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Cactus Exhibit 99.1 Cactus Announces First Quarter 2021 Results HOUSTON - May 5 , 2021 - Cactus , Inc. ( NYSE : WHD ) ( “ Cactus ” or the “ Company ” ) today announced financial and operating results for the first quarter of 2021 . First Quarter Highlights . Revenue of $ 84.4 million ; • • Income from operations of $ 11.6 million ; Net income of $ 15.1 million ( ¹ ) and diluted earnings per Class A share of $ 0.19 ( ¹ ) ; • • Net income , as adjusted ( 2 ) of $ 8.6 million and diluted earnings per share , as adjusted ( 2 ) of $ 0.11 ; Adjusted EBITDA ( ³ ) and related margin ( 4 ) of $ 22.8 million and 27.0 % , respectively ; • Cash flow from operations of $ 15.7 million ; • . Cash balance of $ 292.0 million and no bank debt outstanding as of March 31 , 2021 ; and The Board of Directors ( “ the Board " ) declared a quarterly cash dividend of $ 0.09 per share . Financial Summary Revenues Income from operations Operating income margin Net income ( 1 ) Net income , as adjusted ( 2 ) Adjusted EBITDA ( 3 ) Adjusted EBITDA margin ( 4 ) March 31 , 2021 Three Months Ended December 31 , 2020 March 31 , 2020 ( in thousands ) $ 84,417 $ 68,090 $ $ 11,635 $ 8,423 $ 154,139 40,185 13.8 % 12.4 % 26.1 % $ 15,136 $ 6,136 $ 33,098 $ 8,612 $ 6,287 $ 30,785 $ 22,831 $ 19,844 $ 54,145 27.0 % 29.1 % 35.1 % ( 1 ) Net income during the first quarter of 2021 is inclusive of a $ 5.1 million income tax benefit associated with a partial release of our valuation allowance and $ 0.4 million in non - routine fees and expenses recorded in connection with the offering of Class A common stock in March 2021 by certain selling stockholders . Net income during the first quarter of 2020 is inclusive of $ 1.0 million in non - routine charges related to severance incurred in connection with workforce reduction initiatives undertaken during the period . ( 2 ) Net income , as adjusted and diluted earnings per share , as adjusted are non - GAAP financial measures . These figures assume Cactus , Inc. held all units in Cactus Wellhead , LLC ( " Cactus LLC " ) , its operating subsidiary , at the beginning of the period . Additional information regarding net income , as adjusted and diluted earnings per share , as adjusted and the reconciliation of GAAP to non - GAAP financial measures are in the Supplemental Information tables . ( 3 ) Adjusted EBITDA is a non - GAAP financial measure . See definition of Adjusted EBITDA and the reconciliation of GAAP to non - GAAP financial measures in the Supplemental Information tables . ( 4 ) The percentage of Adjusted EBITDA to Revenues . 1