ProFrac Holding Corp. — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
ProFrac reported Q2 2026 revenue of $498M (up from $450M in Q1), but net loss widened to $75M (vs. $81M in Q1). Adjusted EBITDA improved to $69M (14% margin) from $54M. Total debt stands at $1.10B with net debt of $1.08B and only $14M accessible cash (excluding Flotek). Effective August 7, 2026, CEO Ladd Wilks steps down to join the board; Executive Chairman Matt Wilks assumes combined CEO/Chairman role, replacing board member Sergei Krylov. Post-quarter, the company refinanced its $275M ABL to a new $300M facility with $71M remaining availability.
Why this rating
CEO transition is routine for small-cap; operationally Q2 shows modest sequential improvement offset by persistent losses and heavy debt burden ($1.08B net debt vs. $116M market cap = 9.3x). No material M&A, contract loss, or restatement. Refinancing maintains liquidity but doesn't resolve underlying profitability challenge.
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