Mistras Group, Inc.

Listed Company

MGCIK 0001436126NYSEAcceleratedServices-Engineering ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$724.02M

Net Income

$16.84M

Total Assets

$578.78M

Equity

$235.10M

Shares Out

31.60M

Op. Cash Flow

$32.98M

Business

Mistras Group, Inc. is a multinational provider of integrated, technology-enabled asset integrity and protection solutions that help maximize safety and operational uptime for critical industrial and civil assets. It offers non‑destructive testing and field inspections, in‑house laboratory QA/QC and materials testing, data analytical software and monitoring platforms (including OneSuite and PCMS), sensors and NDT equipment, maintenance and light mechanical services, and engineering consulting. The company operates through three segments: North America, International and Products and Systems, covering services, software and manufactured equipment. It serves oil and gas, petrochemical, aerospace and defense, power generation, industrials, infrastructure and other process industries across North America, Europe, the Middle East, Africa, Asia and South America through onsite field work, laboratories, direct sales and cloud delivery.

Summary from filing dated 2025-03-11

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	724	730	705	687	677
Cost of revenue	497	514	497	467	457
Depreciation	22	24	24	23	23
Gross profit	205	192	184	198	197
Selling, general and administrative expenses	140	135	147	166	161
Reorganization and other costs	13	6	12	195,000	0
Environmental expense	2	2	0	0	—
Goodwill impairment charges	0	0	14	0	0
Legal settlement and litigation charges (benefit), net	0	−808,000	1	−994,000	2
Research and engineering	1	1	2	2	3
Depreciation and amortization	9	9	10	11	12
Income (loss) from operations	41	40	−2	20	18
Other expense (income), net	3	−1	0	—	—
Interest expense	15	17	17	11	—
Income (loss) before provision (benefit) for income taxes	22	24	−19	9	7
Provision (benefit) for income taxes	6	5	−1	3	3
Net income (loss)	17	19	−17	7	4
Less: net income attributable to noncontrolling interests, net of taxes	84,000	12,000	8,000	—	—
Net income (loss) attributable to Mistras Group, Inc.	17	19	−17	6	4
Basic (in dollars per share)	0.54	0.61	−0.58	0.22	0.13
Diluted (in dollars per share)	0.53	0.6	−0.58	0.21	0.13
Basic (in shares)	31	31	30	30	30
Diluted (in shares)	32	32	30	30	30

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	28	18	18	20	24
Accounts receivable, net	155	127	133	124	110
Inventories	14	14	15	14	13
Prepaid expenses and other current assets	20	12	15	10	15
Total current assets	216	172	180	168	161
Property, plant and equipment, net	93	81	81	78	87
Intangible assets, net	38	40	44	49	59
Goodwill	185	181	187	200	205
Deferred income taxes	5	6	2	779,000	2
Other assets	41	42	40	40	47
Total Assets	579	523	535	535	562
Accounts payable	15	11	17	13	13
Accrued expenses and other current liabilities	88	85	84	78	84
Current portion of long-term debt	13	12	9	7	20
Current portion of finance lease obligations	7	5	5	4	4
Income taxes payable	1	2	1	2	755,000
Total current liabilities	124	115	117	104	121
Long-term debt, net of current portion	165	158	181	184	182
Obligations under finance leases, net of current portion	17	15	11	10	10
Deferred income taxes	1	2	3	6	8
Other long-term liabilities	35	34	32	32	39
Total Liabilities	343	324	344	336	361
Commitments and contingencies (Note $17)	—	—	—	—	—
Preferred stock, 10,000,000 shares authorized	0	0	0	0	0
Common stock, $0.01 par value, 200,000,000 shares authorized, 31,567,434 and 31,010,375 shares issued	499,000	402,000	305,000	298,000	295,000
Additional paid-in capital	257	251	247	243	239
Retained earnings (accumulated deficit)	7	−10	−29	−11	−18
Accumulated other comprehensive loss	−29	−43	−28	−33	−20
Total Mistras Group, Inc. stockholders equity	235	199	190	198	201
Non-controlling interests	541,000	327,000	311,000	299,000	229,000
Total Equity	236	199	191	199	201
Total Liabilities and Equity	579	523	535	535	562

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
Depreciation and amortization	31	33	34	33	35
Deferred income taxes	304,000	−5	−5	−517,000	87,000
Share-based compensation	8	5	6	5	5
Goodwill impairment charges	0	0	14	0	0
Bad debt provision for troubled customers, net of recoveries	2	846,000	346,000	—	—
Foreign currency loss (gain)	3	−2	1	−208,000	417,000
Other	−3	−437,000	−437,000	786,000	119,000
Accounts receivable	−25	1	−8	−17	−4
Inventories	772,000	100,000	−2	−1	278,000
Prepaid expenses and other assets	−7	1	−2	6	943,000
Accounts payable	3	−5	4	−93,000	−1
Accrued expenses and other liabilities	2	1	4	−6	2
Income taxes payable	−326,000	655,000	−580,000	1	−2
Payment of contingent consideration in excess of initial estimate	0	0	−937,000	−533,000	0
Net cash provided by operating activities	33	50	27	26	42
Purchase of property, plant and equipment	−25	−18	−21	−13	−18
Purchase of intangible assets	−5	−5	−3	—	—
Proceeds from sale of equipment	4	2	2	1	1
Net cash used in investing activities	−25	−21	−22	−12	−19
Repayment of finance lease obligations	−7	−5	−5	−4	−4
Proceeds from borrowings of long-term debt	0	0	611,000	125	0
Repayment of long-term debt	−12	−9	−8	−81	−16
Proceeds from revolver	82	72	83	193	89
Repayments of revolver	−62	−84	−77	−247	−89
Taxes paid related to net share settlement of share-based awards	−2	−1	−2	−977,000	−1
Net cash used in financing activities	−595,000	−27	−8	−16	−23
Effect of exchange rate changes on cash and cash equivalents	2	−694,000	249,000	−1	−2
Net change in cash and cash equivalents	10	671,000	−3	−4	−2
Interest, net	13	16	17	9	10
Income taxes, net	9	6	7	−3	5
Equipment acquired through finance lease obligations	10	10	7	5	3

Filings

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