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

Company: TEAM INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 Write-off of software cost— — 45 — Legal costs (credits) and litigation reserves1,972 (1,975)3,261 (1,852)Severance charges151 309 993 959 Loss on debt extinguishment1,283 — 13,136 — Tax impact of adjustments and other net tax items2 (64)(101)(202)Adjusted Net Loss$(6,062)$(12,538)$(21,812)$(29,264)Dividend and accretion to redemption value on redeemable preferred stock(610)— (610)— Adjusted Net Loss attributable to common shareholders$(6,672)$(12,538)$(22,422)$(29,264)Adjusted Net Loss per common share:Basic and Diluted$(1.48)$(2.84)$(4.99)$(6.62)Consolidated Adjusted EBIT and Adjusted EBITDA:Net loss$(11,447)$(11,126)$(45,431)$(31,084)Provision for income taxes949 504 2,154 2,049 Loss (gain) on equipment sale(107)(7)(102)11 Interest expense, net11,855 11,770 35,187 35,777 Professional fees and other11,977 318 6,285 2,915 Write-off of software cost— — 45 — Legal costs (credits) and litigation reserves1,972 (1,975)3,261 (1,852)Severance charges151 309 993 959 Foreign currency loss (gain)(1,136)2,128 2,613 1,504 Pension credit2(55)(111)(160)(326)Loss on debt extinguishment1,283 — 13,136 — Consolidated Adjusted EBIT5,442 1,810 17,981 9,953 Depreciation and amortizationAmount included in operating expenses3,283 3,429 9,497 10,520 Amount included in SG&A expenses5,464 5,605 16,179 17,414 Total depreciation and amortization8,747 9,034 25,676 27,934 Non-cash share-based compensation costs352 467 665 1,744 Consolid