NATURAL GAS SERVICES GROUP INC
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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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.
Sep 30, 2024 · Filed Nov 14, 2024
NGS$28.74-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
| NATURAL GAS SERVICES GROUP, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) | ||
|---|---|---|
| Nine months ended | ||
| September 30, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $14,362 | $3,045 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 22,878 | 19,390 |
| Amortization of debt issuance costs | 530 | 287 |
| Deferred income tax expense | 4,055 | 1,408 |
| Stock-based compensation | 1,038 | 1,826 |
| Provision for credit losses | 433 | 199 |
| Impairments | 136 | 779 |
| Gain on sale of assets | (475) | (281) |
| Retirement of rental equipment | 5 | — |
| Gain on company owned life insurance | (152) | 49 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivables | 13,944 | (13,572) |
| Inventory | 1,122 | (2,608) |
| Prepaid expenses and prepaid income taxes | (1,025) | (281) |
| Accounts payable and accrued liabilities | 1,271 | 14,951 |
| Deferred revenue | (418) | (37) |
| Other | (667) | 543 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 57,037 | 25,698 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of rental equipment, property and other equipment | (57,350) | (128,563) |
| Purchase of company owned life insurance | (13) | (378) |
| Proceeds from sale of property and equipment | 504 | 231 |
| Proceeds from surrender of company owned life insurance | 178 | — |
| NET CASH USED IN INVESTING ACTIVITIES | (56,681) | (128,710) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from credit facility borrowings | 8,000 | 103,000 |
| Repayment of credit facility borrowings | (9,000) | — |
| Payments of other long-term liabilities, net | (622) | (50) |
| Payments of debt issuance costs | (962) | (2,131) |
| Proceeds from exercise of stock options | 70 | — |
| Taxes paid related to net share settlement of equity awards | (178) | (982) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (2,692) | 99,837 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (2,336) | (3,175) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 2,746 | 3,372 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $410 | $197 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Interest paid | $14,445 | $4,347 |
| NON-CASH TRANSACTIONS | ||
| Transfer of rental equipment to inventory | $— | $708 |
| Right of use assets acquired through a finance lease | $2,174 | $63 |
| Right of use asset acquired through an operating lease | $520 | $— |
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