FORUM ENERGY TECHNOLOGIES, INC.
For the period ended Sep 30, 2025. Filed Oct 31, 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 Oct 31, 2025
FET$72.08+1.1%Stored close · as of Nov 10, 2026
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Condensed consolidated statements of cash flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Cash flows from operating activities | ||
| Net loss | $(11,732) | $(31,826) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation expense | 10,547 | 12,660 |
| Amortization of intangible assets | 15,367 | 28,896 |
| Impairment of property and equipment and other assets | 4,406 | — |
| Inventory write-down | 17,407 | 3,313 |
| Stock-based compensation expense | 6,371 | 5,180 |
| Deferred income taxes | (3,264) | (3,180) |
| Gain on sale-leaseback transactions | (11,182) | — |
| Loss on extinguishment of debt | — | 2,302 |
| Other | 1,485 | 5,572 |
| Changes in operating assets and liabilities | ||
| Accounts receivable—trade | 9,812 | 7,619 |
| Inventories | 4,158 | 23,441 |
| Prepaid expenses and other current assets | 2,761 | 4,572 |
| Cost and estimated profit in excess of billings | (4,434) | (2,766) |
| Accounts payable, deferred revenue and other accrued liabilities | (213) | (2,499) |
| Billings in excess of costs and profits recognized | 6,476 | 391 |
| Net cash provided by operating activities | 47,965 | 53,675 |
| Cash flows from investing activities | ||
| Capital expenditures for property and equipment | (4,453) | (5,735) |
| Proceeds from sale of property and equipment | 163 | 236 |
| Proceeds from sale-leaseback transactions | 14,574 | — |
| Payments related to business acquisition, net of cash acquired | — | (150,408) |
| Net cash provided by (used in) investing activities | 10,284 | (155,907) |
| Cash flows from financing activities | ||
| Borrowings on Credit Facility | 398,746 | 568,293 |
| Repayments on Credit Facility | (446,353) | (459,250) |
| Cash paid to repurchase 2025 Notes | — | (72,996) |
| Proceeds from issuance of Seller Term Loan | — | 59,677 |
| Payment of Seller Term Loan | — | (1,250) |
| Payment of capital lease obligations | (1,413) | (887) |
| Deferred financing costs | (914) | (3,070) |
| Repurchases of stock | (21,120) | — |
| Payment of withheld taxes on stock-based compensation plans | (1,321) | (1,090) |
| Net cash provided by (used in) financing activities | (72,375) | 89,427 |
| Effect of exchange rate changes on cash | 1,158 | (47) |
| Net decrease in cash, cash equivalents and restricted cash | (12,968) | (12,852) |
| Cash, cash equivalents and restricted cash at beginning of period | 44,661 | 46,165 |
| Cash, cash equivalents and restricted cash at end of period | $31,693 | $33,313 |
Condensed Consolidated Statements of Cash Flows (Continued)
| Nine Months Ended September 30, | ||
| (in thousands) | 2025 | 2024 |
|---|
| Supplemental cash flow disclosures | ||
|---|---|---|
| Cash paid for interest | $10,681 | $19,791 |
| Cash paid for income taxes | 22,064 | 18,762 |
| Noncash activities | ||
| Operating lease assets obtained in exchange for lease obligations | $17,132 | $6,574 |
| Finance lease assets obtained in exchange for lease obligations | 1,033 | 2,032 |
| Accrued purchases of property and equipment | 91 | 1,225 |
| Stock issuance related to business acquisition | — | 44,220 |
| Liability awards converted to shares settled | — | 337 |
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