Company: TISI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000318833-25-000057
Chunk: 113

Company: TEAM INC
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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15,750)$(16,726)Adjusted Net Loss per common share:Basic and Diluted$(0.20)$(0.45)$(3.50)$(3.79)Consolidated Adjusted EBIT and Adjusted EBITDA:Net loss$(4,266)$(2,763)$(33,984)$(19,958)Provision for income taxes983 1,472 1,205 1,545 Loss on equipment sale— 28 5 18 Interest expense, net11,896 11,909 23,332 24,007 Professional fees and other12,301 516 4,308 2,597 Write-off of software cost— — 45 — Legal costs799 41 1,289 123 Severance charges375 225 842 650 Foreign currency loss (gain)3,544 615 3,749 (624)Pension credit2(54)(102)(105)(215)Loss on debt extinguishment— — 11,853 — Consolidated Adjusted EBIT15,578 11,941 12,539 8,143 Depreciation and amortizationAmount included in operating expenses3,112 3,508 6,214 7,091 Amount included in SG&A expenses5,415 5,752 10,715 11,809 Total depreciation and amortization8,527 9,260 16,929 18,900 Non-cash share-based compensation costs366 612 313 1,277 Consolidated Adjusted EBITDA$24,471 $21,813 $29,781 $28,320 Free Cash Flow:Cash used in operating activities$(3,344)$(6,352)$(32,005)$(4,466)Capital expenditures(2,910)(2,743)(4,316)(5,759)Free Cash Flow$(6,254)$(9,095)$(36,321)$(10,225)

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1    For the six months ended June 30, 2025, includes $1.3 million related to debt financing and for the three and six months ended June 30, 2025, includes $2.3 million and $3.0 million, respectively, related to support costs. For the three and six months ended June