FORUM ENERGY TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Aug 2, 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.
Jun 30, 2024 · Filed Aug 2, 2024
FET$72.08+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed consolidated statements of comprehensive loss
Condensed Consolidated Statements of Comprehensive Income (Loss)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except per share information) | 2024 | 2023 | 2024 | 2023 |
| Revenue | $205,209 | $185,449 | $407,601 | $374,406 |
| Cost of sales | 142,136 | 134,143 | 280,769 | 270,998 |
| Gross profit | 63,073 | 51,306 | 126,832 | 103,408 |
| Operating expenses | ||||
| Selling, general and administrative expenses | 53,691 | 44,357 | 108,357 | 89,868 |
| Transaction expenses | 1,228 | — | 7,149 | — |
| Loss on disposal of assets and other | 220 | 542 | 192 | 282 |
| Total operating expenses | 55,139 | 44,899 | 115,698 | 90,150 |
| Operating income | 7,934 | 6,407 | 11,134 | 13,258 |
| Other expense | ||||
| Interest expense | 8,659 | 4,689 | 17,419 | 9,238 |
| Foreign exchange losses and other, net | 3,006 | 6,436 | 4,233 | 9,408 |
| Loss on extinguishment of debt | 463 | — | 463 | — |
| Total other expense | 12,128 | 11,125 | 22,115 | 18,646 |
| Loss before income taxes | (4,194) | (4,718) | (10,981) | (5,388) |
| Income tax expense | 2,502 | 1,861 | 6,030 | 4,677 |
| Net loss | $(6,696) | $(6,579) | $(17,011) | $(10,065) |
| Weighted average shares outstanding | ||||
| Basic | 12,330 | 10,210 | 12,266 | 10,195 |
| Diluted | 12,330 | 10,210 | 12,266 | 10,195 |
| Loss per share | ||||
| Basic | $(0.54) | $(0.64) | $(1.39) | $(0.99) |
| Diluted | $(0.54) | $(0.64) | $(1.39) | $(0.99) |
| Other comprehensive income (loss), net of tax of $0: | ||||
| Net loss | $(6,696) | $(6,579) | $(17,011) | $(10,065) |
| Change in foreign currency translation | 621 | 7,749 | (183) | 11,907 |
| Gain (loss) on pension liability | (5) | 6 | (20) | 21 |
| Comprehensive income (loss) | $(6,080) | $1,176 | $(17,214) | $1,863 |
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