	19	15	20	27	25	31	32
Total current assets	—	16	65	73	50	92	112	74	68	62	76	88	93
Goodwill	—	—	—	0	0	—	—	—	—	—	—	—	—
Total assets	—	133	173	247	320	363	428	374	360	346	342	340	347
Accounts payable	—	1	2	26	11	4	3	8	14	16	17	9	16
Deferred revenue (current)	—	7	2	0	4	8	7	10	7	1	0	10	2
Total current liabilities	—	49	14	35	25	40	37	49	52	54	43	50	55
Short-term debt	—	—	—	1	1	6	7	7	6	16	4	4	6
Long-term debt	—	1	1	0	48	28	22	15	10	3	9	9	9
Total debt	0	64	1	1	49	34	29	22	18	20	15	15	16
Total liabilities	—	129	31	57	111	118	139	133	117	104	98	100	109
Shareholders' equity	−2	4	142	190	211	246	289	241	243	242	244	240	238
Net debt (negative = net cash)	−1	60	−46	−34	47	32	18	−3	12	14	13	−8	6
Shares outstanding	—	22m	—	40m	40m	40m	42m	42m	43m	38m	39m	39m	39m

US$ millions unless shown otherwise. Fiscal quarters.

Smart Sand, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	24	41	28	47	44	31	28	45
Inventory	28	25	28	29	32	31	30	32
Total current assets	65	76	67	83	84	88	83	93
Total assets	336	342	327	346	343	340	336	347
Accounts payable	11	17	12	16	10	9	12	16
Deferred revenue (current)	1	0	0	0	0	10	1	2
Total current liabilities	38	43	38	45	49	50	50	55
Short-term debt	4	4	4	4	4	4	5	6
Long-term debt	10	9	8	18	8	9	9	9
Total debt	14	13	12	22	13	13	14	15
Total liabilities	92	98	107	105	103	100	102	109
Shareholders' equity	244	244	220	241	240	240	234	238
Shares outstanding	39m	39m	39m	39m	39m	39m	39m	39m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Smart Sand, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Smart Sand, Inc.