Company: TISI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000318833-25-000057
Chunk: 59

Company: TEAM INC
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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ARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Continued)(unaudited, in thousands)Three Months Ended June 30,Six Months Ended June 30,2025202420252024Segment Adjusted EBIT and Adjusted EBITDA:IHTOperating income$15,780 $12,459 $24,473 $17,644 Professional fees and other1750 — 750 40 Severance charges62 152 177 247 Adjusted EBIT16,592 12,611 25,400 17,931 Depreciation and amortization2,898 2,978 5,714 6,007 Adjusted EBITDA$19,490 $15,589 $31,114 $23,938 MSOperating income$10,137 $10,637 $9,026 $14,728 Professional fees and other1— 58 — 140 Legal costs251 41 251 41 Severance charges313 49 647 374 Adjusted EBIT10,701 10,785 9,924 15,283 Depreciation and amortization4,285 4,565 8,556 9,214 Adjusted EBITDA$14,986 $15,350 $18,480 $24,497 Corporate and shared support servicesNet loss$(30,183)$(25,859)$(67,483)$(52,330)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 Foreign currency loss (gain)3,544 615 3,749 (624)Professional fees and other11,551 458 3,558 2,417 Write-off of software cost— — 45 — Legal costs548 — 1,038 82 Severance charges— 24 18 29 Pension credit2(54)(102)(105)(215)Loss on debt extinguishment— — 11,853 — Adjusted EBIT(11,715)(11,455)(22,785)(25,071)Depreciation and amortization1,344 1,717 2,