Financial Performance and Strategic Outlook
Clean Balance Sheet & Low Capital Intensity
Balance Sheet & Capital Summary
■■ Year-end 2021 cash balance of approximately
$302 million
■Full year 2022 net capital expenditure guidance
of $20 million to $30 million
■Modest maintenance capex requirements
2022 capex driven by:
■Roofline expansion at Bossier City
manufacturing facility
■R&D facility buildout
Electrification and additions to rental
asset fleet as activity is expected to grow
■ General maintenance
Adjusted EBITDA (1) - Net Capital Expenditures (2) ($ in
millions)
$14.8
$81.4
$173.1
$144.4
$108.7
$102.9
2016
2017
2018
2019
2020
2021
Net Capital Expenditures (2) ($ in millions)
$30.7
$17.4
$68.2
$55.9
$18.1
$11.6
2016
2017
2018
2019
2020
2021
Strong balance sheet with track record of cash flow generation
Source: Company filings.
1)
2)
EBITDA and Adjusted EBITDA are non-GAAP financial measures. Cactus defines Adjusted EBITDA as EBITDA excluding (gain) loss on debt extinguishment, stock-based compensation, non-cash adjustments for the revaluation of the liability related to the tax receivable
agreement, and equity offering expenses. The Appendix at the back of this presentation contains a reconciliation of EBITDA and Adjusted EBITDA to net income, the most comparable financial measure calculated in accordance with GAAP.
Net Capital Expenditures equals net cash flows from investing activities.
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