Flotek Industries raises 2026 revenue outlook to $382M-$390M
The revised 2026 outlook is $382 million-$390 million in revenue and $59 million-$62 million in Adjusted EBITDA.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Flotek Industries (FTK) reported third-quarter 2026 revenue of $114.4 million, its highest quarterly level in 12 years and up 104% year over year. Gross profit was $27.4 million, up 54%, and Adjusted EBITDA was $19.5 million, up 87%. Net income fell 35% to $13.3 million and diluted earnings per share fell 36% to $0.34; 2025 net income included a $12.6 million non-cash tax benefit. Related-party revenue was $57.4 million of total revenue.
Flotek raised 2026 revenue guidance to $382 million-$390 million from $360 million-$370 million and Adjusted EBITDA guidance to $59 million-$62 million from $50 million-$54 million. It expects $15 million-$20 million of 2027 capital expenditures, partly funded by proceeds from its September term loan. The $120 million term-loan facility funded $75 million at closing; additional draws include a $15 million committed draw subject to a leverage ratio test and a $30 million draw subject to lender consent and the same test.
For the nine months ended September 30, 2026, net cash used in operating activities was $16.842 million, compared with $957,000 provided in 2025.
3 points · 1 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.2026 revenue guidance increased to $382 million-$390 million.
- Moderate pointQuarterly revenue increased 104% year over year to $114.4 million.
- Moderate pointAdjusted EBITDA increased 87% year over year to $19.5 million.
Negative
- Moderate pointQuarterly net income fell 35% to $13.3 million.
- Moderate pointNine-month operating cash flow was negative $16.842 million, versus $957,000 provided.
Filing Explained
At
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $114.4 million
Gross profit: $27.4 million
Net income: $13.3 million
+5 more
8 metrics
Revenue
$114.4 million
Three months ended September 30, 2026; up 104% year over year
Gross profit
$27.4 million
Three months ended September 30, 2026; up 54% year over year
Net income
$13.3 million
Three months ended September 30, 2026; down 35% year over year
Diluted income per share
$0.34
Three months ended September 30, 2026; down 36% year over year
Adjusted EBITDA
$19.5 million
Three months ended September 30, 2026; up 87% year over year
2026 revenue guidance
$382 million-$390 million
Current full-year guidance range
2026 Adjusted EBITDA guidance
$59 million-$62 million
Current full-year guidance range
Net cash used in operating activities
Negative $16.842 million
Nine months ended September 30, 2026; $957,000 provided in 2025
Key Terms
Adjusted EBITDA, Minimum Purchase Requirements, delayed draw, leverage ratio test, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA (Non-GAAP)"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Minimum Purchase Requirements financial
"Minimum Purchase Requirements under the long-term supply agreement"
delayed draw financial
"$15MM committed delayed draw"
leverage ratio test financial
"subject to leverage ratio test"
MACT CC regulatory
"refinery flare gas (MACT CC)"
Earnings Snapshot
Revenue: $114.4 million · Guidance included
Third quarter 2026
Revenue
$114.4 million
104% year over year
Gross profit
$27.4 million
54% year over year
Net income
$13.3 million
Down 35% year over year
Adjusted EBITDA
$19.5 million
87% year over year
Diluted income per share
$0.34
Down 36% year over year
Guidance
2026 revenue: $382 million-$390 million; Adjusted EBITDA: $59 million-$62 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was FTK's third-quarter 2026 revenue?
FTK reported third-quarter 2026 revenue of $114.4 million, up 104% from $56.0 million a year earlier. Chemistry Technologies revenue was $96.3 million, including $50.3 million of related-party chemistry revenue, while Data Analytics revenue was $18.1 million.
What were FTK's third-quarter 2026 earnings?
FTK reported net income of $13.3 million and diluted earnings per share of $0.34. Net income was down 35% and diluted earnings per share was down 36% year over year; third-quarter 2025 net income included a $12.6 million non-cash tax benefit.
What is FTK's updated 2026 guidance?
FTK raised its 2026 revenue guidance to $382 million-$390 million, from $360 million-$370 million. Adjusted EBITDA guidance increased to $59 million-$62 million, from $50 million-$54 million.
What are the terms of FTK's term loan delayed draws?
The $120 million term-loan facility included $75 million funded at closing. A $15 million committed delayed draw is available through June 30, 2027, subject to a leverage ratio test. A $30 million delayed draw is available through March 31, 2028, subject to lender consent and the same test.
What did the EPA approve for FTK?
On October 20, 2026, the EPA approved VeraCAL as an alternative to gas chromatography for refinery flare gas under MACT CC. The approval was issued to JP3 Measurement LLC, a Flotek subsidiary, and was the second EPA alternative-method approval for VeraCAL.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive office and zip code)
(Registrant’s telephone number, including area code)
(Not applicable)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of Exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 | Results of Operations and Financial Condition | ||||
On November 3, 2026, Flotek Industries, Inc. (the “Company”) issued a press release providing its financial results for the quarter ended September 30, 2026 and announcing that it will hold a conference call to discuss its financial and operating results. The press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 2.02 of this Current Report on Form 8-K and in Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is not subject to the liabilities of that section and is not deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as otherwise expressly stated in such filing.
Item 7.01 | Regulation FD Disclosure | ||||
On November 3, 2026, the Company provided on its website a presentation containing information relating to its current operations and financial results. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 of this Current Report on 8-K and in Exhibit 99.2 shall not be deemed to be “filed” for the purposes of the Exchange Act, is not subject to the liabilities of that section and is not deemed incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01 | Financial Statements and Exhibits. | ||||
d) Exhibits.
| Exhibit Number | Description | |||||||
| 99.1 | Press Release dated November 3, 2026 | |||||||
| 99.2 | Presentation of Flotek Industries, Inc. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FLOTEK INDUSTRIES, INC. | ||||||||
Date: November 3, 2026 | /s/ Bond Clement | |||||||
| Name: | Bond Clement | |||||||
| Title: | Chief Financial Officer | |||||||
Exhibit 99.1
Flotek Delivers Quarterly Revenue Above $100 Million, Achieving Twelve-Year High, and Increases Guidance Again
HOUSTON, November 3, 2026 - Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced third quarter 2026 revenue of $114.4 million, reaching its highest quarterly revenue level in twelve years. The Company’s results reflect broad-based growth across its Data Analytics and Chemistry Technologies segments, with total revenue increasing 104% year over year. Based on the Company's strong year-to-date performance and its outlook for the fourth quarter, Flotek also increased its full-year 2026 guidance.
A summary of key financial metrics is as follows (in thousands, except ‘per share’ amounts):
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||||||||||||||||||||||||
| Total Revenues | $ | 114,352 | $ | 56,031 | 104% | $ | 283,770 | $ | 169,743 | 67% | |||||||||||||||||||||||||
| Gross Profit | $ | 27,395 | $ | 17,783 | 54% | $ | 66,719 | $ | 44,639 | 49% | |||||||||||||||||||||||||
| Net Income | $ | 13,306 | $ | 20,355 | (35)% | $ | 27,923 | $ | 27,503 | 2% | |||||||||||||||||||||||||
| Diluted Income Per Share | $ | 0.34 | $ | 0.53 | (36)% | $ | 0.72 | $ | 0.78 | (8)% | |||||||||||||||||||||||||
Adjusted EBITDA (1) | $ | 19,523 | $ | 10,427 | 87% | $ | 45,404 | $ | 24,743 | 84% | |||||||||||||||||||||||||
Third Quarter 2026 Highlights
•Total revenue reached $114.4 million, more than doubling from the year-ago quarter
•Data Analytics revenue increased 104% as compared to third quarter 2025
•International Chemistry revenue grew to $28.4 million accounting for 25% of total revenue
•Revenue, net income and Adjusted EBITDA(1) have grown in every quarter of 2026
•Term loan closed in September expected to fund expanded Data Analytics capital plan
2026 Guidance Update
Based on year-to-date results and the Company’s current expectations, Flotek is increasing its guidance metrics for 2026 as follows (in millions):
| Metric | Previous | Current | |||||||||
| Total Revenues | $360-$370 | $382-$390 | |||||||||
Adjusted EBITDA(2) | $50-$54 | $59-$62 | |||||||||
Data Analytics Capital Investment Plan
The Company expects capital expenditures in 2027 to total between $15 million and $20 million. Funding is expected to include a portion of the proceeds from the Company’s recently closed Term Loan.
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The capital investment plan is expected to support the continued expansion of the Data Analytics segment, with investments focused on the following priorities:
•Expanding the Company’s inventory of proprietary measurement instruments;
•Growing the fleet of near real-time gas conditioning and distribution equipment; and
•Enhancing existing manufacturing capacity to support continued segment scaling.
Management Commentary
Chief Executive Officer Dr. Ryan Ezell commented, "With our third quarter results, we have now achieved growth in revenue, net income and Adjusted EBITDA in every quarter this year. Both segments generated strong year-over-year growth, with total quarterly revenue reaching its highest level since the third quarter of 2014. Data Analytics continues to provide strong profit contribution as the segment generated 45% of total Company gross profit on only 16% of total revenue. Our Chemistry segment’s international sales increased by $26 million from the year-ago quarter, while related party chemistry revenue exceeded $50 million in a quarter for the first time in the history of our chemistry supply agreement.
Our third-quarter performance reflects consistent execution of our corporate strategy and further validates Flotek’s industrialized pivot into a data-driven technology leader. We believe the debt financing completed in September provides the capital needed to expand our Data Analytics asset base, which we expect will support high-margin revenue growth in 2027. Our 2027 capital investment plan is expected to exceed our cumulative capital expenditures over the past several years as we pursue opportunities to expand the application of our technologies beyond the oil and gas industry. We believe our real-time measurement solutions are well positioned to help address the rapidly growing demand for behind-the-meter power generation and other differentiated industrial and infrastructure applications.”
Third Quarter 2026 Financial Results
•Revenue: Flotek reported total revenues of $114.4 million for the third quarter of 2026, an increase of 104% compared to total revenues of $56 million for the third quarter of 2025.
Both Chemistry and Data Analytics segment revenues increased 104% as compared to the 2025 quarter. International Chemistry revenue totaled $28.4 million during the third quarter, as compared to $2.2 million in the year-ago period, reflecting the Company’s ongoing work in the Middle East.
Related party Chemistry revenue increased 87% from the year-ago quarter, marking the first time since the inception of the Company's long-term supply agreement with ProFrac Services LLC that quarterly revenues exceeded $50 million. Revenue related to the minimum purchase requirements (the “Minimum Purchase Requirements”) under the long-term supply agreement totaled $0.9 million and $8.7 million, during the third quarters of 2026 and 2025, respectively. The reduction in revenue related to the Minimum Purchase Requirements during the current quarter was due to the significant increase in related party Chemistry revenue versus the year-ago quarter.
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Segment Revenue Summary (in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||||||||||||||||||||||||
| Chemistry Technologies: | |||||||||||||||||||||||||||||||||||
| External Revenues | $ | 45,962 | $ | 20,221 | 127% | $ | 91,818 | $ | 64,773 | 42% | |||||||||||||||||||||||||
| Related Party Revenues | 50,335 | 26,956 | 87% | 144,347 | 87,562 | 65% | |||||||||||||||||||||||||||||
| Total | $ | 96,297 | $ | 47,177 | 104% | $ | 236,165 | $ | 152,335 | 55% | |||||||||||||||||||||||||
| Data Analytics: | |||||||||||||||||||||||||||||||||||
| Product Revenues | $ | 3,856 | $ | 1,694 | 128% | $ | 10,887 | $ | 5,176 | 110% | |||||||||||||||||||||||||
| Service Revenues | 14,199 | 7,160 | 98% | 36,718 | 12,232 | 200% | |||||||||||||||||||||||||||||
| Total | $ | 18,055 | $ | 8,854 | 104% | $ | 47,605 | $ | 17,408 | 173% | |||||||||||||||||||||||||
•Gross Profit: The Company generated gross profit of $27.4 million during the third quarter of 2026, or 24% of revenue, compared to $17.8 million during the third quarter of 2025, or 32% of revenue. The decline in gross profit as a percentage of revenue was primarily the result of the $7.8 million decline in current quarter revenue related to the Minimum Purchase Requirements, which does not have any associated cost.
•Selling, General and Administrative (“SG&A”) Expense: SG&A expense totaled $8.5 million for the third quarter of 2026, or 7% of revenue, compared to $7.4 million during the third quarter of 2025, or 13% of revenue. The increase in current quarter SG&A expense was primarily the result of higher non-cash stock compensation costs and increased costs related to the Company’s annual bonus plan.
•Net Income and EPS: Flotek reported net income of $13.3 million, or $0.34 per diluted share, for the third quarter of 2026. This compares to net income of $20.4 million, or $0.53 per diluted share, for the third quarter of 2025. Third quarter 2025 net income included a $12.6 million non-cash tax benefit related to the partial release of the Company’s valuation allowance on deferred tax assets.
•Adjusted EBITDA (Non-GAAP)(1): Adjusted EBITDA totaled $19.5 million in the third quarter of 2026 as compared to $10.4 million in the third quarter of 2025. Adjusted EBITDA calculations for the third quarter and nine-month periods of 2026 and 2025 do not add back non-cash amortization of contract assets totaling $2.4 million, $1.3 million, $7.1 million and $4.2 million, respectively.
(1)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, including a reconciliation to net income, the most comparable GAAP measure. Calculations do not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the third quarters of 2026 and 2025, respectively, and $7.1 million and $4.2 million during the nine months ended September 30, 2026 and 2025, respectively.
(2)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 net income, 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, and interest costs related to fluctuations in borrowings under the Company’s asset based loan and fluctuations in interest rates. These items do not impact the non-GAAP financial measure. Guidance does not add back non-cash amortization of contract assets estimated to total approximately $9.3 million during full-year 2026.
Conference Call Details
The Company plans to host its earnings conference call on Wednesday, November 4, 2026, at 9:00 a.m. CST (10:00 a.m. EST).
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Participants may access the call through Flotek’s website at https://ir.flotekind.com/events, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/KaD61d81pgX 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 global technology-driven company that combines the synergy of proprietary technologies through near real-time data analytics and advanced chemistry to collaboratively address complex challenges for energy, industrial and infrastructure sector customers and help them optimize operations, enhance asset performance and maximize financial returns.
Leveraging a portfolio of more than 130 patents, over two decades of field and laboratory data, and a global presence in more than 59 countries, Flotek delivers innovative, data-driven solutions designed to create measurable value across the energy and infrastructure lifecycle.
Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit www.flotekind.com.
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, may, could, should, target, forecast, project, potential 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. These statements include, without limitation, statements regarding the Company's financial guidance and outlook, including anticipated revenues and Adjusted EBITDA; the amount, timing and funding of the Company’s Data Analytics capital investment plan and the expected benefits thereof; anticipated revenues under the Company’s long-term contracts, including the long-term supply agreement with ProFrac Services, LLC and the Minimum Purchase Requirements thereunder; the total term of such contracts and the likelihood of their extension, renewal or early termination; the timing of the scaling and deployment of equipment; the total power capacity and operating performance of equipment once deployed; the Company’s ability to perform under and satisfy the terms and conditions of its contracts; the expansion of the Company’s technologies into new markets and applications, including behind-the-meter power generation and other industrial and infrastructure applications; and the expected growth of the Company’s international operations. Factors that could cause actual results to differ materially from anticipated results include, without limitation: the Company’s dependence on ProFrac Services, LLC, a related party, for a significant portion of its revenue, and the effect of changes in ProFrac’s activity levels, financial condition or purchasing decisions; the Company’s indebtedness, including its term loan and
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asset-based loan, and its ability to comply with the covenants and other restrictions thereunder; the Company’s ability to execute its capital investment plan on budget and on schedule; demand for and pricing of the Company’s products and services, which are affected by oil and natural gas prices and drilling and completion activity; the Company’s ability to successfully commercialize its technologies outside of oil and gas; risks associated with international operations, including in the Middle East; the outcome of the pending shareholder litigation described in the Company’s filings with the Securities and Exchange Commission and any other investigations or legal proceedings; and risks related to the Company’s projects that are outside the Company's control, including, without limitation, securing fuel supply, international logistics, obtaining permits and governmental approvals, satisfying bonding, performance security and financing requirements, third-party equipment delivery, construction execution and scheduling, meeting execution deadlines and integrating systems, actions taken by governmental, regulatory or oversight authorities, changes in government policy, tariffs and trade restrictions, political and regulatory developments, geopolitical instability or armed conflicts, and severe weather events. Further information about the risks and uncertainties that may impact the Company is set forth in the Company’s most recent filings with the Securities and Exchange Commission on Form 10-K, Form 10-Q and Form 8-K (including, without limitation, in the "Risk Factors" sections 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.
Investor contact:
Mike Critelli
E: ir@flotekind.com
5
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
| September 30, 2026 | December 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 21,275 | $ | 5,731 | |||||||
| Restricted cash | 105 | 104 | |||||||||
Accounts receivable, net of allowance for credit losses of $1,109 and $764 at September 30, 2026 and December 31, 2025, respectively | 66,015 | 19,043 | |||||||||
Accounts receivable, related party, net of allowance for credit losses of $0 at September 30, 2026 and December 31, 2025 | 72,621 | 64,204 | |||||||||
| Equipment credit, related party | 8,230 | — | |||||||||
| Inventories, net | 33,722 | 10,629 | |||||||||
| Other current assets | 1,963 | 3,445 | |||||||||
| Current contract asset | 9,185 | 7,621 | |||||||||
| Total current assets | 213,116 | 110,777 | |||||||||
| Long-term contract asset | 46,479 | 55,115 | |||||||||
| Property and equipment, net | 24,541 | 20,344 | |||||||||
| Right-of-use assets | 3,094 | 3,083 | |||||||||
| Deferred tax assets, net | 22,372 | 29,152 | |||||||||
| Other long-term assets | 1,509 | 1,578 | |||||||||
| TOTAL ASSETS | $ | 311,111 | $ | 220,049 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 74,485 | $ | 48,317 | |||||||
| Accrued liabilities | 6,903 | 7,256 | |||||||||
| Income taxes payable | 1,293 | 258 | |||||||||
| Interest payable | 151 | — | |||||||||
| Interest payable, related party | — | 1,008 | |||||||||
| Current portion of operating lease liabilities | 1,574 | 1,251 | |||||||||
| Current portion of finance lease liabilities | 164 | 153 | |||||||||
| Asset-based loan | 7,933 | 3,332 | |||||||||
| Total current liabilities | 92,503 | 61,575 | |||||||||
| Deferred revenue, long-term | 51 | — | |||||||||
Term loan facility, net of deferred financing costs, including $11,671 held by related party, net of deferred financing costs | 70,028 | — | |||||||||
| Note payable - related party, net of deferred financing costs | — | 39,584 | |||||||||
| Long-term operating lease liabilities | 4,912 | 5,608 | |||||||||
| Long-term finance lease liabilities | 100 | 224 | |||||||||
| TOTAL LIABILITIES | 167,594 | 106,991 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity: | |||||||||||
| Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding | — | — | |||||||||
Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,440,565 shares issued and 36,218,789 shares outstanding at September 30, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025 | 4 | 3 | |||||||||
| Additional paid-in capital | 438,129 | 434,964 | |||||||||
| Accumulated other comprehensive income | 155 | 96 | |||||||||
| Accumulated deficit | (257,857) | (285,780) | |||||||||
Treasury stock, at cost; 1,221,776 and 1,190,480 shares at September 30, 2026 and December 31, 2025, respectively | (36,914) | (36,225) | |||||||||
| Total stockholders’ equity | 143,517 | 113,058 | |||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 311,111 | $ | 220,049 | |||||||
6
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenue: | |||||||||||||||||||||||
| Revenue from external customers | $ | 56,942 | $ | 22,941 | $ | 118,332 | $ | 72,546 | |||||||||||||||
| Revenue from related party | 57,410 | 33,090 | 165,438 | 97,197 | |||||||||||||||||||
| Total revenues | 114,352 | 56,031 | 283,770 | 169,743 | |||||||||||||||||||
| Cost of goods sold | 86,957 | 38,248 | 217,051 | 125,104 | |||||||||||||||||||
| Gross profit | 27,395 | 17,783 | 66,719 | 44,639 | |||||||||||||||||||
| Operating costs and expenses: | |||||||||||||||||||||||
| Selling, general, and administrative | 8,511 | 7,384 | 23,172 | 20,462 | |||||||||||||||||||
| Asset acquisition expenses | — | 167 | — | 4,362 | |||||||||||||||||||
| Depreciation | 666 | 581 | 1,961 | 1,207 | |||||||||||||||||||
| Research and development | 473 | 549 | 1,366 | 1,359 | |||||||||||||||||||
| Gain on sale of property and equipment | (208) | — | (208) | (7) | |||||||||||||||||||
| Total operating costs and expenses | 9,442 | 8,681 | 26,291 | 27,383 | |||||||||||||||||||
| Income from operations | 17,953 | 9,102 | 40,428 | 17,256 | |||||||||||||||||||
| Other income (expense): | |||||||||||||||||||||||
| Interest expense | (1,416) | (1,351) | (4,119) | (2,563) | |||||||||||||||||||
| Loss on extinguishment of debt | (242) | — | (242) | — | |||||||||||||||||||
| Other income, net | 59 | (8) | 94 | 279 | |||||||||||||||||||
| Total other expense | (1,599) | (1,359) | (4,267) | (2,284) | |||||||||||||||||||
| Income before income taxes | 16,354 | 7,743 | 36,161 | 14,972 | |||||||||||||||||||
| Income tax (expense) benefit | (3,048) | 12,612 | (8,238) | 12,531 | |||||||||||||||||||
| Net income | $ | 13,306 | $ | 20,355 | $ | 27,923 | $ | 27,503 | |||||||||||||||
| Income per common share: | |||||||||||||||||||||||
| Basic | $ | 0.37 | $ | 0.57 | $ | 0.77 | $ | 0.83 | |||||||||||||||
| Diluted | $ | 0.34 | $ | 0.53 | $ | 0.72 | $ | 0.78 | |||||||||||||||
| Weighted average common shares: | |||||||||||||||||||||||
| Weighted average common shares used in computing basic income per common share | 36,174 | 35,868 | 36,142 | 33,189 | |||||||||||||||||||
| Weighted average common shares used in computing diluted income per common share | 38,684 | 38,137 | 38,522 | 35,420 | |||||||||||||||||||
7
FLOTEK INDUSTRIES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net income | $ | 27,923 | $ | 27,503 | |||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
| Change in fair value of contingent consideration | — | (127) | |||||||||
| Amortization of contract assets | 7,072 | 4,210 | |||||||||
| Depreciation | 1,961 | 1,207 | |||||||||
| Amortization of deferred financing costs | 257 | 252 | |||||||||
| Loss on extinguishment of debt | 242 | — | |||||||||
| Provision for credit losses, net of recoveries | 383 | 555 | |||||||||
| Provision for excess and obsolete inventory | 1,172 | 307 | |||||||||
| Gain on sale of property and equipment | (208) | (7) | |||||||||
| Non-cash lease expense | 587 | 840 | |||||||||
| Stock compensation expense | 3,020 | 1,706 | |||||||||
| Deferred income tax expense (benefit) | 6,780 | (12,773) | |||||||||
| Changes in current assets and liabilities: | |||||||||||
| Accounts receivable | (47,355) | (9,936) | |||||||||
| Accounts receivable, related party | (21,396) | (10,013) | |||||||||
| Inventories | (23,764) | 462 | |||||||||
| Income tax receivable | 32 | (32) | |||||||||
| Other assets | 1,379 | 724 | |||||||||
| Accounts payable | 26,168 | (3,000) | |||||||||
| Accrued liabilities | (302) | (874) | |||||||||
| Operating lease liabilities | (971) | (1,204) | |||||||||
| Income taxes payable | 1,035 | 149 | |||||||||
| Interest payable | 151 | — | |||||||||
| Interest payable, related party | (1,008) | 1,008 | |||||||||
| Net cash (used in) provided by operating activities | (16,842) | 957 | |||||||||
| Cash flows from investing activities: | |||||||||||
| Capital expenditures | (1,702) | (1,697) | |||||||||
| Proceeds from sale of assets | — | 7 | |||||||||
| Net cash used in investing activities | (1,702) | (1,690) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Proceeds from term loan facility | 62,500 | — | |||||||||
| Term loan facility issuance cost | (4,875) | — | |||||||||
| Payment of related party note payable | (27,500) | — | |||||||||
| Payments on long term debt | — | (60) | |||||||||
| Proceeds from asset-based loan | 199,310 | 147,000 | |||||||||
| Payments on asset-based loan | (194,709) | (145,127) | |||||||||
| Payment of asset-based loan origination costs | (40) | (150) | |||||||||
| Payment of note payable issuance costs | — | (480) | |||||||||
| Payment of stock warrant issuance costs | — | (653) | |||||||||
| Proceeds from exercise of April 2025 Warrant | 1 | — | |||||||||
| Payments to tax authorities for shares withheld from employees | (689) | (82) | |||||||||
| Proceeds from issuance of stock under Employee Stock Purchase Plan | 137 | 113 | |||||||||
| Proceeds from issuance of stock from stock option exercises | 8 | 574 | |||||||||
| Payments for finance leases | (113) | (60) | |||||||||
| Net cash provided by financing activities | 34,030 | 1,075 | |||||||||
| Effect of changes in exchange rates on cash and cash equivalents | 59 | (142) | |||||||||
| Net change in cash and cash equivalents and restricted cash | 15,545 | 200 | |||||||||
| Cash and cash equivalents at the beginning of period | 5,731 | 4,404 | |||||||||
| Restricted cash at the beginning of period | 104 | 102 | |||||||||
| Cash and cash equivalents and restricted cash at beginning of period | 5,835 | 4,506 | |||||||||
| Cash and cash equivalents at end of period | 21,275 | 4,603 | |||||||||
| Restricted cash at the end of period | 105 | 103 | |||||||||
| Cash and cash equivalents and restricted cash at end of period | $ | 21,380 | $ | 4,706 | |||||||
8
FLOTEK INDUSTRIES, INC.
UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS
(in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income | $ | 13,306 | $ | 20,355 | $ | 27,923 | $ | 27,503 | |||||||||||||||
| Interest expense | 1,416 | 1,351 | 4,119 | 2,563 | |||||||||||||||||||
| Income tax expense (benefit) | 3,048 | (12,612) | 8,238 | (12,531) | |||||||||||||||||||
| Depreciation and amortization | 666 | 581 | 1,961 | 1,207 | |||||||||||||||||||
EBITDA (Non-GAAP) (1) | $ | 18,436 | $ | 9,675 | $ | 42,241 | $ | 18,742 | |||||||||||||||
| Stock compensation expense | 987 | 569 | 3,020 | 1,706 | |||||||||||||||||||
| Severance and retirement | 8 | 16 | 19 | 67 | |||||||||||||||||||
| Loss on extinguishment of debt | 242 | — | 242 | — | |||||||||||||||||||
| Contingent liability revaluation | — | — | — | (127) | |||||||||||||||||||
| Gain on disposal of asset | (208) | — | (208) | (7) | |||||||||||||||||||
Non-Recurring professional fees (2) | 58 | 167 | 90 | 4,362 | |||||||||||||||||||
Adjusted EBITDA (Non-GAAP) (1) | $ | 19,523 | $ | 10,427 | $ | 45,404 | $ | 24,743 | |||||||||||||||
(1)Management believes that EBITDA and Adjusted EBITDA for the three and nine months ended September 30, 2026 and 2025 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. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the three months ended September 30, 2026 and 2025, respectively, and non-cash amortization of contract assets totaling $7.1 million and $4.2 million during the nine months ended September 30, 2026 and 2025, respectively.
(2)Includes $4.4 million of expenses for the nine months ended September 30, 2025, related to an asset acquisition.
9
FLOTEK INDUSTRIES, INC.
UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS
(in thousands)
| Three Months Ended June 30, | Three Months Ended March 31, | ||||||||||
| 2026 | 2026 | ||||||||||
| Net income | $ | 9,953 | $ | 4,664 | |||||||
| Interest expense | 1,371 | 1,332 | |||||||||
| Income tax expense (benefit) | 3,581 | 1,609 | |||||||||
| Depreciation and amortization | 664 | 631 | |||||||||
EBITDA (Non-GAAP) (1) | $ | 15,569 | $ | 8,236 | |||||||
| Stock compensation expense | 1,210 | 824 | |||||||||
| Severance and retirement | — | 11 | |||||||||
| Non-Recurring professional fees | 9 | 22 | |||||||||
Adjusted EBITDA (Non-GAAP) (1) | $ | 16,788 | $ | 9,093 | |||||||
(1)Management believes that EBITDA and Adjusted EBITDA for the three months ended June 30, 2026 and three months ended March 31, 2026 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. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $2.2 million during the three months ended June 30, 2026 and three months ended March 31, 2026, respectively.
10
Q3 2026 Earnings Presentation November 4, 2026
Forward-Looking Statements Certain statements set forth in this presentation 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. These statements include, without limitation, statements regarding the Company’s financial guidance and outlook, including anticipated revenues and Adjusted EBITDA; the amount, timing and funding of the Company’s Data Analytics capital investment plan and the expected benefits thereof; anticipated revenues under the Company’s long-term contracts, including the long-term supply agreement with ProFrac Services, LLC and the minimum purchase requirements thereunder, the Lease Agreement and the Utility Support Contract; the total term of such contracts and the likelihood of their extension, renewal or early termination; the timing of the scaling and deployment of equipment; the total power capacity and operating performance of equipment once deployed; the Company’s ability to perform under and satisfy the terms and conditions of its contracts; the expansion of the Company’s technologies into new markets and applications, including behind-the-meter power generation and other industrial and infrastructure applications; and the expected growth of the Company’s international operations. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates, may, could, should, target, forecast, project, potential 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 presentation. Although forward-looking statements in this presentation 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. Factors that could cause actual results to differ materially from anticipated results include, without limitation: the Company’s dependence on ProFrac Services, LLC, a related party, for a significant portion of its revenue, and the effect of changes in ProFrac’s activity levels, financial condition or purchasing decisions; the Company’s indebtedness, including its term loan and asset-based loan, and its ability to comply with the covenants and other restrictions thereunder; the Company’s ability to execute its capital investment plan on budget and on schedule; demand for and pricing of the Company’s products and services, which are affected by oil and natural gas prices and drilling and completion activity; the Company’s ability to successfully commercialize its technologies outside of oil and gas; risks associated with international operations, including in the Middle East; the outcome of the pending shareholder litigation described in the Company’s Securities and Exchange Commission filings and any other investigations or legal proceedings; and risks related to the Company’s projects that are outside the Company’s control, including, without limitation, securing fuel supply, international logistics, obtaining permits and governmental approvals, satisfying bonding, performance security and financing requirements, third-party equipment delivery, construction execution and scheduling, meeting execution deadlines and integrating systems, political and regulatory developments, actions taken by governmental, regulatory or oversight authorities, changes in government policy, tariffs and trade restrictions, geopolitical instability or armed conflicts, severe weather events, and other factors that could impact project timing, costs or performance. Further information about the risks and uncertainties that may impact the Company is set forth in the Company’s most recent filings with the Securities and Exchange Commission on Form 10-K, Form 10-Q and Form 8-K (including, without limitation, in the “Risk Factors” sections 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 presentation. 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 presentation. This presentation includes certain non-GAAP measures. Please refer to the reconciliations provided in the earnings press release and the appendix in this presentation for the most directly comparable GAAP measure. // 2
65% 35% 3Q25 55% 45% 3Q26 Transformation to Data-Driven Growth // 3 THE CONVERGENCE OF INNOVATIVE DATA AND CHEMISTRY SOLUTIONS Transforming business through real-time data, monitoring and process control across the energy & infrastructure value chain utilizing proprietary technologies Data Analytics Sustainable chemistry solutions to maximize customer’s value chain while minimizing their environmental impact Chemistry Technologies FLOTEK INDUSTRIES PROFILE: Founded: 1985 Employees: 160 Headquarters: Houston Patents: >130 Segment Gross Profit Contribution: $27.4MM$17.8MM
COMPLETION CHEMISTRY FRAC POWER GENERATION RVP & TRANSMIX MONITORING TREATMENT/STABILIZATION FLARE MONITORING DATA CENTER POWER GRID POWER TERMINAL & STORAGE MONITORING LNG TERMINALING AND EXPORTATION WATER TREATMENT ACID TREATMENT CEMENTING ADDITIVES // 4 Flotek: Expanding Addressable Market THE CONVERGENCE OF INNOVATIVE DATA AND CHEMISTRY SOLUTIONS
3Q26 3Q25 % Change Revenue $ 114.4 $ 56.0 104% Gross Profit $ 27.4 $ 17.8 54% Net Income $ 13.3 $ 20.4 (35)% Adj. EBITDA* $ 19.5 $ 10.4 87% Diluted EPS $ 0.34 $ 0.53 (36)% • Total revenue reached $114.4 million, more than doubling from the year-ago quarter • Revenue, net income, and Adjusted EBITDA* increased in every quarter of 2026 • Full year 2026 guidance raised on strong year-to-date results and 4th quarter outlook • Term loan closed in September expected to fund expanded Data Analytics capital plan • 3Q25 net income and EPS included $12.6 million non-cash tax benefit Flotek: 3Q 2026 Highlights // 5 *Adjusted EBITDA is a non-GAAP measure. See the Appendix in this presentation for a reconciliation to the most comparable GAAP measure. Calculations above do not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the third quarters of 2026 and 2025, respectively. $MM (except per share) HIGHEST QUARTERLY REVENUE IN PAST 12 YEARS
-$30 -$4 $15 $33 -5% 13% 21% 25% -7% -2% 3% 8% 13% 18% 23% 28% -$40 -$20 $0 $20 $40 $60 2022 2023 2024 2025 2026** G ro ss M ar gi n A dj . E BI TD A * ($ M M ) Gross Margin // 6 *Adjusted EBITDA is a non-GAAP measure. See the Appendix in this presentation for a reconciliation to the most comparable GAAP measure. Calculations above do not add back non-cash amortization of contract assets totaling $3.4 million, $5 million, $5.6 million, and $6.3 million during the years ended December 31, 2022, 2023, 2024 and 2025, respectively. ** A non-GAAP measure. See the “Unaudited Reconciliation of Non-GAAP Items & Non-Cash Items Impacting Earnings” tables in the appendix for more information about this measure. We are unable to reconcile this forward-looking non-GAAP measure to the most directly comparable GAAP 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 measure, including, among other items, certain stock-based compensation costs and interest costs related to fluctuations in borrowings outstanding under the Company’s asset based loan and fluctuations in interest rates. These items do not impact the non-GAAP measure. Guidance does not add back expected non-cash amortization of contract assets totaling approx $9.3 million during 2026. $59-62 Metric Previous Guidance Range New Guidance Range New Midpoint Vs. 2025 Revenue: $360MM - $370MM $382MM - $390MM +63% Adj. EBITDA**: $50MM - $54MM $59MM - $62MM +83% FY 2026 UPDATED GUIDANCE Represents the third increase to 2026 guidance. Transformational Growth Storyline Continues UPDATED GUIDANCE PROJECTS STRONG GROWTH METRICS VS 2025
$120 Million Term Loan Facility // 7 (1) Using mid-point of 2026 Adjusted EBITDA guidance and net debt as of September 30, 2026. We are unable to reconcile our forward-looking Adjusted EBITDA guidance, a non-GAAP financial measure, to the most directly comparable GAAP financial measure, net income (loss), 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 and interest costs related to fluctuations in borrowings under the Company's asset-based loan and fluctuations in interest rates. These items do not impact the non-GAAP financial measure and could be material to future net income (loss). Guidance does not add back non-cash amortization of contract assets estimated to total approximately $9.3 million during full-year 2026. See the "Unaudited Reconciliation of Non- GAAP Items & Non-Cash Items Impacting Earnings" section in this presentation for more information about these measures. INCREMENTAL LIQUIDITY TO SUPPORT CONTINUED GROWTH FACILITY STRUCTURE $120MM Term Loan Facility $75MM $15MM $30MM Funded at close Committed delayed draw Lender consent $20MM ABL remains in place · maturity extended to 10/31/27 5-Year Tenor Matures Sept. 2031 SOFR + 650 Floating-rate coupon 2-Year Holiday No required principal payments • Closed September 2026: − $75MM funded at closing − $15MM committed delayed draw, available through June 30, 2027 (subject to leverage ratio test) − $30MM delayed draw subject to lender consent, available through March 31, 2028 (subject to leverage ratio test) • Initial proceeds repay prior $40MM term loan; balance expected to fund 2027 Data Analytics growth capex, working capital and other general purposes • 9/30/26 leverage ratio of 0.9x(1)
$6.1 $7.1 $2.8 $11.0 $- $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 3Q25 3Q26 Data Analytics Revenue Related Party Revenue External Revenue 3Q26 EXTERNAL REVENUE EXCEEDED TOTAL SEGMENT REVENUE IN YEAR-AGO QUARTER • Percentage of revenue from external customers increased to 61% in 3Q26 vs 31% in 3Q25 // 8 *Service revenues include rental related revenues Revenue Mix Data Analytics: Rapid and Scalable Growth $18.1 $8.9 $MM 79% 21% 3Q 2026 % of Service Revenue* % of Product Revenue
POSITIONS VERACAL FOR REFINERY FLARE MONITORING // 9 Data Analytics: New EPA Approval EPA Approval: October 20, 2026 • EPA-approved alternative to gas chromatography for refinery flare gas (MACT CC) ¹ • The Company believes it positions VeraCAL across the 130 operable U.S. refineries ² • Flare monitoring rules recently extended to certain chemical and gasoline distribution sites Oct. 20, 2026 EPA approval letter 130 Operable U.S. refineries² 2nd EPA alternative-method approval for VeraCAL ¹ 40 CFR Part 63, Subpart CC; EPA ALT-163, issued to JP3 Measurement LLC, a Flotek subsidiary. ² EIA Refinery Capacity Report (June 2026).
POWER SERVICES CONTINUES ITS RAPID GROWTH TRAJECTORY // 10 Data Analytics: Power Services C U RRE NT FOOT PRI NT Over 4 GW 75+ sites 1.2 GW 24/7 41 Skids Supporting distributed and conventional generation Active e-frac and natural- gas fleets Conventional & Behind- the-Meter Power Monitoring and field- service operating model PWRtek Skids Deployed / in service RE C E N T A C C OMPL I S HME NTS • $14.3 MM in 3Q26 Power Services Revenue • >$100MM in Power Services contracted backlog • Secured long-term loan to fund build out of next generation NGD skids
// 11 Real-Time Measure Composition, BTU, methane number, Wobbe Real-Time Conditioning Pressure control, remove liquids, stabilize, blend to target Distribute and Isolate Low-pressure gas distributed site-wide to the HHP fleet Monitor and Analyze Live status, controls, alarms, Integration, and history Protected Generation Fewer derates, no shutdowns, improved economics, and Warranty protection GPA 2172 First optical analyzer to meet Standard ~0-15 sec Measurement time VIPER Live data and control Data Analytics: Power Services ACTIVE ON +50% OF DOMESTIC NATURAL GAS FLEETS BY YEAR END
DETECT Identify composition, Wobbe Index and methane-number changes upstream CONTROL Pressure control and fuel conditioning before variability reaches assets ISOLATE Maintain dedicated generator feeds and remove equipment without interruption PROVE Record alarms, fuel conditions and control actions through Viper and SCADA 7 Power/HVAC Optimization Emission/Noise Reduction Custody Transfer Gas Conditioning Real Time Measurement // 12 Data Analytics: Behind the Meter Ecosystem ELECTRICAL RELIABILITY SERVICES (ERS) OFFERS UNIQUE AND RAPID SCALE OPPORTUNITY
Data Analytics: Digital Valuation // 13 C U RRE NT FOOT PRI NT & M A RK E T 135 Digital Valuation units deployed or on order 1.4MM Producing U.S. wells¹ 698k U.S. well pads¹ 93k Active U.S. custody transfer sites² RE C E N T A C C OMPL I S HME NTS • Third Quarter Digital Valuation Revenue up 159% sequentially • Grew from 25 active in 2025 to 135 deployed or on order in 2026 • Production Surveillance Trial converted to 8 new DAAS Systems • XSPCTTM first optical spectrometer to achieve GPA 2172 (Nov 2025) ¹ U.S. EPA, Information Collection Request Supporting Statement, EPA ICR No. 2548.01: Oil and Natural Gas Sector (2016), p. 1: “almost 1.4 million producing oil and gas wells at approximately 698,800 well sites (onshore production facilities).” ² Estimated assuming 30 wells per 1 Crude LACT unit and 1 Natural Gas Custody transfer location, does not include Pipeline interconnects or metering stations which are also potential locations. XSPCT analyzer measuring crude quality in the Permian Basin GPA 2172 First optical spectrometer to achieve (Nov 2025) MARKET POTENTIAL DIGITAL VALUATION CONTINUES TO EXPAND DATA ANALYTICS MARKET GROWTH
// 14 COMPLETION & EOR Maximize Production Visibility Improve well completions or injections by measuring real-time variables from well flowback, providing data to eliminate engineering variables and improve future completion and injection designs. Production Surveillance CUSTODY TRANSFER & PROCESSING Monitoring & Blending Measure real-time composition and hydrocarbon quality (API gravity, distillation curve, heating value) that spot samples and GCs miss. PRODUCTION MEASUREMENT & ALLOCATION RVP and Vapor Recovery Unit Optimization Production monitoring, blending, and stabilization. Durable, fast, full-composition measurements let you optimize your crude, gas, and condensate value. Operational Uplift (1) U.S. EPA, *Information Collection Request Supporting Statement, EPA ICR No. 2548.01: Oil and Natural Gas Sector* (2016), p. 1: "almost 1.4 million producing oil and gas wells at approximately 698,800 well sites (onshore production facilities)." [epa.gov/.../oil-natural-gas-icr-supporting-statement-epa-icr-2548-01.pdf](https://www.epa.gov/sites/default/files/2016-11/documents/oil-natural-gas-icr-supporting-statement-epa-icr-2548-01.pdf) (2) Estimated assuming 30 wells per 1 Crude LACT unit and 1 Natural Gas Custody transfer location, does not include Pipeline interconnects or metering stations which are also potential locations. Estimated Mkt Size: 1.4MM Producing US Wells (1) Estimated Mkt Size: 698k US Well Pads (1) Estimated Mkt Size: 93k Active US CT Sites (2) OPERATIONAL UPLIFTPRODUCTION SURVEILLANCE ALLOCATION IMPROVEMENT Data Analytics: Digital Valuation Services & Markets CUSTOMERS CAN MAXIMIZE THEIR PRODUCTION VALUE AND OPERATIONAL EFFICIENCY
Chemistry Technologies: Market Growth // 15 • Strongest quarter of chemistry sales since 2017 • First time quarterly revenue under Chemistry Supply Agreement exceeds $50MM • 3Q26 International Chemistry revenue totaled $28.4MM, up more than 12X from year ago quarter • Convergence of Real-time Data and Chemistry to emerge as growth opportunity INTERNATIONAL GROWTH HELPS TO DIVERSIFY REVENUE $MM $27.0 $50.3 $20.2 $46.0 $- $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 3Q25 3Q26 Total Chemistry Revenue Related Party Revenue External Chem. Revenue $47.2 $96.3
$2.2 $28.4 $- $5 $10 $15 $20 $25 $30 3Q25 3Q26 International Revenue Chemistry Technologies: International Growth // 16 • International revenues were 25% of total 3Q26 revenue vs 4% in 3Q25 • Primary chemistry supplier for unconventional operations in Saudi Arabia • Extended supply operation supports activity through mid-2027 $MM INTERNATIONAL SALES EXPECTED TO REMAIN STRONG IN 4Q26
$2.50 $7.50 $12.50 $17.50 $22.50 $27.50 $32.50 $37.50 $42.50 // 17 Flotek Industries AN INDUSTRIALIZED PIVOT TO DATA DRIVEN GROWTH Flotek: Turnaround Story • Leadership: New Executive Team 2023: Common Stock +688%* through Sep 30th ‘26 • Growing Profits: 3Q26 YoY Adj. EBITDA** increased 87% • Proven Momentum: 3 Straight Years of Adjusted EBITDA** Growth The Convergence of Real-time Data & Chemistry • Cycle-Resistant Revenue: Long-term contracts help to mitigate commodity price volatility • Differentiated Tech: Innovative Data and Chemistry solutions deliver superior value • Market Opportunities: Expanded and Diversified Addressable Market Proprietary Tech Fuels Recurring, High-Margin Growth • PWRtek TM : Plan to expand fleet of gas conditioning and distribution equipment in 2027 • XSPCT TM : 2026 Winner of Product of the Year at Analyzer Tech Conference • VeraCal TM : 2nd EPA approval received further expanding flare monitoring opportunities *New CEO Announced: June 6, 2023 closing stock price: $3.72 compared to September 30, 2026 closing stock price: $29.32 **Adjusted EBITDA is a non-GAAP measure. See the Appendix in this presentation for a reconciliation to the most comparable GAAP measure. ***A non-GAAP measure. See the “Unaudited Reconciliation of Non-GAAP Items & Non-Cash Items Impacting Earnings” tables in the appendix for more information about this measure. We are unable to reconcile this forward-looking non-GAAP measure to the most directly comparable GAAP 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 measure, including, among other items, certain stock-based compensation costs and interest costs related to fluctuations in borrowings outstanding under the Company’s asset based loan and fluctuations in interest rates. These items do not impact the non-GAAP measure. $60.5 million reflects the mid-point of 2026 guidance as shown on slide 6 and does not add back expected non-cash amortization of contract assets totaling approx $9.3 million. 2023 2024 2025 688% 2026 $mm 2025 2026 Md Pt Revenue $237 $386*** Net Income Adj EBITDA** $30.5 $32.8 N/A*** $60.5*** $mm 12/31/25 9/30/26 Net Debt $37 $56.7 Leverage Ratio 1.1X 0.9X (a) Market Cap $519 $1,062 (a) Mid-point 2026 guidance Flotek Industries (FTK) Industry: Energy & Technology
// 18 INVEST: Houston 3rd Edition Leadership Summit November 5th 2026 JW Marriott Houston, TX Roth Technology Conference November 17-19th 2026 Hard Rock Hotel New York, NY DEP Permian BBQ November 10-11th 2026 Scharbauer Sports Complex Midland, TX DEP NY Executive Series December 3rd 2026 Nasdaq MarketSite New York, NY Investor Contact: Mike Critelli ir@flotekind.com Roth Deer Valley December 9-12th 2026 Park City, UT Upcoming 2026 Events JOIN US
Appendix
Case Study: Real-Time Field Gas Blending PWRTEK’S REAL-TIME MEASUREMENT AND BLENDING FIELD GAS SYSTEM VALUE STREAM ANNUAL IMPACT WHAT IT DELIVERS Fuel Cost Elimination $1.3M – $1.7M Switch from purchased pipeline gas/diesel to near-zero marginal cost field gas Maintenance Cycle Extension $0.6M – $1.6M Fewer knock events, stable combustion, longer overhaul intervals, less downtime Power & Efficiency Recovery $1.0M – $1.7M Higher output, reduced derating, optimized performance Emissions & ESG Value $0.2M – $0.5M Lower emissions and operator regulatory compliance credits TOTAL $3.1M – $5.5M 6x -10x CUSTOMER ROI Customer Challenge Large OFS Power producer was struggling with uptime and equipment failures when using field gas. Field gas often has extreme variability and contaminants that cause engine knock, derates, and downtime on conventional systems. Our Approach PWRtek’s real-time measurement technology, closed-loop blending and PID control can maintain optimal engine fuel quality for customers. This provides customers with safe real-time dynamic substitution of variable field gas while integrating with clients CNG for on-site power generation. Client Results During a severe gas quality disturbance, the platform-maintained target Methane Number (~66.3) with zero engine events and achieved >92% field gas substitution. It delivered $3.1M–$5.5M in annual value per 40 MW spread through fuel cost savings, efficiency gains, reduced maintenance, and ESG monetization. Client accomplished zero down-time over 14 days. // 20 OUTPUT FUEL (MN) BLENDING VALVE POSTION
Power Services Technology // 21 PATENTED TECHNOLOGY ENABLES SCALABLE, LOW COST, GRID-FREE ENERGY, & ENGINE PROTECTION City Gas CNG Field Gas Waste/Biogas Measure Control Distribute Reciprocating Engine Gas Turbine Engine Control Module BTU CH4 Number HHV LHV Wobbe Index H2S and CO2 Volume Density ESD Protection Liquids Separation Blending Scrubbing Durability Efficiency Smaller Footprint Emissions Pressure Temperature Plug N Play Redundancy Optimize Volume Diesel (Blending Substitute) Alternative Fuel Source Incumbent Fuel Source
// 22 Recent Financials Unaudited Condensed Consolidated Balance Sheets (in thousands, except per share data)
Recent Financials Unaudited Condensed Consolidated Statements of Operations (in thousands, except per share data) // 23
// 24 Recent Financials Unaudited Condensed Consolidated Statements of Cash Flows (in thousands)
// 25 1) Management believes that EBITDA and Adjusted EBITDA for the three and nine months ended September 30, 2026 and 2025 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. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the three months ended September 30, 2026 and 2025, respectively, and amortization of contract assets totaling $7.1 million and $4.2 million during the nine months ended September 30, 2026 and 2025, respectively. 2) Includes $4.4 million of expenses for the nine months ended September 30, 2025 related to an asset acquisition. Recent Financials Unaudited Reconciliation of Non-GAAP Items & Non-Cash Items Impacting Earnings (in thousands)(1)
// 26 1) Management believes that EBITDA and Adjusted EBITDA for the three months ended June 30, 2026 and three months ended March 31, 2026 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. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $2.2 million during the three months ended June 30, 2026 and three months ended March 31, 2026, respectively. Recent Financials Unaudited Reconciliation of Non-GAAP Items & Non-Cash Items Impacting Earnings (in thousands)(1)
// 27 1) Management believes that EBITDA and Adjusted EBITDA for the twelve months ended December 31, 2022, 2023, 2024 and 2025 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. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $3.4 million, $5.0 million, $5.6 million and $6.3 million for the years ended December 31, 2022, 2023, 2024 and 2025, respectively. 2) Includes $4.4 million of expenses related to an asset acquisition for the twelve months ended December 31, 2025. Recent Financials Unaudited Reconciliation of Non-GAAP Items & Non-Cash Items Impacting Earnings (in thousands)(1)