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

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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ITEM 1. FINANCIAL STATEMENTS

NINE ENERGY SERVICE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)

 September 30,2025December 31,2024Assets  Current assets  Cash and cash equivalents$14,389 $27,880 Restricted cash2,086 — Accounts receivable, net81,446 81,157 Income taxes receivable— 284 Inventories, net56,806 50,781 Prepaid expenses6,219 9,982 Other current assets1,951 380 Total current assets162,897 170,464 Property and equipment, net66,424 70,518 Operating lease right of use assets, net35,852 37,252 Finance lease right of use assets, net19 29 Intangible assets, net70,859 79,246 Other long-term assets4,650 2,567 Total assets$340,701 $360,076 Liabilities and Stockholders’ Equity (Deficit)Current liabilitiesAccounts payable$37,072 $36,052 Accrued expenses23,329 30,676 Income taxes payable169 — Current portion of long-term debt— 3,580 Current portion of operating lease obligations13,214 11,216 Current portion of finance lease obligations13 21 Total current liabilities73,797 81,545 Long-term liabilitiesLong-term debt339,390 317,264 Long-term operating lease obligations23,290 26,710 Other long-term liabilities90 621 Total liabilities436,567 426,140 Commitments and contingencies (Note 10)Stockholders’ equity (deficit)Common stock (120,000,000 shares authorized at $0.01 par value; 43,361,339 and 42,348,643 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively)434 423 Additional paid-in capital807,976 806,231 Accumulated other comprehensive loss(4,865)(5,406)Accumulated deficit(899,411)(867,312)Total stockholders’ equity (deficit)(95,866)(66,064)Total liabilities and stockholders’ equity (deficit)$340,701 $