Select Water Solutions Inc-A 2025年季度报告

Form10-Q ☑QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THESECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch31,2025 For the transition period from _______________ to ________________Commission File Number001-38066 SELECT WATER SOLUTIONS,INC. (Exact name of registrant as specified in its charter)Delaware81-4561945 76240(Zip Code) (940)668-1818 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: NameofeachexchangeonwhichregisteredNew York Stock Exchange WTTR Class A common stock, par value$0.01 per share Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that theregistrant was required to file such reports) and (2)has been subject to such filing requirements for the past90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for suchshorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “largeaccelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” inRule12b-2 of the Exchange Act. Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection7(a)(2)(B)of the Securities Act.☐ Indicate by check mark whether the registrant is a shell company.Yes☐No☑ As of May 5, 2025, the registrant had103,994,137shares of ClassA common stock and16,221,101sharesof ClassB common stock outstanding. SELECT WATER SOLUTIONS,INC. TABLE OF CONTENTS Item1.Financial Statements (Unaudited)6Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations 38Item3.Quantitative and Qualitative Disclosures about Market Risk52Item4.Controls and Procedures53PARTII—OTHER INFORMATIONItem1.Legal Proceedings53Item1A.Risk Factors54Item2.Unregistered Sales of Equity Securities and Use of Proceeds56Item3.Defaults Upon Senior Securities56Item4.Mine Safety Disclosures56Item5.Other Information56Item6.Exhibits57 CAUTIONARY NOTEREGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form10-Q (the “Quarterly Report”) includes “forward-lookingstatements” within the meaning of Section27A of the Securities Act of 1933, as amended (the“Securities Act”), and Section21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). All statements, other than statements of historical fact, included in this QuarterlyReport regarding our strategy, future operations, financial position, estimated revenues and losses,projected costs, prospects, plans and objectives of management are forward-looking statements.When used in this Quarterly Report, the words “could,” “believe,” “anticipate,” “intend,” “estimate,”“expect,” “project,” “preliminary,” “forecast,” and similar expressions or variations are intended toidentify forward-looking statements, although not all forward-looking statements contain suchidentifying words. These forward-looking statements are based on our current expectations andassumptions about future events and are based on currently available information as to the outcomeand timing of future events. When considering forward-looking statements, you should keep in mindthe risk factors and other cautionary statements described under the heading “Risk Factors” includedin our most recent Annual Report on Form 10-K, in this Quarterly Report and those set forth fromtime to time in our other filings with the Securities and Exchange Commission (the “SEC”). Theseforward-looking statements are based on management’s current belief, based on currently availableinformation, as to the outcome and timing of future events. Important factors that could cause actual results to differ materially from those in theforward-looking statements include, but are not limited to, those summarized below: ●global economic distress, including that resulting from the sustained Russia-Ukrainewar and related economic sanctions, instability and continued hostilities in the MiddleEast, including increased tensions with Iran, economic uncertainty as a result ofchanging trade policies, inflation and high interest rates, each of which may decreasedemand for oil and natural gas or contribute to volatility in the prices for oil and naturalgas, which may decrease demand for our services; ●actions taken