v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Revenue $ 78,799 $ 39,837 $ 155,057 $ 151,872
Costs and expenses:        
Cost of services (excluding depreciation and amortization) 59,252 29,011 121,883 114,165
Depreciation and amortization 9,836 17,358 20,942 49,366
Selling, general and administrative expenses 7,214 5,220 14,604 24,277
Impairment of long-lived assets       147,543
Litigation settlement 35,000   35,000  
Loss (gain) on disposal of assets (545) 853 1,891 5,097
Loss from operations (31,958) (12,605) (39,263) (188,576)
Interest expense, net (7,333) (5,665) (13,516) (13,621)
Change in fair value of warrant liabilities (136) (1,364) (7,287) 5,189
Patent license sales 22,500   22,500  
Loss on extinguishment of debt (839)   (839)  
Other income 23 45 52 51
Loss before income taxes (17,743) (19,589) (38,353) (196,957)
Income tax expense (benefit) (27) 13 (27) (737)
Net loss (17,716) (19,602) (38,326) (196,220)
Net loss attributable to noncontrolling interest   (97) (44) (10,897)
Net loss attributable to U.S. Well Services, Inc. (17,716) (19,505) (38,282) (185,323)
Dividends accrued on Series A preferred stock (1,998) (1,845) (3,811) (3,596)
Dividends accrued on Series B preferred stock (811) (666) (1,522) (666)
Deemed and imputed dividends on Series A preferred stock (286) (5,142) (750) (12,114)
Deemed dividends on Series B preferred stock (1,501)   (5,669)  
Exchange of Series A preferred stock for convertible senior notes 8,936   8,936  
Net loss attributable to U.S. Well Services, Inc. common stockholders $ (13,376) $ (27,158) $ (41,098) $ (201,699)
Loss per common share (See Note 14):        
Basic and diluted $ (0.15) $ (0.41) $ (0.48) $ (3.19)
Weighted average common shares outstanding:        
Basic and diluted 88,593,272 65,010,942 83,810,258 61,815,271

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