Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 39

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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$20,300 $24,706 $(4,406)(18)%General and administrative expenses$12,756 $12,366 $390 3 %Depreciation5,759 6,226 (467)(8)%Amortization of intangibles2,795 2,796 (1)— %Loss on revaluation of contingent liability96 383 (287)(75)%Loss on sale of property and equipment61 484 (423)(87)%Income (loss) from operations(1,167)2,451 (3,618)(148)%Non-operating expense13,427 12,521 906 7 %Loss before income taxes(14,594)(10,070)(4,524)45 %Provision for income taxes53 73 (20)(27)%Net loss$(14,647)$(10,143)$(4,504)44 %

Revenues

Revenues decreased $6.1 million, or 4%, to $132.0 million for the third quarter of 2025. The decrease in comparison to the third quarter of 2024 was primarily related to coiled tubing revenue, which decreased $4.3 million, or 15%, mainly due to 

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volume and utilization decreases as total days worked decreased 22%, coupled with pricing reductions, each in comparison to the third quarter of 2024. In addition, although total cement job count increased 1%, total cementing revenue (including pump downs) decreased $1.9 million, or 4%, in comparison to the third quarter of 2024, primarily due to pricing reductions within the service line. In addition, tools revenue decreased $0.2 million, or 1%, as completion tools stages decreased 11%, in comparison to the third quarter of 2024. The overall decrease was partially offset by wireline revenue, which increased $0.3 million, or 1%, as total completed wireline stages increased 31%, which more than offset pricing reductions, in comparison to the third quarter of 2024.

Cost of Revenues (Exclusive of Depreciation and Amortization)

Cost of revenues decreased $1.7 million, or 2%, to $111.7 million for the third quarter of 2025. The decrease in comparison to the third quarter of 2024 was primarily related to a $2.2 million decrease in materials installed and consumed while performing