ProFrac Holding (ACDC) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Trading Symbol	ACDC
Entity Registrant Name	ProFrac Holding Corp.
Entity Central Index Key	0001881487
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		159,388,841
Entity File Number	001-41388
Entity Current Reporting Status	Yes
Entity Tax Identification Number	87-2424964
Entity Address, Address Line One	333 Shops Boulevard
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	Willow Park
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76087
City Area Code	254
Local Phone Number	776-3722
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Warrants
Document Information [Line Items]
Trading Symbol	ACDCW
Title of 12(b) Security	Warrants to purchase Class A common stock
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 25.1	$ 35.1
Accounts receivable, net	332.3	535.5
Accounts receivable - related party, net	6.5	2.1
Inventories	271.9	249.5
Prepaid expenses and other current assets	42.8	43.2
Total current assets	678.6	865.4
Property, plant, and equipment, net	1,845.4	1,396.4
Operating lease right-of-use assets, net	94.1	112.9
Goodwill	323.2	240.5
Intangible assets, net	182.3	203.1
Investments ($37.8 and $53.6 at fair value, respectively)	42.8	58.6
Deferred tax assets		0.4
Other assets	55.7	56.3
Total assets	3,222.1	2,933.6
Current liabilities:
Accounts payable	341.1	339.4
Accounts payable - related party	17.5	24
Accrued expenses	113	115.4
Current portion of long-term debt	122.8	127.6
Current portion of operating lease liabilities	31	36
Other current liabilities	70.8	25.7
Other current liabilities - related party	7.4
Total current liabilities	703.6	668.1
Long-term debt	902.1	735
Long-term debt - related party	32.2	62.8
Operating lease liabilities	67.8	81
Deferred tax liabilities	79.4
Other liabilities	75.2	36
Total liabilities	1,860.3	1,582.9
Temporary equity:
Series A preferred stock, $0.01 par value, 50 thousand shares authorized, 50 thousand and zero shares issued and outstanding, respectively	57.5
Redeemable noncontrolling interest		2,462.9
Stockholders' equity (deficit):
Preferred stock, $0.01 par value, 50.0 shares authorized, no shares issued and outstanding
Additional paid-in capital	1,171.3
Retained earnings (accumulated deficit)	77.5	(1,185.9)
Accumulated other comprehensive loss	(0.2)
Total stockholders' equity (deficit) attributable to ProFrac Holding Corp.	1,250.1	(1,184.4)
Noncontrolling interests	54.2	72.2
Total stockholders' equity (deficit)	1,304.3	(1,112.2)
Total liabilities, temporary equity, and stockholders' equity (deficit)	3,222.1	2,933.6
Common Class A
Stockholders' equity (deficit):
Common stock, value	1.5	0.5
Common Class B
Stockholders' equity (deficit):
Common stock, value	$ 0	$ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair value	$ 37.8	$ 53.6
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, authorized	50,000,000	50,000,000
Preferred shares, issued	0	0
Preferred shares, outstanding	0	0
Series A Preferred Stock
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, authorized	50,000,000	50,000,000
Preferred shares, issued	50,000,000	0
Preferred shares, outstanding	50,000,000	0
Preferred shares, par value	$ 0.01
Preferred shares, issued	50,000
Common Class A
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares, issued	159,400,000	53,900,000
Common stock, shares, outstanding	159,400,000	53,900,000
Common Class B
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares, issued	0	104,200,000
Common stock, shares, outstanding	0	104,200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues	$ 574.2	$ 696.7	$ 2,140.9	$ 1,631.5
Operating costs and expenses:
Cost of revenues, exclusive of depreciation, depletion and amortization	368.5	392	1,382.2	967.7
Selling, general, and administrative	61	64.5	209.2	169
Depreciation, depletion and amortization	111.5	69.1	330.7	178.1
Acquisition and integration costs	2.6	5.8	20.1	22.9
Other operating expense, net	10.1	0.6	17.8	6.6
Total operating costs and expenses	553.7	532	1,960	1,344.3
Operating income	20.5	164.7	180.9	287.2
Other (expense) income:
Interest expense, net	(40.2)	(16.3)	(116.1)	(39)
(Loss) gain on extinguishment of debt		(0.2)	4.1	(17.3)
Other (expense) income, net	(4.9)	(1)	(22)	8.2
(Loss) income before income taxes	(24.6)	147.2	46.9	239.1
Income tax benefit (expense)	6.7	(7.9)	(9.6)	(12.4)
Net (loss) income	(17.9)	139.3	37.3	226.7
Less: net income attributable to ProFrac Predecessor				(73.6)
Less: net (income) loss attributable to noncontrolling interests	(6.6)	11.8	(0.9)	20.1
Less: net income attributable to redeemable noncontrolling interests		(107.1)	(41.8)	(122.6)
Net (loss) income attributable to ProFrac Holding Corp.	(24.5)	44	(5.4)	50.6
Net (loss) income attributable to Class A common shareholders	$ (33.1)	$ 44	$ (14)	$ 50.6
Basic (Loss) earnings per Class A share	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24
Diluted (Loss) earnings per Class A share	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24
Weighted average Class A common shares outstanding, basic	159.4	41.2	121.3	40.8
Weighted average Class A common shares outstanding, diluted	159.4	41.3	121.3	40.9

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ (17.9)	$ 139.3	$ 37.3	$ 226.7
Other comprehensive (loss) income:
Foreign currency translation adjustments		0.2	(0.1)	0.1
Comprehensive (loss) income	(17.9)	139.5	37.2	226.8
Less: comprehensive income attributable to ProFrac Predecessor				(73.5)
Less: comprehensive (income) loss attributable to noncontrolling interest	(6.6)	11.7	(0.9)	20
Less: comprehensive income attributable to redeemable noncontrolling interest		(107.2)	(41.9)	(122.7)
Comprehensive (loss) income attributable to ProFrac Holding Corp.	$ (24.5)	$ 44	$ (5.6)	$ 50.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	IPO	Producers	Common Stock Class A Common Stock	Common Stock Class A Common Stock IPO	Common Stock Class A Common Stock Producers	Common Stock Class B Common Stock	Additional Paid-in Capital	Additional Paid-in Capital IPO	Additional Paid-in Capital Producers	(Accumulated Deficit) Retained Earnings	(Accumulated Deficit) Retained Earnings IPO	Accumulated Other Comprehensive Income	Noncontrolling Interests	Members' Equity
Beginning balance at Dec. 31, 2021	$ 148.1												$ 0.1	$ 1	$ 147
Member contributions	5														5
Deemed distribution	(3.7)														(3.7)
Stock issued for acquisition	72.9														72.9
Net (loss) income	20													0.4	19.6
Foreign currency translation	(0.1)												(0.1)
Ending balance at Mar. 31, 2022	242.2													1.4	240.8
Beginning balance at Dec. 31, 2021	148.1												0.1	1	147
Net (loss) income	226.7
Foreign currency translation	0.1
Ending balance at Sep. 30, 2022	(796.1)			$ 0.4			$ 1				$ (879.3)			81.8
Ending balance, Shares at Sep. 30, 2022				41,200,000			101,100,000
Beginning balance at Mar. 31, 2022	242.2													1.4	240.8
Stock-based compensation	0.8							$ 0.3						0.5
Stock-based compensation related to deemed contribution	11.3							11.3
Net income prior to corporate reorganization	54														54
Issuance of shares	1	$ 227.7			$ 0.2		$ 1		$ 227.5
Issuance of shares, Shares					18,200,000		101,100,000
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest	(377.5)			$ 0.2				(82.9)							$ (294.8)
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest, Shares				20,900,000
Class A shares issued to settle asset purchase	16.7							16.7
Class A shares issued to settle asset purchase, Shares				2,100,000
Net income (loss) after corporate reorganization	(2.1)										6.6			(8.7)
Recognition of Flotek noncontrolling interest	99.6													99.6
Additional paid-in capital related to tax receivable agreement	0.6							0.6
Adjustment of redeemable noncontrolling interest to redemption amount	(159.4)	$ (1,438.3)						(27.1)	$ (146.4)		(132.3)	$ (1,291.9)
Ending balance at Jun. 30, 2022	(1,323.4)			$ 0.4			$ 1				(1,417.6)			92.8
Ending balance, Shares at Jun. 30, 2022				41,200,000			101,100,000
Stock-based compensation	1.3							0.6						0.7
Stock-based compensation related to deemed contribution	3							3
Net income (loss)	32.2										44			(11.8)
Net (loss) income	139.3
Foreign currency translation	0.2
Foreign currency translation	0.1													0.1
Other	0.1							0.1
Adjustment of redeemable noncontrolling interest to redemption amount	(490.6)							3.7			(494.3)
Ending balance at Sep. 30, 2022	(796.1)			$ 0.4			$ 1				(879.3)			81.8
Ending balance, Shares at Sep. 30, 2022				41,200,000			101,100,000
Beginning balance at Dec. 31, 2022	(1,112.2)			$ 0.5			$ 1				(1,185.9)			72.2
Beginning balance, Shares at Dec. 31, 2022				53,900,000			104,200,000
Stock issued for acquisition			$ 9.6							$ 9.6
Stock issued for acquisition, shares						700,000
Stock-based compensation	1							0.9						0.1
Stock-based compensation related to deemed contribution	3.5							3.5
Net income (loss)	17.8										22			(4.2)
Foreign currency translation	0.2												0.1	0.1
Flotek common stock issued to satisfy convertible notes held by third parties/ ProFrac Holdings Corp	12.7													12.7
Adjustment of redeemable noncontrolling interest to redemption amount	1,268.2							(9.2)			1,277.4
Ending balance at Mar. 31, 2023	200.8			$ 0.5			$ 1	4.8			113.5		0.1	80.9
Ending balance, Shares at Mar. 31, 2023				54,600,000			104,200,000
Beginning balance at Dec. 31, 2022	(1,112.2)			$ 0.5			$ 1				(1,185.9)			72.2
Beginning balance, Shares at Dec. 31, 2022				53,900,000			104,200,000
Net (loss) income	37.3
Foreign currency translation	(0.1)
Ending balance at Sep. 30, 2023	1,304.3			$ 1.5				1,171.3			77.5		(0.2)	54.2
Ending balance, Shares at Sep. 30, 2023				159.4
Beginning balance at Mar. 31, 2023	200.8			$ 0.5			$ 1	4.8			113.5		0.1	80.9
Beginning balance, Shares at Mar. 31, 2023				54,600,000			104,200,000
Stock-based compensation	2.3							2.7						(0.4)
Stock-based compensation related to deemed contribution	6.8							6.8
Tax withholding related to net share settlement of equity awards	(0.8)							(0.8)
Deferred taxes related to Class B share conversion to Class A shares	(74.7)							(74.7)
Net income (loss)	(4.4)										(2.9)			(1.5)
Other comprehensive income (loss)	(0.4)												(0.3)	(0.1)
Adjustment of redeemable noncontrolling interest to redemption amount	(57.9)							(57.9)
Conversion of Class B common stock to Class A common stock	1,313.3			$ 1			$ (1)	1,313.3
Conversion of Class B common stock to Class A common stock, Shares				104,200,000			(104,200,000)
Flotek common stock issued to satisfy convertible notes held by third parties/ ProFrac Holdings Corp								31.6						(31.6)
Issuance of shares, Shares				600,000
Additional paid-in capital related to tax receivable agreement	(58.9)							(58.9)
Ending balance at Jun. 30, 2023	1,326.1			$ 1.5				1,166.9			110.6		(0.2)	47.3
Ending balance, Shares at Jun. 30, 2023				159,400,000
Beginning balance at Mar. 31, 2023	200.8			$ 0.5			$ 1	4.8			113.5		0.1	80.9
Beginning balance, Shares at Mar. 31, 2023				54,600,000			104,200,000
Ending balance at Sep. 30, 2023	1,304.3			$ 1.5				1,171.3			77.5		(0.2)	54.2
Ending balance, Shares at Sep. 30, 2023				159.4
Beginning balance at Jun. 30, 2023	1,326.1			$ 1.5				1,166.9			110.6		(0.2)	47.3
Beginning balance, Shares at Jun. 30, 2023				159,400,000
Stock-based compensation	2.3							2						0.3
Stock-based compensation related to deemed contribution	2.1							2.1
Deferred taxes related to Class B share conversion to Class A shares	(0.3)							(0.3)
Adjustment of Series A preferred stock to redemption amount	(8.6)										(8.6)
Net (loss) income	(17.9)										(24.5)			6.6
Ending balance at Sep. 30, 2023	$ 1,304.3			$ 1.5				$ 1,171.3			$ 77.5		$ (0.2)	$ 54.2
Ending balance, Shares at Sep. 30, 2023				159.4

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 37.3	$ 226.7
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion and amortization	330.7	178.1
Amortization of acquired contract liabilities	(41)
Stock-based compensation	27.3	53.3
(Gain) loss on disposal of assets, net	(0.3)	2.6
Non-cash (gain) loss on extinguishment of debt	(4.1)	10.5
Amortization of debt issuance costs	18.8	4.7
Acquisition earnout adjustment	(6.6)
Unrealized loss (gain) on investments, net	24.1	(8.5)
Deferred tax expense	5	2.4
Other non-cash items, net	0.1
Changes in operating assets and liabilities:
Accounts receivable	219.4	(220.5)
Inventories	(15.3)	(96.8)
Prepaid expenses and other assets	(5.3)	(18.6)
Accounts payable	(48.1)	6.3
Accrued expenses	6	110.6
Other liabilities	(37.2)	5.8
Net cash provided by operating activities	510.8	256.6
Cash flows from investing activities:
Acquisitions, net of cash acquired	(461.8)	(354.9)
Investment in property, plant & equipment	(233.9)	(239.5)
Proceeds from sale of assets	3	46.6
Investment in unconsolidated affiliate		(47.2)
Initial investment in Flotek		(10)
Other investments		(24.8)
Net cash used in investing activities	(692.7)	(629.8)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	334.7	818.8
Repayments of long-term debt	(98.6)	(515.8)
Borrowings from revolving credit agreements	1,219.9	253.7
Repayments to revolving credit agreements	(1,315.4)	(322.7)
Payment of debt issuance costs	(18.9)	(33.3)
Tax withholding related to net share settlement of equity awards	(0.8)
Member contribution		5
Proceeds from issuance of common stock		329.1
Payment of stock issuance costs		(27.4)
Payment of THRC related equity		(72.9)
Net cash provided by financing activities	169.8	434.5
Net (decrease) increase in cash, cash equivalents, and restricted cash	(12.1)	61.3
Cash, cash equivalents, and restricted cash beginning of period	37.9	5.4
Cash, cash equivalents, and restricted cash end of period	25.8	66.7
Non-cash investing and financing activities:
Capital expenditures included in accounts payable	42.2	26.5
Operating lease liabilities incurred from obtaining right-of-use assets	8.8	$ 45.4
Finance lease liabilities incurred from obtaining right-of-use assets	4.6
Series A Preferred Stock
Cash flows from financing activities:
Proceeds from issuance of Series A preferred stock	50
Payment of stock issuance costs	$ (1.1)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (24.5)	$ 44	$ (5.4)	$ 50.6

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	NOTE 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business ProFrac Holding Corp. ("ProFrac Corp.") is a vertically integrated and innovation-driven energy services holding company providing hydraulic fracturing, proppant production, other completion services and other complementary products and services to leading upstream oil and natural gas companies engaged in the exploration and production (“E&P”) of North American unconventional oil and natural gas resources. ProFrac Corp. operates in three business segments: stimulation services, proppant production and manufacturing. Our stimulation services segment owns and operates a fleet of mobile hydraulic fracturing units and other auxiliary equipment that generates revenue by providing stimulation services to our customers. Our proppant production segment provides proppant to oilfield service providers and E&P companies. Our manufacturing segment sells highly engineered, tight tolerance machined, assembled, and factory tested products such as high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends. Basis of Presentation On May 17, 2022, ProFrac Corp. completed its initial public offering and corporate reorganization and became the managing member of ProFrac Holdings, LLC ("ProFrac LLC"). The unaudited condensed consolidated financial statements presented herein prior to May 17, 2022 consist of the accounts of ProFrac LLC and its subsidiaries (the "Predecessors"). The unaudited condensed consolidated financial statements presented herein subsequent to May 17, 2022 include the accounts of ProFrac Corp. and those of its subsidiaries that are wholly-owned, controlled by it or a variable interest entity ("VIE") where it is the primary beneficiary. In these notes to the unaudited condensed consolidated financial statements, ProFrac Corp. and ProFrac LLC together are referred to as "we," "our" or "us." These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. We believe that the presentations and disclosures herein are adequate to make the information not misleading. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) for a fair statement of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in Item 8 "Financial Statements and Supplementary Data" of our Annual Report. All significant intercompany accounts and transactions have been eliminated in consolidation. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash are recorded in our unaudited condensed consolidated balance sheet as follows: September 30, December 31, Cash and cash equivalents $ 25.1 $ 35.1 Restricted cash included in prepaid expenses and other current assets 0.7 2.8 Total cash, cash equivalents, and restricted cash $ 25.8 $ 37.9 Concentrations of Risk Our business activities are concentrated in the well completion services segment of the oilfield services industry in the United States. The market for these services is cyclical, and we depend on the willingness of our customers to make operating and capital expenditures to explore for, develop, and produce oil and natural gas in the United States. The willingness of our customers to undertake these activities depends largely upon prevailing industry conditions that are predominantly influenced by current and expected prices for oil and natural gas. Historically, a low commodity-price environment has caused our customers to significantly reduce their hydraulic fracturing activities and the prices they are willing to pay for those services. During these periods, these customer actions materially adversely affected our business, financial condition and results of operations. New Accounting Standards to be Adopted In March 2023, the Financial Accounting Standards Board issued an accounting pronouncement (ASU 2023-01) related to accounting for leases between entities under common control. The amendments in this update clarify the accounting for leasehold improvements associated with common control leases. This update is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. We do not expect the update to have a material effect on our consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combinations [Abstract]
Acquisitions	NOTE 2. ACQUISITIONS On January 3, 2023, we acquired 100 % of the issued and outstanding membership interest of Producers Service Holdings LLC (“Producers”), an employee-owned pressure pumping services provider serving Appalachia and the Mid-Continent, for a total purchase consideration of $ 36.5 million, consisting of (i) Class A common stock valued at $ 12.9 million based on the acquisition date closing price of $ 21.40 ; (ii) cash consideration of $ 1.4 million; (iii) a working capital adjustment of $ 8.3 million paid in cash to the sellers of Producers in May 2023; and (iv) our pre-existing investment of $ 13.9 million. Throughout the six months ended June 30, 2023, we integrated Producers' operations. As a result, we track all stimulation services assets as one group and it would be impracticable to separately report Producers' revenues or pretax earnings subsequent to the acquisition. On February 24, 2023, we acquired 100 % of the issued and outstanding membership interests in (i) Performance Proppants, LLC, (ii) Red River Land Holdings, LLC, (iii) Performance Royalty, LLC, (iv) Performance Proppants International, LLC, and (v) Sunny Point Aggregates, LLC (together, “Performance Proppants”) for a total purchase consideration of $ 462.5 million, consisting of (i) Class A common stock valued at $ 6.2 million based on the acquisition date closing price of $ 19.67 ; (ii) cash consideration of $ 452.1 million; and (iii) the settlement of a pre-existing receivable of $ 4.2 million. Performance Proppants is a frac sand provider in the Haynesville basin . During the three months and nine months ended September 30, 2023, our unaudited condensed consolidated statements of operations include revenues of $ 59.3 million and $ 142.2 million, respectively, and pretax income of $ 25.5 million and $ 60.9 million, respectively, related to the Performance Proppants acquisition. We accounted for these acquisitions as business combinations. The following table reflects pro forma revenues and net income (loss) for the three and nine months ended September 30, 2023 and 2022 as if the 2022 and 2023 acquisitions had taken place on January 1, 2022. These unaudited pro forma amounts are not necessarily indicative of results that would have actually been obtained during the periods presented or that may be obtained in the future. Three Months Ended Nine Months Ended (unaudited) 2023 2022 2023 2022 Revenues $ 574.2 $ 894.6 $ 2,171.6 $ 2,230.0 Net income (loss) $ ( 17.9 ) $ 129.1 $ 44.7 $ 139.6 The following table represents our preliminary allocation of total purchase consideration of Producers and Performance Proppants to the identifiable assets acquired and liabilities assumed based on the fair values on their acquisition dates: Producers Performance Proppants Cash and cash equivalents $ 0.3 $ 2.0 Accounts receivable 7.5 14.8 Prepaid expenses and other assets 1.1 0.6 Inventories 2.8 7.5 Property, plant and equipment 29.5 476.9 Intangible assets — 5.6 Total identifiable assets acquired 41.2 507.4 Accounts payable 10.9 16.7 Accrued expenses 0.7 2.8 Current portion of long-term debt 0.2 2.1 Other current liabilities — 49.6 Non-current portion of debt 0.1 0.6 Other non-current liabilities — 42.3 Total liabilities assumed 11.9 114.1 Goodwill 7.2 69.2 Total purchase consideration $ 36.5 $ 462.5 We generally used the cost approach to value acquired property, plant and equipment adjusted for the age, condition and utility of the associated assets. The market approach valuation technique was used for assets that had comparable market data available. Included in Performance Proppants property, plant and equipment valuation is mineral reserves valued at $ 248.3 million using the income approach, which is predicated upon the value of the future cash flows that an asset will generate over its economic life. The intangible assets related to the Performance Proppants acquisition represent customer relationships and the fair value was determined using the with-and-without method which is an income approach and considers the time needed to rebuild the customer base. The amounts allocated to goodwill are attributable to the organized workforce and potential or expected synergies. The goodwill for Producers and Performance Proppants was recognized in the stimulation services and proppant production segments, respectively. We estimate that substantially all of the goodwill will be deductible for income tax purposes. The allocations of purchase price to the identifiable assets acquired and liabilities assumed for these acquisitions are preliminary and subject to revisions during the measurement period, up to one year from the date the acquisition closed. These determinations include the use of estimates based on information that was available at the time these unaudited condensed consolidated financial statements were prepared. We believe that the estimates used are reasonable; however, the estimates are subject to change as additional information becomes available. The changes in the carrying amount of goodwill by reportable segment were as follows: Stimulation Proppant Manufacturing Other Total Balances as of December 31, 2022 $ 153.3 $ 5.5 $ - $ 81.7 $ 240.5 Acquisition of Producers 7.2 - - - 7.2 Acquisition of Performance - 75.7 - - 75.7 Measurement period adjustments 4.7 ( 4.9 ) - - ( 0.2 ) Balances as of September 30, 2023 $ 165.2 $ 76.3 $ - $ 81.7 $ 323.2 The measurement period adjustments for the stimulation services segment included an adjustment to finalize the estimate for contingent liabilities at the acquisition date for our U.S. Well Services acquisition. The measurement period adjustments for the stimulation services segment included an adjustment to recognize a $ 5.3 million post-closing working capital adjustment related to our December 2022 acquisition of REV Energy Holdings, LLC ("REV"), which resulted in a reduction to the principal balance of our long-term debt payable to REV and a corresponding decrease to goodwill for the same amount. The measurement period adjustment for the Proppant production segment related to adjustments to working capital balances for our Performance Proppant acquisition.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	NOTE 3. INVENTORIES Inventory is comprised of the following: September 30, December 31, Raw materials and supplies $ 88.6 $ 78.7 Work in process 18.1 9.7 Finished products and parts 165.2 161.1 Total $ 271.9 $ 249.5

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	NOTE 4. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is comprised of the following: September 30, December 31, Machinery and equipment $ 2,098.0 $ 1,671.7 Mining property and mine development 420.3 172.1 Buildings and leasehold improvements 109.7 62.0 Land 56.8 44.3 Office equipment, software and other 11.9 7.3 Construction in progress 161.8 156.1 Total 2,858.5 2,113.5 Less: accumulated depreciation, depletion and amortization ( 1,013.1 ) ( 717.1 ) Property, plant, and equipment, net $ 1,845.4 $ 1,396.4

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	NOTE 5. ACCRUED EXPENSES Accrued expenses are comprised of the following: September 30, December 31, Employee compensation and benefits $ 26.1 $ 41.0 Sales, use, and property taxes 22.2 20.1 Insurance 8.2 7.4 Interest 21.6 17.5 Income taxes 4.6 0.7 Tax receivable agreement 3.3 3.3 Other 27.0 25.4 Total accrued expenses $ 113.0 $ 115.4

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-term Debt	NOTE 6. LONG-TERM DEBT Long-term debt is comprised of the following: September 30, December 31, Third party: Term loan $ 808.4 $ 519.2 ABL credit facility 135.5 234.3 Monarch note 65.6 87.5 First Financial loan 5.3 16.6 Flotek convertible notes — 12.7 Other 33.9 26.3 Related party: REV Note 12.2 39.0 Equify notes 20.0 23.8 Total principal amount 1,080.9 959.4 Less: unamortized debt discounts, premiums, and issuance costs ( 23.8 ) ( 34.0 ) Less: current portion of long-term debt ( 122.8 ) ( 127.6 ) Total long-term debt $ 934.3 $ 797.8 Term Loan Facility In February 2023, we amended the term loan facility to, among other things, increase the size of the term loan facility, and we borrowed $ 320.0 million under the facility to help fund our acquisition of Performance Proppants and for general corporate purposes. The term loan facility requires quarterly payments as well as payments based on a percentage of 25 % to 50 % of excess cash flow (as defined in the term loan facility). The applicable percentage of excess cash flow depends on our leverage ratio as of the last day of the applicable fiscal quarter. During the nine months ended September 30, 2023, we repaid $ 30.7 million of borrowings outstanding under our term loan facility. ABL Credit Facility In February 2023, we amended the ABL credit facility to, among other things, increase the maximum availability to $ 400.0 million. In April 2023 we amended the ABL credit facility to, among other things, increase the amount of permitted additional debt basket. In September 2023, we amended the ABL credit facility to, among other things, increase the amount of inventory that is allowed in the borrowing base. As of September 30, 2023, the maximum availability under the ABL credit facility was limited to our eligible borrowing base of $ 260.3 million with $ 135.5 million of borrowings outstanding and $ 8.8 million of letters of credit outstanding, resulting in approximately $ 116.0 million of remaining availability. Monarch Note During the nine months ended September 30, 2023, we made principal payments of $ 21.9 million on the Monarch Note. First Financial Loan During the nine months ended September 30, 2023, we made principal payments of $ 11.3 million on the First Financial Loan. Flotek Convertible Notes In February 2023, Flotek's convertible notes matured and all $ 12.7 million principal amount were converted to shares of Flotek common stock, which is classified as "Noncontrolling interests" in our unaudited condensed consolidated balance sheets. REV Note During the nine months ended September 30, 2023, we made principal payments of $ 21.5 million and had a working capital adjustment of $ 5.3 million on the REV Note. Equify Note During the nine months ended September 30, 2023, we made principal payments of $ 3.8 million on the Equify Note. Debt Compliance Both the term loan facility and the ABL credit facility contain certain customary representations and warranties and affirmative and negative covenants. As of September 30, 2023, we were in compliance with these covenants.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7. COMMITMENTS AND CONTINGENCIES Litigation In the ordinary course of business, we are the subject of, or party to a number of pending or threatened legal actions and administrative proceedings. While many of these matters involve inherent uncertainty, we believe that, other than as described below, the amount of the liability, if any, ultimately incurred with respect to proceedings or claims will not have a material adverse effect on our consolidated financial position as a whole or on our liquidity, capital resources or future annual results of operations. We estimate and provide for potential losses that may arise out of legal proceedings and claims to the extent that such losses are probable and can be reasonably estimated. Significant judgment is required in making these estimates and our final liabilities may ultimately be materially different from these estimates. When preparing our estimates, we consider, among other factors, the progress of each legal proceeding and claim, our experience and the experience of others in similar legal proceedings and claims, and the opinions and views of legal counsel. Legal costs related to litigation contingencies are expensed as incurred. U.S. Well Services Inc. and U.S. Well Services, LLC (collectively, “USWS”) v. Halliburton Company and Cimarex Energy Co. (collectively, “Halliburton”) In April 2021, USWS filed a patent infringement suit against Halliburton in United States District Court for the Western District of Texas Waco Division. In the suit, USWS alleges willful infringement of seven U.S. patents based on Halliburton’s “All-Electric Fracturing Fleet.” In August 2023, a jury returned a verdict in this case in favor of USWS, which Halliburton has indicated it intends to appeal. In June 2021, Halliburton filed inter partes review ("IPR") petitions against these USWS patents. In January 2023, the Patent Trial and Appeal Board (“PTAB”) entered final written decisions finding certain claims of these patents invalid. In March 2023, USWS filed a notice of appeal of the final written decisions invalidating certain claims of three of these patents. Other appeal deadlines remain open. In May 2023, the Western District of Texas ruled certain claims of five of the USWS patents are invalid. In May 2022, Halliburton filed an amended answer to this patent infringement suit counterclaiming for declaratory judgment of invalidity of USWS’ patents asserted against Halliburton in this matter and willful infringement of seven of Halliburton’s U.S. patents based on USWS’ clean fleets and conventional fleets. In June 2022, USWS filed IPR petitions against four of Halliburton’s patents. In December 2022, the PTAB denied institution of IPR against these four patents. The outcome of Halliburton’s counterclaim against us is uncertain and the ultimate resolution of it could have a material adverse effect on our unaudited condensed consolidated financial statements in the period in which the resolution is recorded. Halliburton Energy Services, Inc., Halliburton US Technologies, Inc., and Halliburton Group Technologies, Inc. (collectively, “Halliburton”) v. U.S. Well Services, LLC (“USWS”) In September 2022, Halliburton filed two patent infringement suits against USWS in United States District Court for the Western District of Texas Waco Division. In the first lawsuit, Halliburton alleges willful infringement of three of its previously asserted patents as well as five additional U.S. patents. In the second lawsuit, Halliburton alleges willful infringement of two of its previously asserted patents as well as five additional U.S. patents. Both lawsuits allege infringement based on all of USWS and ProFrac LLC's fleets. The two lawsuits are scheduled together and set for trial in June 2024. In January 2023, USWS filed amended answers to these patent infringement suits counterclaiming for declaratory judgment of invalidity of Halliburton’s patents asserted against USWS in this matter and willful infringement of two additional USWS’ U.S. patents based on Halliburton’s “All-Electric Fracturing Fleet.” In February 2023, Halliburton filed IPR petitions against these USWS patents. However, this case has been stayed pending resolution of certain IPRs filed by USWS. The outcomes of these cases are uncertain and the ultimate resolution of them could have a material adverse effect on our unaudited condensed consolidated financial statements in the period in which the resolution is recorded.

Preferred Stock

Preferred Stock	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Preferred Stock	NOTE 8. PREFERRED STOCK In September 2023, we issued and sold 50,000 shares of Series A preferred stock, par value $ 0.01 per share (the "Preferred Stock"), to two entities controlled by Mr. Dan Wilks and Mr. Farris Wilks. Mr. Dan Wilks and Mr. Farris Wilks are brothers and are the founders and principal stockholders of the Company. Their sons, Mr. Matthew D. Wilks and Mr. Johnathan Ladd Wilks are the Company’s Executive Chairman and Chief Executive Officer, respectively. The Preferred Stock was sold for aggregate consideration of $ 50.0 million, and resulted in net proceeds to the Company of $ 48.9 million after the payment of $ 1.1 million in issuance costs. The Preferred Stock ranks senior to our common stock with respect to dividend rights and distribution rights in the event of any liquidation, winding-up or dissolution of the Company. The amount that each share of Preferred Stock is entitled to in liquidation is equal to a liquidation preference. The liquidation preference initially equals the original issue price per share of $ 1,000.00 for each share of Preferred Stock and is increased as the result of any paid-in-kind dividends (“Liquidation Preference”). Whether or not declared by the board of directors and whether or not there are funds legally available for the payment of dividends, holders of outstanding shares of Preferred Stock shall be entitled to cumulative paid-in-kind dividends at a rate per share equal to an annual rate of 8 % on the then-applicable Liquidation Preference. Such dividends shall compound and be payable quarterly in arrears. Conversion Option After one year, the Preferred Stock holders will have the option to convert each Preferred Stock share into shares of our common stock at a conversion ratio. The conversion ratio is defined as the Liquidation Preference as of the date of the conversion divided by the conversion price of $ 20.00 , where such conversion price is subject to adjustment upon the occurrence of specified events set forth under terms of the Preferred Stock. Redemption Option The Preferred Stock is redeemable at the Company's option at any time. The redemption price per share is an amount in cash equal to the Liquidation Preference as of the date of redemption multiplied by 1.15 (“Redemption Amount”). At September 30, 2023, the Redemption Amount of the Preferred Stock would be $ 57.5 million. Change of Control Provision Upon a change of control, the Company will have the options to convert the Preferred Stock into common shares or to redeem the Preferred Stock for cash. If the Company elects to convert the Preferred Stock into common shares, it will do so at a conversion rate equal to the greater of: • The Liquidation Preference divided by $ 10.95 , or • T he Liquidation Preference divided by the 30-day volume-weighted average price (“VWAP”) of our common stock at the public announcement of the change of control transaction. If the Company elects to redeem the Preferred Stock for cash, it will pay out the greater of (1) the Liquidation Preference as of the date of such payment or (2) the amount such holder would receive in the change of control transaction if such share of Preferred Stock had been converted into a number of shares of common stock equal to the greater of: • The Liquidation Preference divided by $ 20.00 (which is subject to adjustment upon the occurrence of specified events set forth under the terms of the Preferred Stock), and • The Liquidation Preference divided by the 30-day VWAP of our common stock at the change of control date. Temporary Equity Classification The holders of the Preferred Stock are also common stockholders of the Company and collectively control our board of directors. Therefore, the Preferred Stock holders could direct the Company to redeem the Preferred Stock at any time. As a result, we have classified the Preferred Stock as temporary equity on our unaudited condensed consolidated balance sheets and have measured its carrying value at its maximum redemption value with a corresponding charge to retained earnings.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 30, 2023
Temporary Equity Disclosure [Abstract]
Redeemable Noncontrolling Interest	NOTE 9. REDEEMABLE NONCONTROLLING INTEREST ProFrac Corp.’s only material asset is an equity interest consisting of units representing limited liability company interests in ProFrac LLC (the “Units”). As the sole managing member of ProFrac LLC, ProFrac Corp. consolidates the financial results of ProFrac LLC and its subsidiaries and reports a noncontrolling interest related to the portion of Units not owned by ProFrac Corp. Historically, the holders of Units not owned by ProFrac Corp. also held shares of ProFrac Corp.’s Class B common stock, such that a single share of Class B common stock is issued for each Unit not owned by ProFrac Corp. Pursuant to the Third Amended and Restated Limited Liability Company Agreement of ProFrac LLC and the Second Amended and Restated Certificate of Incorporation of ProFrac Corp., certain members of ProFrac LLC have had the right to cause ProFrac LLC to redeem all or a portion of each such member's Units, together with the surrender of the same number of each such member's shares of Class B common stock, for an equivalent number of shares of Class A common stock or, at the election of our board of directors, cash. In connection with the exercise of such redemption, a corresponding number of shares of Class B common stock will be canceled. The redemption election is not considered to be within our control because the holders of Class B common stock and their affiliates control us through direct representation on our board of directors. As a result, we present the noncontrolling interests in ProFrac LLC as redeemable noncontrolling interests outside of permanent equity. In April 2023, all the eligible holders of the Units (the "Redeeming Members") submitted redemption notices with respect to all of their Units, representing an aggregate of 104.2 million ProFrac LLC units (the "Redeemed Units"), together with the surrender and delivery of the same number of shares of our Class B common stock. The Redeeming Members include entities owned or affiliated with ProFrac Corp.'s controlling stockholders, Mr. Dan Wilks and Mr. Farris Wilks, as well as Mr. Matthew D. Wilks, our Executive Chairman, an entity affiliated with Mr. Johnathan L. Wilks, our Chief Executive Officer, and Mr. Coy Randle, a member of our board of directors. In April 2023, we delivered a written notice to ProFrac LLC and the Redeeming Members setting forth our election to exercise our right to purchase directly and acquire the Redeemed Units, together with the surrender and delivery of the same number of shares of our Class B common stock from the Redeeming Members. We subsequently acquired the Redeemed Units from the Redeeming Members by issuing an aggregate of 101.1 million shares of Class A common stock on or about April 10, 2023 and the remaining 3.1 million shares on or about April 13, 2023. The surrendered shares of Class B common stock were canceled, and no shares of our Class B common stock remain issued and outstanding. The phrase "conversion of Class B common stock to Class A common stock" used throughout this document refers to the April 2023 transactions described above. Activity related to the redeemable noncontrolling interest is as follows: Balance as of December 31, 2022 $ 2,462.9 Class A shares issued in acquisitions 9.5 Net income 42.0 Stock-based compensation 1.9 Stock-based compensation related to deemed contribution 6.7 Foreign currency translation adjustments 0.1 Adjustment of redeemable noncontrolling interest to redemption amount (1) ( 1,268.2 ) Balance as of March 31, 2023 1,254.9 Net loss ( 0.2 ) Stock-based compensation 0.1 Stock-based compensation related to deemed contribution 0.6 Foreign currency translation adjustments — Adjustment of redeemable noncontrolling interest to redemption amount (2) 57.9 Conversion of Class B common stock to Class A common stock ( 1,313.3 ) Balance as of June 30, 2023 and September 30, 2023 $ — (1) Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $ 12.04 at March 31, 2023. (2) Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $ 12.60 at April 7, 2023.

Variable Interest Entity

Variable Interest Entity	9 Months Ended
	Sep. 30, 2023
Variable Interest Entity, Measure of Activity [Abstract]
Variable Interest Entity	NOTE 10. VARIABLE INTEREST ENTITY As a result of our investment in and contractual relationship with Flotek Industries, Inc. ("Flotek"), Flotek meets the definition of a VIE and we are the primary beneficiary. Accordingly, we have consolidated the operating results, assets and liabilities of Flotek. In May 2023, a portion of our Flotek convertible notes matured and were converted into 63.5 million shares of Flotek common stock. In September 2023, Flotek's shareholders approved a 6-for-1 reverse stock split. Also in September 2023, Flotek's shareholders approved the issuance of 4.2 million shares (post-split) of common stock to the Company to settle a prefunded warrant related to the February 2022 Flotek convertible notes held by the Company that matured in February 2023. As of September 30, 2023, we owned approximately 50.8 % of Flotek's outstanding common stock. As of September 30, 2023 and December 31, 2022, $ 66.1 million and $ 79.2 million, respectively, of Flotek's assets and $ 52.6 million and $ 72.0 million, respectively, of Flotek's liabilities are included in our unaudited condensed consolidated balance sheets. These amounts are exclusive of goodwill and are after intercompany eliminations. The assets of Flotek can only be used to settle its obligations and the creditors of Flotek have no recourse to our assets. Our exposure to Flotek is generally limited to the carrying value of our equity and variable interest.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	NOTE 11. REVENUE FROM CONTRACTS WITH CUSTOMERS We believe that disaggregating our revenue by reportable segment (see Note 16) provides the information necessary to understand the nature, amount, timing and uncertainty of our revenues and cash flows. Contract Balances with Customers Our contract assets are included in “Accounts receivable” in our unaudited condensed consolidated balance sheets. Accounts receivable consist of invoiced amounts or amounts for which we have a right to invoice based on services completed or products delivered. Our current and non-current contract liabilities are included in “Other current liabilities” and “Other liabilities,” respectively, in our unaudited condensed consolidated balance sheets. Our contract liabilities consist of deferred revenues from advance consideration received from customers related to future performance of service or delivery of products and off-market contract liabilities from unfavorable contracts recognized in connection with our business acquisitions in the Proppant Production segment. During the nine months ended September 30, 2023, we recorded off-market contract liabilities amounting to $ 85.0 million from the Performance Proppants acquisition (see Note 2). During the three months and nine months ended September 30, 2023, we recorded the related amortization of $ 16.4 million and $ 41.0 million, respectively, to revenue. As of September 30, 2023, our off-market contract liabilities amounted to $ 67.6 million and the related estimated future amortization to revenue is $ 16.5 million for the remainder of 2023, $ 43.5 million in 2024 and $ 7.6 million in 2025. Performance Obligations Certain of our Proppant Production contracts contain multiple performance obligations to provide a minimum quantity of proppant products to our customers in future periods. For these contracts, the transaction price is allocated to each performance obligation at estimated selling prices and we recognize revenue as we satisfy these performance obligations. As of September 30, 2023, the aggregate amount of transaction price allocated to unsatisfied performance obligations was $ 478.8 million, and we expect to perform these obligations and recognize revenue of $ 137.4 million for the remainder of 2023 , $203 .2 million in 2024 , $ 80.2 million in 2025 , $ 43.5 million in 2026 and $ 14.5 million in 2027 . We have elected the practical expedient permitting the exclusion of disclosing the value of unsatisfied performance obligations for Stimulation Services and Manufacturing contracts as these contracts have original contract terms of one year or less or we have the right to invoice for services performed.

Other Operating Expense, Net

Other Operating Expense, Net	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
Other Operating Expense, Net	NOTE 12. OTHER OPERATING EXPENSE, NET Other operating expense, net is comprised of the following: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Gain) loss on disposal of assets $ ( 1.3 ) $ 0.6 $ ( 0.3 ) $ 2.6 Litigation expenses and accruals for legal contingencies 10.3 — 23.5 4.0 Severance charges 1.1 — 1.1 — Acquisition earnout adjustment — — ( 6.6 ) — Provision for credit losses, net of recoveries — — 0.1 — Total $ 10.1 $ 0.6 $ 17.8 $ 6.6 (Gain) loss on disposal of assets, net consists of gains and losses on the sale of excess property, early equipment failures and other asset dispositions. Litigation expenses and accruals for legal contingencies generally represent legal and professional fees incurred in litigation as well as estimates for loss contingencies with regards to certain vendor disputes and litigation matters. In the nine months ended September 30, 2023, these costs represent litigation costs incurred in connection with a patent infringement lawsuit against Halliburton. See Note 7 for a discussion of significant litigation matters. Severance charges relate to the departure of two executives in the three months ended September 30, 2023. The acquisition earnout adjustment represents a decrease in the fair value of the contingent consideration related to our acquisition of REV in December 2022.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	NOTE 13. INCOME TAXES The Predecessors were organized as limited liability companies or a limited partnership and were treated as either a disregarded entity or a partnership for U.S. federal income tax purposes, whereby the ordinary business income or loss and certain deductions were passed-through and reported on the members’ income tax returns. As such, the Predecessors were not required to account for U.S. federal income taxes in the unaudited condensed consolidated financial statements. In connection with our initial public offering in May 2022, we reorganized and ProFrac LLC became partially owned by ProFrac Corp., a C-corporation. ProFrac Corp. is a taxable entity and is required to account for its income taxes under the asset and liability method for periods subsequent to May 17, 2022. We record income taxes for interim periods based on an estimated annual effective tax rate. The estimated annual effective rate is recomputed on a quarterly basis and may fluctuate due to changes in forecasted annual operating income, positive or negative changes to the valuation allowance for net deferred tax assets and changes to actual or forecasted permanent book to tax differences. Our effective tax rate for the nine months ended September 30, 2023 was 20.5 %, compared with 5.2 % in the same period in 2022. The difference between our effective tax rate and the federal statutory rate in 2022 related to the income that was earned within the financial statement consolidated group that is not subject to tax within the financial statement consolidated group. The conversion of our Class B common stock to Class A common stock (see Note 8) resulted in a shift from a net deferred tax asset position before the conversion to a net deferred tax liability position after the conversion. As of September 30, 2023, $ 74.4 million of our net deferred tax liability was associated with the conversion. The recognition of this net deferred tax liability was recorded as an equity transaction because the holders of Class B common stock and their affiliates control us through their Class A common stock holdings. Tax Receivable Agreement In connection with our initial public offering, ProFrac Corp. entered into a tax receivable agreement (the “TRA”) with certain holders of limited liability company interests in ProFrac LLC (the “TRA Holders”). The TRA generally provides for payment by ProFrac Corp. 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 ProFrac Corp. actually realizes (or is deemed to realize in certain circumstances) as a result of (i) certain increases in tax basis that occur as a result of ProFrac Corp.'s acquisition (or deemed acquisition for U.S. federal income tax purposes) of all or a portion of such TRA Holder’s ProFrac LLC units in connection with the initial public offering or the exercise of the Redemption Right (as defined in the TRA) or the Call Right (as defined in the TRA), and (ii) imputed interest deemed to be paid by ProFrac Corp. as a result of, and additional tax basis arising from, any payments ProFrac Corp. makes under the TRA. Payments will generally be made under the TRA as ProFrac Corp. realizes actual cash tax savings from the tax benefits covered by the TRA. As a result of the conversion of all our Class B common stock to Class A common stock (see Note 8) and the tax effect of this transaction, we recorded a $ 58.9 million noncurrent TRA liability. The recognition of the TRA liability was recorded as an equity transaction because the holders of Class B common stock and their affiliates control us through their Class A common stock holdings. As of September 30, 2023 , the current liability for our TRA obligation was an additional $ 3.3 million.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings per Share	NOTE 14. EARNINGS PER SHARE The calculation of earnings per share ("EPS") for our Class A common stock is as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net (loss) income attributable to ProFrac Holding Corp. $ ( 24.5 ) $ 44.0 $ ( 5.4 ) $ 50.6 Adjust Series A preferred stock to its maximum redemption value ( 8.6 ) — ( 8.6 ) — Net (loss) income used for basic earning per Class A common share ( 33.1 ) 44.0 ( 14.0 ) 50.6 Net loss reallocated to dilutive Class A common shares — — — — Net (loss) income used for diluted earnings per Class A common share $ ( 33.1 ) $ 44.0 $ ( 14.0 ) $ 50.6 Denominator: Weighted average Class A common shares 159.4 41.2 121.3 40.8 Dilutive potential of employee restricted stock units — 0.1 — 0.1 Weighted average Class A common shares — diluted 159.4 41.3 121.3 40.9 Basic and diluted (loss) earnings per Class A common share $ ( 0.21 ) $ 1.07 $ ( 0.12 ) $ 1.24 The dilutive potential of employee restricted stock units was calculated using the treasury stock method. At September 30, 2023, there were 0.2 million common stock equivalents related to employee restricted stock units that were not included in diluted earnings per share because the effect of their inclusion would be antidilutive. The dilutive potential of our Preferred Stock is calculated using the if-converted method. At September 30, 2023, there were 2.5 million common stock equivalents related to Preferred Stock that were not included in diluted earnings per share because the effect of their inclusion would be antidilutive.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 15. FAIR VALUE OF FINANCIAL INSTRUMENTS Recurring Measurements Our assets and liabilities measured at fair value on a recurring basis consist of the following: Fair Value Measurements Using Level 1 Level 2 Level 3 As of September 30, 2023: Assets — Investment in BPC $ — $ — $ 37.8 Liabilities: Earnout payment $ — $ — $ 0.0 Munger make-whole provision — — 8.8 Warrants 0.1 — — Total $ 0.1 $ — $ 8.8 As of December 31, 2022: Assets — Investment in BPC $ — $ — $ 53.6 Liabilities: Earnout payment $ — $ — $ 6.6 Munger make-whole provision — — 0.4 Warrants 1.1 — — Total $ 1.1 $ — $ 7.0 We have elected the fair value option to account for our investment in Basin Production and Completion LLC ("BPC") due to the complexities of the terms of the equity investment. The significant unobservable inputs used in the fair value measurement, which was valued using the income approach and the market approach, are forecasted results and a weighted-average cost of capital. The fair value of this asset is classified as "Investments" in our unaudited condensed consolidated balance sheets. The gains and losses from fair value changes are classified as "Other (expense) income, net" in our unaudited condensed consolidated statements of operations. The fair value of the earnout payment was estimated using a Black-Scholes model, adjusted for the capped amount of the earnout. The fair value was discounted using a company specific credit spread to account for the counterparty credit risk in making the payment. The significant unobservable inputs used in the fair value measurement are the risk-free rate, credit spread of the acquirer, discount rate, forecasted results and volatility. The fair value of the Munger make-whole provision was estimated using a Black-Scholes model. The significant unobservable inputs used in the fair value measurement are the risk-free rate and volatility. In May 2023, the expiration date of the Munger make-whole provision was extended until May 17, 2024. The following is a reconciliation of our recurring Level 3 fair value measurements: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Balance at beginning of period $ 34.1 $ 49.7 $ 46.6 $ — Acquisition of Flotek convertible notes — — — 20.0 Acquisition of investment in BPC — — — 47.2 Transfer of Investment in BPC to Level 3 fair value measurement — — — 4.2 Elimination of Flotek convertible notes at acquisition date — — — ( 30.2 ) Change in fair value of Level 3 fair value measurements ( 5.1 ) — ( 17.6 ) 8.5 Balance at end of period $ 29.0 $ 49.7 $ 29.0 $ 49.7 Nonrecurring Measurements We have certain assets and liabilities that are not measured at fair value on an ongoing basis but were subjected to fair value adjustments at the time of acquisition. These include long-lived assets and liabilities acquired through our business combination activities, the fair values of which were determined using applicable valuation models based on significant unobservable inputs classified as level 3 in the fair value hierarchy. See Note 2 for additional information. Financial Instruments The estimated fair values of our financial instruments have been determined at discrete points in time based on relevant market information. Our financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, certain investments, accounts payable, accrued expenses and long-term debt. The carrying amounts of our financial instruments other than long-term debt approximate fair value because of the short-term nature of the items. The carrying amounts of our term loan facility and ABL credit facility approximate fair value due to the variable interest rate. The fair value of our fixed rate debt, which includes the Monarch note, the REV note and the Equify note was as follows: September 30, December 31, Carrying amount of fixed rate debt $ 97.2 $ 142.7 Fair value of fixed rate debt $ 99.5 $ 142.5

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	NOTE 16. BUSINESS SEGMENTS We manage our business segments primarily on the type of product or services provided. We have three reportable segments which we operate within the United States of America: stimulation services, proppant production and manufacturing. Amounts in the other category reflect our business activities that are not separately reportable, which primarily includes Flotek for the periods presented. We evaluate the performance of our segments based on Adjusted EBITDA. We define Adjusted EBITDA as our net income (loss) before (i) interest expense, net, (ii) income taxes, (iii) depreciation, depletion and amortization, (iv) (loss) gain on disposal of assets, net, (v) stock-based compensation, and (vi) other charges, such as reorganization costs and other costs related to our initial public offering, certain credit losses, gain (loss) on extinguishment of debt, unrealized gain (loss) on investments, acquisition and integration expenses, litigation expenses and accruals for legal contingencies, acquisition earnout adjustments, and severance charges. Summarized financial information for our reportable segments is as follows: Stimulation Services Proppant Production Manufacturing Other Eliminations Total Three months ended September 30, 2023: Revenue External customers $ 485.4 $ 69.5 $ 1.5 $ 17.8 $ — $ 574.2 Intercompany 4.1 28.9 42.3 30.8 ( 106.1 ) — Total Revenue $ 489.5 $ 98.4 $ 43.8 $ 48.6 $ ( 106.1 ) $ 574.2 Adjusted EBITDA $ 93.3 $ 51.6 $ 1.6 $ 2.8 $ — $ 149.3 Three months ended September 30, 2022: Revenue External customers $ 668.3 $ 10.9 $ 2.3 $ 15.2 $ — $ 696.7 Intercompany 0.3 13.8 46.4 31.7 ( 92.2 ) — Total Revenue $ 668.6 $ 24.7 $ 48.7 $ 46.9 $ ( 92.2 ) $ 696.7 Adjusted EBITDA $ 249.5 $ 9.2 $ 4.5 $ ( 11.1 ) $ — $ 252.1 Nine months ended September 30, 2023: Revenue External customers $ 1,879.8 $ 200.7 $ 13.2 $ 47.2 $ — $ 2,140.9 Intercompany 8.1 89.7 128.8 102.3 ( 328.9 ) — Total Revenue $ 1,887.9 $ 290.4 $ 142.0 $ 149.5 $ ( 328.9 ) $ 2,140.9 Adjusted EBITDA $ 421.9 $ 150.7 $ 12.7 $ ( 6.4 ) $ — $ 578.9 Nine months ended September 30, 2022: Revenue External customers $ 1,578.9 $ 21.0 $ 10.4 $ 21.2 $ — $ 1,631.5 Intercompany 2.4 33.6 105.2 41.0 ( 182.2 ) — Total Revenue $ 1,581.3 $ 54.6 $ 115.6 $ 62.2 $ ( 182.2 ) $ 1,631.5 Adjusted EBITDA $ 519.3 $ 29.6 $ 17.4 $ ( 18.5 ) $ — $ 547.8 The following table reconciles total Adjusted EBITDA to net income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Adjusted EBITDA $ 149.3 $ 252.1 $ 578.9 $ 547.8 Interest expense, net ( 40.2 ) ( 16.3 ) ( 116.1 ) ( 39.0 ) Depreciation, depletion and amortization ( 111.5 ) ( 69.1 ) ( 330.7 ) ( 178.1 ) Income tax benefit (expense) 6.7 ( 7.9 ) ( 9.6 ) ( 12.4 ) Gain (loss) on disposal of assets, net 1.3 ( 0.6 ) 0.3 ( 2.6 ) (Loss) gain on extinguishment of debt — ( 0.2 ) 4.1 ( 17.3 ) Acquisition earnout adjustment — — 6.6 — Stock-based compensation ( 2.3 ) ( 2.7 ) ( 7.6 ) ( 4.2 ) Stock-based compensation related to deemed contributions ( 2.1 ) ( 10.2 ) ( 19.7 ) ( 49.1 ) Provision for credit losses, net of recoveries — — ( 0.1 ) — Severance charges ( 1.1 ) — ( 1.1 ) — Acquisition and integration costs ( 2.6 ) ( 5.8 ) ( 20.1 ) ( 22.9 ) Litigation expenses and accruals for legal contingencies ( 10.3 ) — ( 23.5 ) ( 4.0 ) Unrealized (loss) gain on investments, net ( 5.1 ) — ( 24.1 ) 8.5 Net (loss) income $ ( 17.9 ) $ 139.3 $ 37.3 $ 226.7 Segments assets are comprised of the following: September 30, December 31, Total assets: Stimulation Services $ 2,909.3 $ 2,647.9 Proppant Production 1,126.7 477.1 Manufacturing 224.3 140.5 Other 182.5 193.7 Total segment assets 4,442.8 3,459.2 Eliminations ( 1,220.7 ) ( 525.6 ) Total assets $ 3,222.1 $ 2,933.6

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related party transactions	NOTE 17. RELATED PARTY TRANSACTIONS In the normal course of business, we have entered into transactions with related parties where Mr. Dan Wilks and Mr. Farris Wilks and entities owned by or affiliated with them (collectively, the "Wilks Parties") hold a controlling financial interest. During the three and nine months ended September 30, 2023 and 2022, we had related party transactions with the following related party entities: • Automatize, LLC (“Automatize”) is a logistics broker that facilitates the last-mile delivery of proppants on behalf of its customers. Amounts paid to Automatize include costs passed through to third-party trucking companies and a commission retained by Automatize. These payments are recorded in cost of revenues, exclusive of depreciation and depletion in our unaudited condensed consolidated statements of operations. • Cisco Logistics, LLC (“Cisco Logistics”) is a logistics company that delivers sand and equipment on behalf of its customers. Amounts paid to Cisco Logistics are recorded in cost of revenues, exclusive of depreciation and depletion in our unaudited condensed consolidated statements of operations. • Equify Financial, LLC (“Equify Financial”) is a finance company that provides equipment and other financing to its customers. Amounts paid to Equify Financial are recorded in interest expense in our unaudited condensed consolidated statements of operations. • Wilks Brothers, LLC (“Wilks Brothers”) is a management company which provides administrative support to various businesses within its portfolio. Wilks Brothers and certain entities under its control will at times incur expenses on behalf of us, billing us for these expenses at cost as well as certain management fees. Amounts paid to Wilks Brothers are generally recorded in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations. • Interstate Explorations, LLC (“Interstate”) is an exploration and development company for which we perform pressure pumping services, and from which we have a short-term lease for certain office space. • Flying A Pump Services, LLC (“Flying A”) is an oilfield services company which provides pressure pumping, acid and cementing services, to which we rent and sell equipment and frac fleet components. • MC Estates, LLC, The Shops at Willow Park, and FTSI Industrial, LLC (collectively, the “Related Lessors”) own various industrial parks and office space leased by us. Amounts paid to the Related Lessors are recorded in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations. • Wilks Construction Company, LLC (“Wilks Construction”) is a construction company that has built and made renovations to several buildings for us, including construction of a new sand plant. Amounts paid to Wilks Construction are recorded as capital expenditures. • 3 Twenty-Three, LLC (“3 Twenty-Three”) is a payroll administrator which performs payroll services on behalf of its customers, including us. Amounts paid to 3 Twenty-Three are recorded in cost of revenues, exclusive of depreciation and depletion and selling, general and administrative expenses in our unaudited condensed consolidated statements of operations. • Wilks Earthworks, LLC ("Wilks Earthworks") is an oilfield services company providing mining, wet and dry loading, hauling and other equipment to its customers, including us. • Carbo Ceramics Inc. (“Carbo”) is a provider of ceramic proppant which will at times purchase conventional proppant from us to act as a broker for its customers. Additionally, we will at times purchase manufactured proppant from Carbo for the stimulation services segment. • FHE USA LLC (“FHE”) is a provider of production and well completion equipment used at the wellsite. Amounts paid to FHE are recorded as capital expenditures. The following table summarizes revenue from related parties: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Flying A $ 30.6 $ 1.3 $ 34.8 $ 3.2 Carbo — — 0.7 0.8 Total $ 30.6 $ 1.3 $ 35.5 $ 4.0 The following table summarizes expenditures with related parties: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Automatize $ 28.0 $ 22.4 $ 117.8 $ 72.3 FHE 2.0 4.0 3.0 11.3 Wilks Brothers 2.1 5.5 14.3 14.3 Related Lessors 3.3 1.9 10.2 6.5 Wilks Construction — 9.3 6.8 22.7 Wilks Earthworks 1.7 — 6.5 — Equify Financial 2.2 — 6.6 1.0 3 Twenty-Three — — 1.3 0.2 Carbo — 0.9 1.0 1.0 Other — — — 0.1 Total $ 39.3 $ 44.0 $ 167.5 $ 129.4 The following table summarizes accounts receivable–related party: September 30, December 31, Flying A $ 5.6 $ 1.5 Carbo 0.5 0.1 Interstate 0.4 0.3 Other — 0.2 Total accounts receivable — related party $ 6.5 $ 2.1 The following table summarizes accounts payable–related party: September 30, December 31, Automatize $ 10.9 $ 8.8 Wilks Brothers 4.1 7.1 Wilks Construction — 7.9 Wilks Earthworks 0.4 — Related Lessors 0.9 — Equify 0.7 — Carbo 0.5 0.2 Total accounts payable — related party $ 17.5 $ 24.0 On January 11, 2023, our board of directors approved the appointment of Mr. Coy Randle, our then Chief Operating Officer, to our board of directors. Additionally, Mr. Randle entered into a consulting agreement with us, effective as of January 13, 2023, pursuant to which Mr. Randle agreed to provide us with general operational advice for an annual fee of $ 0.2 million. Pursuant to the consulting agreement, we will also pay healthcare insurance premiums on behalf of Mr. Randle and will allow Mr. Randle to use a company vehicle for the duration of the consulting agreement. The consulting agreement has a term of one (1) year and will renew automatically for one (1) additional year unless either party notifies the other in writing at least sixty (60) days prior to the initial one (1) year termination date. In June 2023, we arranged to sell certain surplus equipment and inventory components and to assign certain pre-orders for equipment to Flying A, at prices which we believe to be fair market value, for a total consideration of $ 36.3 million. We received the proceeds from this sale in June 2023. Subsequent to June 30, 2023, Flying A requested changes to the mix of the assets being sold to it by the Company without altering the total consideration, and the Company and Flying A agreed to add to the transaction agreement a most favored nation clause on pricing and a condition to closing that the Company’s Audit Committee approve the final mix of assets to be transferred to Flying A. We delivered $ 28.9 million of these components to Flying A in the three months ended September 30, 2023. We expect to deliver the remaining components to Flying A in the fourth quarter of 2023. We accounted for this transaction as a related party deposit presented as "Other current liabilities - related party" in our unaudited condensed consolidated balance sheet. In September 2023, Robert Willette resigned as our Chief Legal Officer, Chief Compliance Officer, and Corporate Secretary. We entered into a severance agreement with Mr. Willette, pursuant to which, among other things, Mr. Willette received a severance payment of $ 673 thousand and which contains, among other standard provisions, a general release and waiver of claims against the Company by Mr. Willette. A copy of the Willette Severance Agreement is filed as Exhibit 10.1 hereto and is hereby incorporated by reference herein. In September 2023, the Company entered into a purchase agreement with THRC Holdings, LP and FARJO Holdings, LP, pursuant to which the Company issued and sold 50,000 shares of Preferred Stock for gross proceeds of $ 50.0 million. THRC Holdings, LP and FARJO Holdings, LP are Wilks Parties. For more information, see Note 8 to these unaudited condensed consolidated financial statements.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation On May 17, 2022, ProFrac Corp. completed its initial public offering and corporate reorganization and became the managing member of ProFrac Holdings, LLC ("ProFrac LLC"). The unaudited condensed consolidated financial statements presented herein prior to May 17, 2022 consist of the accounts of ProFrac LLC and its subsidiaries (the "Predecessors"). The unaudited condensed consolidated financial statements presented herein subsequent to May 17, 2022 include the accounts of ProFrac Corp. and those of its subsidiaries that are wholly-owned, controlled by it or a variable interest entity ("VIE") where it is the primary beneficiary. In these notes to the unaudited condensed consolidated financial statements, ProFrac Corp. and ProFrac LLC together are referred to as "we," "our" or "us." These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. We believe that the presentations and disclosures herein are adequate to make the information not misleading. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) for a fair statement of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in Item 8 "Financial Statements and Supplementary Data" of our Annual Report. All significant intercompany accounts and transactions have been eliminated in consolidation.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash are recorded in our unaudited condensed consolidated balance sheet as follows: September 30, December 31, Cash and cash equivalents $ 25.1 $ 35.1 Restricted cash included in prepaid expenses and other current assets 0.7 2.8 Total cash, cash equivalents, and restricted cash $ 25.8 $ 37.9
Concentrations of Risk	Concentrations of Risk Our business activities are concentrated in the well completion services segment of the oilfield services industry in the United States. The market for these services is cyclical, and we depend on the willingness of our customers to make operating and capital expenditures to explore for, develop, and produce oil and natural gas in the United States. The willingness of our customers to undertake these activities depends largely upon prevailing industry conditions that are predominantly influenced by current and expected prices for oil and natural gas. Historically, a low commodity-price environment has caused our customers to significantly reduce their hydraulic fracturing activities and the prices they are willing to pay for those services. During these periods, these customer actions materially adversely affected our business, financial condition and results of operations.
New Accounting Standards to be Adopted	New Accounting Standards to be Adopted In March 2023, the Financial Accounting Standards Board issued an accounting pronouncement (ASU 2023-01) related to accounting for leases between entities under common control. The amendments in this update clarify the accounting for leasehold improvements associated with common control leases. This update is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. We do not expect the update to have a material effect on our consolidated financial statements.

Description of Business and B_3

Description of Business and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash, Cash Equivalents, and Restricted Cash	Cash, cash equivalents, and restricted cash are recorded in our unaudited condensed consolidated balance sheet as follows: September 30, December 31, Cash and cash equivalents $ 25.1 $ 35.1 Restricted cash included in prepaid expenses and other current assets 0.7 2.8 Total cash, cash equivalents, and restricted cash $ 25.8 $ 37.9

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Acquisition [Line Items]
Summary of Unaudited Pro Forma Results of Operations	These unaudited pro forma amounts are not necessarily indicative of results that would have actually been obtained during the periods presented or that may be obtained in the future. Three Months Ended Nine Months Ended (unaudited) 2023 2022 2023 2022 Revenues $ 574.2 $ 894.6 $ 2,171.6 $ 2,230.0 Net income (loss) $ ( 17.9 ) $ 129.1 $ 44.7 $ 139.6
Summary of Preliminary Allocation of Total Purchase Consideration	The following table represents our preliminary allocation of total purchase consideration of Producers and Performance Proppants to the identifiable assets acquired and liabilities assumed based on the fair values on their acquisition dates: Producers Performance Proppants Cash and cash equivalents $ 0.3 $ 2.0 Accounts receivable 7.5 14.8 Prepaid expenses and other assets 1.1 0.6 Inventories 2.8 7.5 Property, plant and equipment 29.5 476.9 Intangible assets — 5.6 Total identifiable assets acquired 41.2 507.4 Accounts payable 10.9 16.7 Accrued expenses 0.7 2.8 Current portion of long-term debt 0.2 2.1 Other current liabilities — 49.6 Non-current portion of debt 0.1 0.6 Other non-current liabilities — 42.3 Total liabilities assumed 11.9 114.1 Goodwill 7.2 69.2 Total purchase consideration $ 36.5 $ 462.5
Summary of Changes in Carrying Amount of Goodwill by Reportable Segment	The changes in the carrying amount of goodwill by reportable segment were as follows: Stimulation Proppant Manufacturing Other Total Balances as of December 31, 2022 $ 153.3 $ 5.5 $ - $ 81.7 $ 240.5 Acquisition of Producers 7.2 - - - 7.2 Acquisition of Performance - 75.7 - - 75.7 Measurement period adjustments 4.7 ( 4.9 ) - - ( 0.2 ) Balances as of September 30, 2023 $ 165.2 $ 76.3 $ - $ 81.7 $ 323.2

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventory is comprised of the following: September 30, December 31, Raw materials and supplies $ 88.6 $ 78.7 Work in process 18.1 9.7 Finished products and parts 165.2 161.1 Total $ 271.9 $ 249.5

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Comprised of Property Plant and Equipment Net	Property, plant and equipment, net is comprised of the following: September 30, December 31, Machinery and equipment $ 2,098.0 $ 1,671.7 Mining property and mine development 420.3 172.1 Buildings and leasehold improvements 109.7 62.0 Land 56.8 44.3 Office equipment, software and other 11.9 7.3 Construction in progress 161.8 156.1 Total 2,858.5 2,113.5 Less: accumulated depreciation, depletion and amortization ( 1,013.1 ) ( 717.1 ) Property, plant, and equipment, net $ 1,845.4 $ 1,396.4

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses are comprised of the following: September 30, December 31, Employee compensation and benefits $ 26.1 $ 41.0 Sales, use, and property taxes 22.2 20.1 Insurance 8.2 7.4 Interest 21.6 17.5 Income taxes 4.6 0.7 Tax receivable agreement 3.3 3.3 Other 27.0 25.4 Total accrued expenses $ 113.0 $ 115.4

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Components of Long-term Debt	Long-term debt is comprised of the following: September 30, December 31, Third party: Term loan $ 808.4 $ 519.2 ABL credit facility 135.5 234.3 Monarch note 65.6 87.5 First Financial loan 5.3 16.6 Flotek convertible notes — 12.7 Other 33.9 26.3 Related party: REV Note 12.2 39.0 Equify notes 20.0 23.8 Total principal amount 1,080.9 959.4 Less: unamortized debt discounts, premiums, and issuance costs ( 23.8 ) ( 34.0 ) Less: current portion of long-term debt ( 122.8 ) ( 127.6 ) Total long-term debt $ 934.3 $ 797.8

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2023
Temporary Equity Disclosure [Abstract]
Schedule of Redeemable Noncontrolling Interest	Activity related to the redeemable noncontrolling interest is as follows: Balance as of December 31, 2022 $ 2,462.9 Class A shares issued in acquisitions 9.5 Net income 42.0 Stock-based compensation 1.9 Stock-based compensation related to deemed contribution 6.7 Foreign currency translation adjustments 0.1 Adjustment of redeemable noncontrolling interest to redemption amount (1) ( 1,268.2 ) Balance as of March 31, 2023 1,254.9 Net loss ( 0.2 ) Stock-based compensation 0.1 Stock-based compensation related to deemed contribution 0.6 Foreign currency translation adjustments — Adjustment of redeemable noncontrolling interest to redemption amount (2) 57.9 Conversion of Class B common stock to Class A common stock ( 1,313.3 ) Balance as of June 30, 2023 and September 30, 2023 $ — (1) Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $ 12.04 at March 31, 2023. (2) Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $ 12.60 at April 7, 2023.

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	Other operating expense, net is comprised of the following: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (Gain) loss on disposal of assets $ ( 1.3 ) $ 0.6 $ ( 0.3 ) $ 2.6 Litigation expenses and accruals for legal contingencies 10.3 — 23.5 4.0 Severance charges 1.1 — 1.1 — Acquisition earnout adjustment — — ( 6.6 ) — Provision for credit losses, net of recoveries — — 0.1 — Total $ 10.1 $ 0.6 $ 17.8 $ 6.6

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The calculation of earnings per share ("EPS") for our Class A common stock is as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net (loss) income attributable to ProFrac Holding Corp. $ ( 24.5 ) $ 44.0 $ ( 5.4 ) $ 50.6 Adjust Series A preferred stock to its maximum redemption value ( 8.6 ) — ( 8.6 ) — Net (loss) income used for basic earning per Class A common share ( 33.1 ) 44.0 ( 14.0 ) 50.6 Net loss reallocated to dilutive Class A common shares — — — — Net (loss) income used for diluted earnings per Class A common share $ ( 33.1 ) $ 44.0 $ ( 14.0 ) $ 50.6 Denominator: Weighted average Class A common shares 159.4 41.2 121.3 40.8 Dilutive potential of employee restricted stock units — 0.1 — 0.1 Weighted average Class A common shares — diluted 159.4 41.3 121.3 40.9 Basic and diluted (loss) earnings per Class A common share $ ( 0.21 ) $ 1.07 $ ( 0.12 ) $ 1.24 The dilutive potential of employee restricted stock units was calculated using the treasury stock method. At September 30, 2023, there were 0.2 million common stock equivalents related to employee restricted stock units that were not included in diluted earnings per share because the effect of their inclusion would be antidilutive. The dilutive potential of our Preferred Stock is calculated using the if-converted method. At September 30, 2023, there were 2.5 million common stock equivalents related to Preferred Stock that were not included in diluted earnings per share because the effect of their inclusion would be antidilutive.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	Our assets and liabilities measured at fair value on a recurring basis consist of the following: Fair Value Measurements Using Level 1 Level 2 Level 3 As of September 30, 2023: Assets — Investment in BPC $ — $ — $ 37.8 Liabilities: Earnout payment $ — $ — $ 0.0 Munger make-whole provision — — 8.8 Warrants 0.1 — — Total $ 0.1 $ — $ 8.8 As of December 31, 2022: Assets — Investment in BPC $ — $ — $ 53.6 Liabilities: Earnout payment $ — $ — $ 6.6 Munger make-whole provision — — 0.4 Warrants 1.1 — — Total $ 1.1 $ — $ 7.0
Reconciliation of Recurring Level 3 Fair Value Measurements	The following is a reconciliation of our recurring Level 3 fair value measurements: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Balance at beginning of period $ 34.1 $ 49.7 $ 46.6 $ — Acquisition of Flotek convertible notes — — — 20.0 Acquisition of investment in BPC — — — 47.2 Transfer of Investment in BPC to Level 3 fair value measurement — — — 4.2 Elimination of Flotek convertible notes at acquisition date — — — ( 30.2 ) Change in fair value of Level 3 fair value measurements ( 5.1 ) — ( 17.6 ) 8.5 Balance at end of period $ 29.0 $ 49.7 $ 29.0 $ 49.7
Summary of Carrying Amounts and Fair Value of Financial Instruments	The carrying amounts of our term loan facility and ABL credit facility approximate fair value due to the variable interest rate. The fair value of our fixed rate debt, which includes the Monarch note, the REV note and the Equify note was as follows: September 30, December 31, Carrying amount of fixed rate debt $ 97.2 $ 142.7 Fair value of fixed rate debt $ 99.5 $ 142.5

Business Segments (Table)

Business Segments (Table)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Summary of Financial Information for Reportable Segments	Summarized financial information for our reportable segments is as follows: Stimulation Services Proppant Production Manufacturing Other Eliminations Total Three months ended September 30, 2023: Revenue External customers $ 485.4 $ 69.5 $ 1.5 $ 17.8 $ — $ 574.2 Intercompany 4.1 28.9 42.3 30.8 ( 106.1 ) — Total Revenue $ 489.5 $ 98.4 $ 43.8 $ 48.6 $ ( 106.1 ) $ 574.2 Adjusted EBITDA $ 93.3 $ 51.6 $ 1.6 $ 2.8 $ — $ 149.3 Three months ended September 30, 2022: Revenue External customers $ 668.3 $ 10.9 $ 2.3 $ 15.2 $ — $ 696.7 Intercompany 0.3 13.8 46.4 31.7 ( 92.2 ) — Total Revenue $ 668.6 $ 24.7 $ 48.7 $ 46.9 $ ( 92.2 ) $ 696.7 Adjusted EBITDA $ 249.5 $ 9.2 $ 4.5 $ ( 11.1 ) $ — $ 252.1 Nine months ended September 30, 2023: Revenue External customers $ 1,879.8 $ 200.7 $ 13.2 $ 47.2 $ — $ 2,140.9 Intercompany 8.1 89.7 128.8 102.3 ( 328.9 ) — Total Revenue $ 1,887.9 $ 290.4 $ 142.0 $ 149.5 $ ( 328.9 ) $ 2,140.9 Adjusted EBITDA $ 421.9 $ 150.7 $ 12.7 $ ( 6.4 ) $ — $ 578.9 Nine months ended September 30, 2022: Revenue External customers $ 1,578.9 $ 21.0 $ 10.4 $ 21.2 $ — $ 1,631.5 Intercompany 2.4 33.6 105.2 41.0 ( 182.2 ) — Total Revenue $ 1,581.3 $ 54.6 $ 115.6 $ 62.2 $ ( 182.2 ) $ 1,631.5 Adjusted EBITDA $ 519.3 $ 29.6 $ 17.4 $ ( 18.5 ) $ — $ 547.8 The following table reconciles total Adjusted EBITDA to net income: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Adjusted EBITDA $ 149.3 $ 252.1 $ 578.9 $ 547.8 Interest expense, net ( 40.2 ) ( 16.3 ) ( 116.1 ) ( 39.0 ) Depreciation, depletion and amortization ( 111.5 ) ( 69.1 ) ( 330.7 ) ( 178.1 ) Income tax benefit (expense) 6.7 ( 7.9 ) ( 9.6 ) ( 12.4 ) Gain (loss) on disposal of assets, net 1.3 ( 0.6 ) 0.3 ( 2.6 ) (Loss) gain on extinguishment of debt — ( 0.2 ) 4.1 ( 17.3 ) Acquisition earnout adjustment — — 6.6 — Stock-based compensation ( 2.3 ) ( 2.7 ) ( 7.6 ) ( 4.2 ) Stock-based compensation related to deemed contributions ( 2.1 ) ( 10.2 ) ( 19.7 ) ( 49.1 ) Provision for credit losses, net of recoveries — — ( 0.1 ) — Severance charges ( 1.1 ) — ( 1.1 ) — Acquisition and integration costs ( 2.6 ) ( 5.8 ) ( 20.1 ) ( 22.9 ) Litigation expenses and accruals for legal contingencies ( 10.3 ) — ( 23.5 ) ( 4.0 ) Unrealized (loss) gain on investments, net ( 5.1 ) — ( 24.1 ) 8.5 Net (loss) income $ ( 17.9 ) $ 139.3 $ 37.3 $ 226.7 Segments assets are comprised of the following: September 30, December 31, Total assets: Stimulation Services $ 2,909.3 $ 2,647.9 Proppant Production 1,126.7 477.1 Manufacturing 224.3 140.5 Other 182.5 193.7 Total segment assets 4,442.8 3,459.2 Eliminations ( 1,220.7 ) ( 525.6 ) Total assets $ 3,222.1 $ 2,933.6

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Summary of Related Party Transactions	The following table summarizes revenue from related parties: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Flying A $ 30.6 $ 1.3 $ 34.8 $ 3.2 Carbo — — 0.7 0.8 Total $ 30.6 $ 1.3 $ 35.5 $ 4.0 The following table summarizes expenditures with related parties: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Automatize $ 28.0 $ 22.4 $ 117.8 $ 72.3 FHE 2.0 4.0 3.0 11.3 Wilks Brothers 2.1 5.5 14.3 14.3 Related Lessors 3.3 1.9 10.2 6.5 Wilks Construction — 9.3 6.8 22.7 Wilks Earthworks 1.7 — 6.5 — Equify Financial 2.2 — 6.6 1.0 3 Twenty-Three — — 1.3 0.2 Carbo — 0.9 1.0 1.0 Other — — — 0.1 Total $ 39.3 $ 44.0 $ 167.5 $ 129.4 The following table summarizes accounts receivable–related party: September 30, December 31, Flying A $ 5.6 $ 1.5 Carbo 0.5 0.1 Interstate 0.4 0.3 Other — 0.2 Total accounts receivable — related party $ 6.5 $ 2.1 The following table summarizes accounts payable–related party: September 30, December 31, Automatize $ 10.9 $ 8.8 Wilks Brothers 4.1 7.1 Wilks Construction — 7.9 Wilks Earthworks 0.4 — Related Lessors 0.9 — Equify 0.7 — Carbo 0.5 0.2 Total accounts payable — related party $ 17.5 $ 24.0

Description of Business and B_4

Description of Business and Basis of Presentation - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 25.1	$ 35.1
Restricted cash included in prepaid expenses and other current assets	0.7	2.8
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 25.8	$ 37.9	$ 66.7	$ 5.4

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended				9 Months Ended
	Feb. 24, 2023	Jan. 13, 2023	Jan. 03, 2023	May 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenues					$ 574,200		$ 696,700		$ 2,140,900	$ 1,631,500
Pretax earnings					(24,600)		147,200		46,900	239,100
Goodwill					323,200				323,200			$ 240,500
Severance costs					1,100				1,100
Noncash income					(4,900)		$ (1,000)		(22,000)	$ 8,200
Preferred stock aggregate consideration
Noncontrolling interests					54,200				54,200			72,200
Property, plant and equipment					1,845,400				1,845,400			1,396,400
Fair value of fixed rate debt					$ 99,500				99,500			$ 142,500
Rights agreement amount									$ 673
Common Class A
Business Acquisition [Line Items]
Common stock, shares authorized					600,000,000				600,000,000			600,000,000
Common stock, par value					$ 0.01				$ 0.01			$ 0.01
Pro Frac L L C
Business Acquisition [Line Items]
Percentage of equity interest					50.80%				50.80%
Common Stock | Common Class A
Business Acquisition [Line Items]
Issuance of shares, Shares						600,000
Common Stock | IPO | Common Class A
Business Acquisition [Line Items]
Issuance of shares, Shares								18,200,000
THRC Holdings
Business Acquisition [Line Items]
Issuance of shares, Shares									50,000
Producers Service Holdings LLC
Business Acquisition [Line Items]
Cash consideration			$ 1,400
Purchase consideration			36,500
Equity interest			12,900
Shares issued, price per share											$ 21.4
Working capital adjustments				$ 8,300
Pre-existing investment		$ 13,900
Property, plant and equipment			29,500
Goodwill			$ 7,200
Percentage of outstanding shares of common stock			100%
Performance Proppants LLC
Business Acquisition [Line Items]
Cash consideration	$ 452,100
Purchase consideration	462,500
Equity interest	$ 6,200
Shares issued, price per share	$ 19.67
Settlement of pre-existing receivable	$ 4,200
Revenues					$ 59,300				$ 142,200
Pretax earnings					$ 25,500				60,900
Property, plant and equipment	476,900
Goodwill	$ 69,200
Percentage of outstanding shares of common stock	100%
Performance Proppants LLC | Valuation, Income Approach
Business Acquisition [Line Items]
Property, plant and equipment	$ 248,300
REV Energy Holdings LLC
Business Acquisition [Line Items]
Working capital adjustments									$ 5,300

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Results of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Revenues	$ 574.2	$ 894.6	$ 2,171.6	$ 2,230
Net income (loss)	$ (17.9)	$ 129.1	$ 44.7	$ 139.6

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Allocation of Total Purchase Consideration (Details) - USD ($) $ in Millions	Feb. 24, 2023	Jan. 03, 2023	Sep. 30, 2023	Dec. 31, 2022
Liabilities assumed:
Goodwill			$ 323.2	$ 240.5
Producers
Assets acquired:
Cash and cash equivalents		$ 0.3
Accounts receivable		7.5
Prepaid expenses and other assets		1.1
Inventories		2.8
Property, plant and equipment		29.5
Total assets acquired		41.2
Liabilities assumed:
Accounts payable		10.9
Accrued expenses		0.7
Current portion of long-term debt		0.2
Non-current portion of debt		0.1
Total liabilities assumed		11.9
Goodwill		7.2
Total purchase consideration		$ 36.5
Performance Proppants
Assets acquired:
Cash and cash equivalents	$ 2
Accounts receivable	14.8
Prepaid expenses and other assets	0.6
Inventories	7.5
Property, plant and equipment	476.9
Intangible assets	5.6
Total assets acquired	507.4
Liabilities assumed:
Accounts payable	16.7
Accrued expenses	2.8
Current portion of long-term debt	2.1
Other current liabilities	49.6
Non-current portion of debt	0.6
Other non-current liabilities	42.3
Total liabilities assumed	114.1
Goodwill	69.2
Total purchase consideration	$ 462.5

Acquisitions - Summary of Chang

Acquisitions - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Line Items]
Balances at December 31, 2022	$ 240.5
Measurement period adjustments	(0.2)
Balances at September 30, 2023	323.2
Stimulation Services
Goodwill [Line Items]
Balances at December 31, 2022	153.3
Measurement period adjustments	4.7
Balances at September 30, 2023	165.2
Proppant Production
Goodwill [Line Items]
Balances at December 31, 2022	5.5
Measurement period adjustments	(4.9)
Balances at September 30, 2023	76.3
Other
Goodwill [Line Items]
Balances at December 31, 2022	81.7
Balances at September 30, 2023	81.7
Producers
Goodwill [Line Items]
Acquisition	7.2
Producers | Stimulation Services
Goodwill [Line Items]
Acquisition	7.2
Performance Proppants
Goodwill [Line Items]
Acquisition	75.7
Performance Proppants | Proppant Production
Goodwill [Line Items]
Acquisition	$ 75.7

Inventories - Summary of Invent

Inventories - Summary of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 88.6	$ 78.7
Work in process	18.1	9.7
Finished products and parts	165.2	161.1
Total	$ 271.9	$ 249.5

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Summary of Comprised of Property Plant and Equipment Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	$ 2,858.5	$ 2,113.5
Less: accumulated depreciation, depletion and amortization	(1,013.1)	(717.1)
Property, plant, and equipment, net	1,845.4	1,396.4
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	2,098	1,671.7
Mining Property and Mine Development
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	420.3	172.1
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	109.7	62
Land
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	56.8	44.3
Office Equipment Software and Other
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	11.9	7.3
Construction-in-Progress
Property Plant And Equipment [Line Items]
Property plant and equipment, Gross	$ 161.8	$ 156.1

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Employee compensation and benefits	$ 26.1	$ 41
Sales, use, and property taxes	22.2	20.1
Insurance	8.2	7.4
Interest	21.6	17.5
Income taxes	4.6	0.7
Tax receivable agreement	3.3	3.3
Other	27	25.4
Total accrued expenses	$ 113	$ 115.4

Long-term Debt - Components of

Long-term Debt - Components of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal amount	$ 1,080.9	$ 959.4
Less: unamortized debt discounts, premiums, and issuance costs	(23.8)	(34)
Less: current portion of long-term debt	(122.8)	(127.6)
Total long-term debt	934.3	797.8
Term Loan
Debt Instrument [Line Items]
Total principal amount	808.4	519.2
ABL Credit Facility
Debt Instrument [Line Items]
Total principal amount	135.5	234.3
Monarch Note
Debt Instrument [Line Items]
Total principal amount	65.6	87.5
First Financial Loan
Debt Instrument [Line Items]
Total principal amount	5.3	16.6
Flotek Convertible Notes
Debt Instrument [Line Items]
Total principal amount		12.7
Other
Debt Instrument [Line Items]
Total principal amount	33.9	26.3
REV Note
Debt Instrument [Line Items]
Total principal amount	12.2	39
Equify Notes
Debt Instrument [Line Items]
Total principal amount	$ 20	$ 23.8

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Feb. 28, 2023
Term Loan Facility
Debt Instrument [Line Items]
Repayment of term loan	$ 30.7
Term Loan Facility | Performance Proppants
Debt Instrument [Line Items]
Actual borrowings		$ 320
ABL Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	260.3	400
Principal amount borrowed	135.5
Letters of credit outstanding amount	8.8
Remaining credit facility	116
Monarch Note
Debt Instrument [Line Items]
Debt instruments, principal payments	21.9
First Financial Loan
Debt Instrument [Line Items]
Debt instruments, principal payments	11.3
Flotek Convertible Notes
Debt Instrument [Line Items]
Convertible notes payable		$ 12.7
REV Note
Debt Instrument [Line Items]
Debt instruments, principal payments	21.5
Working capital adjustments	5.3
Equify Note
Debt Instrument [Line Items]
Debt instruments, principal payments	$ 3.8
Minimum | Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, excess cash flow repayment percentage		25%
Maximum | Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, excess cash flow repayment percentage		50%

Preferred Stock - Additional In

Preferred Stock - Additional Information (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) Entity $ / shares shares	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares
Class of Stock [Line Items]
Preferred shares, issued | shares	0		0
Preferred shares, par value	$ 0.01		$ 0.01
Number of entities | Entity	2
Preferred stock aggregate consideration | $
Payments of preferred stock issuance costs | $		$ 27.4
Series A Preferred Stock
Class of Stock [Line Items]
Preferred shares, issued | shares	50,000
Preferred shares, par value	$ 0.01
Preferred stock aggregate consideration | $	$ 50
Net proceeds from issuance of preferred stock | $	48.9
Payments of preferred stock issuance costs | $	$ 1.1
Preferred stock, liquidation preference for each share	$ 1,000
Percentage of paid-in-kind dividends at rate per share equal to annual rate	8%
Preferred stock convertible conversion price	$ 20
Preferred stock, redemption price per share	$ 1.15
Preferred stock, redemption amount | $	$ 57.5
Preferred stock, convertible conversion terms	If the Company elects to convert the Preferred Stock into common shares, it will do so at a conversion rate equal to the greater of:•The Liquidation Preference divided by $10.95, orThe Liquidation Preference divided by the 30-day volume-weighted average price (“VWAP”) of our common stock at the public announcement of the change of control transaction.
Preferred stock, redemption terms	If the Company elects to redeem the Preferred Stock for cash, it will pay out the greater of (1) the Liquidation Preference as of the date of such payment or (2) the amount such holder would receive in the change of control transaction if such share of Preferred Stock had been converted into a number of shares of common stock equal to the greater of: •The Liquidation Preference divided by $20.00 (which is subject to adjustment upon the occurrence of specified events set forth under the terms of the Preferred Stock), and •The Liquidation Preference divided by the 30-day VWAP of our common stock at the change of control date.
Preferred stock, liquidation preference conversion price	$ 10.95
Preferred stock, liquidation preference redemption price	$ 20

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest - Additional Information (Details) - shares			1 Months Ended
	Apr. 11, 2023	Apr. 10, 2023	Apr. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Redeemable Noncontrolling Interest [Line Items]
Stock redeemed during period, shares			104,200,000
Common Class A
Redeemable Noncontrolling Interest [Line Items]
Stock redeemed during period with common stock	3,100,000	101,100,000
Common stock, shares, outstanding			0	159,400,000	53,900,000

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interest - Schedule of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Redeemable Noncontrolling Interest [Line Items]
Beginning balance	$ 1,326.1	$ 200.8	$ (1,112.2)	$ (1,323.4)	$ 242.2	$ 148.1	$ 200.8	$ (1,112.2)	$ 148.1
Class A shares issued in acquisition						72.9
Net income (loss)	(17.9)			139.3		20		37.3	226.7
Stock-based compensation	2.3	2.3	1	1.3	0.8
Stock-based compensation related to deemed contribution	2.1	6.8	3.5	3	11.3
Foreign currency translation adjustments			0.2	0.2		(0.1)		(0.1)	0.1
Adjustment of redeemable noncontrolling interest to redemption amount			(1,268.2)	490.6	159.4
Conversion of Class B common stock to Class A common stock	0.3	74.7
Ending balance	$ 1,304.3	1,326.1	200.8	$ (796.1)	$ (1,323.4)	$ 242.2	1,304.3	1,304.3	$ (796.1)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interest [Line Items]
Beginning balance		1,254.9	2,462.9				1,254.9	$ 2,462.9
Class A shares issued in acquisition			9.5
Net income (loss)		(0.2)	42				(0.2)
Stock-based compensation		0.1	1.9				0.1
Stock-based compensation related to deemed contribution		0.6	6.7				0.6
Foreign currency translation adjustments			0.1
Adjustment of redeemable noncontrolling interest to redemption amount		57.9	(1,268.2)				57.9
Conversion of Class B common stock to Class A common stock		$ (1,313.3)					$ (1,313.3)
Ending balance			$ 1,254.9

Redeemable Noncontrolling Int_5

Redeemable Noncontrolling Interest - Schedule of Redeemable Noncontrolling Interest (Parenthetical) (Details) - $ / shares		3 Months Ended
	Apr. 07, 2023	Mar. 31, 2023	Sep. 30, 2023	Apr. 30, 2023	Dec. 31, 2022
Common Class B
Redeemable Noncontrolling Interest [Line Items]
Common stock, shares, outstanding	104,200,000	104,200,000	0		104,200,000
Common Class A
Redeemable Noncontrolling Interest [Line Items]
Common stock, shares, outstanding			159,400,000	0	53,900,000
VWAP of common stock	$ 12.6	$ 12.04

Variable Interest Entity - Addi

Variable Interest Entity - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets		$ 3,222.1	$ 2,933.6
Liabilities		$ 1,860.3	1,582.9
Pro Frac L L C [Member]
Variable Interest Entity [Line Items]
Percentage of equity interest		50.80%
Flotek Industries, Inc.
Variable Interest Entity [Line Items]
Notes converted into common stock	63.5
Assets		$ 66.1	79.2
Liabilities		$ 52.6	$ 72
Stock issued during period shares stock splits		4.2

Revenue from Contracts with C_2

Revenue from Contracts with Customers - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Performance obligation	$ 478.8	$ 478.8
Performance Proppants
Disaggregation of Revenue [Line Items]
Contract liabilities	67.6	67.6
Additional off-market contract liabilities		85
Amortization to revenue	16.4	41
Future estimated revenue from the amortization of off-market contract liabilities, remainder of fiscal year	16.5	16.5
Future estimated revenue from the amortization of off-market contract liabilities, year one	43.5	43.5
Future estimated revenue from the amortization of off-market contract liabilities, year two	$ 7.6	$ 7.6

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information 1 (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 478.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months
Revenue, Remaining Performance Obligation, Amount	$ 137.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 0.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 80.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 43.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 14.5

Other Operating Expense, Net -

Other Operating Expense, Net - Schedule of Other Operating Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Component of Operating Other Cost and Expense [Abstract]
(Gain) loss on disposal of assets	$ (1.3)	$ 0.6	$ (0.3)	$ 2.6
Litigation expenses and accruals for legal contingencies	10.3		23.5	4
Severance charges	1.1		1.1
Acquisition earnout adjustment			(6.6)
Provision for credit losses, net of recoveries			0.1
Total	$ 10.1	$ 0.6	$ 17.8	$ 6.6

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure Line Items
Effective income tax rate reconciliation, Percent	20.50%	5.20%
Net deferred tax liability	$ 79.4
Percentage to TRA Holders	85%
Tax receivable agreement liabilities, non current	$ 58.9
Tax receivable agreement liabilities, current	3.3
Conversion of Class B Common Stock to Class A Common Stock
Income Tax Disclosure Line Items
Net deferred tax liability	$ 74.4

Earnings per Share - Schedule o

Earnings per Share - Schedule of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net Income (Loss)	$ (24.5)	$ 44	$ (5.4)	$ 50.6
Net (loss) income used for basic earning per Class A common share	$ (33.1)	$ 44	$ (14)	$ 50.6
Denominator:
Weighted average Class A common shares outstanding, basic	159.4	41.2	121.3	40.8
Weighted-average Class A shares used for diluted EPS computation	159.4	41.3	121.3	40.9
Basic (loss) earnings per share - Class A Common Stock	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24
Diluted (loss) earnings per share - Class A Common Stock	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24
Class A Common Stock
Numerator:
Net Income (Loss)	$ (24.5)	$ 44	$ (5.4)	$ 50.6
Adjust Series A preferred stock to its maximum redemption value	(8.6)		(8.6)
Net (loss) income used for basic earning per Class A common share	(33.1)	44	(14)	50.6
Net (loss) income used for diluted earnings per Class A common share	$ (33.1)	$ 44	$ (14)	$ 50.6
Denominator:
Weighted average Class A common shares outstanding, basic	159.4	41.2	121.3	40.8
Dilutive potential of employee restricted stock units		0.1		0.1
Weighted-average Class A shares used for diluted EPS computation	159.4	41.3	121.3	40.9
Basic (loss) earnings per share - Class A Common Stock	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24
Diluted (loss) earnings per share - Class A Common Stock	$ (0.21)	$ 1.07	$ (0.12)	$ 1.24

Earnings per Share - Additional

Earnings per Share - Additional Information (Details) shares in Millions	9 Months Ended
	Sep. 30, 2023 shares
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock equivalents not included in diluted earnings per share	0.2
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock equivalents not included in diluted earnings per share	2.5

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Level 1
Liabilities, Fair Value Disclosure [Abstract]
Liabilities measured at fair value	$ 0.1	$ 1.1
Level 1 | Warrants
Liabilities, Fair Value Disclosure [Abstract]
Liabilities measured at fair value	0.1	1.1
Level 3
Liabilities, Fair Value Disclosure [Abstract]
Liabilities measured at fair value	8.8	7
Level 3 | Investment in BPC
Assets, Fair Value Disclosure [Abstract]
Assets measured at fair value	37.8	53.6
Level 3 | Earnout payment
Liabilities, Fair Value Disclosure [Abstract]
Liabilities measured at fair value	0	6.6
Level 3 | Munger make whole provision
Liabilities, Fair Value Disclosure [Abstract]
Liabilities measured at fair value	$ 8.8	$ 0.4

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Reconciliation of Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning of period	$ 34.1	$ 49.7	$ 46.6
Transfer of Investment in BPC to Level 3 fair value measurement	0	0	0	$ 4.2
Change in fair value of Level 3 fair value measurements	(5.1)	0	(17.6)	8.5
Fair value, end of period	29	49.7	29	49.7
Flotek Industries, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Acquisition	0	0	0	20
Elimination of Flotek convertible notes at acquisition date				(30.2)
Basin Production and Completion LLC
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Acquisition	$ 0	$ 0	$ 0	$ 47.2

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Carrying amount of fixed rate debt	$ 97.2	$ 142.7
Fair value of fixed rate debt	$ 99.5	$ 142.5

Business Segments - Summary of

Business Segments - Summary of Financial Information for Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 574.2	$ 696.7	$ 2,140.9	$ 1,631.5
Adjusted EBITDA	149.3	252.1	578.9	547.8
External Customers
Segment Reporting Information [Line Items]
Revenues	574.2	696.7	2,140.9	1,631.5
Eliminations
Segment Reporting Information [Line Items]
Revenues	(106.1)	(92.2)	(328.9)	(182.2)
Eliminations | Intercompany
Segment Reporting Information [Line Items]
Revenues	(106.1)	(92.2)	(328.9)	(182.2)
Stimulation Services | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	489.5	668.6	1,887.9	1,581.3
Adjusted EBITDA	93.3	249.5	421.9	519.3
Stimulation Services | Reportable Segments | External Customers
Segment Reporting Information [Line Items]
Revenues	485.4	668.3	1,879.8	1,578.9
Stimulation Services | Reportable Segments | Intercompany
Segment Reporting Information [Line Items]
Revenues	4.1	0.3	8.1	2.4
Proppant Production | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	98.4	24.7	290.4	54.6
Adjusted EBITDA	51.6	9.2	150.7	29.6
Proppant Production | Reportable Segments | External Customers
Segment Reporting Information [Line Items]
Revenues	69.5	10.9	200.7	21
Proppant Production | Reportable Segments | Intercompany
Segment Reporting Information [Line Items]
Revenues	28.9	13.8	89.7	33.6
Manufacturing | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	43.8	48.7	142	115.6
Adjusted EBITDA	1.6	4.5	12.7	17.4
Manufacturing | Reportable Segments | External Customers
Segment Reporting Information [Line Items]
Revenues	1.5	2.3	13.2	10.4
Manufacturing | Reportable Segments | Intercompany
Segment Reporting Information [Line Items]
Revenues	42.3	46.4	128.8	105.2
Other | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	48.6	46.9	149.5	62.2
Adjusted EBITDA	2.8	(11.1)	(6.4)	(18.5)
Other | Reportable Segments | External Customers
Segment Reporting Information [Line Items]
Revenues	17.8	15.2	47.2	21.2
Other | Reportable Segments | Intercompany
Segment Reporting Information [Line Items]
Revenues	$ 30.8	$ 31.7	$ 102.3	$ 41

Business Segments - Summary o_2

Business Segments - Summary of Reconciles Total Adjusted EBITDA to Net Income (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 149.3	$ 252.1		$ 578.9	$ 547.8
Interest expense, net	(40.2)	(16.3)		(116.1)	(39)
Depreciation, depletion and amortization	(111.5)	(69.1)		(330.7)	(178.1)
Income tax benefit (expense)	6.7	(7.9)		(9.6)	(12.4)
Gain (loss) on disposal of assets, net	1.3	(0.6)		0.3	(2.6)
(Loss) gain on extinguishment of debt		(0.2)		4.1	(17.3)
Acquisition earn-out adjustment				6.6
Stock compensation expense	(2.3)	(2.7)		(7.6)	(4.2)
Stock-based compensation related to deemed contributions	(2.1)	(10.2)		(19.7)	(49.1)
Provision for credit losses, net of recoveries				(0.1)
Severance charges	(1.1)			(1.1)
Acquisition and integration costs	(2.6)	(5.8)		(20.1)	(22.9)
Litigation expenses and accruals for legal contingencies	(10.3)			(23.5)	(4)
Unrealized (loss) gain on investments, net	(5.1)			(24.1)	8.5
Net (loss) income	(17.9)	139.3	$ 20	37.3	226.7
Stimulation Services | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	93.3	249.5		421.9	519.3
Manufacturing | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	1.6	4.5		12.7	17.4
Proppant Production | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	51.6	9.2		150.7	29.6
Other | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 2.8	$ (11.1)		$ (6.4)	$ (18.5)

Business Segments - Summary o_3

Business Segments - Summary of Segments Assets are Comprised (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 3,222.1	$ 2,933.6
Reportable Segments
Segment Reporting Information [Line Items]
Total assets	4,442.8	3,459.2
Eliminations
Segment Reporting Information [Line Items]
Total assets	(1,220.7)	(525.6)
Stimulation Services | Reportable Segments
Segment Reporting Information [Line Items]
Total assets	2,909.3	2,647.9
Proppant Production | Reportable Segments
Segment Reporting Information [Line Items]
Total assets	1,126.7	477.1
Manufacturing | Reportable Segments
Segment Reporting Information [Line Items]
Total assets	224.3	140.5
Other | Reportable Segments
Segment Reporting Information [Line Items]
Total assets	$ 182.5	$ 193.7

Related Party Transactions - Su

Related Party Transactions - Summary of Revenue from Related Parties (Details) - Related Party - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Revenues	$ 30.6	$ 1.3	$ 35.5	$ 4
Flying A
Related Party Transaction [Line Items]
Revenues	$ 30.6	$ 1.3	34.8	3.2
Carbo
Related Party Transaction [Line Items]
Revenues			$ 0.7	$ 0.8

Related Party Transactions - _2

Related Party Transactions - Summary of Expenditures with Related Parties (Details) - Related Party - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Expenditures with related parties	$ 39.3	$ 44	$ 167.5	$ 129.4
Automatize
Related Party Transaction [Line Items]
Expenditures with related parties	28	22.4	117.8	72.3
FHE
Related Party Transaction [Line Items]
Expenditures with related parties	2	4	3	11.3
Wilks Brothers
Related Party Transaction [Line Items]
Expenditures with related parties	2.1	5.5	14.3	14.3
Related Lessors
Related Party Transaction [Line Items]
Expenditures with related parties	3.3	1.9	10.2	6.5
Wilks Construction
Related Party Transaction [Line Items]
Expenditures with related parties		9.3	6.8	22.7
Wilks Earthworks
Related Party Transaction [Line Items]
Expenditures with related parties	1.7		6.5
Equify Financial
Related Party Transaction [Line Items]
Expenditures with related parties	$ 2.2		6.6	1
3 Twenty-Three
Related Party Transaction [Line Items]
Expenditures with related parties			1.3	0.2
Carbo
Related Party Transaction [Line Items]
Expenditures with related parties		$ 0.9	$ 1	1
Other
Related Party Transaction [Line Items]
Expenditures with related parties				$ 0.1

Related Party Transactions - _3

Related Party Transactions - Summary of Related Party Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Accounts receivable, net	$ 332.3	$ 535.5
Related Party
Related Party Transaction [Line Items]
Accounts receivable, net	6.5	2.1
Flying A | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net	5.6	1.5
Carbo | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net	0.5	0.1
Interstate | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net	$ 0.4	0.3
Other | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net		$ 0.2

Related Party Transactions - _4

Related Party Transactions - Summary of Related Party Accounts Payable (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Accounts payable	$ 341.1	$ 339.4
Related Party
Related Party Transaction [Line Items]
Accounts payable	17.5	24
Automatize | Related Party
Related Party Transaction [Line Items]
Accounts payable	10.9	8.8
Wilks Brothers | Related Party
Related Party Transaction [Line Items]
Accounts payable	4.1	7.1
Wilks Construction | Related Party
Related Party Transaction [Line Items]
Accounts payable		7.9
Wilks Earthworks | Related Party
Related Party Transaction [Line Items]
Accounts payable	0.4
Related Lessors | Related Party
Related Party Transaction [Line Items]
Accounts payable	0.9
Equify | Related Party
Related Party Transaction [Line Items]
Accounts payable	0.7
Carbo | Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 0.5	$ 0.2

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands		6 Months Ended	9 Months Ended
	Jan. 13, 2023	Jun. 30, 2023	Sep. 30, 2023
Related Party Transaction [Line Items]
Rights agreement amount			$ 673
Consulting agreement, description		The consulting agreement has a term of one (1) year and will renew automatically for one (1) additional year unless either party notifies the other in writing at least sixty (60) days prior to the initial one (1) year termination date.
Mr. Coy Randle
Related Party Transaction [Line Items]
Annual fee	$ 200
THRC Holdings
Related Party Transaction [Line Items]
Issuance of shares, Shares			50,000
Proceeds from issuance of Series A preferred stock			$ 50,000
Flying A
Related Party Transaction [Line Items]
Proceeds from sale of equipment			$ 28,900
Purchase consideration		$ 36,300