v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenue $ 68,764 $ 78,799 $ 109,914 $ 155,057
Costs and expenses:        
Cost of services (excluding depreciation and amortization) 55,209 59,252 95,932 121,883
Depreciation and amortization 5,877 9,836 11,577 20,942
Selling, general and administrative expenses 9,406 7,214 17,778 14,604
Litigation settlement 0 35,000 0 35,000
Loss (gain) on disposal of assets (76) (545) 2,980 1,891
Loss from operations (1,652) (31,958) (18,353) (39,263)
Interest expense, net (9,562) (7,333) (17,530) (13,516)
Change in fair value of warrant liabilities 1,577 (136) 831 (7,287)
Patent license sales 0 22,500 0 22,500
Loss on extinguishment of debt 0 (839) (1,651) (839)
Other income 302 23 1,623 52
Loss before income taxes (9,335) (17,743) (35,080) (38,353)
Income tax benefit 0 (27) 0 (27)
Net loss (9,335) (17,716) (35,080) (38,326)
Net loss attributable to noncontrolling interest 0 0 0 (44)
Net loss attributable to U.S. Well Services, Inc. (9,335) (17,716) (35,080) (38,282)
Dividends accrued on Series A preferred stock (1,135) (1,998) (2,226) (3,811)
Dividends accrued on Series B preferred stock 0 (811) 0 (1,522)
Deemed and imputed dividends on Series A preferred stock 0 (286) 0 (750)
Deemed dividends on Series B preferred stock 0 (1,501) 0 (5,669)
Exchange of Series A preferred stock for Convertible Senior Notes 0 8,936 0 8,936
Net loss attributable to U.S. Well Services, Inc. common stockholders $ (10,470) $ (13,376) $ (37,306) $ (41,098)
Loss per common share (See Note 15):        
Basic and diluted $ (0.82) $ (3.10) $ (3.27) $ (10.12)
Weighted average common shares outstanding:        
Basic and diluted 12,719,540 4,218,726 11,347,278 3,990,963

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