Company: TISI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0000318833-25-000070
Chunk: 52

Company: TEAM INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 52
---
audited)(unaudited)(unaudited)Revenues$320,286 $318,690 $638,976 Adjusted operating expenses1237,927 224,681 462,608 Adjusted selling, general and administrative expenses245,423 60,456 105,879 Adjusted EBITDA$36,936 $33,553 $70,489 _____________1    Represent operating expenses excluding indirect depreciation and amortization, and severance cost.2    Represent segment selling, general and administrative expenses excluding depreciation and amortization, non-cash share-based compensation, professional, legal and other non-recurring costs.Reconciliation of segment adjusted EBITDA to consolidated loss before income taxes:

23 

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,Segment adjusted EBITDA:2025202420252024IHT$14,870 $12,998 $45,984 $36,936 MS10,195 9,056 28,675 33,553     Total segment adjusted EBITDA25,065 22,054 74,659 70,489 Segment depreciation and amortization(7,445)(7,432)(21,715)(22,653)Segment professional fees, severance and other(245)(302)(2,070)(1,144)Corporate and shared support cost(16,033)(11,162)(43,432)(38,761)Consolidated operating income1,342 3,158 7,442 7,931 Interest expense(11,855)(11,770)(35,187)(35,777)Loss on debt extinguishment(1,283)— (13,136)— Other income (expense), net1,298 (2,010)(2,396)(1,189)Loss before income taxes$(10,498)$(10,622)$(43,277)$(29,035)   Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024 (unaudited)(unaudited)(unaudited)(unaudited)Capital expenditures1:IHT$1,834 $234 $4,963 $3,029 MS873 932 2,817 2,577 Corporate and shared support services203 52 521 103 Total capital expenditures$2,910 $1,218 $