How did ProFrac Holding's revenue and expenses trend in Q4 2024 compared to previous quarters?

**ProFrac Holding's revenue and expenses in Q4 2024 showed a seasonal decline compared to the previous quarter.**

1. **Revenue Trend**: The company's total revenue for Q4 2024 was $455 million. This was a decrease from the revenue of $581.5 million in Q3 2024. The fall in revenue was also reflected in the full year figures, with the company reporting $2.19 billion for the full year 2024, compared to $2.63 billion in 2023.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|ACDC|ACDC.O|ProFrac Holding|2024 Q2|-18.30231246474901|5.794E8|185|
|ACDC|ACDC.O|ProFrac Holding|2024 Q3|0.19157088122605362|5.753E8|185|
|ACDC|ACDC.O|ProFrac Holding|2024 Q4|-7.0333265180944595|4.547E8|185|
|ACDC|ACDC.O|ProFrac Holding|2025 Q1|3.233018056749785|6.003E8|185|

2. **Expense Trend**: There were no reported expenses data for Q4 2024. However, the company's net loss for the quarter was $102 million, which was an increase from the net loss of $44 million in the previous quarter. This suggests that while revenue decreased, expenses, or at least certain expenses, increased, contributing to the higher net loss.
3. **Comparing Full Year Figures**: When comparing the full year 2024 with the previous year, the company's adjusted EBITDA was $501 million, down from $688 million in 2023, which was approximately 23% of revenue in 2024 compared to 26% in 2023. This indicates a decrease in profitability as measured by EBITDA.
4. **Cash Flow**: The company's net cash provided by operating activities was $77 million in Q4 2024, which was a decrease from $98 million in the previous quarter. This could be a result of the lower revenue and higher expenses.
5. **Market Conditions**: The decrease in revenue was attributed to seasonal budget exhaustion, adverse weather, and pricing pressure. The company also mentioned that hydraulic fracturing efficiency had surpassed its 2024 peak, which might suggest that the efficiency issue was temporary and could potentially lead to a recovery in revenue in subsequent quarters.

In conclusion, ProFrac Holding experienced a decline in revenue and an increase in net loss in Q4 2024 compared to the previous quarter, primarily due to seasonal factors and market pressures. The absence of expense data for Q4 2024 prevents a comprehensive analysis of the company's financial performance in that quarter, but the trend of decreasing revenue and increasing net loss is evident.