Nine Energy Service, Inc.

Listed Company

NINECIK 0001532286NYSENon-AcceleratedSmaller ReportingOil & Gas Field Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$561.91M

Net Income

$-51.32M

Total Assets

—

Equity

—

Shares Out

13.95M

Op. Cash Flow

$-7.31M

Business

Nine Energy Service, Inc. is a leading completion services provider that partners with exploration and production customers to design and deploy downhole solutions for unconventional oil and gas resource development. It offers cementing services, proprietary completion tools (including composite, hybrid, and dissolvable frac plugs), plug-and-perf wireline operations, and coiled tubing interventions, supported by lab slurry design and specialized equipment. Key operating segments include Cementing Services, Completion Tools, Wireline Services, and Coiled Tubing Services. The company serves major onshore U.S. basins, the Western Canada Sedimentary Basin, and sells completion tools internationally through in‑basin facilities and a field sales organization.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	562	554	610	593	349
General and administrative expenses	60	51	60	52	45
Depreciation	23	26	29	27	29
Amortization of intangibles	11	11	12	14	16
Loss on revaluation of contingent liability	217,000	104,000	437,000	454,000	460,000
Loss (gain) on sale of property and equipment	−2	256,000	292,000	367,000	660,000
Income from operations	2	9	18	44	−50
Interest expense	55	51	51	—	—
Interest income	−683,000	−849,000	−1	−305,000	−26,000
Other income	−684,000	−648,000	−648,000	−709,000	−298,000
Loss before income taxes	−51	−41	−32	15	−65
Provision (benefit) for income taxes	−171,000	198,000	585,000	546,000	−25,000
Net loss	−51	−41	−32	14	−65
Basic (in dollars per share)	−1.25	−1.11	−0.97	0.47	−2.13
Diluted (in dollars per share)	−1.25	−1.11	−0.97	0.45	−2.13
Basic (in shares)	41	37	33	31	30
Diluted (in shares)	41	37	33	32	30
Foreign currency translation adjustments, net of $0 tax in each period	219,000	−547,000	−31,000	−293,000	−34,000
Total other comprehensive income (loss), net of tax	219,000	−547,000	−31,000	−293,000	−34,000
Total comprehensive loss	−51	−42	−32	14	−65

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	28	31	17	22
Restricted cash	1	0	—	—	—
Accounts receivable, net	76	81	88	105	64
Income taxes receivable	0	284,000	490,000	741,000	1
Inventories, net	57	51	54	62	42
Prepaid expenses	14	10	9	—	—
Other current assets	3	380,000	499,000	—	—
Total current assets	169	170	184	197	139
Property and equipment, net	64	71	82	90	87
Operating lease right of use assets, net	34	37	42	36	35
Finance lease right of use assets, net	16,000	29,000	51,000	547,000	1
Intangible assets, net	68	79	90	102	116
Other long-term assets	4	3	3	2	2
Total assets	339	360	402	427	382
Accounts payable	44	36	33	42	29
Accrued expenses	28	31	36	28	19
Income taxes payable	356,000	0	—	—	—
Current portion of long-term debt	6	4	3	2	2
Current portion of operating lease obligations	13	11	10	8	6
Current portion of finance lease obligations	6,000	21,000	31,000	178,000	1
Total current liabilities	91	82	83	81	56
Long-term debt	342	317	321	338	332
Long-term operating lease obligations	21	27	33	29	30
Other long-term liabilities	87,000	621,000	2	2	2
Total liabilities	454	426	438	450	421
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 and 42,348,643 shares issued and outstanding at December 31, 2025 and 2024 respectively)	433,000	423,000	353,000	332,000	328,000
Additional paid-in capital	808	806	795	775	773
Accumulated other comprehensive loss	−5	−5	−5	−5	−5
Accumulated deficit	−919	−867	−826	−794	−808
Total stockholders equity (deficit)	−115	−66	−36	−24	−39
Total liabilities and stockholders equity (deficit)	339	360	402	427	382

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−51	−41	−32	14	−65
Depreciation	23	26	29	27	29
Amortization of operating leases	15	13	13	9	8
Amortization of deferred financing costs and non-cash interest	14	8	—	—	—
Provision for doubtful accounts	0	500,000	300,000	−200,000	−200,000
Provision for inventory obsolescence	2	2	2	3	5
Stock-based compensation expense	2	3	2	2	5
Accounts receivable, net	5	7	16	−41	−23
Inventories, net	−7	2	5	−23	−9
Prepaid expenses and other current assets	−5	−995,000	1	−818,000	3
Accounts payable and accrued expenses	3	−2	1	19	12
Income taxes receivable/payable	636,000	212,000	252,000	655,000	0
Operating lease obligations	−15	−13	−12	−9	—
Other assets and liabilities	−3	−1	−245,000	66,000	−10
Net cash used in operating activities	−7	13	46	17	−40
Proceeds from sales of property and equipment	189,000	585,000	606,000	3	3
Proceeds from property and equipment casualty losses	2	0	840,000	175,000	0
Purchases of property and equipment	−16	−15	−25	−29	−15
Net cash used in investing activities	−14	−14	−23	−25	−12
Proceeds from issuance of common stock under ATM program	0	8	0	—	—
Cost of debt issuance	−5	0	−6	0	—
Proceeds from revolving credit facilities	66	3	40	24	15
Payments on revolving credit facilities	−51	−13	−15	−7	0
Proceeds from short-term debt	10	6	5	4	2
Payments of short-term debt	−7	−5	−4	−3	−545,000
Principle payments on finance leases	−33,000	−49,000	−217,000	−1	−1
Payments of contingent liability	−223,000	−604,000	−387,000	−195,000	−154,000
Net cash provided by (used in) financing activities	13	−2	−9	5	5
Impact of foreign currency exchange on cash	0	−294,000	—	—	—
Net decrease in cash, cash equivalents, and restricted cash	−8	−3	13	−4	−47
Cash paid for interest	43	44	31	30	30
Cash paid (refunded) for income taxes	−849,000	525,000	563,000	−116,000	24,000
Capital expenditures in accounts payable and accrued expenses	3	889,000	1	3	63,000

Filings

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