ProFrac Q2 2025 Earnings Report

ProFrac EPS Results

• Actual EPS: -$0.67
• Consensus EPS: -$0.29
• Beat/Miss: Missed by -$0.38
• One Year Ago EPS: N/A

ProFrac Revenue Results

• Actual Revenue: $501.90 million
• Expected Revenue: $532.93 million
• Beat/Miss: Missed by -$31.03 million
• YoY Revenue Growth: N/A

ProFrac Announcement Details

• Quarter: Q2 2025
• Date: 8/7/2025
• Time: Before Market Opens
• Conference Call Date: Thursday, August 7, 2025
• Conference Call Time: 11:00AM ET

ProFrac (NASDAQ:ACDC) operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends. ProFrac Holding Corp. was founded in 2016 and is headquartered in Willow Park, Texas.

ProFrac Q2 2025 Earnings Call Transcript

Key Takeaways

• Neutral Sentiment: The company reported Q2 revenues of approximately $502 million, an adjusted EBITDA of $79 million, and free cash flow of $54 million, largely in line with the outlook despite industry headwinds.
• Neutral Sentiment: A sharp commodity price decline in early Q2 led to reduced activity, but market conditions modestly improved by quarter-end with crews returning to work and increased customer planning for 2026 programs.
• Positive Sentiment: Vertically integrated manufacturing and an enhanced asset management platform drove record fleet efficiency, lower maintenance costs, and, together with ProPilot 2.0 automation, improved pumping performance and reliability.
• Positive Sentiment: The innovative partnership with Flotek spun out sophisticated gas conditioning assets, granting ProFrac over 60 % pro forma equity in Flotek and positioning it in a multibillion-dollar gas quality management market.
• Positive Sentiment: A disciplined capital allocation approach reduced full-year CapEx guidance to $175–225 million, led to debt repayments and new senior note issuances, and added roughly $90 million in incremental liquidity to bolster financial flexibility.

Presentation

[Operator]

Greetings and welcome to the Profact 2Q twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michael Messina, Director of Finance. Thank you, sir. You may begin.

[Michael Messina, Director - Finance at ProFrac]

Thank you, operator. Good morning, everyone. Thank you for joining us for Profrac Holding Corp's conference call and webcast to review our results for the second quarter ended 06/30/2025. With me today are Matt Wilkes, Executive Chairman Matt Wilkes, Chief Executive Officer and Austin Harbour, Chief Financial Officer. Following my remarks, management will provide high level commentary on the operational and financial highlights of the quarter before opening up the call to your questions.

[Michael Messina, Director - Finance at ProFrac]

A replay of today's call will be made available by webcast on the company's website at pfholdingscorp.com. More information on how to access the replay is included in the company's earnings release. Please note that information reported on this call speaks only as of today, 08/07/2025, and therefore you are advised that any time sensitive information may no longer be accurate at the time of any subsequent replay listening or transcript reading. Also comments on this call may contain forward looking statements within the meaning of The United States federal securities laws, including management's expectations of future financial and business performance. These forward looking statements reflect the current views of Profrax management and are not guarantees of future performance.

[Michael Messina, Director - Finance at ProFrac]

Various risks, uncertainties and contingencies could cause actual results, performance or achievements to differ materially from those expressed in management's forward looking statements. The listener or reader is encouraged to read ProPractice's Form 10 ks and other filings with the Securities and Exchange Commission, which can be found at sec.gov or on the company's Investor Relations website section under the SEC Filings tab to understand those risks, uncertainties and contingencies. The comments today also include certain non GAAP financial measures, as well as other adjusted figures to exclude the contribution of Flotek. Additional details and reconciliations to the most directly comparable consolidated and GAAP financial measures are included in the quarterly earnings press release, which can be found at sec.gov and on the company's website. And now I would like to turn the call over to ProPrac's Executive Chairman, Mr. Matt Wilkes.

[Matthew Wilks, Executive Chairman at ProFrac]

Thank you, Michael, and good morning to all. I'll begin with brief remarks, then turn it over to Lad to elaborate on segment performance and key trends, and Austin will run through our second quarter financials. Q2 performance unfolded largely as anticipated based on the outlook we provided during our May earnings call. As we discussed, the market dynamics that emerged early in the quarter, particularly the sharp decline in commodity prices in early April, led operators across our customer base to reassess their near term completion requirements with several adjusting their activity levels to varying degrees. That said, we are encouraged to see the market that market conditions have modestly improved compared to our Q2 exit level.

[Matthew Wilks, Executive Chairman at ProFrac]

Commodity prices have firmed since early Q2. Some crews have gone back to work, and we are having healthy dialogue with our customers around 2026 planning. This aligns with our previous observation that operators who reduced activity maintain the flexibility to quickly resume operations when conditions improve. Importantly, we continue to believe that today's hydraulic fracturing market dynamics create a compelling setup for the future, with industry participants exercising capital discipline in response to current economic conditions and uncertainty. We see the potential for meaningful tightening in supply demand should drilling and completion activity accelerate in response to improved commodity fundamentals in 2026.

[Matthew Wilks, Executive Chairman at ProFrac]

Turning to our core competitive advantages. The controllable factors that truly set us apart in the marketplace. Our vertically integrated manufacturing capabilities, combined with our sophisticated asset management platform, represent fundamental differentiators that provide both strategic agility and tangible financial value. Our asset management program is generating exceptional results. The strategic deployment of our six fleets under this program delivered our most efficient operational quarter on record in Q1 in terms of fleet efficiency and total maintenance costs.

[Matthew Wilks, Executive Chairman at ProFrac]

This integrated approach proved particularly valuable during recent market volatility with our ability to dynamically redeploy assets and adjust maintenance schedules, providing crucial operational flexibility. Despite the fact that demands on our equipment have significantly grown over time, our asset reliability and pumping performance are the most efficient they've ever been, enabling us to extend up time on our equipment and reduce overall failures. We believe this is directly attributable to our best in class personnel in addition to our asset management and frac automation, both of which were internally conceptualized, designed, developed, and successfully implemented. Our in house manufacturing platform delivers substantial cost advantages, enabling us to build new fleets, upgrade legacy equipment to next generation specifications, and standardize previously acquired assets, all at cost below third party alternatives. This internal capability spans a significant portion of our equipment portfolio, providing control over standards for quality, uniformity, and deployment timelines.

[Matthew Wilks, Executive Chairman at ProFrac]

However, our competitive moat extends well beyond repair and maintenance and manufacturing. Our technology leadership continues to drive measurable operational improvements and sustainable competitive advantages. Our ProPilot platform exemplifies this commitment, delivering transformational improvements in automated fracturing operations. In the early days of ProPilot one point zero, the platform immediately provided significant operational benefits in frac automation, namely by enabling automated pump control and frac scheduling. With automated pump control functionality, we were able to quickly reduce the manual inputs required to complete the well, enhancing decision making and allowing for faster stage completions.

[Matthew Wilks, Executive Chairman at ProFrac]

The frac scheduler functionality was also an early game changer for the platform, integrating completion designs into the automation software to ensure stages are consistently completed to the design. But we didn't stop there and are excited about the further evolution of the ProPilot platform to its next phase, ProPilot two point zero. With two point zero, a number of new functionalities have improved the platform to enhance completion automation frac operations, including horsepower optimization, dual fuel optimization, interlocking load balancing, and one click fully automated stage completions. In summary, the expanded functionality of ProPilot two point zero drives productivity higher by automatically maintaining pumps at peak performance and efficiency, while also minimizing wear and tear on equipment. It can automatically optimize fuel economy, that's total fuel and gas substitution rates.

[Matthew Wilks, Executive Chairman at ProFrac]

2.0's automated load balancing system monitors pump health in real time, detects anomalies, delivers and executes proactive recommendations to maintain steady performance, and prevents rate fluctuations. Combined, these functionalities enable fully automated frac operations, eliminating the guesswork associated with diagnosing equipment and well feedback issues. The benefits of ProPilot two point zero are tangible, measurable, and benefit both ProPrac and our customers. New and exciting expansions of the platform and ProPilot utility are also underway, which we plan to roll out in the near future. Simply put, intelligent automation delivers both speed and operational simplicity while driving superior well results, enhanced cost control, increased uptime, and greater reliability.

[Matthew Wilks, Executive Chairman at ProFrac]

Our innovation pipeline runs deep. Our IoTeX platform transforms operational intelligence by consolidating multisource data streams for real time edge decisions while enabling cloud based analytics and machine learning capabilities. This integration opt optimizes data utilization, streamlines workflows, and drives cost reductions across our entire operation. Further, through Flotek, the JP3 technology continues its expansion, with Varex analyzers attracting strong interest across market segments, from independent producers to multinational corporations with global refinery operations. We believe our ability to develop, test and deploy advanced technologies in house at a fraction of third party costs and on accelerated timelines, provides us with a decisive competitive edge.

[Matthew Wilks, Executive Chairman at ProFrac]

Turning to crop net production, we see opportunities for growth and improved performance across our key operating regions. We maintain a strong market position in the Haynesville region, where we offer dry and damp sand, and anticipate that increased natural gas activity will drive improved performance. In addition, our ongoing throughput improvements in South Texas position us well to meet potential demand growth. Moving to our strategic initiatives and other differentiating value creators. During the second quarter, we entered into an innovative partnership with Flowtech Industries.

[Matthew Wilks, Executive Chairman at ProFrac]

This transaction represents far more than a simple asset sale. By transferring what was essentially a cost center within ProFrac to Flotek, where these assets can be leveraged across a much broader market, we believe we have unlocked significant value that the market simply didn't recognize within our structure. These assets, which include patented gas monitoring and conditioning technology, formed the foundation of Flotek's new PowerTech division. We received immediate financial benefits, including over 60% of the pro form a fully diluted equity ownership Industries. This gives us substantial exposure to a company that is levered to what we believe is a 3 to $6,000,000,000 global addressable market for gas quality management, spending oil and gas, data centers, refineries, and other natural gas applications.

[Matthew Wilks, Executive Chairman at ProFrac]

This partnership transforms assets that were previously limited to our internal operations into a scalable third party business model that can serve the broader energy infrastructure market. It's a perfect example of how we're thinking creatively about capital allocation and value creation for our shareholders. Finally, I wanna touch on our power generation strategy, which positions us uniquely in the rapidly expanding data center and power infrastructure market. Unlike traditional equipment rental models, our approach focuses on bespoke holistic power land opportunities that leverage our core competencies in in project execution and infrastructure development. Our competitive advantage centers on our ability to accelerate access to electrons at scale.

[Matthew Wilks, Executive Chairman at ProFrac]

Vlad will provide more color on this as well as the other things I just touched on. In Q2, we generated revenues of $5.00 $2,000,000 adjusted EBITDA of $79,000,000 and free cash flow of $54,000,000 This compares with revenues of $600,000,000 and adjusted EBITDA of $130,000,000 and free cash flow of negative $14,000,000 in Q1. While these results are a product of the market headwinds we experienced, They also reflect our ability to maintain operational excellence and generate meaningful free cash flow despite challenging conditions. In summary, Q2 results, generating $54,000,000 of free cash flow, largely aligned with our May outlook as activity was negatively impacted by both macroeconomic and commodity price volatility. Recent signs are encouraging as crews have returned to work and customer dialogue around future planning for 2026 intensifies.

[Matthew Wilks, Executive Chairman at ProFrac]

We delivered strong operational performance through strategic asset allocation with our vertically integrated manufacturing capabilities and sophisticated asset management platform providing crucial flexibility during periods of market volatility. Our technology leadership continues to deliver measurable competitive advantages with our ProPilot platform driving breakthrough advances in frac automation. Our innovative partnership with Flotek unlocked immediate value while positioning us with significant ownership in a company levered to a multibillion dollar global addressable market for gas quality management and asset integrity solutions. We continue to see opportunities in proppant production, in particular, in the Haynesville region where we expect increased natural gas activity to drive improved performance. Further, strategic investments position us well for the South Texas demand.

[Matthew Wilks, Executive Chairman at ProFrac]

And finally, we maintain our disciplined approach to capital allocation while positioning ourselves for potential tightening in the market in early twenty twenty six. Vlad, over to you.

[Ladd Wilks, CEO at ProFrac]

Thanks, Matt, and good morning, everyone. I'll provide a more granular detail on several things Matt touched on, starting with our operational performance during the quarter. In stimulation services, we experienced the market dynamics Matt described with increased white space on the calendar following the early quarter oil price decline and activity levels decreasing in the Q2 end. We responded through our flexible fleet deployment capabilities and implemented cost reduction measures beginning in mid May, though the full benefit didn't flow through until later in the period due to timing lags.

[Ladd Wilks, CEO at ProFrac]

The cost reduction process was impacted by some operational inefficiencies, including extended delays between pads that required us to maintain labor, equipment rentals and other semi variable costs, limiting our ability to achieve immediate savings. Consistent with Matt's observations regarding the current market, our active fleet count stabilized near the end of the second quarter and into early Q3, and we've seen modest improvement in activity since then. We've been purposely selective in deploying the fleets in this environment with an emphasis on taking advantage of our vertical integrated solutions. Further, we're being prudent with spending and capital allocation amidst the current environment while retaining flexibility to respond to an increased call on activity. As Matt mentioned, activity can rebound just as rapidly as it slowed.

[Ladd Wilks, CEO at ProFrac]

We are well positioned to respond and encouraged by conversations we're having regarding 2026. Turning to our proppant production segment, we saw volumes decline during the second quarter into June. We anticipate volumes to remain relatively stable in the third quarter from our June run rate, while realized cost savings helping to offset the expected decline in revenues in the third quarter. As we've spoken about in the past, the operating leverage inherent in our proppant business becomes increasingly evident as we drive higher utilization rates, and we expect this segment to be a meaningful contributor to our overall performance as activity recovers. We anticipate increased demand next year in the Haynesville, and we are very well positioned with as much as 13,000,000 tons of damp sand capacity or 8,000,000 tons of dry sand capacity.

[Ladd Wilks, CEO at ProFrac]

Meanwhile, building on Matt's comments about our South Texas asset, initiatives to increase throughput are underway. I'm deeply grateful to our team across all our businesses for their dedication, persistence and excellent work, which enable us to deliver a strong performance. Jumping into our various differentiators, I'd like to start by highlighting continued progress with our asset management program, which remained a key driver of our operational improvements and capital efficiency initiatives. This program is fundamentally designed around maintaining firm cost control, maximizing utilization and efficiencies and rapidly deploying high quality fleets. We are seeing tangible results from our improved coordination across maintenance facilities.

[Ladd Wilks, CEO at ProFrac]

This enhanced coordination has enabled better inventory management and standardized repair practices, directly contributing to faster turnaround times and reduced waste. Since implementing our asset management platform, we've achieved a steady increase in pumping hours on our fleet, while at the same time, a reduction in equipment failures and non productive time. As Matt mentioned, asset management is also responsible for our improved ability to rapidly activate incremental high quality fleet. This allows us to remain nimble to capture emerging opportunities in the market. In Q1, we activated five fleets and so far in Q3, we've activated three fleets.

[Ladd Wilks, CEO at ProFrac]

The financial impact is clear and we expect to continue reducing total maintenance costs per pump hour as we build on these operational improvements. Regarding our Flotek partnership, I'd like to provide some additional operational context on the significant transaction and its implications for our business. The assets consist of 30 highly sophisticated mobile units, 15 gas filtration and conditioning units paired with 15 gas distribution units. Each pairing can support one electric fleet or equivalent operation. These aren't just standard equipment.

[Ladd Wilks, CEO at ProFrac]

They incorporate patented real time BTU monitoring technology that automatically manages off spec gas, preventing catastrophic equipment shutdowns while maintaining operational continuity. What makes this technology particularly valuable is its versatility. While we develop the use case specifically for our frac operations, the applications extend far beyond our industry to midstream operations, compressor stations, data centers, refineries, and essentially any industry that consumes or works with natural gas. As Matt noted, keeping these assets within ProFrac limited their potential value. By placing these assets with Flotek, we've highlighted a pure play technology platform that can scale across multiple end markets.

[Ladd Wilks, CEO at ProFrac]

The transaction structure provides us with multiple benefits, namely meaningful potential upsides or over 60% pro form a fully diluted ownership in Flotek equity. Now let me take a moment to overview our differentiated power generation strategy and elaborate on the operational aspects of this initiative. While the equipment rental model is viable, we believe it does not fully take advantage of our expertise and existing partnerships. We are primarily targeting real property with redundant infrastructure specifically for the data center market. Our view is that the technology and solutions developed on the completions industry carry over well for solving many of the issues that are currently presented by the meaningful demand of power assets.

[Ladd Wilks, CEO at ProFrac]

This strategic focus should enable us to generate revenues that are decoupled from the volatility of the completions industry. Our power generation strategy creates synergy opportunities through collaboration between our mobile power generation solutions and the acceleration of power delivery at target sites. With various opportunities in front of us, we hope to be in a position to further update you in the future. Finally, on capital allocation, we're executing effectively on Earth's flexible approach. Last quarter, we identified approximately 70,000,000 to $100,000,000 in potential CapEx reductions enabled by our disciplined approach to asset management while aligning with evolving market conditions.

[Ladd Wilks, CEO at ProFrac]

We're pleased to report we're trending in line with our previously cited reductions. We now expect capital expenditures to be between $175,000,000 and $225,000,000 for 2025. I'll now hand the call over to Austin to cover our financial results in more detail.

[Austin Harbour, CFO at ProFrac]

Thanks, Vlad. In the second quarter, revenues were $5.00 $2,000,000 compared to $600,000,000 in the first quarter. We generated $79,000,000 of adjusted EBITDA with an adjusted EBITDA margin of 16% compared to $130,000,000 in the first quarter or 22% of revenue. Importantly, free cash flow was $54,000,000 in the second quarter versus negative $14,000,000 in the first quarter. As mentioned earlier, we took actions to right size costs in response to market conditions.

[Austin Harbour, CFO at ProFrac]

However, the timing of the activity slowdown mitigated the full impact of our initiatives until later in the second quarter. Turning to our segments, stimulation services revenues declined to $432,000,000 in the second quarter from $525,000,000 in the first quarter, primarily due to a reduced fleet count and increased white space. Adjusted EBITDA fell to $51,000,000 from $105,000,000 in Q1 with margins of 12% versus 20% in the prior quarter. This decline reflects inefficiencies stemming from customers moderating their activity levels as they reassess their operational plans, resulting in a delay in reducing operating costs until later in the quarter. Additionally, this segment incurred approximately $8,000,000 in shortfall expenses related to our supply agreement with Flotek consistent with the previous quarter.

[Austin Harbour, CFO at ProFrac]

Our proppant production segment generated $78,000,000 of revenues in the second quarter, up from $67,000,000 in Q1. The increase was primarily attributable to an increase in delivered sand sales, which more than offset the impact of lower volumes. Approximately 48% of volumes were sold to third party customers during the second quarter versus 63% in Q1. Adjusted EBITDA for the proppant production segment was $15,000,000 for the second quarter versus $18,000,000 in Q1. EBITDA margins came in at 19% in the second quarter versus versus 27% in Q1, with the decline largely reflecting the lower volumes and the impact of the large step up in intercompany sales.

[Austin Harbour, CFO at ProFrac]

We're actively investing to enhance mine productivity and optimize our sourcing mix to improve these dynamics going forward. Our Manufacturing segment generated second quarter revenues of $56,000,000 versus $66,000,000 in Q1. Approximately 78% of segment revenues were generated via intercompany sales compared with 87% in Q1. The nearly $4,000,000 sequential increase in external sales drove an adjusted EBITDA improvement of more than $3,000,000 Selling, general and administrative expenses were $51,000,000 in the second quarter, improved from $54,000,000 in the first quarter as we remain focused on cost controls. Cash capital expenditures decreased to $47,000,000 in the second quarter from $53,000,000 in the first quarter, totaling $99,000,000 for the 2025.

[Austin Harbour, CFO at ProFrac]

With efficient capital allocation driven by our asset management platform, we're revising our annual CapEx guidance down to 175,000,000 to $225,000,000 Our revised guidance is in line with our initial estimate of $70,000,000 to $100,000,000 in capital expenditure reductions for 2025. Second quarter spending primarily encompassed maintenance on our fleets, continued upgrades and expansion at Alpine designed to increase quality and throughput at the mines. While these savings partly reflect lower activity levels versus our outlook earlier in the year, they also demonstrate the real progress of our asset management program. This program is delivering tangible savings while enhancing operational quality. Total cash and cash equivalents as of 06/30/2025 were approximately $26,000,000 including approximately $5,000,000 attributable to Flotek.

[Austin Harbour, CFO at ProFrac]

Total liquidity at quarter end was approximately 108,000,000 including $87,000,000 available under the ABL. Borrowings under the ABL credit facility ended the quarter at $164,000,000 an improvement of $41,000,000 from March 31. At June 30, we had approximately $1,110,000,000 of debt outstanding with the majority not due until 2029. We repaid approximately $29,000,000 of long term debt in the second quarter and intend to continue to use free cash flow in future periods to deleverage. Late in the second quarter, we took several strategic steps to enhance our liquidity position and financial flexibility.

[Austin Harbour, CFO at ProFrac]

We successfully executed a series of transactions that are expected to provide approximately 90,000,000 in incremental liquidity through 2025. These actions included the issuance of $20,000,000 in additional twenty twenty nine senior notes during the second quarter, with commitments for two additional $20,000,000 issuances at the company's option in the third and fourth quarters, respectively, for a total of $60,000,000 The initial issuance was purchased by our long term partners, the Wilkes family affiliates, demonstrating their continued confidence in our business. We also amended our Alpine term loan agreement, resulting in a $30,000,000 reduction in our quarterly amortization payments for 2025. Additionally, we successfully negotiated the deferral of the total net leverage ratio test on the Alpine term loan to the 2027, providing us with enhanced flexibility to navigate current market conditions. These proactive measures strengthen our balance sheet and provide us with additional financial resources to execute our business strategy, while maintaining our focus on disciplined capital allocation.

[Austin Harbour, CFO at ProFrac]

Lastly, on the Flotek transaction, we conveyed our mobile gas conditioning units and six year lease in exchange for warrants on 6,000,000 Flotek shares, offset mechanisms for order shortfall payments under our chemical supply agreement and issued a $40,000,000 five year seller note at 10%. This transaction strengthened our strategic partnership while providing meaningful financial benefits. Our 60% plus pro form a fully diluted ownership in Flotek has resulted in material incremental value subsequent to the transaction closing in late April. In closing, we are excited to report robust free cash flow generation in the second quarter, coupled with a series of strategic initiatives that generated significant incremental value, including the Flotek transaction. Successful operational execution in the field and via our asset management platform, technological innovation in ProPilot and at IoTeck, and enhanced liquidity and financial flexibility via the new notes issuance and term loan amendment.

[Austin Harbour, CFO at ProFrac]

That concludes our prepared comments. Operator, please open the line for questions. Thank you.

[Operator]

Thank you. We will now conduct a question and answer session. The first question comes from John Daniel with Daniel Energy. Please proceed.

[John Daniel, Founder & CEO at Daniel Energy Partners]

Hey, good morning guys. Thank you for including me. Matt, I was in the about the increasing customer engagement around 2026. I'm sure I would assume nothing is set in stone, but I'm just curious, do you feel like the engagement is higher activity than where we are today? Or can you just elaborate a little bit more on what they're asking for?

[Matthew Wilks, Executive Chairman at ProFrac]

Yes, definitely. We're seeing a lot more engagement around the 2026 programs for operators. We saw a pretty sharp drop off after Liberation Day. And since then, a lot of the operators that have slowed activity have started coming back, looking at what they need to do to bring some of them back. Some of them have already come back.

[Matthew Wilks, Executive Chairman at ProFrac]

But as we look at the RFP season and planning for 2026, we're seeing an increase to current activity levels.

[John Daniel, Founder & CEO at Daniel Energy Partners]

Okay. And then just on the increased activity since the late June, early July trough, can you just give some context whether is that more gas directed or just folks in oil markets going back to work with the rebound in oil price? Just any color there would be helpful.

[Matthew Wilks, Executive Chairman at ProFrac]

Yes, it's really across gas and oil, but the Permian, not quite as much of an increase as what we're seeing on gas, but there is an uptick from, especially from the lows that we saw in June.

[John Daniel, Founder & CEO at Daniel Energy Partners]

Sure. Okay. That's all I had. Thanks for having me on.

[Matthew Wilks, Executive Chairman at ProFrac]

Definitely. Thank you.

[Operator]

Thank you. At this time, I would like to turn the call back to Matt Wiltz for closing comments.

[Matthew Wilks, Executive Chairman at ProFrac]

We're grateful for your time today. While Q2 reflected the market headwinds we discussed on our last call, our vertically integrated manufacturing capabilities, advanced asset management platform and technology leadership through initiatives such as ProPilot two point zero continue to differentiate us competitively. Our strategic Flotek partnership has unlocked value and is providing us with exposure to a multibillion dollar addressable market, and our disciplined capital allocation approach ensures we're well positioned for the supply and demand tightening we expect when activity accelerates. With healthy customer dialogues around 2026 planning, we remain confident in our ability to capitalize on improving conditions. We look forward to speaking with you again when we report our third quarter twenty twenty five results. Thank you.

[Operator]

Thank you. This does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation, and have a great day.

Participants

Executives

• Michael Messina, Director - Finance
• Matthew Wilks, Executive Chairman
• Ladd Wilks, CEO
• Austin Harbour, CFO

Analysts

• John Daniel, Founder & CEO at Daniel Energy Partners