Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 14

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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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)

 June 30,2025December 31,2024Assets  Current assets  Cash and cash equivalents$14,216 $27,880 Restricted cash3,539 — Accounts receivable, net93,992 81,157 Income taxes receivable— 284 Inventories, net54,209 50,781 Prepaid expenses8,409 9,982 Other current assets1,366 380 Total current assets175,731 170,464 Property and equipment, net68,794 70,518 Operating lease right of use assets, net37,862 37,252 Finance lease right of use assets, net22 29 Intangible assets, net73,654 79,246 Other long-term assets5,102 2,567 Total assets$361,165 $360,076 Liabilities and Stockholders’ Equity (Deficit)Current liabilitiesAccounts payable$44,145 $36,052 Accrued expenses35,648 30,676 Income taxes payable136 — Current portion of long-term debt913 3,580 Current portion of operating lease obligations13,069 11,216 Current portion of finance lease obligations19 21 Total current liabilities93,930 81,545 Long-term liabilitiesLong-term debt323,454 317,264 Long-term operating lease obligations25,426 26,710 Other long-term liabilities92 621 Total liabilities442,902 426,140 Commitments and contingencies (Note 10)Stockholders’ equity (deficit)Common stock (120,000,000 shares authorized at $0.01 par value; 43,370,187 and 42,348,643 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively)434 423 Additional paid-in capital807,509 806,231 Accumulated other comprehensive loss(4,916)(5,406)Accumulated deficit(884,764)(867,312)Total stockholders’ equity (deficit)(81,737)(66,064)Total liabilities and stockholders’ equity (deficit)$361,165 $