Core Laboratories Inc. /DE/

Listed Company

CLBCIK 0001958086NYSELarge AcceleratedOil & Gas Field Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$526.52M

Net Income

$29.67M

Total Assets

$584.01M

Equity

$265.99M

Shares Out

46.05M

Op. Cash Flow

$37.03M

Business

Core Laboratories Inc. provides proprietary and patented reservoir description and production enhancement services and products to the oil and gas industry. It offers laboratory and field analytical services for reservoir rocks and fluids, manufactured reservoir-condition laboratory equipment, diagnostic services, perforating systems, and data management and digital analytics platforms. The company operates through two complementary segments: Reservoir Description (rock and fluid characterization, PVT and digital databases) and Production Enhancement (perforating products, diagnostics, stimulation support and ROC Lab testing). Core Lab serves clients worldwide via a global network of offices, direct sales, distributors and technical channels.

Summary from filing dated 2025-02-13

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
Revenue	527	524	510	490	470
General and administrative expense, exclusive of depreciation expense shown below	45	40	40	38	44
Depreciation	14	14	15	16	18
Amortization	359,000	504,000	490,000	685,000	762,000
Other (income) expense, net	−8	−10	−850,000	−722,000	−6
OPERATING INCOME	56	59	55	42	45
Interest expense	11	12	13	12	9
Income before income taxes	46	46	41	30	36
Income tax expense	16	14	4	10	16
Net income	30	32	37	20	20
Net income attributable to non-controlling interest	722,000	753,000	350,000	205,000	492,000
Net income attributable to Core Laboratories Inc.	30	31	37	19	20
Basic earnings per share	0.65	0.69	0.79	0.42	0.44
Basic earnings per share attributable to Core Laboratories Inc.	0.64	0.67	0.79	0.42	0.43
Diluted earnings per share	0.65	0.67	0.78	0.42	0.43
Diluted earnings per share attributable to Core Laboratories Inc.	0.63	0.66	0.77	0.42	0.42
Basic	46	47	47	46	46
Diluted	47	48	48	47	47

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	23	19	15	15	—
Accounts receivable, net of allowance for credit losses of $6,317 and $3,192 at 2025 and 2024, respectively	114	112	109	107	—
Inventories	54	59	72	60	—
Prepaid expenses	10	10	8	16	—
Income taxes receivable	7	10	14	8	—
Other current assets	7	11	5	5	—
TOTAL CURRENT ASSETS	215	221	223	212	—
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $320,707 and $314,317 at 2025 and 2024, respectively	99	97	100	105	111
RIGHT OF USE ASSETS	54	56	54	52	—
INTANGIBLES, net of accumulated amortization and impairment of $19,531 and $19,326 at 2025 and 2024, respectively	7	6	7	7	—
GOODWILL	106	99	99	99	—
DEFERRED TAX ASSETS, net	67	70	69	69	—
OTHER ASSETS	35	35	34	34	—
TOTAL ASSETS	584	585	586	578	581
Accounts payable	37	35	34	46	—
Accrued payroll and related costs	27	23	19	23	—
Taxes other than payroll and income	4	7	6	5	—
Unearned revenues	6	9	5	6	—
Operating lease liabilities	11	11	10	12	—
Income taxes payable	4	10	7	3	—
Other current liabilities	17	8	8	8	—
TOTAL CURRENT LIABILITIES	106	102	88	103	—
LONG-TERM DEBT, net	110	126	163	172	—
LONG-TERM OPERATING LEASE LIABILITIES	42	43	42	38	—
DEFERRED COMPENSATION	29	31	31	32	—
DEFERRED TAX LIABILITIES, net	8	9	13	23	—
OTHER LONG-TERM LIABILITIES	16	21	20	21	—
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Preference stock, 6,000,000 shares authorized, $0.01 par value; none issued or outstanding	0	0	0	0	—
Common stock, 200,000,000 shares authorized, $0.01 par value, 46,966,868 issued and 46,095,379 outstanding at 2025; 46,966,868 issued and 46,826,820 outstanding at 2024	470,000	470,000	469,000	1	—
Additional paid-in capital	110	110	110	102	—
Retained earnings	173	145	121	86	—
Accumulated other comprehensive income (loss)	−6	−6	−5	−4	—
Treasury stock (at cost), 871,489 and 140,048 at 2025 and 2024, respectively	−12	−3	−1	−1	—
Total Core Laboratories Inc. shareholders' equity	266	247	225	184	—
Non-controlling interest	6	6	5	5	—
TOTAL EQUITY	272	252	224	184	161
TOTAL LIABILITIES AND EQUITY	584	585	586	578	—

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
Stock-based compensation	7	4	14	8	19
Depreciation and amortization	15	15	16	17	19
Assets write-down	34,000	1	1	0	—
Inventory write-off and obsolescence	2	3	2	−142,000	—
Net provision for credit losses	3	1	179,000	−6,000	−256,000
Changes in value of life insurance policies	−2	−3	−5	5	−3
Deferred income taxes	1	674,000	−11	433,000	6
Insurance recovery on property, plant and equipment	−7	−4	0	—	—
Realization of pension obligation	337,000	−33,000	−892,000	451,000	−234,000
Other non-cash items	682,000	−1	406,000	−405,000	−3
Accounts receivable	−5	−4	−3	−10	−14
Inventories	3	9	−13	−15	−5
Prepaid expenses and other current assets	−1	−6	2	−76,000	2
Other assets	28,000	−289,000	2	−1	−523,000
Accounts payable	477,000	519,000	−13	15	7
Accrued expenses	−3	3	−375,000	−1	−9
Unearned revenues	−4	5	−1	−2	2
Other liabilities	−5	460,000	−2	−11	−4
Net cash provided by operating activities	37	56	25	25	37
Capital expenditures - operations	−11	−12	−11	−10	−14
Capital expenditures - rebuilding of Aberdeen facility	−3	−1	0	—	—
Proceeds from insurance recovery - Aberdeen facility	10	2	0	583,000	726,000
Proceeds from sale of assets	3	2	485,000	2	678,000
Patents and other intangibles	−150,000	20,000	67,000	−29,000	−318,000
Acquisitions, net of cash acquired	−1	0	0	—	—
Net proceeds on life insurance policies	778,000	3	3	4	1
Net cash used in investing activities	−2	−6	−7	−4	−10
Repayment of long-term debt	−63	−82	−211	−131	−226
Proceeds from long-term debt	48	44	202	116	155
Debt issuance costs	−2	−19,000	−1	−2	0
Equity related transaction costs	0	−756,000	−4	−411,000	−861,000
Dividends paid	−2	−2	−2	−2	−2
Repurchase of common stock	−12	−5	−2	−4	−8
Other financing activities	−254,000	0	−54,000	−2,000	−508,000
Net cash used in financing activities	−31	−46	−18	−23	−22
NET CHANGE IN CASH AND CASH EQUIVALENTS	4	4	−308,000	−2	4
Cash payments for interest	8	11	11	9	10
Cash payments for income taxes	19	18	15	14	9
Restricted shares withheld from employees for settlement of tax liabilities	3	0	0	—	—
Business acquisition contingent cash consideration	4	0	0	—	—
Capital expenditures incurred but not paid for as of the end of the year	1	2	963,000	1	1
Equity related transaction costs incurred but not paid for as of the end of the year	0	0	756,000	0	0

Filings

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