Flotek Industries, Inc. (FTK) entered a senior secured credit agreement under which lenders funded $75.0 million of initial term loans on September 23, 2026. The agreement includes $15.0 million of committed initial delayed-draw loans, which FTK may request once after closing and on or before June 30, 2027, plus up to $30.0 million in additional delayed-draw commitments subject to Required Lenders’ approval through March 31, 2028. Draws require a Consolidated Leverage Ratio no higher than 2.00:1.00 after borrowing.
A portion of the net proceeds repaid all outstanding obligations under the PWRTEK Note; proceeds are expected to support capital expenditures, working capital and general corporate purposes. PC Energy exchanged $12.5 million of PWRTEK Note obligations for term loans through a cashless roll; it is an affiliate of ProFrac founders Dan Wilks and Farris Wilks, and the audit committee approved the transactions. Interest is Term SOFR, subject to a 2.50% floor, plus a 6.50% margin. Quarterly installments equal to 0.25% of each tranche’s aggregate initial principal begin two years after closing, with remaining principal due September 23, 2031. A 3.00:1.00 quarter-end leverage limit applies beginning with the first full fiscal quarter after closing. The existing asset-based loan was extended 12 months to October 31, 2027.
Flotek Industries, Inc. (FTK) received an updated ownership report in which ProFrac Holding Corp., through affiliated entities, states beneficial ownership of 20,937,915 shares of common stock, representing about 54.5% of the company’s outstanding shares, based on 36,220,429 shares outstanding as of August 3, 2026.
The amendment describes that ProFrac GDM, LLC previously exercised a warrant on March 13, 2026 for 6,000,000 shares, and on September 11, 2026 transferred an aggregate 2,306,806 shares to THRC Holdings, LP and Farris C. Wilks in exchange for the deemed full repayment and cancellation of $60,000,000 of Alpine Holding II, LLC term loans, designated as a separate class of 2026 Term Loans.
FLOTEK INDUSTRIES INC (symbol: FTK) is the issuer of record for a Form 4 filing submitted to the SEC. Wilks Matthew reported reported purchase transactions in this Form 4 filing.
Flotek Industries Inc (FTK) reports that on September 11, 2026, THRC Holdings, LP acquired 1,319,493 shares of Common Stock from ProFrac GDM, LLC under a stock transfer agreement, in exchange for the cancellation of $34,320,000 of Alpine Holding II, LLC term loans held by THRC. The implied price was $26.01 per share, based on the volume-weighted average price of Flotek’s Common Stock on the New York Stock Exchange over the five trading days ending immediately before that date. Following this transaction, THRC holds 1,477,285 shares of Flotek Common Stock indirectly attributed to director Matthew Wilks as VP-Investments of THRC, and an additional 60,000 shares are held indirectly through JCMWZ, LLC; Wilks disclaims beneficial ownership of all reported securities except to the extent of his pecuniary interest.
Flotek Industries Inc (FTK) had a large shareholder, ProFrac GDM, LLC, report a sale of Common Stock on September 11, 2026. ProFrac GDM transferred 2,306,806 shares to THRC Holdings, LP and Farris Wilks under stock transfer agreements at $26.01 per share, in exchange for cancellation of specified Alpine Holding II, LLC term loans. After these transfers, ProFrac GDM directly held 3,693,194 shares of Flotek Common Stock. No Rule 10b5-1 trading plan is reported for this transaction.
Flotek Industries, Inc. (FTK) raised its full-year 2026 guidance, citing continued strength in international chemistry sales and momentum in its data analytics business. The company now expects 2026 total revenue of $360 million to $370 million and Adjusted EBITDA of $50 million to $54 million, increased from prior ranges of $340 million to $350 million and $47 million to $51 million. At the new midpoints, revenue and Adjusted EBITDA would rise 54% and 58%, respectively, versus reported 2025 metrics.
For the second quarter of 2026, Flotek reported revenue of $99.4 million, up 70% from $58.4 million a year earlier, net income of $10.0 million versus $1.8 million, and Adjusted EBITDA of $16.8 million versus $8.0 million. International chemistry revenue was $10.6 million in the quarter and is expected to exceed $40 million during the second half of 2026, supported by work in Saudi Arabia. For 2025, Flotek reported net income of $30.5 million and Adjusted EBITDA of $32.8 million.
Flotek Industries, Inc. (FTK) reports that the Puerto Rico Electric Power Authority (PREPA) has delivered formal notice terminating the Power Purchase and Operating Agreement (PPOA) and the related PREPA Contract, effective immediately. Flotek had been assigned certain contractual responsibilities under this agreement in July 2026.
The PREPA Contract contemplated a 10-year term, with deployment of up to six pairs of PWRtek smart conditioning and distribution skids and up to 40 MW of primary power generation capacity within a 400 MW natural gas-fired project. At full deployment, Flotek had expected approximately $40 million in annual revenue and a potential $400 million 10-year revenue backlog from this contract. Flotek states that it has not generated any revenue, received any payments, or commenced equipment deployment under the PREPA Contract, and that the termination does not affect its previously issued 2026 financial guidance, which excluded any contribution from this project.
Flotek Industries, Inc. reported that its 10-year power services agreement supporting a 400 MW natural gas-fired project for the Puerto Rico Electric Power Authority faces significant uncertainty. The Financial Oversight and Management Board for Puerto Rico voted to revoke its approval of the power generation contract and directed PREPA to terminate it, and PREPA has ordered all consortium parties, including Flotek, to immediately halt work while it evaluates recent developments. The contract had been expected to involve deployment of up to 40 MW of Flotek’s PWRtek-based power generation capacity, generate approximately $40 million in annual revenue at full deployment, and create a potential 10-year revenue backlog of about $400 million. Flotek reaffirmed its previously raised full-year 2026 guidance for total revenue of $340–$350 million and Adjusted EBITDA of $47–$51 million, which already excluded any contribution from the PREPA Contract. The company highlights substantial execution and third-party risks across its emerging power services contracts, including a separate Utility Support Contract for up to 50 MW, and cautions that delays, terminations, or project failures could materially reduce or eliminate expected revenues.
Flotek Industries, Inc. reported higher Q2 2026 results, with total revenues of $99.367 million (up 70% year over year) and net income of $9.953 million versus $1.768 million. For the first half of 2026, revenue rose to $169.418 million and net income to $14.617 million, driven by increased chemistry volumes under the ProFrac supply agreement and rapid growth in the Data Analytics segment, including Lease Agreement and Utility Support Contract revenue.
Total assets were $268.036 million at June 30, 2026, including a $40.0 million related-party PWRtek Note due in 2030 and $10.4 million outstanding under an asset-based loan; stockholders’ equity was $129.213 million. Operating cash flow was a $6.580 million use of cash as accounts receivable and inventories expanded to support growth. Customer concentration is high, with related-party ProFrac contributing 63.8% of year-to-date revenue. After quarter-end, Flotek was awarded a 10-year PREPA contract using its PWRtek platform, expected to generate approximately $40 million of annual revenue at full deployment and potential 10-year revenue of about $400 million.
Flotek Industries reported strong growth for the quarter ended June 30, 2026, with revenue of $99.4 million, up 70% from a year earlier. Gross profit was $23.8 million, or 24% of revenue. Net income rose to $10.0 million and diluted EPS to $0.26, while Adjusted EBITDA reached $16.8 million, a 109% increase. Related-party customers contributed $56.1 million of revenue versus $43.2 million from external customers.
Chemistry Technologies generated $80.2 million in quarterly revenue, including $10.6 million internationally, and Data Analytics delivered record revenue of $19.2 million, accounting for 51% of total gross profit. Based on first-half results, the company raised its 2026 guidance to total revenue of $340–$350 million and Adjusted EBITDA of $47–$51 million, excluding any impact from a newly awarded 10-year, ~$400 million Puerto Rico power services contract supporting a 400 MW gas power project.
Flotek Industries, Inc. announced it has been awarded a 10-year contract to support natural gas-fired grid enhancement initiatives for the Puerto Rico Electric Power Authority as part of a 400 MW emergency power generation project in Puerto Rico.
Under the agreement, Flotek expects a revenue backlog of approximately $400 million from rental of gas-fired generation equipment and deployment of its proprietary PWRtek platform, including up to 40 MW of primary generation and up to six pairs of smart conditioning and distribution skids. At full deployment, annual revenue is expected to be approximately $40 million. Support equipment deployment is expected to begin in the fourth quarter of 2026, with initial power generation equipment and skids by the end of the first quarter of 2027. The company notes that realizing these revenues depends on successful completion and operation of the overall 400 MW project, of which its scope represents approximately 10%, and is subject to permitting, fuel supply, financing, weather, and other project-level risks.