Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 56

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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8 million in the first nine months of 2024. The $3.3 million increase was primarily attributed to a $6.5 million increase in cash used in working capital, in comparison to the first nine months of 2024, driven mainly by reduced collections of accounts receivable between periods. The increase was partially offset by a $3.2 million decrease in cash flow used in operations in comparison to the first nine months of 2024. 

Investing Activities

Net cash used in investing activities was $13.2 million during the first nine months of 2025 compared to $11.2 million in the first nine months of 2024. The $2.0 million increase was primarily attributed to a $1.8 million increase in cash purchases of property and equipment in comparison to the first nine months of 2024 coupled with a $0.2 million decrease in cash proceeds from the sales of property and equipment between periods.

Financing Activities

Net cash provided by financing activities was $6.6 million during the first nine months of 2025 compared to $2.1 million used in the first nine months of 2024. The $8.7 million change was primarily attributed to a $62.9 million increase in proceeds received from revolving credit facilities in comparison to the first nine months of 2024, partially offset by a $41.0 million increase in payments on revolving credit facilities during the first nine months of 2025 in comparison to the first nine months of 2024, coupled with $8.2 million in proceeds received from the issuance of common stock under our ATM program in the first nine months of 2024, that did not reoccur in the first nine months of 2025, as well as $4.6 million in debt issuance costs associated with the 2025 ABL Credit Facility in the first nine months of 2025, that did not occur in the first nine months of 2024, and a $0.7 million increase in payments of short-term debt between periods. 

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Critical Accounting Estimates

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with GAAP. The preparation of our financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Our critical accounting estimates, which are estimates