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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 303,376 $ 133,792
Accounts receivable, net of allowance of $3,905 and $3,642, respectively 196,874 205,381
Inventories 219,799 205,625
Prepaid expenses and other current assets 10,152 11,380
Total current assets 730,201 556,178
Property and equipment, net 344,183 345,502
Operating lease right-of-use assets, net 23,589 23,496
Intangible assets, net 167,988 179,978
Goodwill 203,028 203,028
Deferred tax asset, net 203,778 204,852
Other noncurrent assets 8,956 9,527
Total assets 1,681,723 1,522,561
Current liabilities    
Accounts payable 74,897 71,841
Accrued expenses and other current liabilities 79,347 50,654
Earn-out liability 0 20,810
Current portion of liability related to tax receivable agreement 25,485 20,855
Finance lease obligations, current portion 7,121 7,280
Operating lease liabilities, current portion 4,451 4,220
Total current liabilities 191,301 175,660
Deferred tax liability, net 3,160 3,589
Liability related to tax receivable agreement, net of current portion 241,542 250,069
Finance lease obligations, net of current portion 10,620 9,352
Operating lease liabilities, net of current portion 19,414 19,121
Other noncurrent liabilities 3,406 0
Total liabilities 469,443 457,791
Commitments and contingencies
Stockholders’ equity    
Preferred stock, $0.01 par value, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 488,611 465,012
Retained earnings 514,481 400,682
Accumulated other comprehensive loss (739) (826)
Total stockholders’ equity attributable to Cactus Inc. 1,003,019 865,522
Non-controlling interest 209,261 199,248
Total stockholders’ equity 1,212,280 1,064,770
Total liabilities and equity 1,681,723 1,522,561
Class A Common Stock    
Stockholders’ equity    
Common stock, $0.01 par value 666 654
Class B Common Stock    
Stockholders’ equity    
Common stock, $0.01 par value $ 0 $ 0