TEAM INC

For the period ended Jun 30, 2026. Filed Aug 10, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 10, 2026

TISI$21.41+0.1%Stored close · as of Nov 9, 2026

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Contents

Financial Statements

PART I—FINANCIAL INFORMATION

ITEM 1.	FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

	June 30, 2026	December 31, 2025
ASSETS · (unaudited)
Current assets:
Cash and cash equivalents	$25,984	$18,145
Accounts receivable, net of allowance of $4,697 and $4,585, respectively	193,798	177,884
Inventory	42,411	41,384
Income tax receivable	189	1,042
Prepaid expenses and other current assets	28,801	27,950
Total current assets	291,183	266,405
Property, plant and equipment, net	106,495	110,628
Intangible assets, net	31,591	37,849
Operating lease right-of-use assets	47,345	49,849
Defined benefit pension asset	5,285	5,144
Other assets, net	14,206	14,044
Deferred tax asset	2,656	1,534
Total assets	$498,761	$485,453
LIABILITIES, REDEEMABLE PREFERRED STOCK AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Current portion of long-term debt and finance lease obligations	$4,070	$3,858
Current portion of operating lease obligations	16,777	16,476
Accounts payable	38,429	42,010
Other accrued liabilities	65,574	56,724
Income tax payable	2,106	987
Total current liabilities	126,956	120,055
Long-term debt and finance lease obligations	322,201	293,343
Operating lease obligations	32,970	35,910
Deferred tax liabilities	4,595	4,984
Other long-term liabilities	3,902	3,691
Total liabilities	490,624	457,983
Commitments and contingencies
Redeemable preferred stock, par value $100.00 per share, 75,000 shares issued and outstanding at June 30, 2026 and December 31, 2025	57,838	51,951
Shareholders’ equity (deficit):
Preferred stock, 500,000 shares authorized, 75,000 shares (included in redeemable preferred stock) issued and outstanding at June 30, 2026 and December 31, 2025	—	—
Common stock, par value $0.30 per share, 12,000,000 shares authorized; 4,571,382 and 4,532,240 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,371	1,360
Additional paid-in capital	471,036	475,829
Accumulated deficit	(483,022)	(464,877)
Accumulated other comprehensive loss	(39,086)	(36,793)
Total shareholders’ equity (deficit)	(49,701)	(24,481)
Total liabilities, redeemable preferred stock and shareholders’ equity (deficit)	$498,761	$485,453

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.