Smart Sand, Inc. (NASDAQ: SND)

Smart Sand, Inc. is a fully integrated frac and industrial sand supply and services company that produces Northern White sand for hydraulic fracturing proppant and industrial applications and provides logistics solutions through in-basin transloading terminals and its SmartSystems wellsite storage and handling equipment.

The company generates revenue by selling sand under short‑term and long‑term contracts or spot sales, offering proppant logistics services via its transloading terminals and SmartSystems equipment, and selling industrial sand products for sectors such as glass, foundry, building products, filtration, geothermal, renewables, ceramics, turf, landscape, retail and recreation to oil and gas exploration and production companies, oilfield service companies and diversified industrial customers.

The company operates through the following segments: Sand Segment and SmartSystems Segment.

• Sand Segment: This segment mines, processes and sells Northern White sand from facilities in Oakdale, Wisconsin; Ottawa, Illinois; and Blair, Wisconsin, with combined annual processing capacity of approximately 10.0 million tons, and provides sand through contracts or spot sales while operating a network of in‑basin rail transloading terminals in the Bakken, Appalachian and other basins.

• SmartSystems Segment: This segment provides wellsite proppant handling solutions, including the SmartDepot and SmartDepotXL silo systems, SmartBelt conveyor, SmartPath management system and rapid‑deployment trailers, which enable customers to unload, store and deliver sand at the wellsite, reduce trucking and improve safety and efficiency.

Smart Sand holds a strong position in the frac sand industry due to its low‑cost production, access to all Class I rail lines in the United States and Canada, high‑quality reserves with long mine lives, and proprietary SmartSystems that differentiate it from competitors such as Badger Mining Corporation, Iron Oak Energy Solutions, U. S. Silica Holdings, Capital Sand Company, Source Energy Services and Solaris Energy Infrastructure.

The company’s customer base includes major oil and gas producers and service firms such as EQT Corporation, EOG Resources, Encino Energy and Liberty Oilfield Services, along with numerous other exploration and production companies, oilfield service providers and industrial customers across various sectors.