Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 41

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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2024.

(Gain) Loss on Sale of Property and Equipment

Loss on sale of property and equipment decreased $0.4 million for the third quarter of 2025. The decrease in comparison to the third quarter of 2024 was primarily related to losses on equipment sales in the third quarter of 2024 that did not recur in the third quarter of 2025. 

Provision (Benefit) for Income Taxes

We recorded an income tax provision of $0.1 million for both the third quarter of 2025 and the third quarter of 2024. The income tax provision for both periods is related to our income tax position in state and foreign tax jurisdictions.

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Net Income (Loss) and Adjusted EBITDA

Net loss increased $4.5 million, or 44%, to $14.6 million for the third quarter of 2025, and Adjusted EBITDA decreased $4.6 million, or 33%, to $9.6 million for the third quarter of 2025. The changes were primarily due to the fluctuations in revenues and expenses discussed above. See “Non-GAAP Financial Measures” below for further information regarding Adjusted EBITDA.

Results for the Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024 

 Nine Months Ended September 30,  20252024ChangePercentage Change (in thousands, except percentage change)Revenues$429,745 $412,678 $17,067 4 %Cost of revenues (exclusive of depreciation and amortization shown separately below)355,637 341,505 14,132 4 %Adjusted gross profit$74,108 $71,173 $2,935 4 %General and administrative expenses$39,893 $37,113 $2,780 7 %Depreciation17,392 19,562 (2,170)(11)%Amortization of intangibles8,387 8,388 (1)— %Loss on revaluation of contingent liability169 191 (22)(12)%Loss on sale of property and equipment427 485 (58)(12)%Income from operations7,840 5,434 2,406 44 %Non-operating expense40,225 37,307 2,918 8 %Loss before income taxes(32,385)(31,