Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 75

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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” at September 30, 2025 and December 31, 2024, respectively, and $0.0 million and $0.1 million reported in “Other long-term liabilities” at September 30, 2025 and December 31, 2024, respectively, in the Company’s Condensed Consolidated Balance Sheets. The impact of the revaluation adjustments is included in the Company’s Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

11. Taxes

The Company’s provision (benefit) for income taxes included in its Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) was as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands, except percentages)Provision (benefit) for income taxes$53 $73 $(286)$366 Effective tax rate(0.4)%(0.7)%0.9 %(1.1)%The Company’s provision for income taxes for the three months ended September 30, 2025 was primarily attributed to state and non-U.S. income taxes. The Company’s benefit for income taxes for the nine months ended September 30, 2025 was primarily attributed to a $0.5 million discrete tax benefit recorded during the second quarter of 2025, as well as tax positions in state and non-U.S. jurisdictions. At September 30, 2025, the Company continued to record a full valuation allowance against its net deferred tax asset positions in the U.S. and Canada.

12. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share is based on the weighted average number of shares outstanding for the period, including the dilutive effect of equity awards.Basic and diluted earnings (loss) per share of common stock was computed as follows:  Three Months Ended September 30, 2025Three Months Ended September 30, 2024Net LossAverage Shares OutstandingLoss Per ShareNet LossAverage Shares OutstandingLoss Per Share(in thousands, except share and per share amounts)Basic$(14,647)41,297,925 $(0.35)$(10,143)39,209,798 $(0.26)Unvested restricted stock and stock units— — — —