Smart Sand, Inc. (SND) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 12, 2026

Risk Assessment Details

Potential Dilution: 291.25% of current shares
Recent Dilution: 24.3% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
39M
Potential Supply
110M
Additional shares possible
Splits
None
Past 2 years

Summary

SND currently has 39.2M outstanding shares. with significant dilution risk as 114M authorized shares could dilute existing holders by 291.2%. The company has diluted shareholders by 24.3% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 12, 2026

10-Q filing | 39.2M shares outstanding

39M 110M
Nov 12, 2025

10-Q filing | 43.5M shares outstanding

44M 110M
Aug 12, 2025

10-Q filing | 39.4M shares outstanding

39M 110M
May 13, 2025

10-Q filing | 44.1M shares outstanding

44M 110M
Mar 04, 2025

10-K filing | 39.1M shares outstanding

39M 110M
Nov 12, 2024

10-Q filing | 38.9M shares outstanding

39M 110M
Aug 13, 2024

10-Q filing | 38.7M shares outstanding

39M 110M
May 13, 2024

S-3/A filing: The filing is an S-3/A registration statement for a shelf offering of common stock, allowing the company to sell up to $200,000,000 of securities, and selling stockholders to sell up to 8,158,754 shares of common stock.

39M 110M
May 13, 2024

10-Q filing | 38.6M shares outstanding

39M 110M
Mar 11, 2024

10-K filing | 39.0M shares outstanding

39M 28M
Jan 17, 2024

S-3 filing: The filing is an S-3 shelf registration statement allowing the company to offer securities up to $200,000,000 and selling stockholders to sell up to 8,158,754 shares of common stock.

38M 29M
Nov 07, 2023

10-Q filing | 38.4M shares outstanding

38M 21M
Aug 08, 2023

10-Q filing | 38.0M shares outstanding

38M 21M
May 09, 2023

10-Q filing | 41.3M shares outstanding

41M 18M
Feb 28, 2023

10-K filing | 42.4M shares outstanding

42M 17M
Nov 08, 2022

10-Q filing | 42.5M shares outstanding

43M 17M
Aug 09, 2022

10-Q filing | 42.2M shares outstanding

42M 17M
May 11, 2022

10-Q filing | 42.1M shares outstanding

42M 17M
Mar 08, 2022

10-K filing | 41.8M shares outstanding

42M 17M
Nov 09, 2021

10-Q filing | 41.9M shares outstanding

42M 17M
Aug 04, 2021

10-Q filing | 41.7M shares outstanding

42M 18M
May 04, 2021

10-Q filing | 41.6M shares outstanding

42M 18M
Mar 03, 2021

10-K filing | 40.3M shares outstanding

40M 19M
Jan 06, 2021

S-3 filing: The filing is an S-3 shelf registration statement allowing the company to sell securities up to a total dollar amount of $200,000,000 and the selling stockholders may sell up to 19,294,945 shares of common stock.

40M 19M
Nov 09, 2020

10-Q filing | 40.0M shares outstanding

40M 0
Sep 18, 2020

8-K filing: Smart Sand, Inc. issued 1,503,759 shares of its common stock to Eagle Materials Inc. as part of the acquisition of Eagle Oil and Gas Proppants Holdings LLC for $2.0 million. ($2.0M proceeds)

40M 0
Aug 05, 2020

10-Q filing | 39.6M shares outstanding

40M 0
May 06, 2020

10-Q filing | 40.1M shares outstanding

40M 0
Feb 26, 2020

10-K filing | 40.1M shares outstanding

40M 0
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