v3.25.2

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenue
Total revenue	$ 364,215	$ 365,131	$ 738,599	$ 731,679
Costs of revenue
Depreciation, amortization and accretion	41,054	37,445	79,729	74,337
Total costs of revenue	306,462	304,975	625,076	618,846
Gross profit	57,753	60,156	113,523	112,833
Operating expenses
Selling, general and administrative	38,935	38,981	76,367	82,961
Depreciation and amortization	1,918	748	2,843	2,006
Impairments and abandonments	1,477	46	2,625	91
Lease abandonment costs	(2)	17	722	406
Total operating expenses	42,328	39,792	82,557	85,464
Income from operations	15,425	20,364	30,966	27,369
Other income (expense)
Gain on sales of property and equipment and divestitures, net	6,503	382	7,868	707
Interest expense, net	(5,645)	(2,026)	(10,521)	(3,298)
Other	92	42	421	(240)
Income before income tax expense and equity in earnings (losses) of unconsolidated entities	16,375	18,762	28,734	24,538
Income tax expense	(4,521)	(3,959)	(7,415)	(5,411)
Equity in (losses) earnings of unconsolidated entities	(183)	96	(88)	(353)
Net income	11,671	14,899	21,231	18,774
Less: net income attributable to noncontrolling interests	(1,024)	(2,031)	(2,345)	(2,281)
Net income attributable to Select Water Solutions, Inc.	10,647	12,868	18,886	16,493
Water Infrastructure
Revenue
Total revenue	80,855	68,564	153,246	132,072
Costs of revenue
Costs of revenue	36,211	33,581	69,704	67,273
Water Services
Revenue
Total revenue	215,660	230,008	441,308	458,315
Costs of revenue
Costs of revenue	173,312	178,308	355,030	359,840
Chemical Technologies
Revenue
Total revenue	67,700	66,559	144,045	141,292
Costs of revenue
Costs of revenue	55,885	55,641	120,613	117,396
Class A common stock
Other income (expense)
Net income attributable to Select Water Solutions, Inc.	$ 10,647	$ 12,868	$ 18,886	$ 16,493
Net income per share attributable to common stockholders (Note 15):
Basic	$ 0.1	$ 0.13	$ 0.19	$ 0.17
Diluted	$ 0.1	$ 0.13	$ 0.18	$ 0.16

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Select Water Solutions, Inc. 10-Q