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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Total revenues $ 1,096,960 $ 688,369 $ 438,589
Costs and expenses      
Selling, general and administrative expenses 127,076 67,700 46,021
Change in fair value of earn-out liability 14,850 0 0
Total costs and expenses 832,594 513,621 363,162
Operating income 264,366 174,748 75,427
Interest income (expense), net (6,480) 3,714 (774)
Other income (expense), net 4,490 (1,910) 492
Income before income taxes 262,376 176,552 75,145
Income tax expense 47,536 31,430 7,675
Net income 214,840 145,122 67,470
Less: net income attributable to non-controlling interest 45,669 34,948 17,877
Net income attributable to Cactus Inc. $ 169,171 $ 110,174 $ 49,593
Class A Common Stock      
Earnings per share and weighted average shares outstanding      
Earnings per Class A share - basic (in dollars per share) $ 2.62 $ 1.83 $ 0.90
Earnings per Class A share - diluted (in dollars per share) $ 2.57 $ 1.80 $ 0.83
Weighted average Class A shares outstanding - basic (in shares) 64,641 60,323 55,398
Weighted average Class A shares outstanding - diluted (in shares) 79,460 76,337 76,107
Product revenue      
Revenues      
Total revenues $ 810,379 $ 452,615 $ 280,907
Costs and expenses      
Cost of revenue 490,149 277,871 189,083
Rental revenue      
Revenues      
Total revenues 113,631 100,453 61,629
Costs and expenses      
Cost of revenue 61,983 62,037 54,377
Field service and other revenue      
Revenues      
Total revenues 172,950 135,301 96,053
Costs and expenses      
Cost of revenue $ 138,536 $ 106,013 $ 73,681