Nine Energy Service Inc
For the period ended Sep 30, 2024. Filed Oct 31, 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.
Sep 30, 2024 · Filed Oct 31, 2024
NINE$7.26+8.8%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 Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(32,239) | $(21,908) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities | ||
| Depreciation | 19,562 | 22,138 |
| Amortization of intangibles | 8,388 | 8,687 |
| Amortization of operating leases | 9,948 | 9,070 |
| Amortization of deferred financing costs | 5,592 | 5,685 |
| Provision for doubtful accounts | 457 | 333 |
| Provision for inventory obsolescence | 987 | 1,965 |
| Stock-based compensation expense | 2,225 | 1,591 |
| (Gain) loss on sale of property and equipment | 485 | (407) |
| Loss on revaluation of contingent liability | 191 | 412 |
| Changes in operating assets and liabilities | ||
| Accounts receivable, net | 8,251 | 19,841 |
| Inventories, net | (2,396) | 1,278 |
| Prepaid expenses and other current assets | 3,585 | 4,798 |
| Accounts payable and accrued expenses | (15,961) | (23,044) |
| Income taxes receivable/payable | (124) | (153) |
| Operating lease obligations | (9,813) | (8,934) |
| Other assets and liabilities | (931) | (167) |
| Net cash (used in) provided by operating activities | (1,793) | 21,185 |
| Cash flows from investing activities | ||
| Proceeds from sales of property and equipment | 352 | 530 |
| Proceeds from property and equipment casualty losses | — | 840 |
| Purchases of property and equipment | (11,528) | (16,085) |
| Net cash used in investing activities | (11,176) | (14,715) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock under ATM program | 8,249 | — |
| Proceeds from ABL Credit Facility | 3,000 | 40,000 |
| Payments on ABL Credit Facility | (10,000) | (15,000) |
| Proceeds from Units offering, net of discount | — | 279,750 |
| Redemption of 2023 Notes | — | (307,339) |
| Payments of short-term debt | (2,859) | (2,267) |
| Cost of debt issuance | — | (6,290) |
| Principal payments on finance leases | (40) | (197) |
| Payments of contingent liability | (466) | (251) |
| Vesting of restricted stock and stock units | — | (2) |
| Net cash used in financing activities | (2,116) | (11,596) |
| Impact of foreign currency exchange on cash | (103) | (160) |
| Net decrease in cash and cash equivalents | (15,188) | (5,286) |
| Cash and cash equivalents | ||
| Cash and cash equivalents beginning of period | $30,840 | $17,445 |
| Cash and cash equivalents end of period | $15,652 | $12,159 |
|---|---|---|
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $42,681 | $30,188 |
| Cash paid for income taxes | $487 | $560 |
| Cash paid for operating leases | $9,813 | $8,934 |
| Right of use assets obtained in exchange for operating lease obligations | $3,199 | $14,364 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Right of use assets obtained in exchange for finance lease obligations | $26 | $56 |
| Capital expenditures in accounts payable and accrued expenses | $1,229 | $3,507 |
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