Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 113

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 113
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 except percentage change)Revenues$429,745 $412,678 $17,067 4 %Cost of revenues (exclusive of depreciation and amortization shown separately below)355,637 341,505 14,132 4 %Adjusted gross profit$74,108 $71,173 $2,935 4 %General and administrative expenses$39,893 $37,113 $2,780 7 %Depreciation17,392 19,562 (2,170)(11)%Amortization of intangibles8,387 8,388 (1)— %Loss on revaluation of contingent liability169 191 (22)(12)%Loss on sale of property and equipment427 485 (58)(12)%Income from operations7,840 5,434 2,406 44 %Non-operating expense40,225 37,307 2,918 8 %Loss before income taxes(32,385)(31,873)(512)2 %Provision (benefit) for income taxes(286)366 (652)178 %Net loss$(32,099)$(32,239)$140 — %

Revenues

Revenues increased $17.1 million, or 4%, to $429.7 million for the first nine months of 2025. The increase in comparison to the first nine months of 2024 was primarily related to cementing revenue (including pump downs), which increased $13.4 million, or 9%, as total cement job count increased 16%, each in comparison to the first nine months of 2024. In addition, wireline revenue increased $7.0 million, or 8%, as total completed wireline stages increased 28%, and tools revenue increased $3.0 million, or 3%, as completion stages increased 8%, each in comparison to the first nine months of 2024. The overall increase was partially offset by coiled tubing, which decreased its revenue by $6.3 million, or 7%, in comparison to the first nine months of 2024 due to pricing pressure coupled with volume reductions as total days worked decreased by 10% between periods. Lower pricing across cementing and wireline also partially offset overall revenue increases between periods.

Cost of Revenues (Exclusive of Depreciation and Amortization)

Cost of revenues increased $14.