Flowco Holdings Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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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, 2025 · Filed Nov 5, 2025
FLOC$20.06+5.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024
| As of | ||||
|---|---|---|---|---|
| September 30,2025 · December 31, 2024 | ||||
| (in thousands except share and per share amounts) | ||||
| Assets | ||||
| Current assets: | ||||
| Cash and cash equivalents | $ | 7,235 | $ | 4,615 |
| Accounts receivable, net of allowances for credit losses of $1,870 and $1,169, respectively (Note 9) | 118,970 | 120,353 | ||
| Inventory | 159,290 | 151,179 | ||
| Prepaid expenses and other current assets | 7,668 | 9,982 | ||
| Total current assets | 293,163 | 286,129 | ||
| Property, plant and equipment, net | 801,139 | 702,616 | ||
| Operating lease right-of-use assets | 16,343 | 19,480 | ||
| Finance lease right-of-use assets | 27,365 | 21,871 | ||
| Intangible assets, net (Note 8) | 281,310 | 302,522 | ||
| Goodwill (Note 8) | 249,692 | 249,692 | ||
| Deferred tax asset | 11,507 | — | ||
| Other assets | 5,716 | 6,639 | ||
| Total assets | $ | 1,686,235 | $ | 1,588,949 |
| Liabilities, redeemable non-controlling interests and stockholders'/members' equity | ||||
| Current liabilities: | ||||
| Accounts payable | $ | 32,329 | $ | 31,321 |
| Accrued expenses | 35,597 | 33,829 | ||
| Current portion of operating lease obligations | 7,256 | 6,809 | ||
| Current portion of finance lease obligations | 13,214 | 7,837 | ||
| Deferred revenue | 12,538 | 8,002 | ||
| Total current liabilities | 100,934 | 87,798 | ||
| Long-term liabilities: | ||||
| Long-term debt, net | 222,628 | 635,916 | ||
| Tax receivable agreement liability | 19,791 | — | ||
| Operating lease obligations, net of current portion | 9,453 | 12,739 | ||
| Finance lease obligations, net of current portion | 12,135 | 13,389 | ||
| Total long-term liabilities | 264,007 | 662,044 | ||
| Total liabilities | 364,941 | 749,842 | ||
| Commitments and contingencies (Note 16) | ||||
| Redeemable non-controlling interests | 950,336 | — | ||
| Members' equity: | ||||
| Members' equity | — | 839,107 | ||
| Total members' equity | — | 839,107 | ||
| Stockholders' equity: | ||||
| Class A common stock, $0.0001 par value – 300,000,000 shares authorized; 28,255,895 shares issued and outstanding as of September 30, 2025; no such shares authorized, issued or outstanding as of December 31, 2024. | 3 | — | ||
| Class B common stock, $0.0001 par value – 150,000,000 shares authorized; 61,391,236 shares issued and outstanding as of September 30, 2025; no such shares authorized, issued or outstanding as of December 31, 2024. | 6 | — | ||
| Additional paid-in capital | 55,539 | — | ||
| Retained earnings | 315,410 | — | ||
| Total stockholders' equity to Flowco Holdings Inc. | 370,958 | — | ||
| Total liabilities, redeemable non-controlling interests and members'/stockholders' equity | $ | 1,686,235 | $ | 1,588,949 |
Condensed Consolidated Statements of Operations
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