Company: NINE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001532286-25-000011
Chunk: 12

Company: Nine Energy Service, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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$(66,064)Stock-based compensation expense— — 750 — — 750 Other comprehensive income— — — 262 — 262 Net loss— — — — (7,061)(7,061)Balance, March 31, 202542,348,643 $423 $806,981 $(5,144)$(874,373)$(72,113)

Common StockAdditionalPaid-in CapitalAccumulatedOtherComprehensiveIncome (Loss)RetainedEarnings(Accumulated Deficit)TotalStockholders’ Equity (Deficit)SharesAmountsBalance, December 31, 202335,324,861 $353 $795,106 $(4,859)$(826,230)$(35,630)Stock-based compensation expense— — 581 — — 581 Other comprehensive loss— — — (210)— (210)Net loss— — — — (8,055)(8,055)Balance, March 31, 202435,324,861 $353 $795,687 $(5,069)$(834,285)$(43,314)

The accompanying notes are an integral part of these condensed consolidated financial statements.

 3

NINE ENERGY SERVICE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three Months Ended March 31, 20252024Cash flows from operating activities  Net loss$(7,061)$(8,055)Adjustments to reconcile net loss to net cash used in operating activitiesDepreciation5,837 6,734 Amortization of intangibles2,796 2,796 Amortization of operating leases3,418 3,294 Amortization of deferred financing costs2,087 1,795 Provision for (recovery of) doubtful accounts34 (1)Provision for inventory obsolescence611 220 Stock-based compensation expense750 581 Loss (gain) on sale of property and equipment446 (26)Loss (gain) on revaluation of contingent liability25 (74)Changes in operating assets and liabilitiesAccounts receivable, net(13,967)(2,533)Inventories, net(928)(2,229)Prepaid expenses and other current assets(448)(430)Accounts payable and accrued