Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 85

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 in state and foreign tax jurisdictions.

 20

Net Income (Loss) and Adjusted EBITDA

Net loss increased $4.5 million, or 44%, to $14.6 million for the third quarter of 2025, and Adjusted EBITDA decreased $4.6 million, or 33%, to $9.6 million for the third quarter of 2025. The changes were primarily due to the fluctuations in revenues and expenses discussed above. See “Non-GAAP Financial Measures” below for further information regarding Adjusted EBITDA.

Results for the Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024 

 Nine Months Ended September 30,  20252024ChangePercentage Change (in thousands, 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