ProFrac Holding Corp. (NASDAQ: ACDC) has released its financial results for the second quarter of 2025. The company reported total revenue of $502 million, a decrease from the $600 million reported in the first quarter of 2025. The net loss for the second quarter was $104 million, a significant increase compared to the $15 million net loss in the first quarter of 2025. Adjusted EBITDA was $79 million, representing 16% of revenue, compared to $130 million or 22% of revenue in the first quarter of 2025. The Manufacturing segment generated revenues of $56 million in the second quarter, resulting in $7 million of Adjusted EBITDA and a margin of 13%. This is compared with $66 million in revenues and $4 million of Adjusted EBITDA, with a margin of 6%, in the first quarter. The Proppant Production segment saw revenues of $78 million, with $15 million of Adjusted EBITDA and a margin of 19%, compared to $67 million in revenues, $18 million of Adjusted EBITDA, and a margin of 27% in the previous quarter. ProFrac's Other Business Activities reported revenues of $65 million, with $8 million of Adjusted EBITDA and a margin of 12%, slightly up from the $62 million in revenues in the first quarter, which had a 13% margin. The company also reported net cash provided by operating activities of $100 million, a rise from $39 million in the first quarter. Capital expenditures totaled $47 million, down from $53 million in the prior quarter, and free cash flow was $54 million, a turnaround from a negative $14 million in the first quarter. ProFrac continues to focus on capital allocation and has made progress in reducing its capital expenditure needs.