Company: TISI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0000318833-25-000070
Chunk: 133

Company: TEAM INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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)3,261 (1,852)Severance charges151 309 993 959 Foreign currency loss (gain)(1,136)2,128 2,613 1,504 Pension credit2(55)(111)(160)(326)Loss on debt extinguishment1,283 — 13,136 — Consolidated Adjusted EBIT5,442 1,810 17,981 9,953 Depreciation and amortizationAmount included in operating expenses3,283 3,429 9,497 10,520 Amount included in SG&A expenses5,464 5,605 16,179 17,414 Total depreciation and amortization8,747 9,034 25,676 27,934 Non-cash share-based compensation costs352 467 665 1,744 Consolidated Adjusted EBITDA$14,541 $11,311 $44,322 $39,631 Free Cash Flow:Cash used in operating activities$3,883 $5,609 $(28,122)$1,143 Capital expenditures(2,839)(1,695)(7,155)(7,454)Free Cash Flow$1,044 $3,914 $(35,277)$(6,311)

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1    For the three and nine months ended September 30, 2025, includes $0.4 million and $1.7 million, respectively related to debt financing, and $1.6 million and $4.6 million, respectively, related to support costs. For the three and nine months ended September 30, 2024, includes $0.3 million and $2.7 million, respectively, related to debt financing, and for the nine months ended September 30, 2024, includes $0.2 million related to support costs.

2    Represents pension credits for the U.K. pension plan based on the difference between the expected return on plan assets and the amount of the discounted pension liability. The pension plan was frozen in 1994 and no new participants have been added since that date.

33

TEAM, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Continued)(unaudited, in thousands)Three Months Ended September 30,Nine Months Ended September 30,202520242025