Every 10-Q that NCS Multistage Holdings, Inc. (NCSM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NCSM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NCSM filings page.
NCS Multistage Holdings, Inc. reported Q2 2026 revenue of $38.4 million, up slightly year over year, but a net loss attributable to the company of $4.6 million versus a profit in 2025, reflecting higher SG&A and about $2.3 million of Weatherford merger-related costs.
Cash was $31.3 million with no ABL revolver borrowings and total debt comprised of finance leases of $7.5 million; operating cash flow for the first half was ($636 thousand). NCS agreed to be acquired by Weatherford, with each share to receive Weatherford stock or a cash-and-share mix under specified exchange ratios and termination fees up to $9.7 million. The company is contesting Canadian tax reassessments for NCS Canada of approximately CAD $19.3 million and CAD $8.1 million, and for STS Canada of about CAD $0.5 million, while continuing to pursue and defend patent litigation, all against a backdrop of one reportable segment focused on oil and natural gas well completion technologies.
NCS Multistage Holdings, Inc. reported lower activity and mixed results for the quarter ended March 31, 2026. Revenue declined to $45.6 million from $50.0 million, mainly due to weaker Canadian completions and timing-driven softness in international tracer diagnostics, partly offset by stronger U.S. sales, including Repeat Precision products and tracer services.
Higher-cost mix and lower volumes reduced gross margin to 38.1% from 42.3%. Net income was $1.7 million, but after a larger non‑controlling interest share, NCS recorded a net loss attributable to common shareholders of $0.4 million, or $(0.14) per diluted share, versus earnings of $1.51 a year earlier. Operating cash flow improved to $1.3 million, and the company ended the quarter with $34.5 million in cash and no borrowings on its $35 million asset‑based facility.
The company closed the purchase price allocation for its 2025 ResMetrics acquisition, which contributed $1.8 million of revenue but a small loss before tax. NCS also highlighted ongoing patent litigation outcomes and appeals, and disclosed Canadian federal and provincial income tax reassessments totaling about CAD $27.2 million including interest and penalties, which management is contesting without recording a liability.
NCS Multistage Holdings (NCSM) posted a solid Q3 2025 with revenue of $46.5 million compared with $44.0 million a year ago. Income from operations was $3.1 million, and net income attributable to NCS was $3.8 million, or $1.37 diluted EPS versus $1.60 last year.
For the first nine months, revenue reached $133.0 million (up from $117.6 million) and net income attributable to NCS rose to $8.8 million from $3.1 million. Operating cash flow was $9.0 million. NCS ended the quarter with $25.3 million in cash, $7.4 million of finance-lease debt, and no ABL borrowings; total equity was $127.1 million.
NCS acquired Reservoir Metrics (ResMetrics) on July 31, 2025 for total consideration of $7.1 million, including contingent consideration tied to tariff changes. ResMetrics contributed $2.2 million of revenue and $0.6 million of income before tax for the period ended September 30, 2025. In Canada patent matters, the Federal Court of Appeal set aside a prior injunction and reduced a costs award to approximately $0.9 million, remanding the case to the trial court.