Significant Asset Transactions
Completed two transactions in April, purchasing eight small passenger aircraft for $11.5 million and selling three infrastructure subsidiaries for $108.7 million, significantly enhancing financial results.
Positive Adjusted EBITDA
Generated positive adjusted EBITDA of $2.7 million in the first quarter compared to a negative $4.8 million in the fourth quarter of 2024.
Revenue Growth
Total revenue for the first quarter was $62.5 million, representing a 17% sequential increase over the fourth quarter of 2024.
Well Completions Revenue Increase
Well completions revenue increased to $20.9 million from $15.8 million in the fourth quarter of 2024, driven by increased utilization.
Strong Cash Position
As of May 2, 2025, after asset transactions, Mammoth had unrestricted cash on hand of $135.4 million and remained debt-free.