Flotek Industries Reports Continued Growth in Revenue and Profitability, Fueled by 189% Growth in Data Analytics Revenue
Flotek Industries (NYSE:FTK) reported strong Q2 2025 financial results, with total revenue increasing 26% to $58.35 million compared to Q2 2024. The company's Data Analytics segment showed exceptional growth of 189%, now representing 10% of total revenues, while Chemistry Technologies revenue grew 19%. Gross profit surged 57% to $14.4 million, with margins expanding 500 basis points to 25%.
Q2 2025 adjusted EBITDA rose 113% to $9.5 million, marking the eleventh consecutive quarter of growth. While net income slightly decreased to $1.8 million ($0.05 per share), adjusted net income grew significantly to $6.0 million ($0.16 per share). The company maintains its 2025 guidance of $200-220 million in revenue and $34-39 million in adjusted EBITDA.
Flotek Industries (NYSE:FTK) ha riportato solidi risultati finanziari per il secondo trimestre 2025, con un fatturato totale in aumento del 26% a 58,35 milioni di dollari rispetto al secondo trimestre 2024. Il segmento Data Analytics dell'azienda ha mostrato una crescita eccezionale del 189%, rappresentando ora il 10% del fatturato totale, mentre i ricavi delle Chemistry Technologies sono cresciuti del 19%. Il profitto lordo è aumentato del 57% a 14,4 milioni di dollari, con un'espansione dei margini di 500 punti base, raggiungendo il 25%.
L'EBITDA rettificato del secondo trimestre 2025 è salito del 113% a 9,5 milioni di dollari, segnando l'undicesimo trimestre consecutivo di crescita. Sebbene l'utile netto sia leggermente diminuito a 1,8 milioni di dollari (0,05 dollari per azione), l'utile netto rettificato è cresciuto significativamente a 6,0 milioni di dollari (0,16 dollari per azione). L'azienda conferma le previsioni per il 2025 con ricavi tra 200 e 220 milioni di dollari e un EBITDA rettificato tra 34 e 39 milioni di dollari.
Flotek Industries (NYSE:FTK) reportó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos totales que aumentaron un 26% hasta 58,35 millones de dólares en comparación con el segundo trimestre de 2024. El segmento de Análisis de Datos de la compañía mostró un crecimiento excepcional del 189%, representando ahora el 10% de los ingresos totales, mientras que los ingresos de Tecnologías Químicas crecieron un 19%. La ganancia bruta aumentó un 57% hasta 14,4 millones de dólares, con un margen que se expandió 500 puntos básicos hasta el 25%.
El EBITDA ajustado del segundo trimestre de 2025 subió un 113% hasta 9,5 millones de dólares, marcando el undécimo trimestre consecutivo de crecimiento. Aunque la utilidad neta disminuyó ligeramente a 1,8 millones de dólares (0,05 dólares por acción), la utilidad neta ajustada creció significativamente a 6,0 millones de dólares (0,16 dólares por acción). La compañía mantiene su guía para 2025 con ingresos entre 200 y 220 millones de dólares y un EBITDA ajustado entre 34 y 39 millones de dólares.
Flotek Industries (NYSE:FTK)는 2025년 2분기 강력한 재무 실적을 보고했으며, 총 매출은 2024년 2분기 대비 26% 증가한 5,835만 달러를 기록했습니다. 회사의 데이터 분석 부문은 189%의 뛰어난 성장률을 보이며 전체 매출의 10%를 차지하게 되었고, 화학 기술 부문의 매출은 19% 증가했습니다. 총이익은 57% 증가한 1,440만 달러로, 마진은 500 베이시스 포인트 확장되어 25%를 기록했습니다.
2025년 2분기 조정 EBITDA는 113% 증가한 950만 달러로, 11분기 연속 성장세를 이어갔습니다. 순이익은 다소 감소하여 180만 달러(주당 0.05달러)를 기록했으나, 조정 순이익은 크게 증가하여 600만 달러(주당 0.16달러)를 기록했습니다. 회사는 2025년 매출 2억~2억 2천만 달러, 조정 EBITDA 3,400만~3,900만 달러의 가이던스를 유지하고 있습니다.
Flotek Industries (NYSE:FTK) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un chiffre d'affaires total en hausse de 26% à 58,35 millions de dollars par rapport au deuxième trimestre 2024. Le segment Data Analytics de l'entreprise a connu une croissance exceptionnelle de 189%, représentant désormais 10% du chiffre d'affaires total, tandis que les revenus des Technologies Chimiques ont augmenté de 19%. Le bénéfice brut a bondi de 57% à 14,4 millions de dollars, avec une marge en expansion de 500 points de base à 25%.
L'EBITDA ajusté du deuxième trimestre 2025 a progressé de 113% à 9,5 millions de dollars, marquant le onzième trimestre consécutif de croissance. Bien que le bénéfice net ait légèrement diminué à 1,8 million de dollars (0,05 dollar par action), le bénéfice net ajusté a fortement augmenté à 6,0 millions de dollars (0,16 dollar par action). La société maintient ses prévisions 2025 avec un chiffre d'affaires compris entre 200 et 220 millions de dollars et un EBITDA ajusté entre 34 et 39 millions de dollars.
Flotek Industries (NYSE:FTK) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einem Gesamtumsatzanstieg von 26% auf 58,35 Millionen US-Dollar im Vergleich zum zweiten Quartal 2024. Das Data Analytics Segment des Unternehmens verzeichnete ein außergewöhnliches Wachstum von 189% und macht nun 10% des Gesamtumsatzes aus, während die Umsätze im Bereich Chemistry Technologies um 19% zunahmen. Der Bruttogewinn stieg um 57% auf 14,4 Millionen US-Dollar, wobei die Gewinnmargen um 500 Basispunkte auf 25% erweitert wurden.
Das bereinigte EBITDA im zweiten Quartal 2025 stieg um 113% auf 9,5 Millionen US-Dollar und markierte das elfte Quartal in Folge mit Wachstum. Während der Nettogewinn leicht auf 1,8 Millionen US-Dollar (0,05 US-Dollar je Aktie) sank, wuchs der bereinigte Nettogewinn deutlich auf 6,0 Millionen US-Dollar (0,16 US-Dollar je Aktie). Das Unternehmen bestätigt seine Prognose für 2025 mit einem Umsatz von 200 bis 220 Millionen US-Dollar und einem bereinigten EBITDA von 34 bis 39 Millionen US-Dollar.
- Data Analytics segment revenue surged 189% year-over-year, with service revenues growing 452%
- Gross profit margin improved 500 basis points to 25% due to higher-margin service offerings
- Adjusted EBITDA increased 113% to $9.5 million, marking 11 consecutive quarters of growth
- Chemistry Technologies external revenues grew 38%, indicating strong market share gains
- PWRtek acquisition expected to deliver $15 million in high-margin rental revenue in 2025, 7% above initial estimates
- SG&A expenses decreased as a percentage of revenue from 14% to 12%
- Net income decreased 10% to $1.8 million compared to Q2 2024
- Diluted earnings per share declined 17% to $0.05 from $0.06 year-over-year
- Transaction expenses related to Asset Acquisition totaled $4.2 million in Q2 2025
Insights
Flotek's strong Q2 results show transformative growth in high-margin Data Analytics driving profitability despite some concerning signals in core metrics.
Flotek's Q2 2025 results demonstrate a company successfully executing its strategic transformation. Total revenue increased
The acquisition of mobile gas conditioning assets (PWRtek) is proving strategically sound, contributing
While headline numbers are strong, there are concerning signals in the underlying metrics. Net income actually decreased
The Chemistry Technologies segment shows a bifurcated performance - external revenues grew an impressive
Operational efficiency is improving, with SG&A as a percentage of revenue declining from
The maintained 2025 guidance (
The eleven consecutive quarters of Adjusted EBITDA improvement demonstrates consistent execution of the company's strategic transformation from a pure chemistry provider to a more diversified energy services company with higher-margin data analytics capabilities.
Financial Summary (in thousands, except 'per share' amounts)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||
2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||
Total Revenues | $ 58,350 | $ 46,152 | 26 % | $ 113,712 | $ 86,526 | 31 % | |||||
Gross Profit | $ 14,407 | $ 9,170 | 57 % | $ 26,856 | $ 17,991 | 49 % | |||||
Net Income | $ 1,768 | $ 1,974 | (10) % | $ 7,148 | $ 3,536 | 102 % | |||||
Diluted Income Per Share | $ 0.05 | $ 0.06 | (17) % | $ 0.21 | $ 0.12 | 75 % | |||||
Adjusted Net Income (1) | $ 5,963 | $ 1,974 | 202 % | $ 11,343 | $ 3,536 | 221 % | |||||
Adjusted Diluted Income Per Share(1) | $ 0.16 | $ 0.06 | 167 % | $ 0.33 | $ 0.12 | 175 % | |||||
Adjusted EBITDA (1) | $ 9,452 | $ 4,439 | 113 % | $ 17,232 | $ 8,464 | 104 % | |||||
Second Quarter 2025 Highlights:
(all comparisons versus Q2 2024 unless noted)
26% growth in total revenue driven by Chemistry Technologies and the impact from our recent Data Analytics acquisition (the "Asset Acquisition") of mobile gas conditioning assets (the "Acquired Assets").- Data Analytics revenues grew to
10% of total revenues from4% in second quarter 2024, driving a 500 basis point improvement in gross profit margin due to higher-margin service offerings. - Net income totaled
$1.8 million $0.05 $2.0 million $0.06 $6.0 million $0.16 - Adjusted EBITDA (1) increased by
113% to$9.5 million $4.4 million
Management Commentary
Chief Executive Officer Dr. Ryan Ezell commented, "Flotek delivered another quarter of exceptional financial performance as we continue to execute our corporate strategy and transform the organization for the future. Our Data Analytics segment is seeing robust growth, fueled by the rising adoption of our advanced analytics solutions and our recent expansion into the power generation market, which is exceeding expectations. The Chemistry Technologies segment continues to gain market share with strong demand for our innovative chemical solutions that drive improved reservoir performance. Revenues through the first half of 2025 were
Segment Revenue Summary (in thousands)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||
2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||
Chemistry Technologies: | |||||||||||
External Revenues | $ 22,542 | $ 16,361 | 38 % | $ 28,047 | 59 % | ||||||
Related Party Revenues | 29,878 | 27,741 | 8 % | 60,607 | 54,755 | 11 % | |||||
Total | $ 52,420 | $ 44,102 | 19 % | $ 105,158 | $ 82,802 | 27 % | |||||
Data Analytics: | |||||||||||
Product Revenues | $ 1,820 | $ 1,306 | 39 % | $ 3,482 | $ 2,238 | 56 % | |||||
Service Revenues (2) | 4,110 | 744 | 452 % | 5,072 | 1,486 | 241 % | |||||
Total | $ 5,930 | $ 2,050 | 189 % | $ 8,554 | $ 3,724 | 130 % | |||||
Revenues:
- Chemistry Technologies: The segment's
19% revenue growth as compared to the year-ago quarter, was driven by a38% increase in external customer chemistry revenues. This growth reflects Flotek's ability to capture market share despite a decline in North American frac fleets, indicating strong demand for our specialized chemistry solutions. Related party revenues grew8% as compared to second quarter 2024, contributing to stable and diversified revenue streams. - Data Analytics: The segment achieved a
189% revenue increase as compared to the year-ago quarter, with service revenues growing more than450% to$4.1 million $3.2 million
Gross Profit: The Company generated gross profit of
Selling, General and Administrative ("SG&A") Expense: SG&A expense totaled
Net Income, Adjusted Net Income (1) (Non-GAAP): In the second quarter of 2025, Flotek reported net income of
Basic and diluted shares outstanding for the quarter and six months ended June 30, 2025 included the weighted average impact of the warrant issued to ProFrac GDM, LLC to purchase 6 million shares of the Company's common stock in connection with the long-term lease of the Acquired Assets.
Adjusted EBITDA(1) (Non-GAAP): Adjusted EBITDA(1) was
PWRtekTM Update: The Asset Acquisition commissioning and contracted revenue generation is on track to exceed our initially reported expectations. The Company currently expects the Acquired Assets to deliver approximately
2025 Guidance: In connection with second quarter 2025 results, the Company is maintaining its previously issued guidance metrics as follows:
- Total Revenue between
$200 million $220 million - Adjusted EBITDA (3) between
$34 million $39 million
(1) | Represents a non-GAAP measure, see the "Unaudited Reconciliation of Net Income to Adjusted Net Income" and the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" tables in this release for more information about this measure, including reconciliations to the most comparable GAAP measures. |
(2) | Service revenues during the three- and six-month 2025 periods include |
(3) | A non-GAAP financial measure. See the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" section in this release for more information about this measure. We are unable to reconcile this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would be expected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs, interest costs related to fluctuations in borrowings outstanding under the Company's asset based loan and the impact of the revaluation of certain liabilities, which is based upon our future stock price. These items do not impact the non-GAAP financial measure. |
Conference Call Details
The Company plans to host its earnings conference call on Wednesday, August 6, 2025, at 9:00 a.m. CDT (10:00 a.m. EDT). Participants may access the call through Flotek's website at https://ir.flotekind.com under the "News & Events" section, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the audience view of the webcast at https://app.webinar.net/NLao0z9kmlg approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company's website.
About Flotek Industries, Inc.
Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company's top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, over 20 years of field and laboratory data, and a global presence in more than 59 countries.
Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.
Flotek is based in
Forward-Looking Statements
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data)
| |||
June 30, 2025 | December 31, 2024 | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 5,028 | $ 4,404 | |
Restricted cash | 103 | 102 | |
Accounts receivable, net of allowance for credit losses of | 22,221 | 17,386 | |
Accounts receivable, related party, net of allowance for credit losses of | 37,350 | 52,370 | |
Inventories, net | 12,302 | 13,303 | |
Other current assets | 3,084 | 2,952 | |
Current contract asset | 6,743 | 5,939 | |
Total current assets | 86,831 | 96,456 | |
Long-term contract asset | 59,386 | 63,105 | |
Property and equipment, net | 21,223 | 6,178 | |
Right-of-use assets | 3,174 | 3,326 | |
Deferred tax assets, net | 35 | 51 | |
Other long-term assets | 1,594 | 1,680 | |
TOTAL ASSETS | $ 172,243 | $ 170,796 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 36,350 | $ 38,073 | |
Accrued liabilities | 3,905 | 5,912 | |
Accrued liabilities, related party | 7,248 | — | |
Income taxes payable | 85 | 48 | |
Interest payable, related party | 701 | — | |
Current portion of operating lease liabilities | 1,186 | 1,486 | |
Current portion of finance lease liabilities | 146 | — | |
Asset-based loan | 5,055 | 4,789 | |
Current portion of long-term debt | — | 60 | |
Total current liabilities | 54,676 | 50,368 | |
Deferred revenue, long-term | — | 14 | |
Note payable - related party | 39,536 | — | |
Long-term operating lease liabilities | 5,879 | 6,514 | |
Long-term finance lease liabilities | 302 | — | |
TOTAL LIABILITIES | 100,393 | 56,896 | |
Commitments and contingencies | |||
Stockholders' equity: | |||
Preferred stock, | — | — | |
Common stock, | 3 | 3 | |
Additional paid-in capital | 415,637 | 464,620 | |
Accumulated other comprehensive income | 96 | 251 | |
Accumulated deficit | (309,160) | (316,308) | |
Treasury stock, at cost; 1,114,387 and 1,111,565 shares at June 30, 2025 | (34,726) | (34,666) | |
Total stockholders' equity | 71,850 | 113,900 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 172,243 | $ 170,796 | |
FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)
| |||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Revenue: | |||||||
Revenue from external customers | $ 25,182 | $ 18,191 | $ 49,605 | $ 31,371 | |||
Revenue from related party | 33,168 | 27,961 | 64,107 | 55,155 | |||
Total revenues | 58,350 | 46,152 | 113,712 | 86,526 | |||
Cost of goods sold | 43,943 | 36,982 | 86,856 | 68,535 | |||
Gross profit | 14,407 | 9,170 | 26,856 | 17,991 | |||
Operating costs and expenses: | |||||||
Selling, general, and administrative | 6,796 | 6,279 | 13,078 | 12,365 | |||
Asset acquisition expenses | 4,195 | — | 4,195 | — | |||
Depreciation | 374 | 222 | 626 | 442 | |||
Research and development | 455 | 481 | 810 | 888 | |||
Gain on sale of property and equipment | — | (34) | (7) | (34) | |||
Total operating costs and expenses | 11,820 | 6,948 | 18,702 | 13,661 | |||
Income from operations | 2,587 | 2,222 | 8,154 | 4,330 | |||
Other income (expense): | |||||||
Interest expense | (983) | (308) | (1,212) | (586) | |||
Other income (expense), net | 181 | 75 | 287 | 49 | |||
Total other expense | (802) | (233) | (925) | (537) | |||
Income before income taxes | 1,785 | 1,989 | 7,229 | 3,793 | |||
Income tax expense | (17) | (15) | (81) | (257) | |||
Net income | $ 1,768 | $ 1,974 | $ 7,148 | $ 3,536 | |||
Income per common share: | |||||||
Basic | $ 0.05 | $ 0.07 | $ 0.22 | $ 0.12 | |||
Diluted | $ 0.05 | $ 0.06 | $ 0.21 | $ 0.12 | |||
Weighted average common shares: | |||||||
Weighted average common shares used in computing basic income per common share | 33,947 | 29,449 | 31,827 | 29,440 | |||
Weighted average common shares used in computing diluted income per common share | 36,231 | 30,668 | 34,026 | 30,512 | |||
FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)
| |||
Six months ended June 30, | |||
2025 | 2024 | ||
Cash flows from operating activities: | |||
Net income | $ 7,148 | $ 3,536 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Change in fair value of contingent consideration | (127) | (27) | |
Amortization of contract assets | 2,916 | 2,749 | |
Depreciation | 626 | 442 | |
Amortization of deferred financing costs | 157 | 170 | |
Provision for credit losses, net of recoveries | 261 | 79 | |
Provision for excess and obsolete inventory | 250 | 433 | |
Gain on sale of property and equipment | (7) | (34) | |
Non-cash lease expense | 624 | 1,236 | |
Stock compensation expense | 1,137 | 642 | |
Deferred income tax expense | 16 | 216 | |
Changes in current assets and liabilities: | |||
Accounts receivable | (5,096) | 292 | |
Accounts receivable, related party | (2,532) | (5,480) | |
Inventories | 1,448 | 192 | |
Income tax receivable | (32) | — | |
Other assets | (155) | 688 | |
Accounts payable | (1,722) | 50 | |
Accrued liabilities | (1,893) | (2,837) | |
Operating lease liabilities | (935) | (1,510) | |
Income taxes payable | 37 | (10) | |
Interest payable, related party | 701 | — | |
Net cash provided by operating activities | 2,822 | 827 | |
Cash flows from investing activities: | |||
Capital expenditures | (1,309) | (229) | |
Proceeds from sale of assets | 7 | 34 | |
Net cash used in investing activities | (1,302) | (195) | |
Cash flows from financing activities: | |||
Payments on long term debt | (60) | (90) | |
Proceeds from asset-based loan | 106,950 | 83,300 | |
Payments on asset-based loan | (106,685) | (84,994) | |
Payment of note payable issuance costs | (480) | — | |
Payment of issuance costs of stock warrants | (456) | — | |
Payments to tax authorities for shares withheld from employees | (60) | (24) | |
Proceeds from issuance of stock under Employee Stock Purchase Plan | 68 | 62 | |
Proceeds from issuance of stock from stock option exercises | 8 | — | |
Payments for finance leases | (25) | (19) | |
Net cash used in financing activities | (740) | (1,765) | |
Effect of changes in exchange rates on cash and cash equivalents | (155) | 58 | |
Net change in cash and cash equivalents and restricted cash | 625 | (1,075) | |
Cash and cash equivalents at the beginning of period | 4,404 | 5,851 | |
Restricted cash at the beginning of period | 102 | 102 | |
Cash and cash equivalents and restricted cash at beginning of period | 4,506 | 5,953 | |
Cash and cash equivalents at end of period | 5,028 | 4,777 | |
Restricted cash at the end of period | 103 | 101 | |
Cash and cash equivalents and restricted cash at end of period | $ 5,131 | $ 4,878 | |
FLOTEK INDUSTRIES, INC. UNAUDITED RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME (in thousands, except per share amounts)
| ||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||
2025 | 2024 | 2025 | 2024 | |||||
Net Income | $ 1,768 | $ 1,974 | $ 7,148 | $ 3,536 | ||||
Adjustments: | ||||||||
Asset acquisition expenses | 4,195 | — | 4,195 | — | ||||
Adjusted Net Income (Non-GAAP)(1) | $ 5,963 | $ 1,974 | $ 11,343 | $ 3,536 | ||||
Diluted weighted-average common shares outstanding | 36,231 | 30,668 | 34,026 | 30,512 | ||||
Net income per diluted share | $ 0.05 | $ 0.06 | $ 0.21 | $ 0.12 | ||||
Adjusted net income per diluted share | $ 0.16 | $ 0.06 | $ 0.33 | $ 0.12 | ||||
(1) | Management believes that adjusted net income for the three and six months ended June 30, 2025 and 2024 is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the expenses related to the Asset Acquisition noted above to be outside of the Company's normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial and operational goals, excluding certain non-recurring items. |
FLOTEK INDUSTRIES, INC. UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS (in thousands)
| |||||||||
Three Months Ended | Six Months Ended | Twelve December 31, | |||||||
2025 | 2024 | 2025 | 2024 | 2024 | |||||
Net income | $ 1,768 | $ 1,974 | $ 7,148 | $ 3,536 | $ 10,498 | ||||
Interest expense | 983 | 308 | 1,212 | 586 | 1,095 | ||||
Income tax expense | 17 | 15 | 81 | 257 | 649 | ||||
Depreciation and amortization | 374 | 222 | 626 | 442 | 891 | ||||
EBITDA (Non-GAAP) (1) | $ 3,142 | $ 2,519 | $ 9,067 | $ 4,821 | $ 13,133 | ||||
Stock compensation expense | 676 | 331 | 1,137 | 643 | 1,366 | ||||
Severance and retirement | 7 | 20 | 51 | 32 | 39 | ||||
Contingent liability revaluation | (2) | — | (127) | (27) | 71 | ||||
Gain on disposal of asset | — | (34) | (7) | (34) | (124) | ||||
Amortization of contract asset | 1,434 | 1,482 | 2,916 | 2,749 | 5,612 | ||||
Non-Recurring professional fees (2) | 4,195 | 121 | 4,195 | 280 | 230 | ||||
Adjusted EBITDA (Non-GAAP) (1) | $ 9,452 | $ 4,439 | $ 17,232 | $ 8,464 | $ 20,327 | ||||
(1) | Management believes that EBITDA and adjusted EBITDA for the three and six months ended June 30, 2025 and 2024, and for the twelve months ended December 31, 2024 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the income and expenses noted above to be outside of the Company's normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial and operational goals, excluding certain non-cash or non-recurring items. |
(2) | Includes |
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SOURCE Flotek Industries, Inc.
FAQ
What was Flotek's (FTK) revenue growth in Q2 2025?
How much did Flotek's (FTK) Data Analytics segment grow in Q2 2025?
What is Flotek's (FTK) earnings guidance for 2025?
How much did Flotek's (FTK) adjusted EBITDA grow in Q2 2025?
What was Flotek's (FTK) gross profit margin in Q2 2025?
How is Flotek's (FTK) PWRtek acquisition performing?
