FLOTEK INDUSTRIES INC/CN/

Listed Company

FTKCIK 0000928054NYSEAcceleratedSmaller ReportingMiscellaneous Chemical ProductsDelawareDEFY ends Dec 31

Period

FY 2025

Revenue

$237.26M

Net Income

$30.53M

Total Assets

$220.05M

Equity

$113.06M

Shares Out

36.17M

Op. Cash Flow

$7.20M

Business

FLOTEK INDUSTRIES INC/CN/ creates solutions to reduce the environmental impact of energy by combining specialty chemistry and data technologies to improve operational and environmental performance for industrial and commercial customers. It offers proprietary green and specialty chemical formulations, logistics and technology services, and real-time near-infrared spectrometer-based data analytics and Verax analyzers for composition and process optimization. Operations are organized into two segments—Chemistry Technologies (CT) and Data Analytics (DA)—supported by Research & Innovation (R&I) laboratories. The company serves domestic and international energy markets via direct and agency sales channels, focusing on North America and emerging Middle East and Latin America markets.

Summary from filing dated 2025-03-12

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
Total revenues	237	187	188	136	40
Cost of sales	177	148	164	143	40
Gross profit	60	39	24	−7	3
Selling, general, and administrative	28	25	28	27	20
Asset acquisition expenses	4	0	—	—	—
Depreciation	2	900,000	700,000	700,000	1
Research and development	2	2	2	4	6
Severance expense	530,000	0	−46,000	0	—
Gain on sale of property and equipment	−7,000	−124,000	−38,000	−3	−94,000
Total operating costs and expenses	37	27	1	29	35
Income from operations	23	12	23	−35	−31
Interest expense	−4	−1	−3	—	—
Other income, net	348,000	46,000	−26,000	145,000	87,000
Total other expense	−4	−1	2	−7	890,000
Income before income taxes	20	11	25	−42	−31
Income tax benefit (expense)	11	−649,000	−149,000	22,000	40,000
Net income	31	10	25	−42	−31
Basic (in dollars per share)	0.9	0.36	1	−3.41	−0.42
Diluted (in dollars per share)	0.84	0.34	−0.1	−3.41	−0.42
Weighted average common shares used in computing basic income per common share (in shares)	34	30	25	12	73
Weighted average common shares used in computing diluted income per common share (in shares)	36	31	28	12	73

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	6	4	6	12	12
Restricted cash	100,000	100,000	100,000	100,000	2
Inventories, net	11	13	13	16	9
Other current assets	3	3	4	3	4
Current contract asset	8	6	6	7	0
Total current assets	111	96	76	80	43
Long-term contract asset	55	63	69	73	0
Property and equipment, net	20	6	5	5	5
Right-of-use assets	3	3	—	—	—
Deferred tax assets, net	29	51,000	300,000	404,000	279,000
Other long-term assets	2	2	2	1	29,000
TOTAL ASSETS	220	171	158	165	50
Accounts payable	48	38	32	33	8
Accrued liabilities	7	6	6	9	9
Income taxes payable	258,000	48,000	45,000	97,000	4,000
Interest payable, related party	1	0	—	—	—
Current portion of operating lease liabilities	1	1	2	3	602,000
Current portion of finance lease liabilities	153,000	0	22,000	36,000	41,000
Asset-based loan	3	5	7	0	—
Current portion of long-term debt	0	60,000	179,000	2	1
Total current liabilities	62	50	48	151	19
Deferred revenue, long-term	0	14,000	35,000	44,000	91,000
Note payable - related party, net of deferred financing costs	40	0	—	—	—
Long-term operating lease liabilities	6	7	8	8	8
Long-term finance lease liabilities	224,000	0	0	19,000	53,000
TOTAL LIABILITIES	107	57	56	162	30
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025; 30,938,073 shares issued and 29,826,508 shares outstanding at December 31, 2024	3,000	3,000	3,000	1,000	8,000
Additional paid-in capital	435	465	463	388	363
Accumulated other comprehensive income	96,000	251,000	127,000	181,000	81,000
Accumulated deficit	−286	−316	−327	−352	−309
Treasury stock, at cost; 1,190,480 and 1,111,565 shares at December 31, 2025 and December 31, 2024, respectively	−36	−35	−35	−34	−34
Total stockholders equity	113	114	102	3	20
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	220	171	158	165	50

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
Change in fair value of contingent consideration	−127,000	71,000	−527,000	−25,000	−808,000
Amortization of contract assets	6	6	5	3	0
Amortization of deferred financing costs	345,000	314,000	83,000	1	0
Provision for credit losses, net of recoveries	603,000	181,000	138,000	203,000	−127,000
Provision for excess and obsolete inventory	442,000	645,000	959,000	2	623,000
Non-cash lease expense	1	2	3	226,000	279,000
Stock compensation expense	2	1	−254,000	3	4
Deferred income tax (benefit) expense	−11	249,000	104,000	−125,000	−56,000
Accounts receivable	−2	−4	5	−7	−106,000
Accounts receivable, related party	−37	−18	−12	−21	−1
Inventories	3	−1	2	−8	2
Income tax receivable	−32,000	8,000	0	14,000	381,000
Other assets	−473,000	561,000	−836,000	−285,000	−609,000
Accounts payable	10	6	−2	26	2
Accrued liabilities	1	−70,000	−3	−34,000	−860,000
Operating lease liabilities	−1	−3	−3	−507,000	−603,000
Income taxes payable	210,000	3,000	−53,000	93,000	−17,000
Interest payable, related party	1	0	—	—	—
Net cash provided by operating activities	7	3	−11	−45	−26
Capital expenditures	−2	−2	−1	−421,000	−39,000
Proceeds from sale of assets	7,000	124,000	67,000	6	151,000
Net cash used in investing activities	−2	−2	−1	5	112,000
Payments on long term debt	−60,000	−179,000	−149,000	0	—
Proceeds from asset-based loan	187	167	69	0	—
Payments on asset-based loan	−188	−170	−61	0	—
Payments of asset-based loan origination costs	−169,000	−164,000	—	—	—
Payment of note payable issuance costs	−480,000	0	−574,000	0	—
Payment of stock warrant issuance costs	−653,000	0	0	−1	0
Payments to tax authorities for shares withheld from employees	−2	−162,000	−268,000	−224,000	−390,000
Proceeds from issuance of stock under Employee Stock Purchase Plan	155,000	114,000	77,000	133,000	80,000
Proceeds from stock option exercises	576,000	0	—	—	—
Payments for finance leases	−96,000	−22,000	−33,000	−38,000	−62,000
Net cash used in financing activities	−4	−3	6	38	−372,000
Effect of changes in exchange rates on cash and cash equivalents	−155,000	124,000	−54,000	100,000	100,000
Net change in cash and cash equivalents and restricted cash	1	−1	−6	−934,000	−26

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