Here are the 10-K annual reports from Natural Gas Services Group, Inc. (NGS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NGS 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 NGS filings page.
Natural Gas Services Group files its annual report describing 2025 operations, strategy and key risks. The company expanded rental fleet horsepower by about 11% to approximately 663,000 horsepower, driven mainly by 70 new large compressor units, which helped lift rental revenues roughly 14% to about $164 million.
In April 2025, it amended its senior secured revolving credit facility to increase total commitment to $400 million and expand an additional $100 million accordion while reducing interest rates and easing leverage covenants. The company also began paying quarterly dividends, starting at $0.10 per share and rising to $0.11 per share.
The report highlights heavy reliance on two major customers, Occidental Permian and Devon Energy, which together provided 59% of 2025 revenue and 62% of year-end accounts receivable, along with extensive discussion of regulatory, environmental, climate-related and financial risks that could affect future demand and profitability.