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Smart Sand, Inc. (SND) Annual Reports

Q: Where can I read Smart Sand, Inc. (SND) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Smart Sand, Inc. is listed on Nasdaq, classified by the SEC under Mining & Quarrying of Nonmetallic Minerals (No Fuels) (SIC 1400). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1529628 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$115.0M	$85.8M	+34.1%
Operating income	$10.1M	$-77,000	+13153.2%
Net income	$10.2M	$21.4M	-52.5%
EPS (diluted)	$0.25	$0.54	-53.7%

Company guidance
	Period	Range
Free cash flow	FY2026	$15M – $20M

Figures are the company’s own outlook as stated in its earnings release, not analyst estimates.

Source: SEC EDGAR (XBRL company facts); guidance from Form 8-K Exhibit 99.1

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 115 mn Net income 10.2 mn

Show table：Income statement

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	68.2	13.1	10.4	9.03	15.2	10.4	8.49	10.9	29.4	25.1	29.8	39.3	43.0	42.6	54.5	63.1	52.3	51.8	67.9	65.7	47.7	47.5	26.1	23.4	25.3	27.4	29.6	34.5	35.1	41.6	68.7	71.6	73.8	82.3	74.8	76.9	62.0	83.0	73.8	63.2	91.4	65.6	85.8	92.8	86.0	93.1	115
Gross profit	38.2	—	—	4.16	11.3	5.02	1.96	5.00	20.7	5.40	8.38	13.0	10.1	7.22	19.8	22.6	18.0	11.2	24.9	27.1	17.9	6.40	14.2	5.18	-7.66	-4.98	-2.36	-2.05	-6.52	-1.98	8.97	11.4	11.2	11.6	12.7	14.4	2.83	11.8	13.1	6.49	13.4	2.77	8.96	14.9	11.2	6.11	19.8
Operating income	25.8	—	—	1.85	9.04	2.83	-0.25	2.53	15.3	1.56	3.81	8.77	4.56	1.35	12.9	17.4	-5.79	5.95	19.2	14.4	3.88	0.53	8.65	-1.25	-21.0	-11.1	-28.7	-8.76	-15.0	-9.95	1.39	3.78	1.66	-1.61	3.08	4.93	-7.90	0.78	3.53	-4.91	3.60	-7.05	-0.08	5.37	-2.70	-4.87	10.1
Net income	7.56	0.2	0.73	1.80	2.27	0.38	-2.35	-0.1	12.4	0.97	2.62	7.05	10.9	0.98	10.0	12.1	-4.43	4.03	14.3	10.9	2.39	-0.08	4.64	36.3	-2.88	-3.91	-27.3	-7.26	-12.2	-5.92	-0.09	2.68	2.63	-3.60	6.31	6.73	-4.79	-0.22	-0.43	-0.1	3.74	-24.2	21.4	3.00	1.18	-3.86	10.2

Balance sheet

Quarterly · In mn (USD)

Total assets 347 mn Total liabilities 109 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	—	—	—	—	15.6	—	—	11.0	65.0	95.1	92.4	83.6	72.7	40.8	47.1	53.5	50.1	57.6	68.5	79.0	90.4	92.8	97.0	111	112	107	81.7	82.7	73.9	56.1	65.2	72.6	68.1	72.0	60.3	60.2	61.9	71.2	64.8	64.8	75.5	67.2	83.1	84.0	88.1	83.0	92.6
Total assets	—	—	—	—	133	—	—	124	173	201	205	223	247	255	311	327	320	362	373	372	362	359	359	437	428	417	387	383	374	367	374	375	360	359	349	347	346	349	342	336	342	327	346	343	340	336	347
Current liabilities	—	—	—	—	48.6	—	—	53.6	13.7	15.6	12.5	24.4	34.6	25.7	30.0	31.2	24.6	39.2	75.3	61.6	40.0	39.1	33.1	41.0	37.3	37.3	34.6	40.0	48.5	48.2	53.7	54.9	51.9	56.9	50.8	44.8	54.5	59.3	39.1	37.8	43.2	38.4	44.8	49.4	49.9	50.2	54.9
Total liabilities	—	—	—	—	129	—	—	121	31.0	33.1	33.8	44.7	56.8	63.0	109	112	111	148	143	131	117	115	108	146	139	132	129	131	133	131	137	136	117	128	110	100	104	107	99.0	92.3	97.7	107	105	103	100	102	109
Equity	-1.96	—	—	—	3.73	—	—	2.31	142	168	171	179	190	192	202	215	209	214	229	241	244	244	251	291	289	286	259	252	241	236	237	240	243	232	239	246	242	243	243	244	244	220	241	240	240	234	238

Cash flow

Quarterly · In mn (USD)

Operating 3.41 mn Investing -4.77 mn Financing -7.90 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	22.1	—	—	17.6	13.1	2.82	3.25	2.03	18.6	3.84	-3.18	7.89	7.07	-1.61	20.5	14.8	17.2	6.32	11.1	22.9	4.31	12.1	13.8	-3.62	3.32	3.91	32.6	1.06	-5.11	-8.66	-2.29	10.8	5.59	5.11	16.1	12.5	-2.66	-3.86	14.9	5.81	1.03	8.72	-5.14	18.2	22.4	3.04	3.41
Investing	-30.9	—	—	-26.9	-2.48	-0.65	-0.04	-1.26	-0.52	-1.61	-6.11	-19.9	-23.6	-46.9	-49.9	-14.8	-14.4	-8.50	-5.37	-5.65	-5.91	-4.18	-2.24	-0.97	-1.17	-2.21	-2.83	-1.86	-4.24	-10.3	-1.37	-3.40	-3.12	-4.02	-5.15	-6.83	-6.90	-1.64	-1.35	-2.06	-1.87	-3.53	-1.94	-3.38	-2.00	-2.20	-4.77
Financing	7.43	—	—	8.54	-6.77	-5.65	-1.76	-1.92	28.7	23.9	-0.52	-0.07	-0.08	15.9	28.4	-0.53	-2.47	3.08	-6.83	-16.4	2.14	1.01	-6.42	-1.06	-1.42	-2.01	-1.88	-1.81	-1.74	-1.91	1.06	0.9	-7.33	1.01	-13.0	-1.83	6.32	4.03	-11.9	-2.80	-4.83	-1.63	6.26	-14.0	-2.90	-3.94	-7.90
Cash at period end	0.8	—	—	0.09	3.90	—	1.87	0.71	46.6	73.6	63.4	51.3	34.7	2.13	1.75	1.19	1.47	2.37	1.25	2.10	2.64	11.5	16.6	11.0	11.7	11.4	39.3	36.7	25.6	4.70	2.10	10.4	5.51	7.60	5.49	9.31	6.07	4.60	6.26	7.22	1.55	5.11	4.29	5.08	22.6	19.4	10.2

Profitability

Quarterly · %

Gross margin 17.2% Operating margin 8.7% Net margin 8.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Gross margin	56.1%	—	—	46.1%	74.5%	48.5%	23.1%	45.7%	70.2%	21.5%	28.1%	33.1%	23.4%	16.9%	36.3%	35.7%	34.5%	21.6%	36.6%	41.3%	37.5%	13.5%	54.4%	22.1%	-30.2%	-18.1%	-8.0%	-5.9%	-18.6%	-4.8%	13.1%	16.0%	15.1%	14.1%	17.0%	18.7%	4.6%	14.2%	17.7%	10.3%	14.7%	4.2%	10.4%	16.1%	13.0%	6.6%	17.2%
Operating margin	37.8%	—	—	20.4%	59.6%	27.4%	-3.0%	23.2%	51.9%	6.2%	12.8%	22.3%	10.6%	3.2%	23.7%	27.6%	-11.1%	11.5%	28.3%	22.0%	8.1%	1.1%	33.1%	-5.3%	-82.7%	-40.3%	-96.7%	-25.4%	-42.7%	-23.9%	2.0%	5.3%	2.2%	-1.9%	4.1%	6.4%	-12.8%	0.9%	4.8%	-7.8%	3.9%	-10.8%	-0.1%	5.8%	-3.1%	-5.2%	8.7%
Net margin	11.1%	1.6%	7.0%	19.9%	14.9%	3.7%	-27.6%	-0.9%	42.2%	3.9%	8.8%	17.9%	25.3%	2.3%	18.4%	19.2%	-8.5%	7.8%	21.0%	16.6%	5.0%	-0.2%	17.8%	155.0%	-11.4%	-14.3%	-92.0%	-21.1%	-34.9%	-14.2%	-0.1%	3.8%	3.6%	-4.4%	8.4%	8.8%	-7.7%	-0.3%	-0.6%	-0.2%	4.1%	-37.0%	24.9%	3.2%	1.4%	-4.2%	8.8%

Returns & leverage

Quarterly · %

ROE 4.4% ROA 3.0% Debt ratio 31.4%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	—	563.2%	—	—	8.8%	14.2%	6.5%	9.3%	25.5%	12.9%	12.0%	15.5%	17.3%	9.4%	10.7%	12.1%	10.9%	13.9%	12.0%	7.4%	16.3%	14.2%	12.9%	0.9%	-15.2%	-19.1%	-20.2%	-10.3%	-6.3%	-0.3%	0.7%	3.4%	5.0%	1.9%	3.4%	0.5%	-2.3%	1.2%	-9.1%	0.3%	1.6%	0.6%	9.6%	4.4%
ROA	—	—	—	—	3.8%	—	—	0.2%	6.8%	5.5%	7.8%	13.3%	10.2%	9.4%	11.2%	12.4%	6.6%	7.0%	7.6%	7.1%	9.3%	7.6%	4.9%	10.7%	9.6%	8.8%	0.6%	-10.1%	-12.6%	-13.4%	-6.7%	-4.1%	-0.2%	0.5%	2.2%	3.3%	1.3%	2.3%	0.4%	-1.6%	0.9%	-6.2%	0.2%	1.1%	0.4%	6.6%	3.0%
Debt ratio	—	—	—	—	97.2%	—	—	98.1%	17.9%	16.5%	16.5%	20.0%	23.0%	24.8%	35.1%	34.2%	34.6%	40.8%	38.4%	35.2%	32.5%	32.1%	30.0%	33.4%	32.5%	31.6%	33.2%	34.2%	35.5%	35.6%	36.8%	36.2%	32.4%	35.5%	31.5%	29.0%	30.0%	30.6%	28.9%	27.5%	28.6%	32.7%	30.5%	30.1%	29.5%	30.3%	31.4%

EPS

Quarterly · US$

EPS US$0.25

Show table：EPS

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	0.29	0.01	0.03	0.07	0.09	0.01	-0.11	0.00	0.40	0.02	0.06	0.17	0.27	0.02	0.25	0.30	-0.11	0.10	0.36	0.27	0.05	0.00	0.12	0.91	-0.07	-0.09	-0.65	-0.17	-0.29	-0.14	0.00	0.06	0.06	-0.09	0.17	0.18	-0.12	-0.01	-0.01	0.00	0.10	-0.62	0.54	0.08	0.03	-0.10	0.25

Revenue & profit

Year-to-date · In mn (USD)

Revenue 208 mn Net income 6.31 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 347 mn Total liabilities 109 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating 6.46 mn Investing -6.97 mn Financing -11.8 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 12.5% Operating margin 2.5% Net margin 3.0%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 4.4% ROA 3.0% Debt ratio 31.4%

EPS

Year-to-date · US$

EPS US$0.15

Revenue & profit

Annual · In mn (USD)

Revenue 330 mn Net income 1.35 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	47.7	59.2	137	212	233	122	127	256	296	311	330
Gross profit	—	32.7	36.9	67.6	81.0	18.1	-15.9	29.6	41.6	44.8	37.9
Operating income	—	20.4	18.7	25.9	43.5	-13.0	-63.5	-3.13	-1.50	3.00	-4.46
Net income	4.99	10.4	21.5	18.7	31.6	38.0	-50.7	-0.7	4.65	2.99	1.35

Balance sheet

Annual · In mn (USD)

Total assets 340 mn Total liabilities 100 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	15.6	65.0	72.7	50.1	90.4	112	73.9	68.1	61.9	75.5	88.1
Total assets	133	173	247	320	362	428	374	360	346	342	340
Current liabilities	48.6	13.7	34.6	24.6	40.0	37.3	48.5	51.9	54.5	43.2	49.9
Total liabilities	129	31.0	56.8	111	117	139	133	117	104	97.7	100
Equity	3.73	142	190	209	244	289	241	243	242	244	240

Cash flow

Annual · In mn (USD)

Operating 44.1 mn Investing -10.8 mn Financing -12.3 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	—	26.7	15.6	50.9	44.6	25.5	32.4	5.42	31.0	17.9	44.1
Investing	—	-2.47	-51.1	-126	-25.4	-8.56	-11.1	-18.2	-22.9	-6.92	-10.8
Financing	—	19.4	23.2	41.3	-18.0	-7.90	-7.43	-7.29	-7.53	-15.5	-12.3
Cash at period end	3.90	46.6	34.7	1.47	2.64	11.7	25.6	5.51	6.07	1.55	22.6

Profitability

Annual · %

Gross margin 11.5% Operating margin -1.4% Net margin 0.4%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Gross margin	—	55.1%	26.9%	31.8%	34.8%	14.8%	-12.6%	11.6%	14.0%	14.4%	11.5%
Operating margin	—	34.4%	13.6%	12.2%	18.7%	-10.6%	-50.1%	-1.2%	-0.5%	1.0%	-1.4%
Net margin	10.5%	17.5%	15.7%	8.8%	13.6%	31.0%	-40.0%	-0.3%	1.6%	1.0%	0.4%

Returns & leverage

Annual · %

ROE 0.6% ROA 0.4% Debt ratio 29.5%

Show table：Returns & leverage

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	133.8%	14.2%	12.9%	9.4%	13.9%	14.2%	-19.1%	-0.3%	1.9%	1.2%	0.6%
ROA	3.8%	6.8%	10.2%	6.6%	9.3%	9.6%	-12.6%	-0.2%	1.3%	0.9%	0.4%
Debt ratio	97.2%	17.9%	23.0%	34.6%	32.5%	32.5%	35.5%	32.4%	30.0%	28.6%	29.5%

EPS

Annual · US$

EPS US$0.03

Show table：EPS

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	0.20	0.30	0.52	0.46	0.78	0.96	-1.20	-0.02	0.14	0.08	0.03

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read Smart Sand, Inc. (SND) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
Back to US annual reports, or see the supply-chain maps.