NATURAL GAS SERVICES GROUP INC
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
NGS$28.74-1.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows F-6
| NATURAL GAS SERVICES GROUP, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) | |||
|---|---|---|---|
| Year Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $17,227 | $4,747 | $(569) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 31,347 | 26,550 | 24,116 |
| Impairments | 841 | 779 | — |
| Inventory allowance | 1,863 | 3,965 | 83 |
| Retirement of rental equipment | 28 | 505 | 196 |
| Gain on the sale of property and equipment, net | (430) | (481) | (250) |
| Amortization of debt issuance costs | 746 | 425 | 48 |
| Deferred income taxes | 4,237 | 1,838 | 511 |
| Stock-based compensation | 1,821 | 2,054 | 1,910 |
| Provision for credit losses | 433 | 492 | — |
| (Gain) loss on company owned life insurance | (156) | 235 | 389 |
| Changes in operating assets and liabilities: | |||
| Trade accounts receivables | 23,127 | (25,010) | (4,279) |
| Inventory | 2,477 | (669) | (4,143) |
| Prepaid expenses and prepaid income taxes | 152 | (7) | (250) |
| Accounts payable and accrued liabilities | (17,727) | 2,436 | 10,033 |
| Other | 477 | 174 | (31) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 66,463 | 18,033 | 27,764 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of rental equipment, property and other equipment | (71,894) | (153,943) | (65,122) |
| Purchase of company owned life insurance, net | (22) | (422) | (329) |
| Proceeds from sale of property and equipment | 476 | 477 | 372 |
| NET CASH USED IN INVESTING ACTIVITIES | (71,440) | (153,888) | (65,079) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from credit facility borrowings | 28,000 | 139,000 | 25,000 |
| Repayments of credit facility borrowings | (22,000) | — | — |
| Payments of other long term liabilities | (780) | (95) | (3) |
| Payments of debt issuance costs | (962) | (2,693) | (77) |
| Proceeds from exercise of stock options | 293 | — | — |
| Purchase of treasury shares | — | — | (6,660) |
| Taxes paid related to net share settlement of equity awards | (178) | (983) | (515) |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 4,373 | 135,229 | 17,745 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (604) | (626) | (19,570) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 2,746 | 3,372 | 22,942 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $2,142 | $2,746 | $3,372 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest paid | $18,394 | $7,053 | $276 |
| Income taxes paid | $— | — | — |
| NON-CASH TRANSACTIONS: | |||
| Transfer of rental equipment to inventory | $51 | $665 | $— |
| Transfer of right of use assets to property and equipment | $2,641 | — | — |
| Accrued purchases of property and equipment | $2,687 | — | — |
| Right of use asset acquired through a finance lease | $2,174 | $1,146 | $— |
| Right of use asset acquired through an operating lease | $563 | $63 | $229 |
F - 6
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