Company: NINE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001532286-25-000011
Chunk: 13

Company: Nine Energy Service, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 expenses4,699 (7,796)Income taxes receivable/payable98 148 Operating lease obligations(3,372)(3,251)Other assets and liabilities(302)(10)Net cash used in operating activities(5,277)(8,837)Cash flows from investing activitiesProceeds from sales of property and equipment— 28 Purchases of property and equipment(3,981)(5,488)Net cash used in investing activities(3,981)(5,460)Cash flows from financing activitiesProceeds from 2018 ABL Credit Facility4,000 — Payments on 2018 ABL Credit Facility(4,000)(5,000)Payments of short-term debt(1,320)(1,054)Principal payments on finance leases(13)(10)Payments of contingent liability(223)(159)Net cash used in financing activities(1,556)(6,223)Impact of foreign currency exchange on cash209 (83)Net decrease in cash and cash equivalents(10,605)(20,603)Cash and cash equivalentsCash and cash equivalents beginning of period$27,880 $30,840 Cash and cash equivalents end of period$17,275 $10,237 Supplemental disclosures of cash flow information:Cash paid for interest$20,641 $20,883 Cash paid for income taxes$3 $14 Right of use assets obtained in exchange for operating lease obligations$2,611 $1,256 

 4

Three Months Ended March 31, 20252024Supplemental schedule of non-cash investing and financing activities:Right of use assets obtained in exchange for finance lease obligations$26 $— Capital expenditures in accounts payable and accrued expenses$1,218 $1,211 

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

 5

NINE ENERGY SERVICE, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1. Company and Organization

BackgroundNine Energy Service, Inc. (the “Company” or “Nine”), a Delaware corporation, is an oilfield services business that provides services integral to the completion of unconventional wells through a full range of tools and methodologies. The Company is headquartered in Houston, Texas.Risks and UncertaintiesAs Nine is a spot-market business, the Company’s business and its pricing depends, to a significant extent, on the level of unconventional