Company: TISI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0000318833-25-000070
Chunk: 67

Company: TEAM INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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870 $12,998 $45,984 $36,936 MSOperating income$5,853 $4,460 $14,879 $19,188 Professional fees and other— — — 140 Legal costs— — 251 41 Severance charges148 92 795 466 Adjusted EBIT6,001 4,552 15,925 19,835 Depreciation and amortization4,194 4,504 12,750 13,718 Adjusted EBITDA$10,195 $9,056 $28,675 $33,553 Corporate and shared support servicesNet loss$(28,822)$(25,446)$(96,305)$(77,776)Provision for income taxes949 504 2,154 2,049 Loss (gain) on equipment sale(107)(7)(102)11 Interest expense, net11,855 11,770 35,187 35,777 Foreign currency loss (gain)(1,136)2,128 2,613 1,504 Professional fees and other11,883 318 5,441 2,735 Write-off of software cost— — 45 — Legal costs (credits) and litigation reserves1,972 (1,975)3,010 (1,893)Severance charges— 7 18 36 Pension credit2(55)(111)(160)(326)Loss on debt extinguishment1,283 — 13,136 — Adjusted EBIT(12,178)(12,812)(34,963)(37,883)Depreciation and amortization1,302 1,602 3,961 5,281 Non-cash share-based compensation costs352 467 665 1,744 Adjusted EBITDA$(10,524)$(10,743)$(30,337)$(30,858)Consolidated Adjusted EBITDA$14,541 $11,311 $44,322 $39,631 

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1    For the three and nine months ended September 30, 2025, includes $0.4 million and $1.7 million, respectively related to debt financing, and $1.6 million and $4.6 million, respectively, related to support costs. For