Flowco Holdings Inc.

Listed Company

FLOCCIK 0002035149NYSEEmerging GrowthOil & Gas Field Machinery & EquipmentFY ends Dec 31

Period

FY 2025

Revenue

$759.72M

Net Income

$41.40M

Total Assets

$1.65B

Equity

$228.63M

Shares Out

—

Op. Cash Flow

$294.37M

Business

Flowco Holdings Inc. provides production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. It offers HPGL and conventional gas lift, plunger lift, vapor recovery units, methane abatement technologies, digital monitoring, remote control, manufacturing, rental, sales and long-term service contracts. The business operates through two principal segments: Production Solutions (artificial lift, production optimization, digital and methane abatement) and Natural Gas Technologies (VRUs and packaged natural gas systems). Flowco serves customers across major onshore U.S. oil and gas regions through a network of service centers, manufacturing and repair facilities and contracted deployments.

Summary from filing dated 2025-03-20

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
Rentals	418	277	169
Sales	342	259	75
Total revenues	760	535	243
Cost of rentals (exclusive of depreciation and amortization disclosed separately below)	114	74	42
Cost of sales (exclusive of depreciation and amortization disclosed separately below)	232	190	63
Selling, general and administrative expenses	119	62	15
Depreciation and amortization	145	91	44
Loss on sale of equipment	742,000	797,000	1
Income from operations	149	117	78
Interest expenses	−19	−32	−19
Loss on debt extinguishment	0	−221,000	0
Other income (expenses), net	740,000	−3	−910,000
Total other expenses	−18	−35	−20
Income before provision for income taxes	131	81	58
Income tax benefit (provision)	842,000	−1	−379,000
Net income	132	80	58
Net income attributable to redeemable non-controlling interests	90	—	—
Net income attributable to Flowco Holdings Inc.	41	—	—
Basic earnings per share	1.53	—	—
Diluted earnings per share	1.24	—	—
Weighted average shares outstanding, Basic	27	—	—
Weighted average shares outstanding, Diluted	91	—	—

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
Cash and cash equivalents	5	5	—	—
Accounts receivable, net of allowances for credit losses of $1,079 and $1,169, respectively (Note 1)	100	120	—	—
Inventory	150	151	—	—
Prepaid expenses and other current assets	6	10	—	—
Total current assets	260	286	—	—
Property, plant and equipment, net	798	703	—	—
Operating lease right-of-use assets	18	19	—	—
Finance lease right-of-use assets	26	22	—	—
Intangible assets, net (Note 6)	273	303	—	—
Goodwill (Note 6)	250	250	2	—
Deferred tax asset	17	0	—	—
Other assets	5	7	—	—
Total assets	1,646	1,589	—	—
Accounts payable	23	31	—	—
Accrued expenses	27	34	—	—
Current portion of operating lease obligations	8	7	—	—
Current portion of finance lease obligations	13	8	—	—
Deferred revenue	7	8	—	—
Total current liabilities	78	88	—	—
Long-term debt, net	168	636	—	—
Tax receivable agreement liability	22	0	—	—
Operating lease obligations, net of current portion	10	13	—	—
Finance lease obligations, net of current portion	11	13	—	—
Total long-term liabilities	210	662	—	—
Total liabilities	288	750	—	—
Commitments and contingencies (Note 14)	—	—	—	—
Redeemable non-controlling interests	1,129	0	0	0
Members' equity	0	839	—	—
Total members' equity	0	839	—	—
Additional paid-in capital	69	0	—	—
Retained earnings	159	0	—	—
Total stockholders' equity to Flowco Holdings Inc.	229	0	—	—
Total liabilities, redeemable non-controlling interests and members'/stockholders' equity	1,646	1,589	—	—

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
Provision for inventory obsolescence	2	2	3
Amortization of operating right-of-use assets	10	4	508,000
Amortization of deferred financing costs	1	714,000	400,000
Gain on lease termination	−944,000	−958,000	0
Stock-based compensation	11	992,000	85,000
Provision for deferred income taxes	−2	0	0
Allowance for credit losses	1	636,000	310,000
Accounts receivable	19	−15	−17
Inventory	−76,000	22	−7
Prepaid expenses and other current assets	4	−3	−1
Other assets and liabilities	−82,000	864,000	0
Accounts payable - trade	−8	739,000	0
Accrued expenses	−7	−4	−508,000
Deferred revenue	−626,000	−4	−515,000
Operating lease liabilities	−10	864,000	805,000
Finance lease liabilities	2	2	0
Net cash provided by operating activities	294	179	82
Asset acquisition	−72	−7	0
Additions to property, plant and equipment	−127	−90	−44
Payment of contingent consideration related to a business combination	−548,000	0	0
Proceeds from sale of property, plant and equipment	467,000	166,000	841,000
Net cash acquired in 2024 Business Combination	0	3	0
Payment for capitalized patent costs	−571,000	−193,000	0
Net cash used in investing activities	−200	−94	−43
Issuance of Class A common stock in IPO, net of underwriting discount	462	0	0
Payment of offering costs	−2	0	0
Repurchase of Class A common stock	−15	0	0
Payments on long-term debt	−1,115	−296	−174
Proceeds from long-term debt	647	460	188
Payments on finance lease obligations	−15	−8	−2
Proceeds on finance lease terminations	469,000	715,000	0
Purchase of LLC Interests from Continuing Equity Owners	−21	0	0
Payment of debt issuance costs	−13,000	−7	0
Payment of dividend equivalent units	−10,000	0	0
Payment of tax withheld on stock-based compensation	−296,000	0	0
Distributions to members of Flowco LLC	−29	−231	−53
Dividends paid to Flowco Holdings Inc. shareholders	−7	0	0
Net cash used in financing activities	−95	−80	−39
Net increase (decrease) in cash and cash equivalents	−93,000	5	0
Cash paid for interest	16	29	19
Federal	5	0	0
Aggregated state and local jurisdictions	0	0	0
Net cash paid (refunds received) for income taxes	5	0	0
Noncash debt refinancing of long-term debt with Revolving Credit Facility	0	419	0
Issuance of 64,823,042 shares of Class B common stock to the Continuing Equity Owners, net of redemption of certain LLC Interests and Blocker Shareholders' exchange to Class A shares	0	0	0
Issuance of 5,251,620 shares of Class A common stock to the Blocker Shareholders in exchange of LLC Interests	0	0	0
Establishment of deferred tax asset under Tax Receivable Agreement and at the IPO	17	0	0
Establishment of liabilities under Tax Receivable Agreement in the IPO	22	0	0
Issuance of 4.9 million Class A Units in exchange for the net assets acquired in a Business Combination	0	855	0
Issuance of 5.1 million Class A Units in exchange for 1,000 Common Units of Estis	0	0	0
Lease liabilities arising from obtaining operating right-of-use assets	5	6	5
Lease liabilities arising from obtaining financing right-of-use assets	18	8	2

Filings

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