Atlas Energy Solutions Inc.

Listed Company

AESICIK 0001984060NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.10B

Net Income

$-50.30M

Total Assets

$2.23B

Equity

$1.21B

Shares Out

124.16M

Op. Cash Flow

$117.35M

Business

Atlas Energy Solutions Inc. is a proppant producer, logistics provider, and distributed power solutions company serving the oil and gas industry. It supplies high-quality dry and damp proppant sands in multiple mesh sizes and offers mine-to-wellhead delivery, transportation, storage, and contract labor services, together with natural gas‑powered distributed generation. The company operates core businesses in proppant production, a logistics platform featuring a long‑distance conveyor and a trucking fleet with autonomous technologies, a mobile distributed mining network, and distributed power services. Operations and deliveries concentrate on the Permian Basin with facilities sited near major highways and remotely managed from a central command center.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1,095	1,056	614	483	172
Cost of sales (excluding depreciation, depletion and accretion expense)	784	725	260	199	85
Depreciation, depletion and accretion expense	160	99	40	27	24
Gross profit	151	232	314	256	64
Selling, general and administrative expense (including stock and unit-based compensation expense of $33,227, $22,381, and $7,409, respectively)	139	106	49	24	17
Credit loss expense	5	25,000	28,000	—	—
Amortization expense of acquired intangible assets	24	12	0	0	—
Change in fair value of contingent consideration	−3	0	0	—	—
Loss on disposal of assets	0	20	0	0	—
Insurance recovery (gain)	−2	−20	0	0	—
Operating income (loss)	−11	114	265	232	47
Interest (expense), net	−58	−39	−8	−16	—
Other income, net	727,000	551,000	430,000	3	291,000
Income (loss) before income taxes	−68	76	258	219	5
Income tax expense (benefit)	−18	16	31	2	800,000
Net income (loss)	−50	60	226	217	4
Less: Pre-IPO net income attributable to Atlas Sand Company, LLC	—	—	55	—	—
Less: Net income attributable to redeemable noncontrolling interest	—	—	67	—	—
Net income (loss) attributable to Atlas Energy Solutions, Inc.	−50	60	105	217	4
Net income (loss) per common share, Basic	−0.41	0.55	1.5	—	—
Net income (loss) per common share, Diluted	−0.41	0.55	1.48	—	—
Weighted average common shares outstanding, Basic	122	108	70	—	—
Weighted average common shares outstanding, Diluted	122	109	71	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-02-29	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	41	72	—	210	82
Accounts receivable, net	181	166	—	71	73
Inventories	14	17	—	6	6
Spare part inventories, net	48	23	—	15	—
Prepaid expenses and other current assets	24	11	—	15	6
Total current assets	308	289	—	319	179
Property, plant and equipment, net	1,541	1,486	—	935	542
Operating lease right-of-use assets	11	14	—	4	4
Finance lease right-of-use assets	33	5	—	424,000	19
Goodwill	153	69	91	0	—
Intangible assets, net	182	106	—	2	—
Other long-term assets	1	3	—	2	8
Total assets	2,228	1,973	—	1,262	751
Accounts payable	69	119	—	61	32
Accrued liabilities	85	60	—	28	31
Current portion of long-term debt	41	44	—	0	21
Current portion of operating lease liabilities	347,000	7	—	1	—
Current portion of finance lease liabilities	6	3	—	158,000	—
Current portion of deferred revenue	1	8	—	0	—
Other current liabilities	8	3	—	2	6
Total current liabilities	211	243	—	93	89
Long-term debt, net of discount and deferred financing costs	538	467	—	173	127
Deferred tax liabilities	222	207	—	122	2
Operating lease liabilities	11	7	—	3	—
Finance lease liabilities	25	2	—	264,000	—
Asset retirement obligation	7	7	—	3	—
Other long-term liabilities	6	2	—	454,000	22
Total liabilities	1,020	936	—	394	240
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.01 par value; 500,000,000 authorized; no shares issued and outstanding as of December 31, 2025 and 2024.	0	0	—	0	0
Common Stock, $0.01 par value, 1,500,000,000 shares authorized, 124,111,436 shares and 110,217,322 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	1	1	—	1	—
Additional paid-in-capital	1,258	1,035	—	908	0
Accumulated deficit	−50	0	—	−41	0
Total stockholders' equity	1,209	1,037	—	868	511
Total liabilities and stockholders' equity	2,228	1,973	—	1,262	751

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion and accretion expense	165	102	42	29	25
Amortization of debt discount	6	4	761,000	457,000	7
Amortization of deferred financing costs	403,000	435,000	337,000	442,000	739,000
Deferred income tax	−17	15	29	−2,000	360,000
Other	2	−2	111,000	293,000	—
Accounts receivable	−11	−13	2	−44	−18
Accounts receivable - related party	−72,000	0	868,000	−768,000	−188,000
Inventories	4	−7	−835,000	−2	−364,000
Spare part inventories	−16	−5	−5	−4	−617,000
Prepaid expenses and other current assets	−15	6	−10	−2	−1
Other long-term assets	2	−644,000	−1	−7	−596,000
Accounts payable	−25	23	5	8	6
Accounts payable - related parties	−204,000	−51,000	123,000	−464,000	480,000
Deferred revenue	−7	−2	0	−2	2
Accrued liabilities and other liabilities	21	21	2	13	4
Net cash provided by operating activities	117	256	299	206	21
Purchases of property, plant and equipment	−148	−374	−365	−90	−19
Acquisitions, net of cash acquired	−204	−153	0	0	—
Proceeds from insurance recovery	8	15	0	0	—
Net cash used in investing activities	−345	−513	−365	−90	−19
Proceeds from equity offering, net of issuance costs	253	0	0	—	—
Proceeds from term loan borrowing	187	169	0	0	178
Proceeds from ABL credit facility	50	70	0	0	—
Principal payments on term loan borrowings	−17	−14	−17	−29	—
Payment on ABL credit facility	−70	0	—	—	—
Payment on Deferred Cash Consideration Note	−101	0	0	—	—
Issuance costs associated with debt financing	−281,000	−1	−4	−233,000	−660,000
Payments under finance leases	−4	−3	−2	−1	—
Repayment of equipment finance notes	−5	−4	0	0	—
Dividends and distributions	−92	−97	−62	0	—
Taxes withheld on vesting RSUs	−3	−2	0	0	—
Repurchases of Common Stock under share repurchase program	−200,000	0	0	—	—
Net proceeds from IPO	0	0	303	—	—
Payment of offering costs	0	0	−6	0	0
Member distributions prior to IPO	0	0	−15	−45	−10
Prepayment fee on 2021 Term Loan Credit Facility	0	0	−3	0	0
Net cash provided by financing activities	196	118	195	−75	2
Net increase (decrease) in cash and cash equivalents	−31	−138	128	42	4
Interest	49	38	15	15	19
Taxes (net of refunds)	914,000	2	11	468,000	14,000
Property, plant and equipment in accounts payable and accrued liabilities	8	37	44	23	3
Contingent consideration	2	0	0	—	—
Equipment assets acquired through debt	20	5	0	0	—
Hi-Crush acquisition consideration, Deferred Cash Consideration Note	0	107	0	0	—
Redeemable noncontrolling interest cumulative adjustment to redemption value	0	0	185	0	0
Finance lease assets acquired through debt	0	0	39	0	0
Finance lease liabilities converted to debt	0	0	43	0	0

Filings

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