Flagship explainer

How Smart Sand, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$330M · 100%Cost of revenue$292M · 89%Gross profit$37.9M · 11%Operating income−$4.5M · −1%Income before tax−$5.6M · −2%Income tax−$6.9M · −2%Net income$1.3M · 0%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$330M100%
Cost of revenue$292M89%
$37.9M11%
−$4.5M−1%
Income before tax−$5.6M−2%
Income tax−$6.9M−2%
$1.3M0%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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