Welcome to our dedicated page for TEAM SEC filings (Ticker: TISI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Team, Inc. filings document a specialty industrial services issuer with NYSE-listed common stock and disclosure focused on operating results, governance and capital structure. Form 8-K reports furnish quarterly financial results and describe material events, including executive separation arrangements, board appointments, committee assignments and changes in director compensation.
TEAM’s regulatory record also includes definitive proxy materials covering annual meeting matters, director elections, executive compensation and pay-versus-performance tables. Capital-structure filings describe material definitive agreements, Series B Preferred Stock, warrants to purchase common stock and related shareholder-agreement terms tied to the company’s financing activity.
Team, Inc. reported consolidated revenue of $248.0 million for the quarter ended June 30, 2025, up 8.5% from $228.6 million a year earlier, driven by a 15.2% increase in its Inspection and Heat Treating (IHT) segment and modest growth in Mechanical Services (MS). Operating income was $12.1 million for the quarter (versus $11.2 million prior-year), and consolidated adjusted EBITDA rose to $24.5 million from $21.8 million, showing improved operating performance when excluding identified non-core items.
Despite revenue gains, the company reported a net loss of $4.3 million for the quarter and a year-to-date net loss of $34.0 million, reflecting higher non-operating charges including $11.9 million loss on debt extinguishment recorded in the six months. Total long-term debt and finance lease obligations were $370.2 million as of June 30, 2025. Liquidity included $16.6 million unrestricted cash and approximately $32.7 million available borrowing capacity, and management stated covenant compliance as of that date.
Team Inc (TISI) has filed an 8-K/A to correct a significant error in their previous filing regarding the voting results from their June 18, 2025 Annual Meeting. The amendment addresses two key issues:
The company initially reported that shareholders had approved a Charter Amendment to modify Article VII, Section 5 regarding director removal provisions. However, this was incorrect - the proposal did not receive the required two-thirds majority vote and was therefore not approved.
Key actions taken:
- On June 24, 2025, Team filed a Certificate of Correction with Delaware Secretary of State to nullify the previously filed Charter Amendment
- The company's original Amended and Restated Certificate of Incorporation (from 2011, with amendments from 2013 and 2022) remains in effect
- The correction means no changes were made to the provisions specifying when "cause" exists for director removal
Team CFO Nelson M. Haight reported significant stock transactions on June 21, 2025. The filing reveals two key transactions:
- Acquisition of 8,720 shares of common stock at $0 through the conversion of derivative securities (Transaction Code: M)
- Disposition of 3,179 shares of common stock at $0, likely for tax withholding purposes (Transaction Code: F)
Following these transactions, Haight directly owns 30,530 shares of Team common stock. The transactions occurred at the company's Sugar Land, TX headquarters. This Form 4 filing, submitted on June 23, 2025, reflects changes in the CFO's beneficial ownership position and complies with SEC Section 16(a) reporting requirements.