Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]    
Revenue $ 250,463,000 $ 244,007,000
Costs and expenses:    
Cost of services (excluding depreciation and amortization) 221,364,000 187,803,000
Depreciation and amortization 35,444,000 80,353,000
Selling, general and administrative expenses 32,578,000 43,632,000
Impairment of long-lived assets 0 147,543,000
Litigation settlement 35,000,000  
(Gain) loss on disposal of assets (21,896,000) 7,112,000
Loss from operations (52,027,000) (222,436,000)
Interest expense, net (33,370,000) (25,226,000)
Change in fair value of warrant liabilities (2,152,000) 6,342,000
Patent license sales 22,500,000  
Loss on extinguishment of debt, net (6,142,000)  
Other income 515,000 108,000
Loss before income taxes (70,676,000) (241,212,000)
Income tax benefit (27,000) (824,000)
Net loss (70,649,000) (240,388,000)
Net loss attributable to noncontrolling interest (44,000) (11,048,000)
Net loss attributable to U.S. Well Services, Inc. (70,605,000) (229,340,000)
Dividends accrued on Series A preferred stock (5,857,000) (7,214,000)
Dividends accrued on Series B preferred stock (4,591,000) (2,049,000)
Deemed and imputed dividends on Series A preferred stock (750,000) (13,022,000)
Deemed dividends on Series B preferred stock (7,178,000) (564,000)
Exchange of Series A preferred stock for convertible senior notes 8,936,000  
Net loss attributable to U.S. Well Services, Inc. common stockholders $ (80,045,000) $ (252,189,000)
Loss per common share (See Note 15):    
Basic and diluted $ (2.44) $ (13.32)
Weighted average common shares outstanding:    
Basic and diluted 32,393,946 18,511,783