Open the filing on EDGARFlotek Delivers Quarterly Revenue Above $100 Million, Achieving Twelve-Year High, and Increases Guidance Again
HOUSTON, November 3, 2026 - Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced third quarter 2026 revenue of $114.4 million, reaching its highest quarterly revenue level in twelve years. The Company’s results reflect broad-based growth across its Data Analytics and Chemistry Technologies segments, with total revenue increasing 104% year over year. Based on the Company's strong year-to-date performance and its outlook for the fourth quarter, Flotek also increased its full-year 2026 guidance.
A summary of key financial metrics is as follows (in thousands, except ‘per share’ amounts):
| Three Months Ended September 30, | Nine Months Ended September 30, |
|---|
| 2026 | 2025 | % Change | 2026 | 2025 | % Change |
|---|
| Total Revenues | $114,352 | | $56,031 | | 104% | $283,770 | | $169,743 | | 67% |
| Gross Profit | $27,395 | | $17,783 | | 54% | $66,719 | | $44,639 | | 49% |
| Net Income | $13,306 | | $20,355 | | (35)% | $27,923 | | $27,503 | | 2% |
| Diluted Income Per Share | $0.34 | | $0.53 | | (36)% | $0.72 | | $0.78 | | (8)% |
| Adjusted EBITDA | $19,523 | | $10,427 | | 87% | $45,404 | | $24,743 | | 84% |
Third Quarter 2026 Highlights
- Total revenue reached $114.4 million, more than doubling from the year-ago quarter
- Data Analytics revenue increased 104% as compared to third quarter 2025
- International Chemistry revenue grew to $28.4 million accounting for 25% of total revenue
- Revenue, net income and Adjusted EBITDA have grown in every quarter of 2026
- Term loan closed in September expected to fund expanded Data Analytics capital plan
2026 Guidance Update
Based on year-to-date results and the Company’s current expectations, Flotek is increasing its guidance metrics for 2026 as follows (in millions):
| Metric | Previous | Current |
| Total Revenues | $360-$370 | $382-$390 |
| Adjusted EBITDA | $50-$54 | $59-$62 |
Data Analytics Capital Investment Plan
The Company expects capital expenditures in 2027 to total between $15 million and $20 million. Funding is expected to include a portion of the proceeds from the Company’s recently closed Term Loan.
The capital investment plan is expected to support the continued expansion of the Data Analytics segment, with investments focused on the following priorities:
- Expanding the Company’s inventory of proprietary measurement instruments;
- Growing the fleet of near real-time gas conditioning and distribution equipment; and
- Enhancing existing manufacturing capacity to support continued segment scaling.
Management Commentary
Chief Executive Officer Dr. Ryan Ezell commented, "With our third quarter results, we have now achieved growth in revenue, net income and Adjusted EBITDA in every quarter this year. Both segments generated strong year-over-year growth, with total quarterly revenue reaching its highest level since the third quarter of 2014. Data Analytics continues to provide strong profit contribution as the segment generated 45% of total Company gross profit on only 16% of total revenue. Our Chemistry segment’s international sales increased by $26 million from the year-ago quarter, while related party chemistry revenue exceeded $50 million in a quarter for the first time in the history of our chemistry supply agreement.
Our third-quarter performance reflects consistent execution of our corporate strategy and further validates Flotek’s industrialized pivot into a data-driven technology leader. We believe the debt financing completed in September provides the capital needed to expand our Data Analytics asset base, which we expect will support high-margin revenue growth in 2027. Our 2027 capital investment plan is expected to exceed our cumulative capital expenditures over the past several years as we pursue opportunities to expand the application of our technologies beyond the oil and gas industry. We believe our real-time measurement solutions are well positioned to help address the rapidly growing demand for behind-the-meter power generation and other differentiated industrial and infrastructure applications.”
Third Quarter 2026 Financial Results
- Revenue: Flotek reported total revenues of $114.4 million for the third quarter of 2026, an increase of 104% compared to total revenues of $56 million for the third quarter of 2025.
Both Chemistry and Data Analytics segment revenues increased 104% as compared to the 2025 quarter. International Chemistry revenue totaled $28.4 million during the third quarter, as compared to $2.2 million in the year-ago period, reflecting the Company’s ongoing work in the Middle East.
Related party Chemistry revenue increased 87% from the year-ago quarter, marking the first time since the inception of the Company's long-term supply agreement with ProFrac Services LLC that quarterly revenues exceeded $50 million. Revenue related to the minimum purchase requirements (the “Minimum Purchase Requirements”) under the long-term supply agreement totaled $0.9 million and $8.7 million, during the third quarters of 2026 and 2025, respectively. The reduction in revenue related to the Minimum Purchase Requirements during the current quarter was due to the significant increase in related party Chemistry revenue versus the year-ago quarter.
Segment Revenue Summary (in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, |
|---|
| 2026 | 2025 | % Change | 2026 | 2025 | % Change |
|---|
| Chemistry Technologies: | | | | | | |
| External Revenues | $45,962 | | $20,221 | | 127% | $91,818 | | $64,773 | | 42% |
| Related Party Revenues | 50,335 | | 26,956 | | 87% | 144,347 | | 87,562 | | 65% |
| Total | $96,297 | | $47,177 | | 104% | $236,165 | | $152,335 | | 55% |
| Data Analytics: | | | | | | |
| Product Revenues | $3,856 | | $1,694 | | 128% | $10,887 | | $5,176 | | 110% |
| Service Revenues | 14,199 | | 7,160 | | 98% | 36,718 | | 12,232 | | 200% |
| Total | $18,055 | | $8,854 | | 104% | $47,605 | | $17,408 | | 173% |
- Gross Profit: The Company generated gross profit of $27.4 million during the third quarter of 2026, or 24% of revenue, compared to $17.8 million during the third quarter of 2025, or 32% of revenue. The decline in gross profit as a percentage of revenue was primarily the result of the $7.8 million decline in current quarter revenue related to the Minimum Purchase Requirements, which does not have any associated cost.
- Selling, General and Administrative (“SG&A”) Expense: SG&A expense totaled $8.5 million for the third quarter of 2026, or 7% of revenue, compared to $7.4 million during the third quarter of 2025, or 13% of revenue. The increase in current quarter SG&A expense was primarily the result of higher non-cash stock compensation costs and increased costs related to the Company’s annual bonus plan.
- Net Income and EPS: Flotek reported net income of $13.3 million, or $0.34 per diluted share, for the third quarter of 2026. This compares to net income of $20.4 million, or $0.53 per diluted share, for the third quarter of 2025. Third quarter 2025 net income included a $12.6 million non-cash tax benefit related to the partial release of the Company’s valuation allowance on deferred tax assets.
- Adjusted EBITDA (Non-GAAP): Adjusted EBITDA totaled $19.5 million in the third quarter of 2026 as compared to $10.4 million in the third quarter of 2025. Adjusted EBITDA calculations for the third quarter and nine-month periods of 2026 and 2025 do not add back non-cash amortization of contract assets totaling $2.4 million, $1.3 million, $7.1 million and $4.2 million, respectively.
(1)A non-GAAP financial measure. See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release for more information about this measure, including a reconciliation to net income, the most comparable GAAP measure. Calculations do not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the third quarters of 2026 and 2025, respectively, and $7.1 million and $4.2 million during the nine months ended September 30, 2026 and 2025, respectively.
(2)A non-GAAP financial measure. See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release for more information about this measure. We are unable to reconcile this forward-looking non-GAAP financial measure to net income, the most directly comparable GAAP financial measure, without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would be expected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs, and interest costs related to fluctuations in borrowings under the Company’s asset based loan and fluctuations in interest rates. These items do not impact the non-GAAP financial measure. Guidance does not add back non-cash amortization of contract assets estimated to total approximately $9.3 million during full-year 2026.
Conference Call Details
The Company plans to host its earnings conference call on Wednesday, November 4, 2026, at 9:00 a.m. CST (10:00 a.m. EST).
Participants may access the call through Flotek’s website at https://ir.flotekind.com/events, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/KaD61d81pgX approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company’s website.
About Flotek Industries, Inc.
Flotek Industries, Inc. is a global technology-driven company that combines the synergy of proprietary technologies through near real-time data analytics and advanced chemistry to collaboratively address complex challenges for energy, industrial and infrastructure sector customers and help them optimize operations, enhance asset performance and maximize financial returns.
Leveraging a portfolio of more than 130 patents, over two decades of field and laboratory data, and a global presence in more than 59 countries, Flotek delivers innovative, data-driven solutions designed to create measurable value across the energy and infrastructure lifecycle.
Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit www.flotekind.com.
Forward-Looking Statements
Forward-looking statements notice
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates, may, could, should, target, forecast, project, potential and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. These statements include, without limitation, statements regarding the Company's financial guidance and outlook, including anticipated revenues and Adjusted EBITDA; the amount, timing and funding of the Company’s Data Analytics capital investment plan and the expected benefits thereof; anticipated revenues under the Company’s long-term contracts, including the long-term supply agreement with ProFrac Services, LLC and the Minimum Purchase Requirements thereunder; the total term of such contracts and the likelihood of their extension, renewal or early termination; the timing of the scaling and deployment of equipment; the total power capacity and operating performance of equipment once deployed; the Company’s ability to perform under and satisfy the terms and conditions of its contracts; the expansion of the Company’s technologies into new markets and applications, including behind-the-meter power generation and other industrial and infrastructure applications; and the expected growth of the Company’s international operations. Factors that could cause actual results to differ materially from anticipated results include, without limitation: the Company’s dependence on ProFrac Services, LLC, a related party, for a significant portion of its revenue, and the effect of changes in ProFrac’s activity levels, financial condition or purchasing decisions; the Company’s indebtedness, including its term loan and asset-based loan, and its ability to comply with the covenants and other restrictions thereunder; the Company’s ability to execute its capital investment plan on budget and on schedule; demand for and pricing of the Company’s products and services, which are affected by oil and natural gas prices and drilling and completion activity; the Company’s ability to successfully commercialize its technologies outside of oil and gas; risks associated with international operations, including in the Middle East; the outcome of the pending shareholder litigation described in the Company’s filings with the Securities and Exchange Commission and any other investigations or legal proceedings; and risks related to the Company’s projects that are outside the Company's control, including, without limitation, securing fuel supply, international logistics, obtaining permits and governmental approvals, satisfying bonding, performance security and financing requirements, third-party equipment delivery, construction execution and scheduling, meeting execution deadlines and integrating systems, actions taken by governmental, regulatory or oversight authorities, changes in government policy, tariffs and trade restrictions, political and regulatory developments, geopolitical instability or armed conflicts, and severe weather events. Further information about the risks and uncertainties that may impact the Company is set forth in the Company’s most recent filings with the Securities and Exchange Commission on Form 10-K, Form 10-Q and Form 8-K (including, without limitation, in the "Risk Factors" sections thereof), and in the Company’s other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
| September 30, 2026 | December 31, 2025 |
|---|
| ASSETS | | |
| Current assets: | | |
| Cash and cash equivalents | $21,275 | $5,731 |
| Restricted cash | 105 | 104 |
| Accounts receivable, net of allowance for credit losses of $1,109 and $764 at September 30, 2026 and December 31, 2025, respectively | 66,015 | 19,043 |
| Accounts receivable, related party, net of allowance for credit losses of $0 at September 30, 2026 and December 31, 2025 | 72,621 | 64,204 |
| Equipment credit, related party | 8,230 | - |
| Inventories, net | 33,722 | 10,629 |
| Other current assets | 1,963 | 3,445 |
| Current contract asset | 9,185 | 7,621 |
| Total current assets | 213,116 | 110,777 |
| Long-term contract asset | 46,479 | 55,115 |
| Property and equipment, net | 24,541 | 20,344 |
| Right-of-use assets | 3,094 | 3,083 |
| Deferred tax assets, net | 22,372 | 29,152 |
| Other long-term assets | 1,509 | 1,578 |
| TOTAL ASSETS | $311,111 | $220,049 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | | |
| Current liabilities: | | |
| Accounts payable | $74,485 | $48,317 |
| Accrued liabilities | 6,903 | 7,256 |
| Income taxes payable | 1,293 | 258 |
| Interest payable | 151 | - |
| Interest payable, related party | - | 1,008 |
| Current portion of operating lease liabilities | 1,574 | 1,251 |
| Current portion of finance lease liabilities | 164 | 153 |
| Asset-based loan | 7,933 | 3,332 |
| Total current liabilities | 92,503 | 61,575 |
| Deferred revenue, long-term | 51 | - |
| Term loan facility, net of deferred financing costs, including $11,671 held by related party, net of deferred financing costs | 70,028 | - |
| Note payable - related party, net of deferred financing costs | - | 39,584 |
| Long-term operating lease liabilities | 4,912 | 5,608 |
| Long-term finance lease liabilities | 100 | 224 |
| TOTAL LIABILITIES | 167,594 | 106,991 |
| Commitments and contingencies | | |
| Stockholders’ equity: | | |
| Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding | - | - |
| Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,440,565 shares issued and 36,218,789 shares outstanding at September 30, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025 | 4 | 3 |
| Additional paid-in capital | 438,129 | 434,964 |
| Accumulated other comprehensive income | 155 | 96 |
| Accumulated deficit | (257,857) | (285,780) |
| Treasury stock, at cost; 1,221,776 and 1,190,480 shares at September 30, 2026 and December 31, 2025, respectively | (36,914) | (36,225) |
| Total stockholders’ equity | 143,517 | 113,058 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $311,111 | $220,049 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, |
|---|
| 2026 | 2025 | 2026 | 2025 |
|---|
| Revenue: | | | | |
| Revenue from external customers | $56,942 | | $22,941 | | $118,332 | | $72,546 | |
| Revenue from related party | 57,410 | | 33,090 | | 165,438 | | 97,197 | |
| Total revenues | 114,352 | | 56,031 | | 283,770 | | 169,743 | |
| Cost of goods sold | 86,957 | | 38,248 | | 217,051 | | 125,104 | |
| Gross profit | 27,395 | | 17,783 | | 66,719 | | 44,639 | |
| Operating costs and expenses: | | | | |
| Selling, general, and administrative | 8,511 | | 7,384 | | 23,172 | | 20,462 | |
| Asset acquisition expenses | - | | 167 | | - | | 4,362 | |
| Depreciation | 666 | | 581 | | 1,961 | | 1,207 | |
| Research and development | 473 | | 549 | | 1,366 | | 1,359 | |
| Gain on sale of property and equipment | (208) | | - | | (208) | | (7) | |
| Total operating costs and expenses | 9,442 | | 8,681 | | 26,291 | | 27,383 | |
| Income from operations | 17,953 | | 9,102 | | 40,428 | | 17,256 | |
| Other income (expense): | | | | |
| Interest expense | (1,416) | | (1,351) | | (4,119) | | (2,563) | |
| Loss on extinguishment of debt | (242) | | - | | (242) | | - | |
| Other income, net | 59 | | (8) | | 94 | | 279 | |
| Total other expense | (1,599) | | (1,359) | | (4,267) | | (2,284) | |
| Income before income taxes | 16,354 | | 7,743 | | 36,161 | | 14,972 | |
| Income tax (expense) benefit | (3,048) | | 12,612 | | (8,238) | | 12,531 | |
| Net income | $13,306 | | $20,355 | | $27,923 | | $27,503 | |
| Income per common share: | | | |
| Basic | $0.37 | | $0.57 | | $0.77 | | $0.83 | |
| Diluted | $0.34 | | $0.53 | | $0.72 | | $0.78 | |
| Weighted average common shares: | | | | |
| Weighted average common shares used in computing basic income per common share | 36,174 | | 35,868 | | 36,142 | | 33,189 | |
| Weighted average common shares used in computing diluted income per common share | 38,684 | | 38,137 | | 38,522 | | 35,420 | |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, |
|---|
| 2026 | 2025 |
|---|
| Cash flows from operating activities: | | |
| Net income | $27,923 | | $27,503 | |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | | |
| Change in fair value of contingent consideration | - | | (127) | |
| Amortization of contract assets | 7,072 | | 4,210 | |
| Depreciation | 1,961 | | 1,207 | |
| Amortization of deferred financing costs | 257 | | 252 | |
| Loss on extinguishment of debt | 242 | | - | |
| Provision for credit losses, net of recoveries | 383 | | 555 | |
| Provision for excess and obsolete inventory | 1,172 | | 307 | |
| Gain on sale of property and equipment | (208) | | (7) | |
| Non-cash lease expense | 587 | | 840 | |
| Stock compensation expense | 3,020 | | 1,706 | |
| Deferred income tax expense (benefit) | 6,780 | | (12,773) | |
| Changes in current assets and liabilities: | | |
| Accounts receivable | (47,355) | | (9,936) | |
| Accounts receivable, related party | (21,396) | | (10,013) | |
| Inventories | (23,764) | | 462 | |
| Income tax receivable | 32 | | (32) | |
| Other assets | 1,379 | | 724 | |
| Accounts payable | 26,168 | | (3,000) | |
| Accrued liabilities | (302) | | (874) | |
| Operating lease liabilities | (971) | | (1,204) | |
| Income taxes payable | 1,035 | | 149 | |
| Interest payable | 151 | | - | |
| Interest payable, related party | (1,008) | | 1,008 | |
| Net cash (used in) provided by operating activities | (16,842) | | 957 | |
| Cash flows from investing activities: | | |
| Capital expenditures | (1,702) | | (1,697) | |
| Proceeds from sale of assets | - | | 7 | |
| Net cash used in investing activities | (1,702) | | (1,690) | |
| Cash flows from financing activities: | | |
| Proceeds from term loan facility | 62,500 | | - | |
| Term loan facility issuance cost | (4,875) | | - | |
| Payment of related party note payable | (27,500) | | - | |
| Payments on long term debt | - | | (60) | |
| Proceeds from asset-based loan | 199,310 | | 147,000 | |
| Payments on asset-based loan | (194,709) | | (145,127) | |
| Payment of asset-based loan origination costs | (40) | | (150) | |
| Payment of note payable issuance costs | - | | (480) | |
| Payment of stock warrant issuance costs | - | | (653) | |
| Proceeds from exercise of April 2025 Warrant | 1 | | - | |
| Payments to tax authorities for shares withheld from employees | (689) | | (82) | |
| Proceeds from issuance of stock under Employee Stock Purchase Plan | 137 | | 113 | |
| Proceeds from issuance of stock from stock option exercises | 8 | | 574 | |
| Payments for finance leases | (113) | | (60) | |
| Net cash provided by financing activities | 34,030 | | 1,075 | |
| Effect of changes in exchange rates on cash and cash equivalents | 59 | | (142) | |
| Net change in cash and cash equivalents and restricted cash | 15,545 | | 200 | |
| Cash and cash equivalents at the beginning of period | 5,731 | | 4,404 | |
| Restricted cash at the beginning of period | 104 | | 102 | |
| Cash and cash equivalents and restricted cash at beginning of period | 5,835 | | 4,506 | |
| Cash and cash equivalents at end of period | 21,275 | | 4,603 | |
| Restricted cash at the end of period | 105 | | 103 | |
| Cash and cash equivalents and restricted cash at end of period | $21,380 | | $4,706 | |
UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS
(in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, |
|---|
| 2026 | 2025 | 2026 | 2025 |
|---|
| Net income | $13,306 | | $20,355 | | $27,923 | | $27,503 | |
| Interest expense | 1,416 | | 1,351 | | 4,119 | | 2,563 | |
| Income tax expense (benefit) | 3,048 | | (12,612) | | 8,238 | | (12,531) | |
| Depreciation and amortization | 666 | | 581 | | 1,961 | | 1,207 | |
| EBITDA (Non-GAAP) | $18,436 | | $9,675 | | $42,241 | | $18,742 | |
| Stock compensation expense | 987 | | 569 | | 3,020 | | 1,706 | |
| Severance and retirement | 8 | | 16 | | 19 | | 67 | |
| Loss on extinguishment of debt | 242 | | - | | 242 | | - | |
| Contingent liability revaluation | - | | - | | - | | (127) | |
| Gain on disposal of asset | (208) | | - | | (208) | | (7) | |
| Non-Recurring professional fees | 58 | | 167 | | 90 | | 4,362 | |
| Adjusted EBITDA (Non-GAAP) | $19,523 | | $10,427 | | $45,404 | | $24,743 | |
(1)Management believes that EBITDA and Adjusted EBITDA for the three and nine months ended September 30, 2026 and 2025 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company’s normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $1.3 million during the three months ended September 30, 2026 and 2025, respectively, and non-cash amortization of contract assets totaling $7.1 million and $4.2 million during the nine months ended September 30, 2026 and 2025, respectively.
(2)Includes $4.4 million of expenses for the nine months ended September 30, 2025, related to an asset acquisition.
UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS
(in thousands)
| Three Months Ended June 30, | Three Months Ended March 31, |
|---|
| 2026 | 2026 |
|---|
| Net income | $9,953 | | $4,664 | |
| Interest expense | 1,371 | | 1,332 | |
| Income tax expense (benefit) | 3,581 | | 1,609 | |
| Depreciation and amortization | 664 | | 631 | |
| EBITDA (Non-GAAP) | $15,569 | | $8,236 | |
| Stock compensation expense | 1,210 | | 824 | |
| Severance and retirement | - | | 11 | |
| Non-Recurring professional fees | 9 | | 22 | |
| Adjusted EBITDA (Non-GAAP) | $16,788 | | $9,093 | |
(1)Management believes that EBITDA and Adjusted EBITDA for the three months ended June 30, 2026 and three months ended March 31, 2026 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company’s normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.4 million and $2.2 million during the three months ended June 30, 2026 and three months ended March 31, 2026, respectively.
Contacts
Mike Critelli
E: ir@flotekind.com