Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 115

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 115
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 costs of depreciable assets, none of which are components of Adjusted EBITDA. Our computation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.

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The following table presents a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to the GAAP financial measure of net income (loss) for the three and six months ended June 30, 2025 and 2024: 

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Net loss$(10,391)$(14,041)$(17,452)$(22,096)Interest expense14,729 12,782 27,605 25,574 Interest income(319)(154)(458)(464)Provision (benefit) for income taxes(454)139 (339)293 Depreciation5,796 6,602 11,633 13,336 Amortization of intangibles2,796 2,796 5,592 5,592 EBITDA$12,157 $8,124 $26,581 $22,235 Loss (gain) on revaluation of contingent liability (1)48 (118)73 (192)Restructuring charges306 315 306 342 Stock-based compensation expense539 807 1,289 1,388 Cash award expense1,153 580 2,045 995 Loss (gain) on sale of property and equipment(80)27 366 1 Adjusted EBITDA$14,123 $9,735 $30,660 $24,769 

(1)Amounts relate to the revaluation of a contingent liability associated with a 2018 acquisition. The impact is included in our Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). For additional information on contingent liabilities, see Note 10 – Commitments and Contingencies included in Item 1 of Part I of this Quarterly Report on Form 10-Q.

Adjusted Return on Invested Capital

Adjusted ROIC is a non-GAAP financial measure. We define Adjusted ROIC as adjusted after-tax net operating profit (loss), divided by average total capital. We define adjusted after-tax net operating profit (loss), which is a non-GAAP financial measure, as net income (loss) plus (i