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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenues $ 263,954 $ 293,181 $ 817,848 $ 857,693
Costs and expenses        
Selling, general and administrative expenses 35,889 37,372 114,205 98,021
Change in fair value of earn-out liability 0 138 0 16,318
Total costs and expenses 202,720 216,389 627,197 638,532
Operating income 61,234 76,792 190,651 219,161
Interest income, net 2,977 2,062 7,820 4,156
Other income, net 221 0 221 0
Income before income taxes 64,432 78,854 198,692 223,317
Income tax expense 14,244 16,417 45,352 48,006
Net income 50,188 62,437 153,340 175,311
Less: net income attributable to non-controlling interest 8,564 12,510 27,164 36,591
Net income attributable to Cactus Inc. $ 41,624 $ 49,927 $ 126,176 $ 138,720
Class A Common Stock        
Earnings per share and weighted average shares outstanding        
Earnings per Class A share - basic (in dollars per share) $ 0.61 $ 0.75 $ 1.84 $ 2.10
Earnings per Class A share - diluted (in dollars per share) $ 0.60 $ 0.74 $ 1.83 $ 2.09
Weighted average Class A shares outstanding - basic (in shares) 68,681 66,563 68,465 66,030
Weighted average Class A shares outstanding - diluted (in shares) 69,196 80,190 68,877 79,777
Product revenue        
Revenues        
Total revenues $ 206,822 $ 221,406 $ 624,045 $ 649,818
Costs and expenses        
Cost of revenue 123,589 128,758 368,560 377,591
Rental revenue        
Revenues        
Total revenues 17,361 26,979 66,269 76,129
Costs and expenses        
Cost of revenue 10,839 14,346 37,336 40,986
Field service and other revenue        
Revenues        
Total revenues 39,771 44,796 127,534 131,746
Costs and expenses        
Cost of revenue $ 32,403 $ 35,775 $ 107,096 $ 105,616