Cactus (WHD) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38390
Entity Registrant Name	Cactus, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2586106
Entity Address, Address Line One	920 Memorial City Way, Suite 300
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	626-8800
Title of 12(b) Security	Class A Common Stock, par value $0.01
Trading Symbol	WHD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001699136
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Common Stock, Shares Outstanding		58,038,349
Class B Common Stock
Entity Common Stock, Shares Outstanding		17,665,021

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 309,082	$ 288,659
Accounts receivable, net of allowance of $630 and $598, respectively	71,825	44,068
Inventories	88,382	87,480
Prepaid expenses and other current assets	4,490	4,935
Total current assets	473,779	425,142
Property and equipment, net	136,183	142,825
Operating lease right-of-use assets, net	22,662	21,994
Goodwill	7,824	7,824
Deferred tax asset, net	303,187	216,603
Other noncurrent assets	1,115	1,206
Total assets	944,750	815,594
Current liabilities
Accounts payable	33,505	20,163
Accrued expenses and other current liabilities	21,379	11,392
Current portion of liability related to tax receivable agreement	9,290	9,290
Finance lease obligations, current portion	4,770	3,823
Operating lease liabilities, current portion	4,616	4,247
Total current liabilities	73,560	48,915
Deferred tax liability, net	587	786
Liability related to tax receivable agreement, net of current portion	275,883	195,061
Finance lease obligations, net of current portion	5,328	2,240
Operating lease liabilities, net of current portion	18,217	17,822
Total liabilities	373,575	264,824
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value, 10,000 shares authorized, none issued and outstanding	0	0
Additional paid-in capital	278,505	202,077
Retained earnings	162,668	150,086
Accumulated other comprehensive income	217	330
Total stockholders’ equity attributable to Cactus Inc.	441,970	352,970
Non-controlling interest	129,205	197,800
Total stockholders’ equity	571,175	550,770
Total liabilities and equity	944,750	815,594
Class A Common Stock
Stockholders’ equity
Common stock, $0.01 par value	580	477
Class B Common Stock
Stockholders’ equity
Common stock, $0.01 par value	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts receivable	$ 630	$ 598
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	58,038,000	47,713,000
Common stock, shares outstanding (in shares)	58,038,000	47,713,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	215,000,000	215,000,000
Common stock, shares issued (in shares)	17,665,000	27,655,000
Common stock, shares outstanding (in shares)	17,665,000	27,655,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Total revenues	$ 108,893	$ 66,548	$ 193,310	$ 220,687
Costs and expenses
Selling, general and administrative expenses	11,384	8,693	21,011	22,355
Severance expenses	0	857	0	1,864
Total costs and expenses	91,579	57,673	164,361	171,627
Income from operations	17,314	8,875	28,949	49,060
Interest income (expense), net	(181)	223	(333)	633
Other income (expense), net	(1,004)	1,310	(1,410)	1,310
Income before income taxes	16,129	10,408	27,206	51,003
Income tax expense (benefit)	1,355	1,313	(2,704)	8,810
Net income	14,774	9,095	29,910	42,193
Less: net income attributable to non-controlling interest	4,381	3,067	7,958	17,182
Net income attributable to Cactus Inc.	$ 10,393	$ 6,028	$ 21,952	$ 25,011
Class A Common Stock
Earnings per share and weighted average shares outstanding
Earnings per Class A share - basic (in dollars per share)	$ 0.19	$ 0.13	$ 0.42	$ 0.53
Earnings per Class A share - diluted (in dollars per share)	$ 0.18	$ 0.11	$ 0.37	$ 0.51
Weighted average Class A shares outstanding - basic (in shares)	55,048	47,436	52,124	47,353
Weighted average Class A shares outstanding - diluted (in shares)	75,997	75,367	75,955	75,347
Product revenue
Revenues
Total revenues	$ 70,345	$ 40,893	$ 122,301	$ 127,924
Costs and expenses
Cost of revenue	48,100	25,962	84,621	82,097
Rental revenue
Revenues
Total revenues	14,644	11,535	27,133	47,698
Costs and expenses
Cost of revenue	14,403	10,675	26,574	30,014
Field service and other revenue
Revenues
Total revenues	23,904	14,120	43,876	45,065
Costs and expenses
Cost of revenue	$ 17,692	$ 11,486	$ 32,155	$ 35,297

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 14,774	$ 9,095	$ 29,910	$ 42,193
Foreign currency translation adjustments	(82)	879	(275)	(204)
Comprehensive income	14,692	9,974	29,635	41,989
Less: comprehensive income attributable to non-controlling interest	4,337	3,448	7,796	17,095
Comprehensive income attributable to Cactus Inc.	$ 10,355	$ 6,526	$ 21,839	$ 24,894

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interest	Class A Common StockCommon stock	Class B Common StockCommon stock
Balance at the beginning of the period (in shares) at Dec. 31, 2019						47,159	27,958
Balance at the beginning of the period at Dec. 31, 2019	$ 516,395	$ 194,456	$ 132,990	$ (452)	$ 188,929	$ 472	$ 0
Statement of Stockholders'/Members' Equity
Member distributions	(4,712)				(4,712)
Effect of CW Unit redemptions (in shares)						74	(74)
Effect of CW Unit redemptions	0	539			(540)	$ 1
Tax impact of equity transactions	62	62
Equity award vestings (in shares)						245
Equity award vestings	(1,386)	(218)			(1,170)	$ 2
Other comprehensive loss (income)	(204)			(117)	(87)
Stock-based compensation	4,204	2,645			1,559
Cash dividends declared	(8,645)		(8,645)
Net income	42,193		25,011		17,182
Balance at the end of the period (in shares) at Jun. 30, 2020						47,478	27,884
Balance at the end of the period at Jun. 30, 2020	547,907	197,484	149,356	(569)	201,161	$ 475	$ 0
Balance at the beginning of the period (in shares) at Mar. 31, 2020						47,398	27,958
Balance at the beginning of the period at Mar. 31, 2020	542,426	195,381	147,670	(1,067)	199,968	$ 474	$ 0
Statement of Stockholders'/Members' Equity
Member distributions	(2,509)				(2,509)
Effect of CW Unit redemptions (in shares)						74	(74)
Effect of CW Unit redemptions	0	539			(540)	$ 1
Tax impact of equity transactions	156	156
Equity award vestings (in shares)						6
Equity award vestings	(29)	3			(32)
Other comprehensive loss (income)	879			498	381
Stock-based compensation	2,231	1,405			826
Cash dividends declared	(4,342)		(4,342)
Net income	9,095		6,028		3,067
Balance at the end of the period (in shares) at Jun. 30, 2020						47,478	27,884
Balance at the end of the period at Jun. 30, 2020	547,907	197,484	149,356	(569)	201,161	$ 475	$ 0
Balance at the beginning of the period (in shares) at Dec. 31, 2020						47,713	27,655
Balance at the beginning of the period at Dec. 31, 2020	550,770	202,077	150,086	330	197,800	$ 477	$ 0
Balance at the end of the period (in shares) at Mar. 31, 2021						54,317	21,383
Balance at the end of the period at Mar. 31, 2021	559,050	247,875	157,286	255	153,091	$ 543	$ 0
Balance at the beginning of the period (in shares) at Dec. 31, 2020						47,713	27,655
Balance at the beginning of the period at Dec. 31, 2020	550,770	202,077	150,086	330	197,800	$ 477	$ 0
Statement of Stockholders'/Members' Equity
Member distributions	(3,560)				(3,560)
Effect of CW Unit redemptions (in shares)						9,990	(9,990)
Effect of CW Unit redemptions	0	71,911			(72,011)	$ 100
Tax impact of equity transactions	2,436	2,436
Equity award vestings (in shares)						335
Equity award vestings	(3,174)	(1,067)			(2,110)	$ 3
Other comprehensive loss (income)	(275)			(113)	(162)
Stock-based compensation	4,438	3,148			1,290
Cash dividends declared	(9,370)		(9,370)
Net income	29,910		21,952		7,958
Balance at the end of the period (in shares) at Jun. 30, 2021						58,038	17,665
Balance at the end of the period at Jun. 30, 2021	571,175	278,505	162,668	217	129,205	$ 580	$ 0
Balance at the beginning of the period (in shares) at Mar. 31, 2021						54,317	21,383
Balance at the beginning of the period at Mar. 31, 2021	559,050	247,875	157,286	255	153,091	$ 543	$ 0
Statement of Stockholders'/Members' Equity
Member distributions	(1,886)				(1,886)
Effect of CW Unit redemptions (in shares)						3,718	(3,718)
Effect of CW Unit redemptions	0	26,912			(26,949)	$ 37
Tax impact of equity transactions	1,931	1,931
Equity award vestings (in shares)						3
Equity award vestings	(36)	(19)			(17)
Other comprehensive loss (income)	(82)			(38)	(44)
Stock-based compensation	2,435	1,806			629
Cash dividends declared	(5,011)		(5,011)
Net income	14,774		10,393		4,381
Balance at the end of the period (in shares) at Jun. 30, 2021						58,038	17,665
Balance at the end of the period at Jun. 30, 2021	$ 571,175	$ 278,505	$ 162,668	$ 217	$ 129,205	$ 580	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividend declared (in dollars per share)	$ 0.09	$ 0.09	$ 0.18	$ 0.18

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income	$ 29,910	$ 42,193
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	18,352	21,500
Deferred financing cost amortization	84	84
Stock-based compensation	4,438	4,204
Provision for expected credit losses	149	574
Inventory obsolescence	1,566	2,322
Gain on disposal of assets	(613)	(438)
Deferred income taxes	(4,506)	5,565
(Gain) loss from revaluation of liability related to tax receivable agreement	1,004	(1,310)
Changes in operating assets and liabilities:
Accounts receivable	(27,858)	42,039
Inventories	(2,569)	17,076
Prepaid expenses and other assets	499	2,619
Accounts payable	12,774	(25,686)
Accrued expenses and other liabilities	9,999	(8,193)
Net cash provided by operating activities	43,229	102,549
Cash flows from investing activities
Capital expenditures and other	(5,461)	(18,902)
Proceeds from sale of assets	1,108	2,352
Net cash used in investing activities	(4,353)	(16,550)
Cash flows from financing activities
Payments on finance leases	(2,479)	(3,265)
Dividends paid to Class A common stock shareholders	(9,426)	(8,568)
Distributions to members	(3,560)	(4,712)
Repurchases of shares	(3,174)	(1,385)
Net cash used in financing activities	(18,639)	(17,930)
Effect of exchange rate changes on cash and cash equivalents	186	1
Net increase in cash and cash equivalents	20,423	68,070
Cash and cash equivalents
Beginning of period	288,659	202,603
End of period	309,082	270,673
Supplemental disclosure of cash flow information
Property and equipment acquired under finance leases	6,582	1,896
Property and equipment in payables	$ 694	$ 808

Preparation of Interim Financia

Preparation of Interim Financial Statements and Other Items	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Preparation of Interim Financial Statements and Other Items	Preparation of Interim Financial Statements and Other Items Basis of Presentation The financial statements presented in this report represent the consolidation of Cactus, Inc. (“Cactus Inc.”) and its subsidiaries (“the Company”), including Cactus Wellhead, LLC (“Cactus LLC”). Cactus Inc. is a holding company whose only material asset is an equity interest consisting of units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus Inc. is the sole managing member of Cactus LLC and operates and controls all of the business and affairs of Cactus LLC and conducts its business through Cactus LLC and its subsidiaries. As a result, Cactus Inc. consolidates the financial results of Cactus LLC and its subsidiaries and reports a non-controlling interest related to the portion of CW Units not owned by Cactus Inc., which reduces net income attributable to holders of Cactus Inc.’s Class A common stock, par value $0.01 per share (“Class A common stock”). Except as otherwise indicated or required by the context, all references to “Cactus,” “we,” “us” and “our” refer to Cactus Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, these consolidated financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our Annual Report on Form 10-K for the year ended December 31, 2020. The consolidated financial statements include all adjustments, which are of a normal recurring nature, unless otherwise disclosed, necessary for a fair statement of the consolidated financial statements for the interim periods. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year. Use of Estimates In preparing our consolidated financial statements in conformity with GAAP, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with a high degree of precision from available data or is not otherwise capable of being readily calculated based on accepted methodologies. In some cases, these estimates are particularly difficult to determine, and we must exercise significant judgment. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our consolidated financial statements.

Concentrations, Risks and Uncer

Concentrations, Risks and Uncertainties	6 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Concentrations, Risks and Uncertainties	Concentrations, Risks and Uncertainties Significant Customers Our customers are oil and natural gas exploration and production companies located primarily in the U.S. as well as Australia. For the six months ended June 30, 2021, one customer represented 13% of our consolidated revenues. For the six months ended June 30, 2020, no customer represented 10% or more of our consolidated revenues. Significant Vendors The principal raw materials used in the manufacture of our products and rental equipment include forgings and plate, tube and bar stock. In addition, we require accessory items (such as elastomers, ring gaskets, studs and nuts) and machined components and assemblies. We purchase these items from vendors primarily located in the United States, China, India and Australia. For the six months ended June 30, 2021 and 2020, we purchased approximately $6.9 million and $4.7 million, respectively, from a single vendor, representing approximately 10% and 7%, respectively, of our total third-party vendor purchases of raw materials, finished products, components, equipment, machining and other services. Amounts due to this vendor included in accounts payable in the consolidated balance sheets as of June 30, 2021 and December 31, 2020 totaled $1.3 million and $1.5 million, respectively.

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses We extend credit to customers in the normal course of business. Our customers are oil and gas companies located predominately in the U.S. Our receivables are short-term in nature and typically due in 30 to 45 days. We do not accrue interest on delinquent receivables. Accounts receivable includes amounts billed and currently due from customers and unbilled amounts for products delivered and services performed for which billings have not yet been submitted to the customers. Total unbilled revenue included in accounts receivable as of June 30, 2021 and December 31, 2020 was $15.4 million and $8.7 million, respectively. We maintain an allowance for credit losses to provide for the amount of billed receivables we believe to be at risk of loss. In our determination of the allowance for credit losses, we pool receivables with similar risk characteristics based on customer size, credit ratings, payment history, bankruptcy status and other factors known to us and apply an expected credit loss percentage. The expected credit loss percentage is determined using historical loss data adjusted for current conditions and forecasts of future economic conditions. Accounts deemed uncollectible are applied against the allowance for credit losses. The following is a rollforward of our allowance for credit losses. Balance at Expense Write off Balance at Six Months Ended June 30, 2021 $ 598 $ 149 $ (117) $ 630 Six Months Ended June 30, 2020 837 574 (141) 1,270

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard cost (which approximates average cost) and weighted average methods. Costs include an application of related direct labor, tariff, freight and overhead cost. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Reserves are made for excess and obsolete items based on a range of factors, including age, usage and technological or market changes that may impact demand for those products. Inventories consist of the following: June 30, December 31, Raw materials $ 1,774 $ 2,003 Work-in-progress 3,921 3,598 Finished goods 82,687 81,879 $ 88,382 $ 87,480

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at cost. We manufacture or construct most of our rental assets. During the manufacture of these assets, they are reflected as construction in progress until complete. Property and equipment consists of the following: June 30, December 31, Land $ 3,203 $ 3,203 Buildings and improvements 22,110 21,935 Machinery and equipment 58,211 57,726 Vehicles under finance lease 20,551 14,371 Rental equipment 177,644 172,012 Furniture and fixtures 1,780 1,780 Computers and software 3,528 3,530 Gross property and equipment 287,027 274,557 Less: Accumulated depreciation (164,607) (147,221) Net property and equipment 122,420 127,336 Construction in progress 13,763 15,489 Total property and equipment, net $ 136,183 $ 142,825

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt We had no debt outstanding as of June 30, 2021 and December 31, 2020. On August 21, 2018, Cactus LLC entered into a five-year senior secured asset-based revolving credit facility with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent for such lenders and as an issuing bank and swingline lender (the “ABL Credit Facility”). The ABL Credit Facility was amended in September 2020 and provides for up to $75.0 million in revolving commitments, up to $15.0 million of which is available for the issuance of letters of credit. The maximum amount that Cactus LLC may borrow under the ABL Credit Facility is subject to a borrowing base, which is based on a percentage of eligible accounts receivable and eligible inventory, subject to reserves and other adjustments. We were in compliance with all covenants under the ABL Credit Facility as of June 30, 2021.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The majority of our revenues are derived from short-term contracts for fixed consideration. Product sales generally do not include right of return or other significant post-delivery obligations. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Revenues are recognized when we satisfy a performance obligation by transferring control of the promised goods or providing services to our customers at a point in time, in an amount specified in the contract with our customer and that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The majority of our contracts with customers contain a single performance obligation to provide agreed upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. We do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We do not incur any material costs of obtaining contracts. We do not adjust the amount of consideration per the contract for the effects of a significant financing component when we expect, at contract inception, that the period between the transfer of a promised good or service to a customer and when the customer pays for that good or service will be one year or less, which is in substantially all cases. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 45 days. Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. We treat shipping and handling associated with outbound freight as a fulfillment cost instead of as a separate performance obligation. We recognize the cost for the associated shipping and handling when incurred as an expense in cost of sales. We disaggregate revenue into three categories: product revenues, rental revenues and field service and other revenues. We have predominately domestic operations, with a small amount of sales in Australia. The following table presents our revenues disaggregated by category: Three Months Ended Six Months Ended 2021 2020 2021 2020 Product revenue $ 70,345 65 % $ 40,893 62 % $ 122,301 63 % $ 127,924 58 % Rental revenue 14,644 13 % 11,535 17 % 27,133 14 % 47,698 22 % Field service and other revenue 23,904 22 % 14,120 21 % 43,876 23 % 45,065 20 % Total revenue $ 108,893 100 % $ 66,548 100 % $ 193,310 100 % $ 220,687 100 % At June 30, 2021, we had a deferred revenue balance of $1.0 million compared to the December 31, 2020 balance of $1.1 million. Deferred revenue represents our obligation to transfer products to or perform services for a customer for which we have received cash or billed in advance. The revenue that has been deferred will be recognized upon product delivery or as services are performed. As of June 30, 2021, we did not have any contracts with an original length of greater than a year from which revenue is expected to be recognized in the future related to performance obligations that are unsatisfied.

Tax Receivable Agreement (TRA)

Tax Receivable Agreement (TRA)	6 Months Ended
	Jun. 30, 2021
Tax Receivable Agreement
Tax Receivable Agreement (TRA)	Tax Receivable Agreement (TRA) In connection with our initial public offering (“IPO”) in February 2018, we entered into the TRA which generally provides for payment by Cactus Inc. to the TRA Holders of 85% of the net cash savings, if any, in U.S. federal, state and local income tax and franchise tax that Cactus Inc. actually realizes or is deemed to realize in certain circumstances. Cactus Inc. will retain the benefit of the remaining 15% of these net cash savings. The TRA liability is calculated by determining the amount of basis subject to the TRA (“tax basis”) and applying a blended tax rate to that basis and then calculating the iterative impact. The blended tax rate consists of the U.S. federal income tax rate and an assumed combined state and local income tax rate driven by the apportionment factors applicable to each state. Subsequent changes to the measurement of the TRA liability are recognized in the statements of income as a component of other income (expense), net. As of June 30, 2021, the total liability from the TRA was $285.2 million with $9.3 million reflected in current liabilities based on the expected timing of our next payment. The payments under the TRA will not be conditional on a holder of rights under the TRA having a continued ownership interest in either Cactus LLC or Cactus Inc. The term of the TRA commenced upon completion of our IPO and will continue until all tax benefits that are subject to the TRA have been utilized or expired, unless we exercise our right to terminate the TRA. If we elect to terminate the TRA early (or it is terminated early due to certain mergers, asset sales, other forms of business combinations or other changes of control), our obligations under the TRA would accelerate and we would be required to make an immediate payment equal to the present value of the anticipated future payments to be made by us under the TRA and such payment is expected to be substantial. The calculation of anticipated future payments will be based upon certain assumptions and deemed events set forth in the TRA, including the assumptions that (i) we have sufficient taxable income to fully utilize the tax benefits covered by the TRA and (ii) any CW Units (other than those held by Cactus Inc.) outstanding on the termination date are deemed to be redeemed on the termination date. Any early termination payment may be made significantly in advance of the actual realization, if any, of the future tax benefits to which the termination payment relates. We may elect to defer payments due under the TRA if we do not have available cash to satisfy our payment obligations under the TRA. Any such deferred payments under the TRA generally will accrue interest from the due date for such payment until the payment date.

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Equity	EquityAs of June 30, 2021, Cactus Inc. owned 76.7% of Cactus LLC as compared to 63.3% as of December 31, 2020. As of June 30, 2021, Cactus Inc. had outstanding 58.0 million shares of Class A common stock (representing 76.7% of the total voting power) and 17.7 million shares of Class B common stock (representing 23.3% of the total voting power). Redemptions of CW Units Pursuant to the First Amended and Restated Limited Liability Company Operating Agreement of Cactus Wellhead, LLC (the “Cactus Wellhead LLC Agreement”), holders of CW Units are entitled to redeem their CW Units, which results in additional Class A common stock outstanding. Since our IPO in February 2018, 42.9 million CW Units and a corresponding number of shares of Class B common stock have been redeemed in exchange for shares of Class A common stock. On June 17, 2021, Cadent Energy Partners II, L.P. (“Cadent”) transferred ownership of 944,093 CW Units, together with a corresponding number of shares of Class B common stock, to various Cadent-affiliated entities. Cadent then redeemed its remaining 3.3 million CW Units, together with a corresponding number of shares of Class B common stock, as provided in the Cactus Wellhead LLC Agreement. The redeemed CW Units (and the corresponding shares of Class B common stock) were cancelled and Cactus Inc. issued 3.3 million new shares of Class A common stock to Cadent, which then distributed such shares to its limited partners. Cactus received no proceeds from these events, and there was no change in the combined number of voting shares of Cactus, Inc. outstanding. In addition to the redemption by Cadent, 425,433 CW Units were redeemed in exchange for shares of Class A common stock during the three months ended June 30, 2021. We recorded an increase in additional paid-in capital with a corresponding decrease in the non-controlling interest in equity of $26.9 million and an increase in the TRA liability of $33.1 million resulting from the redemption of CW Units during the second quarter of 2021. Additionally, we recognized a $3.0 million tax benefit for the partial valuation release related to the realizable portion of the deferred tax assets. On March 9, 2021, Cactus Inc. entered into an underwriting agreement with Cactus LLC, certain selling stockholders of Cactus (the “Selling Stockholders”) and the underwriters named therein, providing for the offer and sale by the Selling Stockholders (the “2021 Secondary Offering”) of up to 6,325,000 shares of Class A common stock, including up to 825,000 shares of Class A common stock that may be issued and sold to cover overallotments, if any, at a price to the underwriters of $30.555 per share. On March 12, 2021, in connection with the 2021 Secondary Offering, certain of the Selling Stockholders exercised their right to redeem 6,272,500 CW Units, together with a corresponding number of shares of Class B common stock, as provided in the Cactus Wellhead LLC Agreement. Upon the closing of the 2021 Secondary Offering, Cactus Inc. acquired the redeemed CW Units and a corresponding number of shares of Class B common stock (which shares of Class B common stock were then cancelled) and issued 6,272,500 new shares of Class A common stock to the underwriters at the direction of the redeeming Selling Stockholders, as provided in the Cactus Wellhead LLC Agreement. In addition, certain other Selling Stockholders sold 52,500 shares of Class A common stock in the 2021 Secondary Offering, which shares were owned by them directly as of the time of the 2021 Secondary Offering. Cactus did not receive any of the proceeds from the sale of common stock in the 2021 Secondary Offering and incurred $0.4 million in expenses which were recorded in other expense, net, in the consolidated statement of income. We recorded an increase in additional paid-in capital with a corresponding decrease in the non-controlling interest in equity of approximately $45.0 million and an increase in the TRA liability of $46.7 million resulting from the redemption of CW Units pursuant to the 2021 Secondary Offering. Additionally, we recognized a $5.1 million tax benefit for a partial valuation allowance release related to the realizable portion of the deferred tax asset. During the three and six months ended June 30, 2020, 74,413 CW Units were redeemed in exchange for Class A common stock. Dividends Aggregate cash dividends of $0.18 per share of Class A common stock declared and paid during the six months ended June 30, 2021 totaled $9.4 million compared to $8.6 million for the six months ended June 30, 2020. Dividends accrue on unvested equity-based awards on the date of record and are paid upon vesting. During the six months ended June 30, 2021, $0.2 million of previously accrued dividends was paid to holders of restricted stock units that vested during the period as compared to only a de minimis amount of dividends paid during the six months ended June 30, 2020 upon vesting. Dividends are not paid to our Class B common stockholders; however, a corresponding distribution up to the same amount per share as our Class A common stockholders is paid to the owners of CW Units other than Cactus Inc. for any dividends declared on our Class A common stock. See further discussion of the distributions below under “Member Distributions.” Member Distributions Distributions made by Cactus LLC are generally required to be made pro rata among all its members. For the six months ended June 30, 2021, Cactus LLC distributed $9.2 million to Cactus Inc. to fund its dividend payments and made pro rata distributions to the other members totaling $3.6 million over the same period. During the six months ended June 30, 2020, Cactus LLC distributed $8.0 million to Cactus Inc. to fund its dividend payments and made pro rata distributions to the other members totaling $4.7 million. Limitation of Members’ Liability Under the terms of the Cactus Wellhead LLC Agreement, the members of Cactus LLC are not obligated for debt, liabilities, contracts or other obligations of Cactus LLC. Profits and losses are allocated to members as defined in the Cactus Wellhead LLC Agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesWe are involved in various disputes arising in the ordinary course of business. Management does not believe the outcome of these disputes will have a material adverse effect on our consolidated financial position or consolidated results of operations.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic earnings per share of Class A common stock is calculated by dividing the net income attributable to Cactus Inc. during the period by the weighted average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is calculated by dividing the net income attributable to Cactus Inc. during that period by the weighted average number of common shares outstanding assuming all potentially dilutive shares were issued. We use the if-converted method to determine the potential dilutive effect of outstanding CW Units (and corresponding shares of outstanding Class B common stock), the treasury stock method to determine the potential dilutive effect of unvested restricted stock units assuming that the proceeds will be used to purchase shares of Class A common stock and the contingently issuable share method to determine the potential dilutive effect of unvested performance stock units. The following table summarizes the basic and diluted earnings per share calculations: Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator: Net income attributable to Cactus Inc.—basic $ 10,393 $ 6,028 $ 21,952 $ 25,011 Net income attributable to non-controlling interest (1) 3,332 2,491 6,091 13,657 Net income attributable to Cactus Inc.—diluted (1) $ 13,725 $ 8,519 $ 28,043 $ 38,668 Denominator: Weighted average Class A shares outstanding—basic 55,048 47,436 52,124 47,353 Effect of dilutive shares (2) 20,949 27,931 23,831 27,994 Weighted average Class A shares outstanding—diluted (2) 75,997 75,367 75,955 75,347 Earnings per Class A share—basic $ 0.19 $ 0.13 $ 0.42 $ 0.53 Earnings per Class A share—diluted (1) (2) $ 0.18 $ 0.11 $ 0.37 $ 0.51 (1) The numerator is adjusted in the calculation of diluted earnings per share under the if-converted method to include net income attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 28% for the three and six months ended June 30, 2021 and 26% for the three and six months ended June 30, 2020. (2) Diluted earnings per share for the three and six months ended June 30, 2021 includes 20.7 million and 23.5 million, respectively, of weighted average shares of Class B common stock outstanding assuming conversion as well as the dilutive effect of restricted stock unit and performance stock unit awards. Diluted earnings per share for both the three and six months ended June 30, 2020 includes 27.9 million weighted average shares of Class B common stock outstanding assuming conversion as well as the dilutive effect of restricted stock unit awards.

Preparation of Interim Financ_2

Preparation of Interim Financial Statements and Other Items (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The financial statements presented in this report represent the consolidation of Cactus, Inc. (“Cactus Inc.”) and its subsidiaries (“the Company”), including Cactus Wellhead, LLC (“Cactus LLC”). Cactus Inc. is a holding company whose only material asset is an equity interest consisting of units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus Inc. is the sole managing member of Cactus LLC and operates and controls all of the business and affairs of Cactus LLC and conducts its business through Cactus LLC and its subsidiaries. As a result, Cactus Inc. consolidates the financial results of Cactus LLC and its subsidiaries and reports a non-controlling interest related to the portion of CW Units not owned by Cactus Inc., which reduces net income attributable to holders of Cactus Inc.’s Class A common stock, par value $0.01 per share (“Class A common stock”). Except as otherwise indicated or required by the context, all references to “Cactus,” “we,” “us” and “our” refer to Cactus Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, these consolidated financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our Annual Report on Form 10-K for the year ended December 31, 2020. The consolidated financial statements include all adjustments, which are of a normal recurring nature, unless otherwise disclosed, necessary for a fair statement of the consolidated financial statements for the interim periods. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.
Use of Estimates	Use of Estimates In preparing our consolidated financial statements in conformity with GAAP, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with a high degree of precision from available data or is not otherwise capable of being readily calculated based on accepted methodologies. In some cases, these estimates are particularly difficult to determine, and we must exercise significant judgment. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our consolidated financial statements.

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of rollforward of allowance for credit losses	The following is a rollforward of our allowance for credit losses. Balance at Expense Write off Balance at Six Months Ended June 30, 2021 $ 598 $ 149 $ (117) $ 630 Six Months Ended June 30, 2020 837 574 (141) 1,270

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following: June 30, December 31, Raw materials $ 1,774 $ 2,003 Work-in-progress 3,921 3,598 Finished goods 82,687 81,879 $ 88,382 $ 87,480

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment net	Property and equipment consists of the following: June 30, December 31, Land $ 3,203 $ 3,203 Buildings and improvements 22,110 21,935 Machinery and equipment 58,211 57,726 Vehicles under finance lease 20,551 14,371 Rental equipment 177,644 172,012 Furniture and fixtures 1,780 1,780 Computers and software 3,528 3,530 Gross property and equipment 287,027 274,557 Less: Accumulated depreciation (164,607) (147,221) Net property and equipment 122,420 127,336 Construction in progress 13,763 15,489 Total property and equipment, net $ 136,183 $ 142,825

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of revenues disaggregated by category	The following table presents our revenues disaggregated by category: Three Months Ended Six Months Ended 2021 2020 2021 2020 Product revenue $ 70,345 65 % $ 40,893 62 % $ 122,301 63 % $ 127,924 58 % Rental revenue 14,644 13 % 11,535 17 % 27,133 14 % 47,698 22 % Field service and other revenue 23,904 22 % 14,120 21 % 43,876 23 % 45,065 20 % Total revenue $ 108,893 100 % $ 66,548 100 % $ 193,310 100 % $ 220,687 100 %

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following table summarizes the basic and diluted earnings per share calculations: Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator: Net income attributable to Cactus Inc.—basic $ 10,393 $ 6,028 $ 21,952 $ 25,011 Net income attributable to non-controlling interest (1) 3,332 2,491 6,091 13,657 Net income attributable to Cactus Inc.—diluted (1) $ 13,725 $ 8,519 $ 28,043 $ 38,668 Denominator: Weighted average Class A shares outstanding—basic 55,048 47,436 52,124 47,353 Effect of dilutive shares (2) 20,949 27,931 23,831 27,994 Weighted average Class A shares outstanding—diluted (2) 75,997 75,367 75,955 75,347 Earnings per Class A share—basic $ 0.19 $ 0.13 $ 0.42 $ 0.53 Earnings per Class A share—diluted (1) (2) $ 0.18 $ 0.11 $ 0.37 $ 0.51 (1) The numerator is adjusted in the calculation of diluted earnings per share under the if-converted method to include net income attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 28% for the three and six months ended June 30, 2021 and 26% for the three and six months ended June 30, 2020. (2) Diluted earnings per share for the three and six months ended June 30, 2021 includes 20.7 million and 23.5 million, respectively, of weighted average shares of Class B common stock outstanding assuming conversion as well as the dilutive effect of restricted stock unit and performance stock unit awards. Diluted earnings per share for both the three and six months ended June 30, 2020 includes 27.9 million weighted average shares of Class B common stock outstanding assuming conversion as well as the dilutive effect of restricted stock unit awards.

Preparation of Interim Financ_3

Preparation of Interim Financial Statements and Other Items (Details) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Class A Common Stock
Organization and Nature of Operations
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Concentrations, Risks and Unc_2

Concentrations, Risks and Uncertainties (Details) $ in Millions	1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 30, 2021	Jun. 30, 2021USD ($)hired	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Concentrations, Risks and Uncertainties
Decrease in revenue, percent				45.00%
Positions hired (over) | hired		200
Salary reinstated, percent	50.00%
Significant vendors | Purchases
Concentrations, Risks and Uncertainties
Purchases from the vendor		$ 6.9	$ 4.7
Accounts payable		$ 1.3		$ 1.5
One Customer | Customer | Total revenues
Concentrations, Risks and Uncertainties
Concentration risk		13.00%	10.00%
One Customer | Significant vendors | Purchases
Concentrations, Risks and Uncertainties
Concentration risk		10.00%	7.00%

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts Receivable
Unbilled revenue	$ 15,400		$ 8,700
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	598	$ 837
Expense	149	574
Write off	(117)	(141)
Balance at End of Period	$ 630	$ 1,270

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Summary of inventories
Raw materials	$ 1,774	$ 2,003
Work-in-progress	3,921	3,598
Finished goods	82,687	81,879
Total inventory	$ 88,382	$ 87,480

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 287,027	$ 274,557
Less: Accumulated depreciation	(164,607)	(147,221)
Net property and equipment	122,420	127,336
Total property and equipment, net	136,183	142,825
Land
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,203	3,203
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property and equipment	22,110	21,935
Machinery and equipment
Property, Plant and Equipment [Line Items]
Gross property and equipment	58,211	57,726
Vehicles under finance lease
Property, Plant and Equipment [Line Items]
Vehicles under finance lease	20,551	14,371
Rental equipment
Property, Plant and Equipment [Line Items]
Gross property and equipment	177,644	172,012
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property and equipment	1,780	1,780
Computers and software
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,528	3,530
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 13,763	$ 15,489

Debt (Details)

Debt (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Aug. 21, 2018
Long-term Debt
Long-term debt outstanding	$ 0	$ 0
Cactus LLC | ABL Credit Facility | Line of Credit
Long-term Debt
Term of long term debt			5 years
Maximum borrowing capacity			$ 75,000,000
Cactus LLC | Letters of credit | Line of Credit
Long-term Debt
Maximum borrowing capacity			$ 15,000,000

Revenue - Disaggregated by Cate

Revenue - Disaggregated by Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 108,893	$ 66,548	$ 193,310	$ 220,687
Revenue as a percentage	100.00%	100.00%	100.00%	100.00%
Product revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 70,345	$ 40,893	$ 122,301	$ 127,924
Revenue as a percentage	65.00%	62.00%	63.00%	58.00%
Rental revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 14,644	$ 11,535	$ 27,133	$ 47,698
Revenue as a percentage	13.00%	17.00%	14.00%	22.00%
Field service and other revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 23,904	$ 14,120	$ 43,876	$ 45,065
Revenue as a percentage	22.00%	21.00%	23.00%	20.00%

Revenue - Contracts with Custom

Revenue - Contracts with Customers (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Contract Balances
Deferred revenue	$ 1	$ 1.1

Tax Receivable Agreement (TRA)

Tax Receivable Agreement (TRA) (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2018	Jun. 30, 2021	Dec. 31, 2020
Tax Receivable Agreement
Tax savings payable to TRA Holders	85.00%
Tax savings benefit recorded as APIC	15.00%
Total TRA liability		$ 285,200
Current portion of liability related to tax receivable agreement		$ 9,290	$ 9,290

Equity (Details)

Equity (Details) - USD ($)	Jun. 17, 2021	Mar. 12, 2021	Mar. 09, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jun. 30, 2021
Equity
Effect of CW Unit redemptions				$ 0		$ 0	$ 0	$ 0
TRA Liability Increase				33,100,000
Tax expense (benefit)				$ 1,355,000		$ 1,313,000	$ (2,704,000)	$ 8,810,000
Cash dividend declared (in dollars per share)				$ 0.09		$ 0.09	$ 0.18	$ 0.18
Cash dividend paid (in dollars per share)							$ 0.18
Additional Paid-In Capital
Equity
Effect of CW Unit redemptions				$ 26,912,000		$ 539,000	$ 71,911,000	$ 539,000
Non-controlling Interest
Equity
Effect of CW Unit redemptions				(26,949,000)		$ (540,000)	(72,011,000)	(540,000)
Restricted Stock
Equity
Dividends paid							$ 200,000	0
Cactus LLC
Equity
Ownership interest							76.70%		63.30%
Cactus Inc
Equity
Cash distributions to unit holders							$ 9,200,000	8,000,000
CW Unit Holders other than Cactus, Inc.
Equity
Pro rata distributions made to other members							3,600,000	4,700,000
CW Unit Holders other than Cactus, Inc. | Cactus LLC
Equity
CW Unit redemptions (in shares)	3,300,000
Common Units transferred (in shares)	944,093
Proceeds from issuance of common stock	$ 0
March 2021 Secondary Offering
Equity
TRA Liability Increase					$ 46,700,000
March 2021 Secondary Offering | Additional Paid-In Capital
Equity
Effect of CW Unit redemptions					45,000,000
March 2021 Secondary Offering | Non-controlling Interest
Equity
Effect of CW Unit redemptions					(45,000,000)
March 2021 Secondary Offering | Partial Valuation Allowance Release From Redemption Of Units
Equity
Tax expense (benefit)					$ (5,100,000)
March 2021 Secondary Offering | Other Nonoperating Income (Expense)
Equity
Proceeds from issuance of common stock		$ 0
Offering expenses				$ 400,000			$ 400,000			$ 400,000
Class A Common Stock
Equity
Common stock, shares outstanding (in shares)				58,038,000			58,038,000		47,713,000	58,038,000
Shares outstanding, percentage of total voting power				76.70%			76.70%			76.70%
Dividends declared and paid							$ 9,400,000	$ 8,600,000
Class A Common Stock | CW Unit Holders other than Cactus, Inc. | Cactus LLC
Equity
Shares issued (in shares)	3,300,000
Tax expense (benefit)	$ (3,000,000)
Class A Common Stock | Cactus Wellhead LLC Agreement
Equity
CW Unit redemptions (in shares)				425,433		74,413		74,413		42,900,000
Class A Common Stock | March 2021 Secondary Offering
Equity
CW Unit redemptions (in shares)		6,272,500
Shares issued (in shares)			6,325,000
Price of stock (in dollars per share)			$ 30.555
Other shares sold (in shares)		52,500
Class A Common Stock | Underwriter option
Equity
Shares granted in secondary offering (in shares)			825,000
Class B Common Stock
Equity
Common stock, shares outstanding (in shares)				17,665,000			17,665,000		27,655,000	17,665,000
Shares outstanding, percentage of total voting power				23.30%			23.30%			23.30%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income attributable to Cactus Inc.	$ 10,393	$ 6,028	$ 21,952	$ 25,011
Net income attributable to non-controlling interest	3,332	2,491	6,091	13,657
Net income attributable to Cactus Inc. - diluted	$ 13,725	$ 8,519	$ 28,043	$ 38,668
Denominator:
Effect of dilutive shares (in shares)	20,949	27,931	23,831	27,994
Corporate effective income tax rate, if-converted method	28.00%	26.00%	28.00%	26.00%
Class A Common Stock
Denominator:
Weighted average Class A Shares Outstanding - basic (in shares)	55,048	47,436	52,124	47,353
Weighted average Class A shares outstanding - diluted (in shares)	75,997	75,367	75,955	75,347
Earnings per Class A share - basic (in dollars per share)	$ 0.19	$ 0.13	$ 0.42	$ 0.53
Earnings per Class A share - diluted (in dollars per share)	$ 0.18	$ 0.11	$ 0.37	$ 0.51
Class B Common Stock
Denominator:
Effect of dilutive shares (in shares)	20,700	27,900	23,500	27,900