Flotek Reports 95% Gross Profit Growth in Third Quarter
Flotek (NYSE: FTK) reported strong Q3 2025 results: total revenue $56.0M (+13% YoY), gross profit $17.8M (+95% YoY) and gross margin 32% vs 18% a year ago. Net income was $20.4M ($0.53 diluted), which included a $12.6M tax benefit. Adjusted EBITDA rose to $11.7M (+142%), the twelfth consecutive quarter of improvement. Data Analytics revenue grew 232% with a 71% segment gross margin; acquired PWRtek assets generated $6.1M in Q3 with ~89% gross margin and expected 2025 PWRtek revenue of $16.1M. Company raised 2025 guidance to $220–225M revenue and $35–40M adjusted EBITDA.
Flotek (NYSE: FTK) ha riportato solidi risultati nel terzo trimestre 2025: ricavi totali di 56,0 milioni di dollari (+13% su base annua), utile lordo di 17,8 milioni di dollari (+95% su base annua) e margine lordo del 32% rispetto al 18% dell'anno precedente. L'utile netto è stato di 20,4 milioni di dollari (2,53 dollari diluiti), che includeva un beneficio fiscale di 12,6 milioni di dollari. L'EBITDA rettificato è aumentato a 11,7 milioni di dollari (+142%), il dodicesimo trimestre consecutivo di miglioramento. Le entrate della Data Analytics sono cresciute del 232% con un margine lordo di segmento del 71%; gli asset PWRtek acquisiti hanno generato 6,1 milioni di dollari nel terzo trimestre con circa 89% di margine lordo e previsto un ricavo 2025 di PWRtek di 16,1 milioni di dollari. L'azienda ha rivisto al rialzo le previsioni per il 2025 a ricavi di 220–225 milioni di dollari e EBITDA rettificato di 35–40 milioni di dollari.
Flotek (NYSE: FTK) reportó sólidos resultados del tercer trimestre de 2025: ingresos totales de 56,0 millones de dólares (+13% interanual), beneficio bruto de 17,8 millones de dólares (+95% interanual) y margen bruto del 32% frente al 18% del año anterior. El ingreso neto fue de 20,4 millones de dólares (0,53 dólares diluidos por acción), que incluyó un beneficio fiscal de 12,6 millones de dólares. El EBITDA ajustado aumentó a 11,7 millones de dólares (+142%), el duodécimo trimestre consecutivo de mejora. Los ingresos de Data Analytics crecieron un 232% con un margen bruto de segmento del 71%; los activos de PWRtek adquiridos generaron 6,1 millones de dólares en el Q3 con ~89% de margen bruto y se espera que los ingresos de PWRtek en 2025 sean 16,1 millones de dólares. La compañía elevó la guía para 2025 a ingresos de 220–225 millones de dólares y EBITDA ajustado de 35–40 millones de dólares.
Flotek (NYSE: FTK)는 2025년 3분기 실적이 강세를 보였습니다: 총매출 5,600만 달러 (+전년동기대비 13%), 총이익 1,780만 달러 (+전년동기대비 95%), 그리고 총마진 32% 대 1년 전의 18%. 순이익은 2,040만 달러으로(주당 희석 0.53달러) 세금 혜택 1,260만 달러를 포함합니다. 조정 EBITDA는 1,170만 달러로 상승(+142%), 12개 분기 연속 개선. Data Analytics 매출은 232% 증가했고 부문 매출총이익률은 71%; 인수된 PWRtek 자산은 3분기에 610만 달러를 창출했고 약 89%의 매출총이익률, 2025년 PWRtek 매출은 1,610만 달러로 예상됩니다. 회사는 2025년 가이던스를 매출 220–225백만 달러와 조정 EBITDA 35–40백만 달러로 상향했습니다.
Flotek (NYSE: FTK) a affiché des résultats solides pour le T3 2025: chiffre d'affaires total de 56,0 M$ (+13% en glissement annuel), bénéfice brut de 17,8 M$ (+95% en glissement annuel) et marge brute de 32% contre 18% il y a un an. Le résultat net s'élève à 20,4 M$ (0,53 $ dilué), ce qui inclut un avantage fiscal de 12,6 M$. L'EBITDA ajusté s'est élevé à 11,7 M$ (+142%), soit le douzième trimestre consécutif de progrès. Le chiffre d'affaires de Data Analytics a progressé de 232% avec une marge brute de segment de 71% ; les actifs PWRtek acquis ont généré 6,1 M$ au T3 avec ~89% de marge brute et les revenus PWRtek prévus pour 2025 s'élèvent à 16,1 M$. L'entreprise a relevé son objectif pour 2025 à un chiffre d'affaires de 220–225 M$ et un EBITDA ajusté de 35–40 M$.
Flotek (NYSE: FTK) meldete starke Ergebnisse im Q3 2025: Umsatz insgesamt 56,0 Mio. USD (+13% YoY), Bruttogewinn 17,8 Mio. USD (+95% YoY) und Bruttomarge 32% gegenüber 18% vor einem Jahr. Der Nettogewinn betrug 20,4 Mio. USD (0,53 USD verwässert), inklusive eines Steuervorteils von 12,6 Mio. USD. Der bereinigte EBITDA stieg auf 11,7 Mio. USD (+142%), das zwölfte Quartal in Folge mit Verbesserung. Der Umsatz von Data Analytics wuchs um 232% bei einer Segmentbruttomarge von 71%; die erworbenen PWRtek-Vermögenswerte erzielten im Q3 6,1 Mio. USD mit ca. 89% Bruttomarge, und der erwartete Umsatz von PWRtek für 2025 liegt bei 16,1 Mio. USD. Das Unternehmen hob die Prognose für 2025 auf Umsatz 220–225 Mio. USD und bereinigtes EBITDA 35–40 Mio. USD an.
فلوتيك (بورصة نيويورك: FTK) أبلغت عن نتائج قوية في الربع الثالث من 2025: إجمالي الإيرادات 56.0 مليون دولار (+13% على أساس سنوي)، الربح الإجمالي 17.8 مليون دولار (+95% على أساس سنوي) وهامش الربح الإجمالي 32% مقابل 18% قبل عام. صافي الدخل كان 20.4 مليون دولار (0.53 دولار مخففًا)، والذي تضمن ميزة ضريبية قدرها 12.6 مليون دولار. ارتفع EBITDA المعدل إلى 11.7 مليون دولار (+142%), وهو الربع الثاني عشر على التوالي من التحسن. ارتفعت إيرادات Data Analytics بمقدار 232% مع هامش إجمالي للقطاع يبلغ 71%; أصول PWRtek المكتسبة حققت 6.1 مليون دولار في الربع الثالث وبهوامش إجمالي يقارب 89% ومن المتوقع أن تبلغ إيرادات PWRtek لعام 2025 16.1 مليون دولار. رفعت الشركة التوجيه لعام 2025 إلى إيرادات 220–225 مليون دولار و EBITDA المعدل 35–40 مليون دولار.
- Gross profit +95% to $17.8M in Q3 2025
- Net income $20.4M, diluted EPS $0.53
- Adjusted EBITDA +142% to $11.7M; 12th consecutive quarter of improvement
- Data Analytics revenue +232%; segment margin 71%
- PWRtek Q3 revenue $6.1M with ~89% gross margin; 2025 PWRtek guidance $16.1M
- Related party chemistry revenues down 18% in Q3 2025, reducing internal volume
- SG&A rose to $7.4M (13% of revenue) driven by higher professional fees and stock compensation
- Q3 net income included a non-cash $12.6M valuation allowance release, partially inflating current-quarter profit
- North American frac fleet count declined 25% year-over-year, a sector headwind
Insights
Strong quarter: high-margin Data Analytics growth and a tax benefit drove substantial profit and raised 2025 guidance.
Flotek delivered large sequential gains:
The results depend on a few discrete items: a
Watch for confirmation of sustained Data Analytics margins and PWRtek run-rate versus the company’s expectation of ~
Financial Summary (in thousands, except 'per share' amounts)
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||
|
|
2025 |
|
2024 |
|
% Change |
|
2025 |
|
2024 |
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenues |
$ 56,031 |
|
$ 49,742 |
|
13 % |
|
$ 169,743 |
|
$ 136,267 |
|
25 % |
|
Gross Profit |
$ 17,783 |
|
$ 9,119 |
|
95 % |
|
$ 44,639 |
|
$ 27,108 |
|
65 % |
|
Net Income |
$ 20,355 |
|
$ 2,532 |
|
704 % |
|
$ 27,503 |
|
$ 6,068 |
|
353 % |
|
Diluted Income Per Share |
$ 0.53 |
|
$ 0.08 |
|
563 % |
|
$ 0.78 |
|
$ 0.20 |
|
290 % |
|
Adjusted EBITDA (1) |
$ 11,721 |
|
$ 4,840 |
|
142 % |
|
$ 28,953 |
|
$ 13,303 |
|
118 % |
Highlights:
(all comparisons versus Q3 2024 unless noted)
- Total revenues increased
13% driven largely by the Data Analytics segment, as the mobile gas conditioning assets acquired in the second quarter of 2025 (the "Acquired Assets") generated$6.1 million - Data Analytics segment revenues grew to
16% of total revenues, up from5% in third quarter 2024, helping to deliver total Company gross profit margin of32% , as compared to18% in the year-ago quarter. - Data Analytics segment gross profit margin totaled
71% during the third quarter of 2025 as compared to44% during the year-ago quarter. - Net income totaled
$20.4 million $0.53 $2.5 million $0.08 $12.6 million - Adjusted EBITDA(1) increased by
142% to$11.7 million $4.8 million - On October 29, 2025 Flotek announced that the XSPCTTM analyzer was the first optical spectrometer to comply with GPA 2172 (O&G Custody Transfer Standard)
2025 Guidance Update: Based on strong year-to-date operational performance and the outlook for the fourth quarter, the Company is increasing its 2025 guidance ranges as follows ($MMs):
|
|
Previous Guidance |
Revised Guidance |
|
Total Revenues |
|
|
|
Adjusted EBITDA (2) |
|
|
Management Commentary
Chief Executive Officer Dr. Ryan Ezell commented, "Flotek delivered an outstanding third quarter, highlighted by reporting total Company gross profit margin of
Segment Revenue Summary (in thousands)
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||
|
|
2025 |
|
2024 |
|
% Change |
|
2025 |
|
2024 |
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemistry Technologies: |
|
|
|
|
|
|
|
|
|
|
|
|
External Revenues |
$ 20,221 |
|
$ 14,097 |
|
43 % |
|
|
|
$ 42,143 |
|
54 % |
|
Related Party Revenues |
26,956 |
|
32,977 |
|
(18) % |
|
87,562 |
|
87,732 |
|
— % |
|
Total |
$ 47,177 |
|
$ 47,074 |
|
— % |
|
$ 152,335 |
|
$ 129,875 |
|
17 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Data Analytics: |
|
|
|
|
|
|
|
|
|
|
|
|
Product Revenues |
$ 1,694 |
|
$ 1,681 |
|
1 % |
|
$ 5,176 |
|
$ 3,920 |
|
32 % |
|
Service Revenues (3) |
7,160 |
|
987 |
|
625 % |
|
12,232 |
|
2,472 |
|
395 % |
|
Total |
$ 8,854 |
|
$ 2,668 |
|
232 % |
|
|
|
$ 6,392 |
|
172 % |
Revenues:
-
Chemistry Technologies: The segment grew external revenue
43% as compared to the year-ago quarter. This growth reflects Flotek's ability to continue to capture market share despite a25% year-over-year decline in North American frac fleets(4), indicating strong demand for our specialized chemistry solutions. However, related party chemistry purchases were impacted negatively by reduced fleet count utilization. -
Data Analytics: The segment achieved a
232% revenue increase as compared to the year-ago quarter, with service revenues growing625% to$7.2 million $6.1 million
Gross Profit: The Company generated gross profit of
Selling, General and Administrative ("SG&A") Expense: SG&A expense totaled
Net Income: In the third quarter of 2025, Flotek reported net income of
Adjusted EBITDA(1) (Non-GAAP): Adjusted EBITDA(1) was
PWRtekTM Update: During the third quarter of 2025, revenues attributable to the Acquired Assets totaled
|
(1) |
Represents a non-GAAP measure, see the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" table in this release for more information about this measure, including reconciliations to the most comparable GAAP measures. |
|
|
|
|
(2) |
A non-GAAP financial measure. See the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" table 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. |
|
|
|
|
(3) |
Service revenues during the three- and nine-month 2025 periods include |
|
|
|
|
(4) |
Comparison according to Primary Vision Active |
Conference Call Details
The Company plans to host its earnings conference call on Wednesday, November 5, 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 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.
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FLOTEK INDUSTRIES, INC. |
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|
|
September 30, 2025 |
|
December 31, 2024 |
|
ASSETS |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
$ 4,603 |
|
$ 4,404 |
|
Restricted cash |
103 |
|
102 |
|
Accounts receivable, net of allowance for credit losses of |
26,767 |
|
17,386 |
|
Accounts receivable, related party, net of allowance for credit losses of |
44,831 |
|
52,370 |
|
Inventories, net |
13,232 |
|
13,303 |
|
Other current assets |
2,305 |
|
2,952 |
|
Current contract asset |
8,179 |
|
5,939 |
|
Total current assets |
100,020 |
|
96,456 |
|
Long-term contract asset |
56,655 |
|
63,105 |
|
Property and equipment, net |
20,822 |
|
6,178 |
|
Right-of-use assets |
3,266 |
|
3,326 |
|
Deferred tax assets, net |
30,351 |
|
51 |
|
Other long-term assets |
1,573 |
|
1,680 |
|
TOTAL ASSETS |
$ 212,687 |
|
$ 170,796 |
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable |
$ 35,073 |
|
$ 38,073 |
|
Accrued liabilities |
4,925 |
|
5,912 |
|
Accrued liabilities, related party |
7,248 |
|
— |
|
Income taxes payable |
197 |
|
48 |
|
Interest payable, related party |
1,008 |
|
— |
|
Current portion of operating lease liabilities |
1,216 |
|
1,486 |
|
Current portion of finance lease liabilities |
149 |
|
— |
|
Asset-based loan |
6,662 |
|
4,789 |
|
Current portion of long-term debt |
— |
|
60 |
|
Total current liabilities |
56,478 |
|
50,368 |
|
Deferred revenue, long-term |
— |
|
14 |
|
Note payable - related party |
39,560 |
|
— |
|
Long-term operating lease liabilities |
5,887 |
|
6,514 |
|
Long-term finance lease liabilities |
264 |
|
— |
|
TOTAL LIABILITIES |
102,189 |
|
56,896 |
|
Commitments and contingencies |
|
|
|
|
Stockholders' equity: |
|
|
|
|
Preferred stock, |
— |
|
— |
|
Common stock, |
3 |
|
3 |
|
Additional paid-in capital |
433,939 |
|
464,620 |
|
Accumulated other comprehensive income |
109 |
|
251 |
|
Accumulated deficit |
(288,805) |
|
(316,308) |
|
Treasury stock, at cost; 1,112,584 and 1,111,565 shares at September 30, |
(34,748) |
|
(34,666) |
|
Total stockholders' equity |
110,498 |
|
113,900 |
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 212,687 |
|
$ 170,796 |
|
FLOTEK INDUSTRIES, INC. |
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|
|
Three Months Ended |
|
Nine Months Ended |
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|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Revenue: |
|
|
|
|
|
|
|
|
Revenue from external customers |
$ 22,941 |
|
$ 16,565 |
|
$ 72,546 |
|
$ 47,935 |
|
Revenue from related party |
33,090 |
|
33,177 |
|
97,197 |
|
88,332 |
|
Total revenues |
56,031 |
|
49,742 |
|
169,743 |
|
136,267 |
|
Cost of goods sold |
38,248 |
|
40,623 |
|
125,104 |
|
109,159 |
|
Gross profit |
17,783 |
|
9,119 |
|
44,639 |
|
27,108 |
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
Selling, general, and administrative |
7,384 |
|
5,714 |
|
20,462 |
|
18,079 |
|
Asset acquisition expenses |
167 |
|
— |
|
4,362 |
|
— |
|
Depreciation |
581 |
|
220 |
|
1,207 |
|
662 |
|
Research and development |
549 |
|
462 |
|
1,359 |
|
1,349 |
|
Gain on sale of property and equipment |
— |
|
— |
|
(7) |
|
(34) |
|
Total operating costs and expenses |
8,681 |
|
6,396 |
|
27,383 |
|
20,056 |
|
Income from operations |
9,102 |
|
2,723 |
|
17,256 |
|
7,052 |
|
Other income (expense): |
|
|
|
|
|
|
|
|
Interest expense |
(1,351) |
|
(256) |
|
(2,563) |
|
(842) |
|
Other income (expense), net |
(8) |
|
102 |
|
279 |
|
151 |
|
Total other expense |
(1,359) |
|
(154) |
|
(2,284) |
|
(691) |
|
Income before income taxes |
7,743 |
|
2,569 |
|
14,972 |
|
6,361 |
|
Income tax benefit (expense) |
12,612 |
|
(37) |
|
12,531 |
|
(293) |
|
Net income |
$ 20,355 |
|
$ 2,532 |
|
$ 27,503 |
|
$ 6,068 |
|
|
|
|
|
|
|
|
|
|
Income per common share: |
|
|
|
|
|
|
|
|
Basic |
$ 0.57 |
|
$ 0.09 |
|
$ 0.83 |
|
$ 0.21 |
|
Diluted |
$ 0.53 |
|
$ 0.08 |
|
$ 0.78 |
|
$ 0.20 |
|
|
|
|
|
|
|
|
|
|
Weighted average common shares: |
|
|
|
|
|
|
|
|
Weighted average common shares used in |
35,868 |
|
29,613 |
|
33,189 |
|
29,498 |
|
Weighted average common shares used in |
38,137 |
|
30,897 |
|
35,420 |
|
30,655 |
|
FLOTEK INDUSTRIES, INC. |
|||
|
|
Nine Months Ended September 30, |
||
|
|
2025 |
|
2024 |
|
Cash flows from operating activities: |
|
|
|
|
Net income |
$ 27,503 |
|
$ 6,068 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
Change in fair value of contingent consideration |
(127) |
|
(46) |
|
Amortization of contract assets |
4,210 |
|
4,341 |
|
Depreciation |
1,207 |
|
662 |
|
Amortization of deferred financing costs |
252 |
|
243 |
|
Provision for credit losses, net of recoveries |
555 |
|
121 |
|
Provision for excess and obsolete inventory |
307 |
|
626 |
|
Gain on sale of property and equipment |
(7) |
|
(34) |
|
Non-cash lease expense |
840 |
|
1,661 |
|
Stock compensation expense |
1,706 |
|
915 |
|
Deferred income tax (benefit) expense |
(12,773) |
|
233 |
|
Changes in current assets and liabilities: |
|
|
|
|
Accounts receivable |
(9,936) |
|
1,346 |
|
Accounts receivable, related party |
(10,013) |
|
(12,495) |
|
Inventories |
462 |
|
(532) |
|
Income tax receivable |
(32) |
|
— |
|
Other assets |
724 |
|
849 |
|
Accounts payable |
(3,000) |
|
5,690 |
|
Accrued liabilities |
(874) |
|
(1,730) |
|
Operating lease liabilities |
(1,204) |
|
(2,002) |
|
Income taxes payable |
149 |
|
9 |
|
Interest payable, related party |
1,008 |
|
— |
|
Net cash provided by operating activities |
957 |
|
5,925 |
|
Cash flows from investing activities: |
|
|
|
|
Capital expenditures |
(1,697) |
|
(491) |
|
Proceeds from sale of assets |
7 |
|
34 |
|
Net cash used in investing activities |
(1,690) |
|
(457) |
|
Cash flows from financing activities: |
|
|
|
|
Payments on long term debt |
(60) |
|
(135) |
|
Proceeds from asset-based loan |
147,000 |
|
122,600 |
|
Payments on asset-based loan |
(145,127) |
|
(128,666) |
|
Payment of asset-based loan origination costs |
(150) |
|
(164) |
|
Payment of note payable issuance costs |
(480) |
|
— |
|
Payment of issuance costs of stock warrants |
(653) |
|
— |
|
Payments to tax authorities for shares withheld from employees |
(82) |
|
(30) |
|
Proceeds from issuance of stock under Employee Stock Purchase Plan |
113 |
|
88 |
|
Proceeds from issuance of stock from stock option exercises |
574 |
|
— |
|
Payments for finance leases |
(60) |
|
(22) |
|
Net cash provided by (used in) financing activities |
1,075 |
|
(6,329) |
|
Effect of changes in exchange rates on cash and cash equivalents |
(142) |
|
6 |
|
Net change in cash and cash equivalents and restricted cash |
200 |
|
(855) |
|
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 |
4,603 |
|
4,997 |
|
Restricted cash at the end of period |
103 |
|
101 |
|
Cash and cash equivalents and restricted cash at end of period |
$ 4,706 |
|
$ 5,098 |
|
FLOTEK INDUSTRIES, INC. |
|||||||||
|
|
Three Months Ended |
|
Nine Months Ended |
|
Twelve |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ 20,355 |
|
$ 2,532 |
|
$ 27,503 |
|
$ 6,068 |
|
$ 10,498 |
|
Interest expense |
1,351 |
|
256 |
|
2,563 |
|
842 |
|
1,095 |
|
Income tax (benefit) expense |
(12,612) |
|
37 |
|
(12,531) |
|
293 |
|
649 |
|
Depreciation and amortization |
581 |
|
220 |
|
1,207 |
|
662 |
|
891 |
|
EBITDA (Non-GAAP) (1) |
$ 9,675 |
|
$ 3,045 |
|
$ 18,742 |
|
$ 7,865 |
|
$ 13,133 |
|
Stock compensation expense |
569 |
|
272 |
|
1,706 |
|
915 |
|
1,366 |
|
Severance and retirement |
16 |
|
— |
|
67 |
|
32 |
|
39 |
|
Contingent liability revaluation |
— |
|
(19) |
|
(127) |
|
(46) |
|
71 |
|
Gain on disposal of asset |
— |
|
— |
|
(7) |
|
(34) |
|
(124) |
|
Amortization of contract asset (2) |
1,294 |
|
1,592 |
|
4,210 |
|
4,341 |
|
5,612 |
|
Non-Recurring professional fees (3) |
167 |
|
(50) |
|
4,362 |
|
230 |
|
230 |
|
Adjusted EBITDA (Non-GAAP) (1) |
$ 11,721 |
|
$ 4,840 |
|
$ 28,953 |
|
$ 13,303 |
|
$ 20,327 |
|
|
|
|
(1) |
Management believes that EBITDA and Adjusted EBITDA for the three and nine months ended September 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 adjustments made to net income for certain non-cash or non-recurring items 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, compensation and operational objectives. In addition, the Company believes that Adjusted EBITDA provides investors, creditors and analysts with a clearer view of the Company's leverage profile and debt service capacity, enhancing comparability and augmenting the ability of investors, creditors and analysts to make investment decisions based upon liquidity. |
|
(2) |
The Company's contract assets arose from fixed, non-refundable consideration in the form of convertible notes issued by the Company to ProFrac in connection with the entry into the ProFrac Agreement and are amortized as a reduction of revenue over the contract term. While the GAAP presentation reduces revenue, these amounts economically represent the cost of acquiring the ProFrac Agreement, similar to commissions, marketing spend or other customer acquisition expenses. Accordingly, the Company's management treats the amortization of contract assets similar to a non-cash expense added-back to arrive at Adjusted EBITDA to more accurately reflect the recurring cash impact of the transaction and to maintain comparability with the treatment of other amortization costs and comparability of the Company's results with competitors that may not report amortization of contract assets. The Company believes that it is important for investors to understand that under GAAP, the amortization of contract assets is not an expense and instead reduces revenue. |
|
(3) |
Includes |
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SOURCE Flotek Industries, Inc.
FAQ
What did Flotek (FTK) report for Q3 2025 revenue and gross profit?
Why did Flotek's net income jump to $20.4M in Q3 2025 for FTK?
How much did Flotek's Adjusted EBITDA improve in Q3 2025 for FTK?
What contribution did PWRtek (acquired assets) make to Flotek's Q3 2025 results (FTK)?
How did Flotek's Data Analytics segment perform in Q3 2025 for FTK?
