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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Total revenues $ 170,215 $ 108,893 $ 316,114 $ 193,310
Costs and expenses        
Selling, general and administrative expenses 14,740 11,384 28,834 21,011
Total costs and expenses 125,974 91,579 240,883 164,361
Income from operations 44,241 17,314 75,231 28,949
Interest income (expense), net 304 (181) 204 (333)
Other expense, net 0 (1,004) (1,115) (1,410)
Income before income taxes 44,545 16,129 74,320 27,206
Income tax expense (benefit) 8,765 1,355 11,457 (2,704)
Net income 35,780 14,774 62,863 29,910
Less: net income attributable to non-controlling interest 8,636 4,381 15,103 7,958
Net income attributable to Cactus Inc. $ 27,144 $ 10,393 $ 47,760 $ 21,952
Class A Common Stock        
Earnings per share and weighted average shares outstanding        
Earnings per Class A share - basic (in dollars per share) $ 0.45 $ 0.19 $ 0.80 $ 0.42
Earnings per Class A share - diluted (in dollars per share) $ 0.44 $ 0.18 $ 0.78 $ 0.37
Weighted average Class A shares outstanding - basic (in shares) 60,523 55,048 59,909 52,124
Weighted average Class A shares outstanding - diluted (in shares) 76,322 75,997 76,262 75,955
Product revenue        
Revenues        
Total revenues $ 112,232 $ 70,345 $ 206,272 $ 122,301
Costs and expenses        
Cost of revenue 69,172 48,100 130,092 84,621
Rental revenue        
Revenues        
Total revenues 23,695 14,644 46,038 27,133
Costs and expenses        
Cost of revenue 15,328 14,403 30,417 26,574
Field service and other revenue        
Revenues        
Total revenues 34,288 23,904 63,804 43,876
Costs and expenses        
Cost of revenue $ 26,734 $ 17,692 $ 51,540 $ 32,155