v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Revenue $ 56,477 $ 44,042 $ 211,534 $ 195,914
Costs and expenses:        
Cost of services (excluding depreciation and amortization) 58,115 31,157 179,998 145,321
Depreciation and amortization 6,980 16,393 27,922 65,759
Selling, general and administrative expenses 11,142 6,098 25,746 30,376
Impairment of long-lived assets       147,543
Litigation settlement     35,000  
Loss (gain) on disposal of assets (12,001) 755 (10,110) 5,852
Loss from operations (7,759) (10,361) (47,022) (198,937)
Interest expense, net (10,634) (5,748) (24,150) (19,369)
Change in fair value of warrant liabilities (2,052) 1,783 (5,235) 6,972
Patent license sales     22,500  
Gain on extinguishment of debt, net 6,645   5,806  
Other income 117 30 169 81
Loss before income taxes (9,579) (14,296) (47,932) (211,253)
Income tax benefit (87) (27) (824)
Net loss (9,579) (14,209) (47,905) (210,429)
Net loss attributable to noncontrolling interest   (51) (44) (10,948)
Net loss attributable to U.S. Well Services, Inc. (9,579) (14,158) (47,861) (199,481)
Dividends accrued on Series A preferred stock (997) (1,854) (4,808) (5,450)
Dividends accrued on Series B preferred stock (3,069) (681) (4,591) (1,347)
Deemed and imputed dividends on Series A preferred stock   (464) (750) (12,578)
Deemed dividends on Series B preferred stock (1,509) (7,178)  
Exchange of Series A preferred stock for convertible senior notes     8,936  
Net loss attributable to U.S. Well Services, Inc. common stockholders $ (15,154) $ (17,157) $ (56,252) $ (218,856)
Loss per common share (See Note 14):        
Basic and diluted [1] $ (0.50) $ (0.88) $ (2.14) $ (11.80)
Weighted average common shares outstanding:        
Basic and diluted [1] 29,802,161 19,047,711 25,919,364 18,123,059
[1] Prior periods have been adjusted to reflect the 1-for-3.5 reverse stock split on September 30, 2021. See Note 2, Reverse Stock Split, for details.

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