Nine Energy Service Inc
For the period ended Jun 30, 2024. Filed Aug 6, 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 6, 2024
NINE$7.26+8.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income and Comprehensive Income (Loss)
(In thousands, except share and per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | ||||
| Service | $99,971 | $122,576 | $206,864 | $248,196 |
| Product | 32,430 | 38,852 | 67,657 | 76,640 |
| 132,401 | 161,428 | 274,521 | 324,836 | |
| Cost and expenses | ||||
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | ||||
| Service | 87,183 | 98,630 | 177,273 | 196,797 |
| Product | 24,865 | 28,812 | 50,781 | 57,763 |
| General and administrative expenses | 12,482 | 14,233 | 24,747 | 33,947 |
| Depreciation | 6,602 | 7,433 | 13,336 | 14,853 |
| Amortization of intangibles | 2,796 | 2,896 | 5,592 | 5,792 |
| (Gain) loss on revaluation of contingent liability | (118) | 211 | (192) | (81) |
| (Gain) loss on sale of property and equipment | 27 | (98) | 1 | (428) |
| Income (loss) from operations | (1,436) | 9,311 | 2,983 | 16,193 |
| Interest expense | 12,782 | 12,994 | 25,574 | 25,448 |
| Interest income | (154) | (299) | (464) | (484) |
| Other income | (162) | (162) | (324) | (324) |
| Loss before income taxes | (13,902) | (3,222) | (21,803) | (8,447) |
| Provision (benefit) for income taxes | 139 | (685) | 293 | 199 |
| Net loss | $(14,041) | $(2,537) | $(22,096) | $(8,646) |
| Loss per share | ||||
| Basic | $(0.40) | $(0.08) | $(0.64) | $(0.26) |
| Diluted | $(0.40) | $(0.08) | $(0.64) | $(0.26) |
| Weighted average shares outstanding | ||||
| Basic | 35,477,154 | 33,293,740 | 34,663,736 | 32,801,783 |
| Diluted | 35,477,154 | 33,293,740 | 34,663,736 | 32,801,783 |
| Other comprehensive loss, net of tax | ||||
| Foreign currency translation adjustments, net of $0 tax in each period | $53 | $(54) | $(157) | $(222) |
| Total other comprehensive gain (loss), net of tax | 53 | (54) | (157) | (222) |
| Total comprehensive loss | $(13,988) | $(2,591) | $(22,253) | $(8,868) |
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