Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 85

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 shown separately below)243,909 228,054 15,855 7 %Adjusted gross profit$53,808 $46,467 $7,341 16 %General and administrative expenses$27,137 $24,747 $2,390 10 %Depreciation11,633 13,336 (1,703)(13)%Amortization of intangibles5,592 5,592 — — %Loss (gain) on revaluation of contingent liability73 (192)265 (138)%Loss on sale of property and equipment366 1 365 36500 %Income from operations9,007 2,983 6,024 202 %Non-operating expense26,798 24,786 2,012 8 %Loss before income taxes(17,791)(21,803)4,012 (18)%Provision (benefit) for income taxes(339)293 (632)216 %Net loss$(17,452)$(22,096)$4,644 (21)%

Revenues

Revenues increased $23.2 million, or 8%, to $297.7 million for the first six months of 2025. The increase in comparison to the first six months of 2024 was primarily related to cementing revenue (including pump downs), which increased $15.3 million, or 16%, as total cement job count increased 23%, each in comparison to the first six months of 2024. In addition, wireline revenue increased $6.7 million, or 12%, as total completed wireline stages increased 27%, each in comparison to the first six months of 2024, and tools revenue increased $3.2 million, or 5%, as completion tools stages increased 18%, each in comparison to the first six months of 2024. The overall increase was partially offset by pricing pressure in coiled tubing, which decreased its revenue by $2.0 million, or 4%, in comparison to the first six months of 2024. Lower pricing across cementing, wireline, and tools also partially offset overall revenue increases between periods.

Cost of Revenues (Exclusive of Depreciation and Amortization)

Cost of revenues increased $15.9 million, or 7%, to $243.9 million for the first six months of 202