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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 354,221 $ 123,571
Restricted cash 0 371,011
Accounts receivable, net of allowance of $4,897 and $4,494, respectively 506,342 164,493
Inventories 401,575 276,613
Prepaid expenses and other current assets 23,806 19,231
Total current assets 1,285,944 954,919
Property and equipment, net 403,621 342,592
Operating lease right-of-use assets, net 30,761 19,491
Intangible assets, net 336,158 148,004
Goodwill 285,579 203,028
Deferred tax asset, net 200,015 187,545
Investment in unconsolidated affiliates 5,980 5,923
Other noncurrent assets 31,969 10,115
Total assets 2,580,027 1,871,617
Current liabilities    
Accounts payable 211,331 71,541
Accrued expenses and other current liabilities 104,209 51,388
Contract liabilities 66,545 7,707
Current portion of liability related to tax receivable agreement 21,314 21,314
Finance lease obligations, current portion 8,321 7,476
Operating lease liabilities, current portion 9,196 4,815
Total current liabilities 420,916 164,241
Deferred tax liability, net 14,432 2,786
Liability related to tax receivable agreement, net of current portion 251,568 241,609
Finance lease obligations, net of current portion 9,584 9,672
Operating lease liabilities, net of current portion 27,000 15,786
Other noncurrent liabilities 84,402 4,475
Total liabilities 807,902 438,569
Commitments and contingencies
Mezzanine equity    
Redeemable non-controlling interest 240,905 0
Stockholders’ equity    
Preferred stock, $0.01 par value, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 596,476 546,926
Retained earnings 712,323 680,353
Accumulated other comprehensive loss (581) (1,577)
Total stockholders’ equity attributable to Cactus Inc. 1,308,914 1,226,390
Non-controlling interest 222,306 206,658
Total stockholders’ equity 1,531,220 1,433,048
Total liabilities, mezzanine equity and stockholders' equity 2,580,027 1,871,617
Class A Common Stock    
Stockholders’ equity    
Common stock, $0.01 par value 696 688
Class B Common Stock    
Stockholders’ equity    
Common stock, $0.01 par value $ 0 $ 0