AESI on NYSE
Atlas Energy Solutions Inc.
Price unavailable
Last updated Oct 16, 2026.
Overview
Compare with BKV Corp, MACH NATURAL RESOURCES LP or Kosmos Energy, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
13.8%Gross margin3
-1.0%Operating margin3
-4.6%Net margin3
3.7%Revenue growth, 20253
-4.2%Return on equity3
0.45×Debt to equity3
-$30.9MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Service brought in 50% of the revenue Atlas Energy Solutions Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Service | $145.8M | $540.5M | $558.8M |
| Product | $468.1M | $515.4M | $478.0M |
| Rental Revenue | $0 | $0 | $58.6M |
| Shortfall Revenues | $0 | $13.1M | $23.9M |
Business segments
Sand & Logistics brought in 95% of the revenue Atlas Energy Solutions Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Sand & Logistics | $614.0M | $1.1B | $1.0B |
| Power | $0 | $0 | $58.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin13¢$138.8M
- Other costs86¢$938.6M
- Income tax2¢$17.9M
Out of $1.1B in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$148.3M
- Share buybacks0¢$200.0K
Out of $117.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $1.1B | $1.1B | $614.0M |
| Cost of sales (excluding depreciation, depletion and accretion expense) | $784.5M | $725.2M | $260.4M |
| Depreciation, depletion and accretion expense | $160.1M | $98.7M | $39.8M |
| Gross profit | $150.7M | $232.0M | $313.8M |
| Selling, general and administrative expense (including stock and unit-based compensation expense of $33,227, $22,381, and $7,409, respectively) | $138.8M | $106.2M | $48.6M |
| Credit loss expense | $4.8M | $25.0K | $28.0K |
| Amortization expense of acquired intangible assets | $23.5M | $12.3M | $0 |
| Change in fair value of contingent consideration | -$3.4M | $0 | $0 |
| Loss on disposal of assets | $0 | $19.7M | $0 |
| Insurance recovery (gain) | -$2.2M | -$20.1M | $0 |
| Operating income (loss) | -$10.9M | $113.9M | $265.1M |
| Interest (expense), net | -$58.0M | -$38.6M | -$7.7M |
| Other income, net | $727.0K | $551.0K | $430.0K |
| Income (loss) before income taxes | -$68.2M | $75.8M | $257.9M |
| Income tax expense (benefit) | -$17.9M | $15.8M | $31.4M |
| Net income (loss) | -$50.3M | $59.9M | $226.5M |
| Less: Pre-IPO net income attributable to Atlas Sand Company, LLC | $54.6M | ||
| Less: Net income attributable to redeemable noncontrolling interest | $66.5M | ||
| Net income (loss) attributable to Atlas Energy Solutions, Inc. | -$50.3M | $59.9M | $105.4M |
| Net income (loss) per common share, Basic | -$0.41 | $0.55 | $1.50 |
| Net income (loss) per common share, Diluted | -$0.41 | $0.55 | $1.48 |
| Weighted average common shares outstanding, Basic | 122.4M shares | 108.2M shares | 70.5M shares |
| Weighted average common shares outstanding, Diluted | 122.4M shares | 109.2M shares | 71.0M shares |
| Stock and unit-based compensation expense | $33.2M | $22.4M | $7.4M |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $40.6M | $71.7M | |
| Accounts receivable, net | $180.7M | $166.0M | |
| Inventories | $13.6M | $17.3M | |
| Spare part inventories, net | $48.1M | $23.2M | |
| Prepaid expenses and other current assets | $24.4M | $11.2M | |
| Total current assets | $307.5M | $289.4M | |
| Property, plant and equipment, net | $1.5B | $1.5B | |
| Operating lease right-of-use assets | $10.7M | $13.6M | |
| Finance lease right-of-use assets | $33.1M | $5.0M | |
| Goodwill | $152.9M | $69.0M | $0 |
| Intangible assets, net | $182.2M | $105.9M | |
| Other long-term assets | $1.2M | $3.5M | |
| Total assets | $2.2B | $2.0B | |
| Accounts payable | $69.2M | $119.0M | |
| Accrued liabilities | $84.6M | $60.3M | |
| Current portion of long-term debt | $40.7M | $43.7M | |
| Current portion of operating lease liabilities | $347.0K | $6.6M | |
| Current portion of finance lease liabilities | $6.4M | $2.8M | |
| Current portion of deferred revenue | $1.4M | $7.8M | |
| Other current liabilities | $8.4M | $2.6M | |
| Total current liabilities | $211.1M | $243.1M | |
| Long-term debt, net of discount and deferred financing costs | $538.2M | $467.0M | |
| Deferred tax liabilities | $221.6M | $206.9M | |
| Operating lease liabilities | $11.1M | $7.5M | |
| Finance lease liabilities | $25.0M | $2.5M | |
| Asset retirement obligation | $6.9M | $7.0M | |
| Other long-term liabilities | $5.5M | $2.2M | |
| Total liabilities | $1.0B | $936.1M | |
| Preferred stock, $0.01 par value; 500,000,000 authorized; no shares issued and outstanding as of December 31, 2025 and 2024. | $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. | $1.2M | $1.1M | |
| Additional paid-in-capital | $1.3B | $1.0B | |
| Accumulated deficit | -$50.3M | $0 | |
| Total stockholders' equity | $1.2B | $1.0B | |
| Total liabilities and stockholders' equity | $2.2B | $2.0B | |
| Preferred stock, par value | $0.01 | $0.01 | |
| Preferred stock, shares authorized | 500.0M shares | 500.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.01 | $0.01 | |
| Common stock, shares authorized | 1.5B shares | 1.5B shares | |
| Common stock, shares issued | 124.1M shares | 110.2M shares | |
| Common stock, shares outstanding | 124.1M shares | 110.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$50.3M | $59.9M | $226.5M |
| Depreciation, depletion and accretion expense | $165.5M | $102.2M | $41.6M |
| Amortization expense of acquired intangible assets | $23.5M | $12.3M | $0 |
| Amortization of debt discount | $5.7M | $3.6M | $761.0K |
| Amortization of deferred financing costs | $403.0K | $435.0K | $337.0K |
| Change in fair value of contingent consideration | -$3.4M | $0 | $0 |
| Loss on disposal of assets | $0 | $19.7M | $0 |
| Stock and unit-based compensation | $33.2M | $22.4M | $7.4M |
| Deferred income tax | -$17.5M | $15.0M | $29.2M |
| Credit loss expense | $4.8M | $25.0K | $28.0K |
| Other | $2.2M | -$1.6M | $111.0K |
| Accounts receivable | -$10.8M | -$13.1M | $2.2M |
| Accounts receivable - related party | -$72.0K | $0 | $868.0K |
| Inventories | $3.7M | -$6.6M | -$835.0K |
| Spare part inventories | -$15.5M | -$4.7M | -$4.6M |
| Prepaid expenses and other current assets | -$14.7M | $6.5M | -$10.0M |
| Other long-term assets | $2.2M | -$644.0K | -$1.4M |
| Accounts payable | -$25.1M | $22.9M | $5.2M |
| Accounts payable - related parties | -$204.0K | -$51.0K | $123.0K |
| Deferred revenue | -$7.3M | -$2.5M | $0 |
| Accrued liabilities and other liabilities | $21.0M | $20.8M | $1.6M |
| Net cash provided by operating activities | $117.3M | $256.5M | $299.0M |
| Purchases of property, plant and equipment | -$148.3M | -$374.0M | -$365.5M |
| Acquisitions, net of cash acquired | -$204.2M | -$153.4M | $0 |
| Proceeds from insurance recovery | $7.6M | $14.7M | $0 |
| Net cash used in investing activities | -$344.8M | -$512.7M | -$365.5M |
| Proceeds from equity offering, net of issuance costs | $253.1M | $0 | $0 |
| Proceeds from term loan borrowing | $186.8M | $168.5M | $0 |
| Proceeds from ABL credit facility | $50.0M | $70.0M | $0 |
| Principal payments on term loan borrowings | -$17.5M | -$14.4M | -$16.6M |
| Payment on ABL credit facility | -$70.0M | $0 | |
| Payment on Deferred Cash Consideration Note | -$101.3M | $0 | $0 |
| Issuance costs associated with debt financing | -$281.0K | -$1.2M | -$4.4M |
| Payments under finance leases | -$4.0M | -$2.6M | -$2.0M |
| Repayment of equipment finance notes | -$5.5M | -$3.6M | $0 |
| Dividends and distributions | -$92.3M | -$96.9M | -$62.2M |
| Taxes withheld on vesting RSUs | -$2.5M | -$2.1M | $0 |
| Repurchases of Common Stock under share repurchase program | -$200.0K | $0 | $0 |
| Net proceeds from IPO | $0 | $0 | $303.4M |
| Payment of offering costs | $0 | $0 | -$6.0M |
| Member distributions prior to IPO | $0 | $0 | -$15.0M |
| Prepayment fee on 2021 Term Loan Credit Facility | $0 | $0 | -$2.6M |
| Net cash provided by financing activities | $196.4M | $117.8M | $194.6M |
| Net increase (decrease) in cash and cash equivalents | -$31.1M | -$138.5M | $128.2M |
| Interest | $48.8M | $38.5M | $15.2M |
| Taxes (net of refunds) | $914.0K | $2.3M | $11.4M |
| Property, plant and equipment in accounts payable and accrued liabilities | $8.4M | $37.3M | $44.4M |
| Acquisition consideration, equity issuance | $33.9M | $189.1M | $0 |
| Contingent consideration | $1.9M | $0 | $0 |
| Equipment assets acquired through debt | $19.8M | $5.5M | $0 |
| Hi-Crush acquisition consideration, Deferred Cash Consideration Note | $0 | $106.6M | $0 |
| Redeemable noncontrolling interest cumulative adjustment to redemption value | $0 | $0 | $185.4M |
| Finance lease assets acquired through debt | $0 | $0 | $39.5M |
| Finance lease liabilities converted to debt | $0 | $0 | $42.8M |
Former names
- New Atlas HoldCo Inc.Aug 1, 2023 to Oct 3, 20232
Recent filings
- Oct 7, 20264
- Sep 25, 20268-K
- Sep 24, 20268-K
- Aug 14, 2026SCHEDULE 13G/A
- Aug 5, 202610-Q
- Aug 3, 20268-K
- Jun 3, 20264
- Jun 3, 20264
- May 20, 20264
- May 15, 2026SCHEDULE 13G/A
- May 13, 2026S-8
- May 8, 20268-K
- May 5, 202610-Q
- May 4, 20268-K
- Apr 21, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8