Form 8-K

8-K — MAMMOTH ENERGY SERVICES, INC.

Accession: 0001628280-26-054588

Filed: 2026-08-07

Period: 2026-08-07

CIK: 0001679268

SIC: 1389 (OIL, GAS FIELD SERVICES, NBC)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — tusk-20260807.htm (Primary)

EX-99.1 (a2026-06x30exx991.htm)

GRAPHIC (image.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: tusk-20260807.htm · Sequence: 1

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0001679268FALSE00016792682026-08-072026-08-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 7, 2026

Mammoth Energy Services, Inc.

(Exact name of registrant as specified in its charter)

001-37917

(Commission File No.)

Delaware 32-0498321

(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

14201 Caliber Drive, Suite 300

Oklahoma City, Oklahoma (405) 608-6007 73134

(Address of principal executive offices) (Registrant’s telephone number, including area code) (Zip Code)

______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of The Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock TUSK The Nasdaq Stock Market LLC

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§232.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(s) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition

On August 7, 2026, Mammoth Energy Services, Inc. (the “Company”) issued a press release announcing its operational and financial results for the second quarter ended June 30, 2026. A copy of that press release is furnished as Exhibit 99.1 to this report.

The information in this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified as being incorporated by reference in the registration statement.

Item 7.01 Regulation FD Disclosure

On August 7, 2026, the Company posted an investor presentation to the “investors” section of its website (www.mammothenergy.com), where the Company routinely posts announcements, updates, events, investor information and presentations and recent news releases. Information on the Company's website does not constitute part of this Current Report on Form 8-K.

The information in this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified as being incorporated by reference in the registration statement.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1

Press release dated August 7, 2026, entitled “Mammoth Energy Services, Inc. Announces Second Quarter 2026 Operational and Financial Results.”

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

MAMMOTH ENERGY SERVICES, INC.

Date:

August 7, 2026

By: /s/ Mark Layton

Mark Layton

Chief Financial Officer and Secretary

EX-99.1

Filename: a2026-06x30exx991.htm · Sequence: 2

Document

Exhibit 99.1

Mammoth Energy Services, Inc. Announces

Second Quarter 2026 Operational and Financial Results

OKLAHOMA CITY, OK – August 7, 2026 – Mammoth Energy Services, Inc. (NASDAQ: TUSK) (“Mammoth” or the “Company”) today reported financial and operational results for the second quarter ended June 30, 2026.

Mark Layton, Chief Financial Officer of Mammoth commented, “We are increasing our full-year 2026 outlook for the second time this year based on continued improvement across our operating businesses and the growing contribution from our aviation platform. During the second quarter, revenue increased 110% year over year to $26.1 million and Adjusted EBITDA increased 37% sequentially to $2.6 million. Drilling generated positive Adjusted EBITDA ahead of expectations, Sand returned to positive gross margins, and we continued to deploy capital into high-return aviation assets while completing strategic acquisitions in infrastructure services. As we enter the second half of 2026, our focus remains on disciplined execution, margin expansion and creating long-term shareholder value.”

Second Quarter 2026 Highlights:

•Revenue increased 110% year-over-year to $26.1 million

•Adjusted EBITDA improved to $2.6 million

•Drilling generated positive Adjusted EBITDA

•Completed the acquisitions of Mission Construction and BERE Rentals, expanding the Company’s fiber infrastructure capabilities

•Increased full-year 2026 outlook for the second time this year

Updated 2026 Outlook:

•Revenue growth expected to exceed 90%

•Adjusted EBITDA margin expected to exceed 10%

Financial Overview for the Second Quarter 2026:

Total revenue from continuing operations was $26.1 million for the second quarter of 2026 compared to $12.4 million for the second quarter of 2025 and $22.0 million for the first quarter of 2026.

Net loss from continuing operations for the second quarter of 2026 was $1.2 million, or $0.02 per diluted share, compared to net loss from continuing operations of $36.5 million, or $0.76 per diluted share, for the second quarter of 2025 and net income from continuing operations of $4.7 million, or $0.10 per diluted share, in the first quarter of 2026.

Adjusted EBITDA from continuing operations ("Adjusted EBITDA" as defined and reconciled in the tables below) was $2.6 million for the second quarter of 2026, compared to ($3.5) million for the second quarter of 2025 and $1.9 million for the first quarter of 2026.

Rental Services and Aviation Sales

Mammoth’s rental services segment contributed revenue (inclusive of inter-segment revenue) of $10.2 million for the second quarter of 2026 compared to $3.1 million for the second quarter of 2025 and $13.0 million for the first quarter of 2026. The increase in revenue compared to the prior year was primarily driven by a $5.7 million increase in aviation revenue, which included the sale of an airframe and landing gear for $2.0 million. The average number

of pieces of equipment rented to customers was 407 for the second quarter of 2026 compared to 296 during the second quarter of 2025 and 389 during the first quarter of 2026.

Natural Sand Proppant Services

Mammoth’s natural sand proppant services segment contributed revenue of $8.0 million for the second quarter of 2026 compared to $5.4 million for the second quarter of 2025 and $3.9 million for the first quarter of 2026. In the second quarter of 2026, the Company sold approximately 229,000 tons of sand at an average sales price of $21.36 per ton compared to sales of approximately 242,000 tons of sand at an average sales price of $21.41 per ton during the second quarter of 2025. Average price per ton of sand sold decreased primarily due to a shift of grade mix. In addition, freight revenue increased by approximately $2.9 million compared to second quarter of 2025. In the first quarter of 2026, sales were approximately 156,000 tons of sand at an average price of $19.49 per ton.

Accommodation Services

Mammoth’s accommodation services segment contributed revenue of $3.2 million for the second quarter of 2026 compared to $1.8 million for the second quarter of 2025 and $3.5 million for the first quarter of 2026. On average, 259 rooms were utilized for the second quarter of 2026 compared to 145 during the second quarter of 2025 and 275 during the first quarter of 2026 within the accommodations services segment.

Infrastructure Services

Mammoth’s infrastructure services segment contributed revenue of $0.9 million for the second quarter of 2026 compared to $1.4 million for the second quarter of 2025 and $0.3 million for the first quarter of 2026.

Drilling Services

Mammoth’s drilling services segment contributed revenue of $3.8 million for the second quarter of 2026 compared to $0.7 million for the second quarter of 2025 and $1.4 million for the first quarter of 2026. Drilling performance improved sequentially due to increased utilization and activity levels.

Selling, General and Administrative Expense

Selling, general and administrative (“SG&A”) expense was $4.2 million for the second quarter of 2026 compared to $5.0 million for the second quarter of 2025 and $3.6 million for the first quarter of 2026.

Liquidity

As of June 30, 2026, Mammoth had unrestricted cash and cash equivalents on hand of $50.9 million and marketable securities of $26.1 million. As of June 30, 2026, the Company’s revolving credit facility was undrawn, and there was $20.0 million of available borrowing capacity under the revolving credit facility, after giving effect to $5.0 million of outstanding letters of credit. As of June 30, 2026, Mammoth had cash, cash equivalents and marketable securities of $77.0 million.

As of August 4, 2026, Mammoth had unrestricted cash on hand of $40.4 million, marketable securities of $27.5 million, no outstanding borrowings under its revolving credit facility. As of August 4, 2026, the Company had $20.0 million of available borrowing capacity, after giving effect to $5.0 million of outstanding letters of credit. As of August 4, 2026, Mammoth had cash, cash equivalents and marketable securities of $67.9 million.

Capital Expenditures

The following table summarizes Mammoth’s capital expenditures from continuing operations by segment for the periods indicated (in thousands):

Three Months Ended Six Months Ended

June 30, March 31, June 30,

2026 2025 2026 2026 2025

Rental services(a)

$ 41,213 $ 26,821 $ 9,335 $ 50,548 $ 26,940

Infrastructure services(b)

900 — 1,935 2,835 110

Natural sand proppant services(c)

1,001 — 235 1,236 93

Accommodation services(c)

158 58 201 359 75

Drilling services(c)

691 19 — 691 116

Total capital expenditures $ 43,963 $ 26,898 $ 11,706 $ 55,669 $ 27,334

(a)Capital expenditures primarily for expansion of our aviation rental fleet and equipment rental purchases for the periods presented.

(b)Capital expenditures primarily for our fiber optic fleets for the periods presented.

(c)Capital expenditures primarily for equipment for the periods presented.

Conference Call Information

Mammoth will host a conference call on Friday, August 7, 2026 at 10:00 a.m. Central time (11:00 a.m. Eastern time) to discuss its second quarter financial and operational results. The telephone number to access the conference call is 1-201-389-0872. The conference call will also be webcast live on https://ir.mammothenergy.com/events-presentations. Please submit any questions for management prior to the call via email to TUSK@vizaraadvisors.com.

About Mammoth Energy Services, Inc.

We are an integrated, growth-oriented company focused on providing products and services to our customers primarily in the oil and natural gas, aviation and utility infrastructure industries. Our suite of services includes rental services, infrastructure services, natural sand proppant services, accommodation services and drilling services. Our rental services segment provides a wide range of equipment used in oilfield, construction and aviation activities. Our infrastructure services segment provides fiber optic services to the utility infrastructure industry. Our natural sand proppant services segment mines, processes and sells natural sand proppant used for hydraulic fracturing. Our accommodation services provide housing, kitchen and dining, and recreational service facilities for workers located in remote areas away from readily available lodging. Our drilling services segment provides directional drilling to oilfield operators. For more information, please visit www.mammothenergy.com.

Contacts:

Mark Layton, CFO

Mammoth Energy Services, Inc

investors@mammothenergy.com

Mohammed Topiwala

Vizara Advisors - Investor Relations

TUSK@vizaraadvisors.com

Forward-Looking Statements and Cautionary Statements

This news release (and any oral statements made regarding the subjects of this release, including on the conference call announced herein) contains certain statements and information that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts that address activities, events or developments that Mammoth expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements may be identified by words such as “may,” “will,” “could,” “should,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “estimate,” “project,” “forecast,” “target,” “continue,” “potential,” or similar expressions, and the negative thereof. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include statements, estimates and projections regarding the Company’s expectations, plans, objectives, strategies, business outlook, future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, plans for stock repurchases under its stock

repurchase program, business trends, costs and other guidance regarding future developments. Forward-looking statements are not assurances of future performance. Forward-looking statements include, without limitation, the Company's 2026 outlook, including expected revenue growth, Adjusted EBITDA margins, aviation utilization, acquisitions, capital expenditures and other financial guidance.

These forward-looking statements are based on management’s current expectations and beliefs, forecasts for the Company’s existing operations, experience and perception of historical trends, current conditions, anticipated future developments and their effect on Mammoth, and other factors believed to be appropriate. Although management believes that the expectations and assumptions reflected in these forward-looking statements are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all). Forward-looking statements are subject to risks and uncertainties, many of which are beyond our control. As a result, actual outcomes and results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include, among others:

•the impact of the recent divestiture of our subsidiaries 5 Star Electric, LLC, Higher Power Electrical, LLC, Python Equipment LLC and Aquawolf LLC, and the equipment previously used in our hydraulic fracturing business;

•general economic, financial and industry conditions, including inflation, commodity price volatility and fluctuations in customer spending and capital expenditure activity;

•conditions in the energy, infrastructure, aviation, rental equipment and natural sand proppant markets that affect demand for our services and products;

•fluctuations in the value of our marketable securities portfolio and the impact of unrealized gains and losses on our reported financial results;

•our ability to execute our business strategy, successfully integrate acquired businesses, realize anticipated acquisition benefits, grow existing operations and identify additional growth opportunities;

•our ability to successfully deploy capital into aviation assets, achieve expected utilization levels and realize anticipated returns on aviation-related investments;

•the availability and cost of labor, equipment, materials, replacement parts and other operational resources;

•customer concentration, customer payment risks and our ability to collect outstanding receivables, including the timing and collectability of amounts owed by the Puerto Rico Electric Power Authority (“PREPA”);

•the adequacy of our capital resources and liquidity;

•governmental actions, regulations, permitting requirements, trade policies, tariffs and other legal or regulatory developments;

•litigation, claims, investigations and other contingent liabilities;

•weather events, natural disasters, acts of war, terrorism, civil unrest, cybersecurity incidents and other events beyond our control; and

•the other risks and uncertainties described under Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 6, 2026, as updated by Part II, Item 1A, “Risk Factors” in our subsequent Quarterly Reports on Form 10-Q, and in our Current Reports on Form 8-K and other filings we make with the SEC, which are available on the SEC’s website at www.sec.gov and on Mammoth’s website at www.ir.mammothenergy.com.

The forward-looking statements contained in this news release speak only as of the date of this news release or, if earlier, as of the date they were made, and are based on information available to us as of that date. Except as required by applicable law, we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, and readers are cautioned not to place undue reliance on these forward-looking statements.

MAMMOTH ENERGY SERVICES, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

ASSETS June 30, December 31,

2026 2025

CURRENT ASSETS (in thousands, except share data)

Cash and cash equivalents $ 50,869 $ 101,987

Marketable securities 26,150 19,635

Restricted cash 11,914 12,085

Accounts receivable, net 39,402 28,934

Inventories 11,043 4,083

Current assets held for sale 2,227 4,287

Other current assets 3,066 4,619

Current assets of discontinued operations 1,334 1,518

Total current assets 146,005 177,148

Property, plant and equipment, net 149,909 106,097

Sand reserves, net 39,369 39,613

Operating lease right-of-use assets 3,518 2,591

Goodwill 1,462 —

Other non-current assets 5,693 5,767

Noncurrent assets of discontinued operations 6 3,678

Total assets $ 345,962 $ 334,894

LIABILITIES AND EQUITY

CURRENT LIABILITIES

Accounts payable $ 11,557 $ 9,327

Accrued expenses and other current liabilities 19,875 18,336

Current operating lease liabilities 2,359 2,071

Income taxes payable 41,421 39,899

Current liabilities of discontinued operations 298 383

Total current liabilities 75,510 70,016

Deferred income tax liabilities 3,345 2,430

Long-term operating lease liabilities 1,617 1,375

Asset retirement obligations 2,777 2,759

Other long-term liabilities 324 26

Total liabilities 83,573 76,606

COMMITMENTS AND CONTINGENCIES

EQUITY

Equity:

Common stock, $0.01 par value, 200,000,000 shares authorized, 48,127,585 and 48,358,315 issued and outstanding at June 30, 2026 and December 31, 2025, respectively

481 483

Additional paid-in capital 540,848 540,841

Accumulated deficit (274,619) (279,046)

Accumulated other comprehensive loss (4,321) (3,990)

Total equity 262,389 258,288

Total liabilities and equity $ 345,962 $ 334,894

MAMMOTH ENERGY SERVICES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(unaudited)

Three Months Ended Six Months Ended

June 30, March 31, June 30,

2026 2025 2026 2026 2025

(in thousands, except per share amounts)

REVENUE

Services revenue $ 15,882 $ 6,402 $ 11,170 $ 27,052 $ 11,216

Services revenue - related parties 197 575 496 694 652

Product revenue 9,975 5,376 10,364 20,339 12,115

Total revenue 26,054 12,353 22,030 48,085 23,983

COST, EXPENSES AND GAINS

Services cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $3,958, $1,414, $3,041, $6,999 and $2,621 for the three months ended June 30, 2026, June 30, 2025, and March 31, 2026 and six months ended June 30, 2026 and 2025, respectively)

9,488 5,744 6,254 15,742 10,239

Services cost of revenue - related parties — 96 — — 192

Product cost of revenue (exclusive of depreciation, depletion, amortization and accretion of $676, $1,413, $429, $1,105 and $2,289 for the three months ended June 30, 2026, June 30, 2025, and March 31, 2026 and six months ended June 30, 2026 and 2025, respectively)

9,713 5,263 10,253 19,966 10,738

Selling, general and administrative 4,232 4,958 3,596 7,828 9,074

Depreciation, depletion, amortization and accretion 4,634 2,827 3,470 8,104 4,910

Gains on disposal of assets, net (4,641) (1,077) (674) (5,316) (4,549)

Impairment of long-lived assets — 31,669 — — 31,669

Total cost, expenses and gains, net 23,426 49,480 22,899 46,324 62,273

Operating income (loss) 2,628 (37,127) (869) 1,761 (38,290)

OTHER INCOME (EXPENSE)

Interest (expense) income, net (784) 298 514 (270) 383

(Loss) gain on marketable securities, net (1,116) — 7,103 5,987 —

Other expense, net (73) (628) (609) (682) (960)

Total other (expense) income, net (1,973) (330) 7,008 5,035 (577)

Income (loss) before income taxes 655 (37,457) 6,139 6,796 (38,867)

Provision (benefit) for income taxes 1,853 (934) 1,455 3,309 (97)

Net (loss) income from continuing operations (1,198) (36,523) 4,684 3,487 (38,770)

Net income from discontinued operations, net of income taxes 438 45,371 503 940 47,081

Net (loss) income $ (760) $ 8,848 $ 5,187 $ 4,427 $ 8,311

OTHER COMPREHENSIVE INCOME (LOSS)

Foreign currency translation adjustment $ (213) $ 478 $ (118) $ (331) $ 497

Other comprehensive (loss) income (213) 478 (118) (331) 497

Comprehensive (loss) income $ (973) $ 9,326 $ 5,069 $ 4,096 $ 8,808

Net (loss) income per share from continuing operations, basic and diluted $ (0.02) $ (0.76) $ 0.10 $ 0.07 $ (0.80)

Net income per share from discontinued operations, basic and diluted 0.01 0.94 0.01 0.02 0.98

Net (loss) income per share, basic and diluted $ (0.01) $ 0.18 $ 0.11 $ 0.09 $ 0.18

Weighted average number of shares outstanding, basic and diluted 48,164 48,225 48,330 48,247 48,188

MAMMOTH ENERGY SERVICES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

Six Months Ended

June 30,

2026 2025

(in thousands)

Cash flows from operating activities:

Net income $ 4,427 $ 8,311

Less: Net income from discontinued operations, net of income taxes 940 47,081

Net income (loss) from continuing operations 3,487 (38,770)

Adjustments to reconcile net income (loss) from continuing operations to net cash used in operating activities:

Stock based compensation — 412

Depreciation, depletion, amortization and accretion 8,104 4,910

Amortization of debt origination costs 1,432 354

Gains on disposal of assets, net (5,316) (4,549)

Gains from sale of aviation equipment (700) —

Gains from sales of equipment damaged or lost down-hole (230) —

Impairment of long-lived assets — 31,669

Gain on marketable securities, net (5,987) —

Other 1,750 (1,839)

Changes in assets and liabilities:

Accounts receivable, net (9,331) (702)

Inventories (6,960) 531

Other current assets 532 3,271

Accounts payable 187 (1,588)

Accrued expenses and other liabilities 1,273 (4,893)

Income taxes payable 1,535 3,440

Net cash used in operating activities from continuing operations (10,224) (7,754)

Net cash provided by (used in) operating activities from discontinued operations 200 (2,059)

Net cash used in operating activities (10,024) (9,813)

Cash flows from investing activities:

Purchases of property, plant and equipment (55,669) (27,334)

Business acquisitions, net of cash transferred (5,748) —

Proceeds from disposal of property, plant and equipment 8,383 4,942

Proceeds from sale of aviation equipment 8,500 —

Purchases of marketable securities (7,929) —

Distributions received from publicly traded limited partnerships 665 —

Proceeds from sale of marketable securities 6,736 —

Net cash used in investing activities from continuing operations (45,062) (22,392)

Net cash provided by investing activities from discontinued operations 4,581 111,258

Net cash (used in) provided by investing activities (40,481) 88,866

Cash flows from financing activities:

Principal payments on finance leases and equipment financing notes (136) (253)

Common stock repurchased and retired (534) —

Net cash used in financing activities from continuing operations (670) (253)

Net cash used in financing activities from discontinued operations — (3,848)

Net cash used in financing activities (670) (4,101)

Effect of foreign exchange rate on cash (111) 113

Net (decrease) increase in cash, cash equivalents and restricted cash (51,286) 75,065

Cash, cash equivalents and restricted cash at beginning of period 114,124 82,326

Cash, cash equivalents and restricted cash at end of period 62,838 157,391

Less: Cash, cash equivalents and restricted cash of discontinued operations at end of period 55 88

Cash, cash equivalents and restricted cash of continuing operations $ 62,783 $ 157,303

MAMMOTH ENERGY SERVICES, INC.

SEGMENT INFORMATION

(in thousands)

Three Months Ended June 30, 2026 Rentals Infrastructure Sand Accommodations Drilling Corporate, Other & Eliminations Total

Revenue from external and related party customers $ 10,115 $ 940 $ 7,975 $ 3,202 $ 3,822 $ — $ 26,054

Intersegment revenue 108 — — — — (108) —

Total revenue 10,223 940 7,975 3,202 3,822 (108) 26,054

Less expenses:

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 4,722 1,540 7,713 2,118 2,972 136 19,201

Selling, general and administrative, exclusive of stock based compensation 1,775 290 685 288 230 964 4,232

Adjusted EBITDA $ 3,726 $ (890) $ (423) $ 796 $ 620 $ (1,208) $ 2,621

Three Months Ended June 30, 2025 Rentals Infrastructure Sand Accommodations Drilling Corporate, Other & Eliminations Total

Revenue from external and related party customers $ 3,078 $ 1,389 $ 5,376 $ 1,767 $ 743 $ — $ 12,353

Intersegment revenue 28 — — — — (28) —

Total revenue 3,106 1,389 5,376 1,767 743 (28) 12,353

Less expenses:

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties 1,567 1,355 5,262 1,242 758 919 11,103

Selling, general and administrative, exclusive of stock based compensation 1,121 203 1,386 407 210 1,431 4,758

Adjusted EBITDA $ 418 $ (169) $ (1,272) $ 118 $ (225) $ (2,378) $ (3,508)

Three Months Ended March 31, 2026 Rentals Infrastructure Sand Accommodations Drilling Corporate, Other & Eliminations Total

Revenue from external and related party customers $ 12,935 $ 269 $ 3,864 $ 3,541 $ 1,421 $ — $ 22,030

Intersegment revenue 32 — — — — (32) —

Total revenue 12,967 269 3,864 3,541 1,421 (32) 22,030

Less expenses:

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 8,060 511 4,455 2,138 1,192 151 16,507

Selling, general and administrative, exclusive of stock based compensation 1,268 186 853 332 251 706 3,596

Adjusted EBITDA $ 3,639 $ (428) $ (1,444) $ 1,071 $ (22) $ (889) $ 1,927

MAMMOTH ENERGY SERVICES, INC.

SEGMENT INFORMATION

(in thousands)

Six Months Ended June 30, 2026 Rentals Infrastructure Sand Accommodations Drilling Corporate, Other & Eliminations Total

Revenue from external and related party customers $ 23,050 $ 1,208 $ 11,839 $ 6,743 $ 5,245 $ — $ 48,085

Intersegment revenue 140 — — — — (140) —

Total revenue 23,190 1,208 11,839 6,743 5,245 (140) 48,085

Less expenses:

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 12,781 2,051 12,168 4,257 4,164 287 35,708

Selling, general and administrative, exclusive of stock based compensation 3,043 476 1,538 620 482 1,669 7,828

Adjusted EBITDA $ 7,366 $ (1,319) $ (1,867) $ 1,866 $ 599 $ (2,096) $ 4,549

Six Months Ended June 30, 2025 Rentals Infrastructure Sand Accommodations Drilling Corporate, Other & Eliminations Total

Revenue from external and related party customers $ 4,994 $ 2,102 $ 12,115 $ 3,847 $ 925 $ — $ 23,983

Intersegment revenue 38 — — — — (38) —

Total revenue 5,032 2,102 12,115 3,847 925 (38) 23,983

Less expenses:

Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties 2,984 2,229 10,738 2,673 1,154 1,391 21,169

Selling, general and administrative, exclusive of stock based compensation 1,488 323 2,816 796 420 2,819 8,662

Adjusted EBITDA $ 560 $ (450) $ (1,439) $ 378 $ (649) $ (4,248) $ (5,848)

MAMMOTH ENERGY SERVICES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Adjusted EBITDA from Continuing Operations

Adjusted EBITDA from continuing operations is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA from continuing operations as net income (loss) from continuing operations before depreciation, depletion, amortization and accretion, gains on disposal of assets, net, impairment of long lived assets, equity based compensation, stock based compensation, interest expense (income), net, (loss) gain on marketable securities, net, other (income) expense, net and provision for income taxes. We exclude the items listed above from net income (loss) from continuing operations in arriving at Adjusted EBITDA from continuing operations because these amounts can vary substantially from company to company within our industries depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA from continuing operations should not be considered as an alternative to, or more meaningful than, net income (loss) from continuing operations or cash flows from operating activities as determined in accordance with GAAP or as an indicator of our operating performance or liquidity. Certain items excluded from Adjusted EBITDA from continuing operations are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historical costs of depreciable assets, none of which are components of Adjusted EBITDA from continuing operations. Our computations of Adjusted EBITDA from continuing operations may not be comparable to other similarly titled measures of other companies. We believe that Adjusted EBITDA from continuing operations is a widely followed measure of operating performance and may also be used by investors to measure our ability to meet debt service requirements.

The following tables provide a reconciliation of Adjusted EBITDA from continuing operations to net income (loss) from continuing operations, the most directly comparable GAAP financial measure for the specified periods (in thousands):

Three Months Ended Six Months Ended

June 30, March 31, June 30,

Reconciliation of net (loss) income from continuing operations to Adjusted EBITDA from continuing operations: 2026 2025 2026 2026 2025

Net (loss) income from continuing operations $ (1,198) $ (36,523) $ 4,684 $ 3,487 $ (38,770)

Depreciation, depletion, amortization and accretion 4,634 2,827 3,470 8,104 4,910

Gains on disposal of assets, net (4,641) (1,077) (674) (5,316) (4,549)

Impairment of long-lived assets — 31,669 — — 31,669

Equity based compensation 544 — — 544 —

Stock based compensation — 200 — — 412

Interest expense (income), net 784 (298) (514) 270 (383)

Loss (gain) on marketable securities, net 1,116 — (7,103) (5,987) —

Other (income) expense, net (471) 628 609 138 960

Provision (benefit) for income taxes 1,853 (934) 1,455 3,309 (97)

Adjusted EBITDA from continuing operations $ 2,621 $ (3,508) $ 1,927 $ 4,549 $ (5,848)

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