NCS Multistage Holdings, Inc.
Business
NCS Multistage Holdings, Inc. is a provider of engineered products and support services for oil and natural gas well construction, completion and field development, serving E&P companies in North America and select international markets. Primary offerings include fracturing systems enabling pinpoint stimulation, enhanced recovery systems, tracer diagnostics services, well construction products, and frac plugs through its majority-owned Repeat Precision joint venture. The company operates through integrated product lines serving onshore and offshore horizontal wells in unconventional and conventional formations across the United States, Canada, North Sea, Middle East and Argentina.
Summary from 10-K filed 2026-03-05
Financials
Consolidated Statement of Income
| Concept | Trend | 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 | 184 | 163 | 142 | — | — | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | 108 | 95 | 87 | — | — | |
| Selling, general and administrative expenses | 59 | 58 | 57 | 58 | 49 | |
| Depreciation | 5 | 5 | 4 | 4 | 4 | |
| Amortization | 894,000 | 716,000 | 669,000 | — | — | |
| Change in fair value of contingent consideration | 156,000 | 0 | — | — | — | |
| Income from operations | 11 | 4 | −6 | −2 | −5 | |
| Interest expense, net | −251,000 | −414,000 | −586,000 | −1 | −733,000 | |
| Provision for litigation, net of recoveries | 881,000 | 0 | −2 | — | — | |
| Other income, net | 5 | 7 | 4 | 3 | 2 | |
| Foreign currency exchange gain (loss) | 891,000 | −3 | 462,000 | −283,000 | 283,000 | |
| Total other income | 6 | 4 | 2 | 2 | 2 | |
| Income before income tax | 17 | 8 | −3 | −601,000 | −4 | |
| Income tax (benefit) expense | −9 | 100,000 | −200,000 | 351,000 | 263,000 | |
| Net income | 26 | 8 | −3 | −952,000 | −4 | |
| Net income attributable to non-controlling interest | 2 | 2 | 42,000 | 150,000 | 955,000 | |
| Net income attributable to NCS Multistage Holdings, Inc. | 24 | 7 | −3 | −1 | −5 | |
| Basic earnings per common share attributable to NCS Multistage Holdings, Inc. (in dollars per share) | 9.17 | 2.6 | −1.27 | −0.45 | −1.98 | |
| Diluted earnings per common share attributable to NCS Multistage Holdings, Inc. (in dollars per share) | 8.65 | 2.55 | −1.27 | −0.45 | −1.98 | |
| Basic (in shares) | 3 | 3 | 2 | 2 | 2 | |
| Diluted (in shares) | 3 | 3 | 2 | 2 | 2 |
Consolidated Balance Sheet
| Concept | Trend | 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 | 37 | 26 | 17 | 16 | 22 | |
| Accounts receivabletrade, net | 41 | 32 | 24 | 28 | 24 | |
| Inventories, net | 39 | 41 | 42 | 37 | 34 | |
| Prepaid expenses and other current assets | 2 | 2 | 2 | 3 | 3 | |
| Other current receivables | 4 | 5 | 4 | 4 | 5 | |
| Total current assets | 122 | 106 | 103 | 88 | 88 | |
| Property and equipment, net | 20 | 21 | 23 | — | — | |
| Goodwill | 16 | 15 | 15 | 15 | 15 | |
| Identifiable intangibles, net | 6 | 4 | 4 | 5 | 6 | |
| Operating lease assets | 5 | 6 | 5 | 5 | 5 | |
| Deposits and other assets | 586,000 | 712,000 | 937,000 | — | — | |
| Deferred income taxes, net | 12 | 424,000 | 66,000 | 46,000 | 236,000 | |
| Total noncurrent assets | 59 | 47 | 49 | 51 | 54 | |
| Total assets | 181 | 153 | 152 | 139 | 142 | |
| Accounts payabletrade | 9 | 9 | 6 | 8 | 8 | |
| Accrued expenses | 9 | 8 | 4 | 4 | 6 | |
| Income taxes payable | 1 | 683,000 | 364,000 | 468,000 | 294,000 | |
| Operating lease liabilities | 2 | 2 | 2 | 1 | 2 | |
| Contingent purchase consideration | 1 | 0 | — | — | — | |
| Current maturities of long-term debt | 2 | 2 | 2 | 1 | 1 | |
| Other current liabilities | 4 | 4 | 3 | 3 | 3 | |
| Total current liabilities | 29 | 25 | 32 | 18 | 20 | |
| Long-term debt, less current maturities | 5 | 6 | 6 | 6 | 6 | |
| Operating lease liabilities, long-term | 4 | 5 | 4 | 4 | 4 | |
| Other long-term liabilities | 202,000 | 206,000 | 213,000 | 1 | 2 | |
| Deferred income taxes, net | 398,000 | 186,000 | 249,000 | 199,000 | 114,000 | |
| Total noncurrent liabilities | 10 | 11 | 11 | 12 | 12 | |
| Total liabilities | 38 | 37 | 43 | 29 | 32 | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | — | — | |
| Common stock, $0.01 par value, 11,250,000 shares authorized, 2,613,603 shares issued and 2,545,535 shares outstanding at December 31, 2025 and 2,563,979 shares issued and 2,507,430 shares outstanding at December 31, 2024 | 26,000 | 26,000 | 25,000 | 24,000 | 24,000 | |
| Additional paid-in capital | 450 | 447 | 445 | 440 | 437 | |
| Accumulated other comprehensive loss | −86 | −88 | −86 | −86 | −82 | |
| Retained deficit | −235 | −259 | −266 | −262 | −261 | |
| Treasury stock, at cost; 68,068 shares at December 31, 2025 and 56,549 shares at December 31, 2024 | −2 | −2 | −2 | — | — | |
| Total stockholders equity | 126 | 99 | 92 | 91 | 93 | |
| Non-controlling interest | 17 | 17 | 18 | 18 | 18 | |
| Total equity | 143 | 116 | 109 | 109 | 111 | |
| Total liabilities and stockholders' equity | 181 | 153 | 152 | 139 | 142 |
Consolidated Statement of Cash Flows
| Concept | Trend | 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 | 6 | 5 | 5 | 4 | 5 | |
| Amortization of deferred loan cost | 215,000 | 208,000 | 204,000 | 231,000 | 281,000 | |
| Share-based compensation | 6 | 5 | 5 | 6 | 7 | |
| Provision for inventory obsolescence | 857,000 | 1 | 1 | 3 | 2 | |
| Deferred income tax benefit | −11 | −380,000 | 152,000 | 266,000 | 96,000 | |
| Gain on sale of property and equipment | −496,000 | −506,000 | 258,000 | −361,000 | −378,000 | |
| (Recovery of) provision for credit losses | −28,000 | 41,000 | 162,000 | −61,000 | — | |
| Net foreign currency unrealized (gain) loss | −2 | 2 | −485,000 | — | — | |
| Proceeds from note receivable | 0 | 61,000 | 546,000 | — | — | |
| Accounts receivabletrade | −5 | −9 | 4 | — | — | |
| Inventories, net | 2 | −3 | −6 | −8 | −939,000 | |
| Prepaid expenses and other assets | 4 | −1 | 3 | 1 | −437,000 | |
| Accounts payabletrade | 427,000 | 3 | −1 | 1 | 3 | |
| Accrued expenses | 719,000 | 5 | −649,000 | −2 | 3 | |
| Other liabilities | −6 | −3 | −3 | −3 | −3 | |
| Income taxes receivable/payable | 134,000 | 34,000 | −209,000 | 364,000 | 4 | |
| Net cash provided by operating activities | 22 | 13 | 5 | −1 | 12 | |
| Purchases of property and equipment | −1 | −1 | −2 | −1 | −495,000 | |
| Purchase and development of software and technology | −106,000 | −70,000 | −310,000 | — | — | |
| Proceeds from sales of property and equipment | 772,000 | 592,000 | 509,000 | 433,000 | 389,000 | |
| Acquisition of business, net of cash acquired | −6 | 0 | — | — | — | |
| Proceeds from company-owned life insurance policy | 0 | 1 | 0 | — | — | |
| Net cash (used in) provided by investing activities | −6 | 479,000 | −2 | −698,000 | −444,000 | |
| Payments on finance leases | −2 | −2 | −2 | — | — | |
| Line of credit borrowings | 2 | 3 | 12 | 12 | 360,000 | |
| Payments of line of credit borrowings | −2 | −3 | −12 | −12 | −360,000 | |
| Treasury shares withheld | −326,000 | −267,000 | −287,000 | — | — | |
| Distribution to non-controlling interest | −3 | −2 | −500,000 | — | −3 | |
| Payment of deferred loan cost related to ABL Facility | −55,000 | 0 | — | — | — | |
| Net cash used in financing activities | −5 | −4 | −2 | −3 | −4 | |
| Net change in cash and cash equivalents | 11 | 9 | 486,000 | −6 | 7 | |
| Effect of exchange rate changes on cash and cash equivalents | 266,000 | 225,000 | −164,000 | −1 | −251,000 | |
| Cash paid for interest (net of interest received and amounts capitalized) | 75,000 | 173,000 | 377,000 | 557,000 | 423,000 | |
| Cash paid for income taxes (net of refunds) | 2 | 431,000 | −144,000 | −303,000 | −4 | |
| Assets obtained in exchange for new finance lease liabilities | 2 | 2 | 2 | 2 | 4 | |
| Assets obtained in exchange for new operating lease liabilities | 405,000 | 3 | 2 | 1 | 2 | |
| Debt assumed in acquisition of business | 324,000 | 0 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is NCS Multistage Holdings, Inc.'s CIK number?
NCS Multistage Holdings, Inc.'s SEC CIK number is 0001692427 (1692427). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find NCS Multistage Holdings, Inc.'s SEC filings?
All of NCS Multistage Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did NCS Multistage Holdings, Inc. last report earnings?
NCS Multistage Holdings, Inc. (NCSM) most recently filed an earnings 8-K with the SEC on Apr 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-013883). This is NCS Multistage Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is NCS Multistage Holdings, Inc.'s most recent earnings 8-K?
NCS Multistage Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 29, 2026 under accession 0001437749-26-013883. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View NCS Multistage Holdings, Inc.'s latest earnings 8-K →
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