- \n
- \nQ2 25 revenue came in the upper end of original guidance, despite US rig declines throughout the quarter<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nRevenue, net loss and adjusted EBITDAA <\/sup>of $147.3 million, $(10.4) million and $14.1 million, respectively, for the second quarter of 2025<\/p>\n<\/li>\n
- \nQ2 25 Completion Tool revenue increased by ~9% and Q2 Wireline revenue increased by ~11% quarter over quarter<\/p>\n<\/li>\n
- \nTotal H1 2025 international revenue increased by ~20% compared to H1 2024<\/p>\n<\/li>\n
- \nTotal liquidity as of June 30, 2025 of $65.5 million<\/p>\n<\/li>\n<\/ul>\n
HOUSTON–(BUSINESS WIRE<\/a>)–
\nNine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) reported second quarter 2025 revenues of $147.3 million, net loss of $(10.4) million, or $(0.25) per diluted share and $(0.25) per basic share, and adjusted EBITDA of $14.1 million. The Company provided original second quarter 2025 revenue guidance between $138.0 and $148.0 million, with actual results in the upper end of the provided range.<\/p>\n\n\u201cDespite significant rig declines in the US land market throughout Q2, our revenue came in at the upper end of our original guidance,\u201d said Ann Fox, President and Chief Executive Officer, Nine Energy Service.<\/p>\n
\n\u201cFollowing the announcement of US imposed tariffs in April, we saw WTI prices decline in Q2, falling below $60 for the first time in four years. The decline in commodity prices, coupled with global uncertainty and increased costs, resulted in US activity declines throughout the quarter. Between March 28th<\/sup> and July 3rd<\/sup>, over 50 rigs came out of the US market, the majority of which came out of oil-levered basins like the Permian. With these activity declines, we began to receive pricing pressure across service lines, which negatively impacted revenue and earnings during the second quarter.\u201d<\/p>\n
\n\u201cNatural gas prices also declined during Q2 but remain mostly supportive. We have begun to see a more positive sentiment in natural gas levered basins, as well as more consistent, efficient operations, which has benefited Nine, most specifically in the Northeast. Natural gas continues to be a potential catalyst for Nine, and we remain positive on the long-term outlook for natural gas.\u201d<\/p>\n
\n\u201cDespite a challenging macro backdrop, Nine\u2019s operations performed well this quarter. Our Completion Tool business increased revenue by ~9% quarter over quarter, driven mostly by an increase in international revenue and stronger sales in gas-levered basins like the Haynesville and Northeast. Additionally, our Wireline business increased revenue by ~11% this quarter, a result of more efficient operations in the Northeast and incremental market share in our remedial wireline business.\u201d<\/p>\n
\n\u201cWe are playing both offense and defense to improve revenue and margins in a lower rig count environment. This includes market share gains with current and new customers, growing our international tools business, R&D and technology advances, construction of our new completion tool facility and potential expansion into new geographies. We are also simultaneously reducing costs without impeding the quality of our service and technology. In Q3 we will see full quarter realizations of activity and pricing declines that occurred throughout Q2, and because of this, anticipate Q3 revenue and earnings will be down compared to Q2.\u201d<\/p>\n
\n\u201cWe are nimble and diversified in both our service and technology offerings and commodity exposure. This has and will continue to allow us to navigate these uncertain markets, while still being able to capitalize on any potential growth opportunities both domestically and internationally.\u201d<\/p>\n
Operating Results<\/b><\/p>\n
\nDuring the second quarter of 2025, the Company reported revenues of $147.3 million, gross profit of $17.3 million and adjusted gross profitB<\/sup> of $25.8 million. During the second quarter, the Company generated ROIC of (-16.2)% and adjusted ROICC<\/sup> of 6.7%.<\/p>\n
\nDuring the second quarter of 2025, the Company reported general and administrative (\u201cG&A\u201d) expense of $13.9 million. Depreciation and amortization expense (“D&A”) in the second quarter of 2025 was $8.6 million.<\/p>\n
\nThe Company\u2019s tax benefit was approximately $0.3 million year to date. The benefit for 2025 is the result of a $0.5 million discrete tax benefit recorded during the second quarter of 2025, offset by tax positions in state and non-U.S. jurisdictions.<\/p>\n
Liquidity and Capital Expenditures<\/b><\/p>\n
\nDuring the second quarter of 2025, the Company reported net cash provided by operating activities of $10.1 million. Capital expenditures totaled $6.1 million during the second quarter of 2025 and totaled $10.4 million for the first half of 2025. The Company\u2019s full-year 2025 capex guidance is unchanged at $15 to $25 million.<\/p>\n
\nAs of June 30, 2025, Nine\u2019s cash and cash equivalents were $14.2 million, and the Company had $51.3 million of availability under its revolving credit facility, resulting in a total liquidity position of $65.5 million as of June 30, 2025. On June 30, 2025, the Company had $49.4 million of borrowings under its revolving credit facility. In July 2025, the Company borrowed an additional $13.4 million under its revolving credit facility.<\/p>\n
\nDuring the second quarter of 2025, the Company did not sell any shares of common stock under its at-the-market equity offering program.<\/p>\n
\n
\n \n ABC<\/sup>See end of press release for definitions of these non-GAAP measures. These measures are intended to provide additional information only and should not be considered as alternatives to, or more meaningful than, net income (loss), gross profit or any other measure determined in accordance with GAAP. Certain items excluded from these measures are significant components in understanding and assessing a company\u2019s financial performance, such as a company\u2019s cost of capital and tax structure, as well as the historic costs of depreciable assets. Our computation of these measures may not be comparable to other similarly titled measures of other companies.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Conference Call Information<\/b><\/p>\n
\nThe call is scheduled for Wednesday, August 6, 2025, at 9:00 am Central Time. Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the \u201cNine Energy Service Earnings Call\u201d. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.<\/p>\n
\nFor those who cannot listen to the live call, a telephonic replay of the call will be available through August 20, 2025 and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and entering the passcode of 13754403.<\/p>\n
About Nine Energy Service<\/b><\/p>\n
\nNine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, Haynesville, SCOOP\/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.<\/p>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands, Except Share and Per Share Amounts)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Revenues<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n147,251<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n150,466<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Cost and expenses<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nCost of revenues (exclusive of depreciation and amortization shown separately below)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n121,439<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n122,470<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative expenses<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n13,874<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n13,263<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,837<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangibles<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on revaluation of contingent liability<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n48<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss (gain) on sale of property and equipment<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(80<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n446<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Income from operations<\/td>\n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,378<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,629<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,729<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,876<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(319<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(139<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(187<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(162<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n Loss before income taxes<\/td>\n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(10,845<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(6,946<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision (benefit) for income taxes<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(454<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n115<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Net loss<\/td>\n \u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(10,391<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(7,061<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \nLoss per share<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Basic<\/td>\n \u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(0.25<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(0.18<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n Diluted<\/td>\n \u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(0.25<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(0.18<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average shares outstanding<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Basic<\/td>\n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n40,886,710<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n40,164,443<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Diluted<\/td>\n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n40,886,710<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n40,164,443<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Other comprehensive income, net of tax<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nForeign currency translation adjustments, net of tax of $0 and $0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n228<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Total other comprehensive income, net of tax<\/td>\n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n228<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Total comprehensive loss<\/td>\n \u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(10,163<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(6,799<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Assets<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nCurrent assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nCash and cash equivalents<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n14,216<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n17,275<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted cash<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,539<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n93,992<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n95,115<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes receivable<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n185<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n54,209<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n51,186<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n8,409<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n9,159<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,366<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,657<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n175,731<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n174,577<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n68,794<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n68,562<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease right of use assets, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n37,862<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n37,064<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinance lease right of use assets, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n22<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n50<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible assets, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n73,654<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n76,450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,102<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,478<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n361,165<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n359,181<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Liabilities and Stockholders\u2019 Equity (Deficit)<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nCurrent liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nAccounts payable<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n44,145<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n46,493<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n35,648<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25,156<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes payable<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n136<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of long-term debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n913<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of operating lease obligations<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n13,069<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,086<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of finance lease obligations<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n19<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n34<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n93,930<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n86,029<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nLong-term debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n323,454<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n319,137<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term operating lease obligations<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25,426<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25,588<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n92<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n540<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n442,902<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n431,294<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \nStockholders\u2019 equity (deficit)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nCommon stock (120,000,000 shares authorized at $.01 par value; 43,370,187 and 42,348,643 shares issued and outstanding at June 30, 2025 and March 31, 2025, respectively)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n434<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n423<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n807,509<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n806,981<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated other comprehensive loss<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(4,916<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(5,144<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated deficit<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(884,764<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(874,373<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal stockholders\u2019 equity (deficit)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(81,737<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(72,113<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and stockholders\u2019 equity (deficit)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n361,165<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n359,181<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Cash flows from operating activities<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nNet loss<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(10,391<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n(7,061<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments to reconcile net loss to net cash provided by (used in) operating activities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nDepreciation<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,837<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangibles<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of deferred financing costs and non-cash interest<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n4,235<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,087<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of operating leases<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,717<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,418<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for doubtful accounts<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n34<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for inventory obsolescence<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n524<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n611<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation expense<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n539<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n750<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss (gain) on sale of property and equipment<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(80<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n446<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on revaluation of contingent liability<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n48<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChanges in operating assets and liabilities, net of effects from acquisitions<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nAccounts receivable, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,133<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(13,967<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories, net<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,412<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(928<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,040<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(448<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable and accrued expenses<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n7,934<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n4,699<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes receivable\/payable<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n319<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n98<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease obligations<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,696<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,372<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets and liabilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(431<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(302<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by (used in) operating activities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n10,088<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(5,277<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from investing activities<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nProceeds from sales of property and equipment<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n107<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchases of property and equipment<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(5,872<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,981<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in investing activities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(5,765<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,981<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from financing activities<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nProceeds from revolving credit facilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n48,946<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n4,000<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPayments on revolving credit facilities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(47,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(4,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from short-term debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPayments of short-term debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,347<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,320<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of debt issuance<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(4,507<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrincipal payments on finance leases<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(7<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(13<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPayments of contingent liability<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(223<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in financing activities<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(3,915<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,556<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nImpact of foreign currency exchange on cash<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n72<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n209<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet (decrease) increase in cash and cash equivalents<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n480<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(10,605<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash, cash equivalents, and restricted cash<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n <\/tr>\n \n \n \nBeginning of period<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n17,275<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n27,880<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnd of period<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n17,755<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n17,275<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n RECONCILIATION OF ADJUSTED EBITDA<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \u00a0<\/td>\n \n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loss<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(10,391<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(7,061<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,729<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,876<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(319<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(139<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,837<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangibles<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision (benefit) for income taxes<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(454<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n115<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n EBITDA<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n12,157<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n14,424<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on revaluation of contingent liability (1)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n48<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestructuring charges<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n306<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n539<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n750<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash award expense<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,153<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n892<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss (gain) on sale of property and equipment<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(80<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n446<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBITDA<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n14,123<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n16,537<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \n(1) Amounts relate to the revaluation of contingent liability associated with a 2018 acquisition.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n RECONCILIATION AND CALCULATION OF ADJUSTED ROIC<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Net loss<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(10,391<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(7,061<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd back:<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nInterest expense<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,729<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,876<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(319<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(139<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestructuring charges<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n306<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted after-tax net operating income<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n4,325<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n5,676<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Total capital as of prior period-end:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nTotal stockholders’ deficit<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(72,113<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(66,064<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n349,260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n350,580<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: cash and cash equivalents<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(17,275<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(27,880<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Total capital as of prior period-end:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n259,872<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n256,636<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Total capital as of period-end:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nTotal stockholders’ deficit<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(81,737<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n(72,113<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal debt<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n350,275<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n349,260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: cash and cash equivalents<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(14,216<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(17,275<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Total capital as of period-end:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n254,322<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n259,872<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Average total capital<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n257,097<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n258,254<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n ROIC<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n-16.2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n-10.9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted ROIC<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n6.7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n8.8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NINE ENERGY SERVICE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n RECONCILIATION OF ADJUSTED GROSS PROFIT (LOSS)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In Thousands)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \nJune 30, 2025<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nMarch 31, 2025<\/p>\n<\/td>\n<\/tr>\n
\n \n Calculation of gross profit:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nRevenues<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n147,251<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n150,466<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of revenues (exclusive of depreciation and amortization shown separately below)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n121,439<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n122,470<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation (related to cost of revenues)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,683<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,723<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangibles<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n<\/tr>\n
\n \n Gross profit<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n17,333<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n19,477<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n Adjusted gross profit reconciliation:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n \n \nGross profit<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n17,333<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n19,477<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation (related to cost of revenues)<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,683<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,723<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of intangibles<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n2,796<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted gross profit<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n25,812<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n27,996<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n A<\/sup>Adjusted EBITDA is defined as EBITDA (which is net income (loss) before interest, taxes, and depreciation and amortization) further adjusted for (i) goodwill, intangible asset, and\/or property and equipment impairment charges, (ii) transaction and integration costs related to acquisitions, (iii) loss or gain on revaluation of contingent liabilities, (iv) loss or gain on the extinguishment of debt, (v) loss or gain on the sale of subsidiaries, (vi) restructuring charges, (vii) stock-based compensation and cash award expense, (viii) loss or gain on sale of property and equipment, and (ix) other expenses or charges to exclude certain items which we believe are not reflective of ongoing performance of our business, such as legal expenses and settlement costs related to litigation outside the ordinary course of business. Management believes adjusted EBITDA provides useful information to us and our investors regarding our financial condition and results of operations because it allows us and them to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure and helps identify underlying trends in our operations that could otherwise be distorted by the effect of impairments, acquisitions and dispositions and costs that are not reflective of the ongoing performance of our business.<\/p>\n<\/td>\n<\/tr>\n
\n <\/tr>\n \n \n B<\/sup>Adjusted gross profit (loss) is defined as revenues less cost of revenues excluding depreciation and amortization. This measure differs from the GAAP definition of gross profit (loss) because we do not include the impact of depreciation and amortization, which represent non-cash expenses. Our management believes adjusted gross profit (loss) provides useful information to us and our investors regarding our financial condition and results of operation and helps management evaluate our operating performance by eliminating the impact of depreciation and amortization, which we do not consider indicative of our core operating performance.<\/p>\n<\/td>\n<\/tr>\n
\n <\/tr>\n \n \n C<\/sup>Adjustedreturn on invested capital (\u201cadjusted ROIC\u201d) is defined as adjusted after-tax net operating profit (loss), divided by average total capital. We define adjusted after-tax net operating profit (loss), which is a non-GAAP measure, as net income (loss) plus (i) goodwill, intangible asset, and\/or property and equipment impairment charges, (ii) transaction and integration costs related to acquisitions, (iii) interest expense (income), (iv) restructuring charges, (v) loss (gain) on the sale of subsidiaries, (vi) loss (gain) on extinguishment of debt, and (vii) the provision (benefit) for deferred income taxes. We define total capital as book value of equity (deficit) plus the book value of debt less balance sheet cash and cash equivalents. We compute and use the average of the current and prior period-end total capital in determining adjusted ROIC. Management believes adjusted ROIC provides useful information to us and our investors regarding our financial condition and results of operations because it quantifies how well we generate operating income relative to the capital we have invested in our business and illustrates the profitability of a business or project taking into account the capital invested, and management uses adjusted ROIC to assist them in capital resource allocation decisions and in evaluating business performance.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250805179980\/en\/<\/a><\/span><\/p>\n
Nine Energy Service Investor Contact:
\n<\/b>
Heather Schmidt
\n
Senior Vice President, Strategic Development and Investor Relations
\n
(281) 730-5113
\n
investors@nineenergyservice.com<\/a><\/p>\nKEYWORDS:<\/b> United States North America Texas<\/p>\n
INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n
- \nRevenue, net loss and adjusted EBITDAA <\/sup>of $147.3 million, $(10.4) million and $14.1 million, respectively, for the second quarter of 2025<\/p>\n<\/li>\n
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