Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 42

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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5,459 27 %General and administrative expenses$13,874 $12,482 $1,392 11 %Depreciation5,796 6,602 (806)(12)%Amortization of intangibles2,796 2,796 — — %Loss (gain) on revaluation of contingent liability48 (118)166 (141)%Loss (gain) on sale of property and equipment(80)27 (107)396 %Income (loss) from operations3,378 (1,436)4,814 335 %Non-operating expense14,223 12,466 1,757 14 %Loss before income taxes(10,845)(13,902)3,057 (22)%Provision (benefit) for income taxes(454)139 (593)427 %Net loss$(10,391)$(14,041)$3,650 (26)%

 18

Revenues

Revenues increased $14.9 million, or 11%, to $147.3 million for the second quarter of 2025. The increase in comparison to the second quarter of 2024 was primarily related to cementing revenue (including pump downs), which increased $6.4 million, or 14%, as total cement job count increased 15%, each in comparison to the second quarter of 2024. In addition, wireline revenue increased $5.0 million, or 18%, as total completed wireline stages increased 35%, each in comparison to the second quarter of 2024, and tools revenue increased $4.6 million, or 14%, as completion tools stages increased 27%, each in comparison to the second quarter of 2024. The overall increase was partially offset by pricing pressure in coiled tubing, which decreased its revenue by $1.1 million, or 4%, in comparison to the second quarter of 2024. Lower pricing across cementing, wireline, and tools also partially offset overall revenue increases between periods.

Cost of Revenues (Exclusive of Depreciation and Amortization)

Cost of revenues increased $9.4 million, or 8%, to $121.4 million for the second quarter of 2025. The increase in comparison to the second quarter of 2024 was primarily related to a $6.6 million increase in materials installed and consumed while performing services, a $2.