Nine Energy | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 147.25 M

LB filings
2025.08.05 21:23
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Revenue: As of FY2025 Q2, the actual value is USD 147.25 M, beating the estimate of USD 143 M.

EPS: As of FY2025 Q2, the actual value is USD -0.25, missing the estimate of USD -0.22.

EBIT: As of FY2025 Q2, the actual value is USD 12.16 M.

Segment Revenue

  • Cementing Revenue: Increased by $6.4 million, or 14%, to $52.2 million for the three months ended June 30, 2025, compared to $45.8 million for the same period in 2024. For the six months ended June 30, 2025, cementing revenue increased by $15.3 million, or 16%, to $109.3 million compared to $94.1 million in 2024.
  • Coiled Tubing Revenue: Decreased by $1.1 million, or 4%, to $25.1 million for the three months ended June 30, 2025, compared to $26.2 million for the same period in 2024. For the six months ended June 30, 2025, coiled tubing revenue decreased by $2.0 million, or 4%, to $54.9 million compared to $56.9 million in 2024.
  • Wireline Revenue: Increased by $5.0 million, or 18%, to $33.0 million for the three months ended June 30, 2025, compared to $28.0 million for the same period in 2024. For the six months ended June 30, 2025, wireline revenue increased by $6.7 million, or 12%, to $62.6 million compared to $55.8 million in 2024.
  • Tools Revenue: Increased by $4.6 million, or 14%, to $37.0 million for the three months ended June 30, 2025, compared to $32.4 million for the same period in 2024. For the six months ended June 30, 2025, tools revenue increased by $3.2 million, or 5%, to $70.9 million compared to $67.7 million in 2024.

Operational Metrics

  • Net Loss: Decreased by $3.7 million, or 26%, to $10.4 million for the three months ended June 30, 2025, compared to $14.0 million for the same period in 2024. For the six months ended June 30, 2025, net loss decreased by $4.6 million, or 21%, to $17.5 million compared to $22.1 million in 2024.
  • Adjusted EBITDA: Increased by $4.4 million, or 45%, to $14.1 million for the three months ended June 30, 2025, compared to $9.7 million for the same period in 2024. For the six months ended June 30, 2025, Adjusted EBITDA increased by $5.9 million, or 24%, to $30.7 million compared to $24.8 million in 2024.

Cash Flow

  • Net Cash Provided by Operating Activities: Increased to $4.8 million for the six months ended June 30, 2025, compared to $4.1 million for the same period in 2024.
  • Net Cash Used in Investing Activities: Increased to $9.7 million for the six months ended June 30, 2025, compared to $8.1 million for the same period in 2024.
  • Net Cash Used in Financing Activities: Increased to $5.5 million for the six months ended June 30, 2025, compared to $0.7 million for the same period in 2024.

Future Outlook and Strategy

  • Core Business Focus: The company plans to improve revenue and margins in a lower rig count environment by gaining market share with current and new customers, growing its international tools business, continuing research and development and technology advances, constructing a new completion tools facility, and potentially expanding into new geographies.
  • Non-Core Business: The company remains cautiously optimistic about the long-term outlook for the energy sector, particularly in natural gas basins, and plans to play both offense and defense to improve revenue and margins.
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