Company: TISI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000318833-25-000057
Chunk: 16

Company: TEAM INC
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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.7 million of undrawn availability under our various credit facilities, resulting in total liquidity of $46.5 million. 

Cash Flows

The following table summarizes cash flows from Operating, Investing and Financing activities (in thousands):

Six Months Ended June 30,Cash flows provided by (used in):20252024Favorable(Unfavorable)Operating activities$(32,005)$(4,466)$(27,539)Investing activities(4,316)(5,620)1,304 Financing activities21,161 (2,500)23,661 Effect of exchange rate changes on cash324 (380)704 Net decrease in cash and cash equivalents$(14,836)$(12,966)$(1,870)

Cash and cash equivalents. Our cash and cash equivalents as of June 30, 2025 totaled $20.7 million, consisting of $16.6 million of unrestricted cash on hand, and $4.1 million of restricted cash. International cash balances as of June 30, 2025 were $6.4 million, and approximately $1.1 million of such cash is located in countries where currency or regulatory restrictions exist.

As of December 31, 2024, our cash and cash equivalents were $35.5 million, including $31.5 million of unrestricted cash on hand, and $4.0 million of restricted cash. International cash balances as of December 31, 2024 were $5.1 million, including $1.1 million of cash located in countries where currency or regulatory restrictions existed.

Our total debt and finance obligations were $370.2 million (of which $3.8 million was classified as current at June 30, 2025), compared to total debt of $325.1 million at December 31, 2024. The increase of $45.1 million was driven by the $20.0 million increase in the Revolving Credit Loans borrowings and increases in other outstanding debt due to the recent refinancing transactions completed on March 12, 2025.

Cash flows attributable to our operating activities. Our largest source of operating cash inflow is cash collection from customers for work performed. The primary use of operating cash is to pay our suppliers, employees, tax authorities, and others.

Cash flows from operating activities are primarily generated from net income or loss adjusted for certain noncash items which include depreciation and amortization, PIK