PF Holdings

What PF Holdings does

PF Holdings, operating as ProFrac Holding Corp. (NASDAQ: ACDC), is a technology-focused, vertically integrated energy services holding company providing hydraulic fracturing, proppant production, related completion services, and complementary products to upstream oil and natural gas exploration and production (E&P) companies in North America. The company was established in 2021 as a holding company structure over its operating subsidiaries, is headquartered in Willow Park, Texas, and trades on the NASDAQ Global Select Market. It operates through four reportable segments — Stimulation Services ($1.68B FY2025 revenue), Proppant Production ($336M), Manufacturing ($212M), and Flotek Industries ($244M, acquired April 2025) — and went public via IPO in May 2022. The Wilks Parties (Dan Wilks and Farris Wilks) retain majority voting control through Class B common stock, and the company has executed an aggressive acquisition cadence (FTS International, Alpine Silica, Monahans, Performance Proppants, Haynesville Proppant, Advanced Stimulation Technologies, and Flotek) to build a vertically integrated supply chain. Headcount is in the 1,001–5,000 range.

The company's core technology proposition is closed-loop fracturing, deployed in partnership with Seismos, Inc. beginning February 2026. The system combines Seismos' SAFA™ in-well subsurface measurement with ProFrac's ProPilot® surface automation to deliver real-time, intra-stage treatment adjustments. Disclosed field results include 7% mid-stage and 7.5% end-of-stage perforation efficiency improvements versus non-intervened stages, 183 stages completed on a 4-well Eagle Ford / Austin Chalk pad between February 13 and March 4, 2026, and average detection-to-actuation response times under 5 minutes. The Machina™ well optimization suite extends this capability toward recovery from under-performing perforations. The technology stack represents the company's primary stated differentiator versus conventional completion workflows.

ProFrac monetizes primarily through direct, project-based service contracts with major North American E&P operators on a sales-led, enterprise motion. The model is capital-intensive: approximately $1.05B of total principal debt was outstanding at year-end 2025, FY2025 capex was $170M, and non-stimulation segments are heavily intercompany (74–82% of Q4 2025 revenue in Proppant, Manufacturing, and Flotek), reflecting the vertical supply chain. FY2025 revenue of $1.94B declined ~11% from $2.19B in 2024, Adjusted EBITDA compressed from $501M (23% margin) to $310M (16% margin), and the company reported a $356M net loss. Management has launched a business optimization plan targeting $100M in annualized savings by mid-2026. Liquidity stood at approximately $152M (cash plus ABL availability), and 2026 capex is guided to $155–185M.

Name

PF Holdings

Legal name

ProFrac Holding Corp.

Website

https://ir.pfholdingscorp.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

ProFrac Holding Corp. (NASDAQ: ACDC) is a vertically integrated, technology-focused energy services holding company providing hydraulic fracturing, proppant production, manufacturing, and chemistry solutions to upstream oil and gas E&P operators in North America.

Ownership category

akta.pro rank

Product category

Oil and Gas Services (Hydraulic Fracturing)

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Crude Petroleum Extraction (21112)

SIC

Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

C&I PPAs & Virtual PPAs (VPPA) Origination & Management (EUAGACAF)

akta.pro secondary industries

PPA Origination, Advisory & Contract Management (Negotiation, Credit, Settlements) (EUAGADAL), Multi-Site SMB Retail Supply & Portfolio Management (EUAGABAL)

Keywords

• Hydraulic fracturing services
• Proppant production
• Well completion services
• Upstream oil and gas services
• Energy services manufacturing

Headquarters

HQ city

Willow City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Stimulation Services: Hydraulic fracturing services provided to upstream oil and natural gas companies. Full year 2025 revenue of $1.68 billion, with Q4 2025 revenue of $384 million.
2. Proppant Production: Sand and proppant supply for hydraulic fracturing operations. Full year 2025 revenue of $336 million, with Q4 2025 revenue of $115 million. Approximately 78% of Q4 2025 revenue was intercompany.
3. Manufacturing: Manufacturing of complementary products and equipment for energy services. Full year 2025 revenue of $212 million, with Q4 2025 revenue of $43 million. Approximately 81.9% of Q4 2025 revenue was intercompany.
4. Flotek Industries: Chemistry, equipment, and data solutions for energy companies. Full year 2025 revenue of $244 million, with Q4 2025 revenue of $70 million. Approximately 74.3% of Q4 2025 revenue was intercompany.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PF Holdings (ProFrac Holding Corp.) is a vertically integrated energy services holding company that provides hydraulic fracturing services, frac sand and proppant production, manufacturing of completion-related equipment, and chemistry/data solutions (via Flotek Industries) to upstream oil and natural gas exploration and production companies across North America. Its portfolio of companies delivers project design, sand and chemical supply, logistics coordination, data reporting, automation technology, and emissions reduction services under a single integrated offering.

Product overview

PF Holdings (ProFrac Holding Corp.) is a technology-focused, vertically integrated energy services holding company operating through four business segments: Stimulation Services, Proppant Production, Manufacturing, and Flotek Industries. The company provides hydraulic fracturing, proppant production, related completion services and complementary products to upstream oil and natural gas companies in North America. Key technology offerings include ProPilot® surface automation system and Machina™ well optimization suite, which together with the Seismos partnership enable closed-loop fracturing technology for real-time intra-stage optimization.

Differentiator

Problem solved

Functional benefit

Brands

• ProPilot: Surface automation system used for automated treatment adjustments in hydraulic fracturing operations
• Machina
• SAFA

Products and services

• Stimulation Services Hydraulic fracturing services provided to upstream oil and natural gas companies engaged in exploration and production of North American unconventional oil and natural gas resources.
• Proppant Production Sand and proppant production operations (including sand mines and processing facilities) supporting hydraulic fracturing activities across North American basins.
• Manufacturing Manufacturing of frac equipment, pumps, flow equipment, and other completion-related products for the energy services industry.
• Flotek Industries Chemistry products and services for the energy industry, providing specialized chemical solutions for well stimulation and production.
• ProPilot® Surface Automation System Surface automation system that executes coordinated adjustments during active fracturing stages, enabling real-time intra-stage optimization and automated treatment adjustments.
• Machina™ Well Optimization Suite Well optimization suite designed to help operators access unrecovered productive potential and maximize the productive potential of every fracturing stage.
• Closed-Loop Fracturing Technology Integrated fracturing technology combining Seismos in-well subsurface measurements (SAFA™) with ProPilot® surface automation for real-time intra-stage optimization. Uses Uniformity Index (UI) as primary control metric to detect deviations and execute corrective action within the same stage.

Quantifiable outcome

• Up to 20% productivity improvement from improved cluster-level fluid distribution achievable through closed-loop fracturing optimization
• +4 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

One partnership is on record.

• Seismos, Inc.coreTechnology or Integration · 12 March 2026Strategic partnership for closed-loop fracturing technology deployment. The collaboration enables real-time, intra-stage optimization using direct in-well subsurface measurements and immediate surface actuation. Seismos provides proprietary measurement system (SAFA™) and completion logic, while ProFrac provides surface automation (ProPilot®) for coordinated adjustments. Successfully completed 183 stages on a 4-well pad in Eagle Ford & Austin Chalk basins from February 13 to March 4, 2026.

Scale indicators10 records

Recent moves2 records

Expansion highlights5 records

Emerging players

• Core Laboratories: Core Laboratories (CLB) provides reservoir description and production enhancement services to E&P operators, with adjacent rather than direct overlap to ProFrac's services. Comparable as an energy services peer exposed to unconventional completion optimization.
• Flotek Industries (pre-acquisition peer context): Flotek Industries, now a wholly-owned ProFrac subsidiary, was previously a standalone specialty chemistry and data analytics peer for energy operators. It remains a relevant comparable for the chemistry-plus-data overlay now embedded in ProFrac's portfolio.

Broad incumbents

• Halliburton Company: Halliburton (HAL) is a broad incumbent in oilfield services with a major North American hydraulic fracturing franchise alongside drilling, completion, and production services. It competes directly with ProFrac in pressure pumping while offering significantly more diversified geographic and service-line exposure.
• Schlumberger Limited (SLB): SLB is the largest global oilfield services company with overlapping exposure to hydraulic fracturing, stimulation chemistry, and digital oilfield solutions. While much broader than ProFrac, it competes for the same large E&P customers and increasingly emphasizes digital completions technology.
• Baker Hughes Company: Baker Hughes (BKR) operates a broad oilfield services and industrial energy technology portfolio including pressure pumping, chemistry, and well construction. Comparable to ProFrac in completions-related offerings but with substantially greater scale and diversification.

Direct peers

• ProPetro Holding Corp. ProPetro (PUMP) is a direct peer providing hydraulic fracturing and other completion services to North American E&P companies. Closely comparable in scale, business model, and customer base, with similar exposure to unconventional basin activity.
• Liberty Energy: Liberty Energy (LBRT) is a direct peer in North American hydraulic fracturing services with comparable fleet size, proppant exposure, and a focus on technology-enabled completions. Both companies target the same upstream E&P customer base with similar pressure pumping offerings.
• Select Water Solutions: Select Water Solutions (WTTR) provides water handling and proppant logistics services to North American fracturing operators, directly serving the same customer base as ProFrac and competing in the supply chain portion of the wellsite value chain.
• Solaris Oilfield Infrastructure: Solaris (SOI) provides mobile frac sand silos and other wellsite logistics infrastructure to hydraulic fracturing operators, overlapping with ProFrac's proppant supply and logistics capabilities within the same North American completion ecosystem.
• U.S. Silica Holdings: U.S. Silica (SLCA) is a major frac sand producer supplying proppant to hydraulic fracturing operators, directly comparable to ProFrac's Proppant Production segment. Both sell into the same North American completion supply chain.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PF Holdings